cashrichdad

We have to define our priorities in order to have a clarity of our actions and know how we are heading towards our goals. Set your priorities according to your goals and then put your efforts in accordance to your priorities.

Steve Pavlina has written about prioritizing in a very good article. Definitely worth reading for anyone who wants to set his or her priorities right.

Every one of us have the same amount of time at our disposal, the same 24*7. Now it’s how well you use it what matters. This alone can change your present and the future. You have to work on your present to get what you want in future so your goals should be very clear and the time and efforts should be directed accordingly. Time Management Skills play a very important role in success of all the successful people.

People who use these techniques routinely are the highest achievers in all walks of life, from business to sport to public service. If you use these skills well, then you will be able to function effectively, even under intense pressure.

At the heart of time management is an important shift in focus:

Concentrate on results, not on being busy

Many people spend their days in a frenzy of activity, but achieve very little because they are not concentrating on the right things.

The 80:20 Rule

This is neatly summed up in the Pareto Principle, or the ‘80:20 Rule’. This argues that typically 80% of unfocussed effort generates only 20% of results. The remaining 80% of results are achieved with only 20% of the effort. While the ratio is not always 80:20, this broad pattern of a small proportion of activity generating non-scalar returns recurs so frequently as to be the norm in many areas.

So you have to put in a concentrated effort keeping a broad view of your goals. This way you will know, where your efforts heading and what are kind of results should you expect.

I have been posting on financial education, creating sources of residual income, making investments that give you a positive cash flow and so on. I genuinely feel that life itself is all about learning and we all are students in some way or the other. Learning is an ongoing process which goes on through out our lifetime. When we stop learning or close ourselves to new things, new experiences, new ideas, new thoughts we stop our growth.

I read so much about Robert Kiyosaki , people think he is against formal education which is not true .Kiyosaki is not against it , he just points out to the lack of financial education in our systems. Finances which touch many aspects of a human life should be taken more seriously.

Learning is only possible if we have a will to learn and we are not closed to new things. Most of the big names like Bill Gates, Richard Branson, Steve Jobs, to name a few that come to my mind, started their business from an idea. That idea worked because these people believe in their ideas. They experimented with their ideas, worked on them and turned them into reality. All because of an open minded approach. Kiyosaki himself was bankrupt twice. He had the courage to be a multi millionaire again because he learnt from his mistakes.

Now it’s not necessary to reinvent the wheel again. We don’t have to make the same mistakes ourselves and then learn how not to make them. We should try and learn from the people who have already gone through the hard part, who have already tested the grounds. So we should try and get it from successful people on how they did it? How did they achieve the extraordinary? How did they overcome their battles? What made them so successful? This is a valuable thing to know and will make you do better, so be open minded and keep learning…

I would be happy to know your thoughts over it.

“Face your fears and doubts, and new worlds will open to you.” Robert Kiyosaki

 
Learn from Robert Kiyosaki and other world’s best gurus…..on your way to success and financial freedom, inspired…

Your partner in success…
Gagan

Adding to the line up of books Kiyosaki released the latest one a few months back teaming up with another well known and successful man Donald Trump.

The rich may be different, but millionaires and billionaires are people, too. One of the more entertaining aspects of Why We Want You to be Rich: Two Men, One Message by Donald J. Trump and Robert T. Kiyosaki is the glimpse into the private lives and motivations of these two very wealthy men who are committed to teaching financial literacy to as many people as possible. Beyond the entertainment”and certainly more important”is the information and the primary message, which is that you need to take charge of your own financial future.

The book is divided into five parts. In the first, Trump and Kiyosaki explain how they met and decided to write the book. In the second, they explain their theories on investing and why investing to become rich is not risky but very predictable”if you know what you’re doing.

Parts three and four are worth reading and rereading. In part three, Trump and Kiyosaki share defining moments in their lives. Each chapter asks a “what did you learn from …” question, and both authors reveal significant insights into what has shaped them into the men they are today.

Responding to “What did you learn from your father?”, Kiyosaki notes: “Our traditional education did not prepare us for the real world. It prepared us to be employees. … Regardless of whether we are rich or poor, smart or not smart, the one common denominator we all have is that we use money.” To the question “What did you learn from your mother?”, Trump writes: “My mother’s advice was simple but wise. It cuts to the core and keeps me focused and well-balanced. ‘Trust in God and be true to yourself.’ It doesn’t get any better than that.”

