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Rich Dad’s Rich Kid, Smart Kid: Giving Your Children a Financial Headstart, Vol. 1 (‘Fu ba ba, fu xiao hai-1’, in traditional Chinese, NOT in English)

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The Definitive Guide to Financial Success by Becoming a Webmaster

As the Internet grows on a rather grand scale- more web sites pop up on
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The number of Internet users is growing steadily. There are a zillion users
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The Author’s Craft – Discover The Secrets To Becoming An Author! + Bonuses

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Have you ever admired those individuals who take the incredible step of becoming an author? Do you ever find yourself wishing that you, too, could become an author?

Without the right tools and information, it could take you years and cost you a small fortune to learn the secrets and techniques to successful writing. Instead of spending a fortune on so-called experts or knocking yourself out with the old trial an

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Philosophy is defined as the most general beliefs, concepts and attitudes of an individual or group. A financial philosophy, therefore, is the development of general beliefs and attitudes as they relate to money and business transactions.

I began to think about this article months ago when it dawned upon me that I simply wasn’t getting the level of enjoyment out of my money that I ought to be. Each new purchase has become a cause of fear and anxiety rather than a cause of joy at having the resources to make the purchase. I poured over consumer reports for months looking for the perfect purchase until I realized that I hadn’t had a salad in weeks, produce freezing without end in my old refrigerator. I picked up a copy of Rich Brother, Rich Sister by Robert and Barbara Kiyosaki thinking that the Buddhist teachings of Barbara Kiyosaki would inform my spiritual thoughts about money. It didn’t. I have watched affluent friends research purchases until the joy of the purchase has long passed and finally, today, I read an article on a widely-read financial blog, The Simple Dollar, about haggling. The article was a about a reader who had proudly written in that they had haggled successfully at a dollar store!

I am reminded of Dr. Depek Chopra’s audio, Creating Affluence. To paraphrase: If you are constantly thinking about money, spending it, how to get more of it, then regardless of the dollar amount in your bank account, you are really poor. The antidotes to psychological poverty? Carefreeness and charity.

I was not brought up in poverty, the popular claim of so many financial authors, my upbringing was solidly middle class. My father always had a wad of cash on his person or nearby. When he passed on, I came to believe that his wad of cash was the only tangible asset that my father had. My grand parents were business people who thrived even in the segregated South. When my grandfather died, my grandmother managed the assets that he left her for almost 40 years. I always heard that my grandmother was cheap. I preferred to think of her as frugal. She had the funds to do what she needed to do and, in many cases, what she wanted to do. When she became ill in her later years, it was her resources, not the resources of her children, that paid her medical bills and assisted living expenses. My mother, like my father, is highly educated. She always earned a good living. “He is going to die and go to hell”, was the mantra that I often heard in childhood when an unexpectedly high utility bill came due and my mother was afraid to show it to my father.

In the 1970s, when I grew up, the dollar was worth something. Food and energy were expensive, iceberg lettuce was in, salmon came in a can, steak was a treat, and I thought the best cakes were made by Duncan Hines.

I was the kid who had a wad of cash hidden away in a coffee can. I was afraid to spend it and afraid someone would ask me for it. Wanting only to accumulate, and afraid to spend, I was afraid to make decisions about money.

My mother and I had a fight about money when I was in college. She wanted me to move some money to a different account and needed me to get some paperwork notarized. I resented the request and didn’t do what she asked. I didn’t feel trustworthy in the area of money and was angry that my mother had told me to do something I wasn’t comfortable doing.

My solution trustworthiness around money was to depersonalize money and to think of it as a tool, something to help me move from point A to point B. Since money was just a tool, it did not matter to me who owned the tool as long as I got to use it. I was therefore content to rent the tool. My mother tried to teach me financial lessons by sharing a credit card with me while I was in college. She had to take the card back because tool ownership was not a concept that I had learned to embrace. When I went to graduate school, I got a credit card of my own. Seemed a great deal that I could charge a lot and pay a little. Citibank and I became business partners, a relationship that would last almost 16 years. By the time I left graduate school I owed a manageable amount to Citibank. By the time I left professional training, I owed double the amount. By my second year in practice, I owed 12 times the amount plus a car, plus student loans, plus a mortgage and open lines of credit at other retail outlets. Yes, my philosophy was that money was a tool, but because I was only renting and didn’t own the tool, I found myself in bondage to Citibank, forever focused on the next pay raise as the solution to my problems.

