Robert Kiyosaki Blog

Financial Education Portal inspired by Robert Kiyosaki


Must Watch – The End of Liberty

‘End of Liberty‘ is now out. This is the most important film you will ever see. Please spread the word about ‘End of Liberty’ to everybody you know on this Halloween day. This movie was made possible by all of the thousands of warning signs that were submitted to us by thousands of NIA members. It is very important for millions of Americans to see this movie. It is the only way we can prevent America from seeing a complete societal collapse! Share and...

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Robert Kiyosaki – 60 Minutes To Getting Rich

Rich Dad’s 60 Minutes to Getting Rich! is an hour long and it’s broken into 6 brief segments that I will outline in the review below. The setting of the “personal seminar” DVD is in a rather small indoor room, with an audience of maybe 50 to 100 people. Robert Kiyosaki starts the program by giving a brief overview of Rich Dad Poor Dad, and what both his dads taught him, as well as their philosophies on money. Here are some of Robert Kiyosaki’s key points taken from Rich Dad’s 60 Minutes to Getting Rich! Part One Money Is an Idea Of course, if you know Robert Kiyosaki he usually talks about his poor dad’s idea that his house is an asset, and that his rich dad contests that that is one reason he is poor. One of the interesting things he says is that his rich dad told him to never say quote, “I can’t afford that.” Instead ask yourself, “How can I afford that?” Kiyosaki says there are three main points that he feels made a real big difference in his life. They were: 1. Money is an idea. The first way to get more money to change what you think. 2. Money Does not make you rich. Case in point, Robert’s poor dad made more money than his rich dad. 3. There are two kinds of money problems – not enough and too much money. And every person, company, and government has money problems. You need to ask yourself which of these two problems do you want? Money comes down to a choice: Every day he has to make a choice: Do I want to be rich or do I want to be poor? Part Two Your House Is Not an Asset He covers the cash flow quadrant (E, S, B, and I) — Employee, Self-employed or Specialist, Big business person and Investor. Employees want security and are mostly controlled by fear. Specialists don’t trust others, and their income is generally maxed out around $500,000 per year, because “time is money.” Big business and investors have essentially unlimited income potential. The way to get rich is via the B (big business) and I (investor) means. Part 3 Earn More… Work Less Kiyosaki talks about the importance of being able to read a financial statement, and the fact that tax laws are written for the rich, by the rich. Don’t work for money. Work for acquiring assets. Part Four Mind Your Own Business His Rich Dad told him that when he is an employee he’s minding somebody else’s business, but you want to be a business owner...

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Robert Kiyosaki on Gold and Silver interview

Robert Kiyosaki – Silver Buillion Investments Are Your Best Protection Against The Inflation. Share and...

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Financial Literacy For All – Assets & Liabilities

In Accountancy an asset is defined as “a resource controlled by the entity as a result of past events and from which future economic benefits are expected to flow to the entity.” A liability also defined as ‘present obligation of the entity arising from past events, the settlement of which is expected to result in an outflow from the entity of resources embodying economic benefits”. These are the classroom definitions and technical for those in the Accountancy field and these definitions are mostly related to assets owned and liabilities owed by corporate entities. Human beings, as we are, we also have personal assets and liabilities and we can define them in our personal ways that would give us better understanding. This would help us take proper personal financial decisions. Now let’s look the definitions given by one renown American Entrepreneur, Writer and Teacher, Robert Kiyosaki. Roberts defines an asset “as anything that puts money into your pocket and a liability as anything that takes away money from your pocket”. Robert’s definitions are great and relate to our daily lives, because as human beings we make, spend or waste money every day and we need to know the differences between assets and liabilities are. When we spend money, we should spend it more greatly on assets and very less on liabilities. Whether it is personal or corporate expenditure, the quest should be to spend more on buying assets rather than wasting the little funds on liabilities that drain us and our organizations financially. Some assets to buy are: Hotels, hostels, hospitals, guest houses, office complexes, schools, colleges, churches, universities that bring money home Pieces of land to sell later for more cash Building houses and rent them out or sell them for more cash Pharmaceutical shops for sale of drugs, shopping malls, sheds, stores, warehouses, that bring money home Taxes, buses, trailers, articulated trucks, aero planes, ships, trains, that bring money home Build companies in any industry that will bring more money home Treasury bills, fixed deposits, call accounts, mutual funds, unit trusts, real estate investment trusts (REIT) these can bring more money home Specific assets that will defer tax payment for your organization Diamond, gold, and other available minerals whose value will appreciate depending on the world market price to bring more money home Farming-cocoa, cotton, coffee, onions, carrots, cabbage, lettuce, spinach, cassava, plantain, banana yam, potatoes, millet, sorghum, beans, maize, wheat, mangoes, guava, oranges, peas and avocadoes, pawpaw, watermelon, palm nut, coconut, shea-butter nut, all edible berries to sell for cash Constructions of dams, boreholes, wells, canals, lakes, swimming pools and others to rent out or even sell...

