Rich Dad 2009

[redwing]

I hadn't seen this posted anywhere so thought I would do so for those that may be interested


I see Peter Spann will be there and also T Harv Eker of “Secrets of the Millionaire Mind” fame amongst many others

Rich Dad Live 09

Coming to Australia and New Zealand in 2009


The internationally best-selling author of the book “Rich Dad, Poor Dad”, with 6 years on New York Times best seller list, plus 18 books with sales of over 26,000,000!

Not knowing about money, not what it is but what it can do for you, is probably the biggest and most critical gap in knowledge today.

Education is, without question, a key to making it in the world. But after getting your academic and professional education, who is really prepared with the necessary financial education?

Most people have never had any formal exposure to the fundamentals of this critical area of learning. How do you pick it up in later life? How can you be confident about what you gather in bits and pieces along the way?

Thanks to his ‘Rich Dad’ who started teaching him from the age of 9, Robert Kiyosaki got a great grounding in financial education and understands its power.

In the process building his system of wealth, Robert has mastered an education process so powerful and so effective that it has radically accelerated the money-making abilities and lifestyles of millions, worldwide. Robert is dedicated to your financial future. His mission is giving you the opportunity to teach yourself to predict your financial future by creating it.

He can show you how to take control of your money and make it fun!

 

[BayView]

Went to see him in Melb about 5 years ago.

It was very enjoyable, but it was high on context, a bit low on content - as in nuts and bolts.

If you've read all his books you probably won't hear much that is new, unless he has radically changed his delivery.

 

[Mindmaster]

I've always been an avid reader of anything from Kiyosaki so this site/posting www.johntreed.com/Kiyosaki.html came as a an insight to me.

Basically questions the validity of Kiyosaki teachings, background, stories and just about everything else.

There is always two sides to everything and always people to character assissinate high profile people so there could be no substance at all to that site.

Regardless I still value many of the points in Kiyosaki's materials but I'm much more analytical and less likely to take what he says for granted. A good approach for any source of information.

 

[Xenia]

I will definately be going. Look forward to it. I absolutely adore RK, one of my biggest role models.

 

[Casserole Dish]

I've always been an avid reader of anything from Kiyosaki so this site/posting www.johntreed.com/Kiyosaki.html came as a an insight to me.

Basically questions the validity of Kiyosaki teachings, background, stories and just about everything else.

There is always two sides to everything and always people to character assissinate high profile people so there could be no substance at all to that site.

Regardless I still value many of the points in Kiyosaki's materials but I'm much more analytical and less likely to take what he says for granted. A good approach for any source of information.

Wow, thanks for this! Just spent the last 50 mins reading it all. I'm with you, I read Kiyosaki's books, took what I wanted from them and thought that parts of them were ok. BUT the first ever copy I read was from an Amway fanatic who was trying to lure me in. Ding ding go the warning bells.

Also the ticket price really is exhobitant, no?

 

[see_change]

that JohnTreed link comes up almost every time someone mentions RK.

Seems to me the only time I 've heard of John Treed is by him critisising RK.

Any way I know many people on this forum ( including myself ) who have done very well by being inspired by RK .

If I ever met I will thank him .

Cliff

 

[redwing]

Well George Samuel Classon is long gone, but I have thanked Noel Whittaker for his books

 

[ColonialBoy]

I will definately be going. Look forward to it. I absolutely adore RK, one of my biggest role models.

Sounds very odd to me, he's a bankrupt & I cant see he's ever been a director of a listed company.

Warren Buffett is my role model

Well George Samuel Classon is long gone, but I have thanked Noel Whittaker for his books

Whittaker talks lots of common sense.

 

[chilliaa]

Different people will 'see' different things from reading investment books.
Sometimes it will just 'click' with the mind and open a whole new door way to new ways of investing.

Jan Sommers did that for me with residential property.
Benjamin graham's intelligent investing, Mary Buffett's various books on Warren Buffet, and Peter Lynch's books did that for me with investing on the stock market. I invested in the stock market long before i read these books, but these books enabled me to create an efficient analytical frame work.

