The aim of this group is to educate and share opportunities with other like-minded property investors. Women In Wealth was created to inspire ambitious women of all ages and backgrounds to release their innate talents and achieve financial security. The U. We seek to empower women with a strong financial education and help them discover the power of real estate investing to create cash flow and build financial independence.
Students find support from like-minded women dedicated to helping each other find success. Company Legacy Education Alliance, Inc. In the end, the partners fought among themselves, and the business went down. Almost daily, people come to me with business plans with the hope of raising money for their idea or their project.
For a business to survive and thrive, percent of all the systems must be functioning and accountable. For example, an airplane is a system of systems. Most of us have had a loved one die because one of the body systems failed. Professional investors tend to invest in proven systems with people who know how to run those systems.
If banks lend based only on tried-and-true systems and the person who is going to run them, then you should do the same if you want to be a smart investor. Get involved in network marketing also called multi-level marketing or direct distribution systems.
Just as with franchises, the U. It has been banned and restricted in some countries. Any new system or idea often goes through a period of being classiied as strange and suspicious. At irst, I also thought that network marketing was a scam. After I dropped my prejudices and began researching network marketing, I found many people who were sincerely and diligently building successful network-marketing businesses.
I began to truly appreciate the value of the network-marketing system. Due to the technological advances in the computer industry, these organizations are totally automated, and the headaches of paperwork, order processing, distribution, accounting, and follow-up are almost entirely managed by the network-marketing software systems.
New distributors can focus all of their eforts on building their business instead of worrying about the normal start-up headaches of a small business. One of my old friends who did more than a billion dollars in real estate business in one year, recently signed on as a network- marketing distributor and began building his business.
When people ask me how I became so rich, I tell them about the multimillion- dollar real estate transactions I do and the hundreds of thousands of dollars in passive income I receive each year from it. I then notice that some of them withdraw or shy away. We both know that their chances of doing multimillion-dollar real estate investments like I do are slim to none. So I began to look for a way I could help them achieve the same level of passive income I developed from real estate without going back to school for six years and spending 12 years investing in real estate.
By developing their own business, they have the free time to learn, and the capital to invest with me in my bigger deals. At the irst meeting, he teaches people about business systems and people, or how to develop into a successful B.
His class sizes are growing rapidly. Many famous franchises cost a million dollars or more to buy. I know much of network marketing is hard work. But success in any quadrant is hard work. I personally generate no income as a network-marketing distributor. I researched several network- marketing companies and their compensation plans. While doing my research, I did join several companies, just because their products are so good and I use them as a consumer.
From my research into network marketing, I found two important things you can learn through their programs that are essential to become a successful B: 1. To be successful, you need to learn to overcome your fear of being rejected and to stop worrying about what other people say and think about you.
I know, because I was the same way. Coming from a small town, everyone knew what everyone else was up to. What is most important is what I think about myself. To be successful, you must also learn to lead people.
Working with diferent kinds of people is the hardest thing about business. So I endorse any network-marketing organization that is primarily committed to developing you as a human being, rather than developing you into a salesperson. I would seek organizations that: 1. Are proven, with a successful track record, a distribution system, and a compensation plan that have been successful for years.
Have a business opportunity you can succeed with, believe in, and share conidently with others. Have ongoing, long-term educational programs to develop you as a human being. Have a strong mentor program. You want to learn from leaders, not advisors. You want to learn from people who are already leaders, who are on the right side, and who want you to succeed. Have people you respect and enjoy being with. Too many people look at the product instead of the business system and the organization behind the product.
A friend and colleague of mine who is knowledgeable in this industry reminded me about the value of time, one of our most precious assets. A true success story in a network-marketing company is when your commitment of time and hard work in the short term results in signiicant long-term passive income. Yet for Kim and me, the experience was priceless. Today, freedom and security are found, not so much in what we have, but in what we know we can create with conidence. Since that time, we have created or helped develop a real estate company, an oil company, a mining company, and two education companies.
So the process of learning how to create a successful system was beneicial for us. Until only a few years ago, the possibility of a person becoming successful in the B quadrant was only available to those who were brave or rich. Many people stay stuck on the left side because they feel the risks involved in developing their own system are too great.
Today, primarily due to changes in technology, the risk in becoming a successful business owner is greatly reduced, and the opportunity to build your own or leverage an existing business system is available to virtually everyone.
Franchises and network marketing took away the hard part of developing your own system. You acquire the rights to a proven system, and then your only job is to develop your people. Learning to invest is important because investing is the key to inancial freedom. Five things happen to people who do not invest, or who invest poorly: 1. Learning to invest is learning how to have money work for you. Always remember the formula: four green houses, one red hotel.
