Robert Kiyosaki Blog

Financial Education Portal inspired by Robert Kiyosaki


Financial Freedom is Achieved Through Passive Income

I am still reading Kim Kiyosaki’s Rich Woman and in the true Kiyosaki style she offers some incredible common sense “objection handling” to the common issues thrown up when it comes to why so few women have succeeded in obtaining financial independence either within a relationship or on their own. 1. I don’t have the time. 2. I am not smart enough. 3. I haven’t got the money. Now as a mother myself, I can fully relate to the time factor involved with bringing up children, however I take on board Kim Kiyosaki’s viewpoint that if my life depended upon finding the time, I’d have found it somehow. I concur with the viewpoint that men are not born smarter than women when it comes to finances, in fact biologically women are better equipped for investing than men. ( Kim goes on to show this .) I began studying investing over 12 years ago, when on regular trips to the USA & Canada I was amazed at the extent of personal finance books, business and self help books available everywhere compared to the extremely limited selection in the UK. ( So I bought several on every trip & changed my course.) I have been guilty of waiting to hit the big deal, then start investing, and with money to invest too much too soon without first practising, I have set myself a small challenge this week of finding an asset ( something that pays me a positive cashflow ) this week for around £100. I am a massive believer in learn by doing, I have come through all the money management levels required in order to be free to invest in passive income so I will research what is available and do my due diligence. If you ever come across the chance to play the Cashflow 101 game by Robert Kiyosaki then jump at the chance, you play the part of a Rat, trying to get out of the Rat Race. You collect your “Monthly Cashflow” payment and decide which small deals provide you with a positive Cashflow, when to convert those samll deals to capital gains to clear liabilities and when to purchase a big deal. The object of the game ( and is highlighted throughout Kim Kiyosaki’s book ) is Financial Freedom is achieved when your Passive Income pays for your Total Expenses. Source: Read more here: Financial Freedom is Achieved Through Passive...

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5 tips on how not to be misled by your advisor

Mis-selling and poor advice continue to plague the domain of investment and insurance products. To make matters worse, a section of advisors/agents vociferously claims that the aforementioned don’t exist; others choose to justify the same by shifting the onus onto investors. Such trivialities notwithstanding, the ground reality is that mis-selling and poor advice are ‘clear and present’ menaces that investors routinely encounter. Typically, by the time an investor realises that he has become a victim of mis-selling/poor advice, the damage has already been done. We thought it would be interesting to come up with a checklist of warning signals that can caution an investor of an impending investment/insurance disaster. Now, we aren’t claiming that this list is an exhaustive one. Perhaps, it wouldn’t be possible to create an exhaustive list, given the numerous instances of poor advice rendered and the innovative mis-selling techniques deployed. But this can serve as a starting point for sure. So here goes. It’s time for you to be cautious if your advisor 1. Only peddles forms and fails to offer advice If your advisor is the kind who only approaches you for getting you invested in various avenues and offering advice doesn’t feature in his scheme of things, then there is a cause for concern. An advisor’s primary responsibility is to offer advice. He is the one who should help you translate your investment objectives into monetary terms, lay out plans to help you achieve the same and get you invested in line with those plans. The advisor is also required to periodically review your plans and incorporate changes therein, if required. While offering prompt and reliable service is important, offering accurate and unbiased advice is certainly an advisor’s core responsibility. And dealing with an advisor who doesn’t make the grade on the latter, could spell trouble for you. 2. Frequently churns your portfolio Churning the portfolio is a term that investors in the mutual funds segment should be able to easily identify with. It means frequently buying and selling funds, especially of the equity variety. You can be sure that you are at the receiving end if most of this buying and selling is in NFOs (new fund offers). Equity investing is essentially about investing for the long-term and if the advisor’s recommendations were correct in the first place, there should be little need for a churn. So an advisor who frequently churns your portfolio is either incompetent or has an ulterior motive i.e. to make more money by getting you regularly invested in NFOs. For the uninitiated, NFOs fetch higher commissions vis-a-vis investments in existing funds, thereby making them more popular among...

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Robert Kiyosaki with Tom Chenault?s Radio Show

Tom Chenault invited Robert Kiyosaki (Rich Dad, Poor Dad) on his radio show talking about network marketing. Robert Kiyosaki talks MLM from the April 12 Home Based Business Radio Show Slow Internet (dial-up): Fast Internet(DSL/Cable): See original here: Robert Kiyosaki with Tom Chenault?s Radio...

