Robert Kiyosaki Blog

Financial Education Portal inspired by Robert Kiyosaki


Why Financial Experts Don’t Work

~ David Shafer ~ The hardest thing for some folks to understand is why taking advice from or turning your money over to experts doesn’t work.  After all, that is what we have been trained to do, listen to experts! There are two problems with this strategy. First, is the problem of our own emotional/mental structures.  Taking advice from experts doesn’t change our own mental structures.  If we don’t change the way we think about money, if we don’t change our understanding about money, if we don’t create a wealth creating environment in our lives, then we will fail to create wealth.  It is as simple as that.  By going to a “financial expert” we are demonstrating an unwillingness to take control of our own lives and that is what needs to be done in order to create wealth.  Study after study demonstrates this. We can not outsource control and expect to have above average results. Secondly, the masses of “financial experts” out there are mostly folks just like you, that haven’t taken control of their own finances, or turn themselves into active participants in their own financial lives.  What, you say?  Yes, that’s right how many folks in the financial expert category are actually wealthy?  How many have made their wealth through investing?  Most, if they have acquired any wealth, do it by having superior sales abilities that turns into superior income.  But as a class, they are wealth underachievers, meaning they have less wealth given their income, than the average.  I read that the average “financial expert” has an income of $80,000, in which they aren’t very good, at least below average, at turning into wealth. Original post: Why Financial Experts Don’t...

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8 Millionaire Lessons

Millionaire lesson No. 1 Build a strong brand, and don’t be afraid to promote your product with passion. Millionaire lesson No. 2 Don’t be afraid to go out on your own if you possess the competence and know people who can help you reach your goal. Millionaire Lesson No. 3 Identify trends and be patient, even if it means waiting a decade to make an investment. Millionaire Lesson No. 4 Success on the Internet isn’t serendipitous. Don’t court investors until you have adequate traffic and initial revenue. Millionaire Lesson No. 5 Plan for the very long term. Gary Gardelli waited two years to get the job he wanted and more than 30 years for the payoff. Millionaire Lesson No. 6 Combining an old way of doing things with a popular new trend will resonate with customers and clients. Millionaire Lesson No. 7 It doesn’t take a fortune to build one. Saving a little at a time is an established path to accumulating wealth. Millionaire Lesson No. 8 Forgo the safe route and find an employer who will help you live up to your potential. Go here to read the rest: 8 Millionaire...

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How To Get Ahead

We all want to get ahead. You hear people say it all the time. But what exactly does that mean? It’s kind of a vague statement, but it sounds good. Basically, it means that you want to have more money?maybe get your earnings ahead of your cash depletion. Maybe it means you want to be able to save enough to send your kids to good universities, or be able to take your family on annual vacations. It could mean that you want to squirrel away a retirement fund. Whatever your particular idea of getting ahead, it does imply some sort of motion movement from where you are now to where you want to be. That means you must figure out exactly where you are now and where you should be going. Once you start to think about it, though, you may find those places are a little more difficult to determine than you had originally thought. You may find yourself beginning to struggle with just what your particular concept of getting ahead is. Robert Kiyosaki, who authored the popular Rich Dad series of books, has mapped out a way for you to tell where you are and where you should be, if building wealth is your goal. He also gives you a plan on how to get there. In his book “Cash Flow Quadrant”, he introduces readers to a concept that the man he called his “rich dad” introduced to him years ago.  This quadrant is an illustration of where your money is coming from and subsequently how you think about money.  Believe it or not, the two things go together. For instant, if you are in the E quadrant, you are an employee in search of security.  Someone in the S quadrant is self-employed and likes to be in control, to do things their way. A B quadrant person is a business person. (This is very different from an S-quadrant person because the B has a system that can work without their direct input, thereby freeing them for other, wealth-building, pursuits.) The I quadrant person is an investor. According to Kiyosaki, that quadrant not only tells you where you are, but where you should be. If you are on the left side, in either the E or S quadrant, you should be making plans that will move you to the right side?first to the B quadrant then into I. In order to do that, you need to increase your wealth by taking a job that affords you the money to invest or the time to build a business system. The system will take care of your personal needs,...

