Robert Kiyosaki Blog

Financial Education Portal inspired by Robert Kiyosaki


Money to make money

You need money to make money, it’s one of those cliches that I actually like and agree with but I am a bigger proponent of cutting out the clichs we hear all the time and getting to the practical application of the principle behind it. It is just as easy to say you have to have money to lose money. If you think it is easy to make a million dollars by buying a million shares of a stock and waiting till it gains one dollar then it is just as easy to loose a million dollars by buying the same stock and waiting for it to lose a dollar a share. Einstein’s theory of relativity had nothing to do with money but that doesn’t stop me from stealing his idea and applying it to finances. My economic theory of relativity says that the more money you have the more you can gain or lose, the less money you have the less you can gain or lose. It’s all relative. But ok, what do we do with this information? Well let’s look at how a person begins the journey. The first place to start making money is by getting a job or starting a business. Once you have an income then you need to save. Saving also includes investing. If I have a thousand dollars in the bank I have saved that money and if I buy stocks with it, I still saved the money but now I am trying to get more with it. If my income is high I will probably have more to invest and if my income is low I will have less money to save or invest (sorry, don’t mean to insult your intelligence but hang in there I am getting to the point). The low income person might not be able to catch up to the high paid person but, if they are willing to work at it, they can certainly do better. Remember, the high income person is also going to have higher expenses for things like his big house (higher mortgage and utilities), his fancy car and his fantastic vacations. On a percentage basis you can save and invest as much or even more than the high income earner but you have to be willing to give up one thing in exchange for another. In order to save more you have to spend less. It takes money to make money but notice there is nothing there about amount. You have money and as long as you have realistic goals you can have the same gains as a rich person. The difference is that...

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Residual Income for LIFE

From : YouTube :: Tag // homebusinessAuthor: UOIScampus Keywords: residual income Robert Kiyosaki mlm ression proof industry professionals home business marketing Added: March 24, 2009 View original post here: Residual Income for LIFE Share and...

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The Art of Alliances

~ Robert Kiyosaki Whenever I consider new strategic alliances or expansion opportunities, I look for three things: good partners, good financing and good management. Whether we’re looking for investors, partners or vendors, we weigh their experience, expertise, track record and character. The quality of the businesses or individuals we align with directly affects our future. Are your philosophies and standards aligned? Is there trust and respect and a shared vision for the future? Are the business rules and reporting processes clear and manageable? The best partnerships and alliances are ones that have the potential to deliver big wins–for both sides. I’ve come to believe that the strongest businesses are relationship-based, not transaction-based. We work to develop relationships with our customers to build loyalty and lifetime value. It’s the same with the B2B deals we strike: Long-term relationships in which both sides benefit and profit trump short-term, transactional plays when it comes to the investment they require and the dividends they pay. Good financing means strong financials as well as optimal strategies within the deal for managing debt, structuring terms, handling revenues and cash flow, and maximizing tax advantages. Often, the terms of the deal can turn an average opportunity into a great one. Regarding the importance of strong management, you may have heard the maxim in business that “money follows management.” I often ask myself what other companies see when they put my company under a microscope. If a potential partner or investor asks who your management team is and how strong they are, what will they conclude? That same test applies to the alliance decisions we make as entrepreneurs. If your management is weak, so is the future of the business. If the management team of the company you’re considering as an alliance partner or vendor is weak or ineffective, so are your prospects of a successful and profitable relationship. Weak management will be challenged in both good and bad times–explosive growth requires as much focus and discipline as managing through a downturn. It’s easy to find bad partners, lose control of your cash flow and discount the importance of strong management. It’s harder to invest time and resources to find and vet agreements with strong partners, structure a deal that adds value to the entire relationship, and search for, hire, and build a strong and talented team of leaders. No matter how strong your product or service, your attention to these fundamentals–or lack of–will determine your future. Read the original post: The Art of Alliances Share and...

