Rich Dad’s Myths About Money

8 Financial Myths on Money According to Robert Kiyosaki.

I just finished watching Shooting The Sacred Cows of Money,” a pointed yet powerful, keep you on the edge of your seat,video series by Robert Kiyosaki, author of the Rich Dad series of Books. After watching these enlightening videos I HAD to be sure you can see it too! You can use the information that’s on these videos right NOW to double your recruiting efforts to your business. It is amazing, and it does not cost you anything at all. I can’t believe Mr. Kiyosaki put these videos up for 0 cost.

As an avid Rich Dad series reader I was quite impressed by the intense financial education shared in the 8 video series that is geared to anyone who is at a point of their life or just starting out and need some direction as to how to plan their financial future. Mr Kiyosaki along with special guests dispels some of our traditional myths about money that has left millions of people stuck or struggling financially.

Here are the 8 Sacred Cows that’s Discussed in the series about Money:

1. Go to School

2. Get A Job

3. Work Hard

4. Save Money

5. Your House Is An Asset

6. Get Out of Debt

7. Live Below Your Means

8. Invest For The long term

Here in the USA where we have access to so many resources, talent, a stable economy and opportunities I wonder why is this program not taught in our schools. We’ve already learnt that the old set of rules about going to school to get an education teaches us to be employees instead of entrepreneurs.

What’s self evident is that the rules of money we’ve been taught in schools has changed in the past few years. According to Robert Kiyosaki, “without financial education,you have to go out and get a job..whats tragic today is that people are losing jobs and are going back to school to get a job to compete against their kids”

This is a sad situation considering that back in June 2010 tens of thousands of Americans exhausted their unemployment insurance. Unemployment extension has been passed, but congress is unwilling to continue the benefits beyond the 99 weeks the government currently allows many U.S. citizens access to in a tough economic climate.

As we know, never before has the job market been flooded with a huge influx of older workers, Currently the unemployment rate for people 55 and over is at the highest since 1948. Today we are seeing that age discrimination is severely compounding the job crisis for older workers. According to the US Department of Labor Bureau of Labor Statistics in a report earlier this year, older persons who do become unemployed spend more time searching for work.

The report also states that In February this year, workers aged 55 years and older had an average duration of joblessness of 35.5 weeks, compared with 23.3 weeks for those aged 16 to 24 years and 30.3 weeks for those aged 25 to 54 years. For example, nearly half (49.1 percent) of older jobseekers had been unemployed for 27 weeks or longer in February 2010, compared with 28.5 percent of workers aged 16 to 24 years and 41.3 percent of workers aged 25 to 54 years.

Will these statistics ever improve if there is an upturn in the economy? I believe they will improve for the other groups but for the older workers, not very much. This I believe will always be a way of life, but not what we will want to look forward to, unless we take our future in our own hands..

As a child growing up in school in beautiful Montego Bay Jamaica our education system taught us the same regarding go to school and then get a job. I noticed something from an early age that stayed with me when I migrated here to the USA. In a struggling economy with an uneven balance of trade and close to 30 percent unemployment most people had to figure out ways to support themselves and by default many started small businesses and became entrepreneurs.

I always felt a disconnect from what I learnt in school and what I was actually doing while working in the corporate world. Finally in 2004 after 14 years in the corporate world, working for three companies that went bankrupt and getting fired from two I felt burnt out working a job. I then realized that I had to put my future in good hands, my own. Never was I going to attain the freedom I so desired to be able to not miss my children growing up and have time for my family working a job. It was then I …

Real World Lessons On Inventory Financing From Purchase Order To Cash

It’s possible. It’s certainly not easy though, but inventory financing and purchase order finance are two little known and under utilized Canadian business financing strategies for business owners and financial managers.

In certain industries, probably yours if you are reading this!, inventory is one of your key assets. The turnover and financing of that inventory play a key role in your sales and profit growth. You ability to purchase and turn inventory are key to the earnings you generate. That’s why when clients ask for information on their ability to finance purchase orders and inventory it becomes critical that they understand their options and the cost of those options.

