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 Robert

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 program whose time has come. The program would not be possible without the original text from Wallace D. Wattles, the skills of leading teachers of our time, the phenomenal success of "the Secret" and the Internet as a learning and distribution tool.

Click here to learn more about the Secret Science of Getting Rich and the details of the program.

Click here 

The Science of Getting Rich Teachers:

Bob Proctor

Bob Proctor is an author, lecturer, counselor, business consultant, entrepreneur, and teacher preaching the gospel of positive thinking, self-motivation and maximizing human potential. In that endeavor, he follows in the footsteps of such motivational giants as Napoleon Hill, Earl Nightingale and Wallace D. Wattles.

His extraordinary teaching ability has won Proctor acclaim around the globe and has carried the Canadian-born motivator to the far reaches of the earth. He is as well known in Australia and Malaysia as he is in Alberta and Mississippi.

Born in a little town in northern Ontario, Canada with the low self-esteem that often befalls a family’s middle child, he performed poorly in school, dropped out and did a hitch in the navy. Afterward he drifted from one dead-end job to another until a friend introduced Bob to the concept of self-development through Napoleon Hill’s classic Think and Grow Rich.

With the spark generated by Hill’s words, Proctor found the initiative to start an office cleaning business which he grew to international scope in his first year of operation. From that experience – after seeing what he had been able to accomplish with just a rudimentary knowledge of personal motivation and goal-setting – he hungered for more information.

His quest took him to the Nightingale-Conant organization to study under his mentor, Earl Nightingale. Once on board, he rose swiftly through the ranks. Eventually, while the Nightingale-Conant organization assumed the forefront in wide-scale distribution of personal development programs, Bob felt the need to take his ideas and methods directly to the individual, to the one-on-one level which had proved so successful for himself.

In the mid 1970′s, Proctor established his own seminar company and secured a contract to work with a few hundred agents of Prudential Life Insurance Co. of America in Chicago. During his first seminar Bob made the suggestion that any agent present could write $5 million in business that year if the agent made a decision to do so.

The fact that the seminar took place in July with the year half over and that no agent in that region had ever written so much business in the 100-year history of the company made Bob’s suggestion appear to be outrageous. However, when the performance level of the entire division increased substantially with more than one agent actually accomplishing the deed, Bob’s reputation as a motivator was established.

Over the ensuing years, Proctor has shared his special message and expertise with hundreds of business entities worldwide and, through a program of live seminars, with thousands of people of all ages in all walks of life.

Meanwhile, in addition to his international best-seller You Were Born Rich, he found time to author other works as well, including Mission in Commission, The Winner’s Image, The Goal Achiever, The Success Series, The Success Puzzle, The Recruiting Puzzle, and Being Your Very Best.

Jack Canfield

Jack Canfield is an American motivational speaker, trainer and author. He is best known as the founder and co-creator of The New York Times No. 1 best-selling "Chicken Soup for the Soul" book series, which currently has over 65 titles and 80 million copies in print in over 37 languages. According to USA Today, Canfield and his writing partner, Mark Victor Hansen, were the top-selling authors in the United States in 1997.

With a BA from Harvard University, a Masters from University of Massachusetts, and an honorary doctorate from the University of Santa Monica, Canfield has been a high school and university teacher, a workshop facilitator, a psychotherapist, and for the past 30 years, a leading authority in the area of self-esteem and personal development.

Canfield is the founder of "Self Esteem Seminars" in Santa Barbara, and "The Foundation for Self Esteem" in Culver City, California. Self Esteem Seminars trains entrepreneurs, educators, corporate leaders and employees on how to accelerate the achievement of their personal and professional goals, while The Foundation for Self Esteem provides self-esteem resources and trainings to social workers, welfare recipients and human resource professionals. Canfield is also the President of Souperspeakers.com, a speaking resource service that provides inspirational speakers for event planners worldwide.

Canfield has traveled to over 21 countries, delivering hundreds of keynote speeches, workshops and trainings each year. As part of his presentation style, he always uses inspirational, motivational and uplifting stories to help his audiences discover, experience and retain key concepts and approaches. After each session, audiences everywhere had encouraged him to put his stories into a single book.

In 1990, while on an airplane home, he felt that it was time. He shared his idea with author Mark Victor Hansen during breakfast one day. Hansen liked the idea, and so began the Chicken Soup for the Soul phenomenon. But with their busy schedules, translating what worked on the podium onto the written page proved more challenging than either of them had anticipated. After three long years, the two had compiled just sixty-eight stories — a far cry from the 101 they believed was the magic number for a successful book. Nonetheless, their successful partnership has spawned many other titles that have made them enormously famous.

