富爸爸,穷爸爸(英文版)-第9部分

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　〃Get　a　bill　consolidation　loan　and　get　out　of　debt。〃　　〃Work　harder。〃　　〃It's　a　promotion。〃　〃Someday　I'll　be　a　vice　president。〃　〃Save　money。〃　〃When　！　get　a　raise；　I'll　buy　us　a　bigger　house。〃　　〃Mutual　funds　are　safe。〃　〃Tickle　Me　Elmo　dolls　are　out　of　stock；　but　I　just　happen　to　have　one　in　back　that　another　customer　has　not　e　by　for　yet。〃
Many　great　financial　problems　are　caused　by　going　along　with　the　crowd　and　trying　to　keep　up　with　the　Joneses。　　Occasionally；　we　all　need　to　look　in　the　mirror　and　be　true　to　our　inner　wisdom　rather　than　our　fears。
By　the　time　Mike　and　I　were　16　years　old；　we　began　to　have　problems　in　school。　We　were　not　bad　kids。　We　just　began　to　separate　from　the　crowd。　We　worked　for　Mike's　dad　after　school　and　on　the　weekends。　　Mike　and　I　often　spent　hours　after　work　just　sitting　at　a　table　with　his　dad　while　he　held　meetings　with　his　bankers；　attorneys；　accountants；　brokers；　investors；　managers　and　employees。　Here　was　a　man　who　had　left　school　at　the　age　of　13；　now　directing；　instructing；　ordering　and　asking　questions　of　educated　people。　They　came　at　his　beck　and　call；　and　cringed　when　he　did　not　approve　of　them。
Here　was　a　man　who　had　not　gone　along　with　the　crowd。　　　He　was　a　man　who　did　his　own　thinking　and　detested　the　words；　〃We　have　to　do　it　this　way　because　that's　the　way　everyone　else　does　it。〃　He　also　hated　the　word　〃can't。〃　If　you　wanted　him　to　do　something；　just　say；　〃I　don't　think
you　can　do　it。〃
Mike　and　I　learned　more　sitting　at　his　meetings　than　we　did　in　all　our　years　of　school；　college　included。　Mike's　dad　was　not　school　educated；　but　he　was　financially　educated　and　successful　as　a　result。　　He　use　to　tell　us　over　and　over　again。　　〃An　intelligent　person　hires　people　who　are　more　intelligent　than　they　are。〃　So　Mike　and　I　had　the　benefit　of　spending　hours　listening　to　and；　in　the　process；　learning　From
intelligent　people。
But　because　of　this；　both　Mike　and　I　just　could　not　go　along　with　the　standard　dogma　that　our　teachers　preached；　And　that　caused　the　problems。　Whenever　the　teacher　said；　〃If　you　don't　get　good　grades；　you　won't　do　well　in　the　real　world；〃　Mike　and　I　just　raised　our　eyebrows。　When　we　were　told　to　follow　set　procedures　and　not　deviate　from　the　rules；　we　could　see　how　this　schooling　process　actually　discouraged　creativity。　We　started　to　understand　why　our　rich　dad　told　us　that　schools　were　designed　to　produce　good　employees　instead　of　employers。
Occasionally　Mike　or　I　would　ask　our　teachers　how　what　we　studied　was　applicable；　or　we　asked　why　we　never　studied　money　and　how　it　worked。　To　the　later　question；　we　often　got　the　answer　that　money　was　not　important；　that　if　we　excelled　in　our　education；　the　money　would　follow。
The　more　we　knew　about　the　power　of　money；　the　more　distant　we　grew　from　the　teachers　and　our　classmates。
My　highly　educated　dad　never　pressured　me　about　my　grades。　I　often　wondered　why。　　But　we　did　begin　to　argue　about　money。　By　the　time　I　was　16；　I　probably　had　a　far　better　foundation　with　money　than　both　my　mom　and　dad。　　I　could　keep　books；　I　listened　to　tax　accountants；　corporate　attorneys；　bankers；　real　estate　brokers；　investors　and　so　forth。　　My　dad　talked　to　teachers。
One　day；　my　dad　was　telling　me　why　our　home　was　his　greatest　investment。　A　not…too…pleasant　argument　took　place　when　I　showed　him　why　I　thought　a　house　was　not　a　good　investment。
The　following　diagram　illustrates　the　difference　in　perception　between　my　rich　dad　and　my　poor　dad　when　it　came　to　their　homes。　One　dad　thought　his　house　was　an　asset；　and　the　other　dad　thought　it　was　a　liability。
I　remember　when　I　drew　a　diagram　for　my　dad　showing　him　the　direction　of　cash　flow。　　I　also　showed　him　the　ancillary　expenses　that　went　along　with　owning　the　home。　A　bigger　home　meant　bigger　expenses；　and　the　cash　flow　kept　going　out　through　the　expense　column。
Today；　I　am　still　challenged　on　the　idea　of　a　house　not　being　an　asset。　And　1　know　that　for　many　people；　it　is　their　dream　as　well　as　their　largest　investment。　And　owning　your　own　home　is　better　than　nothing。　I　simply　offer　an　alternate　way　of　looking　at　this　popular　dogma。　If　my　wife　and　I　were　to　buy　a　bigger；　more　flashy　house　we　realize　it　would　not　be　an　asset；　it　would　be　a　liability；　since　it　would　take　money　out　of
our　pocket。
So　here　is　the　argument　I　put　forth。　I　really　do　not　expect　most　people　to　agree　with　it　because　a　nice　home　is　an　emotional　thing。　　And　when　it　es　to　money；　high　emotions　tend　to　lower　financial　intelligence。　　1　know　from　personal　experience　that　money　has　a　way　of　making　every　decision　emotional。
1。　When　it　es　to　houses；　I　point　out　that　most　people　work　all　their　lives　paying　for　a　home　they　never　own。　　In　other　words；　most　people　buy　a　new　house　every　so　many　years；　each　time　incurring　a　new　30…year　loan　to　pay　off　the　previous　one。
2。　Even　though　people　receive　a　tax　deduction　for　interest　on　mortgage　payments；　they　pay　for　all　their　other　expenses　with　after…tax　dollars。　Even　after　they　pay　off　their　mortgage。
3。　Property　taxes。　My　wife's　parents　were　shocked　when　the　property　taxes　on　their　home　went　to　1；000　a　month。　This　was　after　they　had　retired；　so　the　increase　put　a　strain　on　their　retirement　budget；　and　they　felt　forced　to　move。
4　Houses　do　not　always　go　up　in　value。　　In　1997；　I　still　have　friends　who　owe　a　million　dollars　for　a　home　that　will　today　sell　for　only　700；000。
5。　The　greatest　losses　of　all　are　those　from　missed　opportunities。　　If　all　your　money　is　tied　up　in　your　house；　you　may　be　forced　to　work　harder　because　your　money　continues　blowing　out　of　the　expense　column；　instead　of　adding　to　the　asset　column；　the　classic　middle　class　cash　flow　pattern。　If　a　young　couple　would　put　more　money　into　their　asset　column　early　on；　their　later　years　would　get　easier；　especially　as　they　prepared　to　send　their　children　to　college。　Their　assets　would　have　grown　and　would　be　available　to　help　cover　expenses。　All　too　often；　a　house　only　serves　as　a　vehicle　for　incurring　a　home…equity　loan　to　pay　for　mounting　expenses。　In　summary；　the　end　result　in　making　a　decision　to　own　a　house　that　is　too　expensive　in　lieu　of　starting　an　investment　portfolio　early　on　impacts　an　individual　in　at　least　the　following　three　ways：


