Page 206 - Rich Dad's Increase Your Financial IQ: Get Smarter with Your Money

Chapter 10

Developing Your Financial IQ

SOME PRACTICAL APPLICATIONS

This book has been about developing your financial intelligences and
raising your financial IQ. As I wrote earlier, you need to have the integrity
of all five financial intelligences to become rich and successful. I know this
is easier said than done. Developing your five intelligences is a lifelong

process, one that cannot be accomplished in a day or even a year. I am
continually working on developing my intelligences, and I encourage you to
do so as well. This chapter provides some practical ways to hone your
financial IQ.

Many financial advisors recommend investing for the long term. Most of
them really mean for you to turn your money over to them so they can
collect commissions for the long term. The problem with this advice is that
you do not learn much, if anything at all. At the end of the long term, you

are not necessarily financially smarter, and you have not developed your
financial IQ. On top of that, most long-term investors invest in high-risk
investments that offer low returns and very little control.
Instead of blindly following your financial advisor’s advice, you may

want to consider investing in long-term transitional environments that
strengthen all three brains and provide opportunities to strengthen your
financial IQ. You should look for transitional environments that will
develop all three of your brains and your genius in a practical way. Some

examples of transitional environments are: