Robert Kiyosaki Blog

Financial Education Portal inspired by Robert Kiyosaki


Top two fears for people wanting to become entrepreneurs

In a survey I conducted of 200 individuals, who stated they wanted to make the transition from corporate to business owner, the top two things they indicated stopped them were: Inability to replace current income Not having a stable income What can you do to counter these top two fears? How can you make it possible to have a stable income that replaces your current corporate salary? Below are the four areas to focus on in order to set these fears aside: What do you really want to do with your income: replace, upgrade or down grade? There are many people who would be content earning less if it meant they could do what they loved. Others may want to keep their current level of income or even gain more. Getting specific with what you truly want and need is essential to be able to create your customized financial plan. Based on what you want to do, how much money can you make? This includes considering tax breaks that may yield you more income than you thought. Even if you can generate enough money to give you what you need, I highly suggest you find other ways to supplement your income. There are many ways of increasing your income streams, the key here is to increase your financial IQ and then find the investment(s) that will work for you. Put together your personal financial plan. Consider things like the consistency of your business and make sure that you are accounting for any fluctuation. What are your short and long term expenses? Talk to someone who’s got a similar business to determine what these might be for you. Once you’ve got this figured out it will help you see what changes need to be made to your business plan in order to pay yourself the salary you desire while investing in your business. This is also an area that supplemental income streams can come in handy. Invest in your nest egg. As your business grows, and other income streams grow, the more money you can put away as a nest egg and the more income you can be generating. The number one piece of advice the most successful entrepreneurs suggest, think Donald Trump, Sir Richard Branson and Robert Kiyosaki, make your money work for you. Build up your nest egg and then have it work for you by providing you the passive income you need to live. The financial fears you may have now, will dissipate once you develop and execute on a plan to create the income you need. The important thing is to think through what you really...

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11 Ways to Fail Financially While in College

Academics are not the only thing you should worry about as you grind through the horrendous prison that is college — parties, booze, spring break — oh, the horror! According to a recent study by Sallie Mae, the average college student will graduate with $4,100 worth of credit card debt, a staggering amount in addition to what they’re already owing from their student loan and other college related expenses. If starting a new life after graduation with unnecessary debt isn’t your idea of awesomeness, here’s a list of 11 ways you can fail financially while you’re in college: avoid the actions listed below and you just might come out financially ahead when you graduate! Taking an Excessive Long Time to Finish School “I’m on the special six-years program,” my friend will often say as people ask him whether if he was a junior or senior in college. While some people will often joke about being a “super senior,” many times there are negative financial consequences if you prolong your stay in college. Although its perfectly reasonable to switch major as you discover your true passion, lingering while in college can increase your overall tuition cost and prevent you from stepping into your “wage earning years.”  For those that are juggling multiple projects or part/full-time jobs while in college, this can especially be a problem as you try and balance between work and academics. Signing Up for Unnecessary Credit Card Accounts The Sallie Mae study revealed that on average, college students have 4.6 credit cards, and half of college students had four or more credit cards.  The number of cards a student carry also dramatically increases as a student progress through the years in college. Keep it simple and avoid tackling on additional debts by sticking with one credit card through your college years.  If you’re unsure of your ability to properly and wisely use credit, consider opting for a debit card instead — you get the same conveniences, and if your debit/check card is from a major national bank, you get the same level of fraud protection from a credit card. Doing a Poor Job in Managing Your Financial Accounts One reason to avoid carrying an excessive amount of credit cards — beyond the risk of increasing your credit card debt — is that managing financial accounts are simply not one of the major priorities for most college students.  You can keep the organization simple by using online account access that are provided by most major banking institutions.  Many of these online accounts offer bill alerts via email or SMS; they also offer online bill pay along with automatic...

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Ask the Dolans: Tips for unemployed seniors

According to the Labor Department, the June unemployment rate for those 55 and older hit 7%–the highest on record. That’s bad news for seniors who are out of work or being forced to re-enter the work force to make ends meet. The Dolans have some job hunting tips for the 55+ crowd, including good news about some advantages you may have over the younger competition. Dear Ken and Daria: Thanks to the investment losses I’ve suffered, I have to come out of retirement and go back to work. Do you have some job hunting tips for seniors? –Maureen See the original post: Ask the Dolans: Tips for unemployed...

