Teaching my 9 year old kid about money – Why A students work for C students

book-covers-a-studentFamous Robert T Kiyosaki who’s first bestseller was “Rich dad, poor dad” has written another book in sequence called “Why “A” Students Work for “C” Students and “B” Students Work for the Government”. This book feels like a vol 2 of “Rich dad, poor dad”

I got so much inspiration from that book that I made my 9 year old son to manage part of my investment portfolio to make money for himself. Estonian startup Bondora allows to invest money into relatively risky but high yield distributed loans. Most of the interest rates are between 20% and 35%. I started investing there around 1,5 years ago and now I gave my son the passwords and he is in charge of choosing best loan applications to invest in. We have been reviewing the portfolio 1-2 times a week. I feel that this will give him huge benefit in the future.

Main point of this book is that school system is not preparing our kids for the future enough and kids need to learn more about money, investing, passive income and not working for a salary. It is parents responsibility to fill in the gaps and prepare the kids to the future. It is especially important because governments are taking in loans and building expensive pension schemas which are severely underfunded. Our kids are the ones who will face the consequences and all the previous glorious civilizations ended up in ruin, why should we be any different?

Although the book is very right at many points then It repeats itself a lot and has too much advertising for the CashFlow game. I read it very eagerly at first but I read only two thirds of this book.

Read more from http://www.richdad.com/books/why-a-students-work-for-c-students.aspx

 

 


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