Educators failing young investors
American author Robert Kiyosaki has thrown down the gauntlet to educators, including financial advisers, challenging them to find ways in which to educate the young about investment and investment planning.
American author Robert Kiyosaki has thrown down the gauntlet to educators, including financial advisers, challenging them to find ways in which to educate the young about investment and investment planning.
In Australia to promote the third of his Rich Dad, Poor Dad series, “Rich Dad’s Guide to Investing” Kiyosaki says that children need to be taught the basics about investing — and they’re not learning them at school.
“Once you leave school, no-one asks to see your report card. When you go to the bank to borrow $10,000, nobody asks if you got good grades. The bank manager wants to see your financial statement — and people don’t know how to read a financial statement, let alone prepare one.”
Kiyosaki argues that people are only poor because they are not educated about money. “The problem many people have is that they leave home and school and never learn or understand the vocabulary of money, resulting in a lifetime of financial struggle. School doesn’t teach you about money.”
The role of the financial adviser, he says, is to help people to become educated about money, to help them to prepare a plan and to see that they stick to that plan.
“Rich Dad’s Guide to Investing” is published by TechPress, Arizona and is available in Australia through Dymocks and Angus & Robinson book stores.
AUTHOR
Recommended for you
As the government announces a public inquiry into the collapse of Dixon Advisory, risk adviser Richard Silberman has detailed the three areas that typically lead to an AFSL's collapse.
With a growing number of advisers now running their own business, they need to pivot their career identity to being a business owner rather than just as a financial adviser if they want to futureproof their business.
Zenith Investment Partners has launched a range of new managed account portfolios over the past quarter, including on Insignia Financial’s Expand platform.
The financial services technology firm has officially launched its digital advice and education solution for superannuation funds and other industry players.
