Editor’s note: This article was first published in August 2010. The claims that this business was becoming very profitable in North America and that no such schools existed in Spanish-speaking countries reflect that moment; financial education programmes have multiplied since.
How many of you would have loved to learn how to generate income and cash flow from your first savings? For that matter, how many of us learned to save when we were young and then to multiply those savings? If we could turn back the clock, knowing what many of us know today, our financial situation would surely be completely different.
This business is becoming very profitable in North America, because people there realise that no university teaches you how to achieve financial freedom from a young age. What’s more, people in their forties discover the importance of investing and realise they lack the basics, such as what an investment fund or compound interest is.
Did you know that if you manage to have 15,000 €/$ at 20, with some basic financial education you could have capital of between 100,000 and 300,000 €/$ in less than 10 years?
Did you know that if a 20-year-old doesn’t have 15,000 €/$, it’s because nobody has taught them how to make that amount of money?
Some of you will think this is crazy, but today anyone with a basic knowledge of personal finance knows it’s a very simple process of education. The kind you’ll never get at any university.
This idea comes from none other than Donald Trump, who was the first to create the so-called “Trump University”, a school for the future rich. Anyone who goes through that university has more capital at 23 than any adult. He was followed by Robert Kiyosaki, who began giving courses and talks practically all over the world and invented a financial learning game called Cashflow.
See also: The future of employment and the new idea of self-employment in Spain
Where are these schools in Spanish-speaking countries?
These schools and academies don’t exist, so it’s a business idea that hasn’t been exploited yet.
It used to be said that the best inheritance you can leave a child is teaching them how to work. Today we all know that work on its own will only turn you into a workhorse. The best inheritance you can leave a child is the knowledge of how money works and the thousands of ways to multiply it.
What kind of entrepreneur is this business idea for?
Can you turn €10,000 into €30,000 in twelve months?
If your answer is yes, this business idea is within your reach. If your answer is no, this business idea is obviously not for you.
Who is this financial education school for?
For anyone who wants to get started in business and investing, but above all for teenagers aged 15 to 19. If you acquire a financial education at that age, it’s like already having one of life’s best master’s degrees.
This kind of school should teach concepts such as:
- Compound interest
- Variable interest
- Guaranteed-return investment funds
- Investment savings funds
- The stock market
- Fund units
- Shares and bonds
- Assets
- Liabilities
- And so on
It doesn’t matter how much it costs to join an academy or school like this; what’s clear is that investing in this education is probably the best investment you can make.
Understanding finance used to be reserved for economics graduates, bankers and insurance companies. Today it’s a necessity for every family, at least for those that hope to leave behind a life of work whose only purpose is paying off the debts they’ve taken on.
If you feel up to running a school like this, congratulations. If, on the other hand, what you need is to attend one, it will be hard to find, but you can start with the knowledge we share on this site. I invite you to read the following articles, which I’m sure will open up a new mindset and spark the drive to build your own businesses and the skills to reach financial freedom.
Further reading
