Dear Robert Kiyosaki.
I'm from Kazakhstan and I was read your book "Rich dad, poor dad".
And I want to buy the game "Cashflow" in Russian lunguage. Please, tell me, how can I buy this game?
Thanks.
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I'm Jap, I'm from Thailand. I read a lots of your books. Now i've big problems about my familjy, they need me to be a teacher in government school but I don't like it. Do you know why, because I want to have my own business. They not agree. I cry every time when we talk about it. Now I'm 24 years old, i worked for school for one year and now I'm teaching Thai for foreigners. I love it but in Surin is not a lot of forienger. Now I would like to open a small shop for healthy drink and teaching but I don't have budget. Could you tell me What should I do? Plese contact me teachthai44@gmail.com
If you're going to encourage your loyal readers to ask questions, are you going to, at some point, take a moment to answer some of their questions?
If you are taking time to answer questions, here is one I could use some help with:
Q: if the country I live in goes bankrupt, what is the likely result of the following:
1. I own business where the services are likely to continue to be in demand
[Thinking: I will be able to continue operating but may have to accept gold as payment?]
2. I own gold and silver
[Thinking: I will be able to sell these once a new currency is established and will experience a high return as a result?]
3. I have cash in a savings account
[Thinking: it will become worthless unless I convert it into an asset before the country goes bankrupt?]
4. I have a job on a fixed wage
You continually speak about financial education and in order to go beyond your books, games and live speaking events to get more financial education I have turned to books from Amazon and am constantly seeking successful business owners and investors to learn from.
What I have yet to encounter is a really good source of information that answers the questions above, mainly, what are the specific results that would take place given the various scenarios above. For example, when Germany's currency crashed or when Argentina's lost most of its value, what impact did that have on business owners?
If anyone reading these posts can provide some insight or point out another source of information on these questions/ideas I would appreciate it.
The industrialized countries aims to overcome the crisis by delaying retirement age. The people who are retiring have already paid for this benefit and if the government continues to squander the revenue will soon be in the same situation that we are now. The problem is fear of the investor to invest because of lack of security, particularly in the construction which is virtually stopped, and fear of the buyers to spend what they have and lose their job, is this the time to buy or not real estate?
It's been a while since I read the first Rich Dad, Poor Dad book but I recall that within the pages of it Robert warns that by the time the 'average' investor catches wind of the next great money maker (eg. the silver he suggested investing in) the boat has probably already left. Is this the case with silver now? Am I too late?
I live in uganda in Africa but the dollar is gaining strenght against the shilling.It is not true that the dollar is losing value which brings me to the subject of gold and silver and their values.Don't you think we(the world) are just indoctrinated that these have value and that when we awake they will be worthless apart from decorating ladies and artist etc?
Should I leave the country or start a business and stay in the country? Or just buy silver? After reading almost all RD books we (me and my wife) have started a business, but I don't know how bad the situation in the country could get? On the one hand the governement is offering incentives to invest in the country and on the other hands investors are living the country?
How can I help my country? Could I have a RD franchise and help people?
How dare "they" call social security an "entitlement" - like we're on the dole of big government. As I see it, I have paid into this fund my entire working life. It is not my fault that those in charge of keeping it safe did just the opposite. How dare they now start talking about reducing benefits and increasing age requirements. It's just like when "they" were telling us to "invest in the stockmarket if you want to retire with any money". "They" then caused the biggest stock market crash in history with all our retirement funds. What in the world have "they" been doing with our social security money????
Robert THANKS so much for your book COR. It is your book that has propelled my husband and I into trying to prepare for the worst and hope for the best.
I've never bought silver or gold, do I just go to the bank and say "hi banker, I want to buy silver"?
Then what do you get? Do you get to take physical silver in your unsecured home or in the safe you have to rent at the bank or just a paper that says you own the metal that is stored somewhere?
Robert your Feb 23rd 2010 post is bang on, everyone needs to learn how the fill the asset side of there balance sheet, because these are the best of times to do this. Lots of people say I dont know how to invest in precious metals or real estate its 80% up to the persons reality and 20% of skills that can easily be learned.
The “conspiracy of the rich” book doesn’t explain how the game can exist. (law jurisdiction)
Jurisdiction and Contracting
In $ociety, I have a "player" a "per$on" (a legal fiction) who gives me the jurisdiction to enter the game... (paper work)
The per$on contracts in commerce Jurisdiction, (maritime admiralty law)
my "player" /per$on is subject to its legislation, statues and acts.
Understanding Jurisdiction is far more important than the "fiat money" game.
Words in a law dictionary have a different meaning, to an English dictionary!!!.
Legalese is the vocabulary of super rich.
I am an avid read of Robert's books. I recently registered on this site but can't read the book. A black screen is all what appears on my screen. What to do?
fallacy:
Short term investments are risky, long term investments are safer
Truth:
1.Any Investment left Passive, & not monitored Actively, is a risky investment.
2. All longterm investments are nothing but the results of many short term decisions not to exit out of the investment at a point in time, for whatever reason.
3. any passive longterm investment fails to take advantage of one of the key dynamic factors driving markets: Price - Volatality. Bankers/ astute professionals are always active investors & unfortunately, financiall ignorant investors are passive investors
4. Any investment that was not profitable, becomes a longterm investment ....Bitter truth:No one likes to realise losses, hence keeps postponing the exit decision & hey, no problem, its a longterm investment.
Previously they used to say that Market forces will take care of this promblem or that problem. Now when they are in loosing position they started crying Bailout , Bailout !?
Its is a foul & should not be accepted.
Can a new regime be evolved.
How its possible ?
how funny the question is, LOL. Anyways, the most stupid question about financial I have heard is that do I still have money for my wedding, and the most stupid answer is that I don't have anymore,haha. So, I have to do lots of essays for my company who offers essay writing services. Nice one!
I read your January China update with interest. I will point out one big problem with the analysis.China has managed 9% growth this last year according to BBC. Aren't we all just closing our eyes to the fact that China is very capable to replace the USA as the leader in the new world economic order. The USA is broke and China holds more USD than anyone else. WHat does this really mean? Please comment, Thanks, Bob
I'm one of your believer about the fact that you have said from your different books. but since then you been tackling about real state and buildings that you been investing and other paper assets. how about farming. I've read some of the prediction that more of the states or other country by next 10 years would have a shortage of agricultural product. so farming would have a great deal to invest, most probably like in our country Philippines. lots of spoiled land we had here in our country.the point was is it near to realm or what?
