I'm afraid we have developed an entitlement
mentality as a nation. And I'm not talking about just poor people. Too many
people, from the president and ministerial body on down, expect a pension from
the government. I really wish we could afford to solve our problems, but to
do that would bankrupt our nation. We could ask the rich to pay for
everyone, but would it solve the problem? And for how long would it even
solve the problem?
I want people to let go of the entitlement mentality and become rich so they can solve problems.... their own problems.
The best way to solve the problem of bad financial results is to change our thoughts;
to start thinking like rich people rather than poor and middle-class people.
That means losing the entitlement mentality.
Whether you are a military officer, government worker, schoolteacher,
employee or just poor. If we do not stop expecting the government to take
care of us, we will continue to have the same results - a bankrupt nation
filled with well-educated but financially needy people.
Albert Einstein defined insanity as "doing the same thing over and over
again and expecting different results." In this case, it is my opinion that it is
insanity to keep sending kids to school and not teaching them about money.
Instead of walking away with a solid financial education, most kids leave
school- some already deeply in debt - prepared only to work hard, save
money, get out of debt, invest for the long term and diversify.
"Diversification is protection against ignorance.
It makes very little sense if you know what you are doing."
Warren Buffet.
This entitlement mentality is a monster problem;
Huge; and I agree.
Bigger even than the national debt, the falling dollar, the oil crisis and
retirement programs. And those are very big and very real problems.
Our financial problems are caused by the way we think. We have to change
the way we think about money.