Robert Kiyosaki Blog

Financial Education Portal inspired by Robert Kiyosaki

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Investment In Property Can Help You Retire

A lot of Americans arent going to have enough money to retire on. That is just a un happy reality of these times. Instead of bemoaning that reality (and the unfairness of it all) the best thing someone who hopes to have a healthy retirement can do is simply make sure they arent the typical American. We must take actions to assure they will have enough income to enjoy their life and pay their bills, as well as those increasing medical bills. The best way to avoid becoming one of these Americans who end up working at some remedial job through their so-called Golden Years, according to Robert Kiyosoki, author of the Rich Dad Poor Dad book series, is to buy investment property. Investing in real estate is a wonderful way for people to prepare for retirement because it supplies a great benefit called passive income. After someone has laid the ground work, passive income keeps coming in without a lot of effort. A laborer gets compensated only for the hours he puts in. A real estate investor, after setting up his system, gets paid for keeping it running. And keeping it running, if he been wise about it, will involve paying his team to do the job of inspecting them every now and then. A great thing about passive income (such as from investments) is, the more time the real estate investor holds them, the more ROI they should make for her, with less and less work on the investors part. Its the closest thing to the Holy Grail of the world of money. It sounds attractive, but we shouldnt just take the plunge. And even though it is completely learnable, theres quite a bit to learn when one is thinking about buying investment property things like comprehending P&L statements and real estate law. The biggest concept to learn, however, is ones own limitations. The individual who understands where to find the knowledge he wants is far better off than the individual who remembers tons of facts and formulas around in her memory. In the book Cash Flow Quadrant, Robert Kiyosaki advises potential investors to increase their cashflow in addition to their knowledge. He writes of developing a business system that can be set up and left alone, freeing the investor to move to the next step instead of investing all her time working in her business. The next step involves continuing the real estate education and start to look around for specialists to employ and investment properties to buy. Robert Kiyosaki also talks about this change as transitioning from one part of the cash-flow-quadrant to the...

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Rich Woman Kim’s First Investment

Kim describes her thoughts, decisions and fears of her first investment purchase. Listen in as she talks about the time it took to find the property and her fears of making a bad investment.   Share and...

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Thirtysomething and Strapped: What to Do?

A new survey of young workers published by the AFL-CIO suggests many Americans under 35 can’t manage the basic financial building blocks of an adult life. The union calls the last ten years a “lost decade” for these young people during which many fell short on critical responsibilities like getting their own place, finding a stable job with benefits and saving money for emergencies. About 31% of survey respondents said they made enough money to pay their bills and set some money aside, and seven out of 10 respondents said they did not have enough money saved to cover two months’ worth of living expenses. Parents of these young workers know how far they are from making it on their own; one in three is living at home. “Along almost every metric, people under 35 are doing much worse than they were 10 years ago,” says Jennifer Jannon, 29, a regional director for Working America, the ALF-CIO’s community organization for non-union workers. “People are literally putting off starting their adult lives because of the conditions they’re facing economically,” Jannon says. She says the results should not be interpreted as laziness. “Young people are really yearning to move out on their own [and] to start their adult lives,” she says. “[But], they can’t find the type of work that supports an adult life.” Some take issue with the suggestion that the current job market is more difficult for young workers than for their counterparts over 35. “It’s easier for younger people because they have less experience, and they don’t cost as much,” says Robin Ryan, a career counselor and the author of “60 Seconds And You’re Hired.” “If you’re over 40, a lot of employers see you as expensive,” Ryan says. Employers may also assume younger workers are more tech-savvy and can more quickly adapt to a changing workplace, she says. Regardless of who’s to blame, the result for young workers will be a substantial loss of potential wealth over their lifetimes. A person who’s able to save $2,000 a year between ages 22 and 30 will retire with more money than a person who saves the same amount over a longer period from ages 30 to 60, says Thomas Holland, a partner at the wealth advisory firm Global Vision Advisors. It’s crucial that those seven out of 10 young workers who don’t have enough savings to last two months start saving right away. “Though the economy may be poor, what I find is that if you don’t establish savings habits early in your career, it’s not likely that at some golden age you’ll learn to save,” Holland says. Here...