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Brief tips from Robert Kiyosaki

What tips do you have for building long-term relationships with the people who can help a business and investments grow? You have to be a great leader. It’s something I’m learning. I never stop learning to be a leader. I can’t say I am a great leader. I desire. I strive. I improve my leadership skills. There’s a great book called “The Starfish and the Spider,” and it’s a great book on leadership. It’s a very simple read. They’re two different leadership styles. In other words, you cut the spider’s head off, the whole animal dies. You can cut a starfish up in a thousand pieces and get a thousand starfish. That’s the difference. I am a starship style. I am not a spider style. It’s a great book on leadership, and I’m consistent in my leadership. Looking back over the years, is there anything you would have done differently to be more successful today? I don’t regret anything I’ve done because everything I’ve done has been a learning experience. I never stop learning. I make mistakes constantly. Today, with the economy as hard as it is, I would just say a tough economy means I have to get smarter. That’s all it means. I don’t judge it as good or bad. Other than being on “Oprah,” what marketing and promotional activities have been successful for you? Every product I design has a viral component to it. In other words, I don’t have formal sales people working for me or my company. So if a product is viral, and that means if someone recommends your book to someone else, it was designed into the book and my board game. In other words, I have people teaching people or people selling for me. And in today’s over-cluttered, over-communicated world, the person you’re going to listen to the most is a friend who says, “Hey, I read a great book, or here’s a great product I recommend.” It is the most powerful form of marketing there is. It’s also the oldest form of marketing there is. Who are some other people that you look up to and have guided your career along the years? Well, I have partners who I respect tremendously. I only do business with people I respect. You look at all of our company, and my advisors are real advisors. They are not financial planners. They are not celebrities. They are people hitting the trenches every single day. Another thing too, I don’t have to know anything. I just have to know who knows. The reason I say that is I’m coming out with a new book called...

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“Quick Reno”

Jassie Osei-Tutu “Kid CashFlow Canada” does “Quick Reno” on Apt.203-1518 West 70th in Vancouver B.C. Canada. “Home of the 2010 Olympics. tags: canada cash cawley charissa chico chris colin from recent posts tagged preston – (beta) Read more here: “Quick Reno” Share and...

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Kiyosaki strikes it rich again

By Louis Sahagun Los Angeles Times One day in spring 2007, the phone rang in the little Buddhist center in Long Beach that has been the focus of the Venerable Tenzin Kacho’s life since she was ordained a nun by the Dalai Lama. On the other end of the line was her brother, Robert Kiyosaki, a combat helicopter pilot in Vietnam who crashed three times and went on to become a globe-trotting entrepreneur and author of a bestselling book on personal finance, “Rich Dad, Poor Dad.” He was calling from his publisher’s office in New York. There were some pleasantries, then Kiyosaki cut to the chase: “I’ve got a great idea for you. We’re going to write a book together.” Some background: Tenzin and her brother were raised in a family of Japanese descent in Hilo. Their father was the state superintendent of schools. Their mother was a registered nurse. The book, her brother said, would be an inspirational blend of Eastern religion and business acumen told through their own experiences and conclusions about what is ultimately meaningful in life. “It’ll be great,” said Kiyosaki, a self-described meat-and-vodka deal-maker who believes that peace comes after a fight. “We’ll promote the book on a world tour. Eventually, you can start your own book series. I can see the titles now: Karma. Reincarnation. Compassion.” For Tenzin, a soft-spoken woman who wears saffron robes and shaves her head, the idea seemed audacious. Peace, meditation and loving kindness had been the bywords of her life at the center, an enclave of intricate altars, incense, votive candles and framed images of the Dalai Lama. Yet, to hear her brother tell it, the endeavor would bring a double benefit: It would help self-centered business people — such as him — get in touch with their inner Buddha. And it would make a working woman out of her and vastly expand the reach of her spiritual counseling. Tenzin calls it one of the hardest decisions of her life. Only months earlier, Tenzin, whose secular name is Emi Kiyosaki, had undergone an angioplasty that left her with out-of-pocket medical bills totaling $17,000 and ongoing battles with what she calls “a really bad insurance company.” No surprise there. While seeking spiritual perfection, she had all but ignored practical matters such as researching adequate insurance coverage, creating bank accounts and earning an income. Not anymore. Her collaboration with her brother resulted in publication this year of their book “Rich Brother, Rich Sister: Two Different Paths to God, Money and Happiness.” It also has redefined her priorities. In accordance with an adage espoused by her brother — “Give a man...