Robert, I am interested in your take on these preliminary reports that the Obama administration is talking about breaking up the larger banks. It seems the decentralizing the power structure would have an adverse effect on the huge profits; but I can see where maybe the is some desire to restart the competition and merger process. How would a move like this, if it happened, support the conspiracy?
Love you work and found the post on China very interesting. I live in Western Australia and our economy is still booming from mineral exports to China. I have heard talk that China is using it vast USA reserve as credit to build up it's infrastructure. There is also talk that China is getting together with outher powers in the Pacific as well as India and Russia to form an economic block that will leave the USA and Western Europe floundering in recession while they use a crdit system to pull their economies out of the mud. - Any comments
I am a great fan of RICHDAD, and I am live in China. After read the lastest composition wriiten by Robert, I have a lot of thought on the words "chinese ecomonmy boom is over". If it really is over, how can I benefit from it, I want achieve chinese style of "financial freedom" by builting a big fiancial oark, but I don't know how.
To start:
I'm a "newly" licenced Loan officer in Maryland. My uncle owns a Mortgage Company and my entire family has long made their living in the mortgage industry so in short I pretty much followed suit. Without going too much further into it, I see a different path then the rest of the family and I found that path listening to Robert.
I have had first hand exposure to the highs and the lows of capital gains (over cashflow) investing and I can tell you now that "CGI" is NOT the way to do it. I have literally watched my family and most of the people (investors) connected to them make millions and lose it completely. All of it due to a slew of problems from holding property incorrectly (ownership wise), which later lead to excessive tax collections and ate up (most) the profit to spending the money the absolute WRONG way. Yatchs don't pay you very well ;-)and believe Robert in that YOUR personal HOUSE IS NOT AN ASSEST. My father actually, like most and still most that I see everyday, would even put every dime he had into our home plus his own sweat and blood; only to one day literally have the home lose $500,000 in value and eventually end up losing the home. Crazy huh? Now if we would have sold right before the bust, that'd be a little different. But, it still is NOT an asset.
One thing that is positive that I can take from this mess we have been through is that I have learned more in the past 4 years about real-life then I have in my entire 21 years of living. Now this could be what "happens" to young people as they mature into adults and attempt to take the world by storm (hence the saying, "Rude awakening") but I feel that I might have had a decent exposure to a lot of financial issues that most do not get the chance to deal with. Granted these are not my own, but I was priview to the information and learned a great deal.
Sorry, on to my questions:
I have read almost every book that has been put out by the Richdad company and many more from others. I love your books and use the information in them ALL THE TIME to help guide me in my path to attaining solid and true wealth.
In your artical on yahoo when you speak about the loans being called and how, once called, the borrowers may not/ (probably will not) be able to afford the payments. As much as this make sense to me in a general term, I don't quite understand some of the market influences that have "influence" on the index's in which the loans are drawn from. For example, if you look at www.Mortgage-x.com you'll see a list of all of the index's that "ARM" loans were derived from. Some of these include CMT, T- Bills, COFI, LIBOR, CODI, CD, MTA, COSI, W-COSI, RNY, Prime Rate, and Avg Contract Rate.
Now as confusing as it all looks it gets worse. They all are influenced by different markets and each can be tracked. So when you put up that graph of the "mortgages to be called", which type of loan(s) (arm loan(s)) are you talking about? And what influences each?
For some, these Arm's are actually going to adjust down to around 3.5% rates and maybe even less. (Could these be, artifically held down by powers like the Fed Reserve?) If this is the case, the homes will actually become more affordable in the eyes of the homeowner. So what in the world controls the seperate market indexs that these Arm loans have been drawn from?
(Seems like an LO should know these things but we don't. NO where in our education are we taught how things work. More like, learn how to read what the banks ask you to sell (a rate sheet) and learn how to up sell the rates so you can make a profit yourself. O and make sure to stay with-in the countless rules and regulations so you are in compliance. Worse then that, the people acting on behave of the actual lender are NOT required to get the same education as we do or go through the compliance hoops we must. Its weird how that works. And who is being pintched right now?, the ones with the most knowledge, brokers. It's seems in any profession, the more you know the less you make. This is my reason for getting out and entering the "Investment world")
Pretty much after showing my uncle your artical and having him explain a few things, I know there has to be more to how this is being analysed and how you are forming your opinion because as it stands, it seems as if the rates for a good bit of the loans would actually drop.
Now when (not if) the Fed Reserve stops buying the mortgage securities from wall street, what will this do to these Arms? Will the ones tied cause rates to soar high and cause the payments to be too high to afford? Will the "real" mass forclosures hit then?
And when the rates do soar, what will happen to home values? My guess is they will drop 20-30%... more. (and this is when my personal plan is to begin purchasing as many cashflow positive properties as I can. The time is soon ;-))
I'm going to stop babeling and leave it at that. Can you please explain a little about the subject as it pertains to the Graph you posted, Arm loans, and the market influences that you use/see causing these indexs to shift upward and pushing homeowners out?
I'd like to comment on www.conspiracyoftherich.com/exclusive-4.
The question -- What should I do with my 401(k) money -- doesn't seem stupid at all.
This question was probably asked in early March 2009, and the 401(k) was probably invested 100% in US large cap stocks, and the plan was probably down 60% from October 2007. We are not given that information in the chapter -- so I can only guess.
The answer given in that chapter also seems to imply that the plan was invested 100% in stocks. That would be a stupid thing, as it would be a stupid thing to invest 100% of your money in any single asset class: even if you have no financial education, you know that you shouldn't put all your eggs in one basket.
Robert doesn't really offer an answer to the (not-so-stupid) question: What should I do? But he seems to suggest that zero % of that person's savings should be in stocks (at least at the time the question was asked). The reason would be that the stock market is a bad place to invest because it is so liquid: a large amount of money can exit the market in seconds, and wipe out one's long-term savings.
Actually, here is where a little bit of financial education can come in handy: in a liquid market one can buy and sell, even in large quantities, without impacting prices. Being the most liquid market, the stock market is where a lot of big investors can sell without impacting market prices by their actions.