1。　Loss　of　time；　during　which　other　assets　could　have　grown　in　value。
2。　Loss　of　additional　capital；　which　could　have　been　invested　instead　of　paying　for　high…maintenance　expenses　related　directly　to　the　home。
3。　Loss　of　education。　Too　often；　people　count　their　house；　savings　and　retirement　plan　as　all　they　have　in　their　asset　column。　Because　they　have　no　money　to　invest；　they　simply　do　not　invest。　This　costs　them　investment　experience。　　Most　never　bee　what　the　investment　world　calls　a　〃sophisticated　investor。〃　And　the　best　investments　are　usually　first　sold　to　〃sophisticated　investors；〃　who　then　turn　around　and　sell　them　to　the　people　playing　it　safe。　I　am　not　saying　don't　buy　a　house。　I　am　saying；　understand　the　difference　between　an　asset　and　a　liability。　When　I　want　a　bigger　house；　I　first　buy　assets　that　will　generate　the　cash　flow　to　pay　for　the　house。
My　educated　dad's　personal　financial　statement　best　demonstrates　the　life　of　someone　in　the　rat　race。　　His　expenses　seem　to　always　keep　up　with　his　ine；　never　allowing　him　to　invest　in　assets。　As　a　result；　his　liabilities；　such　as　his　mortgage　and　credit　card　debts　are　larger　than　his　assets。　　The　following　picture　is　worth　a　thousand　words：

Educated　Dad's　Financial　Statement

Ine=Expense
Asset　《　Liability

My　rich　dad's　personal　financial　statement；　on　the　other　hand；　reflects　the　results　of　a　life　dedicated　to　investing　and　minimizing　liabilities：

