Comments on: KinderEconomics http://www.teach42.com/2005/08/19/kindereconomics/ Education and Technology by Steve Dembo Sat, 19 Jul 2008 07:08:37 +0000 http://wordpress.org/?v=2.5 By: MarcoPolo http://www.teach42.com/2005/08/19/kindereconomics/#comment-22385 MarcoPolo Wed, 24 Aug 2005 07:25:22 +0000 http://www.teach42.com/2005/08/19/kindereconomics/#comment-22385 Hi. I'm a firstime visitor. I don't teach little kids, nor do I know much about economics, but I'm a big fan of Robert Kiyosaki, who has been saying "the rich don't work for money" (i.e. don't focus on earned income) and "the rich buy assets, the poor and the middle class buy liabilities" ever since <a href="http://www.amazon.com/exec/obidos/ASIN/0446677450/marcshomepag-20/102-/104-2480638-024733" rel="nofollow">Rich Dad, Poor Dad</a> first came out. His board games are great: Cashflow 101 (there's a kids version too), and I especially recommend book #4 in the series <a href="http://www.amazon.com/exec/obidos/ASIN/0446677485/marcshomepag-20/102-/104-2480638-024733" rel="nofollow">Rich Kid, Smart Kid</a> Hi. I’m a firstime visitor. I don’t teach little kids, nor do I know much about economics, but I’m a big fan of Robert Kiyosaki, who has been saying “the rich don’t work for money” (i.e. don’t focus on earned income) and “the rich buy assets, the poor and the middle class buy liabilities” ever since Rich Dad, Poor Dad first came out. His board games are great: Cashflow 101 (there’s a kids version too), and I especially recommend book #4 in the series Rich Kid, Smart Kid

]]> By: Terry Freedman http://www.teach42.com/2005/08/19/kindereconomics/#comment-21747 Terry Freedman Fri, 19 Aug 2005 23:31:35 +0000 http://www.teach42.com/2005/08/19/kindereconomics/#comment-21747 Sorry, I entered the wrong website address! duh Sorry, I entered the wrong website address! duh

]]> By: Terry Freedman http://www.teach42.com/2005/08/19/kindereconomics/#comment-21746 Terry Freedman Fri, 19 Aug 2005 23:29:58 +0000 http://www.teach42.com/2005/08/19/kindereconomics/#comment-21746 Steve, the problems with those $1 a day stories is as follows, as I see it: 1. $1 50 years ago was worth more than it is now. Even without talking about what you could buy, another way of looking at it is in terms of work time, ie how long would it take someone to earn $1? It would have taken a lot longer 50 years ago than now, on average 2. All those stats assume some sort of perfect investment, and no unfoeseen outgoings. I've been saving money for years, and I'm pretty sensible, but things like cars suddenly dying and stuff like that mean you have to make sure your money is liquid, which attracts a lower rate of return, plus you have to withdraw some ever so often 3. Given that you could get run over the next time you cross the street, you might as well enjoy the starbucks now and not worry about the fortune you could have made in 50 years' time!! Steve, the problems with those $1 a day stories is as follows, as I see it:

1. $1 50 years ago was worth more than it is now. Even without talking about what you could buy, another way of looking at it is in terms of work time, ie how long would it take someone to earn $1? It would have taken a lot longer 50 years ago than now, on average

2. All those stats assume some sort of perfect investment, and no unfoeseen outgoings. I’ve been saving money for years, and I’m pretty sensible, but things like cars suddenly dying and stuff like that mean you have to make sure your money is liquid, which attracts a lower rate of return, plus you have to withdraw some ever so often

3. Given that you could get run over the next time you cross the street, you might as well enjoy the starbucks now and not worry about the fortune you could have made in 50 years’ time!!

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