My financial philosophy of buying what I want, using someone else’s money at a high rate of interest was not working. My nights were sleepless. I felt enslaved as much to my own habits as I was to Citibank. I read the Millionaire Next Door and my philosophies began to change. Robert Kiyosaki came into my life and I learned that income is not wealth and that my home is not an asset. Kim D. H. Butler, of Partners 4 Prosperity, came into my life and I realized that I have to have each dollar do as many jobs for me as it can, that one of my major responsibilities is to generate as much income as I can and that to the extent possible I have to retain control of my money, remain as liquid as possible and shun situations in which access to my money is restricted by law or the economic climate.

My key money philosophy shifted from one of renting the tool to owning or having clear control of the tool.

My clearest thought and philosophy about money is that it is to bring joy. Not that money buys happiness. It does not, but it does facilitate ease. It is the unexpected, but necessary, trip home to see family, the trip overseas, the gifts to charity, the new kitchen, the new car, the flower garden, the work of art. I developed some clear money rules about how and under what circumstances money could leave my account. But on the road to money acquisition new philosophies can clash with old money rules and the old dissonances can occur anew. That is certainly what has happened at times for me.

Save for a major purchase and forestall buying even if it means missing a major sale and saving money. Does that make sense?

Understand the time value of money, but does that mean that every minute not spent in revenue generation is a minute wasted?

Understand what it costs in work, sweat, and time to earn the money to buy a car and we understand the true cost of the car.

Developing a financial philosophy that serves and empowers rather than imprisons us is a personal development activity that never ends. Our relationship to money is defined anew as the complexity of each transaction increases and our thoughts about ourselves in the market place evolve.

Without evolving philosophies we risk slavery to poverty and sacrifice carefreeness and charity even as we gain material wealth. This is one of the greatest ironies of our time that differentiates the cheapskate, from the person driven by value and the haggler from the person living in abundance.

Ouida Vincent is an active real estate investor and entrepreneur who has watched her friends and family members struggle under the burden of home ownership and poor returns in today?s market. She has also watched talked with hundreds of business owners who have tried and failed to earn more money and establish multiple streams of income. To find business tips and key success philosophies go to

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Rich Marketer, Poor Marketer : Discover How You Can Use Robert Kiyosaki’s Powerful Financial Precepts To Market Yourself Effectively In Any Niche & Build Your Personal Power!

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Rich Dad’s Rich Kid, Smart Kid: Giving Your Children a Financial Headstart

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Becoming The Richest Man In Post Modern Babylon – The Financial Freedom Series! (Brand New) AAA+++

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Think about it… most people spend years at college just to get a degree.

The schools and colleges teaches people how to do their job but few ever teach people how to manage their money!


