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Chapter 7 Notes
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Robert - 5/12/2009 1:58:07 AM
Knowledge is the New Money

Knowledge is the New Money



'Knowledge is the new money' is my new mantra. What does it mean to you? Read the Chapter

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jseiferth - 5/12/2009 2:54:48 AM
Money is an Idea
Robert,

What you've taught me from the very first day I came to the Rich Dad company is that money is just an idea. And as we learned in the last Rich Dad 3-Day event, equity can be anything.

The most leverage-able form of equity or money is our knowledge. What is the knowledge we bring to the table as a potential investment or business partner? How can we contribute to the team?

Our knowledge (or our relationships, our influence, etc) is equity we can use to increase the value of a team, a deal or a business. Our ability to generate money is limited only by our knowledge, or our ideas.

John
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olabisi - 5/12/2009 3:47:40 AM
knowledge is the new money
After I read Rich dad poor dad and cash flow quadrants, my idea about money began to change. I began to see money as a seed.Now I believe money is not the solution to poverty, buy financial knowledge. so financial education is the new money that everyone who determine to have financial freedom must have.Knowledge is really the new money.

Olabisi.
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Yoshi - 5/12/2009 4:14:20 AM
Knowledge is the new money
Hi Robert,

I take this to mean that in today's information age - cyber economy, those who know more than the rest will be able to make money. In particular, those who have knowledge that help others will make money. So it is vital for people to acquire such knowledge with the intention to help other people.

If people are getting the same kind of education from the past, that probably won't cut it. They have to acquire what you teach in terms of financial education and offer a way to build cashflow.

-Yoshi
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gooseguy11 - 5/12/2009 4:46:42 AM
Knowledge is the New Money
Robert I am a Firefighter by trade, investor at heart. As I talk about your book, and ask other what they think is going on, they clearly lack knowledge. I can say you have steered me towards knowledge and without it we are just a bunch of sheep. We vote in the incumbent because they "know what is going on," "It is a safe bet to vote for the incumbent." I can't praise your efforts to educate me, and America, enough. Knowledge is power, thanks for giving me some.

As I read your books and especially this one I see the average guy in myself. I might get a pension when I retire. I pour money into my 457, I don't think I need to tell you how that is going. I have RE investments. I have other business ventures going, all that require me to be involved. I am trying to move quadrants to the "I" quadrant but it is not something that happens overnight. I have been reading you books for 3 years and trying to migrate my efforts from TV and movies, to studying and developing my businesses. All the while feeling I am behind the curve. Thinking I will probably never be in the 10 percent, but hopefully my kids will.

I won't say I am a wolf, but I certainly am not a sheep.

Jerry
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joelewis456 - 5/12/2009 5:44:13 AM
Knowledge is the new money
Knowlege means potential power to me. I believe there is a lot of people who have lots of knowledge but dont know what to do with it. For example, people know that flipping houses is a form of capital gains, and capital gains is only temporarily. I have a fried who tells me that he would buy 9 houses, flip 8 and keep 1 for cash flow. He would then take the capital gains of the 8 flipped houses and reinvest in the same thing. The problem is, he doesnt know a thing about taxes. He doesnt mind paying the government every penny. He doesnt know about 1031 exchange or anything. I try telling him that he is actually loosing eventhough he is making money. But he let the gains get to him. Thats why I say knowledge is only potential power.
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mistersuperstar - 5/12/2009 6:26:35 AM
Knowledge is Money
That to me means that it is vital for me to heavily invest in my knowledge and continually invest in my knowledge so that I can to be financially free.
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foxhound67 - 5/12/2009 6:55:12 AM
Knowledge
Kia ora Robert,

Well this has made my heart warm. despite all the set backs, reading this confirms I am on the right path. Just need to stick in there & with the information I have gained I will be able to take up those opportunities.

It is just everything seems to fit into place with things as I have seen them in past.

I am trying to help as many as possible to understand though it seems to be an uphill battle to find enough people to get on this track with. even those well off seem to be in fairy land. laugh at what I have learnt from you & others.
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Duski05 - 5/12/2009 7:14:34 AM
Knowledge is freedom
If one can get their hands on quality information they can eliminate the risk from an investment or greatly reduce the risk while vastly increasing returns.

Also knowledge about technology can earn you money via your intellectual property, through websites such as twitter and tipjoy.com you can now get donations or charge people for reading your personal writings and songs.

I believe that knowledge almost lets you print money.
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destn4gr8nes - 5/12/2009 7:15:19 AM
Knowledge vs. Information
Has anyone ever wondered what is KNOWLEDGE ? Well for starters it is a required element of success, whether it's in your business or relationship. I hope one understands what I really mean by knowledge. If you only know the definition from Webster's dictionary then let's look more in depth. It is not taught in schools or colleges. I know many of you will debate it and that's okay. True knowledge is the only resource that extends itself in every aspect in life. Knowledge that leads to wealth and personal fulfillment is never obtained in a 4 year college degree. Unlike technology, knowledge doesn't change every second in this universe. It should be in search of by every human being for it is a blessing. Information is taught in our school systems, not knowledge. Information is a tool used to inform so a person can decide what to do. Knowledge is a journey that in its processes with clarity there's no decisions to be made. With that being said knowledge will lead you to a life of actions in every chapter in your life; no burdens are established. Take a look at the scenario for school. Going to school we are forced to get information. Going to college we are forced to pay for information. A good observation on this is that a person attending school and graduating has will power and persistence. The information learned in high school and college is now out of date. Instead of seeking more information one that has this will power should have the inkling to desire knowledge that is god given and not man-made (information). Notice anything man-made always goes out of style and needs to be upgraded or renewed. God given; God made (knowledge) is never changing and stays the same from generation to generation. Take a look at reality TV shows.(example: Flavor of Love) A person who has knowledge actually had the vision and desire to create the TV show. Right? Persons with knowledge now seeks for the right applicant (information puppets) which in this case would be Flava Flav(rap artist) that eventually seeks spin-offs. Here is the order of Knowledge ( original TV show)+ applicant (information puppet) =spin-off show + applicant (information puppet) = spin-off show + applicant (information puppet) = spin-off show. This is an on going cycle of the mentality of information seeking crowd. You can even use this analysis as we are taught in school to get information so we can work for someonelse. True knowledge and understanding of it could never create a life of spin-offs for there is no creativity in that. Only persons with information could want and desire a life of co-creation. Knowledge will always be the true creation of ANYTHING. When you go to school information is the programmable idea that was put in place by hypocritical knowledge that really lacked confidence and self-esteem. Knowledge never has a problem with exposing itself. Its pleasure is to create and produce a student that seeks it. The student will become a creator of businessess, empires, visions, and would always see opportunity in the unseen. From knowledge visions are created. Opportunities are co-producers of the mindset acquired by kno wledge. Information puppets search for opportunities meaning a job/ working under someonelse. Knowledge extroadinaires would be very reluctant to working for or under someone UNLESS it's part of the journey.. again it's not in their character to co-create anything.
1.) Knowledge seeking knowledge is the formation of a partnership.
2.) Knowledge seeking information is the formation of a business.
3.) Information seeking knowledge is a journey to build up character.
Conclusion: Information is just that. Knowledge is a journey and you will always be a student. Getting information in school is for that moment and in that particular genre. Knowledge is forever; constant and is in all genres of life(no specifics).

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