In part four, Trump and Kiyosaki offer advice for readers at all stages and situations. No, they don’t explain step-by-step how to invest in a property or choose a stock; instead they show readers how to educate themselves and take control of their financial lives, regardless of where they are at the moment. They don’t tell you what to do; they tell you how to figure out for yourself what is best for you.

Finally, in part five, they push to you develop a plan and take action. They write: “Ninety percent of the investing public wants to be given the magic formula, the answer that will make them rich. … You will need to find your own magic formula.”

The book concludes with both Trump and Kiyosaki urging you to do some serious and perhaps even painful self-evaluation. By itself, this book can’t change your life”it’s just words on paper. But it can guide you to the plan and tools to do it yourself.

Trump and Kiyosaki, along with their co-authors Meredith McIver and Sharon Lechter, have produced one of their best works with Why We Want You to be Rich: Two Men, One Message.

So its worth thinking over it.

Learn from Robert Kiyosaki and other world’s best gurus…..on your way to success and financial freedom, inspired…

Your partner in success…
Gagan

I have posted on time management in the past Its important to make your time count because we all have the same amount of time as such but its how effectively we use it, matters!. A few minutes of planning your day, every day, can bring you joy instead of frustration. So here’s an important question: How well do you plan your day?

Most people do very little planning. They find themselves going through life almost blind. They are not proactive - life happens to them instead of them happening to life. We’ve all heard the adage, “If you fail to plan, you are planning to fail.” Here’s another important question concerning time management: What if that’s true?

Take a moment now and prove something to yourself. Think back over the last five days and ask yourself this question: For each day, how many minutes did you spend planning it? Now before you begin computing how much time you spent planning your day, realize that the time in the shower doesn’t count, nor does the thinking while walking your dog, or while you were on the way to work. Yes, those can be significant times to think, and I don’t want to belittle those times. But I’m talking about something different here.

I’m talking about those times where you sit in a peaceful, quiet place where your thoughts can become more concentrated. A time where you close your eyes and actually see what you want to happen that day. where you actually feel confident about the outcomes that will come from your planning.

Ok, you’ve taken some time to think about the last five days. So… how much time did you actually spend planning?

If you discovered that you didn’t really spend that much time, then it would be wise for you to follow a time-tested piece of advice that says you should spend at least ten to twenty minutes at the start of each day planning your day. If you will actually do this, and are diligent about it each day, seven days a week, then you will find results will accrue that will make your life far happier and much more efficient. So much more of the good things will happen in your life. And in the end, isn’t that what we all want?

Leveraging Your Time

Ten to twenty minutes of planning your day is one of the ways to leverage your time. What does this really mean? Well, let’s look to the business world. What does leveraging mean there? I have written about leveraging in my post ‘Leveraging to be RICH ’

Your time can also be leveraged in much the same way. By investing small portions of your time into certain activities, you can actually free up time throughout the rest of the day. Planning your day, every day, becomes your time lever.

Your cost in time is small; only ten to twenty minutes per day; but you will enjoy many more benefits from this investment all day long.

Your planning will also makes it so you entirely define your daily tasks. You won’t be as surprised when something happens. That doesn’t happen for most people.

No matter what happens, you will most likely have given it some thought in your planning sessions. This will make a big difference in how things work out.

You’ll also find you are more precise in your actions, which is always a plus as a time saver. You’ll meet deadlines on a more steady basis. The result of all this is a greater number of accomplishments.

Having understood how little of our time is needed to invest into something that can give you so much benefit, isn’t that worth a few minutes each morning? The author of Getting Things Done, Edwin Bliss, said: “The more time we spend on planning a project, the less total time is required for it. Don’t let today’s busywork crowd planning time out of your schedule.”

Summing up, if you will get serious about planning each day, your days will bring more accomplishment, more happiness and will bring you the good life. Don’t join others who just go through the day hoping things will get better. Plan your days and you will get more from them. And the probability of success and failure depends a lot on how you use your time and how proactive you are.

“Your future is created by what you do today, not tomorrow” Robert Kiyosaki

Learn from Robert Kiyosaki and other world’s best gurus…..on your way to success and financial freedom, inspired…

Your partner in success…
Gagan

There is a business report which I would like to share about the rich using debt as a financial tool to make more money.
 