This, of course, does not mean that the stock market should never go down: it tells you that, if the stock market goes down (as it did in 2008), it is not because it is liquid.
The stock market is very volatile -- more than most financial planners are willing to admit -- but this does not mean that 401(k) plans should allocate zero % of their assets to stocks.
What a non-stupid answer to the given question should have said is: first of all, diversify, don't invest 100% of your money in one asset class (be it stocks or Madoff feeder funds).
Robert is supposed to offer an intelligent answer to the question -- what should I do with my 401(k)? -- but he doesn't even begin to answer *that* question. He only points out how stupid that person and his financial planner are.
If no money should be allocated to the stock market because it is too volatile (or too liquid), then where should the money be invested? Wasn't that the question?
The first thing to say in a non-stupid answer is: the mistake was that you allocated all your money to one asset class. This is wrong, no matter the asset class. If I put all my money in T-bills, I have hardly solved my investing problems: I would reduce volatility, but I would under-perform inflation, and the purchasing power of my savings will diminish. However, investing is all about maintaining or increasing purchasing power, that is: making money after inflation.
This is only the beginning of a non-stupid answer: diversify. Then, the responsible financial planner has to explain: diversify into which asset classes? in which proportions? how should the allocation be adjusted over time?
In summary: the question was not a stupid one; the answer given by the financial advisor in the story was indeed stupid, but not for the reasons Robert mentions. And Robert doesn't offer any viable answer either: that person is left wondering what to do with (what is left of) his 401(k) plan.
Dino Sola
Are you willing to get out of all the competition?
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I thoroughly enjoyed your lastest article on inflation/deflation scenarios. One question though, does Australia fall with America or the rest of the world, or maybe somewhere between. I ask because I'm looking at buying an nvestment property in the new few months and asset deflation threats may change that idea...
wait and see if the law for legalizing marijuana in california passes...
and if it does invest in that.... marijuana is a substance that a great percentage of california uses....
Robert - I have read in earnest your newest book as well as all others and am thoroughly convinced about cash flow...recently started a yoga business that I intend to make into a passive income vehicle, and am searching for cash flow properties. In addition, I have 200K in a self directed 401K that I moved out of mutual funds two years ago, plus 330K in cash from selling my primary residence in August. Both are settled in money market bank accounts...too risky and poor income generators! I want to leverage some of the money for investments, and some as a hedge against the dollar, buy buying gold and silver. I have a solid education in trading the stock market and would be more adept at buying gold, silver and perhaps oil drilling stocks rather than actual commodities (I dont even know where to buy these commodities or where to hold them!) so my question is: are gold/silver/oil drilling stocks as good a hedge against the devaluation of the dollar as commodities themselves?
I like your advice. The decision to refinance is not easy. I am glad that this website exists because now I know there are more people who want to raise their financial IQ.
I HAVE HEARD FROM SOME FINANCIAL BROCKERS IN STATE, THE 2010 IS GOING TO BE WORST ON THE COMMERCIAL MORGAGE AND THIS WOULD BE A COLAPS ON THE MARKETS, IS THIS RIGHT?
In talking about purchasing gold and silver at least 3 people have told me to wait until the beginning of 2010. Can you explain why I am getting this advice?
Ive heard so many stupid questions and answers but heres one...
I was sitting in a meeting and it was more of a sales type training and this company helps people with selling insurance, loans and putting peoples money into mutual funds. I really liked the company because they were in the business to help people straighten up their financial house, but I don't like mutual funds, its like me asking the mob to hold on to my money for retirement? So in this meeting this one speaker was commenting on R. Kiyosaki "Rich Dad Prophecy" saying RK doesn't know what he's talking about in "Rich Dad Prophecy the stock market isn't going to crash" I was like what! The Speaker was responding to a question where people in the room who were concerned about getting clients to put their hard earned money into a mutual-fund that would only end up crashing. The speaker believed in the "invest for the long term crap". Now I know this speaker he's a really nice guy, but when i asked him if he's ever traded stock or options he told me "no". Now why would he defend and tell people to put money into a "poisonous mutual-fund" and has had no experience in the stock market? I personally spent a lot of time studying the history and demographics and the stuff that goes on behind the scenes so i hopefully don't get screwed like the mutual fund folks, I like trading but over all i like covered calls, its like renting out stock for "cash-flow". I believe to keep our minds open to keep learning and not instead defend my opinion while screwing others for a pay check.
Thanks Robert Kiyosaki keep up the great work, love the COR book.
ALOHA FROM KAIMUKI HAWAII
I am reading "A Conflict of Visions" by Thomas Sowell, which describes why Ben Bernanke (along with many other true believers) actually thinks the Fed can fix things. They have an unconstrained vision which leads them to look for solutions created by highly educated individuals (think Ivy league professors). Those of us who tend to be called conservatives think the average citizens are collectively better qualified to decide how to run our lives and our government than any small group of elite thinkers.
This book provides the philosophical underpinnings for much of what Robert teaches in Conspiracy. It doesn't address the Fed specifically or other current events, but it explains why there is a propensity for one group (liberals) to try to create huge bills to solve problems, not recognizing the unintended consequences.
Is now an O K time to buy a home in Edmonton, Alberta, Canada??
I ask this question because many of the problems that have hit the rest of the USA and Canada have not hit us as hard. Our unemployment is higher then it was 18 months ago. Yet we have the second largest oil reserves in the world and that may cause a counter depression boom again, maybe.
My feeling is NOT to buy, right now, because the home prices are really high, if one was to look at them with a 5%, 7% or even 10% mortgage interest rate, then very few people would be able to afford the houses at their current prices, over $225 a square foot. The payments are low because people can get mortgages for 0.25%-3.00%. If mortgages rates jump up I think people are going to be tight pressed to make the mortgage payment.
Second belief is that house prices will fall as there becomes a glut of houses on the market due to defaults, which I think will mirror the pattern of the ARM mortgages in the USA.
Third is that prices dropped 20-25% last year and we are being told that they have rebounded, and that they will continue to go up.
Forth Some of my friends and family say that if you buy for the long term you should be O K, yet I am worried about being upside down in a home.
Fifth My rent is cheaper then owning a home, wasn't there a time when owning a home was a break even or save money deal and that is why many people wanted to buy a home. On this note should I buy if the payments are going to be more then rent? Building home equity and all of the that sort of stuff?
