In "Rich Dad's Before You Quit Your Job", Robert Kiyosaki gave a talk at Columbia University.
Mr. Kiyosaki recounted his failures in business. The president of Columbia asked that Mr. Kiysoaki not return to Columbia.
Please take the time to learn from your mistakes and from the mistakes of people you know or read about. Learning from mistakes is essential for you to grow.
Don't listen to Columbia. Listen to Robert Kiyosaki.
Wednesday, February 27, 2008
Saturday, February 23, 2008
Financial Independence 101 - Study Successful People
Live below your means and invest the difference is the first thing you do to become FI (financially independent). The next thing you do is: study successful people. When you meet a successful person, ask them how they made it. Read magazines that profile successful people. CNN/Money profiles millionaires in the making, read that. Read "The Millionaire Next Door". Read the autobiographies of successful people. Listen to audio programs by Tony Robbins and Brian Tracy. Tony and Brian interview successful people and teach people like us how they made it big.
I personally ignore most detractors of self made millionaires and billionaires. I think you should too.
I personally ignore most detractors of self made millionaires and billionaires. I think you should too.
Getting Pumped and Motivated
If you need to get fired up before a big event or even just to finish up the week, I know of a few methods to get yourself motivated. First, fill up a sheet of paper with every one of your major accomplishments. Put down things like awards, raises, promotions, personal bests, like your biggest commissions, or something great you did in sports. Type up any and all of your greatest accomplishments. What do you do with this paper? Read it before you take on your challenge. It might sound silly, but this exercise primes your mind for more achievement.
Another idea is using a subliminal CD or mp3. Think of some good motivational affirmations and record and mix them. Making your own subliminal CDs is very easy (see www.independentwealth.us for details). Play the CD on your way to work. Need some good affirmations? No problem. How about: "I am motivated to ______. I create my future. My decisions dictate my destiny. My willpower is phenomenal. I follow through. I am in a peak state." Get the idea?
Hypnosis can work too, but you have to take the time to relax for 20 - 30 minutes. ProHypnosis.com offers good hypnosis cds.
"The Instant Millionaire" is a read that will get you fired up and ready to take action too.
I have found taking time to review http://www.financialindependenceuniversity.com/ will get me more focused and motivated too.
A quick meeting of your mastermind alliance should motivate you and the rest of your group.
Another idea is using a subliminal CD or mp3. Think of some good motivational affirmations and record and mix them. Making your own subliminal CDs is very easy (see www.independentwealth.us for details). Play the CD on your way to work. Need some good affirmations? No problem. How about: "I am motivated to ______. I create my future. My decisions dictate my destiny. My willpower is phenomenal. I follow through. I am in a peak state." Get the idea?
Hypnosis can work too, but you have to take the time to relax for 20 - 30 minutes. ProHypnosis.com offers good hypnosis cds.
"The Instant Millionaire" is a read that will get you fired up and ready to take action too.
I have found taking time to review http://www.financialindependenceuniversity.com/ will get me more focused and motivated too.
A quick meeting of your mastermind alliance should motivate you and the rest of your group.
Nanotechnology Patents
Which Countries and Companies are Leading the Way in Nanotechnology Patenting?
Researchers from the University of Arizona and the US National Science Foundation examined nanoscale science and engineering patents at the US Patent & Trademark Office from 1976-2003. 12 They found that 8,630 nanotech-related patents were issued by the US PTO in 2003 alone, an increase of 50% over the previous three years. The top 5 countries represented were: US (5,228 patents), Japan (926), Germany (684), Canada (244) and France (183). The top 5 entities winning nanotech-related patents included four multinational electronic firms and one university: IBM (198 patents), Micron Technologies (129), Advanced Micro Devices (128), Intel (90) and University of California (89).
http://www.azonano.com/Details.asp?ArticleID=1379
Researchers from the University of Arizona and the US National Science Foundation examined nanoscale science and engineering patents at the US Patent & Trademark Office from 1976-2003. 12 They found that 8,630 nanotech-related patents were issued by the US PTO in 2003 alone, an increase of 50% over the previous three years. The top 5 countries represented were: US (5,228 patents), Japan (926), Germany (684), Canada (244) and France (183). The top 5 entities winning nanotech-related patents included four multinational electronic firms and one university: IBM (198 patents), Micron Technologies (129), Advanced Micro Devices (128), Intel (90) and University of California (89).