It’s worth stepping back a bit and focusing on the fact that your ability to manage your inventory will play a key role in the ability to finance it. Simply speaking your ability to demonstrate turnover of product, controls in purchasing, and as important, and your firm’s ability to demonstrate reporting around this key current assets on your balance sheet.

The purchase order/contract and sales generation is of course the ultimate balance act for any firm – no inventory, or improper levels wont allow you to fulfill sales, too much inventory can drain cash flow.

Financing inventory in Canada really boils down to two essential solutions, your bank, or independent finance firms who are willing to take greater risks and offer you additional leverage on financing your products. Why do they take more risk – simply because it’s their business to understand your industry and the nature of your products and the ultimate salability or liquidation value? Their expertise in this area translates into greater borrowing power for your firm – and that’s a good thing!

Investing and monetizing your inventory is a good thing, provided that the inventory produces a solid rate of return – therefore financing and management of your products is key to overall business success.

Inventory financing and purchase order finance is Canada is available, it’s also specialized. As your firm generates new contracts and purchase orders that you are having a challenge in fulfilling (because of finance and cash flow pressures) you should consider finding an alternative source of financing based on your overall current business financing with your senior lender, typically a bank.

Specialized inventory financing and purchase order finance firms are most likely your problems solution. Funding is provided to fund the cost of your products with your suppliers, and the actual day to day finance strategy is much focused – payments are made to your suppliers, often directly, allowing you to receive product, and ship, thereby generating a receivable. Receivables turn into cash and the cycle is complete.

Inventory finance works best when it involves a holistic approach of collateralizing the purchase order, the inventory and the receivable that you generate as sales by its necessity typically involves a non banking institution, i.e. the private independent finance firms we’ve discussed. One tool, an asset based line of credit which collateralizes inventory, A/R, and even equipment is often the total solution you are looking for.

Speak to a trusted, credible and experienced business financing advisor to ensure you understand solutions available to inventory and p o financing for long term sales and profit growth.…

Real Web Traffic Generating Options – Available at A Low Or Zero Cost

The internet is the greatest sales tool ever invented. Learning to wield that tool effectively, however, is a much different story.

People once sold their goods and services in a marketplace that they and their customers had to travel to before bartering, negotiating and completing a transaction. Later, print and other media like radio and television offered a medium to present products and hook potential customers, who might travel to the marketplace or place an order via a catalog and snail mail or over the phone.

But with the net, retailers and their affiliate marketers can access to customers instantly via a mouse click, with a real-time transaction a possibility from a customer’s home computer. The buyers are there… sitting in front of their screens, credit cards in hand… searching for the product they want and willing to pay immediately.

But getting your website, your classified ad or affiliate product link in front of them can be tricky, especially for the new web marketer. Paid advertising via search engine advertising from services like Google AdWords or Yahoo can ensure your ads are viewed by internet traffic. But they are no guarantees a sale will be made, or that the person clicking on the paid ad (which costs you money) is even a qualified sales prospect. Traffic-generating systems address these specific issues with low or no-cost solutions, but the majority of marketers are unaware of these and continue to pay top dollar with pay-per-click advertising. And the leads (i.e. potential customers) generated from pay-per-click may just be surfing, and clicking through your ad was just one more stop on the way to an evening of internet browsing.

That’s what happens to many in the affiliate marketing game. They’ve resolved to earn a second income, a separate revenue stream, through a work-at-home business. The idea of making money online, from the comfort of home, is enticing and within reach. But for many, the costs of paid advertising and purchasing the latest home business system “guaranteed” to make them rich, has left them in the red. Their home business experiment has actually lost them money, not been the terrific financial addition to their family’s income. But people are making money on the Internet, and they are receiving the sales traffic they require without the burden of expensive paid advertisements.

