Robert Kiyosaki Blog

Financial Education Portal inspired by Robert Kiyosaki


Financial retirement plans: figured out sooner is better

~ By Lindley Press ~~ Are those “golden years” approaching, and if so, have you thought about your financial retirement plans? Robert Kiyosaki, world-famous author and financial advisor, said before you retire, if you want sell your home and move to greener pastures, you have to balance your books first. “Retirees are on fixed incomes , let’s say it’s $1,000 a month, last year in 2007. The value of a dollar dropped 15 percent last year and it was even more this year,” said Kiyosaki. “So that means that your $1,000 a month last year is now only worth $850 and this year it may go down to $600 a month.” According to Kiyosaki, if you follow a few simple rules, you will really be protecting yourself for the long haul. “It really becomes important to be able to differentiate good financial advice from bad financial advice.  Do you know what’s going to work for you and not work for you?” said Kiyosaki. “I think the biggest mistake is “Well, I’ve been with the same financial planner for 20 years,” and I say, ˜Well are you rich?” and they say ˜no.” Well, maybe you should change.” Consumer Reports recently found out what their retired readers wished they had done differently, so yet-to-be-retired readers could avoid similar mistakes. While 93 percent of their readers were satisfied with how they had prepared themselves, those who had some regrets said they wished they had saved more. Getting ready for retirement Are those “golden years” approaching, and if so, have you thought about your financial retirement plans? “Never count on your pension being enough, even a federal pension or a government pension,” said one retiree. Those with many years until retirement said they know this has to be a priority. Many others said they wished they had started saving younger, and that’s the advice they would give to others. “The more financial education you have, the better you’ll be able to tell is this advice good for me or bad for me. Does this advisor know what they’re talking about or not know what they’re talking about,” said...

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REOs Open!

Northern Worcester County Real Estate Investors: REOs Open Event NWCREI and Worcester REI are sponsoring REOs Open! tomorrow between 10AM and 4PM. Sitting on the fence, wanting to learn about buying bank owned property or wanting to buy something now with our without partners? Come tomorrow and tour several properties, including at least one that isn’t listed for sale currently! What makes this different than other real estate tours? How about analysis! Not only will you walk through the properties but you’ll have experts on hand. Some of the things discussed: What are the ball park repair costs? What are likely mortgage scenarios? What would my holding costs be? Etc., etc. In fact, you should come away with more than enough information that you should be able to offer on these properties, alone or with partners! Go to: Northern Worcester County Real Estate Investors: REOs Open Event for more details or to register. The Fitchburg Cashflow game follows at 5PM at James’ house. Read the original: REOs...

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Types of Investment Risks

No investment is risk-free. Some investment risks may be particular to the investment itself or to the particular asset class. Others may be much broader, for example relating to the country of investment or the economy in general. Economic risk (also known as systemic risk): Risk inherent in the economy as a whole. In the event of an economic recession, the stock market, the interest rate market and the exchange rate market may all be adversely affected. Economic risk can arise due to recession, failure in prudential regulation or faults in the financial system. Economic risk affects the entire market. Market risk (also known as unsystemic risk): Risk of volatility in a market or market sector. The “tech boom” and subsequent “tech wreck” in the United States in the late 1990s was an example of the risk of a particular market sector.  Market risk doesn’t affect the entire market. Inflation risk: Risk that inflation will adversely affect the performance of your investment. Interest rate risk: Risk that the value of an investment will change due to a change in interest rates. Changes in interest rates directly affect the value of interest rate securities, such as bonds. Interest rates also have an indirect effect on other investments, such as property and shares. Exchange rate risk: Risk of fluctuations in exchange rates adversely affecting the value of an investment. A good way to diversify your investment portfolio is to invest overseas, but changes in the exchange rate of the Australian dollar against the currency of the country you invest in can affect the return of your investment. Liquidity risk: Risk that an investment can’t be easily and quickly converted into cash (bought or sold) at a fair price. Credit risk (also known as counterparty risk): Risk that the counterparty to a contract will not live up to its contractual obligations. Political risk (also known as geopolitical risk): Risk that a government will unexpectedly change its policies or implement new regulations, making an investment less attractive. Political risk can also refer to the uncertainty associated with investing in countries with a political climate less stable than our own. Sovereign risk: Risk that a central bank will alter its foreign exchange regulations and reduce or null the value of foreign exchange contracts. Country risk: Risk that a country won’t be able to meet its financial commitments. Company risk: Risk that the company you invest in fails and goes out of business. Institutional risk (also known as operational risk): Risk of insufficient internal controls, failures in risk management systems, insufficient capital to absorb unanticipated losses, or inadequate governance structures. Institutional risk also refers to...

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The Psychology of Winning – Part 2

Here is the original post: The Psychology of Winning – Part...

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The Psychology of Winning – Part 1

Source:The Psychology of Winning – Part...

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Generation Rich Dad Invades Europe

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What Robert Kiyosaki had to say on Fox News

Recently, Robert Kiyosaki appeared on Fox News to promote his newest book, Increase Your Financial IQ. On Your World with Neil Cavuto, Robert talked about how his earlier predictions have come true and discussed the current real estate market, including explaining how he chooses where to invest.  His real estate investments follow the job market;  in other words, he buys properties where the job market is strong because workers need places to live.  He said: “We don’t have a real estate crisis, we’re having a financing crisis.” At the end of the interview, Neil Cavuto said: “Robert Kiyosaki – he has been right every step of the way.” When Robert appeared on Fox Business Network’s Happy Hour, he repeated that this is a great time to look for investment bargains. But, he cautioned, you need to be smart about it. “Financial intelligence is your greatest asset,” he said.  “Invest in your intelligence first before you go buy a stock or bond or gold or silver.” He was critical of financial “gurus” who tell people to cut up their credit cards. He pointed out that you need credit cards to function in today’s economy to rent a car, check into a hotel, purchase merchandise online, and so on. The key is to use credit cards responsibly. When people get into financial problems because of credit cards, the fault is not the credit cards, but the person using them. Read more here: What Robert Kiyosaki had to say on Fox...

