LOL, as teacher who had said a lot of the things Poor Dad said about money this book was a horror story with a happy ending.
Re: Kiyosaki RT, Lechter SL (2000) Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money--That the Poor and Middle Class Do Not! Business Plus
Yeah, what really got me about working at community college was that there were teachers who had assets such as rental properties and struggling adjuncts like myself. One teacher owned an entire apartment complex in the Bay Area. The teachers who had assets never had to worry about their jobs. In this sense a culture divide was kind of made between "Rich" teachers were truly not in it for the money, as other quote on quote "Poor" teachers had more liabilities and therefore had to work. It wasn't as if neither one didn't care about the students nor that adjuncts didn't have access to incomes between $16,000 to $90,000, but that income difference was there.
I have met millionaires in California: Some who didn’t like me because I was not wealthy, and others who were really cool because they understood my choice to be a teacher. I also saw the effects of the 2008 crisis on many of the wealthy engineers whose primary assets were based on a good UC education and past inventions with start-up engineer firms. These entrepreneurial engineers sold their companies to bigger companies to avoid direct competition and expenses. For example, medical technology has to be approved by the FDA (Food and Drug Administration) and larger firms already have the infrastructure to implement the necessary testing to get a product out faster, as a small start-up does not.
These engineers increase their assets from the liability of owning their own companies. These people who retired at the ages of 35 to 40 had done their best to maintain their assets. After retirement, some of them actually lost a lot of their assets post 2008. They really had to assess their lives and figure the next step. Unfortunately, I lost connection with them. I really wanted to know what happened because I care and if I do find myself in a similar situation, I wanted to learn from their decisions. Similar advice noted in Rich Dad Poor Dad.
Thinking back about our last class, where Guy Kawasaki explains that company's think about the money don't make money, and company's that think about something beyond making money, make money, I realize my life as a “Poor” teacher was not wrong, but working for the government was limiting. In Rich Dad Poor Dad, I agree with “financial choices” can get you out of the Rat-Race, but I think for myself the most important lesson is that money is not evil, it’s a tool that can help people. Moreover, I became a teacher to help people; thus, money as a tool is synonymous with my philosophy as a teacher.
When putting together a business plan with very little personal assets, the people that have been interested in helping us start a company we’re not really interested in the return, but who we “are” and what we wanted to “do”. These potential investors see money as a tool to help people, and I can only hope that the company that I’m trying to form gives me the same ability to be an “Indian-Giver” and help people make a living from their passions. Note: the history and misconception of “Indian-Giving” is in Rich Dad Poor Dad’s later chapters, and I apologize if I offended anyone, but it really helped me form my philosophy when approaching investors I can work with. Also note: the term really reflects returns and wealth generation from ventures very well.
LOL, I’m actually praying that the things I’m working towards actually pay off at the end of the world in 2012.
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