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Developing Wealth Creation Skills

Wealth creation is probably a new term for most people. It is hard enough to create something useful for ourselves. Yet, do people really think that creating wealth is possible? As we can see, in today’s educational system it is rare for universities to teach wealth creation even in business schools. Thus, it might as well be an abstract idea as world peace. However, inspirational giants and self-made millionaires like Robert Kiyosaki, Tony Robbins and Jamie McIntyre are people who have perfected wealth creation skills. As the term implies, skill is an action to produce tangible results. One cannot say that he has the skill to do something if he cannot demonstrate it. Thus, developing wealth creation skills is not only a tangible part of reality, but also something that people can develop and enhance. Following a path towards developing wealth creation skills will definitely help you achieve financial freedom. Do not Sell Yourself Short The first step in developing your wealth creation skills is acknowledging your value.  Having the self-confidence to move forward with your strengths will allow you to be valuable to other people. When this happens, do not undervalue yourself. When you undervalue yourself you project an image where people can manipulate you. Feeling that you do not get equal value for your work is the biggest individual letdown. In order to develop your wealth creation skills, you must design your launch pad to success by feeling good with your work. By pushing yourself to live up to your perceived value, you also give yourself the incentive to become a better person and raise your value even higher. Then you can become a critical creator of your wealth. Millionaires are not cheap Most successful people will tell you that success comes with a price. Sometimes the price tag for success is something that we can afford. However, we still don’t have the will to spend it anyway. Self-made millionaire’s spends on things that they can’t afford because they know that they can be better off with it. Remember that the world millionaire and cheap will not come together. If you want to be a millionaire someday, start getting rid of the word cheap. Remember that every benefit always comes with a cost. Go for things that you feel will benefit you the most and be daring enough to supply the necessary effort for it. Finding your craft – then get paid for it People find confidence if they do what they really love doing. However, people tend to leave the things that they love in order to work hard for money. When this happens, one finds...

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Free credit report ads: Stop the music!

The new credit card reform law is full of good consumer protections, but here’s one you might not know about: It’s going to require companies like (owned by credit bureau Experian) to clearly state that their services aren’t actually free. Who doesn’t love those commercials? You know, the ones featuring the lovable 20-something singing about his credit troubles in a variety of musical genres? In the first, he’s dressed in pirate gear and crooning about how he has to work in a seafood restaurant because his identity was stolen (it works best if you don’t think too hard about it). My favorite jingle is the one that has him singing about how he married his dream girl, only to find out that her credit was bad, too. You can see all the commercials here: The only  problem, of course, is that is not really free. In order to get your report through the site, you must sign up for a trial membership in the site’s “Triple Advantage Credit Monitoring” program. If you don’t cancel your membership within a 7-day trial period, you’re billed $14.95 a month. And plenty of people have fallen for the site’s promise without realizing they were going to be billed. The Better Business Bureau has received 9,865 complaints about the site in the last 36 months, with some complainants saying that they kept being billed even after canceling membership. But now, thanks to the Credit Card Accountability, Responsibility and Disclosure Act, companies touting free credit report services must disclose in their ads that consumers are entitled by law to receive a free credit report from each of the three credit bureaus, and that the official web site to obtain them is And radio and TV ads must clearly state, in both the audio and the video, “This is not the free credit report provided for by federal law.” That’s good news, since the web-only public service commercials the Federal Trade Commission created in response to’s ads need all the help they can get: Excerpted from:Free credit report ads: Stop the...

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The Upside of a Downturn

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...

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Robert Answers “10 Questions” on

Watch the video interview and read the feature article in TIME Magazine as Robert answers “10 Questions” from readers.  From Conspiracy of The Rich to how to find a rich dad, Robert answers your toughest questions as only he can. Originally posted here: Robert Answers “10 Questions” on...

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Go Out and Sell Something

Veteran sales professional, Rollis Fontenot III, has released his first book “Go Out and Sell Something – The Recession-Proof Guide to a Successful Sales Career.” Available on Amazon and, the book comprehensively addresses a subject, according to Fontenot, that is of growing importance to sales professionals in every industry. The book also appeals to business owners and other professionals who are in charge of business development. “With the economy continuing to falter, salespeople are having to adapt to a rapidly changing business environment that isn’t always clear or understandable,” Fontenot explains. “When you consider the alarming rate of company layoffs, bankruptcies, bailouts, and restructurings, it’s understandable to feel uncertain and downright scared over what the future holds. However, there are many salespeople who actually thrive in tough times. Their secret is developing the right thinking and mental attitude that successful salespeople possess. The order of success in virtually any field of endeavor is BE-DO-HAVE. Our thinking or “BEing” helps us to take the right actions. Our “DOs” help us to receive, and our HAVEs are the results that we want. Our minds also need to be ready to receive the success that we want.” According to Kari Schneider of Alliance Recruiting, “Rollis has a unique way of not only sharpening your selling skills, but also getting you mentally prepared to receive and retain the success you’ve been looking for. His book is quick, simple to understand, and easy to implement. Rollis guides you through the slippery slopes of non-production in a recession. Basically, if you want more money – Go Out and Sell Something.” Not just for salespeople, but for any business professional experiencing stress and anxiety over this current recession, the new book is geared to help those needing clear-cut solutions for taking proactive and positive steps to increase their sales, rejuvenate their careers, and improve their overall lives. “Being in sales can be very rewarding,” states Fontenot. “In fact, one major advantage of a career in sales is that successful salespeople are the first to be hired and often the last to be let go. They are also among the highest earners in a company.” While there are countless books about sales techniques and strategies, Fontenot has taken a refreshingly different approach to the subject. He has only included the most timely and relevant concepts and compiled them into an easy-to-use guide that includes recession-proof action plans that are designed to give straightforward actionable items that deliver immediate results. “Fontenot shares his knowledge of selling in “Go Out and Sell Something along with the collective thoughts of some of the best authors in the industry such...