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Even Steven

 ~ Robert Kiyosaki As a Marine Corps pilot in Vietnam, I was acutely aware of the balance between supply and demand. Stationed on an aircraft carrier, we had to order supplies from warehouses on land. It was frustrating to regularly receive aircraft parts for the wrong model of aircraft. My commanding officer wasn’t interested in my problems with the supply chain; all he wanted was for my gunships to be ready when he needed them. Because the Army had a large supply of parts in its aircraft graveyard, we often kept our fleet flying by borrowing parts from the Army. Although this didn’t follow Marine Corps directives, we kept our aircraft in the air with or without parts from our own supply chain. One very important job of an entrepreneur is to coordinate the forces of supply and demand in his or her business. If there’s too much supply, or inventory, the business suffers. If there’s too much demand and not enough supply, the business also suffers because the customers aren’t being supplied with what they want and may go to a competitor. If there’s no demand or supply, the business will soon be out of business. Think of demand as sales and marketing. It’s your sales and marketing department’s job to create demand by making sure your customers know and buy what your business has to offer. Meanwhile, supply is represented by manufacturing, warehousing and distribution, aka the supply chain. It’s your supply chain’s job to be prepared to fulfill the demand created by the sales side. In my businesses, I divide my responsibilities between supply and demand. As a business grows, I appoint one person to be solely in charge of demand and another person solely supply. This reduces a lot of the finger-pointing, buck-passing and shoulder shrugging that happens when supply and demand aren’t in harmony. If there’s too much supply (inventory) and not enough demand (sales), both sides come to the table to discuss it. The beauty of including both sides is that everyone realizes it is one business. Problems have a better chance of being resolved when each side understands the other and realizes they share the same goals. In Vietnam, I never had the opportunity to meet face to face with the clerk who shipped the wrong parts and explain how important his job was not only to the aircrew, but also to the troops on the ground. My experience with supply and demand in Vietnam has made me a better entrepreneur today. And every business can benefit from aligning these two critical components. Go here to see the original: Even...

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?Rich Dad Poor Dad? co-authors settle lawsuit

Sept. 3, 2008 The Arizona Republic The Valley co-authors of the popular Rich Dad Poor Dad financial series officially are going their separate ways. Robert Kiyosaki, the corporate face behind the books, on Wednesday paid an undisclosed sum to settle a lawsuit with Sharon Lechter, who had sued her former partner and his wife. Financial terms were not disclosed and Lechter has sold all of her interests in the Rich Dad Co. to the Kiyosakis. “This settlement allows us to focus on growing the company well beyond where it is today,” Robert Kiyosaki said in a statement. “The Rich Dad team is dedicated to bringing financial education to people throughout the world.” Lechter, who was attending the Republican National Convention in St. Paul, Minn., said she was looking forward to writing about financial literacy for families and children on her own. “I am very pleased with the settlement,” Lechter said. “The last 10 to 11 years were a great time of building a company, and I wish all of us great success in the future.” Lechter had alleged the Kiyosakis had enriched themselves, diverted assets and wasted money in a business that she claimed to have helped build from scratch. Lechter also had claimed she “often rewrote large sections” of books she and Robert Kiyosaki co-authored. The Kiyosakis denied the allegations and said if Lechter has been “damaged,” it was caused by her own actions. Success from the original book catapulted their joint venture, commonly known as the Rich Dad Co., into a multimillion-dollar operation with offices in Scottsdale. The company, founded in 1997, now offers more than 25 financial books that have been translated into 51 different languages in more than 107 countries. The key objective is to achieve wealth. Lechter, a certified public accountant who lives in Paradise Valley, had wanted a judge to dissolve the joint venture, appoint a receiver and have the Kiyosakis pay compensatory and punitive damages. She left the company last year and legal fighting followed in Clark County District Court in Nevada, where the company is headquartered. A trial was scheduled for Dec. 29. “It’s good to have it behind us,” Kim Kiyosaki, Robert’s spouse and company co-founder, said in a phone interview. “It truly has gotten our company more focused in what we want to do. There has been some good to come out of it, given all the negativity and angst in a lawsuit.” View original here: ?Rich Dad Poor Dad? co-authors settle...

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Your House Is Not An Asset

In the video, Robert Kiyosaki (of Rich Dad, Poor Dad fame and someone with more knowledge than me) explains exactly why (with a helpful accounting diagram) the house you own is not an asset and, instead, is a liability. Kiyosaki makes some very helpful points, such as: People today call their liabilities “assets”; The concept that an item that takes money out of your pocket is a liability, and an item that puts money in your pocket is an asset; and The power of cash flow. It’s a short and very insightful video.  Enjoy! See original here: Your House Is Not An...

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Rich Dad granted a wish?.

