Robert Kiyosaki Blog

Financial Education Portal inspired by Robert Kiyosaki

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Gold and Silver Crash What s Happening

Gold and Silver Crash What s...

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Rippln Interview with Jonathan Budd – May 12, 2013

http://www.rippln.by/get-started/ Featuring Jonathan Budd together with Mark Hoverson – Discussing social connectivity and social media engagement with the social graph. This Is Your Chance To Get In On The Ground Floor Of This Exploding Industry! Mobile​ – Apps​ – Gamification (mobile game add ons) Each of these 3 industries (Mobile, Apps, and Gamification) are huge growth sectors that are sucking up hundreds of millions of dollars in Venture Capital. In the next 12 months, you can expect to hear of hundreds of new tech start ups, many more acquisitions and overnight billionaires who turn their ideas into global phenomenons and making hundreds of millions more in profits. Has Any Of That Profit Ever Landed In Your Pocket? We Are About To Change All That! Oh, did I tell you that the App is 100% FREE. Hence this opportunity will go viral in no time at all…Join before the masses find out! For More Information, or to get a private invite, please send me a message with your First & Last Name, your Email Address and Mobile-Cell Phone...

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Mike Maloney: The Greatest Bubble in History Is at Our Doorstep

By Jeff Clark, BIG GOLD It may not feel like it after a 12% correction in the past 30 days, but Mike Maloney founder ofGoldSilver.com is convinced that were in a gold bull market that will be life changing for those who participate. I interviewed him for our current edition ofBIG GOLDand am sharing some of what we talked about here. You may be shocked at what you read, because hes devoted a larger allocation to gold and silver than we have. See why hes convinced a bubble is ahead for precious metals, how high prices will go, and why he stores some gold overseas. Jeff Clark:For those who dont know you, why is Mike Maloney such a big believer in gold and silver? Mike Maloney:Around 1999, my mother needed help with the estate my father had left her. My sister and I interviewed a dozen financial planners and picked the one that had the most glowing recommendations and gave him control of the assets. He lost about 50% of them in the next year and a half. What Ive found is most financial planners get it wrong. Theyre always chasing yesterdays news. To be fair, there was a market crash, but with 50% of her assets gone by 2001, I ripped everything away from him, moved it to cash, and started studying the economy like crazy. I discovered that the people concerned about budget deficits and trade imbalances at that time were in the precious metals sector, the hard money advocates. All the rest of the economists and newsletter writers didnt really care. Concerns about international trade imbalances and how they were going to come back to bite us one day were coming from the hard money analysts. They also wrote about monetary history, something I just fell in love with. The fact that things just repeat over and over again is amazing. I have hard data from 1918 to today, and anecdotal evidence before 1918, that shows that throughout history a society has a certain amount of real money gold and silver. Then they either come out with debased coinage, or paper representations of gold and silver and expand the currency supply, which eventually cause prices to rise. People then realize there was something wrong with the currency and they rush back toward gold and silver to protect their purchasing power and in doing so, they bid up the value of the gold and silver in the country until it matches the value of the circulating medium. It appears to me this process has been going on since 407 BC, with the first great inflation...

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GOLD & SILVER OUTSIDE THE MATRIX – Mike Maloney & David Morgan In Las Vegas

This video features David Morgan’s thoughts on how physical gold and silver are the only asset class that exist outside the matrix of our financial system. Share & Leave your comments below! Rich Dad’s Advisors: Guide to Investing In Gold and Silver: Protect Your Financial...

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Entrepreneurship A Panacea For Job Insecurity?