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Using credit card? 7 points to note

Technically speaking, a credit card is an unsecured loan. This means that unlike a secured loan, which is advanced by a bank/financial institution against a security like property for instance, a credit card is offered without any security.  Not surprisingly, many of the negatives that get written about credit cards are related to expenses, hidden or otherwise, that the user did not know (or was not informed) at the time of opting for the card. To avoid distress at a later date, we have listed down some points that you must note while using the card:  1. Term and conditions How many times have you read this before – read the terms and conditions carefully before signing up for anything. For every product you purchase or service you opt for, always read the terms and conditions and that includes credit cards. If you find anything in the terms and conditions of the credit card that was not conveyed to you or is contrary to what was conveyed to you, then seek a clarification from the bank. If you are not satisfied with the clarification, dump the card. It’s important that you read up on the terms and conditions before you use the card and not after. Once you use the card, it is assumed that you have read the terms and conditions and have accepted the same. 2. Annual fees It is common for banks to waive off the annual fees/membership fees in the first year (cards are usually issued for at least two years). The second year fees are usually charged. It is possible that you are promised that the second year’s fees will be waived off as well. The only way to find out is to check with the bank in the second year. It is possible that the bank may waive off the fees based on your track record of making timely payments. If the bank does not waive off the fees in the second year, you can cancel the card. However, if you wish to cancel the card in the second year ensure you do so before using it, because using the card indicates that you have agreed to pay the fees/charges for the second year’s subscription. 3. Lifetime free cards Offering ‘lifetime free credit cards’ is a relatively new trend in the credit card industry. While there was a time when most banks charged annual fees on their credit cards, the industry is graduating to a level where annual fees are being phased out. In effect, clients are being given lifetime free cards i.e. no annual fees are charged. However, its best to double-check...

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Choosing a Mentor

~ Jerome Ratliff~ Having a mentor a part of your business or you, can accelerate your profession into overdrive. When working with a mentor, you create a professional relationship which allows you to become a better professional. But finding your mentor, regardless who it is, is not an easy task. Where should you start looking for your mentor? Put together a plan of how you intend to find your ideal mentor. Decide at that moment that you will not quit before you find him/her. What’s your objective? What do you need a mentor for? Why do you need a mentor now? These are questions you must ask yourself prior to meeting with a mentor. In addition, make sure to have your string of interview questions ready for the mentor. This will be how you determine who is right for you. Start by asking around. See what other successful professionals are doing and ask questions. What do you got to lose? Be up front in the interview by letting them know what you would like to accomplish by having a mentor. This will help determine if the mentor is right for you. If you’re impressed with them, ask for a referral to speak with the mentor. Look for organizations that offer mentoring programs. It may cost you, but at the same time it will be well worth your money. That’s assuming that you chose the right mentor too. Two years ago when I began with Robert Kiyosaki’s mentoring program, I failed to ask a lot of the upfront questions that I’ve outline here before you. Luckily for me, since Robert Kiyosaki’s program is so structured, it didn’t matter. However, it could have helped me by showing that I was proactive. You may come up with your own questions, just be sure that you are thorough and show that you are determined to succeed. A good mentor will hold you accountable for what you need to be doing as a professional. This is important because you are the one in charge, not the mentor. The mentor is there to help you kick it into gear. Being a part of Robert Kiyosaki’s mentoring program has changed my life immensely, that I decided to mentor others. So, if you’re serious about choosing a mentor, then start today and start now. You won’t regret it. View original post here: Choosing a...

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Robert Kiyosaki interview on WNBC

Robert Kiyosaki came out with a new book caled How to Increase Your Financial IQ. He went on WNBC recently to give some practical money-saving tips in support of his new book’s launch.   See original here: Robert Kiyosaki interview on...

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Size does matters

Growing your business comes down to basic multiplication–just make sure you add in the human factor. Robert Kiyosaki  –  Entrepreneur Magazine – April 2008 One of the biggest dilemmas you will face after you get your business up and running is the decision to either grow or stay small. Obviously, most entrepreneurs opt to keep their businesses small because it’s much easier to control and manage a small business. And that’s because growth requires people. As my rich dad often said, “Business would be easy if not for people.” If you choose to grow your business, being able to lead and manage people is one of the most important skills you can possess. As the number of people grows, the number of relationships grows–and grows exponentially once you have four people in the business. For example, a one-person business has zero relationships; add a second person, and the relationship dynamic kicks in. Add another person: three people and three relationships. But look what happens with the fourth person: four people and six relationships. Visualize each person as a dot, and draw a connecting line between each of the dots. You’ll see that with four people, you’ll have six connecting lines. Take it a few steps further and do the math: Seven people equals 21 relationships; 100 people means 4,950 relationships! Many businesses grow by adding employees, then contract because they fail to grow internal communications systems and procedures. Instead of employees working together as a team to serve their customers, the exponential number of relationships causes internal chaos. One of the problems with exponential growth of relationships is that it requires managers and leaders with exceptional people skills. But many entrepreneurs make the mistake of hiring team members that have great technical skills but lack equally great people, communication and leadership skills. A few years ago, I brought on a brilliant attorney who was great at practicing law but absolutely horrible when it came to working with people. It was soon obvious to me that this attorney should only be in a windowless, one-person office and kept far away from contact with any other living creature. It took nearly a year to repair the damage this single brilliant technician did in just four months. Before adding employees, you must honestly answer the following questions: How are my/their leadership skills? How are my/their organizational skills? How are my/their people skills? Then it all comes back to the age-old question: “How do you find great people?” To answer this, I turn to my good friend Donald Trump, who says, “Set the example and you will be a magnet for the right people.”...

