Discussion

In a lot of ways, I think we have just forgotten the basics. I live in the Middle East and often go to the gold "souk" - the gold market downtown.

There are always old Bedouin women there, slapping down chunks of 18K-20K bracelets and rings to sell when prices go up.

I became interested in gold a long time ago when I heard a story on the radio about similar gold markets in India. When gold was down, they bought. When it went up, they sold. That level of "involvement" might have seemed base to people like my parents who always hired financial advisors to manage their stocks. That process of actively "managing" money, while perfectly logical, got blindsided somehow by propoganda-the market returns 8% annually, stay in for the long haul, etc.

But today of course I can see the wisdom in what these women have known for centuries. If knowledge is money, many of us have forgotten how to use that knowlege - some of which is fairly primitive. People don't understand why I love going down there to see the market, and ask why we don't go instead to upscale places where the more stylized jewelry is, or where diamonds are sold.

While reading your books, there has been an common theme that you do not need money to make money. In this chapter you really wrote it out in bold ink. What that means to me is that concept is still your reality. I know it is true, yet the hard part is making that my reality.

I still believe it is true, and I am working hard to make that my reality!

Dear Mr. Kiyosaki:

I´m not an English native speaker... so please forgive any mistake; agree with the concept, even more, mine is a very similar story to yours (roots only -hopefully as for now-) and though some laugh at me when I explain to them why I think you´re right or tell them how, slowly, step by step, following your concepts... things are beggining to change in my life... I believe it´s all true. Does anyone need more judgment facts than those on the news today???

My father was an Industrial, had very good moments - I can say he did in the 70´s most of what I´ve read from you... but he failed not teaching me...and I failed not trying to learn...(may be that´s because old Japanese say "Children grow(learn) looking at dad´s back, while he´s working...) , my mother sent us 4 to school and taught us to prepare to have a good job... she has always said borrowing money is risky, said we should learn to live within our incomes(paychecks). I can´t blame her... (as far as I know -at least old Japanese were taught to feel pride for their jobs first of all-, may be we can ask Mr. Tom Cruise...) my father lost almost everything at the end of the 90´s...he used to say he was in business mainly because he liked that...(never said "for money"), but the truth is on both sides... I feel... he loved business and needed money, also, obvious...(but sounds "dirty" to say so...)

I left home when 19, but, as the elder son...was called back when 27 to take over the company (or should I say... "the remaining problems of the company" )...Because I was programmed to Work... and hard.. 16 to 20 hours 365 days...(might sound strange,but as a "good Japanese son"...I´m PROUD my personal record is 56 hours straight... -the Last Samurai?-)..Somehow we survived, but I didn´t realize I was not doing good until I found your book(s) and then is when I realized my father was right...he was doing quite well, but he couldn´t switch to the next Age...(I´m not saying I have...neither)...Information, good information. A new approach to Assets and Liabilities, not getting into the bubble..

I agree with your approach to the problem, we must learn about money, because in my country (at least at the school I went to... none of REAL LIFE was taught)but wouldn´t it be better to say that KNOWLEDGE IS MONEY...? because... Money is knowledge... sounds to me as "If you have money, you can have knowledge..." which I feel isn´t what you are trying to say...Again I´m not an English Native Speaker so I can be completely wrong...

One point that I think is better to say now than later, is that sometimes learning "hurts" and anyone intending to get financial independence should be aware of that, as babies do...try...fall...(cry if needed) but finally stand up and carry on...!!!! the goal is there but we need to keep our ego away...I think we can fail (who hasn´t)...failing by itself is not "bad"... what is bad is attaching our fails to others !!! or not assuming our own responsabilities or having others to solve them...

Before I read you, I didn´t know who Mr. Buffet is...! Bears and Bulls were nothing more than two animals to me (too much Animal Planet)...I was a complete ignorant, doing business...trying to learn as fast as possible, trying to read the Disney World´s tourist guidebook while driving towards Orlando.

Thank you very much for your time and books..!!!

I would like to turn that around and say "creative knowledge is money".

As much as I have learned from Robert and will continue striving to learn about how money works in this quickly changing world, I think we all need to be careful about latching on to one guru and doing as they do. We need to diversify our education base and personalize what we learn so that we can best serve ourselves and our own local community (think global, act local).

I highly respect Robert (his books have literally saved me from emotional and financial dispair), but we need to use his, and others like him, wisdom as a diving board to look inward and find what is best for us personally and locally.

The point I am trying to make is we all can't follow the same path to happiness and wealth. We have to decide for ourselves individually what exactly each of those means to us and not look down upon or be jealous of the next individual who wants more or less than we do. Sometimes this means doing a soul searching reality check when these emotions arise in us.

In order for each of us to find our path, I think a well diversified education in creative thinking in respect to our financial education would go a long way.

I received absolutely no financial education, and realize now how important it is to have one. There are many people like me, who also probably don't know how to get that education. I think a great addition to this chapter would be some suggestions for that. Maybe a list of books, or classes to attend (are there good ones that teach the truth?).

Well in my family now and for long time we think that "Knowledge is Power" an wen yuo are in that posicion everythin can chage and I´am not saying in a bad meaning but when i star studing the forms of Robert my power chaeng and I´am meaking a very much improubing in my bussines and my investments that why noe i can´t stop of lernin about money and financial sataff

A couple of observations:

People who make large sums of money in markets have the best and most complete educations, experience that comes from years of work in their specialized field working with others who mentor them. They also have information flows that aren't available to us common folk. How does someone match that - because these are the main people we share the market with.

A totally different thought - if knowledge is the answer, why is cheating, fraud, theft, lying so much a part of the financial world?

Also, if the curriculum is to be changed to add financial topics, who will teach it? It took our computer illiterate teaching profession 20 years to otain a basic undertanding of computers. How long will these financially challenged people need to educate themselves in financial matters?

I agree that knowledge is vital, but as you have pointed out it is most important to be able to find new information and to be able to adapt and use this new information. We must all learn to think critically and independently in order to utilize new information and technology.

Money is knowledge. More like money is the result of applied knowledge. The knowledge of cause and effect. It is the basic law of physics. The more knowledge you have on a subject the more cause and effect scenarios you know. The more scenarios you know the better the chance that one of them will repeat. Because thats what history does, it repeats itself.

Yes the names change but the underlying events stay the same. It is this repetition of history that makes the rich richer and the poor poorer. The only way to understand these causes and effects is to understand the history of the subject.

There are only 2 ways to learn about history. The first is to read a book. The second is to create history by doing. Take a pole of how many Americans read a non-fiction book this month and how many went to the gym and you will quickly understand why America is where it is today.

At fifty years ago, the world is industral age, when employee retired can provide by Company. Why were they provide by Company? Because legal were not complete. When if you retired at 65, until 110 years old, the company must be provide on 45 years to you. Until, the government started to DC. The means you can take on contribution on retire. In Hong Kong etc, the employee retired, they were provide by company on before 1997. But after 1997, the employee can take contribution on retire. In fact, I worked in restaurant, the company not contributed on MPF, the MPF means like 401K plans.

In information age, most of the company cut staff to automatic. e.g. the HSBC Bank are automatic bank. means e-banking. Now, I put cheque, money need to ATM, automatic bank, e-banking only. And I achieved B quadrant is Blog only, because my Blog add system, e.g. different language, links, Friend Lists. Today, became B quadrant is lower cost, because we use internet explorer, they were not time, space on limit.

My Blog:
http://jessekevinsammak.mysinablog.com