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Live Online Virtual 3-D Virtual Reality & Social Media Conference April 21st, 2009

Please join us as Jim Peake and Ron Goedendorp hold a Live Virtual Conference on Social Media Effectiveness Insights for Businesses  “Tomorrow’s workforce and consumers seamlessly use social media, and your company will either be a part of that world, or not,” said Ron Goedendorp, President of Social Metric Marketing ”Your very survival depends on what you are doing in that world today.”  Executives and participants can get exposure to the exciting and opportunity filled world social media networks present to brands and companies, including strategies for successfully putting together a plan and participating in better methods for leveraging resources such as Twitter, Facebook, LinkedIn, Yelp and more.   On April 21st we are sharing with the rest of the free world some of our findings/interviews re: social media insights for businesses in a Live Online Virtual 3-D Conference (if we can get enough people we will put it in a “virtual stadium.”)    Your registration(s) tweets are welcome of course. J   We have a Facebook group going on it as well.      @jimpeake  @gorongo Share This Blog more…. BlogPulse Technorati Cosmos Sphere It Read more: Live Online Virtual 3-D Virtual Reality & Social Media Conference April 21st, 2009 Share and...

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10 Things Millionaires Won’t Tell You

by Daren Fonda  1. “You may think I’m rich, but I don’t.” A million dollars may sound like a fortune to most people, and folks with that much cash can’t complain — they’re richer than 90 percent of U.S. households and earn $366,000 a year, on average, putting them in the top 1 percent of taxpayers. But the club isn’t so exclusive anymore. Some 10 million households have a net worth above $1 million, excluding home equity, almost double the number in 2002. Moreover, a recent survey by Fidelity found just 8 percent of millionaires think they’re “very” or “extremely” wealthy, while 19 percent don’t feel rich at all. “They’re worried about health care, retirement and how they’ll sustain their lifestyle,” says Gail Graham, a wealth-management executive at Fidelity. Indeed, many millionaires still don’t have enough for exclusive luxuries, like membership at an elite golf club, which can top $300,000 a year. While $1 million was a tidy sum three decades ago, you’d need $3.6 million for the same purchasing power today. And half of all millionaires have a net worth of $2.5 million or less, according to research firm TNS. So what does it take to feel truly rich? The magic number is $23 million, according to Fidelity. 2. “I shop at Wal-Mart…” They may not buy the 99-cent paper towels, but millionaires know what it is to be frugal. About 80 percent say they spend with a middle-class mind-set, according to a 2007 survey of high-net-worth individuals, published by American Express and the Harrison Group. That means buying luxury items on sale, hunting for bargains — even clipping coupons. Don Crane, a small-business owner in Santa Rosa, Calif., certainly sees the value of everyday saving. “We can afford just about anything,” he says, adding that his net worth is over $1 million. But he and his wife both grew up on farms in the Midwest — where nothing was wasted — and his wife clips coupons to this day. In fact, most millionaires come from middle-class households, and roughly 70 percent have been wealthy for less than 15 years, according to the AmEx/Harrison survey. That said, there are plenty of millionaires who never check a price tag. “I’ve always wanted to live above my means because it inspired me to work harder,” says Robert Kiyosaki, author of the 1997 best seller Rich Dad, Poor Dad. An entrepreneur worth millions, Kiyosaki says he doesn’t even know what his house would go for today. 3. “…but I didn’t get rich by skimping on lattes.” So how do you join the millionaires’ club? You could buy stocks or real estate,...

