Posted by steph in tex on December 01, 1999 at 21:34:58:
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Thought I would share this with you all - Posted by Jim_MA
Posted by Jim_MA on December 01, 1999 at 17:28:13:
Just thought I?d share this with you all. Its about Robert Kyosaki and what I have been doing since last years convention with the inspiration and insight that the book Rich Dad Poor Dad along with hearing Robert speak, brought into my life. For several years I wondered why my own children and the 6000 or so other college age young people with whom I interact with daily all seem to share a commonality in the belief that the world owes them something simply because they exist. I have lovingly termed them the give me ?you owe me generation. What ever happened to working for what you want out of life? After being inspired by both the book and hearing Robert speak at last years convention and rereading the book several times I got an idea of how to answer my son?s questions that he was asking at the time: why does my working life go the way it does? Why don?t they GIVE me what I?m due?
I realized that Robert?s book contained the answers and if I could get him to read it thoroughly enough he might figure it out himself. My son also was asking to be brought into the business( that he was owed a job). Feeling that his head was in the wrong place, I made a deal with him that if he read the book and was able to figure out what was wrong with his life, that I would give him a test on what he learned from reading the book. If he was able to answer the question I would bring him into the business fulltime in exchange for which he would be provided with housing with utilities and $100/Week stipend.
Several weeks went by and he did not read the book. Both my partner( my Father) and I pestered him constantly about the book. I suggested that when he got around to it, that it would probably help to highlite the things in each story that did not seem to fit as narrative items ie; sentences that jumped out that might explain his feelings. I also suggested that he should keep a notebook and write down anything that caused him to have questions. Finally mid May 1999 he came over to the house and said he was ready to take the test and that he had several questions about what he had read. We went off for a drive and I told him to bring the book and his notes. After several miles I said ok mike here?s the question show me at least a few direct quotes in the book that describe what?s wrong with your working life. He open his copy and sure enough he had highlited, in more than one color, several passages thoughout the book. I then asked him if these concepts identify what you feel about your working life, then are you ready to begin to be reprogrammed for a better way of life. He told me yes and 2 weeks later he was working with us fulltime and without a paycheck.
If Robert was right it wouldn?t be long before he became frustrated with this arrangement?took about three months before he almost quit and went back to being an employee. I offered to just make him an employee and pay him more money but he must have remembered the book because as I offered him more he became much more reluctant to take it. I decided the following day that it was time to begin to teach him about deal making and to show him that he wasn?t really working for nothing. I pulled together the deal analysis sheets for this years deals that he been slaving over for the past six months and sat him down to explain each deal. I handed him a calculator and told him to add up the cash out potentials on each deal so that he could see the potential result of his efforts. The priceless look on his face and the gleam in his eyes was a sure sign that he finally was hooked. That he had realized that there were rewards for his efforts to come at the completion of the projects and that his share would be far in excess of that weekly paycheck from an ungrateful employer. I also reminded him that his housing and utilities didn?t come cheap and that that I would increase his stipend by 35% starting the next week. When the last time my boss gave me a 35% raise I thought to myself.
The past 6 weeks have been great. He has left the give me ?you owe me mentality and he has been extremely motivated to complete the projects at hand and get on to the next ones. The best thing so far has been that when I asked him to come to Atlanta this February he was kind of reluctant until I told him that he would get to meet Robert now he can?t wait. Yesterday he inquired as to whether it might be possible for us to partner with him on a 3 or 4 family multi that he could take on by himself. Thank you Robert and thanks to all of you that make this site the best there is. See you all in Atlanta.
Re: Great posts everybody! (nt) - Posted by SusanL.–FL
Posted by SusanL.–FL on December 02, 1999 at 14:19:43:
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Smashing!(and some pondering) - Posted by karp
Posted by karp on December 01, 1999 at 20:01:54:
So the next question becomes this…
How do we who “get it”, “give it” to our kids who are 4 and under?
WHat I am doing with my son is teaching him that he gets to save money for luxury items. Yes, we have jars on the counter and one says “SUPER SOAKER” on it.
He told Santa the other day in the mall that he didn’t want a SUPER SOAKER because he was going to buy it (by himself).
So who knows, maybe there is hope…lol
The thing that gets to me about the whole RICH DAD POOR DAD argument is that you MUST also take the argument to the next level which is “It is not about money it is about TIME”.
Time- of course being the most valuable asset we have.
I feel like a hypocrite since I have 3 undergrad and one graduate degree when I don’t even think about saving for my son’s or daughter’s college.
When 94% of graduates do not work in their field of study, there is something very wrong… and to “waste” four years at school to work as a bank teller? I dunno- something’s gotta give.
Nothing would make me happier than to see my kids grow up as rulers of their own lives. Whether that means never working for someone else- I can only hope.
Thanks,
Karl Hartley
Re: Great posts Susan (nt) - Posted by LarryLange
Posted by LarryLange on December 02, 1999 at 15:53:54:
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Excellents Posts you guys! - Karp–that’s an awesome story (nt) - Posted by steph in tex
Posted by steph in tex on December 01, 1999 at 21:22:14:
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