By Louis Lim, Business Correspondent In view of the current economic difficulties facing many, people ought to be more ware of whats happening in the world and how whats happening can adversely affect their financial securities and lives; if it has not done so already! It is not a well known secret that one can avoid being a financial casualty by simply acquiring a set of skills different from what we are usually programmed from young to have. The latter has to do with being enslaved to a job or business controlled by others; the other being about having skills to generate an income independent of any circumstance or other people. Anyone depending solely on a job for a living would be almost completely lost if he loses his job. The unfortunate fact is that since the Multi-Nationals Companies began institutionalizing the treatment of employees as just another business resource, albeit commodity, the age of life-long employment seizes. Financial results associated with satisfying shareholders expectations became the main reason for a business enterprise. Coupled with the practice of achieving short term objectives and the need to maintain share prices, retrenching workers became a normal business practice. Words like downsizing and business rationalizing became common business parlance. This dehumanizing of business enterprises, prevalent throughout 18th and 19th century industrializing Britain was revived and practice by American businesses. The new reality in a capitalist environment anywhere means a worker is subject to his job being taken away any day. More importantly, this means also that the individual worker must realize quickly the insecurity of a job. What then is a worker to do to secure himself? Off course there are skills like being a doctor or dentist and others which are not down sizable. However, most workers are dispensable! Men are, however, born with an innate creativity which can be described as entrepreneurial but this has historically been replaced by skills which are intended for us to work for someone else. The result is that only the top five per cent or so of employees can acquire financially independence (with high salaries) while the rest remained dependent and vulnerable all their lives. To acquire these forgotten skills would require a change in mindset from one of being a worker (a workers mindset) to that of being a boss (an entrepreneurial mindset). The latter entails having a Possibilities Mindset which would enable one to know how to garner resources and knowledge and, to apply them to secure ones own financial objectives. Henry Ford, the car genius, once said that money is not a mans security; he is his own security. What he...

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Dont Blow Off These Four Year-End Money Must-Dos

by Dayana Yochim Procrastinators, rejoice! I’m not going to bombard you with an all-inclusive list of year-end financial housekeeping chores. Instead, I’m going to present the absolute must-dos the four top-priority tax-related tasks that even world-class foot-draggers can’t put off. Legally, at least. Once you get rolling, you may be motivated to seek extra credit and a little more breathing room before next April. If you’re so inclined, I’ve also included some other tax-related chores that will eventually need your attention. No pressure. Just sayin’. 1. Slash next year’s out-of-pocket health-care/dependent-care expenses During open-benefits enrollment, you not only have the opportunity to tweak your health-care coverage but also to secure savings of 25% or more on all of those out-of-pocket medical and dependent-care expenses. This cost-cutting technique is possible with flexible spending accounts. FSAs come in two flavors medical and dependent-care. In a nutshell, you fund FSAs with pre-tax dollars taken out of every paycheck. When you incur expenses not covered by your health-insurance plan, or if you write a check for dependent care, then you submit a receipt and get paid back with the money you set aside. See your plan pamphlet for eligible expenses. Your must-do: Sign up. Not enrolled in your employer’s FSA program? Dude! Do it now. If you contributed $1,200 (about the national average) to a medical or dependent-care FSA and are in the 25% tax bracket, you’ll save about $420 annually, including federal and Social Security taxes paid, or $35 a month. To nail the contribution amount, use the worksheet from your plan or fiddle with the Health Expense Calculator at planforyourhealth.com. Blow-off-able (for now): Using up last year’s FSA dollars. If you already have an FSA but haven’t used up all your dollars, don’t rush off to buy extra pairs of bifocals just yet. Many plans have extended the allowable time frame to incur expenses by two and a half months, so you may not have to scramble to spend the cash you’ve already set aside. (Check with your HR folks to be sure.) And for help managing all those receipts, ask your vendor for a hand. If you buy your prescriptions at one place, ask for an annual rundown of what you’ve spent. Many drugstores can easily provide that information for you. 2. Minimize next April’s tax tab Time and money are short around the holidays. But saving strategically to minimize your April tax hit is the best gift you can give yourself. Right now, see whether you’re on schedule to max out your employer-sponsored retirement plan. Contribution limits this year are $16,500; if you’re 50 or older,...

