Robert Kiyosaki is many things; an author of self-help books, an investor, a business man, as well as a motivational speaker. Without doubting though, Robert Kiyosaki is known best as the bestselling author of a series titled Rich Dad, Poor Dad . Robert Kiyosaki has become one of the leading voices in educating people in the area of developing their own personal finances. With twenty-six books in the Rich Dad series, Robert Kiyosaki has sold more than twenty-seven million books worldwide. His works have been translated in fifty-one different languages for markets in a hundred-and-one various countries across the world, eventually leading him to countless bestsellers lists across Asia, Australia, Europe, Mexico, and South America.

Robert Kiyosaki’s first book Rich Dad, Poor Dad was a sensational hit from the get go and has been on the New York Times best sellers list for six years as of November 2007. The sequel to Rich Dad, Poor Dad, Rich Dad’s Cashflow Quadrant also landed on New York Times best sellers as did a third book titled Rich Dad’s Guide to Investing. These three books were concurrently on top ten bestsellers for The Wall Street Journal, Business Week, USA Today, and The New York Times, which all just happen to report to Publisher’s Weekly. In reviewing publications of 2005, Publisher’s Weekly applauded Robert Kiyosaki and Rich Dad, Poor Dad for performing way beyond a publisher’s expectation. Robert Kiyosaki was also inducted in Amazon.com’s Hall of Fame in 2005, coming in the top twenty-five, at number twenty-three, just edging out the likes of such literary geniuses such as Tom Clancy and William Shakespeare (!). With all these accomplishments Robert Kiyosaki has become one of the most successful writers of motivational books of a financial nature.

The purpose and mission of Robert Kiyosaki is aimed to help people achieve economic success and stability. Robert Kiyosaki has a certain style in motivating, and his attitude towards money is defiant and pro-active. These values have found its way into his many books of the Rich Dad, Poor Dad series, and in their deliverance has helped many people understand how to make money work for them. Applying these learnt skills, which develops into financial literacy, and as Robert Kiyosaki believes, will create an understanding of how to use money in the real world. Concepts and attitudes, along with definitions of words such as wealth and assets, determines how somebody handles money, and the way Robert Kiyosaki understands it, if somebody has the right attitude and defines such key words properly than anyone will be on the right track in achieving financial success. Robert Kiyosaki stresses this point severely because he believes that if people learn how money works through various processes such as accounting, law, etc, people will have the right idea of how all money in the world is earned and spent. Robert Kiyosaki reinforces these ideas in a series of board game he has called Cashflow which has for its main theme things concerned with how all money in the world is made, created, spent, and accumulated.

If people would learn these skills they would understand how money works in the real world and would avoid falling into debt at an early stage in life. Furthermore, Robert Kiyosaki argues that the way people define such words as wealth and assets relates to how these people achieve financial security. Robert Kiyosaki believes that people think of assets as things like big screen televisions, cars, and homes when really they are liabilities, expenses that eat into your income and in turn do not make any money. Robert Kiyosaki’s definition of assets is that assets are things that earn money, that generate income, and put money into your pocket, and not expensive, luxury, or material goods. So naturally Robert Kiyosaki believes that learning these skills a young age will go along way in developing an attitude that will make you smart about money and achieve wealth.

Robert Kiyosaki has teamed up with Sharon Lechter in the writing of the Rich Dad, Poor Dad books, and his wife Kim Kiyosaki in the Rich Dad, Poor Dad Corporation. All three of them, Robert Kiyosaki, Kim Kiyosaki, and Sharon Lechter are co-founders of the Rich Dad, Poor Dad Corporation. Mrs. Kiyosaki has developed her own line of Rich Women, Poor Women which expresses many of the exact same views of Robert Kiyosaki’s Rich Dad, Poor Dad but in a different way, directed towards a different audience. Much of the success of the Rich Dad, Poor Dad Corporation is based on the reinforcement of financial principles, thus the Rich Dad, Poor Dad Corporation concepts and attitudes towards money are all expressed complimentary throughout all the different product lines.  All the products mentioned up to now include all of Robert Kiyosaki’s Rich Dad, Poor Dad twenty-six books, the Rich Women, Poor Women series, and the Cashflow board games, but the Rich Dad, Poor Dad Corporation also has an series of books that are more technical in nature but are meant to be comprehended easily and to provide an advisory account of different topics, not to mention the series of audio and visual products such as tapes, CDs, and DVDs and software.