Any insights or comments on this matter would be greatly appreciated.
Again Robert you are very astute in realizing that Dubai is covering Debt with Debt. They will definately find a way to take care of themselves.
Be careful, your honesty is sharp and cutting but not everyone likes the truth.
Keep up the good work. We as a COR community will support you.
In reading Robert's latest chapter, I thought he made a very valid observation regarding the timing of Dubai's 'financial crisis' announcement when the US and some Muslim nations were beginning holiday seasons.
This made me ponder a 'conspiracy of the press'; in that the Tiger Woods 'drama' began on the day after Thanksgiving in the US, and has since dominated the media to date. A great smokescreen for the announcement of financial defaults.
Is Now a Dangerous time to Invest in Cashflowing Property??
Please offer your thoughts on this important question?
Hi Robert and fellow subscribers - I have always been a true believer in investing in cashflowing property and am currently doing the advanced property training with the Rich Dad group over in the UK (I live in Australia and interested in investing in the US and back home also). I have studied all of your material closely - so am very familiar with the wealthy mindsets and strategies needed in today's fiat currency world to grow wealth. I have put much thought into this question - but haven't yet drawn my own conclusion.
Everyone over here seems to think that we have seen the bottom of the crisis (and the property market) and now is the time to be an active investor. Even though I am eager to invest for cashflow - my gut feeling is very different!!
All you have to do is look at all our government's money printing, debt levels and servicing commitments required in the future and you quickly feel that we have only touched the surface of this crisis. Most people don't seem to be taking these sign posts seriously. Or maybe I am over cautious??
With the economic storms that in my opinion are still brewing strongly over the debt ridden world, I am concerned that we may still see more serious drops in property prices and possibly also rents if unemployment continues to increase.
Can investing (using mostly debt) right now in the residential markets such as the UK, Aus and even the US be bad timing given what's around the corner?
I am currently investing my savings in silver and some gold - but would like to use own property for tax effective income. As i already have invested my savings where I want them - I would want to be using leverage for property investment - which is why I am cautious about further downside risk.
Robert - given that this is your favourite asset investment, do you offer any caution for property investors who are using mostly debt to get into property? Are we exposing ourselves to further corrections at this point in time?
I apologise for the long thread - but would really appreciate everyone's comments as this scenario relates to many of us.
Regards,
Ben
My brother in law's 401k has now about $ 70000. We are thinking of using it to transfer it to gold and silver, as Michael Maloney recomends. Do you think we'll go fine with that, what could you recommend us?
I believe that if you get back to the basics of money-making, you will find that it's all psychological. Money is not a number or dollar sign in the bank. Money is not a scarce resource because it's not real. The bottom line is: stop blaming money for your core emotional issues relating to what the subject ( or idea) that money has been in your life. Change your psychological viewpoint, period!
The first clue you shouldn't listen to Cramer is that his information is publicly available for the masses on TV. He's there for entertainment purposes only! I respect that he is a highly successful S quadrant person & hustler..if anything you should learn from his hustle not his stock picks...
I think its sad that most people are struggling day to day in this society that seem like it's only goal is to get the financially unintelligent into a enslavement of bad debt. I think the stupid questions are the ones not asked!
Do you want to see people really MAD AS HELL? When the bond bubble pops, when shortages in America are an every day part of life, when inflation tops 15% annually, when gold tops $3,000 ounce, when food riots hit, when the society we know is gone (like happened in the 1930's) and when taxes (income, Social Security, Medicare, state, green, health, etc, etc) continue to explode while small businesses decline and our standard of living gets broadsided ...
...
... THEN you'll see all of America MAD AS HELL!
CNBC’s Jim Cramer is having a bad year. Being listed as #7 on Mad magazine’s twenty dumbest people for 2009 isn’t helping.
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Robert please understand all these financial news channels of the likes of CNBC and to some extent Fox Biz and nothing more than "Pump & Dump" outlets, IMO.
Cramer is just the most obverse one.
I've been watching CNBC since it started and it has not let up, in its heyday this was really fun. I'm surprised more people have not pointed this out.
I watch Bloomberg these days, a tad boring at times I must admit, but a heck of allot easier on the ears.
1.i just do not understand why AUS dollar is keep going up?
2.i knew from the news that local gov increase the interest rate because of up coming event such new year nad boxing day in aus,
3.is it the only reason they increase the interest rate?
4.can we say that this crisis happen becuase of the price our energy and oil that AUS and USA dont have control about it ?
5. can someone explain to me in detail what happen if us keep printing money ,and what the relation with increase interest rate and falling share price and what happen with people, who works for money ? i just get confuse and really want to know the real case,
6.if the us dollar is the reserve for world back why dont us gov print the money and repay their debt to other country ?
Sandyta asks -: "I have a question should I refinance a home with a local credit union? I purchased the home with seller financing and seller is willing to decrease 10k from principal if I refinance or should I get rid of it and move to Europe?"
There is far more to moving to a different country than the just the price of your home.
Where do you earn the most?,
Where do you save the most?
Where can you find the best investment deals for those savings?
Where are you more comfortable living?
Frankly, it will take weeks or even months of intense discussion within your family to decide.
As to the seller's offer to reduce the principal by 10K if you refinance. The less you pay for your liabilities, the more you have available for buying assets. So at a time when interest rates are low, you should refinance your liabilities, not just to reduce payments but also to increase funds available for investment.
Is that offer a good deal? Investigate alternatives, What if you refy with a bank? Will that cost you less or more than this offer? And remember the main reason to refinance liabilities (like your home) is to free up more of your income for investment purposes.
I agree with Mr. Kiyosaki comments and I immensly enjoyed reading COR.
We cannot be dependent on the government:{
We have to increase our financial IQ! ;)
I have a question should I refinance a home with a local credit union? I purchased the home with seller financing and seller is willing to decrease 10k from principal if I refinance or should I get rid of it and move to Europe?
Dear Robert Kiyosaki.
I'm from Kazakhstan and I was read your book "Rich dad, poor dad".
And I want to buy the game "Cashflow" in Russian lunguage. Please, tell me, how can I buy this game?
Thanks.
