Why doesn't the banker want to see certificates?
For the first time in history, those who do well at school face the same economic challenges as those who don't. We all have to listen carefully when our banker asks us about our financial statements instead of our certificates, because that is what he wants to tell us.
My two fathers were great teachers and smart men. But they weren't in the same fields and they didn't teach the same things. But as different as they were, both believed that all children are born clever and rich. Both were convinced that children learn to be poor and believe that they are less clever than other children. Both fathers were great teachers because they believed in the development of the talent that is in every child.
Develop talent instead of feeding it with knowledge
In other words, they did not find it beneficial to feed children with knowledge. They thought it was important to develop the child's talent. The English word for "education" comes from the Latin educare, which means "get out". When we think of school and training, unfortunately, many people only remember long, painful hours in which we stuffed small bits of information into our heads, memorized them for the test and then forgot them again.
My two fathers were great teachers because they rarely tried to impose their ideas on me. They often said very little and instead waited for my question when I wanted to know something. Or they asked me questions to find out what I knew instead of just telling me what they knew. My two fathers were great teachers and for me two of the greatest blessings in my life. And not to forget: the mothers. My mother was also a great teacher and role model. She was my teacher of unconditional love and kindness, she taught me what caring for other people means. Unfortunately, she died at the young age of 48. She was ill for most of her life and suffered from a weak heart caused by rheumatic fever in childhood.
Education and humanity
Her ability to be kind and loving to others despite her own physical pain taught me an important lesson in my life. When I am offended and want to attack others, I often think of my mother and being friendlier instead of getting angry. For me, that's an important lesson that I want to be reminded of every day. I once heard that men marry women who are similar to their own mother, and that is certainly true of me.
My wife Kim is an extremely kind and loving person. I am sorry that Kim and my mother never met. I am convinced that they were the best friends as Kim and her mother are. I always wanted to have a woman who was also a business partner to me, because the happiest phase of my parents' marriage was the time when they worked together in the Peace Corps. I remember the day President Kennedy announced the establishment of this organization.
Arouse financial interest
Both my mother and father loved the idea and couldn't wait to be part of it. When my father was offered the position of Head of Training for Southeast Asia, he accepted it and asked to appoint my mother as a company nurse. I think that was the happiest two years in their marriage. I didn't know my best friend Mike's mother very well. I always met her when I was there for dinner, which was common. But I cannot say that I really knew her. She spent a lot of time with her other children, while Mike and I were mostly at work with his father.
But when I was at their home, Mike's mother was very friendly and interested in what we were doing. I could see that she was a great life partner for Mike's father. They were both loving and kind to each other and interested in everything that was busy with each other. Although Mike's mother was a very reserved person, she was always interested in what Mike and I learned at school and at work. Although I didn't know her very well, I learned from her how important it is to listen to others, to let others talk and to respect others' ideas, even if they conflict with your own ideas. She was a very communicative person in a very calm way.
I am very concerned that we have such a high number of single mothers and fathers today. Having a mother and father as teachers was important for my development. For example, I was taller and stronger than most other children, and my mother was always afraid that I would take advantage of my size and become a bully. That is why she made a point of developing what I would call my "feminine side" these days. As I said, she was a very friendly, loving person and she wanted me to be friendly and loving too. And I was too.
The rules have changed
In the industrial age, the usual way was like this: going to school, getting good grades, finding a secure job with many advantages, and staying there for his entire working life. You retired after about 40 years, and that Company and the state took care of you for the rest of life. That has changed in the information age. The usual way now looks like this: going to school, getting good grades, finding a job and then continuously training for this profession.
Then you find a new company and a new job and continue your education. At the end of your working life, you have to hope and pray that you will have enough money when you are significantly older than 65. Because most likely you will be much older than 65 years. In the industrial age, Albert Einstein's formula E = mc2 was the determining theory. In the information age, the defining theory of the era is Moore's Law. The current world view is based on this law that the amount of information doubles every 18 months. In other words, to keep up with change, you have to learn everything practically every 18 months.
