Money Tips from Robert Kiyosaki

Education

Jan 04

money tips from robert kiyosaki

Robert Kiyosaki shares his top money tips. 

According to money guru Robert Kiyosaki, there are real riches achievable by those who are willing to strike their own path, away from the traditional route of a steady job and a pension plan.

He decided to follow what he learned from a wealthy friend of his father, make his own path and be responsible for his own financial security.

He could not get the major publishers interested in his first book so, in 1994, he published ‘Rich Dad Poor Dad’ himself and started his sales campaign at a friend’s garage.

That was a very modest beginning, but the book climbed to the top of the major best-seller lists and stayed there for years—and now Robert has built an empire!

Robert admits that some of his first business ventures did not succeed and it should be obvious to everyone that there are no guarantees with any way of investing or entrepreneurship—or even what were once secure career paths and pension plans.

Robert’s view of the future is not rosy, but is worth considering as you prepare yourself for your voyage into the financial future.

He says that if you want to improve your financial situation in quickly changing conditions that we can’t avoid in the 21st Century, you must know the following things:

Whether a 401(K) is a retirement plan or only a savings plan.

The safety that we think bonds have may be illusory.

The advantages, and possible negative aspects, of putting money away in the Bank or other “old reliable” institution.

  • What affects the returns you get from investing in mutual funds?
  • What is inflation?
  • Why do workers appear to be taxed more than owners?
  • What might cause the return from your pension plan to be less than you thought?

The bottom line is: You have to be aware of the benefits and drawbacks of being fully responsible for your own finances.

If you don’t, any decision you make is likely to be much less successful than it could be and potentially quite dangerous for your financial health.

Robert avoids investments that are “backed by paper” like stocks, bonds, savings, and mutual funds.

He prefers to put his money where it is backed by real assets; gold, silver, and oil. He avoids real estate that isn’t producing cashflow.

Don’t adopt these, or any other suggestions, without doing your own careful checking with qualified professionals—there are never any guarantees.

But make sure you know the basics before you even start asking questions! Otherwise, you may misunderstand the answers and get into more trouble.

Be a Brave Investor

Some people wait until there’s good news about particular shares or other news that forecast good times for the shares they intend to buy. They want certainty and that’s almost impossible to obtain with investments or, in fact, in life generally.

By the time that good news about shares appears in the media, the best positions have already been taken up by those who are prepared to be bold and also have invested their time and energy learning how the various forces that affect the stock market really interact.

You could still be affected by some events but if you don’t equip yourself with that essential knowledge then you are guaranteed to be buffeted or even sunk like a sailor in a leaky, rudderless boat!

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