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I'm Jap, I'm from Thailand. I read a lots of your books. Now i've big problems about my familjy, they need me to be a teacher in government school but I don't like it. Do you know why, because I want to have my own business. They not agree. I cry every time when we talk about it. Now I'm 24 years old, i worked for school for one year and now I'm teaching Thai for foreigners. I love it but in Surin is not a lot of forienger. Now I would like to open a small shop for healthy drink and teaching but I don't have budget. Could you tell me What should I do? Plese contact me teachthai44@gmail.com
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Robert,
If you're going to encourage your loyal readers to ask questions, are you going to, at some point, take a moment to answer some of their questions?
If you are taking time to answer questions, here is one I could use some help with:
Q: if the country I live in goes bankrupt, what is the likely result of the following:
1. I own business where the services are likely to continue to be in demand
[Thinking: I will be able to continue operating but may have to accept gold as payment?]
2. I own gold and silver
[Thinking: I will be able to sell these once a new currency is established and will experience a high return as a result?]
3. I have cash in a savings account
[Thinking: it will become worthless unless I convert it into an asset before the country goes bankrupt?]
4. I have a job on a fixed wage
You continually speak about financial education and in order to go beyond your books, games and live speaking events to get more financial education I have turned to books from Amazon and am constantly seeking successful business owners and investors to learn from.
What I have yet to encounter is a really good source of information that answers the questions above, mainly, what are the specific results that would take place given the various scenarios above. For example, when Germany's currency crashed or when Argentina's lost most of its value, what impact did that have on business owners?
If anyone reading these posts can provide some insight or point out another source of information on these questions/ideas I would appreciate it.
The industrialized countries aims to overcome the crisis by delaying retirement age. The people who are retiring have already paid for this benefit and if the government continues to squander the revenue will soon be in the same situation that we are now. The problem is fear of the investor to invest because of lack of security, particularly in the construction which is virtually stopped, and fear of the buyers to spend what they have and lose their job, is this the time to buy or not real estate?
It's been a while since I read the first Rich Dad, Poor Dad book but I recall that within the pages of it Robert warns that by the time the 'average' investor catches wind of the next great money maker (eg. the silver he suggested investing in) the boat has probably already left. Is this the case with silver now? Am I too late?
I live in uganda in Africa but the dollar is gaining strenght against the shilling.It is not true that the dollar is losing value which brings me to the subject of gold and silver and their values.Don't you think we(the world) are just indoctrinated that these have value and that when we awake they will be worthless apart from decorating ladies and artist etc?
Should I leave the country or start a business and stay in the country? Or just buy silver? After reading almost all RD books we (me and my wife) have started a business, but I don't know how bad the situation in the country could get? On the one hand the governement is offering incentives to invest in the country and on the other hands investors are living the country?
How can I help my country? Could I have a RD franchise and help people?
How dare "they" call social security an "entitlement" - like we're on the dole of big government. As I see it, I have paid into this fund my entire working life. It is not my fault that those in charge of keeping it safe did just the opposite. How dare they now start talking about reducing benefits and increasing age requirements. It's just like when "they" were telling us to "invest in the stockmarket if you want to retire with any money". "They" then caused the biggest stock market crash in history with all our retirement funds. What in the world have "they" been doing with our social security money????
Robert THANKS so much for your book COR. It is your book that has propelled my husband and I into trying to prepare for the worst and hope for the best.
http://www.youtube.com/watch?v=eAaQNACwaLw
The link above is a theory that it doesn't matter if it's a republican or a democrat in office and the message is frightening at best.
What to do?
I've never bought silver or gold, do I just go to the bank and say "hi banker, I want to buy silver"?
Then what do you get? Do you get to take physical silver in your unsecured home or in the safe you have to rent at the bank or just a paper that says you own the metal that is stored somewhere?
Robert your Feb 23rd 2010 post is bang on, everyone needs to learn how the fill the asset side of there balance sheet, because these are the best of times to do this. Lots of people say I dont know how to invest in precious metals or real estate its 80% up to the persons reality and 20% of skills that can easily be learned.
The “conspiracy of the rich” book doesn’t explain how the game can exist. (law jurisdiction)
Jurisdiction and Contracting
In $ociety, I have a "player" a "per$on" (a legal fiction) who gives me the jurisdiction to enter the game... (paper work)
The per$on contracts in commerce Jurisdiction, (maritime admiralty law)
my "player" /per$on is subject to its legislation, statues and acts.
Understanding Jurisdiction is far more important than the "fiat money" game.
Words in a law dictionary have a different meaning, to an English dictionary!!!.
Legalese is the vocabulary of super rich.
Regards
I am an avid read of Robert's books. I recently registered on this site but can't read the book. A black screen is all what appears on my screen. What to do?
sharad
fallacy:
Short term investments are risky, long term investments are safer
Truth:
1.Any Investment left Passive, & not monitored Actively, is a risky investment.
2. All longterm investments are nothing but the results of many short term decisions not to exit out of the investment at a point in time, for whatever reason.
3. any passive longterm investment fails to take advantage of one of the key dynamic factors driving markets: Price - Volatality. Bankers/ astute professionals are always active investors & unfortunately, financiall ignorant investors are passive investors
4. Any investment that was not profitable, becomes a longterm investment ....Bitter truth:No one likes to realise losses, hence keeps postponing the exit decision & hey, no problem, its a longterm investment.
Previously they used to say that Market forces will take care of this promblem or that problem. Now when they are in loosing position they started crying Bailout , Bailout !?
Its is a foul & should not be accepted.
Can a new regime be evolved.
How its possible ?
how funny the question is, LOL. Anyways, the most stupid question about financial I have heard is that do I still have money for my wedding, and the most stupid answer is that I don't have anymore,haha. So, I have to do lots of essays for my company who offers essay writing services. Nice one!
I'm going to buy some sauce,It's none of your Business
Really appreciate this post. It’s hard to sort the good from the bad sometimes, but I think you’ve nailed it!
Jack,
aussie credit cards
I read your January China update with interest. I will point out one big problem with the analysis.China has managed 9% growth this last year according to BBC. Aren't we all just closing our eyes to the fact that China is very capable to replace the USA as the leader in the new world economic order. The USA is broke and China holds more USD than anyone else. WHat does this really mean? Please comment, Thanks, Bob
I'm one of your believer about the fact that you have said from your different books. but since then you been tackling about real state and buildings that you been investing and other paper assets. how about farming. I've read some of the prediction that more of the states or other country by next 10 years would have a shortage of agricultural product. so farming would have a great deal to invest, most probably like in our country Philippines. lots of spoiled land we had here in our country.the point was is it near to realm or what?
