ging director who specializes in designing lush retirement plans for top management。 When I asked her what people who don't have corner offices will be able to expect in the way of pension ine； she said with a confident smile： 〃The Silver Bullet。'
〃 'What；' I asked； 'is The Silver Bullet？'
〃She shrugged； 'If baby boomers discover they don't have enough money to live on when they're older； they can always blow their brains out。'〃 Karpel goes on to explain the difference between the old Defined Benefit retirement plans and the new 401K plans which are riskier。 It is not a pretty picture for most people working today。 And that is just for retirement。 When medical fees and long…term nursing home care are added to the picture； the picture is frightening。 In his 1995 book； he indicates that nursing…home fees run from 30；000 to 125；000 per year。 He went to a clean no…frills nursing home in his area and found the price to be 88；000 a year in 1995。
Already； many hospitals in countries with socialized medicine need to make tough decisions such as 〃Who will live and who will die？〃 They make those decisions purely on how much money they have and how old the patients are。 If the patient is old； they often will give the medical care to someone younger。 The older poor patient gets put to the back of the line。 So just as the rich can afford better education； the rich will be able to keep themselves alive； while those who have little wealth will die。
So I wonder； are workers looking into the future or just until their next paycheck； never questioning where they are headed？
When I speak to adults who want to earn more money； I always remend the same thing。 I suggest taking a long view of their life。 Instead of simply working for the money and security； which I admit are important； I suggest they take a second job that will teach them a second skill。 Often I remend joining a network marketing pany； also called multilevel marketing； if they want to learn sales skills。 Some of these panies have excellent training programs that help people get over their fear of failure and rejection； which are the main reasons people /j are unsuccessful。 Education is more valuable than money； in the long run。
When I offer this suggestion； I often hear in response； 〃Oh that is too much hassle；〃 or 〃I only want to do what I am interested in。〃
To the statement of 〃It's too much of a hassle；〃 I ask； 〃So you would ； rather work all your life giving 50 percent of what you earn to the government'〃 To the other statement…〃I only do what I am interested in〃…I say； 〃I'm not interested in going to the gym； but I go because I want to feel better and live longer。〃
Unfortunately； there is some truth to the old statement 〃You can't teach an old dog new tricks。〃 Unless a person is used to changing； it's hard to change。
But for those of you who might be on the fence when it es to the idea of working to learn something new； I offer this word of encouragement： Life is much like going to the gym。 The most painful part is deciding to go。 Once you get past that； it's easy。 There have been many days I have dreaded going to the gym； but once I am there and in motion； it is a pleasure。 After the workout is over； I am always glad I talked myself into going。
If you are unwilling to work to learn something new and insist on； instead； being highly specialized within your field； make sure the pany you work for is unionized。 Labor unions are designed to protect specialists。
My educated dad； after falling from grace with the governor； became the head of the teachers union in Hawaii。 He told me that it was the hardest job he ever held。 My rich dad； on the other hand； spent his life doing his best to keep his panies from being unionized。 He was successful。 Although the unions came close； rich dad was always able to fight them off。
Personally； I take no sides because I can see the need for and the benefits of both sides。 If you do as school remends； bee highly specialized； then seek union protection。 For example； had I continued on with my flying career； I would have sought a pany that had a strong pilots union。 Why？ Because my life would be dedicated to learn a skill that was valuable in only one industry。 If I were pushed out of that industry； my life's skills would not be as valuable to another industry。 A displaced senior pilot…with 100；000 hours of heavy airline transport time； earning 150；000 a year…would have a hard time finding an equivalent high…paying job in school teaching。 The skills do not necessarily transfer from industry to industry； because the skills the pilots are paid for in the airline industry are not as important in； say； the school system。
The same is true even for doctors today。 With all the changes in medicine； many medical specialists are needing to conform to medical organizations such as HMO's。 Schoolteachers definitely need to be union members。 Today in America； the teachers union is the largest and the richest labor union of all。 The NEA； National Education Association； has tremendous political clout。 Teachers need the protection of their union because their skills are also of limited value to an industry outside of education。 So the rule of thumb is； 〃Highly specialized； then unionize。〃 It's the smart thing to do。
When I ask the classes I teach； 〃How many of you can cook a better hamburger than McDonald's？〃 almost all the students raise their hands。 I then ask； 〃So if most of you can cook a better hamburger； how e McDonald's makes more money than you？〃
The answer is obvious： McDonald's is excellent at business systems。 The reason so many talented people are poor is because they focus on building a better hamburger and know little to nothing about business systems。
A friend of mine in Hawaii is a great artist。 He makes a sizable amount of money。 One day his mother's attorney called to tell him that she had left him 35；000。 That is what was left of her estate after the attorney and the government took their shares。 Immediately； he saw an opportunity to increase his business by using some of this money to advertise。 Two months later； his first four…color； full…page ad appeared in an expensive magazine that targeted the very rich。 The ad ran for three months。 He received no replies from the ad； and all of his inheritance is now gone。 He now wants to sue the magazine for misrepresentation。
This is a mon case of someone who can build a beautiful hamburger； but knows little about business。 When I asked him what he learned； his only reply was that 〃advertising salespeople are crooks。〃 I then asked him if he would be willing to take a course in sales and a course in direct marketing。 His reply； 〃I don't have the time； and I don't want to waste my money。〃
The world is filled with talented poor people。 All too often； they're ？poor or struggle financially or earn less than they are capable of； not f because of what they know but because of what they do not know。 They focus on perfecting their skills at building a better hamburger rather than the skills of selling and delivering the hamburger。 Maybe McDonald's does not make the best hamburger； but they are the best at f selling and delivering a basic average burger。
Poor dad wanted me to specialize。 That was his view on how to be paid more。 Even after being told by the governor of Hawaii that he could no longer work in state government； my educated dad continued to encourage me to get specialized。 Educated dad then took up the cause of the teachers union； campaigning for further protection and benefits for I these highly skilled and educated professionals。 We argued often； but I know he never agreed that overspecialization is what caused the need for union protection。 He never understood that the more specialized you bee； the more you are trapped and dependent on that specialty。
Rich dad advised that Mike and I 〃groom〃 ourselves。 Many corporations do the same thing。 They find a young bright student out of business school and begin 〃grooming〃 that person to someday take over the pany。 So these bright young employees do not specialize in one department； they are moved from department to department to learn all the aspects of business systems。 The rich often 〃groom〃 their children or the children of o