With Robert Kiyosaki books, i inherently 'knew' this information already, but it wasnt forumulated as clearly as he presented. So his books crystalised my thinking.

At the end of the day there is no single one right way of investing.

The best advice i can give memebers is to keep an open mind, but when you see an investment strategy that suits your own investment philosophy, your own temperment and your own time frame, then try to become an expert in that area. By becoming an expert (as much as a retail investor can ever be an expert), you will have two major bennefits:

1) you will see opportunities before others with less experience than yourself. This will enable you enter positions before it becomes crowded out. ie you will stay ahead of the herd.

2) when short term price movements go against you or the environment becomes less certain, you will have the confidence to hold to your beliefs, you wont be swayed easily by the crowds, whether that is the media or other 'experts' predicting events that you believe based on the facts are highly improbable.

For myself i try to focus on three areas of investing:
1) Residential buy and hold (i dont have the expertise necessary for doing development, this is outside my area of knowledge and so it would be very risky for me, hence others on this forum with specific knowledge on this area would be able to identify opportunities long before i could).
2) Australian share market
3) Thai share market.

Encapsulating each area is a value based approach to investing based mainly on cash flow ie my funds tend to move to the asset class that is presenting me with the best opportunities to generate positive cash flow.

 

[oasis1frog]

Any way I know many people on this forum ( including myself ) who have done very well by being inspired by RK .
If I ever met I will thank him .
Cliff

May be I am a bit slow or not much imagination, I read the "rich dad poor dad" back to front front to back couple of times, not sure what I got out of it. I would rather read MY or Lomas books.

 

[Aaron Sice]

we must remember that kiyosaki is aimed at those that have had ZERO exposure to risk, "good debt", investing and the wonderful concept of OPM.

he's good for what his market is.

 

[VYBerlinaV8]

RK's book are for people who have never had the basics explained to them. For example, I knew bits and pieces, but until I read Rich Dad Poor Dad I just didn't 'get it'.

Now I do.

It's not supposed to be about detailed investment advice or structure, but more about developing behaviours that lead to overall financial improvement.

Realistically, I don't try to use RK's grand advice to get super rich. I think more about his cashflow descriptions (which are commonsense, but well described), and use them to motivate me around spending, saving and investing.

I had a look at that other site, and some of it may even be true, but I don't care, because I use Rich Dad Poor Dad for my own purposes, not as a 'how to' guide.

 

[BayView]

Apart from giving me the correct mindset towards investment debt and consumer spending, his books have also given me the shift in mindset towards businesses as an investment other than simply a career change.

Most people buy them to get away from their boss and work for themselves, but few would think to look for them instead of property and/or shares as an investment with a very good cashflow return.

 

[pursefattener]

Yes BayView I agree . BTW how is it going with the new proposition ?

After reading your other posts it got me thinking a bit more and I've spent a bit of time trawling about looking at stuff . For every advertised business for sale that is genuine there seems to be I don't know how many pig in a pokes ...

I think sometimes I should pull my finger out and look into more business opportunity/purchase but I am so tied down running what I have It is tough to free up the time . Sounds like a copout I know I know .

I'm a big RK fan . Have most of the books . Some I have read 5 times but it is the cashflow game that did it for me . The more you play it the richer you become . Damn it , but it is true for us... Great for Kids IMHO .

 

[BayView]

Yes BayView I agree . BTW how is it going with the new proposition ?

After reading your other posts it got me thinking a bit more and I've spent a bit of time trawling about looking at stuff . For every advertised business for sale that is genuine there seems to be I don't know how many pig in a pokes ...

Yeah, we're getting close now; just waiting on the final Contracts to sign.

I've looked at stacks over the last 6 months, and most are duds - by my expectations. Twice nett profit is all I'll pay for any business, and a lot of these punters are wanting 4 and 5 times. Good luck with that.