Robert, I am interested in your take on these preliminary reports that the Obama administration is talking about breaking up the larger banks. It seems the decentralizing the power structure would have an adverse effect on the huge profits; but I can see where maybe the is some desire to restart the competition and merger process. How would a move like this, if it happened, support the conspiracy?
Love you work and found the post on China very interesting. I live in Western Australia and our economy is still booming from mineral exports to China. I have heard talk that China is using it vast USA reserve as credit to build up it's infrastructure. There is also talk that China is getting together with outher powers in the Pacific as well as India and Russia to form an economic block that will leave the USA and Western Europe floundering in recession while they use a crdit system to pull their economies out of the mud. - Any comments
I am a great fan of RICHDAD, and I am live in China. After read the lastest composition wriiten by Robert, I have a lot of thought on the words "chinese ecomonmy boom is over". If it really is over, how can I benefit from it, I want achieve chinese style of "financial freedom" by builting a big fiancial oark, but I don't know how.
The artical I'm referring to can be found at this link...
http://finance.yahoo.com/expert/article/richricher/211091;_ylt=Auf82MjK3...
To start:
I'm a "newly" licenced Loan officer in Maryland. My uncle owns a Mortgage Company and my entire family has long made their living in the mortgage industry so in short I pretty much followed suit. Without going too much further into it, I see a different path then the rest of the family and I found that path listening to Robert.
I have had first hand exposure to the highs and the lows of capital gains (over cashflow) investing and I can tell you now that "CGI" is NOT the way to do it. I have literally watched my family and most of the people (investors) connected to them make millions and lose it completely. All of it due to a slew of problems from holding property incorrectly (ownership wise), which later lead to excessive tax collections and ate up (most) the profit to spending the money the absolute WRONG way. Yatchs don't pay you very well ;-)and believe Robert in that YOUR personal HOUSE IS NOT AN ASSEST. My father actually, like most and still most that I see everyday, would even put every dime he had into our home plus his own sweat and blood; only to one day literally have the home lose $500,000 in value and eventually end up losing the home. Crazy huh? Now if we would have sold right before the bust, that'd be a little different. But, it still is NOT an asset.
One thing that is positive that I can take from this mess we have been through is that I have learned more in the past 4 years about real-life then I have in my entire 21 years of living. Now this could be what "happens" to young people as they mature into adults and attempt to take the world by storm (hence the saying, "Rude awakening") but I feel that I might have had a decent exposure to a lot of financial issues that most do not get the chance to deal with. Granted these are not my own, but I was priview to the information and learned a great deal.
Sorry, on to my questions:
I have read almost every book that has been put out by the Richdad company and many more from others. I love your books and use the information in them ALL THE TIME to help guide me in my path to attaining solid and true wealth.
In your artical on yahoo when you speak about the loans being called and how, once called, the borrowers may not/ (probably will not) be able to afford the payments. As much as this make sense to me in a general term, I don't quite understand some of the market influences that have "influence" on the index's in which the loans are drawn from. For example, if you look at www.Mortgage-x.com you'll see a list of all of the index's that "ARM" loans were derived from. Some of these include CMT, T- Bills, COFI, LIBOR, CODI, CD, MTA, COSI, W-COSI, RNY, Prime Rate, and Avg Contract Rate.
Now as confusing as it all looks it gets worse. They all are influenced by different markets and each can be tracked. So when you put up that graph of the "mortgages to be called", which type of loan(s) (arm loan(s)) are you talking about? And what influences each?
For some, these Arm's are actually going to adjust down to around 3.5% rates and maybe even less. (Could these be, artifically held down by powers like the Fed Reserve?) If this is the case, the homes will actually become more affordable in the eyes of the homeowner. So what in the world controls the seperate market indexs that these Arm loans have been drawn from?
(Seems like an LO should know these things but we don't. NO where in our education are we taught how things work. More like, learn how to read what the banks ask you to sell (a rate sheet) and learn how to up sell the rates so you can make a profit yourself. O and make sure to stay with-in the countless rules and regulations so you are in compliance. Worse then that, the people acting on behave of the actual lender are NOT required to get the same education as we do or go through the compliance hoops we must. Its weird how that works. And who is being pintched right now?, the ones with the most knowledge, brokers. It's seems in any profession, the more you know the less you make. This is my reason for getting out and entering the "Investment world")
Pretty much after showing my uncle your artical and having him explain a few things, I know there has to be more to how this is being analysed and how you are forming your opinion because as it stands, it seems as if the rates for a good bit of the loans would actually drop.
Now when (not if) the Fed Reserve stops buying the mortgage securities from wall street, what will this do to these Arms? Will the ones tied cause rates to soar high and cause the payments to be too high to afford? Will the "real" mass forclosures hit then?
And when the rates do soar, what will happen to home values? My guess is they will drop 20-30%... more. (and this is when my personal plan is to begin purchasing as many cashflow positive properties as I can. The time is soon ;-))
I'm going to stop babeling and leave it at that. Can you please explain a little about the subject as it pertains to the Graph you posted, Arm loans, and the market influences that you use/see causing these indexs to shift upward and pushing homeowners out?
I appreciate your help,
Alex
I'd like to comment on www.conspiracyoftherich.com/exclusive-4.
The question -- What should I do with my 401(k) money -- doesn't seem stupid at all.
This question was probably asked in early March 2009, and the 401(k) was probably invested 100% in US large cap stocks, and the plan was probably down 60% from October 2007. We are not given that information in the chapter -- so I can only guess.
The answer given in that chapter also seems to imply that the plan was invested 100% in stocks. That would be a stupid thing, as it would be a stupid thing to invest 100% of your money in any single asset class: even if you have no financial education, you know that you shouldn't put all your eggs in one basket.
Robert doesn't really offer an answer to the (not-so-stupid) question: What should I do? But he seems to suggest that zero % of that person's savings should be in stocks (at least at the time the question was asked). The reason would be that the stock market is a bad place to invest because it is so liquid: a large amount of money can exit the market in seconds, and wipe out one's long-term savings.
Actually, here is where a little bit of financial education can come in handy: in a liquid market one can buy and sell, even in large quantities, without impacting prices. Being the most liquid market, the stock market is where a lot of big investors can sell without impacting market prices by their actions.
