Robert Kiyosaki Blog

Financial Education Portal inspired by Robert Kiyosaki

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Jim Cramer: Cash is king

Tonight, on “Mad Money”, Jim Cramer said “cash is king”. I know it’s not the first time he’s made this pronouncement and he was talking about stock portfolios. He says that if you have only 5% cash in your portfolio, you are maxed out. He recommended keeping at 10% cash portfolio with a strategy of taking some gains off of the table (he calls it “schnitzel”), even if that means you raise your cash position to 40%. He talked about making this mistake himself in the past. I think this applies to real estate also. I know I’ve made this mistake before and I’ll bet most real estate investors have too. Read the original: Jim Cramer: Cash is...

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Real estate tools

I’m pretty sure that everyone reading this blog is trying to escape the rat race. We need tools to do that so to help you evaluate real estate, I’ve posted some mortgage calculators at Beko Investments. So now you all have access to this kind of tool and don’t have to go searching for them. I still prefer a good old financial calculator (link to come so you can buy one) but they aren’t always with you. So check these omortgage calculators out. Source:Real estate...

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Self Defense Class with Robert and Kim

Source:Self Defense Class with Robert and...

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Cashflow 101 in Tallinn

Last Friday we had highest amount of people, 40, playing Cashflow 101 at the same time in the same place 🙂Most of them were new players… we had 7 games in use. So I was already worried about the amount of old players who could teach… but finally we had 8 of them – so each table had one + I was everywhere where were problems with translations or understanding of rules.But now to the problem – we have to find a bigger place in the future… will see what we will think out. So far all the games have been free for players as I have found places for free to use… as a proof I have recorded a short video clip: Read the original here: Cashflow 101 in...

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As a Drummer…

I can truly appreciate this short clip. See original here: As a...

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Economics Study Group with Robert – Part II

Here is part two of the study group I participated in last week with Robert. Check out the post for Part I for links to download the printed materials. Read more: Economics Study Group with Robert – Part...

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Economics Study Group with Robert

Robert called an impromptu meeting today to study an article from a newsletter he subscribes to. The newsletter is Richard Russell’s Dow Theory Letters. You can download the section we studied here. Part II of the meeting will be posted soon. Go here to see the original: Economics Study Group with...

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Teachers of “the Secret”

What Happens When 3 Extraordinary Teachers from "the Secret" Come Together to Teach the Science of Getting Rich? by Mark Ginat The Science of Getting Rich is a timeless classic written in 1910 by Wallace D. Wattles. It is a bold title for a book and suggests that getting rich is a predictable outcome if one can master the principles outlined in the book. Here is how Wallace D. Wattles puts it in his own words, "The ownership of money and property comes as a result of doing things in a certain way. Those who do things in this certain way, whether on purpose or accidentally, get rich. Those who do not do things in this certain way, no matter how hard they work or how able they are, remain poor. It is a natural law that like causes always produce like effects. Therefore, any man or woman who learns to do things in this certain way will infallibly get rich." Certainly, this book is well referenced by many of the great teachers today and it is the same book that inspired Rhonda Byrne to produce that runaway success "the Secret". Here is what Rhonda Byrne said on her introductory note to the book, "I can honestly say that, since that first night when a tattered printed manuscript found its way to me (thanks to one of my daughters), my life has never been the same. Once you read it for yourself, you will understand why". Rhonda went on to produce the movie "the Secret" and the best-selling book of the same title which has sold millions of copies worldwide. However, learning how to do things in that "certain way" as described by Wallace D. Wattles may be more challenging for some as the book was written nearly 100 years ago. Some of the language is a little dated and much of its wisdom lost from a modern day perspective. Fortunately, a new training seminar for the Science of Getting Rich has brought the wisdom of this timeless classic back to life for modern readers. Called "the Science of Getting Rich", this program is the most comprehensive training system for mastering Wallace D. Wattles wealth creation philosophies and principles since its creation. It comprises written, audio and live seminar formats for learning, applying and mastering the Science of Getting Rich A unique "twist" to the program is the fact that it has an in-built vehicle for creating substantial financial wealth through its affiliate program. This is truly a unique wealth eduction and wealth building program designed to empower any individual with the resources to get rich. It is a...

