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• robert kiyosaki as an ethical leader
• robert kiyosaki ethic

I have learned many lessons as a result of reading Robert Kiyosakis books.

These are just a few I would like to share with you.  But bare in mind, these principles may throw everything you may  have learned out the door.

Lesson #1: Your house is a liability, not an asset.

Lesson #2: Leverage is the reason some people are rich and others do not become rich. And most people do not become rich because they fear the power of leverage. And the most powerful leverage in the world is your MIND.

The poor and middle class have a hard time getting rich because they try to use their own money to get rich. If you want to get rich you have to learn to use others money…not your own.

Lesson #3: Good debt makes you rich, bad debt makes you poor.

Lesson #4: The choice of words you use will make you rich or poor. Words are powerful tools…tools for the brain. It does not take money to make money. “Getting rich begins with your words and words are free.”

Poor people say ‘I can’t afford it’ more often than rich people. Your words become flesh.”Poor people use poor words create poor people”.

Lesson #5: The problem with having a job is that it gets in the way of getting rich.

Lesson #6: The biggest challenge you have is to challenge your own self-doubt and your laziness. If you want to change what you are you must take on your self doubt and your laziness. It is your self doubt and laziness that deny you the life you want,”.  If you will take on your self-doubt and your laziness, you will find the door to your freedom.”

Lesson #7: It is your “Why” that gives you the power to do the how to. Instead of looking inside of themselves to find a ‘why’ they want to become rich, most people look for the easy road to wealth, and the problem with the easy road is that the easy road usually ends in a dead end.

Lesson #8: Unless someone has a passion for something, it is difficult to accomplish anything. Rich Dad used to say. “If you want something, be passionate. Passion gives energy to your life. Passion gives energy to your life.

Lesson #9: Take at least 1 hour each month to reflect on your life. Taking the time to reflect on Robert Kiyosaki life raised the following ideas.

1. What he thought was important was not that important.

2. What was important was where he was at, not where he was going.

3. There is no one more important than the person in front of you at that moment. Take that moment to be with him or her.

4. Time is precious., dont waste it…appreciate it.

5. Sometimes stopping for a moment is harder than staying busy.

Lesson #10: A high paying job without ‘Financial Education’ often means the person gets deeper in debt faster than someone with a low -paying job. That is not too intelligent.

More:
10 “Retire Young, Retire RICH” Lessons

President Barack Obama’s campaign theme was “Change.” We’ve all seen plenty of change in the past year, specifically economically and financially. Much of this change most people would label as negative. If you take into account the banking crisis, the growing numbers of people facing unemployment, the double-digit losses in so many 401(k)s and retirement plans, and the number of cities and states whose budgets are upside-down, then it does paint a pretty dismal picture.

And some—those hoping the government will save them or those who are not willing to change what isn’t working—will face a very rough road ahead. No doubt most of us will have to do many things differently, regarding our money, our investments and our businesses, in order to not only survive but to thrive in this economic climate.

That being said, and being the optimist that I am, I have to look and ask, “Where’s the upside in all of this?” And I do believe that there is not just one diamond in this rough, but there are three positive gems that could manifest out of this turmoil.

1) A Wake-up Call for the World Sometimes things have to get bad before we take action. This time in history could very well be our fi nancial and economic wake-up call. There are many pieces of this puzzle that are broken, and it will take more than a new president, new rules for Wall Street and a few crooks going to jail to fix it all.

This is undoubtedly a global problem, and it will take resources from around the world to turn this one around. I trust this is a wake-up call for our political, business and financial leaders that real and tough changes have to be made, now.

There is an even more important wake-up call for the individual, if you’re willing to tell yourself the truth. That wake-up call is this: You can no longer be clueless about your money. It is the realization that turning your money over to the so-called fi nancial experts isn’t working. It is the light bulb that goes off when you see you have an absolute need for real financial education. No more disguising a sales pitch for sound fi nancial advice. No more taking the advice from fi nancial advisors who don’t practice what they preach, who tell you what to do but don’t do it themselves. And no more allowing ourselves to be ignorant enough to blindly follow their recommendations.

Fortunately, the message is spreading. Peter Applebome, a talented journalist, recently wrote in an article for The New York Times titled, “Contemplating the Boobs We Were,” “…a yearend toast to us all—the boobs and easy marks who from time immemorial have mastered the art of buying high and selling low, investing in bubbles as transparent as an open window….”

He goes on to say, “…is there anything we can learn from this latest round of financial catastrophe?… So, here’s a revolutionary idea: Maybe it’s time we even start thinking about ways to teach [people about money].”

Applebome ends with this: “One lesson of this year is that these days, no one, not even the most fi nancially secure, can afford to be stupid.”

What a novel idea—teaching people about money. I’ll be that optimist who says that maybe this is the wake-up call to the masses really taking hold. Is the general public fi nally recognizing the vital need for true fi nancial education? That would be a breakthrough and a positive result from this economic breakdown.

