Stop Telling Your Kids To Go To College
Once upon a time, all a person had to do was go to college and they were virtually assured that they would earn more money than those who did not graduate from college.
Today, this is a fairytale.
Millions of parents continue to advise their children, “Go to school and get a college degree so you can get a high-paying job.”
Parents recite this mantra even though unemployment is high among young people – including those with college degrees.
Many college graduates, unable to ﬁnd work, go on to graduate school for advanced degrees.
They then leave school even deeper in student-loan debt, still searching for that elusive high-paying job.
Good grades and academic success can be a double-edged sword.
In the short term, being lauded as an “A” student on the fast track to corporate success may open a few doors and help what colleges and universities anoint as the “best and brightest” graduates land jobs.
I’m not suggesting that kids should drop out of school, or that school is not important.
Education is very important.
The question is: What kind of education?
And where will that education take them?
Will their education prepare them for their future?
Will a good education help their ﬁnancial security in a world with less and less security?
We’ve seen what the last eight months were like for those that thought that their college education would ensure a safe and secure future.
Millions found out there’s no such thing as security.
13 Ways To Take Control Of Your Financial Education
At Rich Dad, we believe that it’s financial education, not higher education that leads to success.
The following are thirteen ways to get the financial education you need to secure your financial future:
- Read books
There are hundreds of books about money and investing for those of you who are just getting started and for those who are seasoned investors. Don’t know where to start? Begin with one of my books: Rich Dad Poor Dad: What the Rich Teach Their Children that the Poor and Middle Class Do Not! or Rich Dad’s Guide to Investing: What the Rich Invest in That the Poor and Middle Class Do Not
- Listen to audiobooks and podcasts
Your drive time is a great time to learn. Load up your smartphone with great audiobooks and subscribe to podcasts about finance, investing, management, personal development, and more. The Rich Dad Radio Show is a great first step.
- Invest in educational seminars, workshops, and conferences
These may be free programs in your area or classes you pay to attend. Various community colleges, businesses, community clubs and organizations, and local investment groups often offer such programs.
- Read financial newspapers and magazines
The Wall Street Journal, Investor’s Business Daily, and Barron’s are three newspapers heaped with investment information. Reading those daily will dramatically increase your financial knowledge. And to get a beat on what is happening in your area, subscribe to your local business journal newspaper.
- Talk with the right real estate, stock, and business brokers
Ask them questions. They can give you a ton of information. Just be aware they also are there to sell you something. So keep your eyes open. I have found the most successful brokers are the ones very willing to share information and education with others.
- Talk with other investors
Seek out people who are investing in what you are interested in and talk with them. Again, you’ll probably find that the more successful investors are happy to share what they know with you.
- Join an investment club
I recommend clubs that are focused on investment education, not those that pool money to invest.
- Join a CASHFLOW Club in your area
There are almost 2,000 CASHFLOW Clubs throughout the world. Most clubs play the CASHFLOW game regularly, support one another with their investment goals, bring in guest speakers, and learn together how to make the most of their financial futures. You can also play CASHFLOW online for free with strangers from all around the world.
- Surf the web
Go online and seek out all sorts of information about the investments of your choice. The Web is an incredible source of quick reference materials, meetings and conferences, contacts, blogs, chat rooms, and discussion forums.
- Drive around town
Get a feel for what is happening with real estate and business in your own backyard. You don’t need to find the “right” city or market to invest in. You simply need to find what’s “right” about your city and market.
- Watch financial news programs on TV
There are several cable programs that are focused on business and investing news. Turn them on when you get ready in the morning. Watch them while you work out. Always find a way to stay informed.
Newsletters can give you a quick summary of what is happening in the various investment markets, economic trends both regionally and globally, and insights into what to watch for in the future.
- Ask questions
Since we know financial investment education is not taught in schools, we don’t have to pretend to know all the answers. The more questions you ask, the smarter you become. Plus, you may find a new mentor in the process.
Invest In Financial Education
There are many causes for the ﬁnancial crises the world faces. The lack of ﬁnancial education in our schools is only one of them.
One reason schools fail students is simply because the school system cannot keep pace with change.
Our current education system was founded in the Agrarian Age, marginally updated for the Industrial Age, and sorely lacking, in my opinion, in its ability to serve today’s kids living in a fast-paced, ever-changing Information-Age world.
In this Information Age, the emperor of education truly does have no clothes. And, thanks to the innovations of modern-day entrepreneurs, quality education can be aﬀordable and accessible. And, like the era when Henry Ford made the automobile aﬀordable for almost everyone, today’s true capitalists are doing that with education.
Changing our default future starts with changing our mindset today!
Don’t rely on college for success. Remember, education never stops. As long as you want to keep growing your investments and expanding your portfolio, there are always new levels of learning.
Take your future into your own hands and see how far you can soar.
Editor, Rich Dad Poor Dad Daily