But how? Free advertising is one option, but it is certainly more time consuming. Posting free ads to web marketplaces like Craigslist, Backpage and Oodle can have results, but free ads cycle off of main advertising pages and rarely get significant views for more than a day… and in some cases, for no more than a few hours. Then how can you anchor your affiliate or web link online where qualified prospects can view it again and again, and perhaps attract the attention of search engines like Google? Traffic-generating business models like the one at have the answer.

Online e-zines and other websites that feature topic-specific articles are proven resources for online marketers. By writing articles and submitting them to various net article directories, you can have your article cataloged, featured and even prominently displayed on front pages of the major search engines. That is more likely to happen if you’ve submitted the piece to multiple directories. But for the promise of high search engine page results and months, even years of traffic to your marketing target ad or website, article writing is more than worth the effort.…

Know Your Family Health History

If your great grandchild asked you if you could make him or her better, would you? Of course you would.

See this opportunity as a way of protecting those you love. Knowing your family’s genetic health history may save you suffering from, or preventing, undiagnosed yet predisposed diseases. Pay it forward a few generations by creating a Family Health History Tree.

By knowing your family’s health history you will be pro-active in discovering possible health problems earlier than later. Imagine if you found out there was a history of breast cancer in your family. Just think about how you would feel if your husband had developed prostate cancer at a relatively early age. But it could have been monitored early and possibly prevented had he known that his uncle had passed away from it.

A safe place to keep your Family Health History Tree would be with your will. Amendments to the Tree could be made as various medical facts are revealed about current and past family members.

The more everyone knows about a family’s genetic history, the better.Imagine being adopted and simply not knowing this lineage? Some of us are a little guarded or shy in sharing our own health history, even with family members. Here are a few ways to go about it.

At the next family function or reunion, have any older children present the concept of a Family Health History Tree as a “School Project”. It’s hard to turn down a possible life-saving health project such as this, especially when they want to do well in School.

Add a few pages into your child’s baby-book. But first send out the info page you need filled out to every adult person in your family.

Start the gift of giving for everyone’s future. Detail your own family history and give it inside a Christmas, anniversary or birthday card, as a sign of how much you love them and how easy it can be. There are even better occasions to start the trend, such as when a baby is born or at a wedding.

For example here are a few sample questions to ask to get the ball rolling:

Since we know many cancers can be passed on from generation to generation, do you know of any pre-existing conditions that could possibly be passed down such as cancer? Or schizophrenia? Or spinal muscular atrophy? Or Huntington’s Disease? Or Systic Fibrosis?

Can you remember if you have had all of your adult vaccines or childhood immunizations?

Can you remember every one’s history in your family as far back as records will show?

If you are the only one remaining in your family here are some places to start to generate some answers:

Funeral Home Records. These records can go back into the late 1900s, and often the Funeral Home keeps the records as they were originally kept “for public health purposes- to alert officials of diseases or trends of concern, especially in cities and populated areas”.

Obituaries. From the late 1800s, the obituaries section of newspapers are a very popular section. Earlier on they even detailed the cause of death; however, today’s era masks them or omits them completely.

At your next family gathering, make things fun and interesting by awarding prizes to the ‘team’ that comes up with the most inherited medical disease facts. Congratulations in then taking the preventative steps necessary and thinking ahead for your family’s future.…

So How Can I Get Money to Start My Own Business?

When someone has an excellent idea for a new business, it can be a very exciting and scary time. There are many things to think about when it comes to startup, not the least of which is getting the money to get the venture off the ground. If someone is wondering how can I get money to start my own business, they should look into all of the available options and decide what works best for them.

Ideally, a person starting a business would be able to fund the project with their savings. When costs can be covered upfront, there are no interest charges and there is no risk of going into unmanageable debt over the new business. If someone does not have enough money in savings to start their business, they may want to consider taking on a part time job and putting their supplemental earnings towards their new business.

Another option is creating a business proposal and seeking outside investors. This is a popular route to take, but it requires a great deal of careful planning. It is necessary to write a proposal that clearly states the goals of the business in terms that could be understood by anyone. Remember that not all potential investors will necessarily be familiar with the jargon of the business.