This, of course, does not mean that the stock market should never go down: it tells you that, if the stock market goes down (as it did in 2008), it is not because it is liquid.
The stock market is very volatile -- more than most financial planners are willing to admit -- but this does not mean that 401(k) plans should allocate zero % of their assets to stocks.
What a non-stupid answer to the given question should have said is: first of all, diversify, don't invest 100% of your money in one asset class (be it stocks or Madoff feeder funds).
Robert is supposed to offer an intelligent answer to the question -- what should I do with my 401(k)? -- but he doesn't even begin to answer *that* question. He only points out how stupid that person and his financial planner are.
If no money should be allocated to the stock market because it is too volatile (or too liquid), then where should the money be invested? Wasn't that the question?
The first thing to say in a non-stupid answer is: the mistake was that you allocated all your money to one asset class. This is wrong, no matter the asset class. If I put all my money in T-bills, I have hardly solved my investing problems: I would reduce volatility, but I would under-perform inflation, and the purchasing power of my savings will diminish. However, investing is all about maintaining or increasing purchasing power, that is: making money after inflation.
This is only the beginning of a non-stupid answer: diversify. Then, the responsible financial planner has to explain: diversify into which asset classes? in which proportions? how should the allocation be adjusted over time?
In summary: the question was not a stupid one; the answer given by the financial advisor in the story was indeed stupid, but not for the reasons Robert mentions. And Robert doesn't offer any viable answer either: that person is left wondering what to do with (what is left of) his 401(k) plan.
Dino Sola
Are you willing to get out of all the competition?
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Hi Rob,
I thoroughly enjoyed your lastest article on inflation/deflation scenarios. One question though, does Australia fall with America or the rest of the world, or maybe somewhere between. I ask because I'm looking at buying an nvestment property in the new few months and asset deflation threats may change that idea...
wait and see if the law for legalizing marijuana in california passes...
and if it does invest in that.... marijuana is a substance that a great percentage of california uses....
Robert - I have read in earnest your newest book as well as all others and am thoroughly convinced about cash flow...recently started a yoga business that I intend to make into a passive income vehicle, and am searching for cash flow properties. In addition, I have 200K in a self directed 401K that I moved out of mutual funds two years ago, plus 330K in cash from selling my primary residence in August. Both are settled in money market bank accounts...too risky and poor income generators! I want to leverage some of the money for investments, and some as a hedge against the dollar, buy buying gold and silver. I have a solid education in trading the stock market and would be more adept at buying gold, silver and perhaps oil drilling stocks rather than actual commodities (I dont even know where to buy these commodities or where to hold them!) so my question is: are gold/silver/oil drilling stocks as good a hedge against the devaluation of the dollar as commodities themselves?
Togetherness brings out force
I like your advice. The decision to refinance is not easy. I am glad that this website exists because now I know there are more people who want to raise their financial IQ.
I HAVE HEARD FROM SOME FINANCIAL BROCKERS IN STATE, THE 2010 IS GOING TO BE WORST ON THE COMMERCIAL MORGAGE AND THIS WOULD BE A COLAPS ON THE MARKETS, IS THIS RIGHT?
In talking about purchasing gold and silver at least 3 people have told me to wait until the beginning of 2010. Can you explain why I am getting this advice?
I was sitting in a meeting and it was more of a sales type training and this company helps people with selling insurance, loans and putting peoples money into mutual funds. I really liked the company because they were in the business to help people straighten up their financial house, but I don't like mutual funds, its like me asking the mob to hold on to my money for retirement? So in this meeting this one speaker was commenting on R. Kiyosaki "Rich Dad Prophecy" saying RK doesn't know what he's talking about in "Rich Dad Prophecy the stock market isn't going to crash" I was like what! The Speaker was responding to a question where people in the room who were concerned about getting clients to put their hard earned money into a mutual-fund that would only end up crashing. The speaker believed in the "invest for the long term crap". Now I know this speaker he's a really nice guy, but when i asked him if he's ever traded stock or options he told me "no". Now why would he defend and tell people to put money into a "poisonous mutual-fund" and has had no experience in the stock market? I personally spent a lot of time studying the history and demographics and the stuff that goes on behind the scenes so i hopefully don't get screwed like the mutual fund folks, I like trading but over all i like covered calls, its like renting out stock for "cash-flow". I believe to keep our minds open to keep learning and not instead defend my opinion while screwing others for a pay check.
Thanks Robert Kiyosaki keep up the great work, love the COR book.
ALOHA FROM KAIMUKI HAWAII
I am reading "A Conflict of Visions" by Thomas Sowell, which describes why Ben Bernanke (along with many other true believers) actually thinks the Fed can fix things. They have an unconstrained vision which leads them to look for solutions created by highly educated individuals (think Ivy league professors). Those of us who tend to be called conservatives think the average citizens are collectively better qualified to decide how to run our lives and our government than any small group of elite thinkers.
This book provides the philosophical underpinnings for much of what Robert teaches in Conspiracy. It doesn't address the Fed specifically or other current events, but it explains why there is a propensity for one group (liberals) to try to create huge bills to solve problems, not recognizing the unintended consequences.
I ask this question because many of the problems that have hit the rest of the USA and Canada have not hit us as hard. Our unemployment is higher then it was 18 months ago. Yet we have the second largest oil reserves in the world and that may cause a counter depression boom again, maybe.
My feeling is NOT to buy, right now, because the home prices are really high, if one was to look at them with a 5%, 7% or even 10% mortgage interest rate, then very few people would be able to afford the houses at their current prices, over $225 a square foot. The payments are low because people can get mortgages for 0.25%-3.00%. If mortgages rates jump up I think people are going to be tight pressed to make the mortgage payment.
Second belief is that house prices will fall as there becomes a glut of houses on the market due to defaults, which I think will mirror the pattern of the ARM mortgages in the USA.
Third is that prices dropped 20-25% last year and we are being told that they have rebounded, and that they will continue to go up.
Forth Some of my friends and family say that if you buy for the long term you should be O K, yet I am worried about being upside down in a home.
Fifth My rent is cheaper then owning a home, wasn't there a time when owning a home was a break even or save money deal and that is why many people wanted to buy a home. On this note should I buy if the payments are going to be more then rent? Building home equity and all of the that sort of stuff?
