Have you ever thought about how to induce your child the mindset of a successful man? Or explain the difference of thinking between the rich and the poor?
If you ever decide to do this, you will have to fight with your child’s lack of experience - he has never been poor and does not know what that actually means. And this could be a big challenge!.
This raises two problems. First, your child will not understand the difference between the time when you work for money and when the money works for you. And the second, it will be impossible to explain this theoretically, you will need to create a practical experience.
And we have also tried dozens of ways to solve this problem and the most effective is suggested by Robert Kiyosaki. This will be a tough one, but make no mistake: as a learning experience, there is no comparison.
Find something that will look as close as possible to a real job. Make your kids work during weekends from nine to five performing boring tasks such as cleaning all the windows in your house, cleaning the oven or give them the most repetitive job within your business. Pay them a minimum wage or less once a month.
At some point your kids will be tired of being exploited for labor and will demand a raise. If this doesn't happen, find a way to hinder the task, make it more annoying, more difficult until they do it.
When they come to you sick and tired of their job, you’ll have a life changing discussion with them from which they learn the moral of this lesson. The lesson to get out of the boring 9 to 5 job and instead of spending their whole life working to put a little money in their pocket and a bunch of money in someone else’s pocket, your kids need to have other people work hard to put money in their pockets.
Explain how the poor and the middle class work for money, but the rich have the money work for them. Average people choose to get paid based on an hourly rate, they work for money. While rich people generally own their own businesses and money works for them.
Summarize the lesson for your kids: if they hated the 9 to 5 experience and they want a happy life, they need to look for other money making opportunities right now so they won’t need to get back to a job like this ever again. Make sure they start looking for that.
Just think of a task for your child right now. And make up your mind that you are going to teach him this lesson right from this week.
Only through such a tough experience, your child will have an entrepreneurial mindset and will avoid what usually happens in 70% of wealthy American families - wealth is totally lost in the second generation because the self made millionaire parents did not pass their skills to their already wealthy born children.