I've enjoyed reading "Why We Want You to Be Rich," by Donald J.Trump and Robert T. Kiyosaki*. It is mind-opening. I come at this book from a perspective as both a member of the Baby Boomer generation and a home-based business owner. Besides finding it enjoyable, I also found it alarming.
The crux of the book appears, in the first few chapters, to be the fear of global economic disaster due to the diminishing of the middle class [globally] and the lack of financial education on the part of just about everyone.
As Mr. Kiyosaki says in Chapter Three, we [a global collective 'we'] need to raise our financial I.Q. He has a list of 10 pressing problems - I've annotated them with my thoughts in brackets:
On page 60, in chapter four, Robert Kiyosaki says, "By living longer, we may expect to extend our working years by retiring later, but what if we live longer and are not able to continue working?" When you think about it, this can be a definite problem.
I know people in their 40's and 50's, even 60's who are starting either new careers or becoming business owners. Retirement isn't something many can afford to do. But, if your health isn't optimized, how will you continue to work, to build your business as you age? If the middle class is shrinking, as Mr.'s Trump and Kiyosaki posit, and we're all stuck in it, we're either going to join the ranks of the rich, or the ranks of the growing poor. If we're too ill to work, to build wealth, then we will join the poor. I think their book asks the question: is that where you want to be?
Donald Trump says on page 68, "Problem solving is made much easier if you think of problems as challenges. You might as well view them that way, since problems are a part of life."
So, the problem of living longer and figuring out how to join the ranks of the rich - or put differently, how not to be poor...should be viewed as a challenge.
This challenge could be viewed in this way:
Optimizing your health so that ill health in old age will not be a specter. .Building a home-based business or finding some other way to build wealth in this context is becoming more and more important. Why?
Mr. Trump says, on pgs. 82-83: "We all have our definitions of financial IQ, but it's a living term [italics mine], therefore it's always changing. To me, it means having the ability to chart the economic waters nationally and internationally, to be able to look beyond the present and into the future, and to make decisions based on those assessments and insights."
Previously in chapter five, Mr. Kiyosaki listed out 7 real problems facing everyone [this is, indeed a global everyone], and Mr. Trump then commented that any one of them "could spell financial ruin for any country."
Mr. Trump concludes chapter 5 with an intriguing assignment: "...here's your assignment first: Give some thought to your roots and why you're doing whatever it is you're doing today. It's a good way to start thinking for yourself....What is important is what you want for yourself and your family. Do you want to be rich?"
*You can find more information about this book at the website: http://www.whywewantyoutoberich.com/
The crux of the book appears, in the first few chapters, to be the fear of global economic disaster due to the diminishing of the middle class [globally] and the lack of financial education on the part of just about everyone.
As Mr. Kiyosaki says in Chapter Three, we [a global collective 'we'] need to raise our financial I.Q. He has a list of 10 pressing problems - I've annotated them with my thoughts in brackets:
- Value of the dollar falling [do we business people need to make more so we can stay currently where we are?]
- National debt increasing [do we really not know that Social Security is not a viable option? - besides which, we need to eliminate the 'entitlement mentality' - that's another issue altogether]
- Baby boomers starting to retire [thought (1) Boomers are not optimizing their physical health so that they will need long term nursing home/Medicare/Medicaid, and thought (2) whoever said we humans were "entitled" to retire? Whatever happened to 'live until you die?']
- Oil prices rising [be part of the solution in any way you can]
- Gap increasing between the rich and everyone else [a person who owns a home-based business need not confine themselves to the notion of a "small" business, there are people in the direct selling industry who have huge businesses they run from home; these home-based business owners can certainly be part of the 'rich' that Mr.'s Trump and Kiyosaki talk about]
- Wages decreasing [or jobs being downsized or being laid off as in the software industry, or a depressed market like the housing construction market and its ripple effect to associated businesses]
- Jobs being exported [this is difficult - do not the people in other countries deserve employment also?]
- Social security and Medicare going bankrupt [who doesn't know this?]
- Savings being wiped out [or, like many Baby Boomers, they never had any to start with]
- Lack of financial education being taught [was it ever?]
On page 60, in chapter four, Robert Kiyosaki says, "By living longer, we may expect to extend our working years by retiring later, but what if we live longer and are not able to continue working?" When you think about it, this can be a definite problem.
I know people in their 40's and 50's, even 60's who are starting either new careers or becoming business owners. Retirement isn't something many can afford to do. But, if your health isn't optimized, how will you continue to work, to build your business as you age? If the middle class is shrinking, as Mr.'s Trump and Kiyosaki posit, and we're all stuck in it, we're either going to join the ranks of the rich, or the ranks of the growing poor. If we're too ill to work, to build wealth, then we will join the poor. I think their book asks the question: is that where you want to be?
Donald Trump says on page 68, "Problem solving is made much easier if you think of problems as challenges. You might as well view them that way, since problems are a part of life."
So, the problem of living longer and figuring out how to join the ranks of the rich - or put differently, how not to be poor...should be viewed as a challenge.
This challenge could be viewed in this way:
Optimizing your health so that ill health in old age will not be a specter. .Building a home-based business or finding some other way to build wealth in this context is becoming more and more important. Why?
- *In this context: if indeed Medicare and Social Security are phantoms [because they will be worthless in the not too far future] the reality will be that many Baby Boomers will have to fund their own health care and long-term care solutions outside of governmental sources
- *So that none of us join the ranks of the poor and find ourselves and our families not able to afford basic survival: gasoline, food and shelter
Mr. Trump says, on pgs. 82-83: "We all have our definitions of financial IQ, but it's a living term [italics mine], therefore it's always changing. To me, it means having the ability to chart the economic waters nationally and internationally, to be able to look beyond the present and into the future, and to make decisions based on those assessments and insights."
Previously in chapter five, Mr. Kiyosaki listed out 7 real problems facing everyone [this is, indeed a global everyone], and Mr. Trump then commented that any one of them "could spell financial ruin for any country."
- A growing trade deficit
- A growing national debt
- A falling dollar
- Baby Boomers without money
- Entitlement mentality
- Higher oil prices
- Tax breaks for the rich
Mr. Trump concludes chapter 5 with an intriguing assignment: "...here's your assignment first: Give some thought to your roots and why you're doing whatever it is you're doing today. It's a good way to start thinking for yourself....What is important is what you want for yourself and your family. Do you want to be rich?"
*You can find more information about this book at the website: http://www.whywewantyoutoberich.com/
Linda C Smith, author and owner of a home-based business. I write a business blog at http://intlnat.com where you can also find links to my business. My joy in business is sharing my passion for my products as well as showing others how they can enjoy the benefits of a home business.
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