How important is the Financial Knowledge?

Recently, I have been busy around with my "baby" business. And, I have met some guys from business faculty, some were from entrepreneurship program. (Business, is the course which I would go for, no doubt, for my Bachelor's Degree if I had the chance to start University over again.) These guys are kind, outstanding... capable in his area of expertise which... I felt really impressive.

However, when we talked about the career and goals... I found out a special phenomena, or rather, a sequence. Whereby... 80% of the people told me, their plans in future/career is to get a high pay job --> become a manager --> buy car --> loan & buy a house on mortgage --> be completely insured by good retirement & insurance plans --> invest in stocks --> make some money in his investments (I would rather see it as "speculation", as it highly depends on LUCK) --> retire --> find a place to stay forever (you get what I mean :p)

I agree that Singapore has the best education system and quality in Asia. Yes, but only in academic wise, not its financial education.

Singapore is a country, which absorbs the smartest, the most talented, the genius group of people all around the world. People with higher education level tend to aim for a higher salary in the first job. Especially, people with professional skills, with high qualification (degree & above) they are not so willing to work from the ground. This is very common that, I always hear from my peers around me, they are aiming for good grades (erm.. should be EXCELLENT grades), in exchange for a better pay job in the future.

They feel great when they are "sharing" with others about their good grades. They never tell, but I can sense that, they are quite assured and believe that, by having good grades, they will be leading to their bright future, their dream, and their so called... well-planned career and life.

I am not going to say, it is wrong to have this mindset. Everyone lives for a reason. Different people aim to achieve different goals in life. Some people like simple, normal life. It's totally fine.

However, if there was someone telling me: hey, I want to earn my first million in my 30's, I want to enjoy my life and retire by 40's... bla bla bla... If that "someone" is doing exactly what my peers are doing everyday, I wish I could tell him/her honestly that:

"hey, stop dreaming and you are going to work like an ant, like how your parents did! "

Hey, I am not trying to be ego nor showing off. What I have mentioned, was written in Robert Kiyosaki's book - the best selling book in the century -Rich Dad Poor Dad. I swear, Robert's words have totally changed my mindset and my life after I read his awesome bible!

The two clips attached below, show the new concept and rules of money. It's fundamental, but yet, it's USEFUL for people who are lacking of financial knowledge. It differentiates the mindsets between the rich, and the poor. I like the concept of E/S/B/I, which has been carried out in his second book of Rich Dad Series, called Cashflow Quadrant. These clips (especially the 2nd part) will briefly introduce the ESBI concept.

3 Cheers for Robert and his sharing! Thumbs up!

Don't hesitate to share your words here. You are the most welcome to share, and Richie is always here to hear and learn from you. :)

Regards,

Richie