When borrowing money looks like the way to go, it is a good idea to first ask friends or family members for the loan. If they have the money to lend, they will most likely be more willing to do it at a lower interest rate. Avoid an awkward situation where money comes between loved ones by establishing a structured loan agreement detailing the payback terms for the loan.

If borrowing from friends and family is not an option, then it may be necessary to go to the bank for a loan. In this case, it is best to apply for a business loan rather than a home equity loan. It is important to be realistic and know that there is a possibility of the business failing. If this happens, and it was started up with a home equity loan, someone could potentially run the risk of losing their home.

Starting a business is a big decision and should not be undertaken on a whim. Before getting started, it is important to think about how can I get money to start my own business. It is best to use savings and pay the expenses up front but, if that is not possible, it is important to make the most responsible choices possible for borrowing money.…

Starting Your Online Business – 3 Tips For Going From Saturday Morning Blogger to Full Time Marketer

While I was still working full time, Saturday morning became the time for me to write articles, post to my blog, and create new products. I stopped shopping for anything more than food and essentials, turned off the television, and delegated many activities to family members. The result was that my life became more organized, I was more focused on my goal, and everything seemed to work much better in my life.

If you are working on becoming a full time online marketer, see if any of these ideas will work for you. This is my plan for going from Saturday morning blogger to full time marketer in six months or less.

Turn off the television. I have written about this before, but I know some of you are still looking forward to the new fall lineup of programs. Set your recorder and watch them later. Then you can speed through the commercials and see which shows you simply can’t live without. Choose just one show to watch in replay for the next six months and see how much more time you have.

Stay away from the mall and other retail stores. Shopping became a mindless activity for me for many years. I believe I went shopping to relieve the stress of working two jobs and not having the life I wanted. Now I only shop for the exact items on my list. I also park next to the entrance of the store I need to visit so I am not distracted by any other stores.

Ask family and friends to help you. I was always the one who would pick up the dog’s insulin at the vet’s office, drop off and pick up dry cleaning, and do other things that took time I needed for my business. Now I have delegated those activities to others and I can’t imagine doing them again. See what you can delegate and I promise you will not return to your previous ways.

These are just a few ways to free up time so you can get to work on your online business. I can guarantee this will change your life.…

The Commercial Mortgage Refinancing

Commercial mortgage refinancing options are getting more difficult to determine and take to closing. It is very important to know which banks are offering the lowest rates and which ones are still funding loans and to thoroughly check these lending institutions out to make sure they engage in fair lending practices.

The rates for a commercial mortgage refinance are not as low as the conventional type mortgages such as those for private residents. The rates on a commercial mortgage refinance will be somewhere around two percent points greater than a home loan. The savings are great for a lot of people who are seeking this type of refinance package, usually because they have a lien on their property.

A lot of companies have been forced into a commercial mortgage refinance in order to have working capital. The economic situation has caused a lot of banks to freeze their company’s credit lines. Many of these businesses turn a profit regularly, but they rely on said lines of credit to finance their own working capital with which inventory is ordered, equipment purchased, pay roll and many other necessities.

Residential property values have plummeted downward and no longer generate the same income that they once did. While commercial property values are holding on, they, too, have suffered from the economic downfall. A lot of these properties fail to generate an amount equal to the income they used to. Additionally, there are far fewer borrowers in today’s market. The property owner is hurt in a couple of different ways. First, property owners tend to over leverage and are not able to get a commercial mortgage refinance. Second, this hurts a lot of home owners who are able to refinance home equity mortgage. This is because they cannot get the same amount of cash out of their properties when they procure a commercial mortgage refinance.

As the economic climate starts to recover, more money is being made available for commercial mortgage refinancing. However, the economy is not yet out of the woods and the deficit is steadily increasing. This does not bode well for business owners who are seeking immediate funding. However, it is good news for borrowers a little further down the line. It is predicted that two years from now, the economy will be back on track and lenders will open their doors wider. Not all borrowers can wait that long, but those who can will.…