Robert Kiyosaki Blog

Financial Education Portal inspired by Robert Kiyosaki

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Free money from stimulus? Are you kidding?

Have you heard? The government is giving away free money! It’s all part of the Obama stimulus package. These government grants can be used for anything: buy a car, purchase a home, start a business or pay your credit card bills. Even take a vacation. And here’s the best part – because this is a grant, you never have to repay the money. How do I know this? It’s all over the web. Just search “stimulus” or “government grants” and see what comes up. You’ll find site after site that promises to show you how to get your share of the “billions of dollars which go unclaimed each year.” Con artists are creating phony web sites with names like PresidentObamaGrants.com and FederalGovernmentGrantSolutions.com. “They’re advertising them on search engines like Google and on social networking sites like Facebook. They’re also promoting them in chat rooms,” says Susan Grant, director of consumer protection at the Consumer Federation of America. The scammers even create bogus blogs, to tout and drive traffic to their sites. I clicked on OfficialStimulusPayments.com which took me to “Jessica’s Money Blog.” Jessica, who does not give her last name, wants everyone to know how she got a $12,000 check from the government to start her own $5,000 a month business. She claims she learned how to get this free money from a site called GrantsForYou.com and she urges readers to get their share of the loot. “Don’t fall for it,” warns Eileen Harrington, acting director of the Federal Trade Commission’s Bureau of Consumer Protection. “There is no money in the stimulus package to send out individual checks to people.” The Grant University gets a failing grade The Better Business Bureau has received hundreds of complaints from people across the country who took the bait. Instead of a grant, these victims got unexpected charges on their credit or debit card accounts. In the past year, about 350 people complained to the BBB about a web site called The Grant University run by a company located in Draper, Utah. Tracie Oberlies is one of them. “I think they’re scam artists,” she says. Oberlies wanted to buy a small farm in her hometown of Lugoff, S.C. She hoped the Grant University would help her get the money. The web site offers a 7-day trial membership for just $1.98. It gives you access to the company’s site plus a disc called “The Grant Professor.” Oberlies was unable to log on to the site, even when her disc arrived – 11 days after her order. She called the company to cancel “and they kept giving me the runaround.” They told her it was...

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Sites That Foster Good Money Skills

By Janet Bodnar It’s a challenge for adults to create a financial Web site for kids that offers age-appropriate information and is entertaining enough to hold their attention. To mark National Financial Literacy Month, I’d like to mention a few that are worth a look. For elementary-age kids. Meet the “Centsables” (www.centsables.com). They’re six super-hero friends — named, fittingly, Franklin, Jackson, Grant, Hamilton, Penny and Suzie B. — who live in Centsinnati and can “grow to gargantuan height, run like the wind, and control the elements.” And they do it all in the service of giving kids super money-management skills. Mark DiPippa, president of Norm Hill Entertainment and creator of the project, has ambitious plans to produce it as an animated TV series. For now, kids can enjoy the Centsables online in a series of games and comic books. The target audience — children ages 6 to 11 — can probably handle the activity pages and comic books on their own. Younger children may need a hand from parents to navigate the lessons, which include “How kids earn money” and “Taking stock of the market.” For middle- and high-school students. CareerForward is a free, innovative online program developed by the Michigan Department of Education, Michigan Virtual University and Microsoft’s Partners in Learning unit. The curriculum is designed to take about 20 hours to complete and may be directed by a teacher (Michigan requires all students to have at least one online learning experience before they graduate), a volunteer or an interested parent. CareerForward isn’t focused exclusively on financial education. But there’s a unit on managing money, including lessons in budgeting and a salary calculator for future jobs. What I like about the program is that it gets kids thinking about what they’d like to do beyond high school — the education and skills they’ll need to earn a living in the global workplace. And that, after all, will determine how much money they’ll have to manage and what their standard of living will be. For college students. Though not an interactive Web site per se, the “Playbook for Life” guide may be downloaded or ordered at www.playbook.thehartford.com. Originally developed by The Hartford insurance company in conjunction with the NCAA, the idea was to educate student athletes about the importance of financial planning. But the lessons are equally valuable for all college students and young adults, with sections on purchasing a house, buying (and maintaining) a car, saving for retirement, buying insurance and paying taxes. And when your kids are ready to go out on their own, there’s a lot of useful information at Kiplinger.com in the Starting Out section....

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Grandma Needs Money. Now What?