Rich　Dad's　Financial　Statement

Ine　》　Expense
Asset　》　Liability

A　review　of　my　rich　dad's　financial　statement　is　why　the　rich　get　richer。　The　asset　column　generates　more　than　enough　ine　to　cover　expenses；　with　the　balance　reinvested　into　the　asset　column。　The　asset　column　continues　to　grow　and；　therefore；　the　ine　it　produces　grows　with　it。
The　result　being：　The　rich　get　richer！

Why　the　Rich　Get　Richer

Ine　…》　Assets　…》　More　Ine
Expenses　are　low；　Liabilities　are　low

The　middle　class　finds　itself　in　a　constant　state　of　financial　struggle。　Their　primary…　ine　is　through　wages；　and　as　their　wages　increase；　so　do　their　taxes。　Their　expenses　tend　to　increase　in　equal　increments　as　their　wages　increase；　hence　the　phrase　〃the　rat　race。〃　They　treat　their　home　as　their　primary　asset；　instead　on　investing　in　ine…producing　assets。

Why　the　Middle　Class　Struggle

Ine　goes　up；　Expenses　go　up
Assets　do　not　increase；　Liabilities　do　increase

This　pattern　of　treating　your　home　as　an　investment　and　the　philosophy　that　a　pay　raise　means　you　can　buy　a　larger　home　or　spend　more　is　the　foundation　of　today's　debt…ridden　society。　This　process　of　increased　spending　throws　families　into　greater　debt　and　into　more　financial　uncertainty；　even　though　they　may　be　advancing　in　their　jobs　and　receiving　pay　raises　on　a　regular　basis。　This　is　high　risk　living　caused　by　weak　financial　education。
The　massive　loss　of　jobs　in　the　1990s…the　downsizing　of　businesses…has　brought　to　light　how　shaky　the　middle　class　really　is　financially。　　Suddenly；　pany　pension　plans　are　being　replaced　by　401k　plans。　Social　Security　is　obviously　in　trouble　and　cannot　be　looked　at　as　a　source　for　retirement。　Panic　has　sei　in　for　the　middle　class。　The　good　thing　today　is　that　many　of　these　people　have　recognized　these　issues　and　have　begun　buying　mutual　funds。　This　increase　in　investing　is　largely　responsible　for　the　huge　rally　we　have　seen　in　the　stock　market。　Today；　there　are　more　and　more　mutual　funds　being　created　to　answer　the　demand　by　the　middle　class。
Mutual　funds　are　popular　because　they　represent　safety。　Average　mutual　fund　buyers　are　too　busy　working　to　pay　taxes　and　mortgages；　save　for　their　children's　college　and　pay　off　credit　cards。　　They　do　not　have　time　to　study　to　learn　how　to　invest；　so　they　rely　on　the　expertise　of　the　manager　of　a　mutual　fund。　Also；　because　the　mutual　fund　includes　many　different　types　of　investments；　they　feel　their　money　is　safer　because　ii　is　〃diversified。〃
This　group　of　educated　middle　class　subscribes　to　the　〃diversify〃　dogma　put　out　by　mutual　fund　brokers　and　financial　planners。　　Play　it　safe。　Avoid　risk。
The　real　tragedy　is　that　the　lack　of　early　financial　education　is　what　creates　the　risk　faced　by　average　middle　class　people。　The　reason　they　have　to　play　it　safe　is　because　their　financial　positions　are　tenuous　at　best。　　Their　balance　sheets　are　not　balanced。　They　are　loaded　with　liabilities；　with　no　real　assets　that　generate　ine。　Typically；　their　only　source　of　ine　is　their　paycheck。　Their　livelihood　bees　entirely　dependent　on　their　employer。
So　when　genuine　〃deals　of　a　lifetime〃　e　along；　those　same　people　cannot　take　advantage　of　the　opportunity。　They　must　play　it　safe；　simply　because　they　are　working　so　hard；　are　taxed　to　the　max；　and　are　loaded　with　debt。
As　I　said　at　the　start　of　this　section；　the　most　important　rule　is　to　know　the　difference　between　an　asset　and　a　liability。　　Once　you　understand　the　difference；　concentrate　your　efforts　on　only　buying　ine…generating　assets。　　That's　the　best　way　to　get　started　on　a　path　to　being　rich。　　Keep　doing　that；　and　your　asset　column　will　grow。　Focus　on　keeping　liabilities　and　expenses　down。　This　will　make　more　money　available　to　continue　pouring　into　the　asset　column。　Soon；　the　asset　base　will　be　so　deep　that　you　can　afford　to　look　at　more　speculative　investments。　　Investments　that　may　have　returns　of　100　percent　to　infinity。　Investments　that　for　5；000　are　soon　turned　into　1　million　or　more。　Investments　that　the　middle　class　calls　〃too　risky。〃　The　investment　is　not　risky。　　It's　the　lack　of　simple　financial　intelligence；　beginning　with　financial　literacy；　that　causes　the　individual　to　be　〃too　risky；〃
If　you　do　what　the　masses　do；　you　get　the　following　picture。

