Owner or Share Holders of the Company Government ( Taxes ) Banks ( Repayment of Loans ) Business revolves around the Asset column. Mind your Own Business Profession & Business : McDonald Story Financial Struggle is often directly the result of People working all their life for some one else. Reinvestment process continues with more and more income from Sources other than the Physical labor. Why Teach Financial Literacy ? 88997777 The way to get Richer is to increase the Cash Flow from the Assets, keep the expenses less than the cash Flow generated from these assets. Rich Class Financial Statement Income Dividends, Interest, Rental Income Assets Stocks, Bonds, Real Estate,IPR Taxes, Mortgage Fixed Expenses Assets Liabilities Home, Consumer Loans, Credit cards Poor /Middle Class Financial Statement Income Expenses Pay Check. Wealth : Persons ability to survive so many days Forward. Liability : It is something that takes Money out of a Pocket. In life it is not important how much money you make, It is how much Money you keep. Why Teach Financial Literacy ? Retirement : We can work or Not Work and our wealth grows automatically staying way ahead of inflation. Example : Down Sizing/ Right Sizing of The Company. But there are different set of rules with which Rich Plays compared to Poor & Middle class. Financial Intelligence is the Mental Process via which we solve our Financial Problems. Education is the foundation of success so are the Financial skills & Communication skills. IS A BAD ADVICE The world has changed & Changing very fast and current educational system has failed to cope up with the change.
Study Hard, Get Good Grades and you will Find a high paying job with Great Benefits (Safe & Secure Jobs) RAT RACE Study Hard, Graduation, Post Graduation, Job, Marriage, Children,Promotions/Jobchange,House, Cars, Good School, Overtime/Part Time Jobs, Vacations…………įast Track Bill Gates,Michale Jordon, Madonna….
My house is a liability and if your house is your largest investment you are in Trouble. I am not interested in Money Our home is our largest investment and our greatest asset.īelieves in total financial self reliance. Learn to manage Risk.ĭepends on company/Government for pay hike, medical insurance, retirement plan etc. The lack of Money is Root of all Evil How can I afford it ? Study Hard so that you can find good company to Buy. Study hard so that you can find a good company to work for Money Play it safe, Don’t take Risk The love of Money is root of all Evil I can’t afford it. What Rich Teach Their Kids About Money That Poor & Middle class Presented by: Pradeep Prabhuchanderkar EMBA05 – Roll No.16 RICH DAD Poor Dad By :Robert Kiyosaki Sharon Lecher C.P.A