A Quote by Robert Kiyosaki
People with low financial literacy standards are often unable to take their ideas and create assets out of them.
Related Quotes
I think people don't understand compound interest because typically no one ever explains it to them and the level of financial literacy in the US is very low.
The Harper Government is committed to ensuring that seniors have the skills they need to make solid financial choices. Seniors today face an increasingly complex financial marketplace, and it will take the combined efforts of public and private sector organizations to help seniors navigate the many financial choices they face. The start of Financial Literacy Month is an excellent opportunity to thank the Canadian Bankers Association and encourage other private sector organizations to take an active role in providing financial literacy support to Canada's seniors.
Regulators around the world have achieved an unprecedented level of collaboration since the financial crisis to create global standards for financial institutions. American regulators have largely viewed these international standards as a floor, and imposed higher standards on U.S. institutions.
Financial literacy is not an end in itself, but a step-by-step process. It begins in childhood and continues throughout a person's life all the way to retirement. Instilling the financial-literacy message in children is especially important, because they will carry it for the rest of their lives. The results of the survey are very encouraging, and we want to do our part to make sure all children develop and strengthen their financial-literacy skills.
People should have an escape valve for their money, their assets. If you have substantial financial assets, the government is going to confiscate the purchasing power of those assets and spend it.
Many of the products which create a modern standard of living are only the physical incorporations of ideas- not only the ideas of an Edison or a Ford but the ideas of innumerable anonymous people who figure out the design of supermarkets, the location of gasoline stations, and the million mundane things on which our material well-being depends. Societies which have more people carrying out physical acts and fewer people supplying ideas do not have higher standards of living. Quite the contrary.
In terms of my profession, I'm passionate about financial literacy. I want to live in a financially literate society. I want kids to understand the importance of savings and investing. I want to try to replicate the great savers who came out of the Depression, the best savers the country has ever seen. It's crucial that people understand the importance of financial literacy, because it's actually life saving.
I've heard from pre-K and kindergarten teachers alike that the Common Core is inappropriately pushing written literacy standards when the focus should be on the development of oral literacy skills. And that's actually delaying the development of literacy.
We don't invest in financial literacy in a meaningful way. We should be teaching elementary school children how to balance a checkbook, how to do basic accounting, why it's important to pay your bills on time. First, education. Begin the learning process as early as possible, in elementary school. Second, encourage and support entrepreneurism. Third, policy. I know it's a priority of the US Treasury to augment financial inclusion and increase financial literacy.
It's not Utopian to believe that we can create a global registry of financial assets so we know who owns what in different countries.
As countries get wealthier - all of them, together - you're going to have financial assets. That is a good thing. You could argue the assets were traded too much, or that they're too highly valued, or too leveraged.
The question I am most often asked is how do I find my ideas? The answer is I don't. Ideas find me. A character in history will suddenly step right out of the past and demand a book. Generally, people don't bother to speak to me unless there's a good chance that I'll take them on.
The financial crisis was linked to the fact that banks had excessive leverage and too many risky assets. The solution is not to try to dictate to banks what they can do or not do, but to require them to strengthen their capital to absorb potential losses and hold less risky assets.
If you get health, then you have opportunity for literacy. Health first, then literacy. Once you have literacy, then you have a chance to bring in the new tools of communication. Let people reach out and have access to the latest advances.
We do all, myself included, we tend to hold ourselves to pretty low standards. But when it comes to judging public figures or politicians or people we've never met, we tend to hold people to very high standards, and, if we held ourselves to those standards, we'd always fall short.
Is it possible that literacy standards are falling because young Australians are growing up in a culture in which they can be entertained and informed, and in which they can communicate effectively, without having to master any but the most rudimentary literacy skills?
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