AUGMENTEZ_VOTRE_INTELLIGENCE_FINANCIERE_Robert_Kiyosaki_1.pdf

Chapter 1: What is Financial Intelligence?

This chapter emphasizes that money alone doesn't make you rich; it's your financial intelligence. It highlights common financial problems faced by both the poor and the rich, and stresses that problem-solving is the key to increasing financial intelligence.

Expected Outcomes:

• Understand the root causes of financial struggles.
• Recognize the importance of financial intelligence over just having money.
• Be motivated to confront and solve your financial problems.

Core Content:

1. Money isn't evil:

• The educational system's failure to provide financial training leads people to believe that the love of money is the root of all evil. However, it's the lack of money that causes hardship.
• Money itself is just a tool; it's how you use it that matters.

2. Address the lack of financial education:

• Many people lack adequate financial education, making them vulnerable to poor financial decisions.
• Information alone doesn't equal knowledge; financial education is needed to process information into knowledge.

3. Recognize the changing rules of money:

• Since 1971, when the US dollar became a fiat currency, saving money, getting out of debt, and diversification became outdated strategies.
• The new capitalism favors debtors, not savers.

4. Financial intelligence as a problem-solving skill:

• Financial intelligence is the part of your overall intelligence used to resolve financial problems.
• It is the ability to process information and transform it into useful knowledge.
• Problems solved increase financial intelligence.
• The richer you are, the bigger problem you can solve

5. Differences in financial problems vary with wealth levels:

• The poor: focus on day-to-day survival, struggling to meet basic needs.
• The middle class: focus more on profession and academic level, they tend to pass financial problem to experts.
• The wealthy: are not afraid to deal with financial challenges; they look for experts and resolve the problems.

6. Poverty is caused by financial issue:

• Poverty arises from individuals being overwhelmed by problems they can't solve.
• Root causes of poverty require problem-solving for resolution.

7. Turning problems into opportunities:

• The rich see financial problems as opportunities to learn, grow, and become wealthier. They use a structured framework to solve problems.
• The rich embrace financial problems as they know that problems are opportunities to become smarter.

Q&A

Q: What is financial intelligence?

A: Financial intelligence is the ability to solve financial problems. It's the part of our overall intelligence that we use to make sound financial decisions, manage money, and increase wealth.

Q: Why is financial education important?

A: Financial education enables individuals to process information effectively, turning it into valuable knowledge. Without it, people make poor financial decisions, struggle with debt, and lack the knowledge to grow their wealth.

Q: How have the rules of money changed since 1971?

A: In 1971, the US dollar shifted from being backed by gold to becoming a fiat currency. This change made saving money less effective, as inflation erodes the value of cash. Debtors benefit in this system, as they can repay loans with cheaper dollars over time.