PART 1
The author Robert kiyosaki is renewed for his works, rich dad poor dad series. Kiyosaki developed several multi million dollars businesses and retired at the age of 47. He dedicated his retirement to helping people build wealth and live the lives of their dreams. He is a best selling author, and a social entrepreneur.
THE RULES HAVE CHANGED
Kiyosaki explicitly outlined how the global economy is tremendously being transformed from its reliability and inconsistency, riddled with outsourcing, downsizing, foreclosures, subprime mortgages, credit default swaps, ponzi schemes, wall street fiasco, recession among others. He also emphasized the the rising scenario of unemployment in the United states which stood at 10.2 % as at 2009 and how most Jobs and investments that were earlier termed as secured are scrubling before our very eyes.
Also in a survey in the United States, 60% of Americans polled that they see today's economic situation as the biggest crisis in their lifetime. The author outlined how most U.S populations have been on knife edge precipice between solvency and ruin, relying on the next paycheck or two to meet month's expenses with no cushion at all in most cases. He emphatically criticized the system of earning a paycheck as "trading your time for money" and criticized the paycheck as inadequate during recessions and emergencies.
Robert cautioned the United states and many western nation of a financial disaster in waiting, occasioned by our educational system's failure to adequately provide a realistic financial education program for students.
I TOLD YOU SO
The number of people living officially below the poverty line is rapidly rising. The number of people who are working beyond the age of 65 is increasing. Why?
In the 1950s, General Motors was arguably the most powerful corporation in the United states, at that time, the then General Manager, made a famous remark " As GM goes, so goes the nation", and by 2009, GM was into bankruptcy, and by that summer, the state of California was paying its bills with IOUs instead of cash.
Many people who have worked more than 60 years and do not have mortgages, social security and enough to retire with.
What's the implications of these? has it caught your attention ? Am pretty sure it has. Young People everywhere have finally stop wailing for not getting employment. That's great. Now we are awake to what's going on, and it isn't pretty. Let's take a look at what it simply means and what we can do about it.
ITS A NEW CENTURY
The biggest lie of the century is "that the formula for success is: Go to school, study hard, and get good grades so you can get a secure, high paying job with benefits and your job will take care of you". Times are changing, this was applicable during the industrial revolution era. Technology has revolutionized our lives. If I have the means, i do not need to employ a driver when I can get self driven cars, I wouldn't need the meteorologist to tell me how the weather will look like when it's a click away from my phone, I would not need to see my doctor anymore when TRICORDER X can diagnose me better than a panel of certified doctors, IBM WATSON an app, can provide legal advice within seconds with 90% accuracy, far better than a lawyer.
All pecks such as pensions, job security,social security and Medicare that accompany paid employment are now worn out. Job is a joke, we hear stories of mass sack and retrenchment everywhere, our retirement plans have become worthless because they are never reviewed upwards to match present realities. The information age has crippled all these.
Fortunately, young people are now starting to listen and learn. The old safety nets are now shattered, we had 9/11, financial meltdown down of 2008, recession in 2009, covid 19 in 2020, yet these old safety nets could not mitigate the impact of these crises in our lives. Those who ran the information and the connected economy gained, Steve Buzz the owner of Amazon got richer by over 40 billion dollars, the owner of zoom, the virtual app meeting got richer, multi level marketing consultants got richer, mark the CEO of Facebook got richer and our own Aliko Dangote lost billions. What does that reminds you? The corporate world is a myth.
DONT BE FOOLED AGAIN
Even as I review this book, unemployment is still on the rise. By the time you read these words, who knows? The situation may have changed. Don't be fooled. Employment and real estate value may rise, definitely. Do not be lulled into that same old sense of false security that got us and the rest of the world into this mess.
Aspiring young entrepreneurs must not be distracted by the headlines. There is always some idiotic buzz going on that tries to pull your attention away from the serious business of building your business. It's just noise. Whether it's terrorism, recession, or the latest election cycle scandals, its got nothing to do with what you need to be doing today to build your future.
Life is tough. The question is, what are you going to do about it? Moaning, groaning and game blames won't secure your future. Neither will blaming President M. Buhari, the APC and other government officials. If you want a solid future, you need to create it. You can take charge of your future only when you take control of your income source. You need your own business away from other people's business.
Reviewer
Adamu Deco Suleman
Abuja
decosule@gmail.com
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