My grandmother recently, and reluctantly, asked if I could give her some money. There’s no question my wife, Amy, and I will give her the funds; she raised me and is, by and large, the woman I consider my mom. She has always been kind to Amy. If we have the discretionary cash that can make my grandmother’s life happy, shouldn’t we hand it over? Yet the request has caused us a lot of angst. Part of our concern is where this will lead. Although my grandmother isn’t asking for a lot of money — just a few hundred dollars — when you open your wallet to family members, the first time is rarely the last. We don’t want to get in the position of becoming my grandmother’s ATM. But it’s more than that. Amy and I have worked hard to earn this money, and it’s frustrating to have somebody want to tap into our account. What’s more, my grandmother will no doubt use the money for things that we’d never buy ourselves. We don’t want to feel like suckers for funding a lifestyle that we might consider indulgent. So that leads us to the question we’ve been grappling with: When providing financial assistance to a family member, is it fair to say the money comes with constraints on how it is spent? Or, is financial assistance an exercise in unconditional love? * * * Let me say it at the outset: I don’t believe children bear an obligation to their parents as a cost of having been raised by those parents. Bringing a child into the world is a parent’s choice, not the child’s. Thus, the obligations that do exist run from parent to child, not in reverse. That said, I certainly feel a desire to assist my grandmother out of a sense of love and caring. She also has always been careful with money — in terms of both spending and saving. And she and my grandfather obviously weren’t my birth parents, but they did choose to raise me. Still, loving and understanding don’t necessarily erase the questions that inevitably arise when family members seek funding. In particular: Why do you need this money? And how are you spending the money you do have? If you, the giver, don’t agree with how the person spends his or her money, do you have a right to impose your restrictions? Do you have a right to tell someone to change his or her spending habits in order to get any money from you? One of my longtime friends, who’s providing financial support for her two sisters, says no. She’s...

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Safeguard Your Money and Your Mind By Adopting a Simpler Life NOW!

Our anemic economy appears to be struggling further still.  By the end of the week, the “soft” stock market became downright cotton candy-ish, plummeting to index lows we’ve not seen in some time.  The culprit?  Well, there’s a few of them…and they remain the “usual suspects.”  On the mortgage front, we were greeted this week with the cheerful news that a record 9 percent of Americans who have mortgages are now either behind or in foreclosure; almost 1 in 10!  The jobless rate?  It is now the highest it’s been in five years.  As for oil, sure it’s come down from record prices here recently, but let’s be honest – gas at $3.65 a gallon is still irritatingly high.  In short, things are lousy. Most people will eventually exit these tough times relatively unscathed, but many will be battered and bruised nonetheless.  Still, once things return to “normal,” it will be tempting for a lot of people to resume the consumer patterns in which they’ve engaged all along, buying and buying, largely with credit, seeking as much house, car, and big-screen TV as they can possibly afford.  My advice?  Fight that temptation, taking stock of your life and of what we’re going through right now, and endeavor to give yourself the greatest gift money (or credit) can’t buy: peace of mind. Financial serenity comes about only one way: By living a simpler, less materialistic existence.  Granted, we all like a few creature comforts, but the emphasis in the lives of many has been on creature, as in possessions that tend to devour us in one way or another.  Take cars, for example.  How much car do you really need?  How big does it have to be?  How many options does it have to have?  How new does it have to be?  The reality is that cars are made so well nowadays that they’re expected to go well over 100,000 miles if properly maintained.  From a financial planning standpoint, car payments are a colossal waste of money, and yet too many view the idea of always making a car payment a fact of life.  Why?  Why not purchase a solid used car, and when it’s paid off, hang on to it for as long as possible, and investing the car payment you would be making during that time into growth mutual funds?  Look at this: If you bought a modest used car with the intention of making it last 10 years, spent three years paying it off…let’s assume a car payment of $350 per month…and then took that same $350 and invested it in a quality stock mutual fund for...

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Target… Attack… Dominate!…

From : YouTube :: Tag // moneyAuthor: cvaughnsuccess Keywords: mlm prizefighter formula network marketing market traverus travel ytb world ventures prepaid legal money cash cashflow leads traffic chris vaughn training system pro mlmleadsystempro norbert brian finale robert kiyosaki tony robbins rich dad attraction automated affiliate programs business opportunity free Added: April 20, 2009 View post:Target… Attack…...