More green houses and more red hotels mean more cash low, less work, less taxes, and more freedom. A simple game—but an important lesson. Rich dad played Monopoly in real life. He would often take his son and me to visit his green houses—green houses that would one day become a big red hotel, right on Waikiki Beach. As I grew up and watched my rich dad play the game of Monopoly in real life, I learned many valuable lessons about investing.
Your cash low would increase automatically with inlation and, at the same time, allow you to pay less in taxes. I am not saying real estate is the only way to invest. I use the game of Monopoly simply as an example of how the rich get richer. A person can earn income from stocks via dividends, from bonds via interest, or from oil, books, and patents via royalties.
In other words, there are many ways to inancial freedom. Most are employees in the E quadrant working for a paycheck, or self-employed inancial advisors in the S quadrant working for fees and commissions. Remember, all con men are nice people.
If they were not being nice by telling you what you want to hear, you would not listen to them. We all have something to sell. Interestingly, the vast majority of investors never meet the person taking their money. Many workers in America simply allow their employer to deduct their money and put it into their k retirement plan, possibly the worst way to invest for retirement.
I say the k may possibly be the worst way to invest for retirement for the following reasons: 1. TIME magazine is on my side. TIME has been predicting that millions will not have enough money to retire after a lifetime of turning their money over to strangers.
A typical k plan takes 80 percent of the proits. Taxes work against you with a k. You have no insurance if there is a stock-market crash. To drive a car, I must have insurance in case there is a crash. When I invest in real estate, I have insurance in case of ire or other losses. Yet the k investor has no insurance to prevent losses from market crashes.
If, on the other hand, you are rich when you retire and you have a k , you could pay even higher taxes at retirement. Smart investors understand taxes before investing. Most are employees in the E quadrant.
One reason why so many government pensions and union pensions are in trouble is because these employees are not trained to be investors. Most do not have any real-life inancial education. Only amateurs park their money. I am not saying k -type plans are bad, although I would never have one. For me, they are too expensive, too risky, too tax-ineicient, and unfair to the investor.
What Is the Best Investment? Most investors invest for capital gains, hoping and praying the price of their stock or home goes up. As long as you have more cash lowing in than lowing out, your investment is a good investment. Are you a good investor? Success or failure, wealth or poverty, depends solely on how smart the investor is. A smart investor will make millions in the stock market.
An amateur will lose millions. Tragically, most people do not think learning to invest is important. Five Diferent Levels of Investors here are ive types or levels of investors found in the I quadrant. Simply said, they have nothing to invest. I have a friend who looks very rich. He has a good job as a real estate broker, a beautiful wife, and three kids in private school. He and his wife drive expensive European cars. When his son and daughters were old enough, they too drove expensive cars.
Now, they are homeless. When the real estate market crashed, they crashed. When we were younger, this same friend made a lot of money. Unfortunately, it was his low inancial-intelligence level—zero—that caused him be a zero over the long run. In fact, he is so deeply in debt that he is really a sub-zero investor.
Like many people, everything he buys loses value or costs him money. Nothing he buys makes him richer. Today, people are saving counterfeit dollars, money that can be created at the speed of light. In President Nixon took the U. Today, savers are the biggest losers. Since , the U. It will not take another 40 years to lose its remaining 5 percent. As the Federal Reserve Bank and central banks throughout the world print trillions of dollars at high speed, every printed dollar means higher taxes and more inlation.
It used to be smart when money was money. Treasury bonds, corporate bonds, municipal bonds, and junk bonds. For years, it was assumed that U. As many of you know, the crisis was caused by mortgage bonds such as mortgage-backed securities or MBS, also known as derivatives. Millions of these mortgage bonds were made up of subprime mortgages, which were loans to subprime or high-risk borrowers.
You may recall that some of those borrowers had no income and no job. Yet, they were buying homes they could never pay for. To me, this is fraud. But that is the banking system. Once the subprime borrower could no longer pay the interest on their mortgages, these MBS bonds began blowing up all over the world. Today, many people blame the big banks, such as Goldman Sachs and J. Morgan, for the crisis.
Yet if anyone should be blamed for this crisis, it should be Warren Bufet. He is a smart man, and he knew what he was doing. Today, countries such as Ireland and Greece are in serious trouble, unable to pay the interest on their bonds.
In the United States, governments and municipalities are going broke, unable to pay the interest on their bonds. In , millions of individuals, many retirees, pension funds, governments, and banks are in trouble as the bond market proves how unsafe bonds can be. China could be the biggest loser of all. China holds a trillion dollars in U.
Every time the U. If China stops buying U. Millions of retirees are just like China. Retirees in need of a steady income after retirement believed government bonds were safe. Today, as governments, big and small, go bust and inlation rises, retirees are inding out that savers who saved money in bonds are losers.
