Need For Wealth Education (1)

Today, we begin a series on Wealth Education which will span for some weeks. If there is one thing nations and individuals most desperately need for meeting various responsibilities and obligations, it is wealth. How come that, particularly at the individual level, the greater majority of mankind lacks enough resources to meet the basic needs of life? Truth is, most people don’t have wealth education. That is why every person who really desires wealth should embrace wealth education.

Let me make this point very clear, poverty is caused by lack of wealth education more than anything else. Unfortunately, this important aspect of the human life is not taught at school, not even in departments of accounting and finance across the universities all over the world. It may also interest you to know that having a degree in finance, accounting, economics, statistics, and banking is not equal to having wealth education. Some of those professionals are still struggling how to make ends meet. 

Specifically, WEALTH EDUCATION is the ability to convert cash or labour into assets that provide cash flow. Its components include business skills, money skills and investment skills.

The gains of wealth education include the following: (i) It will enable you know what to focus on in life; this way you’ll see that wealth is not far-fetched, it is right where you are. It takes wealth education to see an investment. (ii) Through this education you’ll discover the thought patterns of the poor as compared to the thought patterns of the rich. Our thinking habits have very much to do with wealth creation. This will help you improve your thinking habits. (iii) You’ll also know the wealth quadrant you belong to. Robert Kiyosaki, author of Rich Dad Poor Dad divides the quadrant into (a) Employees and (b) Self-Employed Persons, on the left-hand side, and (c) Business Owners and (d) Investors, on the right-hand side. 

Employees ARE GIVEN a job; self-employed persons OWN a job; business owners OWN a system; and investors OWN investment. The best ways to generate wealth are on the right side.  Honestly, if your goal is to generate wealth, you need to be working your way towards the right side.

Kiyosaki claims that the two quadrants on the right side (business owners and investors) own 90% of the world’s assets. Isn’t the right side always the better side to be in life? Wealth education will show you how to go over there if you are on the left side of the quadrant at present. Watch out for the continuation.