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Game of Money – Four Quarters of Life

Life is like a game of chances. You can win or you can lose. Everyday, we are faced with challenges, which can either lead us to become a winner or a loser. Learning financial literacy is essential to increase your chances of winning the game of life. Consequently, it is best to play the cash flow game to gauge how well did you grasp the concepts in winning the game of money. Recently, I watched another video again of Robert Kiyosaki as now he talks about the so-called Game of Money where he described the four quarters of financial life dividing it into 10-year horizons and asked, “at which age will you win the game of money?” Let’s view the four quarters of life with some inputs so that we know how will we win the game of money and retire as young as we can be. 1st Quarter (25-35 years old) – By this age, you’re probably done with your college education. Most of us start our careers when we land on our first quarter of life. We want a high-paying job, buy a car, have our credit cards and enjoy life. While many of us just want to enjoy life after graduation, it is advisable for us to: Savings should be our top priority. When you receive your paycheck, take out a certain amount and deposit it in a savings account. Once you accumulated enough savings, transfer the bulk of it into a higher yielding deposit account. Compound interest will help it to earn more interest. Get Insurance. Get insurance especially if you now have family and kids to support with at this age. The higher and the healthier you are, the cheaper insurance costs will be. Learn Investment Options. Think of investment options where you can invest your extra cash. You can invest it in stocks, mutual funds, real estate, bonds, etc. Start to educate yourself financially. 2nd Quarter (35-45 years old) – By this age, you are probably at the top of your career and definitely earning much more. But this quarter may also be the time when you’re starting to have your own family so that also means higher expenses. It is advisable to: Plan for children’s future. You are now working not just for yourself but also for your children. Plan for your children’s future by getting an educational plan or open a time deposit that’s under your children’s name and deposit an amount into it regularly. Make sure you have enough for your emergency fund. Emergency fund is amount totally dedicated to emergency expenses such as health problems, etc. A good amount...

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Start Early to Retire Early

As the saying goes, “the early bird catches the worm”, one of the things that I learned in the journey towards financial freedom is to start early to retire early. The earlier we started saving money, the earlier we started our financial education, the earlier we started to invest, we can be guaranteed that we can also retire earlier. Why not? Retiring early is one of the best options of a lot of people. Who wants to work for the rest of their lives? Who wants to be bothered by lots of worries in their work? And who wants to encounter a lot of stress that their health will be put into danger? Personally, I would like to retire in the age of 40s. Recently, I wrote an article about the four quarters of life and how to win the game of money. No one wants to retire at the age of 60s because they cannot really enjoy the fruits of their labor. At that age, a lot of health problems will begin to manifest. Definitely, their savings will just be used for medicines to treat these health problems brought about by old age. As they have said, “in our youth, we spend our health to gain our wealth” but “as we get older, we spend our wealth to gain our health”. What are the things that we should start early to retire early? Learn how to save properly. The earlier we started saving, the larger our savings can be over time. Just imagine if you regularly save your income, it will accumulate over time. With the power of compound interest, our savings can be enough to lead us to the next step. Learn how to invest properly. When you already have enough savings that already covers your emergency fund, then assess yourself to the next level on where can you invest your extra savings to earn more income for you. Learn how to invest in the stock market, in the real estate, in mutual funds and trust funds, and in other investment options where you can park your extra cash. Build Passive Income. The secret of retiring early lies on building a stream of passive incomes. The earlier you started building passive income, the higher your chances to retire early. Look for opportunities along the way that will let your money work hard for you. This what makes rich gets richer. Focus on that goal. Read some articles on self motivation. Surround yourself with people with the right midset and with the same goals as yours and together you will walk the way towards a common goal helping...

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Real Estate Investing – Which Approach Is Right For You?