Ine　=　Work　for　Owner
Expense　=　Work　for　Government
Asset　=　（none）
Liability　=　Work　for　Bank

As　an　employee　who　is　also　a　homeowner；　your　working　efforts　are　generally　as　follows：
1。　You　work　for　someone　else。　　Most　people；　working　for　a　paycheck；　are　making　the　owner；　or　the　shareholders　richer。　Your　efforts　and　success　will　help　provide　for　the　owner's　success　and　retirement。
2。　You　work　for　the　government。　The　government　takes　its　share　from　your　paycheck　before　you　even　see　it。　　By　working　harder；　you　simply　increase　the　amount　of　taxes　taken　by　the　government　…　most　people　work　from　January　to　May　just　for　the　government。
3。　You　work　for　the　bank。　After　taxes；　your　next　largest　expense　is　usually　your　mortgage　and　credit　card　debt。
The　problem　with　simply　working　harder　is　that　each　of　these　three　levels　takes　a　greater　share　of　your　increased　efforts。　You　need　to　learn　how　to　have　your　increased　efforts　benefit　you　and　your　family　directly。
Once　you　have　decided　to　concentrate　on　minding　your　own　business；　how　do　you　set　your　goals？　　For　most　people；　they　must　keep　their　profession　and　rely　on　their　wages　to　fund　their　acquisition　of　assets。
As　their　assets　grow；　how　do　they　measure　the　extent　of　their　success？　When　does　someone　realize　that　they　are　rich；　that　they　have　wealth？　As　well　as　having　my　own　definitions　for　assets　and　liabilities；　I　also　have　my　own　definition　for　wealth。　Actually　I　borrowed　it　from　a　man　named　Buckminster　Fuller。　　Some　call　him　a　quack；　and　others　call　him　a　living　genius。　　Years　ago　he　got　all　the　architects　buzzing　because　he　applied　for　a　patent　in　1961　for　something　called　a　geodesic　dome。　But　in　the　application；　Fuller　also　said　something　about　wealth。　　It　was　pretty　confusing　at　first；　but　after　reading　it　for　awhile；　it　began　to　make　some　sense：　Wealth　is　a　person's　ability　to　survive　so　many　number　of　days　forward。。。　or　if　I　stopped　working　today；　how　long　could　I　survive？
Unlike　　worth…the　difference　between　your　assets　and　liabilities；　which　is　often　filled　with　a　person's　expensive　junk　and　opinions　of　what　things　are　worth…this　definition　creates　the　possibility　for　developing　a　truly　accurate　measurement。　　I　could　now　measure　and　really　know　where　I　was　in　terms　of　my　goal　to　bee　financially　independent。
Although　　worth　often　includes　these　non…cash…producing　assets；　like　stuff　you　bought　that　now　sits　in　your　garage；　wealth　measures　how　much　money　your　money　is　making　and；　therefore；　your　financial　survivability。
Wealth　is　the　measure　of　the　cash　flow　from　the　asset　column　pared　with　the　expense　column。
Let's　use　an　example。　Let's　say　I　have　cash　flow　from　my　asset　column　of　S〃J；000　a　month。　And　I　have　monthly　expenses　of　52；000。　What　is　my　wealth？
Let's　go　back　to　Buckminster　Fuller's　definition。　Using　his　definition；　how　many　days　forward　can　I　survive？　And　let's　assume　a　30…day　month。　By　that　definition；　I　have　enough　cash　flow　for　half　a　month。
When　I　have　achieved　2；000　a　month　cash　flow　from　my　assets；　then　I　will　be　wealthy。
So　I　am　not　yet　rich；　but　I　am　wealthy。　　I　now　have　ine　generated　from　assets　each　month　that　fully　cover　my　monthly　expenses。　If　I　want　to　increase　my　expenses；　I　first　must　increase　my　cash　flow　from　assets　to　maintain　this　level　of　wealth。　Take　notice　that　it　is　at　this　point　that　I　no　longer　am　dependent　on　my　wages。　　I　have　focused　on　and　been　successful　in　building　an　asset　column