Any insights or comments on this matter would be greatly appreciated.
Thanks
J C Steele
Again Robert you are very astute in realizing that Dubai is covering Debt with Debt. They will definately find a way to take care of themselves.
Be careful, your honesty is sharp and cutting but not everyone likes the truth.
Keep up the good work. We as a COR community will support you.
In reading Robert's latest chapter, I thought he made a very valid observation regarding the timing of Dubai's 'financial crisis' announcement when the US and some Muslim nations were beginning holiday seasons.
This made me ponder a 'conspiracy of the press'; in that the Tiger Woods 'drama' began on the day after Thanksgiving in the US, and has since dominated the media to date. A great smokescreen for the announcement of financial defaults.
Please offer your thoughts on this important question?
Hi Robert and fellow subscribers - I have always been a true believer in investing in cashflowing property and am currently doing the advanced property training with the Rich Dad group over in the UK (I live in Australia and interested in investing in the US and back home also). I have studied all of your material closely - so am very familiar with the wealthy mindsets and strategies needed in today's fiat currency world to grow wealth. I have put much thought into this question - but haven't yet drawn my own conclusion.
Everyone over here seems to think that we have seen the bottom of the crisis (and the property market) and now is the time to be an active investor. Even though I am eager to invest for cashflow - my gut feeling is very different!!
All you have to do is look at all our government's money printing, debt levels and servicing commitments required in the future and you quickly feel that we have only touched the surface of this crisis. Most people don't seem to be taking these sign posts seriously. Or maybe I am over cautious??
With the economic storms that in my opinion are still brewing strongly over the debt ridden world, I am concerned that we may still see more serious drops in property prices and possibly also rents if unemployment continues to increase.
Can investing (using mostly debt) right now in the residential markets such as the UK, Aus and even the US be bad timing given what's around the corner?
I am currently investing my savings in silver and some gold - but would like to use own property for tax effective income. As i already have invested my savings where I want them - I would want to be using leverage for property investment - which is why I am cautious about further downside risk.
Robert - given that this is your favourite asset investment, do you offer any caution for property investors who are using mostly debt to get into property? Are we exposing ourselves to further corrections at this point in time?
I apologise for the long thread - but would really appreciate everyone's comments as this scenario relates to many of us.
Regards,
Ben
Hi Robert.
My brother in law's 401k has now about $ 70000. We are thinking of using it to transfer it to gold and silver, as Michael Maloney recomends. Do you think we'll go fine with that, what could you recommend us?
Thank you.
I believe that if you get back to the basics of money-making, you will find that it's all psychological. Money is not a number or dollar sign in the bank. Money is not a scarce resource because it's not real. The bottom line is: stop blaming money for your core emotional issues relating to what the subject ( or idea) that money has been in your life. Change your psychological viewpoint, period!
The first clue you shouldn't listen to Cramer is that his information is publicly available for the masses on TV. He's there for entertainment purposes only! I respect that he is a highly successful S quadrant person & hustler..if anything you should learn from his hustle not his stock picks...
Lawrence
aka ranknoodle
I think its sad that most people are struggling day to day in this society that seem like it's only goal is to get the financially unintelligent into a enslavement of bad debt. I think the stupid questions are the ones not asked!
Keep up the good work Robert!
Chris
--------
City Auto
Do you want to see people really MAD AS HELL? When the bond bubble pops, when shortages in America are an every day part of life, when inflation tops 15% annually, when gold tops $3,000 ounce, when food riots hit, when the society we know is gone (like happened in the 1930's) and when taxes (income, Social Security, Medicare, state, green, health, etc, etc) continue to explode while small businesses decline and our standard of living gets broadsided ...
...
... THEN you'll see all of America MAD AS HELL!
CNBC’s Jim Cramer is having a bad year. Being listed as #7 on Mad magazine’s twenty dumbest people for 2009 isn’t helping.
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Robert please understand all these financial news channels of the likes of CNBC and to some extent Fox Biz and nothing more than "Pump & Dump" outlets, IMO.
Cramer is just the most obverse one.
I've been watching CNBC since it started and it has not let up, in its heyday this was really fun. I'm surprised more people have not pointed this out.
I watch Bloomberg these days, a tad boring at times I must admit, but a heck of allot easier on the ears.
Keep up the good work.
mar.
I am a small investor interested in silver.
Just wonder shall I just go for silver deposit accounts at prevailing market prices or storing bullion silver is a better pick for me?
Hi Mr. kiyosaki
I have stupid question going on in my head,
1.i just do not understand why AUS dollar is keep going up?
2.i knew from the news that local gov increase the interest rate because of up coming event such new year nad boxing day in aus,
3.is it the only reason they increase the interest rate?
4.can we say that this crisis happen becuase of the price our energy and oil that AUS and USA dont have control about it ?
5. can someone explain to me in detail what happen if us keep printing money ,and what the relation with increase interest rate and falling share price and what happen with people, who works for money ? i just get confuse and really want to know the real case,
6.if the us dollar is the reserve for world back why dont us gov print the money and repay their debt to other country ?
Thank you.
Regards,
Oliver bernard
Sandyta asks -: "I have a question should I refinance a home with a local credit union? I purchased the home with seller financing and seller is willing to decrease 10k from principal if I refinance or should I get rid of it and move to Europe?"
There is far more to moving to a different country than the just the price of your home.
Where do you earn the most?,
Where do you save the most?
Where can you find the best investment deals for those savings?
Where are you more comfortable living?
Frankly, it will take weeks or even months of intense discussion within your family to decide.
As to the seller's offer to reduce the principal by 10K if you refinance. The less you pay for your liabilities, the more you have available for buying assets. So at a time when interest rates are low, you should refinance your liabilities, not just to reduce payments but also to increase funds available for investment.
Is that offer a good deal? Investigate alternatives, What if you refy with a bank? Will that cost you less or more than this offer? And remember the main reason to refinance liabilities (like your home) is to free up more of your income for investment purposes.
I agree with Mr. Kiyosaki comments and I immensly enjoyed reading COR.
We cannot be dependent on the government:{
We have to increase our financial IQ! ;)
I have a question should I refinance a home with a local credit union? I purchased the home with seller financing and seller is willing to decrease 10k from principal if I refinance or should I get rid of it and move to Europe?