The traditional dogma or philosophy of education has been putting in your learning years and then going to your working years. But the reality of it is, they are all learning years. Talk to any student on campus and ask, “What are you doing?” And they’ll say they’re trying to finish their education. This way of thinking is wrong. Your education, and in this case your financial education, is never over.
Author Robert Kiyosaki talks about the word education coming from the root word educe which means to draw out, pull it out, or pull out the potential. So why would you want to stop learning? Why would a goal be to stop learning? I wanna finish my education as early as possible? There’s a mindset of, if I can get finished early, I can stop learning early and get to work. It’s easy to forget that work can be rewarding, and learning is illumination.
With technological advances happening at a rapid pace, you are very fortunate if you love learning because if you don’t, you’ll find it a necessity. Moore’s Law is the observation that the number of transistors in a dense integrated circuit doubles approximately every two years. What does that mean for you? By observing and projecting the doubling of the transistors, Moore was able to plan ahead for the future and stay on top of the game. By using these projections, he was able to plan long term for his projects and made many technological advancements. His work is strongly linked to the advancement of digital electronics, and the growth of that industry. Moore’s Law has come to be described as a driving force in technological and social change.
We see that law in effect today. With websites such as Kickstarter, people are able to fund their crazy ideas and inventions. It’s producing a phenomena called obsolescence risk. It’s when the way people do things becomes obsolete very, very quickly, and it seems obsolescence risk seems to be compounding. Blockbuster Video is a great example. The whole idea of going to a video rental store is now completely absurd. Either you go to your movie vending machine or you can now rent or buy movies digitally and have them stream instantly to your devices. You don’t even have to leave your couch!
As the world rapidly advances, look around and say, okay what is interesting to me, what knowledge do I want to seek, and what are my passions about? Use your liberty to choose that as an individual. Don’t let a school board force feed and dictate common core. That is their opinion on what we should be learning. These days, if we want more information, it is literally right at our fingertips. Everything we could possibly want to know about anything is just a few taps away.
Now, to be good at saving or investing or managing your money, you have to gain a financial education. You would be amazed at how much there is to learn about finances. But even what we know about finances gets replaced by new knowledge and new ways of doing things over time. Because of that, your financial education never ends. You have to keep learning and growing your understanding or else you’ll slowly fall behind in the right ways of money management, and you’ll either start losing money or miss out on huge opportunities.
We strongly believe in continuing your financial education. Because of this, we’ve created a free online course on successful retirement planning and investing. Click here to sign up for Infinite 101 for free now!
This blog was created based on our podcast The Wealth Standard. Click here to listen to it now!