Recently I am reading this book 'Rich Dad Poor Dad' by Robert T. Kiyosaki. It was inspiring as it triggered some thoughts in me for my future. Here are some information and sharing:
Firstly, I understand that just by going to school, get good grades and look for a secure job in the future are not enough. Although my results in school were not very fantastic, I thank God because that is not the end of it. We still have hope! (For those whose school results are also not as good and you are thinking of giving in to life). Education is the foundation of success and is important, so are financial skills and communication skills.
Secondly, I learnt and am convicted that I do not want to be involved in this 'Rat Race' that would bring self-destruction.
Illustrations of 'Rat Race' =) Taken from the book 'Rich Dad Poor Dad'.
- A happy and highly educated young couple recently got married and move in together in a cramped rented apartment.
- Apartment is cramped so they decide to save money to buy their dream home and have kids.
- Both have good income and they begin to focus on their career to realise their dreams.
- As their incomes begin to increase, their expenses increase as well.
- Taxes increase as well.
- Once income is sufficient for the couple, they decide to buy their dream home. When they do that, they are starting to pay property tax as well.
- After which, they continue to buy a new car, new furniture and new appliances to match their new home.
- As a result, credit card debt goes up and now they are trapped in the 'Rat Race'.
- Not only that, a child comes along and this caused the couple to work even harder and the process repeats itself.
All these that I mentioned are not wrong. It has been a process for many couples in life. However, if I can make another choice, I will choose not to go through this same process like many couples did.
What's the solution recommended by this book?
1) Increase your assets and decrease your liabilities.
2) Increase your investment.
3) Be creative and start your own business that does not require you to be there physically all the time but still keep your day time job.
To be continued.......
Yongheng
City Harvest Church, N499
Prudential
93834534
yongheng16@hotmail.com
