FAKE: Fake Money, Fake Teachers, Fake Assets [PDF]

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FAKE: Fake Money, Fake Teachers, Fake Assets – Book

Millions of people are investing in fake assets. As I wrote in Rich Dad Poor Dad, the definition of an asset is something that puts money in your pocket. For most people, their “assets” are taking money from their pockets. Every paycheck, money is extracted and sent to Wall Street via retirement savings programs such as 401(k)s, IRAs, or government pensions. Millions “save for retirement” for years, hoping their money will return multiplied.

Millions of people my age, Baby Boomers, will soon find out they do not have enough money to support themselves after they retire. That’s because the money that was taken out of their paychecks went to fake assets, making the rich richer—and leaving them holding the bag.