I talked to Donald this morning and he mentioned he will be on WWE Raw on Thursday night with WWE Chairman Vince McMahon. They've agreed to a Battle of the Billionaires. The WWE web site states that the loser will have to shave his head!
He also said that, at least its better than wrestling Rosie...
Its great to have friends like Donald -
Robert
Happy Valentines Day! The smartest thing I ever did was to marry Kim. In my opinion, the best definition of love is, you love somebody for what they are and for what they are not.
May you find love - the best spiritual asset in the world.
Robert
Since I am an old guy, soon to be 60, I have done my best to avoid the web. But I know I need to keep learning. So here is my first blog.
For years now, I have been hearing about people pretending to be on the web. Recently, a person showed up at my office expecting a meeting with me. When my assistant asked the young person who set up the appointment, the young man said that I did. He sincerely believed he was talking to me via the web. My assistant, knowing that I know nothing about the web, I don't use e-mail, I barely use a cell phone, knew that he had been e-mailing with someone impersonating me on the web.
My question is, why would someone want to impersonate me? I know people do...but don't they have a life? Don't they have anything better to do?
In response, I decided I would write my first blog. So to all of you out there in cyber-land,without anything better to do, especially those that sit around criticizing me, I recommend you get a F-ing life. Instead of impersonate me, or spend your worthless life criticizing me, why not develop a personality and spend more time criticizing yourself.
End of first blog.
Robert Kiyosaki
Here is a sneak peek at the brand new television show, Rich Dad Presents: Robert Kiyosaki's Why The Rich Get Richer. Enjoy!
Letter to the Editor of The Wall Street Journal
In response to Getting Going article by Jonathan Clements, October 11th
The recent article by Jonathan Clements on the new book Why We Want You to be Rich I wrote with Donald Trump had very little to do with the message of our book, and everything to do, apparently, with his personal agenda.
We wrote the book to stress the importance of and dramatic need for financial education. Why is it we do not teach financial education in our schools? Through financial education you can become an active investor rather than a passive investor.
Without financial education, you may indeed be best served by being a passive investor and turning your money over to a financial advisor to invest in mutual funds. However Mr. Trump and I stress that by becoming financially educated you can become an active investor and create a better financial future for yourself and your family.
It is your choice. Do you want to be a passive investor, or an active investor? Do you want your financial future controlled by your employer, government, financial advisor, or financial journalist? Or do you want to be in control of you life?
While our advice may fly in the face of the traditional advice (“save money, invest in mutual funds and diversify”) it provides a fresh alternative to this tired mantra. How many people do you really know who have become financially free through saving money and investing in mutual funds -- in comparison to people who have built successful businesses or invested in real estate? We trust your readers know the answer.
Mr. Clements does not argue with the fact that we face a “growing trade deficit, burgeoning national debt, a depreciating dollar and baby boomers with inadequate savings, all of which makes our financial future shaky.” However, in the face of these dramatic economic shifts, his advice is to do more of the same old advice, “purchase funds with rock-bottom annual expenses.” In essence, remain a passive investor, ignore these dramatic uncertain economic times and hope for the best. We suggest that it is time to change the status quo, get educated and become an active investor.
In comparing the differences between the various investments — businesses, real estate and stocks or mutual funds — we stressed the difference in the amount of control you have as an investor. For instance:
Ask yourself, do you have more control over your mutual funds or your own business?
Can you call the mutual fund manager and discuss the investments he is making? Not likely.
As a shareholder of a blue chip company, can you call the president of the company to discuss the corporate strategy? You can certainly place the call… but will the president take it? Not likely.
Mr. Clements fails to even mention the topic of control even though it was a significant part of his discussion with me. Owning your own business not only enables you to have more control over your investment, it also allows you significant tax advantages.
Even more blatant is Mr. Clements’ assertion that you “can borrow against funds held in a brokerage-firm margin account and investors make tax-deferred exchanges all the time, by trading within their retirement accounts.” He doesn’t tell you that when you borrow on margin you are borrowing against your own personal equity, and you are personally liable for any loss. In contrast, when you borrow your banker’s money for a piece of real estate you can receive non-recourse financing, where only the underlying real estate serves as collateral. You are NOT personally liable in a non-recourse loan.
What he also fails to tell you is that by holding stock and/or mutual funds within a retirement account, you are converting the tax rate from a long-term capital gain rate of 15% to an ordinary income rate when you withdraw the money from the account at the much higher level of income tax. In other words, you are foregoing paying 15% on income today so you can pay up to 35% on it later. (Plus any related state income tax).