I had one bizarre experience a few weeks ago when we thought the Tyre/Service business was a dead duck;

I emailed this agent regarding 2 Foodworks supermarkets for sale through their office. Asked for all sorts of info, and a Confidentiality Agreement as well.

After 5 days, he rings me back finally and asks; "are you still interested?"

What a spoonhead.

I said; "of course; why would I ask for all the info if I wasn't?" I gave him a further spray after this opening statement. Fuggin' furious I was.

He had to go and promised to call back within 30 mins. So 2 days later no return phone call. I wonder why.

I call the agency to dob him in to his boss for being a loser, and I can't get the boss and I get put onto another loser ( I found this out later). I got some info from him, have a bit of a chat and he sends me the CA by fax. I fax it back, and wait for the Form 52 info to arrive.

It's almost a month later and I've had no contact whatsoever from either loser to follow-up.

So, I went into the supermarket near where I live (it's a Foodworks in Dromana) and told the owner what has transpired. That'll stir up a bit of fun for the loser agents I'd say.

He asked me if I was still interested, but he was about $200k too expensive based on his nett profit and I told him so. Wasn't too impressed.

 

[chilliaa]

May i post one comment regarding this.
Some small businesses are 'worth' 4-5 yrs profit figure as a sales price, and some are not.
Just because one business is offerred for sale at 2 times profit and another type of business in a different industry is offerred for sale at 4 times profit, doesnt mean the 2 times profit is a better deal.

I have to be very careful going into too much detail on a public site, but it depends very much on the nature of the business.

Twice i have had circumstances where people looking to buy 'cheap' have just shot themselves in the foot. Its ok for me as the money is banked, and i use very good lawyers, but not good for the other people involved.

 

[grossreal]

hi Casserole Dish.
BUT the first ever copy I read was from an Amway fanatic who was trying to lure me in.
in to what
amway
they may have told you are aiming at 12 billion in turn over this year with 0 debt
we are in a market that is reducing costs and companies are reducing staff.
amway is still expanding.
fanatic not sure who that person was
as amway is a system that assist you to get to where you want to get to at the time and place you want to get there.
people have been asking me on this and other boards to mentor or assist them to learn investing and to further there knowledge
thats what the aim of the network 21 and amway is and has done.
amway has been around for over 50 years and has many millions of people with its structure its one if not the largest network marketing groups on this planet of ours.
I have got lots of cds get 5 per months thanks to amway as yes I do get mine auto delivered.
so if you think all people in amway are fanatics or there is some thing scary or funny about the system well for theres not.
its a simple residual income system ( as explain in rich dad) with training on multipul levels and the products work.
there are very few people that say amway products are not good quality ( and you have a 90 day return policy on everything even my tootpaste is 90 day return try that at coles)
now this is not a give me a call and I will explain.
but the person who asked you to look did so because they thought you could benefit from there assistance.
just the same as people have asked for my assistance many times and yes I do show the system to people that I think could and would benefit.
there are alot of misunderstandings about amway and the training systems
but they have been around for over 50 years they have a proven system and they turn over I think 8 billion last year and will be 12 billion this year
and they have 0 zero debt levels
thats not bad
they have a no questions asked money back quarantee on all products.including your joining fee so even if you join and don't like it the money is returned
you have a person thats only role is to assist you to grow and you have a cd collection that second to non in my opinion that you can buy
and before you say yes but at a huge price for the cd's
the cost about 2.00 more then a blank cd from office works.
the one thing that amway will teach you and you won't learn it on any board.
is to open your mind to the abilty to achieve and as I heard a very interesting speaker say last month
you can achieve
you can achieve
as long as you believe you can achieve
if thats being a fanatic well count me in
because the only thing thats stops anyone achieving is the fear of failing and if you don't look over that fence or around that door and go to that meeting the only thing you are doing is stopping yourself from experiencing for yourself what any business is about.
very few being speak out about amway as if it some sort of voodoo its that group over there
well its a very big group over there and I tell people about it all the time
why because I enjoy being within the business
I like the cds
I like the people interaction
and I like the products
and mr Kiyosaki not only has cds in the list to buy also recommends the network 21 system
if you understand pasive income streams and that they main thrust of mr Kiyosaki then amway or systems like amway are the types that he is talking about
you can get residual income streams from comm and e explains that also but I won't be going to his syd one at this stage but that could change.
as for whos in it and are they a pack of radicals well the truth is that most of the high achievers in amway come from a professional back ground lawyers, ,accountants, bank managers,engineers, anyone can achieve if they want to.
oh and also network marketing does not as is the case with alot of other businesses stop you if you are as is in this post a bankrupt.