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Robert Kiyosaki

Robert Kiyosaki’s business ideas were formed as a result of a number of business failures and one success.  Robert Kiyosaki’s real success came with a series of books based on the rich dad and poor dad characters.  Robert Kiyosaki, co-author of ‘Why We Want You to Be Rich’ gives you advice and tips on how to manage your finances to make your money work for you. Kiyosaki Kiyosaki is best known for his Rich Dad, Poor Dad series of motivational books and other material.  Kiyosaki also proclaims financial leverage to be critically important in becoming rich.  Kiyosaki stresses what he calls "financial education" as a means to obtaining wealth.  Kiyosaki speaks often of what he calls "The Cashflow Quadrant," a conceptual tool that aims to describe how all the money in the world is earned.  Kiyosaki stresses the value of games, particularly Monopoly, as tools for learning basic financial strategies such as "trade four green houses for one red hotel".  Kiyosaki’s claim is given some credence by the founder of mutual fund powerhouse Vanguard, John C. Money Money – Robert Kiyosaki, author of the successful Rich Dad, Poor Dad series of personal finance books, offers his insights to Yahoo Finance in a bi-weekly blog.  [2] Kiyosaki became active in a personal growth seminar, called "Money & You", which was started by Marshall Thurber.  Kiyosaki speaks often of what he calls "The Cashflow Quadrant," a conceptual tool that aims to describe how all the money in the world is earned.  "Cashflow 101" is a board game designed by Kiyosaki, which aims to teach the players concepts of investing and making money, it costs $195. Financial The book Rich Kid Smart Kid was published in 2001, with the intent to help parents teach their children financial concepts.  Kiyosaki stresses what he calls "financial education" as a means to obtaining wealth.  And according to Kiyosaki, in order to obtain financial freedom, one must be either a business owner or an investor, generating passive income.  Rich Kid, Smart Kid is a retelling of Kiyosaki’s views, condensed and clarified to try and help parents better understand and teach their children key financial concepts. Education His Rich Dad Poor Dad series of books have sold millions of copies worldwide and through his education programs he is reaching thousands of students with his financial messages.  CASHFLOW 101 is the only educational tool/game I’ve found that REALLY demonstrates the effect and interconnections that a single decision can and will have on your balance sheet and income statement.  In 1985, Kiyosaki founded an international education company that taught business and investing to tens of thousands of students worldwide. ...

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Finding the Right Business Partner

One of the best pieces of business advice I ever got was "You can’t do a good deal with a bad partner." Having had many partners over the years, I can say that this statement holds true. So I thought I’d offer some personal experiences I’ve had with partners both good and bad. All Play and No Pay The first partner is a former CPA who does spectacular pro forma projections. His numbers on the future viability of a real estate project are always well laid out and convincing. In fact, after first meeting him and his business partner, a Wall Street whiz kid, and looking at some photos of a property they were interested in and an architect’s rendition of what it would look like upon completion, I was sold. I became their money partner. So far I’ve done three deals with this pair, and to date, we haven’t made a dime. The numbers still look neat and tidy every quarter, just the way a CPA should present the financials. The problem is in execution: The projects never finish on time or on budget. Something always goes wrong, and there’s always some kind of drama — problems with environmentalists, city planners, or banks. Finally, after years of squabbling, his partner (the whiz kid) left the relationship. The projects of theirs that I invested in are still operating, but to date I haven’t made any money on them. A Complementary Relationship The second partner is Ken McElroy, a writer and personal friend. My wife, Kim, and I have made the most money with Ken. There are several reasons why: • We share the same investment philosophy. We buy, improve, hold, and refinance. We generally don’t like selling our properties. • His expertise makes up for gaps in mine. Ken owns the largest property management company in the Southwest, and his partner, Ross, is a real estate developer. Both men have nearly 20 years of experience in their respective fields. Because of Ken’s years as a property manager, he has the experience and skill to evaluate the value of an existing property. And Ross has the know-how to bring the reconstruction of properties in on time and often under budget. • We adhere to the same strategy. Ken, Ross, Kim, and I like to put our money in, improve a property, bring in better tenants at increased rents, reappraise the property, and then borrow our money out and move the equity on to the next property. We then repeat the process. A Near-Infinite Return For example, we put approximately $2.5 million into a $9 million, 300-unit apartment house, and secured a construction...

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