When I graduated from the U。S。 Merchant Marine Academy in 1969； my educated dad was happy。 Standard Oil of California had hired me for its oil…tanker fleet。 I was a third mate； and the pay was low pared with my classmates； but it was OK for a first real job after college。 My starting pay was about 42；000 a year； including overtime； and I only had ； to work for seven months。 I had five months of vacation。 If I had wanted to； I could have taken the run to Vietnam with a subsidiary shipping pany； and easily doubled my pay instead of taking the five J months' vacation。
I had a great career ahead of me； yet I resigned after six months with the pany and joined the Marine Corps to learn how to fly。 My educated dad was devastated。 Rich dad congratulated me。
In school and in the workplace； the popular opinion is the idea of 〃specialization。〃 That is； in order to make more money or get promoted； you need to 〃specialize。〃 That is why medical doctors immediately begin to seek a specialty such as orthopedics or pediatrics。 The same is true for accountants； architects； lawyers； pilots and others。
My educated dad believed in the same dogma。 That is why he was thrilled when he eventually achieved his doctorate。 He often admitted ？？that schools reward people who study more and more about less and less。
Rich dad encouraged me to do exactly the opposite。 〃You want to ' know a little about a lot〃 was his suggestion。 That is why for years I worked in different areas of his panies。 For awhile； I worked in his accounting department。 Although I would probably never have been an accountant； he wanted me to learn via 〃osmosis。〃 Rich dad knew I would pick up 〃jargon〃 and a sense of what is important and what is not。 I also worked as a bus boy and construction worker； as well as in sales； reservations and marketing。 He was 〃grooming〃 Mike and me。 That is why he insisted we sit in on the meetings with his bankers； lawyers； accountants and brokers。 He wanted us to know a little about every aspect of his empire。
y high…paying job with Standard Oil； my educated dad had a heart…to…heart with me。 He was bewildered。 He could not understand my decision to resign from a career that offered high pay； great benefits； lots of time off； and opportunity for promotion。 When he asked me one evening； 〃Why did you quit？〃 I could not explain it to him； as much as I tried。 My logic did not fit his logic。 The big problem wasthat my logic was my rich dad's logic。
Job security meant everything to my educated dad。 Learning meant everything to my rich dad。
Educated dad thought I went to school to learn to be a ship's officer。 Rich dad knew that I went to school to study international trade。 So as a student； I made cargo runs； navigating large freighters； oil tankers and passenger ships to the Far East and the South Pacific。 Rich dad emphasized that I stay in the Pacific instead of taking ships to Europe because he knew that the 〃emerging nations〃 were in Asia； not Europe。 While most of my classmates； including Mike； were partying at their fraternity houses； I was studying trade； people； business styles and cultures in Japan； Taiwan； Thailand； Singapore； Hong Kong； Vietnam； Korea； Tahiti； Samoa and the Philippines。 I also was partying； but it was not in any frat house。 I grew up rapidly。
Educated dad just could not understand arine Corps。 I told him I wanted to learn to fly； but really I wanted to learn to lead troops。 Rich dad explained to me that the hardest part of running a pany is managing people。 He had spent three years in the Army； my educated dad was draft…exempt。 Rich dad told me of the value of learning to lead men into dangerous situations。 〃Leadership is what you need to learn next；〃 he said。 〃If you're not a good leader； you'll get shot in the back； just like they do in business。〃
Returning from Vietnam in 1973；1 resigned my mission； even though I loved flying。 I found a job with Xerox Corp。 I joined it for one reason； and it was not for the benefits。 I was a shy person； and the thought of selling was the most frightening subject in the world。 Xerox has one of the best sales…training programs in America。
Rich dad was proud of me。 My educated dad was ashamed。 Being an intellectual； he thought that salespeople were below him。 I worked with Xerox for four years until I overcame my fear of knocking on doors and being rejected。 Once I could consistently be in the top five in sales； I again resigned and moved on； leaving behind another great career with an excellent pany。
