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As the middle class gets smaller and smaller, more of the tax burden will fall on highly compensated individuals. This is especially true of highly compensated employees and professionals. The tax laws will always favor business owners and investors because they provide jobs and housing.

As Social Security and Medicare go further and further into a deficit, more and more taxes will have to be raised to pay for this deficit. These taxes will fall primarily on highly compensated employees and professionals.

The sooner you start learning about and planning for the coming inflation and higher taxes, the less you will be affected by inflation and the lower your taxes will be.

Rich Dad’s Advisors: Guide to Investing In Gold and Silver: Protect Your Financial Future

With inflation, middle income earners will be pushed into higher tax brackets and will lose many of their deductions just as many people have become part of the alternative minimum tax (AMT) system through inflation.

Tax laws are basically the same throughout the world. They favor the entrepreneur and active investor and punish the employee, self employed, and casual investor. Wherever you are in the world, your taxes will be impacted by the inflationary practices of the United States and other countries.

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This is the book that I read many years ago, or so it seems. When I sat down to read it I could not put it down, while there is some controversy as to the authenticity of the story, it really does not matter. 

What does matter is the profound effect it can have on your life. What I found in reading this book, was that it opened my eyes to all of the possiblities and opportunites I had in Life!

When I looked at what I was doing then, working 40+ hours a week, fearful that I could loose my Job at anytime, I decided it was time for a change!

For years everyday I would go into work, “I worked on Large Corporate / Private Business Jets” I would ask myself the question, “Why Them.”

The one thing they all had in common was that they where Business Owners, Not employees!

The book is broken down into the follow Six Lessons:

• Lesson One – The Rich Don’t Work For Money.
• Lesson Two – Why Teach Financial Literacy.
• Lesson Three – Mind Your Own Business.
• Lesson Four – The History of Taxes and The Power Of Corporations.
• Lesson Five – The Rich Invent Money.
• Lesson Six – Work to Learn – Don’t Work For Money.

Chapter Eight has some very important lessons in it especially for network marketers, Overcoming Obstacles!

1. Fear.
2. Cynicism.
3. Laziness.
4. Bad Habits.
5. Arrogance.

If you do nothing else this year take the time to read this book.

Robert Kiyosaki identifies the reasons why financially intelligent people still fail in business, investing and building income generating assets, which create true wealth making the money work for you.

Advice On Starting A Business – Laziness

Busy people are often the laziest! Are you busy? Busy shopping, watching television, reading the paper working too much?

Busy people often avoid things they don’t want to work on!
Deep down you know there is something you could improve, you want to improve or maybe you need to improve? If someone was to ask you about this you would probably get defensive. Do you need to exercise more? Spend more time with your family and friends? Improve your posture? Improve your financial intelligence? Take your dog for a walk?

Your desire is your motivator, your fuel. You need to change the way you think:

“I can’t afford it” should become “How can I afford it?” “How can I afford to never work again?”

You may think this is greedy, that’s OK you have been conditioned to feel guilty about greed.

Robert’s rich dad said “Guilt is worse than greed, for guilt robs the body of its soul”.

Eleanor Roosevelt said “Do what you feel in your heart to be right – for you’ll be criticized anyway. You’ll be damned if you do and damned if you don’t.”

Advice On Starting A Business – Habits

Our every day habits control our behavior.

Robert Kiyosaki believes the best habit when paying bills is to pay yourself first, even when you don’t have enough money to pay all of your other bills.

Why you ask? The reason is simple your creditors, the tax department, the bank whoever it is you owe money to will chase you for payment until you pay. Would you be as good at chasing yourself to get paid? I don’t think so. The debt collectors chasing you become your personal motivators. Forcing you to think and look for alternative forms of income. You may choose to work harder, you may choose to work smarter.

The habit of mental exercise makes you stronger, like anything with practice it becomes easier and you become better at it.

Advice On Starting A Business – Arrogance

Arrogance is your ego plus ignorance. People often use arrogance to try to hide ignorance. When you feel you are being ignorant, don’t be arrogant about it; educate yourself until you are no longer ignorant.

Laziness, Habits and Arrogance are all traits you are responsible for, improving in these areas you will see a positive impact on all areas of your life. My advice on starting a business is to be committed to ongoing personal development now and for the rest of your life.

Does that sound like too much work?

Yes – than read this article again!! I think laziness, bad habits and a little arrogance is holding you back…

No – great than get to it!!

And don’t forget to leave your comments …

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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 them for more cash.

