Lessons Learned In Rich Dad, Poor Dad

Despite the importance of finance, accounting, and consumer intelligence, these topics are typically neglected in high schools. Unfortunately, personal finance is often learned by trial and error. The problem with this method of learning is that it only takes one costly financial mishap to set you back for years. This is why I created a basic personal finance book for total beginners. With these concepts you can use the other books in the Smart Money series to further build your knowledge of personal finance topics.

The author of this book, Dave Ramsey, is a man who has gone through many struggles in his life. Throughout his book he talks about the times when he went bankrupt and couldn’t provide for his family. Dave Ramsey sat down and wrote a plan on how to be smart with your money. Ramsey says, “The principles are not mine. I stole them all from God and your grandmother” (xi). He talks about how these are not new ideas and that these are not theories because they are proven to work every single time. The central concept of this book is to help people succeed in life with money but also their personal relationships. Ramsey wants to give people hope and happiness by playing a small role in their financial freedom.

In this society, some of the most important things in your life have to deal with money. In Chad Foster’s book, Financial Literacy for Teens, he taught his readers how to save, spend, invest and give away your money. Reading this book has taught me to start saving when I’m young, know the differences of what I need to buy rather than what I want, to make money while I sleep and giving away some of your money will not only help yourself, but help many others as well.

After reading each of the sample essays I decided that I was going to write about the ones I connected to. Brian Musser "My Father's Son", Kelley Pheng "Small Asain Women", and Michelle Andreetta "Life with Marvin" are the essays that I can relate to.

The goal of this course is to get you thinking about personal finance issues at a point in your life when you still have time to benefit from the power of time in generating wealth to accomplish your other life goals. The financial decisions you make early in life with determine in great extent the quality of life you will enjoy later, especially given the turbulent and uncertain economic conditions. Money isn’t everything, but a lack of it will impact almost every aspect of your life and those who surround you.

In the book, Rich Dad Poor Dad, Robert tries to debug the basement beliefs and how they affect the financial life of many individuals. Through the book, Robert states that individuals in the current culture concentrate on going to school, getting a job, and living a rat race and end up being financially unstable. In the book by David Allen, the author states that people should concentrate on stress-free productivity by focusing on relaxing, which boosts our productivity. Allen debugs on the popular belief by people that they should be very busy in order to be productive and align goals with the current operations.

The definition of a Deadbeat is a parent of either gender who have freely chosen not to be supportive parents or who do not pay their child support obligations. The most common criticism is the term itself which many view as scornful and insulting. In the state of Arizona, the policies involving child support are not aimed specifically at “Deadbeat Dads” and instead focus equally on mother’s and father’s. Due to this, I found it difficult to find information pertaining only to fathers. However, after thorough research and based on the text ““Deadbeat Dads”: Irresponsible Parents or Political Scapegoats?” I can understand why fathers are more often targeted considering they make up the vast majority of noncustodial parents.

In reality, it is not the economy, but how the economy’s rules are set up that determines who benefits from the wealth generated. For instance, any one of the ten wealthiest individuals in America made enough money in 2012 to pay the cost of individual housing for every homeless person in America for an entire year. Upon comparing 141 different countries, the United States ranked 4th-highest in wealth inequality, with only Ukraine, Lebanon and Russia having a more polar distribution of wealth. These statistics would not present a problem if only Americans could work their way up the socioeconomic ladder. Despite their efforts, however, much of the data shows that upward mobility is improbable if not impossible in many cases.

The Dumbest Generation, Rich Dad and Poor Dad, and Macbeth were some of the required readings that I thoroughly enjoyed in the past year. The Dumbest Generation really opened my eyes to the detrimental effects of the misuse of technology especially on academics. Rich Dad and Poor Dad really motivated me to never render myself into categories and suppress my potential and abilities because in the book which was narrated by the poor dad, it emphasized how anything is possible with perseverance and determination. The narrator explained his journey from being a poor dad to becoming a rich dad. Macbeth is a classic which is known and loved by many. In my case, Macbeth quickly became one of my favorites due to the story line which had a lot of twists

It’s very important to develop yourself everyday, to think outside the box. I like Einstein observation, that “the significant problems we face today cannot be solved at the same level of thinking we were at when we created them”. In order to solve them we need to experience a reframing. I learned this lesson from one big training for leaders in Austria and now I was surprised to hear about this again. So it is really easy, if I want to get something bigger – salary, fame, recognition, fun, time – I need to start to do something differently. During one class at the Miami Dade College I was trying to figure out current problem, that separates me from next level of development and I decided to create a paradigm shift and change my environment for more successful people with positive emotions, to break with my traditions of spending time and old ways of thinking and find friends in more successful reality and avoid people with defensive pessimism. For this step it is important to have a fresh perspective or different viewpoint. It is clearly that each of my friends, co-workers, members of my family is a reflection of myself, my choices and my believes. Something in me wants to keep things as they are. But for getting to my dreams of being successful and effective in my personal life, in my relationship and my career, making myself healthier, happier and more effective, I need to do something differently.

The purpose of this memo is to address each of the loans made to family members by Brunswick this year from a tax perspective.

This book shows the simple spending and saving habits that lead to more cash in the bank than most people earn in their life, and helps to avoid the pitfalls some potential future millionaires

There is much controversy regarding whether a financial literacy course should be mandatory, or not even brought into the school systems at all. In all of the America, only 13 states require a financial literacy course. Managing one's money can be very difficult and challenging. Now is the time we have to ask ourselves whether or not this course would be beneficial for students. Getting older means gaining more responsibilities; and once graduating from high school, a person gets thrown into the real world, where they have to balance their spendings and know how to manage their income.

Many believe that financial literacy classes are helpful and a good tool for you in the future. Finance is a waste of time and the classes do not help you in any case. The material taught in these classes are not used in everyday life and the methods used in the class are not helpful in any way.

This statement is rather shocking but proves why high school students should be taught financial literacy. Financial literacy is the ability of learning how to manage money. Financial literacy should be taught because, more people have been going bankrupt at a younger age, they have more debt options, and lastly are unable to manage money because they have never been taught. This is not just a problem for an individual, but potentially a huge problem in this country’s future.