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Fear of Success

Many people dont realize that they have a fear of success. For the longest, I thought to myself: Why would I fear success when success is my most desirable goal? What kind of crazy person has a fear of success? There are plenty of people who have a fear of success. I didnt realize that I had issues with this until I noticed that there were certain things that I wouldnt do and I couldnt figure out why. What was/is holding me back? Sometimes people fear success because they dont know if they can live up to their achievements. Self-sabotaging behavior will usually occur when we have this problem. It can be defined as procrastination, a lack of motivation, etc. How do you know you have a fear of success or self-sabotage issues? Sometimes we will look at someone as being lazy when they have a problem with a fear of success. They will talk about the many things that they want to do with their life. They may have planned everything out and started on their journey, but instead of doing something about it they waste time surfing the net, watching TV or whatever else they can find to waste time. Being all talk-no action is a major problem that must be resolved. Not trying and focusing on the negative is self-sabotaging behavior. This also leads to a fear of failure which is a major topic for another article. Procrastinating and wasting time on activities that dont help you achieve your goals is also a sign of self-sabotage. Its very easy to stay busy with life, but if you dont recognize this issue, life will pass you by. All means of self-sabotage provides an excuse for you if you dont live up to your own expectations. Instead of facing the fear that we may not be good enough, smart enough, etc.we can blame it on something minor like a lack of time. In order to correct an issue, we need to recognize that the issue exists. How do we overcome a fear of success? Figure out why you have a fear of success Take a look at your past experiences and how they affected your outlook on life or confidence in your own ability to succeed. Failure is your friend Dont be afraid to try something new. If you fail, learn from the experience and dont repeat the same mistakes. How many times did we fall down as a toddler before we were able to walk? Self-competition Dont beat yourself up if you havent achieved the success of your peers. Many times what we see...

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6 Financial Moves That Sound Good but Arent

For most people, each and every day involves some type of financial decision. So how do you feel about your financial decision-making skills? If you think you are making sound choices, ask yourself this: Have you weighed the consequences of your choices against their apparent benefits? In many cases, the answer is no. Let’s take a look at six common financial choices that sound like smart moves, but could leave you scratching your head wondering where you went wrong. 1. Applying for a Line of Credit Advantages: Starting a line of credit will diversify your credit sources, which is good news for your credit score. It also allows you to access funds you may need for large purchases, like buying a car, without having to scramble to arrange the funds when you decide to buy. Consequences: A line of credit is too often treated like free money. In many cases, such easy access to funds leads borrowers to rack up consumer debt for things they don’t really need. And there’s nothing free about this cash injection: borrowers have to make minimum payments on the line’s outstanding balance. In addition, a balance will limit borrowing power on other loans, such as a mortgage. 2. Withdrawing From Your 401(k) or Retirement Savings to Pay Down Debt Advantages: If you have a big debt to pay off, you may choose to either put off contributing to a retirement or savings fund, or to withdraw money from an existing fund. The upside to this is that paying down debt is a good thing, and the sooner it is paid off, the greater the savings in interest expenses for the borrower. Consequences: By withdrawing funds set aside for retirement, you are robbing yourself of the benefits of compounding. Also, pulling the money out of your savings could leave you in a very bad position should something unexpected, like a job loss, happen. The earlier you start saving, the more money you will be able to accumulate for retirement. If properly invested, money saved now is almost always better than more money saved later. 3. Choosing Only the Safest Investing Vehicles Advantages: If you invest in risk-free or nearly risk-free vehicles, the risk of losing your hard-earned cash is extremely low. This can be a viable option, especially if you are nearing retirement. Downside: However, you are again missing out on the opportunity to have your money work for you. Take into consideration your age and stage of life when deciding your risk level. Although everyone’s risk tolerance is different, generally speaking, the younger you are, the riskier you can afford to be. This is...