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Can?t save? Blame your brain

~ By Jason Zweig (Money Magazine) — Slow and steady wins the race, but a bird in the hand is worth two in the bush. Those dueling proverbs sum up the investing mind. When you imagine choosing between making a quick buck or growing rich later, you know the right answer: Be patient and hold out for the bigger gain. But as soon as you face a real rather than an imaginary choice, the fast money seems irresistible. New discoveries in neuroscience labs are helping to explain why it’s so hard to resist the allure of instant gratification. It turns out that your brain is much more aroused by $1 today than by $1 tomorrow. And $1 six months from now barely registers. Only the promise of a much bigger reward later can fire up your brain the way an immediate score does. No wonder it’s hard to save instead of spend and, when you do save, to think long term; the average holding period for a stock, among individual and professional investors alike, is just over 11 months. And the temptation to buy dotcom stocks in 1999, energy stocks in 2005, real estate in 2006, emerging markets in 2007 or gold right now — what’s hot when it’s hot — is overpowering for many people, no matter how often they’ve been burned before. A sip now or a slurp later? Recent experiments conducted independently by three teams of researchers at leading universities have focused on the battle in the brain between now and later. Tracking people’s choices and their brain activity, one group tested whether college kids would rather have a sip of fruit juice soon or a slurp later. They also tracked how folks decided between gift certificates redeemable the same day for a small amount and those redeemable up to four weeks later for a larger amount. A second team offered people the choice between $20 immediately and an array of alternatives ranging from $20.25 six hours later to $110 six months later. And a third group measured how individuals responded to the choice between various dollar amounts today and an extra 5 percent to 30 percent up to six months later. “When our emotions are charged, we have a hard time waiting for a reward,” says Carnegie Mellon University’s George Loewenstein, one of the first study’s authors. Even the chance of getting a slightly bigger reward tomorrow doesn’t have the same stimulating effect on your brain as a gain today does. It’s all downhill from there. A gain the day after tomorrow carries even less of an emotional kick, and so on. In fact,...

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Interview Richard Laermer 2011 Trendspotting for the Next Decade

Interview with 2011 Trendspotting for the Next Decade author Richard Laermer.   Richard Laermer the author of Trendspotting and Punk Marketing joined me for an interview on My Success Gateway.  What do you get a when you put a PR guy together with a consultant and small business owner? A lot of talking and a lot of fun. Richard and I cover a lot of ground in this call but the main thrust of it is his 2008 release of 2011 Trendspotting for the Next Decade. Richard owns a PR Agency in New York City. He knows how to use words. He uses words to craft his messages and sometimes his messages are subtle and sometimes they are in your face. We cover what is right with the media and what is wrong with the media and how people use the media and how the media uses people. The conversation helps people to use trends to their advantage and how to find these trends. Richard talks about being real in the decade where mediocrity has been the norm since the Clinton Administration. Laermer being the cynical guy he is talks about responsibility and doing more and completing everything from thoughts to projects. He has a positive outlook and is willing to assist others into the future.  This is an enjoyable chat. Share This Blog more…. BlogPulse Technorati Cosmos Sphere It Excerpted from:Interview Richard Laermer 2011 Trendspotting for the Next...

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Financial Learning Curve: Overcoming Frustration

The first step to taking control of and improving our finances is education. For many people, this involves suddenly paying attention to a subject which they perceive as boring, foreign and possibly intimidating. Most people begin by trying to wade through the financial section of the daily paper and/or going to the library and taking out books on finances. While this ‘plunge in’ approach to learning can be a great way to start, because it is so intense it can often be daunting, and cause people to feel overwhelmed and give up. Fear not, as these feelings are normal, and things actually WILL get better and more clear. In fact, the more you learn about the financial world, the more FUN you will have dealing with your finances. As with anything you feel you are good at, what now seems like a chore will become a pleasure, especially as you begin to see the results of your efforts. Below are some of the more common feelings which accompany a woman/person starting out on the journey to financial knowledge and empowerment. Read them and take heart knowing that you are not alone; far from it. Many women have blazed this path before you, and many more are travelling it along with you, feeling the same frustrations and overcoming similar challenges. Embarassment/intimidation: ‘I don’t know much about finances, but I don’t want anyone else to know.’ We pretend we know and we don’t ask questions. After all, it’s easier to be ignorant with no one knowing (maybe they’ll think we know) than to admit we don’t have the answers. We may not even have the brightest of questions. SO WHAT? Asking questions is how we learn, and life is short. If we always take the long way in our learning – struggling through books and articles full of terms we don’t understand – then it will take us far longer than necessary. A few questions asked can make a huge difference in your understanding. Swallow your pride and remember that you’re doing this for YOURSELF. Your financial freedom awaits, and the fastest way to get there is to learn faster and put your money to work sooner. No other person’s opinion is more important than that. Frustration/demotivation: You are extremely motivated to improve your financial future and you dive right in. You read the financials every day and they begin to seem somewhat familiar. Somewhere along the line, you begin to care less, to let things slide. You skip a day or two, and you begin to ask yourself why you’re really bothering anyway – can this really make that much...

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