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Free ebook: Guide to Financial Literacy Resources

Competency in managing money appears to be a skill that doesn’t come naturally to eve ryone. Unless a person is exposed to the practice of money management, he/she is less likely to understand how it works and its long-term benefits. It is easy to develop poor spending and financial habits resulting in significant negative consequences such as a poor credit rating, denial of credit, rejection for a checking account and bankruptcy, to name a few. Early financial literacy is the best way to pre vent such consequences. Financial institutions have a vested interest in supporting or providing financial literacy programs. Rrlative to cost, financial literacy provides both immediate and long-term returns. The most obvious is brand recognition and market share. Financial literacy offers an excellent opportunity to personalize ones institution among consumers who have myriad options in selecting financial service providers. Consumers who understand the merits of responsibly managing their financial resources are more likely to effectively and profitably utilize the services of a traditional financial institution. Financial literacy is a good way to teach consumers about the benefits of having a relationship with a financial institution. Among these are economical access to funds and credit, the ability to establish a positive financial history, consumer protection and perhaps most important, a higher propensity towards savings, which increases net worth. Financial literacy can also break the cycle of poverty, which is often associated with the unbanked. Individuals who have experience handling a bank account and an awareness of other effective money management/asset building techniques are more likely to pass these on to their children. Providing financial literacy training is not a one-size-fits-all effort . Financial literacy is most clearly divided into four categories: early intervention, basic literacy, credit rehabilitation and long-term planning or asset building. Introduction at the earliest stage can often eliminate the need for corrective intervention at later stages. Given the breadth and variety of materials available, it may be useful to first determine your institution’s purpose and objectives for undertaking financial literacy training. This will assist you in specifying the audience you would like to reach and in identifying the most appropriate materials. Download Guide to Financial Literacy Resources PDF format, 526KB, 32Pages. Share and...

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The Rich Dad Difference Videos (#9 – #11)

Video #9 – Life’s 4 Quarters Video #10 – The CashFlow Game Video #11 – The Cone of Learning (Last Video) Share and...

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The Rich Dad Difference Videos (#5 – #8)

Video #5 – Bad Debt vs Good Debt Video #6 – Live Above Your Means Video #7 – 3 Types of Income Video #8 – Investing isn’t Risky Share and...

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The Rich Dad Difference Videos (#1 – #4)

Video #1 – 3 Types of education Video #2 – The Cashflow Quadrant Video #3 – Savers Are Losers Video #4 – Assets and Liabilities Share and...

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Don’t Fear Failure

~ Robert Kiyosaki One of the reasons so many people don’t become entrepreneurs is because they’re afraid of failing. They’re afraid of making mistakes. They’re afraid of losing money. But if people can’t overcome these psychological fears, they’d be better off keeping their day jobs. In the early 1980s, when my first major business failed, I thought I was the stupidest person in the world. Being flat broke and getting calls from creditors made me wish I had never wanted to be an entrepreneur. I even wanted my old job back. But instead of condemning me for failing, my rich dad gave me one of life’s most important lessons: “You’re fortunate to have failed. You now have the opportunity to learn how to turn bad luck into good luck. If you can do that, you’ll have a life of more and more good luck.” Here are three key points for turning bad luck into good luck: Don’t blame. When my rich dad asked me what went wrong, the first thing I did was blame my partners and the economy. He immediately said, “Never blame anyone for your failures.””But it was their fault,” I replied.Shaking his head, my rich dad said, “If you blame someone else, you’ll never learn from your mistake. If you blame, you give your power away.” Remember, there are no victims–only volunteers. And you volunteered to become an entrepreneur. Meet new partners. My rich dad said, “In every bad deal, I have always met good people. Some became new partners.” Still hating two of my partners, it was hard for me to understand this statement, yet I took my rich dad’s advice and began sifting through the wreckage.Today, one of my best friends came from that business fiasco. In the ruins of other business failures, I met my current partner in real estate and another partner in my franchise business. If not for the failures, I wouldn’t have met those fellow entrepreneurs and gone on to make millions of dollars with them. Study your mistakes. “Mistakes are priceless,” my rich dad told me. “Study them, learn and profit from them.”Again, this lesson was hard to hear. Being angry and broke, I wanted to run from my mistakes. But rather than run from my failure, I went back to my factory, studied my mistakes and resurrected the business. This is how I turn bad luck into good luck. Remember, making mistakes and becoming smarter is the job of an entrepreneur; not making mistakes is the job of an employee. Share and...

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Saving’s not enough, invest your money

When we hear the word money, what comes to mind — savings in banks, investment in mutual funds, investment in equity, investment in real estate, investment in antiques? In my opinion, it is a combination of all. Investment gurus call it the ‘diversification of portfolio’. We learn the discipline to manage money effectively outside the classrooms. It reminds me of an old incident. Once, almost 20 years ago, I visited my friend and we were busy talking when her young son entered happily, showing his mom a $100 note gifted by his granny. All he wanted to do with it is buy chocolate. His mother explained to him that chocolates are unhealthy and he should do something else with the note, preferably put it in his piggy bank. Reluctantly, he agreed. A few months later, I happened to visit her again. That day she was busy with her son, helping him open his piggy bank, overloaded with coins and notes. They both counted them and were delighted that the total was beyond their expectations. Again this time as a responsible mother, she advised him to put this fund into a savings account. She taught him to fill up the deposit slip. The boy tried, but could not. So his mom filled the slip and he left for the bank along with an office help. Years rolled by, and his mom is now proud of his saving habits. However, the amount is earning interest only in the bank. “To save must be a habit of childhood, but to invest must be the habit of adulthood.” My friend, as a responsible mother, could reach only her son’s childhood and not beyond. What is the count of your investment portfolios? Are you working for money or is money working for you? “The poor and the middle-class work for money. The rich get the money to work for them”- Robert Kiyosaki, the author of Rich dad poor dad said in the book. It’s generally seen that many people have the habit of switching off their minds when it comes to money matters. People in the other category have a habit of exercising their minds when it comes to money. The difference depends on many criteria. It doesn’t matter if the child doesn’t listen to you, or doesn’t obey you. The child always observes you. Since childhood, we listen to and observe many things in our parents, teachers, friends and others. This plays a vital role in developing our thinking patterns. I will explain two different thinking patterns by picking up some of the effective sentences from Rich dad poor dad. Generally, we veer...

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