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What to know if your bank fails

Dozens of banks have failed this year. What do you need to know if yours is next? The number of bank failures has reached 115 since January — more than four times the total for 2008 and the most since the savings and loan crisis in 1992. And most experts expect problems caused by unpaid loans to force many more closures in the coming years, mostly among small, community-based banks. Banks are typically shut down late Friday afternoon. That gives the Federal Deposit Insurance Corp. time over the weekend to handle the shutdown, which most often involves transferring deposits to another bank that is taking over the failed institution. The first sign of failure consumers see may be a closure notice on the bank’s door. The impact of the bank failures on consumers has been minimal, but rumors about what can happen are rampant. The FDIC has also warned of dozens of scams that try to take advantage of consumers who don’t understand the process. So what do bank customers need to know, in case their bank goes under? Here are some questions and answers. Q: Why would a bank be closed by regulators? A: State or federal regulators can decide to close a bank if it is in danger of being unable to meet its obligations to depositors and others — basically, if it looks like it’s going to run out of money. Most of the banks closed in the past year have suffered because the housing crisis and the recession have led consumers and businesses to stop paying off mortgages, credit cards and other loans. Banks must set aside money to cover such losses, and they become unstable if these reserves fall. Q: How does a customer know if a bank is covered by FDIC insurance? A: Banks usually have a sign on the door with the FDIC logo, and also frequently use the logo on account statements and other correspondence. The FDIC has a tool called “Bank Find” on its Web site, http://www.fdic.gov, where a customer can enter a bank name and address to make sure it is insured. Internet-based banks are eligible for FDIC insurance, and are listed on the Web site as well. Q: What exactly does the FDIC insure? A: The FDIC covers money deposited in savings accounts, checking accounts and certificates of deposit up to $250,000. But that limit can apply to the same person in several different ownership categories, like single, joint, held-in-trust and retirement accounts. So, for example, if a woman has two savings accounts totaling $200,000 in her own name, plus two joint accounts that each have $100,000, plus...

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Look to your heroes in your drive toward financial freedom

Everybody has a financial hero. It might be a wealthy uncle. Perhaps it is your parents who struggled mightily but managed to keep food on the table and provide for their family. We all have that person or persons we look up to when we think of wealth or money management. Here are a few of my financial heroes. My top financial heroes are my parents. They raised six boys while starting a company and managed to avoid going broke. It took a great deal of ingenuity and effort to win financially. We raised nearly two acres of gardens to feed the family. At the height of the summer vegetable production, we would can more than 100 quarts of green beans and freeze more than 200 bags of sweet corn in a single day. My dad took chances. Some worked out, and others did not. Yet we all learned from the less-successful attempts. Another financial hero is Dave Ramsey. Dave went bankrupt nearly 20 years ago and learned several key lessons as he walked out of his financial mess. He became so passionate about teaching others about these lessons that he wrote a book about it called Financial Peace. The message connected with so many people that he has now written several N.Y. Times bestsellers, has a TV show on Fox News and a radio show with millions of listeners. Dave was instrumental in being the catalyst for Jenn and I to pursue debt freedom. Bank Ladys Dad is another financial hero. I was sitting in a bank one day waiting to speak to a personal banker, and there was quite a line waiting for the teller. A very old lady came in and was chatting with everyone. I heard her ask someone where they were from. She said, Kenya. The old lady said, Well, Ken Ya help me? Ha. Ha. Ha! She immediately followed that lovely joke with this statement, Seriously, though. Ive been there, and proceeded to tell the story of how her father loaded the family on a boat when she was just 12 years old and took them on a trip around the world for nine months. Her father is one of my financial heroes; he left a legacy that had his little 12-year-old still talking about it at least 70 years later. I have many other financial heroes. Most of them have written books. David Chilton, author of The Wealthy Barber, heavily impacted me when I was 12. The book was written about how compound interest can seriously help me fund my dreams. Robert Kiyosaki, author of several books including my favorite, The Cash...

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