http://www.azonano.com/Details.asp?ArticleID=1379
Friday, February 15, 2008
10 Traits that Make You Filthy Rich
Ten Traits That Make You Filthy-Rich, by Jeffrey Strain Friday, February 1, 2008
provided byTheStreet.com
Saving money isn't all about whether or not you know how to scorescreaming bargains.It has more to do with your attitude toward money.Just think of those who don't fit the filthy-rich stereotype. Peoplelike Warren Buffett.More From TheStreet.com:•
10 Free Ways to Boost Your Financial Power• Credit Unions Give Banks a Run for Their Money• How to Pick a 'Concierge' Health PlanAs explained in the book The Millionaire Next Door by Thomas J.Stanley and William D. Danko, personal finance has as much to do withpeople's traits as it does with money. Many millionaires, in fact,have frugal ways.Understanding how personal traits can influence your finances is anessential ingredient for building wealth.Here are 10 key traits:
1. PatiencePatience is one of the most important traits when it comes to savingmoney.This means waiting until the first wave of product hype has passed,keeping a car for an extra few years before getting another one andwaiting until something you want fits into your budget instead ofputting it on credit.Patience is often the difference between creating savings and being indebt. Having the patience to wait until you find a good deal is acornerstone of good finances.
2. SatisfactionWhen you're satisfied, there is no reason to spend money onnonessentials. The sole purpose of commercials is to make you believethat buying a product or service will make you happier, wealthier,better looking or improve whatever isn't bringing you satisfaction.People spend because they want to capture the excitement shown inadvertisements. When you are satisfied with what you have and yourlife (not trying to live like those on TV), your finances will be in alot better shape.
3. OrganizationBeing organized can make you more productive and ensure that all themany issues pertaining to personal finances are addressed.It means not paying late fees, not buying two of everything, knowingdeadlines that can affect your finances and getting more done in lesstime. All these can greatly benefit your finances.
4. DisciplineYou need the discipline to continue to save money for specific,long-term goals every month.Personal finance isn't a way to get rich quick, but is a disciplinedexecution of your lifetime plans.
5. ReflectivenessIt's important to be able to look at your financial decisions andreflect on their results.You're going to make financial mistakes. Everyone does.The key is to learn from those mistakes so you don't make them again,or recognize if you keep repeating them.
6. CreativityThe economy and our earnings don't always match our expectations.Unexpected developments wreak havoc to elaborate financial plans. Whenthis happens, changes are needed to deal with the new circumstances.Creativity is essential to accomplish this.Creativity allows you to make something last longer rather thanpurchasing it when you don't have the money. It means juggling moneyto stay out of debt rather than simply paying with a credit card. Itmeans finding a cheaper alternative when money is tight.In these ways, creativity plays a large role in keeping finances in order.
7. CuriosityHaving curiosity helps you learn, study and improve yourself.The curiosity of wanting to know more, to take the time to study andthen take what is learned and put into practice is an importantprocess that is driven by curiosity.
8. Risk-TakingTo build wealth, one needs to be willing to take risks. This doesn'tmean uncalculated risks. It means weighing all the options and takingcalculated risks when appropriate.The stock market has risks involved, but over the long term, historyshows that it provides good returns on money that is invested wisely.Those who fear risk altogether end up saving money in accounts thatlikely lose money to inflation in the long run.
9. Goal-OrientedThe importance of setting and working toward goals is obvious. If youdon't know where you are going, it's difficult to get there. It helpsyour personal finances immensely if you have money goals and aremotivated to reach the goals that you have set for yourself. Those who lack goals don't have a road map to take them to the financial destination they want.
10. Hard- and Smart-Working:Creating wealth and staying out of debt rarely comes about without alot of hard work.Many people might hope that the lottery will solve all their financialproblems. The true path to financial freedom, however, is to work hardto earn money while educating yourself to continue to have more valueand increase your salary.You may not possess all of the above traits. But knowing them can helpyou make changes so that you nourish the ones that you have and obtainthe ones you're missing.Ultimately they will help you with your personal finances and create aplan to accumulate the wealth you desire.Copyrighted, TheStreet.Com. All rights reserved
provided byTheStreet.com
Saving money isn't all about whether or not you know how to scorescreaming bargains.It has more to do with your attitude toward money.Just think of those who don't fit the filthy-rich stereotype. Peoplelike Warren Buffett.More From TheStreet.com:•
10 Free Ways to Boost Your Financial Power• Credit Unions Give Banks a Run for Their Money• How to Pick a 'Concierge' Health PlanAs explained in the book The Millionaire Next Door by Thomas J.Stanley and William D. Danko, personal finance has as much to do withpeople's traits as it does with money. Many millionaires, in fact,have frugal ways.Understanding how personal traits can influence your finances is anessential ingredient for building wealth.Here are 10 key traits:
1. PatiencePatience is one of the most important traits when it comes to savingmoney.This means waiting until the first wave of product hype has passed,keeping a car for an extra few years before getting another one andwaiting until something you want fits into your budget instead ofputting it on credit.Patience is often the difference between creating savings and being indebt. Having the patience to wait until you find a good deal is acornerstone of good finances.