Liabilities by Robert’s definition: they don’t put money into your pocket

• Personal effects, TV set, home theatre, personal car that does not get maintenance and fuel allowance from the work side.
• All the things that would take away money from your pocket are liabilities.Any time, you have some money to spend, ask yourself whether you are going to spend on buying an asset or acquire a liability.

To be financially free now and in the future, we should buy more assets than liabilities.

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Education in America could use a big dose of innovation. How about one public school system for employees, and another for entrepreneurs? Leave your comments at the end!

In the summer of 1932, presidential candidate Franklin Delano Roosevelt promised, “I pledge you, I pledge myself, to a new deal for the American people.”

Today, it is time not for a “New Deal,” but a “New Mission.”

America’s schools need to take a page from the businesses that have been created by entrepreneurs over the past decades. Henry Ford, Bill Gates, Steve Jobs, Sergey Brin and Larry Page have all given us the road map, but the path toward entrepreneurship is often the road less traveled America’s schools.

The U.S. unemployment rate is currently 9.7% in what many call a “jobless recovery.” So what should we do? The problem and the solution can be found in America’s educational system and its current mantra: “Go to school and get good grades, so you can get a good high-paying job.” In simpler terms that means, “Go to school to become a good employee.” But there are too many employees, which is why we have an unemployment problem. Today, kids just out of school aren’t finding jobs. At the same time, many of their parents are going back to school for retraining. But they’re not finding jobs, either.

The idea of a high-paying job for life is truly an American dream — but no longer a reality. With low-priced labor and lower-priced, higher-performance technology, high-paying American jobs will be disappearing at greater speed as they move overseas.

Two-track system

America’s education system needs an injection of innovation — which is just what entrepreneurs do. We need two different public school programs: one for employees and one for entrepreneurs.

The way to train entrepreneurs is almost exactly the opposite of the methods used to train employees. Another common thread about Ford, Gates and Jobs is that they all dropped out of school. This is not to say education is not important, but training entrepreneurs is different from training people to be employees. It is much like the difference between traditional education and the military academy model.

Many of the lessons I drew upon to write my book, Rich Dad, come from the U.S. military academy system.

In 1965, I left a sleepy sugar plantation town of Hilo, Hawaii, and journeyed to Kings Point, N.Y., to attend the U.S. Merchant Marine Academy. With four years at the academy and six years as a Marine Corps pilot, including two trips to Vietnam, I gained many of the real-life skills and character traits I count on today as an entrepreneur.

Success in the military is a great bellwether signaling achievement in business. For example, the Israeli Defense Forces are a breeding ground for education and entrepreneurs, where many serve in units specializing in military technology. At the beginning of 2009, the 63 Israeli companies listed on the Nasdaq, many led by former IDF members, outnumbered those of any other foreign country, according to the book Start-up Nation by Dan Senor and Saul Singer. There are simple lessons here for America’s gridlocked education system.

If I were running America’s schools system, I would create the U.S. Business Academy for Entrepreneurs, modeled after our federal military academies. Admissions would be via congressional appointment along with nominations from community business leaders. The entrance exams would be rigorous; the curriculum would be very different from traditional colleges.

On first day at any of the five federal military academies, each student is required to memorize the academy’s mission. In the military, mission is more important than life. After leaving the Marine Corps and starting my own business, I found many executives with MBA degrees focused only on money. Money was their only mission. If they could cut expenses by firing employees, so be it. This was unconscionable at the academy and the Marine Corps. As military officers, our mission was to serve our country and bring our troops home alive. It was drummed into our souls that our mission was more important than our lives.

The mission of the U.S. Academy for Entrepreneurs would be to create sustainable, well-paying jobs for employees by aggressive growth of the business. Too many executives are trained to grow the business through mergers and acquisitions, using massive amounts of debt. Though this might make shareholders happy, in most cases it rips the soul out of the business, loading it with debt while putting the jobs of employees at risk.

Creating real jobs

If corporate executives cannot grow a business organically, they will often repurchase their shares to make it look as if the share price is going up — again to keep shareholders happy and the CEO employed. This is business manipulation, and not the true mission of a sustainable business. The lesson learned is, a loyal employee is not as important as money.

The U.S. Business Academy for Entrepreneurs would have only real entrepreneurs as teachers. I would ask that they work for only $1 a year (think of the great entrepreneurial CEOs who have turned around their businesses doing the same). You see, if they were real entrepreneurs, they would not need the money. They would teach for the same reason the students are there: the mission to create entrepreneurs who create sustainable jobs for the country.

Whether you agree with me or not, I hope it’s clear that we need to create more entrepreneurs — since only entrepreneurs can create real jobs.

We need to pledge ourselves to this New Mission: job creation by those who are true job creators.

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