why bother developing your financial IQ?

I'd rather be excited about making millions than worrying about not getting a raise.

So why bother developing your financial IQ?
 Because if you do, you will prosper greatly.
 And if you don't, this period of time will be a frightening one. It will be a time of watching people move boldly forward while others cling to decaying life rings.

Today, it is information. And the person who has the most timely information owns the wealth. The problem is, information flies all around the world at the speed of light. The new wealth cannot be contained by boundaries and borders as land and factories were. The changes will be faster and more dramatic. There will be a dramatic increase in the number of new multimillionaires. There also will be those who are left behind.

Today, I find so many people struggling, often working harder, simply because they cling to old ideas. They want things to be the way they were; they resist change. I know people who are losing their jobs or their houses, and they blame technology or the economy or their boss. Sadly they fail to realize that they might be the problem.
Old ideas are their biggest liability. It is a liability simply because they fail to realize that while that idea or way of doing something was an asset yesterday, yesterday is gone.

"Being one skill away from great wealth."

What this phrase means is that most people need only to learn and master one more skill and their income would jump exponentially.
I have mentioned before that financial intelligence is a synergy of accounting, investing, marketing and law. Combine those four technical skills and making money with money is easier. When it comes to money, the only skill most people know is to work hard.



There is another horrible management theory that goes, "Workers work hard enough to not be fired, and owners pay just enough so that workers won't quit." And if you look at the pay scales of most companies, again I would say there is a degree of truth in that statement.

The net result is that most workers never get ahead. They do what they've been taught to do: "Get a secure job."
Most workers focus on working for pay and benefits that reward them in the short term, but is often disastrous in the long.

Instead I recommend to young people to seek work for what they will learn, more than what they will earn. Look down the road at what ; skills they want to acquire before choosing a specific profession and before getting trapped in the "Rat Race."

Once people are trapped in the lifelong process of bill paying, they become like those little hamsters running around in those little metal wheels. Their little furry legs are spinning furiously, the wheel is turning furiously, but come tomorrow morning, they'll still be in the same cage: great job.

The world is filled with talented poor people. All too often, they're poor or struggle financially or earn less than they are capable of, not because of what they know but because of what they do not know.

They focus on perfecting their skills at building a better hamburger rather than the skills of selling and delivering the hamburger.
Maybe McDonald's does not make the best hamburger, but they are the best at selling and delivering a basic average burger.

QUOTED
Rich dad advised that Mike and I "groom" ourselves.

Many corporations do the same thing. They find a young bright student out of business school and begin "grooming" that person to someday take over the company.

So these bright young employees do not specialize in one department; they are moved from department to department to learn all the aspects of business systems.

The rich often "groom" their children or the children of others. By doing so, their children gain an overall knowledge of the operations of the business and how the various departments interrelate.