As Robert Kiyosaki and Rich Dad, Poor Dad Corporation’s main area of expertise is in the financial world, and their major talent and success is that of educating the masses, it then would not be surprising to see them on many television shows, as radio guests on different radio shows, and of course their own lectures and events. All this positive exposure to the products of the Rich Dad, Poor Dad Corporation has lead to a vast subculture, a community of likeminded people sharing the same dream of financial success and security, and who are all willing to take the necessary actions to begin their pursuit. So it should be of no shock that Robert Kiyosaki teamed up with one of the most famous and successful real estate tycoons, Donald Trump in 2007 to co-write a book titled, Why We Want You To Be Rich , which tackles questions and fears that are arising in this time of economic uncertainty. With this community of followers, of believers in Robert Kiyosaki’s financial philosophies, than it should be of no surprise that Robert Kiyosaki will continue to be a source of inspiration in the pursuit of financial freedom for years to come.

Matt Ridley: When ideas have sex | Video on TED.com
I think this really shows, without directly addressing it, that mastermind groups, Cashflow games and networking really advances us and what we done. Live in a vacuum at your peril!

Enjoy!

Read the rest here:
Matt Ridley: When ideas have sex | Video on TED.com

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~ Robert Kiyosaki ~

On the cover of the October 19, 2009 issue of “Time” magazine ran this headline: “Why It’s Time to Retire the 401(k).” The cover picture was ominous, showing a 401(k) sinking like the Titanic.

I recommend reading this entire article, especially if you do have a 401(k). My concern is that the flaws of this retirement plan will grow into personal tragedies as the first of approximately 75 million baby boomers retire, leading to the biggest stock market crash in history.

But in spite of the apparent problems with the 401(k) plan, the darlings of financial media continue to tout its benefits. The same month “Time” ran its article, “More” magazine’s financial guru, Jean Chatzky, wrote an article about using low-interest savings to pay off high-interest credit cards. In the article she states, “There’s no better guaranteed return on your money (except, perhaps, a 401(k) match).”

Countering Jean’s wisdom of “no better guaranteed return,” the “Time” article stated, “At the end of 1998, the average 401(k) balance was $47,004. By the end of 2008, the average balance was down to $45,519.” If that is a great guaranteed return, I’m glad I don’t have a 401(k). The “Time” article pointed out that $100 in 1998, after inflation, was worth about $73 in 2008, a loss of $27 after ten years. So whom do you believe…”Time” or “More” magazine?

If you are unsure as to whom (and what) to believe, the “Time” article made two more statements worth considering. They are:

1. “The older you are the riskier a 401(k) gets.”

2. “Forty-four percent of all Americans are in danger of going broke in their post-work years.”

Now, I can hear some of you saying, “But the stock market is going back up. Green shoots are appearing. Everything is fine. The crash was just a correction.” For those optimists among you: I wish that all of your dreams come true and you live happily ever after.

I do not criticize the 401(k) plans just to criticize. I write because I am concerned. Let’s say “Time” magazine’s estimates are correct. Let’s say 44 percent of all Americans will go bankrupt after retirement. For approximately 75 million baby-boomers preparing to retire, that means 33.8 million of them will go bust once they stop working. To me, this is disturbing.

While many think the financial crisis is over, I believe the worst is yet to come. In spite of the green shoots in the stock market, the fundamentals of the U.S. government are worsening. I doubt Social Security can afford the avalanche of retiring baby boomers. The Social Security fund is empty, underfunded by approximately $10 trillion. For the first time in 35 years, Social Security will not pay a cost of living increase. And Medicare is projected to face a shortfall as well, of between $65 and $85 trillion.

In 2009, interest payments on our national debt are about $380 billion, which is $1 billion a day in interest. At the same time, the national debt is projected to climb to $20 trillion by 2012, which means the U.S. will have to borrow money just to make the interest payments.

I know the Federal Reserve Bank can continue to print more and more money…but city and state governments cannot. This means your city and state taxes will have to go up. If you think your property taxes are high now, just wait five years. I predict that, even if your home’s value does not go up, property tax rates will, and higher taxes will do wonders for property values. This means people counting on their home as their biggest asset may be disappointed.