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Four Ways to Weather an Economic Storm

~ Andrew Beattie Economic conditions can be as temperamental as the weather. In this article we’ll look at some simple steps that can help keep the financial boat afloat during an economic tempest. Batten Down the Hatches Warren Buffet derides management that embarks on cost cutting, as good management shouldn’t need to be prompted to control costs – that should be second nature. People are less strict with their personal finances than Buffet is on management, but a downturn quickly provides the motivation needed for cost consciousness. There is always room for cutting frivolous expenses, or at least substituting them with cheaper alternatives. This applies to everything from the morning coffee to landscaping the backyard. Set in Stores Even if you have creditors banging on your door and ringing you at work, your first priority should be building or augmenting your emergency fund. When money is consistently flowing out of your bank account leaving a near-zero balance, there is no cushion for unexpected and unavoidable expenses – like a root canal or a new radiator. This forces people to take on yet more debt to make ends meet, and the outflow of cash worsens until it seems like they are working just to satisfy their creditors. The better alternative is to make minimum payments on your debt while building a cushion of at least one month’s wages, but preferably 3-6 months. The larger the emergency fund, the more secure you’ll be mentally and financially. With three or more months in reserve, it takes a pretty big emergency to shake things up. Building the fund should take precedence over investment as well as debt payments. Any automatic investment plan should be put temporarily on hold and that money funneled towards the emergency fund to help speed up the building. It may feel like you’re dodging creditors and robbing from your golden years, but with a proper emergency fund, you’ll be in a better situation to consistently make payments on your debts and regularly invest no matter what happens in the future. Patch the Hull When the general market is choppy, there is almost daily coverage of where the hot money is going. Investors rush out of cash and into bonds; out of bonds and into stocks; out of stocks and back into cash and bonds, and on and on. Rather than getting caught up in the stutter-step of fast money, most people would benefit far more from paying down existing debt than finding safe havens to park idle funds. If you are holding debt during a downturn, paying it back is one of the few places where you can put...

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The Rich Dad Real Estate Summit 2009

The Rich Dad Real Estate Summit 2009   How to find and analyze great investment opportunities in this economic climate. Great investments are made when you buy…not sell. This is the time to be buying. To achieve success in real estate you have to know how to find great investments, analyze, finance, and manage property. That kind of knowledge isn’t inherent – it has to be learned. Develop your inner real estate genius at the Rich Dad Annual Real Estate Summit. Regardless of whether you are an expert or just beginning in real estate, this event is for you. This event is exclusively designed for investors looking for long-term, positive cash flow.   [carousel keywords="rich dad cashflow"] Share and...

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Can you read yourself rich?

~ Mark Bridge ~ The economic crisis has prompted many people to seek help from personal finance books, with Amazon reporting a significant uplift in sales. Classics of the genre promise a quick route to riches, while recent examples, written since the start of the downturn, tend to be more cautious and realistic in their claims. Times Money has looked at the five bestselling financial self-help books at Waterstone’s and asked financial planners for their views on the key ideas, rating the books from one to five stars. All have a snappy style and are accessible to the novice, but some are considerably more helpful than others. Note that the recommended retail prices shown can be beaten easily. All the books are selling at a discount at Amazon, and the fifth, by Richard Templar, is half price at Waterstone’s. Rich Dad, Poor Dad by Robert T. Kiyosaki Sphere, £8.99 This 1997 book, the centrepiece of the author’s self-help empire, tells the perhaps allegorical story of two fathers: Kiyosaki’s own and his best friend’s. The former, poor dad believed in working hard for a company and keeping “secure”. He died penniless. Rich dad chose to own businesses and boosted his income “passively” by investment, becoming one of the richest Hawaiians and leaving tens of millions of dollars. Kiyosaki admires the “positive-thinking” guru Napoleon Hill (see below) and touts mantras such as “I choose to be rich and I make that choice every day”. The focus is on getting rich, rather than being comfortable. He explains that his “personal basis” is property. Expert’s verdict Zac Ghadially, of Yellowtail Financial Planning, says: “Building an investment income stream can work, but not for everyone. Also, we are advising people to scale down on property at the moment — to use it to meet their life goals, but not as an investment.” Times Money rating (out of five): 1 star How to be Smart With Your Money by Duncan Bannatyne Orion, £12.99 This new book has the advantage that it was written for a British market with the credit crunch in mind. It offers a comprehensive guide to earning, spending, borrowing, investing, saving and budgeting — with sections on choosing a savings account and buying a car, for example. It also has a list of questions to ask when shopping for a loan. There is no get-rich-quick carrot or big “secret” to success. Bannatyne takes a more cautious line than Kiyosaki, writing, for example, that “the golden rule of investment is to spread your risk” — a strategy dismissed by the American as for people who “go nowhere”. He emphasises that readers should stop...

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#1 Home Based Business thriving in this Economy. Voted Best By lifetime TV.

From : YouTube :: Tag // businessAuthor: 1111qt Keywords: economic depression donald trump robert kiyosaki Business gold silver forex abundance harmonic wealth james ray money positive thinking oprah winfrey dani johnson success tools call freedom the secret mindset coaching seminars new earth transformation Added: July 20, 2009 Read more from the original source: #1 Home Based Business thriving in this Economy. Voted Best By lifetime TV. Share and...