2. SatisfactionWhen you're satisfied, there is no reason to spend money onnonessentials. The sole purpose of commercials is to make you believethat buying a product or service will make you happier, wealthier,better looking or improve whatever isn't bringing you satisfaction.People spend because they want to capture the excitement shown inadvertisements. When you are satisfied with what you have and yourlife (not trying to live like those on TV), your finances will be in alot better shape.
3. OrganizationBeing organized can make you more productive and ensure that all themany issues pertaining to personal finances are addressed.It means not paying late fees, not buying two of everything, knowingdeadlines that can affect your finances and getting more done in lesstime. All these can greatly benefit your finances.
4. DisciplineYou need the discipline to continue to save money for specific,long-term goals every month.Personal finance isn't a way to get rich quick, but is a disciplinedexecution of your lifetime plans.
5. ReflectivenessIt's important to be able to look at your financial decisions andreflect on their results.You're going to make financial mistakes. Everyone does.The key is to learn from those mistakes so you don't make them again,or recognize if you keep repeating them.
6. CreativityThe economy and our earnings don't always match our expectations.Unexpected developments wreak havoc to elaborate financial plans. Whenthis happens, changes are needed to deal with the new circumstances.Creativity is essential to accomplish this.Creativity allows you to make something last longer rather thanpurchasing it when you don't have the money. It means juggling moneyto stay out of debt rather than simply paying with a credit card. Itmeans finding a cheaper alternative when money is tight.In these ways, creativity plays a large role in keeping finances in order.
7. CuriosityHaving curiosity helps you learn, study and improve yourself.The curiosity of wanting to know more, to take the time to study andthen take what is learned and put into practice is an importantprocess that is driven by curiosity.
8. Risk-TakingTo build wealth, one needs to be willing to take risks. This doesn'tmean uncalculated risks. It means weighing all the options and takingcalculated risks when appropriate.The stock market has risks involved, but over the long term, historyshows that it provides good returns on money that is invested wisely.Those who fear risk altogether end up saving money in accounts thatlikely lose money to inflation in the long run.
9. Goal-OrientedThe importance of setting and working toward goals is obvious. If youdon't know where you are going, it's difficult to get there. It helpsyour personal finances immensely if you have money goals and aremotivated to reach the goals that you have set for yourself. Those who lack goals don't have a road map to take them to the financial destination they want.
10. Hard- and Smart-Working:Creating wealth and staying out of debt rarely comes about without alot of hard work.Many people might hope that the lottery will solve all their financialproblems. The true path to financial freedom, however, is to work hardto earn money while educating yourself to continue to have more valueand increase your salary.You may not possess all of the above traits. But knowing them can helpyou make changes so that you nourish the ones that you have and obtainthe ones you're missing.Ultimately they will help you with your personal finances and create aplan to accumulate the wealth you desire.Copyrighted, TheStreet.Com. All rights reserved
Tuesday, February 12, 2008
Warren Buffett Facts
There was a one hour interview on CNBC with Warren Buffet, the secondrichest man who has donated $31 billion to charity. Here are some veryinteresting aspects of his life:
1.) He bought his first share at age 11 and he now regrets that hestarted too late!
2.) He bought a small farm at age 14 with savings from deliveringnewspapers.
3.) He still lives in the same small 3 bedroom house in mid-town Omaha,that he bought after he got married 50 years ago. He says that he haseverything he needs in that house. His house does not have a wall or afence.
4.) He drives his own car everywhere and does not have a driver orsecurity people around him.
5.) He never travels by private jet, although he owns the world'slargest private jet company.
6.) His company, Berkshire Hathaway, owns 63 companies. He writes onlyone letter each year to the CEOs of these companies, giving them goalsfor the year. He never holds meetings or calls them on a regular basis.
7.) He has given his CEO's only two rules. Rule number 1: do not loseany of your share holder's money. Rule number 2: Do not forget rulenumber 1.
8.) He does not socialize with the high society crowd. His past timeafter he gets home is to make himself some pop corn and watch television.
9.) Bill Gates, the world's richest man met him for the first time only5 years ago. Bill Gates did not think he had anything in common withWarren Buffet. So he had scheduled his meeting only for half hour. Butwhen Gates met him, the meeting lasted for ten hours and Bill Gates became a devotee of Warren Buffet.
10.) Warren Buffet does not carry a cell phone, nor has a computer onhis desk.
11.) His advice to young people: Stay away from credit cards and investin yourself.
1.) He bought his first share at age 11 and he now regrets that hestarted too late!
2.) He bought a small farm at age 14 with savings from deliveringnewspapers.
3.) He still lives in the same small 3 bedroom house in mid-town Omaha,that he bought after he got married 50 years ago. He says that he haseverything he needs in that house. His house does not have a wall or afence.