In 1977；1 formed my first pany。 Rich dad had groomed Mike and me to take over panies。 So I now had to learn to form them and put them together。 My first product； the nylon and velcro wallet； was manufactured in the Far East and shipped to a warehouse in New York； near where I had gone to school。 My formal education was plete； and it was time to test my wings。 If I failed； I went broke。 Rich dad
thought it best to go broke before 30。 〃You still have time to recover〃
was his advice。 On the eve of my 30th birthday； my first shipment left ；；
Korea for New York。
Today； I still do business internationally。 And as my rich dad encouraged me to do； I keep seeking the emerging nations。 Today my investment pany invests in South America； Asia； Norway and Russia。 There is an old cliche that goes； 〃Job is an acronym for 'Just Over Broke。'〃 And unfortunately； I would say that the saying applies to millions of people。 Because school does not think financial intelligence is an intelligence； most workers 〃live within their means。〃 They work and they pay the bills。
There is another horrible management theory that goes； 〃Workers work hard enough to not be fired； and owners pay just enough so that workers won't quit。〃 And if you look at the pay scales of most panies； again I would say there is a degree of truth in that statement。
The result is that most workers never get ahead。 They do what they've been taught to do： 〃Get a secure job。〃 Most workers focus on working for pay and benefits that reward them in the short term； but is often disastrous in the long。 Instead I remend to young people to seek work for what they will learn； more than what they will earn。 Look down the road at what ； skills they want to acquire before choosing a specific profession and before getting trapped in the 〃Rat Race。〃
Once people are trapped in the lifelong process of bill paying； they 1 bee like those little hamsters running around in those little metal wheels。 Their little furry legs are spinning furiously； the wheel is turning furiously； but e tomorrow morning； they'll still be in the same cage： great job。
In the movie Jerry Maguire； starring Tom Cruise； there are many great one liners。 Probably the most memorable is 〃Show me the money。〃 But there is one line I thought most truthful。 It es from the scene where Tom Cruise is leaving the firm。 He has just been fired； and he is asking the entire pany 〃Who wants to e with me？〃 And the whole place is silent and frozen。 Only one woman speaks up and says； 〃I'd like to but I'm due for a promotion in three months。〃
That statement is probably the most truthful statement in the whole movie。 It is the type of statement that people use to keep themselves
busy working away to pay bills。 I know my educated dad looked forward to his pay raise every year； and every year he was disappointed。 So he would go back to school to earn more qualifications so he could get another raise； but again； it would be another disappointment。
The question I often ask people is； 〃Where is this daily activity taking you？〃 Just like the little hamster； I wonder if people look at where their hard work is taking them。 What does the future hold？
Cyril Brickfield； the former executive director of The American Association of Retired People； reports that 〃private pensions are in a state of chaos。 First of all； 50 percent of the workforce today has no pension。 That alone should be of great concern。 And 75 to 80 percent of the other 50 percent have ineffective pensions that pay 55 or 150 or 300 a month。〃
In his book The Retirement Myth； Craig S。 Karpel writes： 〃I visited the headquarters of a major national pension consulting firm and met with a managing director who specializes in designing lush retirement plans for top management。 When I asked her what people who don't have corner offices will be able to expect in the way of pension ine； she said with a confident smile： 〃The Silver Bullet。'
〃 'What；' I asked； 'is The Silver Bullet？'
〃She shrugged； 'If baby boomers discover they don't have enough money to live on when they're older； they can always blow their brains out。'〃 Karpel goes on to explain the difference between the old Defined Benefit retirement plans and the new 401K plans which are riskier。 It is not a pretty picture for most people working today。 And that is just for retirement。 When medical fees and long…term nursing home care are added to the picture； the picture is frightening。 In his 1995 book； he indicates that nursing…home fees run from 30；000 to 125；000 per year。 He went to a clean no…frills nursing home in his area and found the price to be 88；000 a year in 1995。
Already； many hospitals in countries with socialized medicine need to make tough decisions such as 〃Who will liv