Statistics in the US and South Africa show that the rich are increasingly accounting for a disproportionately bigger share of borrowings from banks.

Too much inequality is not good for any society, much more so in a country like South Africa where much inequality is a result of racial discrimination.

So the rich know how to use all that debt to their advantage. Kiyosaki’s rich dad series is one of the best sources to learn about debt and investments.
 
Learn from Robert Kiyosaki and other world’s best gurus…..on your way to success and financial freedom, inspired…

Your partner in success…
Gagan

Kiyosaki had rich dad as his inspiration. He had a burning desire to be successful and that desire was strong enough to take him through the path of success.

Are we living in our comfort zones? Are we managing the things that affect our life and our future well enough .most of us are too busy in our fast paced day to day routines that we don’t even take time out to think about where we are heading .

It’s more like reacting to the situations rather than being in control of them. To be proactive, taking control, making the most out of the resources, arranging for what is lacking and achieving the smaller achievable targets are the essential ingredients to success.

We have to slow down at times to plan out and manage our lives. Set our priorities and evaluate our past experiences to eliminate the wastage of resources and energy.

“The size of your success is measured by the strength of your desire; the size of your dream; and how you handle disappointment along the way” Robert kiyosaki
 

Learn from Robert Kiyosaki and other world’s best gurus…..on your way to success and financial freedom, inspired…

Your partner in success…
Gagan

If there’s a topic that parents dread talking about with their kids more than sex, it’s probably money. Not so long ago, the question: ‘’How much money do you make, Mom?'’ might have elicited the brusque reply: ‘’None of your business.'’ Today things are changing. In a culture inundated with gossip about celebrity incomes, stock-market chatter, and TV shows such as Who Wants to Be a Millionaire?, family experts–and parents–believe tackling these types of queries head-on is the best policy. Even if you don’t disclose your actual earnings, you can parlay your answer into either a discussion of economic and social values, or a lesson in money management.
 

Educating kids about money is a tall order. Parents must transform an abstraction into something concrete, and then put it in its proper place in the family’s life. With so much of our identities wrapped up in how much we make, money can be a highly emotional issue. As for money skills, parents get little help from schools, which usually don’t offer instruction until high school. And schools don’t pay enough attention to financial education as Robert kiyosaki also quotes.  '’If parents don’t take the time to answer their kids’ questions about money, the school of hard knocks will,'’ says Dara Duguay, executive director of the Jumpstart Coalition for Personal Financial Literacy
 

So welcome the questions as a chance to teach. It helps to remember that your child’s age and your own comfort level will steer you to the answers
 

Don’t wait for questions to begin fiscal education. Even with a toddler, it’s not too early to dispel the notion that ATMs generate money. Each time you withdraw funds, explain that the money comes from Mommy and Daddy working, and that the bank is merely storing it for the family.
 

The time to really open your balance sheet is when your child is making choices about college, says Elissa Queen, a children’s therapist in Woodmere, N.Y. You can then dispel any mistaken assumptions your kids may have made about the family’s resources. And you can work as a team to pick a school that best suits your child’s academic needs and the family’s financial ones. And the teen years are usually when youngsters make their first foray into the working world. Many experts say a job is essential in teaching kids the value of money, as long as it doesn’t distract from the teens’ real job–school.
 

No matter what the ages of the children, parents need to be frank when finances take a turn for the worse. Children learn more by watching what their parents do than by listening to what they say. So the more consistent parents are in their own financial behavior, the better examples they’ll be. If you’re not clear yourself about what money means in your life, you’ll never give the children satisfactory answers to those thorny money questions.We should try and give the financial education to children as early as possible. And this will help them all along in anything they choose to do. They should know how money works and the importance of money.

Employees are resource-oriented. Entrepreneurs are opportunity-oriented.-
 

A person with an employee mindset might say, “I would start my own business but I don’t have the money.” The person focuses on their resources, in this case their lack of money, rather than the opportunity.

In a similar situation, a person with an entrepreneur’s mindset might say, “Let’s start the business and we can finance the business from the cash flow.” Or “Tie up the property and we’ll find the money later.”

Kiyosaki’s rich dad said, “If you do not have resources, you need to become resourceful.” Poor people say ‘I can’t afford it.’ That’s why they’re poor’. According to kiyosaki, when we say I can’t afford it, we just shut our brains to the opportunity, instead we should ask “how can I afford it”