What Schools Will Never Teach You About Money By Robert T. Kiyosaki

Financial “Experts”
Unfortunately, due to a lack of financial education in schools, most 
people blindly turn their money over to people they believe are financial 
experts: people such as bankers, financial planners, and stockbrokers. 
Unfortunately, most of these “experts” are not really investors in the I 
quadrant. Most are employees in the E quadrant working for a paycheck, 
or they are self-employed financial advisors in the S quadrant working 
for fees and commissions. Most “experts” cannot afford to stop working, 
simply because they don’t have investments working for them.
Warren Buffett said, “Wall Street is the only place where people ride 
to work in a Rolls Royce to get advice from those who take the subway.” 
If people do not have sound financial education, they cannot tell
if a financial advisor is a salesman or a con man, a fool or a genius.
Remember, all con men are nice people. If they were not being nice
by telling you what you want to hear, you would not listen to them
There is nothing wrong with being a sales person. We all have
something to sell. Yet, as Warren Buffet says, “Never ask an insurance 
salesman if you need insurance.” When it comes to money, there are 
many people desperate enough to tell and sell you anything, just to get 
your money.
Interestingly, the vast majority of investors never meet the person 
taking their money. In most of the Western world, employees simply 
have their money automatically deducted from their paycheck, in the 
same way the tax department collects taxes. Many workers in America 
simply allow their employer to deduct their money and put it into
their 401(k) retirement plan, possibly the worst way to invest for
retirement. (401(k) plans go by different names in different countries. 
In Australia they are called superannuation plans, in Japan they are
also called 401(k)s, and in Canada they are known as RRSPs.)
I say the 401(k) may possibly be the worst way to invest for
retirement for the following reasons: