富爸爸、穷爸爸(英文版)-第22章

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No。　1　is　accounting。　What　I　call　financial　literacy。　A　vital　skill　if　you　want　to　build　an　empire。　The　more　money　you　are　responsible　for；　the　more　accuracy　is　required；　or　the　house　comes　tumbling　down。　This　is　the　left　brain　side；　or　the　details。　Financial　literacy　is　the　ability　to　read　and　understand　financial　statements。　This　ability　allows　you　to　identify　the　strengths　and　weaknesses　of　any　business。

No。　2　is　investing。　What　I　call　the　science　of　money　making　money。　This　involves　strategies　and　formulas。　This　is　the　right　brain　side；　or　the　creative　side。

No。　3　is　understanding　markets。　The　science　of　supply　and　demand。　There　is　a　need　to　know　the　〃technical〃　aspects　of　the　market；　which　is　emotion　driven；　the　Tickle　Me　Elmo　doll　during　Christmas　1996　is　a　case　of　a　technical　or　emotion…driven　market。　The　other　market　factor　is　the　〃fundamental〃　or　the　economic　sense　of　an　investment。　Does　an　investment　make　sense　or　does　it　not　make　sense　based　on　the　current　market　conditions。
Many　people　think　the　concepts　of　investing　and　understanding　the　market　are　too　complex　for　kids。　They　fail　to　see　that　kids　know　those　subjects　intuitively。　For　those　not　familiar　with　the　Elmo　doll；　it　was　a　Sesame　Street　character　that　was　highly　touted　to　the　kids　just　before　Christmas。　Most　all　kids　wanted　one；　and　put　it　at　the　top　of　their　Christmas　list。　Many　parents　wondered　if　the　company　intentionally　held　the　product　off　the　market；　while　continuing　to　advertise　it　for　Christmas。　A　panic　set　in　due　to　high　demand　and　lack　of　supply。　Having　no　dolls　to　buy　in　the　stores；　scalpers　saw　an　opportunity　to　make　a　small　fortune　from　desperate　parents。　The　unlucky　parents　who　did　not　find　a　doll　were　forced　to　buy　another　toy　for　Christmas。　The　incredible　popularity　of　the　Tickle　Me　Elmo　doll　made　no　sense　to　me；　but　it　serves　as　an　excellent　example　of　supply　and　demand　economics。　The　same　thing　goes　on　in　the　stock；　bond；　real　estate　and　baseball…card　markets。

No。　4　is　the　law。　For　instance；　utilizing　a　corporation　wrapped　around　the　technical　skills　of　accounting；　investing　and　markets　can　aid　explosive　growth。　An　individual　with　the　knowledge　of　the　tax　advantages　and　protection　provided　by　a　corporation　can　get　rich　so　much　faster　than　someone　who　is　an　employee　or　a　small…business　sole　proprietor。　It's　like　the　difference　between　someone　walking　and　someone　flying。　The　difference　is　profound　when　it　comes　to　long…term　wealth。

1。　Tax　advantages：　A　corporation　can　do　so　many　things　that　an　individual　cannot。　Like　pay　for　expenses　before　it　pays　taxes。　That　is　a　whole　area　of　expertise　that　is　so　exciting；　but　not　necessary　to　get　into　unless　you　have　sizable　assets　or　a　business。
Employees　earn　and　get　taxed　and　they　try　to　live　on　what　is　left。　A　corporation　earns；　spends　everything　it　can；　and　is　taxed　on　anything　that　is　left。　It's　one　of　the　biggest　legal　tax　loopholes　that　the　rich　use。　They're　easy　to　set　up　and　are　not　expensive　if　you　own　investments　that　are　producing　good　cash　flow。　For　example；　by　owning　your　own　corporation　…　vacations　are　board　meetings　in　Hawaii。　Car　payments；　insurance；　repairs　are　company　expenses。　Health　club　membership　is　a　company　expense。　Most　restaurant　meals　are　partial　expenses。　And　on　and　on　…　but　do　it　legally　with　pre…tax　dollars。

2。　Protection　from　lawsuits。　We　live　in　a　litigious　society。　Everybody　wants　a　piece　of　your　action。　The　rich　hide　much　of　their　wealth　using　vehicles　such　as　corporations　and　trusts　to　protect　their　assets　from　creditors。　When　someone　sues　a　wealthy　individual　they　are　often　met　with　layers　of　legal　protection；　and　often　find　that　the　wealthy　person　actually　owns　nothing。　They　control　everything；　but　own　nothing。　The　poor　and　middle　class　try　to　own　everything　and　lose　it　to　the　government　or　to　fellow　citizens　who　like　to　sue　the　rich。　They　learned　it　from　the　Robin　Hood　story。　Take　from　the　rich；　give　to　the　poor。
It　is　not　the　purpose　of　this　book　to　go　into　the　specifics　of　owning　a　corporation。　　But　I　will　say　that　if　you　own　any　kind　of　legitimate　assets；　I　would　consider　finding　out　more　about　the　benefits　and　protection　offered　by　a　corporation　as　soon　as　possible。　There　are　many　books
written　on　the　subject　that　will　detail　the　benefits　and　even　walk　you　through　the　steps　necessary　to　set　up　a　corporation。　One　book　in　particular；　Inc。　and　Grow　Rich　provides　a　wonderful　insight　into　the　power　of　personal　corporations。
Financial　IQ　is　actually　the　synergy　of　many　skills　and　talents。　But　I　would　say　it　is　the　combination　of　the　four　technical　skills　listed　above　that　make　up　basic　financial　intelligence。　If　you　aspire　to　great　wealth；　it　is　the　combination　of　these　skills　that　will　greatly　amplify　an　individual's　financial　intelligence。