Generosity is key to the Rich Dad philosophy and last Friday, Robert Kiyosaki and the Make-A-Wish Foundation fulfilled the wish of a young man from Michigan named Jimmy Komara. This extraordinary teenager is very interested in his financial future and his one true wish was to meet Robert Kiyosaki. Jimmy and his family arrived by limo at The Rich Dad Company headquarters located at 4330 N. Civic Center Plaza in Scottsdale. The day included one-on-one time with the co-founders Robert and Kim Kiyosaki, playing their internationally acclaimed CASHFLOW board game and meeting the entire Rich Dad team. “What an outstanding day! Meeting Robert and Kim was truly a once in lifetime moment,” Jimmy said. “Just when I thought it couldn’t get any better, they offered me an internship at The Rich Dad Company. This is the chance to learn first-hand what being a true entrepreneur is all about. Thank you to the Make-A-Wish Foundation and the Kiyosakis for making my dream a reality.” A core value of The Rich Dad Company and one that both Robert and Kim Kiyosaki practice, is giving back to the community. This, combined with their ongoing message of courage, unleashing the potential of the human spirit and personal empowerment, is a fundamental principle on which the company has been built. “My first response when I heard about Jimmy’s wish was ‘Why me’ He is an inspiration to us all and I was humbled by his request. What a great day, not only for Kim and me, but for the entire Rich Dad family,” Robert Kiyosaki said. Jimmy, 18, was diagnosed with Ewing’s sarcoma, a rare cancer characterized by tumors found in bone or soft tissue. Ewing’s sarcoma occurs most frequently in male teenagers, with a peak from ages 10 to 20. He is now in remission and will be attending the Arizona State University W.P. Carey School of Business in Tempe this fall. “Robert and Kim Kiyosaki are shining examples of why the Make-A-Wish Foundation continues to flourish,” said Brent Goodrich, Make-A-Wish Foundation spokesperson. “The huge success of the day was apparent in seeing Jimmy’s most heartfelt wish come true. The Rich Dad Company remained true to its mission by enriching the life of a young man who’s shown so much courage and spirit while confronting this serious medical challenge in his life.” Read the original: Rich Dad granted a...

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Teaching dollars and sense

~ ~ Salem High School has graduated some otherwise well-educated and well-rounded seniors who weren’t capable of deciphering their first paycheck or of understanding the pitfalls of the credit card come-ons popping up in their mailboxes. Until recently, Salem was no different than most high schools across Virginia or the United States. Then the school board decided that every student needs a crash course in personal finance before being eligible to receive a diploma. In the academic world, it’s called financial literacy. In the real world, where knowledge about the rules of cosign come in more handy than the cosine rule, it’s called staying out of trouble. The better equipped teens are in understanding how money works, the better prepared they will be in young adulthood to head off financial disasters. Economic principles have long been taught in high schools, but they haven’t been mandatory. There is an acknowledgment at both the federal and state levels that public schools need to teach students at least the basics about taxes, investments, credit and such. Virginia in 2005 established financial literacy goals for middle and high school students, but as to how they will be taught and applied is still under development. The Salem School System isn’t waiting. It is the first in what hopefully will become a quickly growing list of schools to require a semester-long personal finance course as a graduation requirement. At the start of the course, students take a pretest to determine what they already know. Most fail. By the end of the course, most students can earn at minimum a C-plus on the test. It’s a good start as long as students also learn that this course is really just a beginner’s primer. Far too many adults don’t understand how markets or budgets work or about filing taxes, applying for credit and building savings; they take out mortgages and loans with negative amortization or sharply increasing payments that they don’t understand at the outset; they borrow much more than they can realistically pay or turn to payday lenders to make ends meet. The personal bankruptcy courts are full of people who at young ages became trapped in debt because they didn’t understand what they were doing. Salem intends to make sure its graduates are smarter than that. Teaching dollars and...

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Complimentary Tickets – BreakThru To Success Seminar

Get your complimentary tickets to Chris Howard’s Breakthrough To Success seminar! The BreakThrough To Success seminar is a 3 days action-packed seminar, worth $895 per ticket.  Watch this video where Chris Howard explains more about Breakthrough to Success… The seminar is conducted in various dates across Australia, New Zealand and Europe. Get your complimentary tickets at   Continued here: Complimentary Tickets – BreakThru To Success...

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Your Kid Thinks He’ll Make $173,000 A Year

If you need a reason to set up a plan to teach personal finances to your children, a new survey from Charles Schwab Financial Services should give you the motivation. They recently gave a survey to 1000 teenagers between the ages of 13 and 18 and came away with some findings that show that teenagers today have high expectations on what they believe they will be earning in the future: Teenagers today think that they are going to make quite a bit of money. The average teenager believes that they will be earning an salary of $145,000 a year. Boys believe that they will be earning a salary of $173,000 per year while girls believe they will be earning $114,000 per year. This despite the fact that the average annual salary for a worker in the US is about $40,000 today. According to the survey, teenagers in the US get most of their money from gifts given to them (54%) while over half (52%) say that they get their money by simply asking their parents for it when they need something. Close to one-third (29%) of teenagers already have some type of debt with the average amount being $300. This is a 23% increase from 2006 when the average debt owed by teenagers was $230. Another findings from the survey was that teenagers say that they do want to learn more about personal finances so that they can make better decisions when they are living on their own. Obviously, the schools are not teaching these fundamental lessons to the children and so it is up to the parents to help educate their children about finances.   See the rest here: Your Kid Thinks He’ll Make $173,000 A...

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