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The 4 money symbols

I am by no means an expert on money or business. Recently I talked about reading ‘Rich Dad, Poor Dad’’ by Robert Kiyosaki. It really did have an impact on me and I’ve been thinking about how to use my dispensable income wisely. I thought of the ways money flow in and out of my life. As well as saving, which I can’t really afford to right now, I thought of four others. Two are positive and two are negative. Two are extreme and can make or break you. The other two aren’t as drastic. + Plus is money that comes into our lives through selling something we already have. What we are really selling are valuable assets which are more valuable than we realize. The main one is time which is extremely valuable but we usually sell it quite cheaply. In my case this involves labouring on a building site for minimum wage while I could be at home using my time to start a business. Another example is a skill such as a builder building a house for money. While you are getting paid, like time you have to actually show up and produce every time in order to receive your money. – Once we get our money we usually spend it. Subtraction is money going out of our lives in small steps. These are usually essentials such as food but can include things we waste our money on such as a new TV or a restaurant meal. ÷ Division is when we use money to buy something but it also takes money away from us on a regular basis in the form of bills, maintenance or credit. Kiyosaki calls this a ‘liability’ which includes a car, a house, sky/cable TV and addictions such as smoking. Liabilities can easily lead to debt. ×Multiplication’s are the best things you can seek. These are ‘assets’ and when you buy them they keep giving you more money. This is how the rich get rich and they use money from their assets to buy more assets. According to Kiyosaki when you have enough assets then you can buy liabilities and luxuries. I suppose it’s easier said than done and I have yet to buy any assets. At least I now know what to look for and I’m a bit more conscious with my money. ~~ ~~ View original post here: The 4 money...

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‘Rich Dad’ offers help to emerging companies

~ Sunday Business Post ~  Keith Cunningham lost his entire $300 million fortune at 40 and then made it all back. Now, he’s giving lessons in ‘wealth mastery’, writes Niamh Hooper. Half of all businesses started today will not last beyond two years, and 80 per cent will not last beyond five years. As we face into an economic downturn, thousands of Irish businesses are digesting these statistics and are looking for help. Some turn to American entrepreneur, author and businessman Keith Cunningham for tips on ‘‘wealth mastery’’. Regarded as a world authority on business turnaround, Cunningham claims to be the ‘Rich Dad’ in the international Rich Dad, Poor Dad book series that has sold over 26 million copies worldwide. In the four years since the first book was published, it has proved to be the most popular book series in Ireland on ‘getting money to work for you, rather than you working for money’. Nice concept. But in Cunningham’s company, it’s more than a concept. In an interview with The Sunday Business Post before giving his Igniting Your Business seminar to a sell-out audience of 550 people in Dublin, Cunningham said success was determined by one thing. Commitment to mastery. The 57-year-old straight-talking Texan’s story is an inspiring one. Having started out in business at 11 with his own profitable door-to-door egg delivery service, he went on to create a $300 million business in Cable TV and real estate. By 40, he had lost it all. His money, his wife, his kids – everything. ‘‘I got cocky, I think pride was my downfall, I got complacent.” He declared personal bankruptcy in 1991 and took an 18-month sabbatical. ‘‘On my ‘think time’, I studied all the world’s religions, all the ‘ologys’, read 180 books and attended many seminars. I began re-evaluating who I am, what I stand for and what my life is about. I had stopped learning, stopped growing. I re-emerged with a commitment to mastery. ‘‘The most powerful thought for most people is that hell on earth would be to meet the person you could have been.” During his time off, he met and mentored Robert Kiyosaki, providing the business information in the Rich Dad, Poor Dad books. ‘‘I got him interested in business and he got me interested in teaching,” he said. Within three years of his return, Cunningham had rebuilt his net worth. In recent years, he has mentored thousands of successful business people, sharing with them his mistakes and learnings of the past 35 years in business. He has also written the book Keys to the Vault. The concept of mastery – ‘‘what you...

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Robert Kiyosaki on ABC News

Robert Kiyosaki appeared on ABC New in April to teach audience how to get smart with their Money. Click on the image below to launch the video:     Go here to read the rest: Robert Kiyosaki on ABC...

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