Learn again every 18 months
In the industrial age, change was slower. What was learned at school was useful for a long period of time. In the information age, existing knowledge quickly becomes obsolete. What you have learned is important, but not as important as the speed with which you can adapt to new circumstances, store new information and learn new processes. My two parents grew up during the Great Depression. Job security was their top priority, which is why their voices always seemed a little panicky when they said to me: "You have to go to school and get a good degree so that you can get a job later." Today the challenge is not to be left behind if the qualifications for the current job are no longer up to date. Here are some more subtle but significant changes between the industrial and information ages:
- In the industrial age, the employer was responsible for old-age provision.
- In the information age, as an employee you are responsible for your own pension. If you run out of money after the age of 65, you have a problem yourself, not the company.
- In the industrial age, the older you got, the more valuable you became.
- In the information age, the older you get, the less valuable you get.
- In the industrial age, people were employed for life.
- In the information age, more and more people are self-employed.
- In the industrial age, clever children became doctors and lawyers. They were the big earners.
- In the information age, the high earners are athletes, actors and musicians. Many of the doctors and other experts earn less than in the industrial age.
- In the industrial age, you could rely on the state to bail you out if you and your family ran into financial difficulties.
- In the information age, we hear more and more politicians promise to save social security and other government support programs. You and I are smart enough to know that if politicians make promises to save something, the chances are very high that what they want to save is already lost.
Learning has a lot to do with your own attitude
My rich father was a financial genius and also a great teacher. With my rich father's upbringing, I was absolutely certain that I would achieve great wealth, regardless of whether I was good at school or got a high-paying job. When I was twelve, I knew that wealth had little to do with what I learned at school. Knowing that I was going to get rich no matter how I did at school was a bit of a problem for me there. Both fathers worked to get the problem of my attitude towards school learning under control and made sure that I also finished my college education afterwards.
Finally, my rich father explains to me why his banker never asked him for his certificate: »My banker never wanted to know from me whether I had good grades. All he wants to see is my financial statements or financial reports. The problem is that most people leave school without knowing what an asset statement is. "My rich father also says:" Understanding how asset statements work is essential for anyone building a life of financial security want."
2 areas of education
If you look at the current education system, it becomes clear that the system focuses on two main areas of education:
This is training to become a doctor, lawyer, plumber, mechanic or whatever you want to do to make money after school. The United States and many western nations have done a good job of making these two basic types of education accessible to their citizens. The problem is that the rules have changed. In the information age, we need new education, not even more of the outdated type. Every student now needs some of the basic training my rich father taught me:
This is the education needed to build lifelong prosperity and financial security with the money you earn from your job. The education that helps your child not to run into financial difficulties later in life and not to be left to fend for himself after he has supported a family and worked hard for a lifetime.
Why doesn't the banker want to see a certificate?
The reason your banker is not interested in your credential is because they want to see how smart you are after you finish school or college. He wants to see evidence of your financial intelligence, not your academic or academic intelligence. Your balance sheet is a much better measure of your financial intelligence than your certificate. Part II contains some simple, concrete examples of things parents can do to give their child a financial advantage in the real world of work and with money. Part III is devoted to some of the latest technological breakthroughs in education that will improve parents' ability to discover their child's natural learning ability and talent. With this you can give your child a school and later academic advantage. It is said that one of Albert Einstein's teachers mocked his pupil: "He will never become anything." Many of his teachers thought he was stupid because he couldn't learn anything by heart. A year later, Einstein heard that a well-known inventor had said that factual knowledge was vital. Einstein disagreed: »A person does not have to go to university to learn facts. He can learn them from books.
The value of higher education in the humanities lies in the fact that it stimulates the mind to think. "Einstein also said:" Imagination is more important than knowledge. "When asked once by a journalist about the speed of sound, Einstein replied:" I know Not. I don't keep any information in my head that is always available in books. «Almost every father and mother I've met are sure that his or her child is clever or even a genius. However, when the child comes to school, their natural talent is often suppressed or plays a subordinate role. The child's natural talent and individual learning style are suppressed by the educational system. My clever father, like many other teachers, realized that the school system does not do justice to the different talents with which children are born. It is unfortunate that our current education system is stuck in controversy and old beliefs. The politics and bureaucracy surrounding the educational profession prevent many new and innovative methods that promote a child's talent from becoming part of the system. My clever father was a teacher and worked in the Hawaiian education system. He did his best to change the system, but instead it destroyed him.
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German edition: ISBN 9783965961005
English version: ISBN 9783965961012 (Translation notice)
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