Municipal bonds are IOUs issued by states, cities, hospitals, schools, and other public institutions. One advantage of municipal bonds is that many are tax-free income. Millions of municipal-bond investors are now inding out that the municipal bonds they invested in are in serious trouble.
It is estimated that two thirds of those bonds are now at risk because these public institutions are broke. If more money is not pumped in, the United States could implode from the center as states, cities, hospitals, and schools begin to default, just as subprime homeowners defaulted and stopped paying on their home mortgages. Unfortunately, after when the rules of money changed, savers became the biggest losers, even if they saved money by investing in bonds.
Remember that savers, bondholders, and most people who save money in a retirement plan, are people who park their money, investing for the long term, while professional investors move their money. Many investors at this level are highly educated people who are simply too busy with their careers, family, other interests, and vacations. Soon after the inancial crisis broke in , many aluent people found out that their trusted expert was not an expert at all and, even worse, could not be trusted.
In a matter of months, trillions of dollars of wealth vaporized as real estate and stock markets began to crash. Panicking, these investors called their trusted advisors and begged for salvation.
A few rich investors found out that their trusted advisors were extremely sophisticated con men, running elaborate Ponzi schemes. Social Security is a legal Ponzi scheme, as is the stock market. In both instances, the scheme works as long as new money lows into the scheme. Many retirees become Level-4 investors once their working days are over.
If they invest in real estate, the do-it-yourselfer will ind, ix, and manage their own properties. And if the person is a gold bug, they will buy and store their own gold and silver. In most cases, the do-it-yourselfer has very little, if any, formal inancial education.
After all, if they can do it themselves, why should they learn anything? If they do attend a course or two, it is often in a narrow subject area. For example, if they like stock trading, they will focus only on stock trading. At the age of nine, when rich dad began my inancial education with the game of Monopoly, he wanted me to have a bigger picture of the world of investing.
After the market crash, millions of people have become entrepreneurs starting small businesses, and many are investing in real estate while prices are low. Most, however, are trying their hand at stock trading and stock picking. As the dollar declines in value, millions of people are beginning to save gold and silver instead of dollars. Obviously, those who also invest in their ongoing inancial education, taking classes regularly and hiring a coach to enhance their performance, will outpace those who just do it on their own.
With a sound inancial education, a few of the Level-4 investors will climb to the next level, the Level-5 investor, the capitalist.
Level 5: he Capitalist Level his is the richest-people-in-the-world level. As stated earlier, the Level-4 investor is the do-it-yourselfer from the S quadrant investing in the I quadrant. B-quadrant investors do not have to be the smartest. Yet, many S-quadrant investors believe they are the smartest people in the world. It is diicult to raise money as an S-quadrant investor.
It is easy for a B-quadrant investor to raise capital. Once a person knows how to build a business in the B quadrant, success attracts money. It becomes easy to raise money in the I quadrant if you are successful in the B quadrant. Once a person is successful in the B quadrant, life is easy. For example, it is easy to take a B-quadrant business public via selling shares of the business on the stock market. If Facebook had remained just a small web-consulting irm, it would have been very diicult to raise investor capital.
An S-quadrant business has a tough time selling shares because the business is too small to share. In real estate, the same is true. When I was a small real estate investor investing in single-family homes, condos, and small 4- to unit apartment buildings, it was diicult getting loans. On unit-plus properties priced in the millions, banks do not inance the investor. In other words, on properties with over units, banks look more closely at the investment than the investor.
Remember, bankers love debtors because debtors make the bank rich. Once bankers are satisied with our ability to own and manage large apartment houses proitably, banks often line up to ofer us money, even during a crisis. So the question is: Who do Level-5 investors get their money from? Starting with Nothing he reason I started this book with the story of Kim and me being homeless is to let readers know that not having any money is not an excuse for not growing smarter, thinking bigger, and becoming richer.
For most of my life, I have never had enough money. If I had let not having money be an excuse, I would never have become a capitalist. My dad suggested I go to school, get my PhD, which he did himself, and work for the government or climb a corporate ladder in the E quadrant. My mom, a registered nurse, wanted me to become a medical doctor in the S quadrant. My rich dad suggested I become a capitalist. My mom and dad believed in traditional schools such as colleges, law schools, and medical schools.
My rich dad believed in education, but not the type of education found in traditional schools. Playing CASHFLOW the board game will help you accelerate your financial education by helping you uncover the mystery behind your current spending habits.
Passive income, or cash flow, is how the rich become financially free. And therein lies the secret to winning the game of life—and CASHFLOW … … understanding the differences between the three types of income: earned, portfolio, and passive.
How do they do it? Two words: Cash. An asset is something that puts money in your pocket The board game of CASHFLOW showcases how to create valuable cash-flowing assets that put money in your pocket while eliminating the liabilities that drain your wallet. Harper Amazon Just like A.
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