Sounds very odd to me, he's a bankrupt & I cant see he's ever been a director of a listed company.

in network marketing this is totally a non event nor does it stop you from getting residual income from your purchaseses.
I think a role model is someone that can achieve and if they can achieve from a position at the bottom and bankruptcy is as close to the bottom as most would want to go
then yes they are a good model for me
and if people have warran and mr siros as there models I think you will find that they may not be bankrupt but have cause hell of a lot of others around the world thru their driving down the pound, playing with the oil price and driving down the us dollar and playing with them all and in the mean time hell of alot of people have gone out the door backwards they are not my role models at all

 

[BayView]

May i post one comment regarding this.
Some small businesses are 'worth' 4-5 yrs profit figure as a sales price, and some are not.

Yes, I should have qualified my remark on that. There are some businesses that are worth that for sure, but it comes back to the cashflow aspect for me - especially if there is a significant % of the purchase being done in borrowings, and you are looking to have it managed and pay yourself a decent wage as well. I have looked at a few businesses in the price range that we can spend, with asking prices of 4 and 5 times nett profit. The nett cashflows were terrible after you factored in all of the above, plus stock. So, when presented to the Bank, the figures for them are bad, and they won't lend.

Just because one business is offerred for sale at 2 times profit and another type of business in a different industry is offerred for sale at 4 times profit, doesnt mean the 2 times profit is a better deal.

Quite true. However, potential business worth is sometimes what the vendors try to add into the price. So, it's up to the buyer to agree to that figure.

Twice i have had circumstances where people looking to buy 'cheap' have just shot themselves in the foot. Its ok for me as the money is banked, and i use very good lawyers, but not good for the other people involved.

Is this referring to deposits lost? I don't understand this sentence C.

 

[kissfan]

Twice nett profit is all I'll pay for any business, and a lot of these punters are wanting 4 and 5 times.

Hi Marc.

Please excuse my ignorance, but by the above statement, do you mean;

if advertised business is quoting 100K profit P/A, that you would be willing to pay 200K for the purchase of the business?

Sounds obvious, but just wanted clarification.

Regards
Marty

 

[Sunfish]

Twice nett profit is all I'll pay for any business, and a lot of these punters are wanting 4 and 5 times. Good luck with that.

Far too simplistic.


If you wanted to buy a professional's practice a years billings is where you begin to negotiate and there is no correlation between that and "profit". An established practice earns significant "good will". It you want to buy a tradesman's business however you would take little notice of "profit" and ask about his van and how much fuel in the tank. A hairdressing biz you buy the stock and equipment and the "quality" of the lease and just a little good will.

Buying a gold mine, you pay for ounces in the ground. The better proven the resource and more developed the mine, the more dollars per oz, even if it has never turned a profit.

The "worth" of a biz increases rapidly with size. Double the turnover you should do more than double it's worth. When it eventually becomes big enough to be listed or be taken over by a listed company it could be worth 10 times EBIT. Quality of the lease/value of freehold property is very important. It is a big part of the "moat" around your biz along with trade marks and other intangibles such as licenses (think pubs).

If I owned the sort of biz people here want ie something which has enough income to pay for full management which can run itself, you wouldn't get it from me cheaply.