Sometimes it takes a wake-up call to bring us to our senses. I optimistically trust that these cataclysmic events unfolding will serve as one giant wake-up call so that we as individuals become aware, educated and in control of our money. And in the bigger picture, that the same holds true for our cities, states and nations. Ignorance is not bliss; it’s foolish, expensive and painful.

2) Adversity as a Gift
Most of us are taught, beginning in kindergarten, that mistakes are bad. How often did you hear, “Don’t make a mistake!” In reality, the way we learn is by making mistakes. A mistake simply shows you something you didn’t know. Once you make the mistake, then you know it. Think about the fi rst time you touched a hot stove (the mistake). From making that mistake, you learned that if you touch a hot stove you get burned. A mistake isn’t bad; it’s there to teach you something.

In the economic times ahead, most people will encounter adversities at one point or another. Most people view adversity the same way they view mistakes: They see it as bad and something they want to avoid. It’s time for a new outlook.

Donald Trump gave me an insight about success that I will not forget. He said that the No. 1 key to being a successful entrepreneur or businessperson is how you respond to adversity. When faced with a hardship, do you crumble and quit, or do you stand up, take action and push through? When confronting a tough problem, do you take it on, learn from it and grow, or do you let the problem beat you down?

Adversity has the power to build your character and strengthen your spirit. It also has the power to weaken you and cause you to contract. It’s all a matter of how you react to the situation. I have faced many tough times in my life, and although it was hell at the time, I can honestly say that each time I pushed through it I became stronger, smarter, more confi dent and more successful. For me, adversity is a great teacher.

One of my all-time favorite books is As a Man Thinketh by James Allen, published in 1902. The message throughout the book is that your thoughts create your reality. It’s a very small and simple book. One of the most memorable lines in the book for me was this: Circumstance does not make the man; it reveals him to himself.

I interpret this to mean that how you handle the different situations in your life—good, bad and indifferent—determines the quality of your character. It reveals who you are.

So how you and I respond to these unfolding economic times will be very revealing and, ideally, enlightening.

3) Opportunity Comes Knocking
The third benefit this financial dilemma presents is the abundance of opportunities surfacing. The only question is, do you know what to look for to take advantage of them?

Real estate prices are coming down—opportunity. Business needs are changing—opportunity. Stock prices are correcting—opportunity. Innovation and creativity will rule— opportunity. Small business is growing—opportunity. Etc., etc., etc.

Are you focusing on the potential opportunities ahead, or are you cutting back, clipping coupons and reverting to survival mode? In my opinion, this is the best time to get educated and to start seeking out the opportunities—opportunities that not only allow you to survive, but to thrive and prosper in the years ahead.

As Charles Dickens wrote, “It was the best of times. It was the worst of times.”

May these be your best of times.

Kim Kiyosaki is co-founder of the Rich Dad Company, a speaker and best-selling author of Rich Woman.

Originally posted here:
The Upside of a Downturn

What are the top skills that should be taught to every man, woman, and child who enters our education system? Here are a few that aren’t taught at all:

1. How to Make People Like You and Network

For a skill that affects every area of your life (from dating, to family, to work), it’s amazing how little people know about this. There is great power in knowing you can reach out to your network whenever you have a problem to solve, to be able to reach key influencers at conferences and meetings, to make an impression on audiences, to project confidence and trustworthiness, and to make friends with other successful people.

Required reading: How to Win Friends and Influence People and How to Talk to Anyone: 92 Little Tricks for Big Success in Relationships.

2. How to Speed Read and the Power of Audio Books

Speed reading and speed comprehension is real. The nominal investment of time it takes to learn pays off in spades for the rest of your life. The same goes with audio books. If you spend an hour per day in the car learning instead of cursing at other drivers, you will have attended the equivalent of an entire semester course.

Required reading: The Psychology of Achievement by Brian Tracey

3. How to Set Goals and Manage Time

Want to know how to get anything done in life? Our school system doesn’t feel that this is worth teaching. If you have ever found yourself being busy all day only to wonder what you accomplished at the end of it, then you need to learn this.

Required reading: Getting Things Done, Eat That Frog, No B.S. Time Management For Entrepreneurs

4. How to Read a Financial Statement

Robert Kiyosaki is fond of saying that the rich teach their children how to read financial statements and the poor do not. Schools have never been very good at teaching people how to get rich, probably in no small part because professors are generally poor and wouldn’t know how to teach it.

Required reading: Cash Flow Quadrant, or this blog article

5. How to Negotiate and Use Contracts

If you want to accomplish anything of significance you’re going to have to work with other people. There is a certain art to structuring good contracts and measuring results. School teaches you none of this and most people have to learn it from the school of hard knocks.

Required reading: Donald Trump’s The Art Of The Deal

6. How to Save and Invest

People are never taught how to build wealth, which is why the nation is in credit card debt. Moreover, people are never taught the power of passive income streams and how to really break free from the rat race of working 9-to-5. There is a whole body of literature on this topic which is never even touched upon in traditional education.

