Fake money, real assets and the case for education first: Why smart investors must choose knowledge over capital in 2026 and beyond

By Prof. Samuel LARTEY, www.pefghana.org

In his 2019 book Fake: Fake Money, Fake Teachers, Fake Assets, Robert Kiyosaki makes a statement that unsettles conventional financial wisdom. He argues that the world is no longer operating on real money, but on belief, confidence and policy decisions that can change overnight. For countries like Ghana, where households, professionals and institutions have experienced repeated cycles of inflation, currency depreciation and financial restructuring, this assertion is no longer theoretical. It is a lived reality.

Between 2014 and 2023, the Ghana cedi lost significant value against major currencies, while inflation peaked above forty percent in 2022 and 2023. Savings that appeared safe on paper quietly eroded in purchasing power. Government bonds, once described as risk-free, were restructured under the Domestic Debt Exchange Programme in 2023. For many Ghanaians, these events marked a turning point. Trust in money alone was no longer enough. Understanding systems, assets and financial decision-making became essential.

This is where Kiyosaki’s message intersects with the leadership philosophy of René Carayol, who consistently argues that clarity, values and long-term thinking must come before action. In finance, as in leadership, ignorance is expensive. Education is not optional. It is foundational.

The Illusion of Money and the Reality of Assets

Kiyosaki’s central argument is not that money has no value, but that modern money is fragile. It is created through policy, managed through institutions and constantly diluted by inflation. Money stored without a strategy is exposed to silent loss. Assets, on the other hand, are designed to produce value over time, provided the owner understands how they work.

In Ghana’s context, the difference has become increasingly visible. A professional who saved diligently in a low-interest account between 2020 and 2023 may have felt responsible, yet inflation ensured that the real value of those savings declined year after year. By contrast, individuals who owned rental properties in high-demand urban areas, well-managed small businesses or dividend-paying equities on the Ghana Stock Exchange were better positioned to preserve and sometimes grow value, not because the assets were perfect, but because they were productive.

Kiyosaki repeatedly warns that many people confuse possessions with assets. A personal vehicle that consumes fuel, maintenance and insurance costs may look impressive, yet it removes money from the owner’s pocket. A poorly structured business without financial controls can do the same. Real assets are not defined by appearance or popularity, but by cash flow, sustainability and understanding.

Ghana’s Financial Wake-Up Call

The Domestic Debt Exchange Programme of 2023 was a defining moment in Ghana’s financial history. It revealed a painful truth. Many investors did not fully understand the instruments they held. They trusted labels rather than systems. Bonds were assumed to be safe because they were familiar, not because the underlying fiscal conditions were sound.

This was not the first lesson of its kind. From the collapse of microfinance institutions in the mid 2010s to the more recent rise of digital investment platforms promising guaranteed returns, a pattern has repeated itself. When financial opportunity grows faster than financial education, losses are inevitable.

Kiyosaki would describe these outcomes not as accidents, but as consequences of a fake education around money. René Carayol would describe them as failures of leadership thinking, where short-term gain overrides long-term clarity.

Why Education Is the Most Reliable Asset for 2026 and Beyond

In an environment defined by uncertainty, the most durable investment is not a specific instrument, but the ability to think, assess and adapt. Financial education enables individuals to ask better questions, identify hidden risks and recognise genuine opportunities. Business education allows entrepreneurs to convert effort into systems and profit. Digital and technical education opens access to global markets that are no longer limited by geography.

In Ghana today, many young professionals earn respectable incomes but lack a strategy for converting income into assets. Many entrepreneurs work tirelessly yet struggle with cash flow because basic accounting, pricing and governance principles are missing. These gaps are not failures of intelligence. They are failures of education prioritisation.

René Carayol’s work emphasises that sustainable success begins with self-leadership. When individuals invest in understanding before investing capital, they reduce emotional decision-making and increase resilience. Knowledge compounds quietly, just like assets should.

Choosing Assets with Insight, Not Hype

From real estate to small and medium enterprises, from equities to skill-based ventures, asset ownership in Ghana increasingly rewards those who understand fundamentals. Rental properties perform best when market demand, location and financing costs are properly analysed. Businesses grow when owners understand margins, customer behavior and operational discipline. Stock market investments succeed when investors understand company performance rather than rumours.

The common thread is not money. It is literacy. Capital placed without understanding becomes speculation. Capital guided by education becomes an investment.

Kiyosaki’s warning in Fake is blunt. People often invest in things they do not understand, using money they struggled to earn, in pursuit of social validation rather than financial stability. In contrast, Carayol would argue that leaders, including financial leaders of their own lives, act from purpose rather than pressure.

A Smarter Investment Mindset for Ghana’s Future

As Ghana moves into 2026 and beyond, the order of priorities matters more than the amount of capital available. Education must come first, followed by systems and governance, then assets, and finally money as a tool rather than a goal. This mindset shift is critical in a world where inflation, policy changes and technological disruption are constants rather than exceptions.

The emerging Ghanaian investor is not defined by how much they save, but by how well they understand value creation. They are cautious without being fearful, ambitious without being reckless, and informed rather than influenced.

Conclusion

Education is ultimately not a tool for pessimism. It is a call to responsibility. It challenges learners to stop outsourcing their financial thinking and to recognise that true security does not come from titles, promises or popular instruments. It comes from understanding.

For Ghanaians navigating an increasingly complex financial landscape, the lesson is clear. Money alone is no longer enough. Assets without education are dangerous. Education without action is incomplete. The future belongs to those who invest first in knowledge, then in assets, and finally use money as a servant rather than a master.

In a world where money can be printed, restructured or devalued, education remains the only asset that consistently appreciates. As Robert Kiyosaki warns and René Carayol reinforces, clarity of thought is the foundation of lasting wealth.

 

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