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Chinese rush to buy cheap US property

By CHICHI ZHANG, Associated Press Writer BEIJING – Beijing lawyer Ying Guohua is heading to the United States on a shopping trip, looking not for designer clothes or jewelry, but for a $1 million home in New York City or Los Angeles.   He expects to get a bargain. Ying is part of a growing number of Chinese who are joining tours organized especially for investors who want to take advantage of slumping U.S. real estate prices amid a financial crisis. “It’s a great time to buy because of the financial crisis, and houses in large cities like New York and Los Angeles will definitely go up in a few years,” Ying said. The home is an investment, but he’s also planning long-term: He hopes his 5-year-old son might use it if he goes to college in the United States. While China’s ultra-rich have been buying property in the U.S. for years, the buying tours are new, made attractive by still-rising Chinese income levels and American real estate prices that have been falling for two and a half years. More than 100 Chinese buyers have joined such tours since late 2008, according to Chen Hang, the China-born vice president of real estate at Fortune Group. The Pittsburgh, Pennsylvania, company shows foreclosed commercial property to Chinese buyers. “The Chinese are going to seize the opportunity to take advantage of some great deals,” Chen said. Ying, the Beijing lawyer, is one of 40 investors going to New York, California, Boston and Las Vegas on a Feb. 24-March 6 tour organized by Beijing-based SouFun Holdings Ltd., a real estate Web site. SouFun plans to show participants foreclosed properties priced at $300,000 to $800,000. “We never thought these tours would garner such interest, but we’ve had an overwhelming response,” said SouFun CEO Richard Dai. “Before, we heard of Chinese or Hong Kong movie stars buying homes in the U.S., and now more and more Chinese can afford to have the same.” The home-buying opportunities mirror a larger trend. Cash-rich Chinese companies are looking to buy resources made suddenly cheaper by the downturn or companies suffering under the global debt meltdown. On Thursday, the Aluminum Corp. of China, also known as Chinalco and the world’s leading aluminum producer, invested $19.5 billion in debt-burdened global miner Rio Tinto Group _ China’s biggest overseas investment to date. Because the authoritarian government has imposed controls limiting China’s exposure to international capital flows, the country has largely avoided the worst of the global financial crisis. Meanwhile, high-level incomes have continued to rise. China had the world’s fifth-largest population of millionaires in 2008 with 391,000, up 20 percent from...

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What Makes Rich Gets Richer?

What makes rich gets richer? We notice that the rich keeps on getting richer while some of the poor gets poorer. Kiyosaki continued his teachings on his “Rich Dad Guide to Investing”. If you are not familiar, there’s this one rule originated by the Italian Economist Vilfredo Pareto in 1897 called “Pareto’s Principle or 80/20 Rule” also known as the Principle of Least Effort. In business, we can apply it and we can say: put most of our efforts on the 20% of things that bring in 80% of the income in our business. Kiyosaki agreed with the 80/20 Rule for overall success in all areas but not for money. He went on to say that when it comes to money, he believed in the 90/10 Rule. He noticed that 10% of people had 90% of the money. In the world of show business, 10% of the actors and actresses had 90% of the money. In the world of sports, 10% of the athletes made 90% of the money. The same 90/10 Rule applies to the world of investing. That is, 10% of the investors gained 90% of the wealth in the world. Would you want to be included in that 10% that owned 90% of the wealth? Kiyosaki differentiated between an average investor vs. rich investor or commonly known as the 90/10 investor with regards to their thinking. This is also what makes the rich even richer. Let’s look how rich investor thinks. Most investors say, “don’t take risks,” the rich investor takes risks. The world is full of risks and this is also applicable to the world of investing. We all know that a high return involves a high risk. And the higher the returns, the more profitable the investment is. The rich investor thinks about how to improve his skills so he can take more risks. While most investors lives in fear of stock market crashes, the rich investor looks forward to market crashes as an avenue or opportunity to make more money. Most investors try to minimize debt. The rich investor increases debt in their favor. I think this idea has something to do with good debt vs. bad debt. A bad debt is simply a burden because it will drain our finances. A good debt, on the other hand, helps us to manage our finances and somehow makes us even richer. A debt can be considered a good debt if the interest income from where that debt is invested is more than the interest expense of the debt availed. This is what you called in finance as DEBT LEVERAGING. Let’s look at some of...

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