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Why Oil Price is going up?

Burning crude oil itself is of limited use.  To extract the maximum value from crude, it first needs to be refined into petroleum products such as gasoline, or petrol. However, there are many other products that can be obtained when a barrel of crude oil is refined.  These include liquefied petroleum gas (LPG), naphtha, kerosene, gas oil and fuel oil.   Other useful products which are not fuels can also be manufactured by refining crude oil, such as lubricants and asphalt (used in paving roads). A range of sub-items like perfumes and insecticides are also ultimately derived from crude oil. Furthermore, several of the products listed above which are derived from crude oil, such as naphtha, gasoil, LPG and ethane, can themselves be used as inputs or feedstocks in the production of petrochemicals. There are more than 4,000 different petrochemical products, but those which are considered as basic products include ethylene, propylene, butadiene, benzene, ammonia and methanol. The main groups of petrochemical end-products are plastics, synthetic fibres, synthetic rubbers, detergents and chemical fertilisers. Considering the vast number of products that are derived from it, crude oil is a very versatile substance. Life as we know it today would be extremely difficult without crude oil and its by-products. Is the economy really improving, therefore driving up consumption of oil? Tracking the share market will not give you the real answer. In fact, we know the global economy has yet to recover. U.S. Dollar Drives Oil Oil is priced in U.S. dollars. According to OPEC, the relationship between oil prices and the U.S. dollar is almost mechanical. When the U.S. dollar falls in value, oil prices have to go up in U.S. dollar terms to stay constant in euro terms. Oil producers receive their oil revenues in U.S. dollars and need to be compensated for the fluctuations of the dollar. When oil price hit too high, consumers have to spend more for gasoline, petrol and etc despite that their income didn’t go up. That’s a high price to pay. ~Aaron Loh The rest is here: Why Oil Price is going...

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I am just another “Poor Dad” in this world!

The RICH DAD’s apprentice help me to reveal myself, soon I realized that I am just another POOR DAD in this world. My head non-stopping thinking about it. RICH DAD – I must become rich & wealthy because I have a family & children to take care. POOR DAD – I cannot become rich & wealthy because I have a family & children to take care. So different the way of thinking. I still can remember the below from the well-known speaker told us, 1. People should do what they love to do 2. However, most people end up never do what they love to do The above 2 sentences are contradiction each others, if people know they should do what they love to do but why still end up doing something else. Why people end up never doing what they love to do? You must have a lot of excuses or reason to justify it. So do I. – Dare not take risk – People do not get what they want due to they do not know what they want in the first place. – Fear – People are complacent, do not want to get in trouble in the something new – Opportunity not there The reason that people do not end up doing what they want to do is because whatever they are doing now is just too comfortable, it is not great, not fantastic, not they really want but still go to work. Sometimes, they may even hate the job, or the company, or even hate the boss but they still go to work. It is interesting to know people spend their time & effort doing something they really do not like to do but just because they are just too comfortable, not many changes, – Comfort Zone. Don’t you think is interesting? Think about that. Definition of Word “Wealth” Big car? Big house? Possession on oneself? How much he spent? Did you realize that a lot of people have big car big house but also with big loan. Wealth Number of day forward you can survive/ maintain your lifestyle if you stop work – forever/ infinity Which mean if you don’t want to go to work tomorrow, you never ever have to worry a day about the rest of your life because somehow somewhere there will be an income/ money coming to you and you will be taken care of. Isn’t that wonderful? That’s the stage we are looking for. Financial Independent or Retirement Retirement normally happen in age of 55/60/65 years. What you can do at age of retirement? Nothing much. Will it be...

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