July 09, 2008

Dealing with the deal that got away

There will always be times when a great deal gets away from you. You might move too slowly or not have the cash or saw some problems that weren't really there--the reason doesn't matter. What matters is how you manage the realization that this "fish" slipped off your hook.

You will never lose money on a deal you didn't do. So when you miss an opportunity, don't beat yourself up. Instead, consider what you learned and move forward.

Don't worry about the deals that get away. Focus on making the ones you are doing as profitable as possible.

July 01, 2008

When your spouse becomes your business partner

Robert and Kim Kiyosaki say that their business relationship has strengthened their marriage and they believe that it is beneficial for couples to grow together financially as well as spiritually and emotionally.

But with that said, it's important that you and your spouse set some rules so that you keep your business activities in perspective and proportion with the rest of your lives. Don't spend the whole day working on your business and then the whole evening talking about it. You have to turn it off. You have to spend time on your personal relationship and your family.

When you and your spouse become business partners as well as life partners, set some ground rules. Be clear on when you're working and when you're not. And always allow enough time to nurture the feelings that brought you together in the first place.

June 25, 2008

Real Estate Investing Essential: Get to Know Your Market

Get to Know Your Market

To know whether or not a particular investment will work for you, you must know your market. There are no shortcuts or exceptions to this rule. You must get out in the field and look at all types of properties. Looking does not commit you to buying and each time you look at real estate, you learn more.

Read the real estate section of your local newspaper. Get comfortable with the language of real estate and the jargon most investors use. Know what the current market values are in various parts of your community for both property prices and rents. Establish relationships with several real estate agents. Join and be active in your local real estate investors’ organizations.

When you know your market, you will be able to recognize and take advantage of bargains and great deals when they come your way.

June 17, 2008

Introducing Rich Dad's Education Student Success Stories

We want to share the success of our students! That’s why we are implementing a new feature on our blog which will spotlight their achievements. We want you to see what they’re doing and learn from their experiences. We’ll be posting these stories regularly and look forward to your feedback on them.

June 10, 2008

Five Reasons Why You Should be Rich

Okay, you probably read the title of this post and thought, "Five reasons? I could give you 50!" But there are some very fundamental reasons why you should be rich -- especially if you are a woman. Kim Kiyosaki, author of Rich Woman, wrote a great article explaining those reasons. She says that for women, real life financial education is no longer a luxury, it's a necessity.

So what are the five reasons why Kim Kiyosaki thinks you should be rich? Click here to read her article and find out.

May 29, 2008

Your Money Should be Your Employee: Make Your Money Work for You

A tip from Rich Dad's Education: Your money can be the best employee you’ll ever have. You can put it to work for you, and it will work 24/7/365, it will never complain, it never ask for a day off—it just keeps working.

You put your money to work by investing it wisely. Putting your money in a basic bank account is like putting your best, hardest-working employee in jail. The jail (bank) will put your employee (money) to work for its own benefit, and you’ll see little if any of the results.

Think about what your money can do for you and get the most out of it that you possibly can.

May 22, 2008

Robert Kiyosaki and Steve Forbes on the Forbes.com iConference

I just finished watching Robert Kiyosaki and Steve Forbes speak on "Stocks, Politics, and the Economy: Prudent Strategies" at the Forbes.com iConference.

Here are a few bits of wisdom Robert offered:

"The biggest thing about financial intelligence is knowing when to save and when not to save." (He pointed out that in today's economy, he's not saving -- he's investing!)

"Banks will always give me money for real estate." (Banks typically won't give you money to invest in stock)

"If you’re going to invest today, invest globally."

"The tax code incentivizes the entrepreneur and punishes the employee." (Become an entrepreneur to build your wealth and to take advantage of the tax breaks the tax code offers.)


In a comment about today's political situation, Steve Forbes noted: "Never underestimate the power of politicians to muck things up."

A concise summary of the discussion is: Increase your own financial IQ so that you can take care of yourself regardless of what happens to the economy.


Reads and Links

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