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Most of what has been drilled into our heads about investing in mutual funds, CD’s paying down our mortgage and diversifying is nothing but smoke and mirrors.  The financial services companies like Fidelity, Charles Schwab and financial planners are the ones making all of the money.  The problem is that most people have very little financial education in order to invest for retirement properly so they hand over their money to someone they HOPE will have the right knowledge base to safely increase their wealth.  The problem is that these investment types are HUGELY RISKY.  These types of asset classes, paper assets, do not allow the investor control.  Then during market crashes, all most can do is watch helplessly as their wealth gets whipped out along with their financial security.  If you have more control over your assets then you are not affected as much by market crashes.  For example, if you invest in assets like real estate that produce cash flow through rental income after all of your expenses are covered, if the real estate market and stock market crash you are still in great shape.  While everything is crashing you are still receiving your rents and do not need to sell the asset.  Investing in non-paper assets (i.e. not mutual funds or CD’s) allows you to use leverage as well which increases your wealth by making your money work harder for you.  Most financial planners will tell you that using leverage increases risk.  That is not always the case if you have the right financial knowledge to control the investment and enable safety controls on your leverage use.  They will also tell you that real estate is a risky investment.  The reason for that is that financial planners typically lack the financial knowledge about how to control real estate and make it profitable.  Most financial planners put people into paper assets where the investor does not have control and therefore it is hugely risky to use leverage.  In real estate investments the value of the property should not be based on the “opinion” of an appraiser but on the income that it produces through rents.  The value of the rental real estate is dependent on jobs, salaries, demographics, local industry, and supply and demand of affordable housing.  In a housing crash, the demand for rental units often goes up, which means rents increase causing the value of your property to increase.  You can control rental real estate and which geographic areas you invest in unlike paper assets that allow no controls.  Financial intelligence is the key to increasing your controls over your investments.  It’s extremely important to continue to increase your financial intelligence in order to protect yourself.  Unfortunately, financial intelligence is not taught in schools because such a large portion of the population, including teachers and politicians do not have a very high financial IQ.  When financial advisors say that an increase in returns means an increase in risk, they are right when speaking about the paper assets they recommend to investors that they make major commissions on BEFORE showing performance.  They are wrong when speaking for all assets.  Financial advisors are simply salespeople.  Most people invest in paper assets such as savings, stocks, bonds, mutual funds and index funds because they do not want to take responsibility and control over their financial well being.  All they want is to turn their money over to an investment advisor who hopefully does a good job.  Out of sight, out of mind.  If people want more control, the first thing they need to do is increase their financial intelligence and hopefully increase their financial controls and leverage ratios.

Most financial advisors recommend diversification but they do not really diversify.  First they only invest your money in one asset class, paper assets.  Second, mutual funds are already diversified investments which are invested in a pool of good and bad stocks which does not increase the value or decrease the risk of the investments.  Professional investors DO NOT diversify.  Warren Buffett put it perfectly when he said, “Diversification is a protection against ignorance.  Diversification is not required if a person knows what they are doing.”  So if diversification is a protection against ignorance then when you diversify whose ignorance are you protecting yourself from?  Your ignorance and your financial advisors ignorance?  Focus, not diversification, is the key to more sophisticated leverage, higher returns, and lower risk.

The point I am trying to make is that if you increase your financial intelligence about specific asset classes, like real estate, you will learn how to control your own financial security and wealth creation instead of relying on some financial advisor who probably does not know what they are doing.  Look at the massive wealth transfer that just occurred when the market crashed while bailing out the banks (i.e. the top 1% wealthy individuals increased their wealth while the middle class and poor decreased in wealth).  This happened because most people do not have the financial intelligence to protect themselves.  Starting to get financially educated is the key to wealth creation.  So get to the bookstore and start reading.  Take classes on financial intelligence and ways to increase wealth.  It is the key to your success and preserving your wealth so that financial predators (i.e. the government, financial advisors and the large mutual fund peddling companies like Fidelity and Charles Schwab) do not take all of your wealth away by investing it in asset classes that do not allow you any controls over those investments.


Owens Consulting Group founder Mathew Owens is a California licensed CPA and a full time real estate investor.  He has completed over 100 transactions in the past three years, representing approximately million in real estate, most of which has been sold to cash flow investors.  He does mulitple live educational events and online webinars.  Find out more info about him and his blogs at

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Rich Dad’s Rich Kid, Smart Kid: Giving Your Children a Financial Headstart, Vol. 2 (‘Fu ba ba, fu xiao hai-2’, in traditional Chinese, NOT in English)

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Naturally, most if not all of us want and crave for something

better. It is all part of us if we want a bigger car, a better house,

buying good things for the family. We keep hoping for more but, in

order to get what you don’t have, you have got to do something you have

never done before.

That simply means:

Doing the same thing over and over again YET expecting different


As an employee, you can’t stay at the same job forever a

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Rich Dad’s Rich Kid Smart Kid: Giving Your Children a Financial Headstart

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