My main financial goal is to multiply income-producing assets. Many years ago, Robert Kiyosaki taught us the best definition of an asset. “An asset is something that puts money in your pocket… an asset pays you for owning it.” To increase your monthly cashflow, you must increase your ownership of income producing assets. The easiest…
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In 1987, times were extremely tough for Jerrold Mundis. He was in his mid-40s and owed creditors $50,000 in unsecured debt. Once a new New York Times editor and successful author, Mundis found himself living in a one-room apartment in New York. His debt alone was costing about $3,000 per month, and he had a…
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Am I hauling buckets, or am I building pipelines? Many years ago, I remember reading a story about a small village in Robert Kiyosaki’s book, “The Cashflow Quadrant.” In the story, the small village didn’t have water so they hired two different people to bring clean water into the village on a consistent basis. The…
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First I was dying to finish high school and start college. And then I was dying to finish college and start working. And then I was dying to marry and have children. And then I was dying for my children to grow old enough for school so I could return to work. And then I…
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We all want to live a good life. A big part of living a good life is learning to avoid self-inflicted misery. Misery is defined as a cause or source of great distress or discomfort. Oddly enough, we make numerous choices in our lives that cause both short-term and long-term misery. In other words, we…
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To achieve financial freedom, you must understand and utilize compounding to your advantage. Robert Kiyosaki taught about compounding in his book, “Who Took My Money?” In this book he wrote: “As a professional investor, I want to… 1. Invest my money into an asset. 2. Get my money back. 3. Keep control of the asset….
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As an owner of dividend real estate, you’ll have occasional repairs and maintenance on your asset. The best way to have these issues handled is through a contractor you have used previously, or through referrals from friends and family. This way you’ll know you’re getting quality work. However, what do you do when you don’t…
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On a high-level, investing is simply buying income. The less you pay for the investment income, the higher your return. The more you pay for the investment income, the lower your return. To illustrate this with a crazy example consider these two investment opportunities. Both investment opportunities were available when this article was written. Asset…
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For many with children, college is a major expense we have looming over our heads. According to Collegedata.com: “The cost for one year of tuition and fees varies widely among colleges. According to the College Board, the average cost of tuition and fees for the 2013–2014 school year was $30,094 at private colleges, $8,893 for…
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