Page 148 - Rich Dad Poor Dad for Teens: The Secrets about Money--That You Don't Learn in School!

to the library to get more. He reads the Wall Street Journal voraciously,
watching for indicators, and he watches CNBC instead of MTV. He's got
only $1,000 left, but his interest and learning are sky high. He knows that if

he loses that money, he walks for two more years. But he does not seem to
care. He even seems
uninterested in getting a car because he's found a game that is more
fun."
“What happens if he loses all the money?” I asked.
“We'll cross that bridge when we get to it. I'd rather have him lose
everything now rather than wait till he's our age to risk losing everything.

And besides, that is the best $3,000 I've ever spent on his education. What
he is learning will serve him for life, and he seems to have gained a new
respect for the power of money. I think he's stopped the burning of holes in
his pockets.”
As I said in the section “Pay Yourself First,” if a person cannot master
the power of self-discipline, it is best not to try to get rich. For while the

process of developing cash flow from an asset column in theory is easy, it is
the mental fortitude of directing money that is hard. Due to external
temptations, it is much easier in today's consumer world to simply blow it
out the expense column. Because of weak mental fortitude, that money
flows into the paths of least resistance. That is the cause of poverty and
financial struggle.
I gave this numerical example of financial intelligence, in this case the

ability to direct money to make more money. If we gave 100 people
$10,000 at the start of the year, I gave my opinion that at the end of the
year:
80 would have nothing left. In fact, many would have created I greater
debt by making a down payment on a new car, refrigerator, TV, VCR or a
holiday. 16 would have increased that $10,000 by 5 percent to 10 percent. 4

would have increased it to $20,000 or into the millions.
We go to school to learn a profession so we can work for money. It is
my opinion that it is also important to learn how to have money work for
you.
I love my luxuries as much as anyone else. The difference is, some
people buy their luxuries on credit. It's the keep-up-with-the-Joneses trap.
When I wanted to buy a Porsche, the easy road would have been to call my