Canfield has appeared on numerous television shows, including Good Morning America, 20/20, Eye to Eye, CNN’s Talk Back Live, PBS and the BBC. Today, he speaks shares his success strategies with companies and associations worldwide.

The most recent book Canfield has written was the 2005 publication of The Success Principles. In it Canfield shares 64 principles that he and other people have utilized to achieve great levels of success.

Aug 072007

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.  "Robert Kiyosaki’s work in education is powerful, profound, and life-changing.

Financially

It encourages individuals to become financially literate to combat the upcoming problems facing America, such as the shrinking middle class and the entitlement mentality.  Critics of Kiyosaki’s work have thought some of his advice to be financially poor or even dangerous.  Most people struggle financially because they do not know the difference between an asset and a liability.  The main reason people struggle financially is bad decisions about getting an education, bad luck, too much spending, too little savings and investing, too much reliance on organizations for their livelihood, and not enough reliance on themselves.

Secrets

Robert Kyosaki is not a rich man who had decided to share his secrets, he is a rich man who has been able to spin vague and dangerous advice into bestselling books.  Rich Dad Secrets to Money, Business, and Investing offers the sessions about money that Robert Kiyosaki, a self-made millionaire, learned from his rich dad … a dad that gave him not money, but only his secrets to acquiring great wealth.  In this groundbreaking program, done exclusively for Nightingale-Conant, you’ll learn these priceless secrets.  You can learn from him the secrets of the rich.  Now you can order the Advanced version of CASHFLOW 101, CASHFLOW 202, which will teach you all those secrets and specific techniques that professional investors use to make money in markets that are volatile and even falling.  Robert offers classes lasting between one hour to three days, in order to teach to people about the secrets of the rich people.  By: Wisdom of Rich DadSecret of the Riches video2007-05-20 08:06:00This is a 20 min video of Robert Kiyosaki explaining about the secrets of the richesA classic video which you don’t want to miss.

Power

Kiyosaki’s claim is given some credence by the founder of mutual fund powerhouse Vanguard, John C.  On page 14 he approvingly quotes “rich dad” as saying, “Money is power.  He wanted me to recognize his power and desire to have that power for myself one day.  It is the knowledge of the power of the legal structure of the corporation that really gives the rich a vast advantage over the poor and middle class.  CASHFLOW 101 is so powerful because it reflects your true behavior and allows you to take risks in a safe environment.

Wisdom

"Robert Kiyosaki" "Why the Rich Get Richer" Create a news alertRobert KiyosakiWhy the Rich Get RicherRobert Kiyosaki, author of "Rich Dad Poor Dad," is an investor, entrepreneur, and educator whose perspectives on money and investing fly in the face of conventional wisdom.  In Rich Dad’s world, the Rat Race is that vicious cycle of living paycheck to paycheck… and the conventional wisdom that getting a good education, good grades and a safe, secure job (with “good benefits”) will lead  to “the good life.  Thanx again, and good luck with your new Real Estate book and I hope time permits you to share some of your wisdom with me.  The eighth book in the Rich Dad series reveals the financial wisdom of the rich, which is neither taught in schools nor discussed in the popular financial press.  Robert Kiyosaki, author of "Rich Dad Poor Dad," is an investor, entrepreneur, and educator whose perspectives on money and investing fly in the face of conventional wisdom.

 

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 loan to improve the property. A year later, due to attracting better tenants at higher rents and a lower vacancy rate, the property was appraised at $14 million.

With the higher appraisal, we refinanced the property with a new loan at a better interest rate, and were able to take out $4 million tax-free. The money is tax-free because it’s a loan, not profit. The debt service — the monthly mortgage payment — is paid for by the tenants.

With this investment strategy, our ROI is practically infinite. We have no money in the investment, yet we collect a monthly cash flow and still have control over the property. To me, this is better than buying a property, selling it, and having to pay taxes on our gains — or be in a rush to buy a new property just to avoid capital gains taxes via a 1031 tax-deferred exchange.

(A 1031 tax-deferred exchange gives sellers a certain number of days to move money from a sale into another property and defer paying taxes on the gains. The process is more complicated than it sounds, which is why I strongly recommend using an exchange agent to guide and assist you in the process. Most real estate brokers can recommend an exchange agent if you live in the United States; other countries have different rules.)

Lip Service

Finding a great partner like Ken is similar to finding a great husband or wife — you have to kiss a lot of frogs before you find the prince or princess of your dreams. I don’t know of a magic formula other than to keep kissing.

My rich dad often said to me, "You need to be a good partner if you want to find a good partner." Obviously, this is as true in business as it is in love. In my opinion, the best way to begin is by looking in the mirror and asking yourself, "What do I bring to the table? Am I the kind of person I would want to do business with?" It’s important to evaluate your strengths and weaknesses honestly.