4.) He drives his own car everywhere and does not have a driver orsecurity people around him.
5.) He never travels by private jet, although he owns the world'slargest private jet company.
6.) His company, Berkshire Hathaway, owns 63 companies. He writes onlyone letter each year to the CEOs of these companies, giving them goalsfor the year. He never holds meetings or calls them on a regular basis.
7.) He has given his CEO's only two rules. Rule number 1: do not loseany of your share holder's money. Rule number 2: Do not forget rulenumber 1.
8.) He does not socialize with the high society crowd. His past timeafter he gets home is to make himself some pop corn and watch television.
9.) Bill Gates, the world's richest man met him for the first time only5 years ago. Bill Gates did not think he had anything in common withWarren Buffet. So he had scheduled his meeting only for half hour. Butwhen Gates met him, the meeting lasted for ten hours and Bill Gates became a devotee of Warren Buffet.
10.) Warren Buffet does not carry a cell phone, nor has a computer onhis desk.
11.) His advice to young people: Stay away from credit cards and investin yourself.
Sunday, February 10, 2008
Nanotechnology
I recently read at a futurists forum that IBM has more nanotechnology patents than any other company. Disruptive nanotechnology will likely trump the development of the internet. So far, IBM is in the lead with patents. Furthermore, IBM has weathered the recent volatility of the stock market fairly well. Take action and call your stockbroker.
Friday, February 8, 2008
10 Tips for Building Sustainable Wealth
When most people think about wealth building, they imagine achieving overnight millionaire status. They don't really understand wealth building, so they create a fantasy to make it more comprehensive. One way to achieve that fantasy is to buy the winning lottery ticket or to get on a lucky winning streak in Las Vegas. However, that fantasy will be short lived because wealth building is not a get rich quick scheme.
For those of us who have studied wealth building, we understand that this is the science of creating sustainable wealth. There is a foundation that needs to be laid out and a sequence of events that need to happen in order for wealth to begin its accumulation.
Here are 10 tips for you to begin the journey to building sustainable wealth.
1. Believe that you can have what you want. The clearer you are about what you want, the easier it will be to stay focused on the target.
2. Know your starting point. Know what your monthly cash flow is and what your total net worth is today. You cannot map out a journey if you don't know your starting point.
3. Decide on a destination point. How much cash flow do you want to generate? What is the net worth you are striving for? You cannot map out a journey if you don't know where you want to go.
4. Create a wealth plan and follow it. The journey between the starting point and the destination is the map to your wealth. This is the path to financial freedom.
5. Handle your debts automatically. Create a debt reduction plan that will allow you to pay down your debts without having to focus your energy on debt. You will make better progress if you focus your energy on wealth instead.
6. Create a new stream of income. Learn to create new money through a new business, an invention or an investment.
7. Manage your lifestyle. Understand your motives for spending and learn to live within your means. Curb reckless spending habits and create new wealth habits.
8. Get educated about investments and create a wealth account. Investing without education is called Gambling. Get educated. Put money aside today for investing in the future.
9. Surround yourself with good people. Wealth building is a team sport and you should always look for great team members.
10. Recognize that you are in charge of your own financial future and everything that it encompasses. Even if you hire team members to handle your investments, you can never play the victim of circumstances. You lead the team. You lead the decisions.To learn more about wealth building and how to create your wealth plan, visit us at http://www.WealthLive.com and learn about products and programs that will assist you on your journey to building sustainable wealth.
Socorro Curiel is a successful real estate investor and has been teaching wealth building for over 8 years. She offers training and coaching to people looking to build wealth and improve their financial situation. Register to learn proven wealth building techniques at http://www.wealthlive.com/
Article Source: http://EzineArticles.com/?expert=Socorro_Curiel
Wednesday, February 6, 2008
B Quadrant Business
As you know, if you have read Rich Dad, Poor Dad, you want to own businesses that run without you. I have been investigating businesses that are understandable, and do not require all your time after you have gotten them started.
A coin op laundry is a good idea. If located in a good location, the real estate under your coin op laundry could make you a fair amount of money. A coin op laundry, if successful, could supplement your income without requiring your presence 8 to 12 hours a day. Take a look at www.ebay.com and look at the business plan listings for sale.
Storage businesses are another idea I have been considering. Again, the land under the storage facility could become valuable over time.
It is essential to do your due diligence!
A coin op laundry is a good idea. If located in a good location, the real estate under your coin op laundry could make you a fair amount of money. A coin op laundry, if successful, could supplement your income without requiring your presence 8 to 12 hours a day. Take a look at www.ebay.com and look at the business plan listings for sale.
Storage businesses are another idea I have been considering. Again, the land under the storage facility could become valuable over time.
It is essential to do your due diligence!
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