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Sex, Religion and Money

 Ah, those three intriguing topics I was taught were never to be discussed in public; or talked about in polite company, for that matter.   That might partially explain why I was initially very squeamish about the idea of reading a highly recommended book.  The very title of the book itself was a “turn-off.” Clearly, this was my problem, since the book is written by two New York Times best-selling authors, is widely acclaimed, and immediately made the NYT’s Best Seller list.  Nonetheless, I do think a lot of people my age were given similar admonitions with respect to talking about money.  It was one of those 1950’s issues - where it was unfortunate if you didn’t have money, and unseemly to talk about it if you did! 

Well, I just finished reading the book, and it is a real eye-opener!  One of the most stunning points made at the outset of this remarkable book startled me, even as it resonated deep within me. The authors held me captive starting on page 4. Because the only other thing I remember being “taught” about money was perfectly and succinctly articulated on page 4, and from that point on I was hooked.  I put the word “taught” in quotes because it was more of a tacit understanding or an expectation, rather than a true lesson. 

Donald Trump and Robert Kiyosaki in their book, Why We Want You To Be Rich, are right on point.  They absolutely “nailed it” with regard to what was conveyed to me as a child of an “upper middle class” family. Yet it was the other two levels of advice they explain that surprised me even more.

They write, “There are three levels of financial advice:  advice for the poor, advice for the middle class and advice for the rich.  The financial advice for the poor is that the government will take care of them.  The poor are counting on Social Security and Medicare.  The financial advice for the middle class is:  get a job, work hard, live below your means, save money, invest for the long term in mutual funds and diversify.  Most people in the middle class are passive investors – investors who work and invest not to lose.  The rich are active investors who work and invest to win.” 

 Bingo, bango, bongo, boom!  Did you know that?  It was news to me.  Given the state of our economy, I suspect that it IS news to lots of folks. Now, it is time to wake up and smell the peril.  There are serious questions about whether or not Social Security and Medicare will "be there" for us.  And we all know what has happened in the Stock Market.  I know many, many people who were very "well-off" financially who tell me today that they are hurting, struggling, having a rough time.  It is heartbreaking. 

“The United States has the highest standard of living in the world (and) we have attained that high standard of living by becoming the greatest debtor nation in the world.”  We as Americans are drowning in debt and “the government” is ALSO in horrendous debt. 

As Trump and Kiyosaki emphasize in their book, we can either be part of the problem or become part of the solution.  They want us to become rich so that we will be part of the solution. I fit their profile perfectly and now, to my utter surprise, I have become “a believer.”  I am commited to beoming financially literate, rather than simply relying on others. I was a "passive" investor and have paid dearly for that.  I now resonate with Kiyosaki's counsel, "I encourage people to learn to develop an investor's mentality rather than a saver's mentality.  You'll sleep better when you're older." I'm for that!  And I know now that there are options and real opportunities out there.  But we need to be actively engaged.

As one excited about “life-long learning” I am grateful that I am finally delving into all of this and really beginning my “financial education” in earnest.  I would encourage you to read,  Why We Want You To Be Rich.  We are at a point in our history where  we literally can not afford to be unaware or passive.  I know I can't.    

Linda Compton www.WealthWithHeart.net