Required reading: The Richest Man In Babylon, The Millionaire Next Door, or Ben Franklin’s The Way To Wealth

7. How to be Successful in Life

Some people have devoted a lifetime to understanding what makes people happy and successful. There are the big three: health, wealth, and relationships. People need to find what they really want to do with their life. There is a lot to learn here!

Required reading: What To Say When You Talk To Yourself, When I Say No I Feel Guilty, Think and Grow Rich, The Way Of The Superior Man

8. How to Spread an Idea and Basic Marketing

The basics of marketing are something everyone should understand. Even if you don’t think you’re in marketing, you’re in marketing. If you have an idea at work, or want to get a raise, or want to convince your kids to go see a movie, then there is something applicable from the marketing world.

Required reading: Dan Kennedy’s The Ultimate Sales Letter, CopyBlogger, The Psychology of Influence

Source:
Lifehack.org August 15, 2008

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8 Essential Skills They Didn?t Teach You In School

- Robert Kiyosaki

People often ask me, “How do you find great investments?” My standard reply is, “You have to train your brain to see them. Great investments are all around you.”

I know that’s not a very satisfying answer. Most people want something more specific and concrete. But my reply is as accurate as possible. If we could’ve seen all the great investments just in the past decade, we’d all be multi-billionaires.

Missing Out on Millions

There have never been more opportunities to become rich than in the last 10 years. And there’ll be even more opportunities in the next 10. Let me explain. Like many investors, I didn’t see the power of eBay almost a decade ago. If I had, I’d be a billionaire today. Nor did I see the power of YouTube, or Google, or MySpace. Being an old guy, my brain isn’t trained to see investing opportunities in cyberspace. So I missed them.

Thirty years ago, when my business career was just starting at Xerox, I was introduced to a new type of computer. I wasn’t tuned into computers at the time, so little did I know that I was looking at the early version of what was to become the Macintosh. So I also missed that billion-dollar opportunity, too. How many billion-dollar opportunities have I missed? Maybe millions.

If I’ve missed so many million- and billion-dollar opportunities, why am I writing articles and speaking worldwide about financial independence? That’s a valid question, and the answer has to do with helping you find great investments.

Perseverance Pays Off

I took my first real estate investment course in 1974 in Honolulu. The cost was $385, and I believe it was two or three days long. Toward the end of the class, the instructor said something I’ve never forgotten: “Now you know the difference between good real estate investments and bad real estate investments. Now you all know what to look for.”

He paused and then added, “The problem is, most people will tell you such investments don’t exist. Your friends will tell you so, and so will real estate agents.” Truer words were never spoken. For the next few months, I went from real estate office to real estate office, looking for investments. As promised, the real estate agents told me what I was looking for didn’t exist. My friends and co-workers at Xerox told me the same thing, and said I was either dreaming or smoking funny cigarettes.

Finally, in a small, obscure real estate office in downtown Waikiki, I met a scruffy little broker who said, “I have what you want.” The next weekend I was on a plane to Maui, where he’d found an entire condominium development that was in foreclosure.

I purchased my first piece of investment real estate for $18,000, putting the $2,000 down payment on my credit card. The one-bedroom/one-bath condo paid me a positive cash flow, even after all the expenses and mortgage payments. My investment career had begun. More important, I was training my brain to see what most people don’t see. That $385 real estate course has made me millions of dollars over the years.

Keep an Open mind

Earlier this year, around tax time, I wrote an article, “Think Rich to Lower Your Taxes.” It was about an investment strategy known as the “velocity of money,” and how I use it to invest, make a lot of money, and then legally use the tax laws to minimize my own taxes. I suspected it would spark some controversy, and it did.

For a couple of weeks, I kept track of responses. Some of the less-complimentary comments reminded me of what those real estate agents and my friends at Xerox said to me back in 1974.

You see, our brains are either our greatest assets or our greatest liabilities. As I said, when it comes to investment opportunities in technology, my brain is a liability; I just don’t get it. When it comes to investment opportunities in real estate, gold, oil, and silver I’m above average, but not great. And that’s because I’ve trained my brain to see opportunities in those areas.

So, instead of criticizing the readers who were close-minded (or even mean-spirited) about my advice, I encourage them to keep an open mind and find their own way of seeing investments most people miss. That’s how you get rich. People who refuse to open their minds to new strategies seldom become rich — which I guess is why there are more critics in the world than rich people.

Finding Your Magic Formula

One of the most important things my rich dad taught me was to never say, “I can’t do it” or “I can’t afford it.” Those thoughts are self-limiting, and it’s hard to find great investments when you’re basing your behavior on limitations. In today’s world, there are more investing opportunities than ever before. Why would anyone want limited financial results in an unlimited world?

One of the reasons I write about financial independence is so I can put forth ideas that challenge the way people think about investing. If you want the same old financial-planning dogma of “work hard, save money, live below your means, get out of debt, and invest in a well-diversified portfolio of mutual funds,” then my philosophies are obviously not for you.

My job is to stimulate your thinking, inform you about why rich people get richer, and encourage you to find the magic financial formula that works for you. I found mine, and I want you to find yours.

 

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Finding Your Magic Investing Formula