In 1913, when the Fed was created, and in 1971, when President Richard Nixon took the U.S. off the gold standard, the ultra rich were allowed to siphon off our wealth — via our own money, the very thing we work hard for and do our best to save. In other words, with every dollar the Fed prints, our wealth is being drained via increased taxes, debt, inflation, and savings.

A Cash Heist

There are four expenses that keep the poor and middle class struggling financially. They are:

1. Taxes — both apparent and hidden

2. Debt — mortgages, credit cards, and student loans.

3. Inflation — rising food and fuel costs

4. Retirement plans — 401(k) and savings

It is via these four expenses that the rich get richer. In other words, all four of these expenses are a cash heists, the ways the rich use the government to get into our pockets, draining us of our wealth.

The Silver Lining

The silver lining of all this: With a more sophisticated financial education, rather than have taxes, debt, inflation, and retirement accounts as drains on a person’s wealth, a person can convert those government-sponsored expenses into elements that work in one’s favor. By using the same rules of money the rich use, those four expenses will make you richer. In other words, taxes, debt, inflation, and not needing a retirement plan can make you richer if you use different rules of money. As stated earlier, in 1971 Nixon changed the rules – and so should you.

In closing, the 401(k) has a few good points…but not good enough, in my opinion, given the financial challenges that lie ahead.

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A HELOC, or a home equity line of credit, is set up to have a maximum draw limit rather than just a set dollar amount in the form of a lump sum like a home equity loan. Similar to a home equity loan, a home equity line uses your home as security.

This line of credit is set up to a certain amount decided between you and your lender (generally 80% of the market value on the home in question minus any fees currently owed upon it) that can be drawn out in a set amount of time. A HELOC, in simple terms, is a recommended alternative to a home equity loan for those with ongoing projects.

So, you are in desperate need of cash, got projects to fund, mouths to feed, bills to pay, and so you decide to drop by the bank and get a loan. First option you are presented with when offering your home as collateral is whether to go with a home equity loan or a HELOC, or simply a home equity line.

In most cases a HELOC will probably be your better choice, simply because when you need the cash, you have it, and when you don’t, don’t worry about it. Sounds simple enough, and for those in need, a HELOC is a welcome alternative to many other loan choices because you won’t have a lot of money just sitting around that you have to pay interest on.

The easiest way to describe how a HELOC is a superior loan alternative is safety. With a HELOC you obtain safety in both terms of being more likely to handle your payments as well as safety from yourself. When the money isn’t just dumped into your pocket all at once you are less likely to waste it and end up in trouble.

A HELOC generally has low settlement cost rates (on a $150,000 line of credit it would be around $1000 compared to $2500-5000 for a home equity loan of the same amount). While other fees associated with a HELOC tend to be more expensive, overall a HELOC doesn’t cost that much more that a standard home equity loan.

In addition, the idea of saving you from, well, you, plays an important role as well. If you just receive all the money up front and it’s just sitting there, you are going to be tempted to spend it on things you don’t need. Obviously this situation can come back to hurt you.

However, in a HELOC, since the money isn’t just sitting in the bank but is rather drawn out when you need it, you will be less tempted to spend it and you also will not have to pay interest on money you do not use.

Disadvantages of a HELOC

The main disadvantage to a HELOC is that people are likely to try to go for long term repayment. Although the monthly payments can be held in check in long term repayments, what ends up happening is that the item purchased with the loan doesn’t last nearly as long as the repayment schedule.

In essence, you will be paying for something you no longer have. Similar to a home equity loan, a HELOC also puts you in danger of losing your home. If the payments can’t be met then serious problems arise.

A HELOC is also available to people with bad credit, and can even be used to improve credit as long as payments are made on time. Since the security is a home and the line of credit given out is usually less than the value of the home, lenders have little risk offering these types of loans to everybody.

We hope we have shed a little light on the world of home equity for you here. Hopefully after reading this article you will be better prepared on how to handle your money problems.

Just keep in mind that whenever getting a loan with something as valuable as your home as collateral to be careful, be smart, and always take the time to shop around and read the fine print.

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