In　summary

The　Rich　People　With　Corporations The　People　Who　Work　for　Corporations
1。　Earn　 1。　Earn
2。　Spend　 2。　Pay　Taxes
3。　Pay　Taxes　 3。　Spend

As　part　of　your　overall　financial　strategy；　we　strongly　recommend　owning　your　own　corporation　wrapped　around　your　assets。

CHAPTER　SIX　
Lesson　Five：The　Rich　Invent　Money

Last　night；　I　took　a　break　from　writing　and　watched　a　TV　program　on　the　history　of　a　young　man　named　Alexander　Graham　Bell。　Bell　had　just　patented　his　telephone；　and　was　having　growing　pains　because　the　demand　for　his　new　invention　was　so　strong。　Needing　a　bigger　company；　he　then　went　to　the　giant　at　that　time；　Western　Union；　and　asked　them　if　they　would　buy　his　patent　and　his　tiny　company。　He　wanted　100；000　for　the　whole　package。　The　president　of　Western　Union　scoffed　at　him　and　turned　him　down；　saying　the　price　was　ridiculous。　The　rest　is　history。　A　multi…billion…dollar　industry　emerged；　and　AT&T　was　born。
The　evening　news　came　on　right　after　the　story　of　Alexander　Graham　Bell　ended。　On　the　news　was　a　story　of　another　downsizing　at　a　local　company。　The　workers　were　angry　and　complained　that　the　company　ownership　was　unfair。　A　terminated　manager　of　about　45　years　of　age　had　his　wife　and　two　babies　at　the　plant　and　was　begging　the　guards　to　let　him　talk　to　the　owners　to　ask　if　they　would　reconsider　his　termination。　He　had　just　bought　a　house　and　was　afraid　of　losing　it。　The　camera　focused　in　on　his　pleading　for　all　the　world　to　see。　Needless　to　say；　it　held　my　attention。
I　have　been　teaching　professionally　since　1984。　　It　has　been　a　great　experience　and　rewarding。　It　is　also　a　disturbing　profession；　for　I　have
taught　thousands　of　individuals　and　I　see　one　thing　in　common　in　all　of　us；　myself　included。　We　all　have　tremendous　potential；　and　we　all　are　blessed　with　gifts。　Yet；　the　one　thing　that　holds　all　of　us　back　is　some　degree　of　self…doubt。　It　is　not　so　much　the　lack　of　technical　information　that　holds　us　back；　but　more　the　lack　of　self…confidence。　Some　are　more　affected　than　others。
Once　we　leave　school；　most　of　us　know　that　it　is　not　as　much　a　matter　of　college　degrees　or　good　grades　that　count。　In　the　real　world　outside　of　academics；　something　more　than　just　grades　is　required。　I　have　heard　it　called　〃guts；〃　〃chutzpah；〃　〃balls；〃　〃audacity；〃　〃bravado；〃　〃cunning；〃　〃daring；〃　〃tenacity〃　and　〃brilliance。〃　This　factor；　whatever　it　is　labeled；　ultimately　decides　one's　future　much　more　than　school　grades。
Inside　each　of　us　is　one　of　these　brave；　brilliant　and　daring　characters。　There　is　also　the　flip　side　of　that　character：　people　who　could　get　down　on　their　knees　and　beg　if　necessary。　After　a　year　in　Vietnam；　as　a　Marine　Corps　pilot；　I　intimately　got　to　know　both　of　those　characters…inside　of　me。　　One　is　not　better　than　the　other。
Yet；　as　a　teacher；　I　recognized　that　it　was　excessive　fear　and　self…doubt　that　were　the　greatest　detractors　of　personal　genius。　　It　broke　my　heart　to　see　students　know　the　answers；　yet　lack　the　courage　to　act　on　the　answer。　Often　in　the　real　world；　it's　not　the　smart　that　get　ahead　but　the　bold。
In　my　personal　experience；　your　financial　genius　requires　both　technical　knowledge　as　well　as　courage。　If　fear　is　too　strong；　the　genius　is　suppressed。　In　my　classes　I　strongly　urge　students　to　learn　to　take　　　　　　　？risks；　to　be　bold；　to　let　their　genius　convert　that　fear　into　power　and　brilliance。　It　works　for　some　and　just　terrifies　others。　I　have　come　t