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Mike Maloney and Robert Kiyosaki on Gold and Silver

From : Top RatedMike Maloney and Robert Kiyosaki on Gold and Silver Read more: Mike Maloney and Robert Kiyosaki on Gold and Silver Share and...

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Marrying for Love … of Money

by Robert Frank On an episode of “Dirty Sexy Money”, ABC’s soapy drama about the filthy rich, heiress Karen Darling gets married for the fourth time, to a golf pro. Minutes after the ceremony, she decides she wants a divorce, leaving the golfer to wonder about his $3 million guarantee in the pre-nuptial agreement. “I still get the check, right?” he asks. “Of course,” Ms. Darling sneers. “I made a vow.” Marrying for money isn’t just grist for television plot lines. With the wealth boom creating unprecedented riches — and greater opportunities for gold-digging by both genders — price-tag partnerships and checkbook breakups are increasingly making headlines. Even more surprising, according to a new survey, are the going rates for today’s mercenary unions. BEAUTY FADES Celebrities get the most attention, of course, whether it’s Kevin Federline, the backup dancer-turned-millionaire ex of Britney Spears, or Heather Mills, Paul McCartney’s estranged second wife, who is set to receive tens of millions of dollars when her divorce is final, according to the British press. Yet even among the workaday (or wannabe) wealthy, marrying for money has become a popular pursuit. In an infamous personal ad posted on Craigslist this summer, a twentysomething New Yorker who described herself as “spectacularly beautiful” wrote that she was looking for a man who made at least $500,000 a year. She’d tried dating men earning $250,000, but that wasn’t “getting me to Central Park West,” she said. The ad inspired all manner of parodies and follow-ups, including one by an investment banker, who replied that since his money would grow over time but her beauty would fade, the offer didn’t make good business sense. She was, he said, a “depreciating asset.” To many New Yorkers, jaded by multimillion-dollar condos and wall-to-wall wealth, the salary request probably seems reasonable, maybe even low. Yet nationally, the going rate is much lower. According to a survey by Prince & Associates, a Connecticut-based wealth-research firm, the average “price” that men and women demand to marry for money these days is $1.5 million. The survey polled 1,134 people nationwide with incomes ranging between $30,000 to $60,000 (squarely in the median range for nationwide incomes). The survey asked: “How willing are you to marry an average-looking person that you liked, if they had money?” AGAINST LOVE Fully two-thirds of women and half of the men said they were “very” or “extremely” willing to marry for money. The answers varied by age: Women in their 30s were the most likely to say they would marry for money (74%) while men in their 20s were the least likely (41%). “I’m a little shocked at the...

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Program helps kids manage money, debt

It’s a late weekday afternoon and best-selling author Sharon Lechter is once again giving financial advice. Today, her target audience is quite different from the adults who purchased the “Rich Dad Poor Dad” books she co-authored with fellow Valley resident Robert Kiyosaki. This group consists of a half-dozen young teenagers at a Phoenix branch of the Boys & Girls Clubs, and the audience is one Lechter hopes to appeal to with YOUTHpreneur, part of her new business that teaches children how to be entrepreneurs. “I have a passion for financial literacy for families and children,” said Lechter, who left the Rich Dad Company in 2007 after disagreements with Kiyosaki and now runs Pay Your Family First. “What is happening with today’s kids is they don’t understand delayed gratification. . . . Kids want it before they even think about working for it.” Lechter’s focus on children comes at a time when national studies show high-school and college students are plunging themselves into deep credit-card debt and having easier access to credit. Meanwhile, President Barack Obama last week threw his support behind a consumer-friendly credit-card law that eliminates tricky fine print, sudden rate increases and late fees. The YOUTHpreneur program teaches children how to make money through gumball sales, and she’s teamed with local branches of the Boys & Girls Clubs and Fry’s Food Stores. Through the program, children learn about sales and profits by operating a candy machine at a Fry’s store. “It was a good experience. We learned about business,” said Michael Clark, a 14-year-old from Greenway Middle School in Phoenix. “We had fun doing it, and we made some money for the Boys & Girls Club. So, it was all good.” Lechter, of Paradise Valley, has taught the YOUTHpreneur program to about 70 children at six different Boys & Girls Clubs branches during the past year, and she’s selling the program on her Web site, youthpreneur.net. She said working with kids brought her career full circle as the certified public accountant began focusing on financial education when her oldest son, Phillip, went off to college. She said she thought she had taught her son to manage money, but as a freshman at Arizona State University, he quickly dug himself into a $2,500 credit-card debt. “I was so upset, but I was more angry at myself than him,” Lechter said. “We didn’t bail him out. It took him about five years to get himself on track.” The lesson apparently stuck because Phillip Lechter now is president of her new company, and he said the business would focus on entrepreneurship, financial education and money tips for teens and parents....

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