In his Rich Dad book series, Robert Kiyosaki trumpets the benefits of investing, especially those of real estate investing. Those include tax benefits, and the ability to have your money go to work for you without your lifting a finger. It sounds wonderful, doesn’t it? The idea that you can turn a dollar into two just by placing it in what can seem like a magical realm can seem very enticing. In order to actually turn a good idea into money in your bank account, however, you have to know a little something about how the magic works. It is a good idea, for instance, to take apart this term “real estate.” Just what is real estate, and what are the types of real estate investing that are open to you? “Real estate” is a term that refers to a piece of land and everything that sits on it, usually meaning structures. In terms of investment, its value is affected by local market conditions more than global conditions. There are several different ways to invest in real estate. Real Estate Investment Trusts (REITs) allow you to make money by investing in real estate, either by owning the properties themselves or by owning the mortgages on them, or to do a combination of both. The benefits of this type of investing are high yields and tax considerations. This is also a highly liquid type of investing, which means that it is easily converted to cash. In a real estate partnership, you are pairing with (who or what?) in order to make money from existing structures or to build new ones. You can even make money off the sheer appreciation of undeveloped land itself. This is a good bet because of high growth potential and tax benefits (shelter). The rental of vacation property is pretty self-explanatory. Your vacation property is one that is used for recreational purposes and is not your primary residence. (Define primary residence.) Rental property is another almost self-explanatory concept, as we have all done business with landlords at some point in our lives. However, there may be a difference between residential and business rental property. You may also invest in raw, or undeveloped, land. It is a good idea to learn about each type of real estate investment to determine which yields the greatest benefits, determined by your particular needs. Kiyosaki named tax benefits as a good reason to become a real estate investor. After all, money you keep in your pocket is just as good as money earned. If you are particularly interested in pursuing real estate investment because of tax benefits, you may even wish...

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Be Patriotic, Be Stingy

By: Curtis Ophoven Changing your spending habits may not be enough. It will take convincing your neighbors, extended family, employers and the government to slow down on the spending and save more money. The total US obligated debt is around 70 trillion dollars when added together, – 1.1 trillion in personal credit card debt – 9.1 trillion in federal debt – 41 trillion in entitlement debt (social security, Medicare) – 10 trillion in home equity debt – 9 trillion in corporate debt The US GDP in 2007 was as 13.5 trillion, which means our debt is 5 times our annual income.  No other nation has ever owed as much money to as many people in the history of the world. The Federal government will soon be forced to raise interest rates to compete with global investors to continue to buy US dollar based equities. If global investors stop buying US bonds, the long term interest rates will rise as investors seek higher yielding opportunities abroad. Higher interest rates will compound the declining housing market. Increase Savings An increase in US savings will help offset the millions around the world that are moving their savings to other currencies and other foreign equity markets.  The world is facing a currency crisis as the value of the dollar continues to fall against the major currencies of the world. It’s true, being stringy will push the economy into a recession because the economy is 75% consumer driven, but because we don’t manufacture products anymore, the money we are spending is leaving the country as fast as it leaves our hand.  With a $60 billion per month trade deficit, we need to increase our saving rate to support the value of the dollar and reduce the impact of the global selloff of dollars. The Politicians Are Wrong The politicians continue to tell us to spend more money in order to keep the US economy out of a recession, but spending more money is only pushing the US farther into debt. Here are a few reasons why this misguided information is being feed to the public. First of all politicians are primarily motivated to get elected and in their pursuit, they are not focused on the long term prosperity of the US economy. Second, they believe that because the US government does not have an end date, we can continue to borrow indefinitely. And third, because of the historical leadership of the economists like Allan Greenspan, they trust the economic leadership to keep the US economy afloat. The Global Economy Has Changed Things The economic leaders like Allan Greenspan were successful in the past because...

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Couples should learn investing together

Your wife clips coupons to make ends meet, while you think now is the time for you to buy that big screen TV. He said couples argue a lot about money. “When it comes to money, nobody ever agrees. And in my family, my wife calls me Imelda Marcos because I like shop and buy clothes,” says financial expert and “Rich Dad, Poor Dad” author Robert Kiyosaki. But his wife Kim likes to make money. “But we have this agreement: I can spend whatever I want as long as I make the money first. So that means, invest my money.” His example was a recent car purchase. “Like when I wanted a new Porsche, I had to go buy a piece of real estate and the piece real estate bought my Porsche for me. So my liabilities buy my assets. That’s a rule in our family. Now you may not be able to do that, but Kiyosaki said you and your mate should learn about money together by reading books and attending seminars. He said that allows you to have calm, rational discussions about your finances. “I would rather spend my time learning how to, not only make my money, but leverage my money to make more money so I don’t have to clip coupons or never do I ever have to say I can’t afford something.” Kiyosaki said most couples don’t take the time to learn all they can about money. “Most people invest money. But they don’t invest any time in education and unfortunately then couples fight. You know the number one cause of divorce is money. It damages families and all this. Yet they won’t invest anytime in going to the library and getting a book and studying it together.” Here’s how the money discussions go in Kiyosaki’s family: “My wife and I often read articles together. We go to seminars together and we talk about money like mature individuals. We don’t fight about money, but unfortunately, that’s what most people do.” Credit:Couples should learn investing...

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