One of the reasons Ken, Ross, Kim and I do so well together is because we all love real estate; we complement each other in terms of our individual strengths and weakness; and we’re all adept at raising money. We make a good team because there’s synergy between us, and synergy is money.

A Way Out

My most important partner is my wife, to whom I’ve been married for nearly 21 years. When Kim and I first met, I was deep in debt from a disastrous business partnership. Regardless, on our first date I asked her, "Do you have a problem with being rich?" It’s tough to get rich if your partner doesn’t share that goal, and I would never have become rich without her.

That brings me to my next point: All partnerships should have an exit strategy. My partner Donald Trump says that married couples should always have a prenuptial agreement. True, a prenuptial is important if one partner is much richer than the other before marriage, but Kim and I don’t have one. Instead, we have our own corporations that we control independently.

Still, Donald is right: The best time to think of an exit strategy is before becoming partners — that is, after you’ve kissed a few frogs and have found your ideal business companion. But remember: They sometimes turn back into frogs, and you can’t do a good deal with a frog.

Biography

Robert Kiyosaki Comments Off
Jul 082007

Robert T Kiyosaki is a Hawaiian born author and motivational speaker. He studied in America, joined the Marine Corps and fought in the Vietnam war. Kiyosaki now lives in America and has risen to fame as a motivational author and speaker in the areas of personal finance, investing and business. 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.

Kiyosaki was born and raised in Hawaii of Japanese / American parents. After moving to New York and graduating from college, Kiyosaki enlisted in the Marine Corps. He become an officer and helicopter gun pilot, serving time in the Vietnam war. Upon his return Kiyosaki worked as a salesman for the Xerox printing and photocopying company.

His first success in the business world came with a company he started in 1977. Kiyosaki‘s company was importing nylon and Velcro wallets that went on to become associated with surfers, earning them the title of "surfer wallets" and making Kiyosaki good profits.

Eventually Kiyosaki went on to become an educator in the areas of business and finance. In the mid eighties he established an educational company where students worldwide could learn about his financial philosophies.

Kiyosaki developed a board game to educate people financially, while at the same time remaining entertaining. The Cashflow 101 board game went on to become very successful for Kiyosaki. Cashflow 101 is now also available online, where players are able to learn the basics of investing and personal finance.

Rich Dad, Poor Dad
Robert Kiyosaki‘s real success came with a series of books based on the rich dad and poor dad characters. Kiyosaki writes the books in an entertaining method where financial novices can remain entertained and at the same time learn his personal finance theories. The rich dad, poor dad characters are fictional people, loosely based on people in Kiyosaki‘s life. Basically, poor dad is the man that goes to work hard for his money in a government job, just getting by each week, paying the bills and feeding the family. Eventually going on to retire poor and unhappy. Rich dad is more of a risk taker and uses his money to invest in real estate and businesses, eventually leading to an abundance of financial wealth where he retires early with a large fortune.

The Rich Dad, Poor Dad series consists of more than 8 books based on themes of investing, real estate, personal finance and business motivation. Many of them have gone on to become best sellers in their genre with the most popular (Rich Dad, Poor Dad) selling more than 17 million copies.

Kiyosaki Critics
Robert Kiyosaki has created a loyal group of many followers world wide with his financial philosophies, but there are also critics of his teachings. Some critics have accused Kiyosaki of giving novice investors false hope and encouraging them to make financially risky investment decisions, especially in the areas of real estate.

Summary
Kiyosaki briefly retired at the age 47 in 1994. He remains involved with the Rich Dad educational company, aiming to spread his financial literacy message worldwide. Other founding members of the educational group include his Wife Kim Kiyosaki and Sharon Lechture, CPA (co-author of the popular Rich Dad, Poor Dad book).

Related Posts Plugin for WordPress, Blogger...

Robert Kiyosaki - Robert T. Kiyosaki, best-selling author of the "Rich Dad" series, and former Marine gunship pilot during the Vietnam War, is an investor, entrepreneur, educator and New York Times best-selling author. His financial education book series Rich Dad Poor Dad has been translated to over 100 languages and sold more than 26 million copies world wide. He also created the educational board game Cashflow 101 to teach individuals the financial and investment strategies that his rich dad spent years teaching him. Robert Kiyosaki's perspectives on money and investing are different from traditional teaching. The old beliefs of getting a good job, working hard, saving money, getting out of debt, and investing for the long term are obsolete in today's world. Robert Kiyosaki's teachings focus on generating passive income through investment opportunities, such as real estate and businesses, with the ultimate goal of being able to support oneself by such investments alone. Some of Robert Kiyosaki's bestselling books: Rich Dad Poor Dad, Cashflow Quadrants, The Conspiracy Of The Rich.