Why would anyone ever do this? Because Mr. Clements would tell you that when you retire your income tax rate will drop and therefore your tax rate will be lower. This may be true if you are not rich… or not planning on ever becoming rich. Do you really want to plan on being poorer?
Why We Want You to be Rich was written because Mr. Trump and I want you to plan on being richer, not poorer, in your retirement years.
Finally, Mr. Clements contradicts himself, providing the very proof that a mutual “fund company ‘receives 80 percent of the returns.’” When he states, “Mr. Bogle does indeed note that, if you invested $1,000 at 8% a year and paid 2.5% in total annual costs, your gain after 65 years would be $32,465, or almost 80% less that the $148,780 your would have amassed if you hadn’t incurred any costs.” You can do the math.
However, we would further state that the same $1,000 a year could generate a much greater return than even the 8% if you become financially educated and become an active investor.
In the final analysis, we would tell Mr. Clements that it is not what you do for your paycheck that is important. It is what you do with your paycheck that will make you poor or rich.
Financial education can give you back control over your financial life.
Robert Kiyosaki
With Sharon Lechter CPA
We received these photos of a bookstore display in Malaysia. Incredible
the job they did in promoting Why We Want You To Be Rich. This truly shows the global reach of the Trump and Rich Dad brands.
Also, we just received the news that Why We Want You To Be Rich is #1 on the New York Times best seller list for the week of 29 October! Thank you for making the book a #1 best seller!
As of 3pm Eastern, 7 of the top 11 books in the Personal Finance best seller list on Amazon.com are either Rich Dad, Rich Woman or Why We Want You To Be Rich books. Impressive showing! Thank you to all of you that continue to increase your financial education.
Why We Want You To Be Rich is currently (Monday 11pm Eastern) #3 on the Amazon best seller list. As Donald mentioned on The Today Show this morning, there are plenty of people out there that are wanting to make a change in their lives and recognize that if they don't, they'll end up on the losing side of rich vs. poor. We hope that each of you that read the book finds some motivation to continue your financial education. Your most valuable asset is your education.
Donald Trump and I got together to write Why We Want You Be Rich
because we truly are concerned about the disappearing middle class. We
talked about that this morning on The Today Show. Thank you to so many
of you who bought the book. We think the message is vitally important.
Please share the information with your family, friends and associates.
With gratitude,
Robert Kiyosaki
Tons of PR is scheduled for next week when Why We Want You To Be Rich is scheduled to be released. Here is just a taste:
The Trump/Kiyosaki Paula White show airs on several networks on October 16, 22, 23, 27 that I know of. The list of stations are below.
Robert and Kim on Paula White airs October 9 and 20th TBN/Daystar/WORD and October 16th on SPIKE and October 12th on BET.
Kim on Paula White airs October 2nd on all networks.
Spike TV
Monday
7:00am EST/ PST
Trinity Broadcasting Network (TBN)
Monday – Friday
7:30 am EST
Sunday
2:30 pm EST
Monday & Friday
1:30 pm EST
Black Entertainment Network (BET)
Tuesday/Thursday
7:00 am EST/PST
Day Star
Monday - Friday
5:00 pm EST
Sunday
7:30 pm EST
The Church Channel (TCC)
Monday - Friday
9:00 pm PST
CTN Channel 22 Tampa, FL
Monday - Friday
5:30 pm EST
Word Network
Sunday
10:00 pm EST
Monday - Friday
12:30pm EST
Wednesday
9:30pm EST
FOX WNYW New York
Sunday
7:00 am EST
KCOP Los Angeles
Sunday
8:00am PST
VTN Little Rock AR
Friday
8:30 pm CST
WFGC West Palm Beach
Mon, Tue, Wed
12:30 pm EST
WFGC - CTN West Pam Beach
Monday - Wednesday
11:00pm EST
WTGL Orlando
Monday - Friday
8:30am EST
Radio (Eastern Time)
WYAH 93FM
Chester, KY
Monday - Friday
7:00 am CST
KDLA 1010
Deridder, LA
Monday - Friday
10:00 am CST
WGRB 1390 Chicago, IL
Monday - Friday
7:00 pm
Apostle Internet Radio - http://www.apostleradio.org/html/Programs.htm
Monday - Friday
12:15pm & 7:30pm CST
WTMN 1430 AM Gainesville, FL
Monday - Friday
1:45pm EST
KFSA 950 AM Fort Smith, AR
Monday - Friday
11:15am CST
ZFB AM 1230 Bermuda
Tuesday - Friday
12:30pm Atlantic
