Robert Kiyosaki - New Rules of Money, Part 4/7: Assets Vs. Liabilities

[drf7at1]

He did not retire at a young age. Most of his money is made from these get rich schemes. This IS his full time job. What a fucking scam. Get an accounting degree people. You'll realize he talks nothing of substance but gets you hooked to buy more of his products. Think about it. Pay him $5000 to attend his seminar and buy his books. Asset of liability? BIG LIABILITY. NO MONEY INFLOW FROM THAT

[kristakubie]

@drf7at1 --Have you read "Retire Young Retire Rich"? He completely retired in his early 40's with 6 figures a year of Passive income. When he said "retire" he meant if he didn't want to work, he didn't have to ever again. Did you retire by age 40? If so, I would love to know your strategy... $5K is for the privilege to learn from Kiyosaki in person--I would pay it. $3.72 can buy you the book on Amazon...if you can't afford that, then are you really qualified to make this comment?

[DocWog]

@kristakubie Don't get fooled and be reasonable. Everyone knows that historically noblemen used low social classes to do work for them.Why,all of a sudden,wealthy people would share with peasants their strategies? There is a saying:"Wealthy will never understand poor"-nothing has changed over the centuries.Plus, why,after so many years of Kiyosaki's "teaching", the number of strugglers continue to rase over the years? Be real, we live in a pushy-survival shark world, and Kiyosaki is one of them.

[kristakubie]

@DocWog -Look, Doc, I'm fully informed. I know there's a growing gap between the rich and the poor, but we can't really blame Kiyosaki. He didn't invent the game, he's just playing it. He doesn't come from old/big money like the people who invented the game. He's a self-made rich man. Many people HAVE become wealthy from Kiyosaki's teaching. Check it out. Of course Kiyosaki is a "shark"--you have to be able to hold your own if you're going to play with the big boys. Hate the game? Revolt!

[DocWog]

@kristakubie

It is hilarious how people like yourself can NOT read and analyse text PROPERLY.

Not being surprised, you completely misunderstood the whole point of my previous general statement.

Re-read it again, and hopefully you will be able to see that no one was blamed.

My further friendly advise: use words in accordance to their definition, otherwise don't use them at all, as if you continue using wrong words, it will project your imbecile nature.

[kristakubie]

@DocWog -If you're going to accuse me of using "wrong words," you'll have to let me know what they are, please.

I read and analyse text pretty well, I think. To be honest, after reading, re-reading, and re-re-reading your original comment I still see several ideas smashed into sentences--no "main point."

Considering the primary goal of laying out text is to convey an idea with economy and clarity, I would have to say that if I'm not getting the point, you'll have to try and convey it again.

[DocWog]

@kristakubie I appreciate your latest response, however I cannot see the point in continuing this discussion. "Wrong words"...Well, it is clear I didn't "BLAME" anyone in my comment, also I wasn't talking about "games", you did. The point was pretty straight forward, that is people in general live in delusions evilly created for centuries by nobleman.

Not to worry, I'm a wealthy man, BUT...“NOT WHAT I HAVE, BUT WHAT I DO IS MY KINGDOM”. Remember, "the purpose of man is in action, not thought".

[kristakubie]

@DocWog - Finally, an insight into the motivation behind your comments, which for me definitely puts them in an enlightening context. Having initially understood your comments out of context, I agree how "blaming" and "games" were not part of what you were trying to say.

Consider, DocWog, that Noblemen are also human... who may very well be steeped in delusions that were evilly created for them by others.

I appreciate the discussion I have shared with you. Again, peace to you, and Aloha. :)

[DocWog]

@kristakubie You're truly one of a kind,madam,as you do NOT know how to read between the lines. "Nobleman people"?Sure,are you talking about those who made huge profits by being the financial backer of the wicked venture, known as the SLAVE TRADE.It is your Roman right to believe in whatever you wish,however you have to realised that your comments are absolutely preposterous, or haven't you?As far as I concern, we had no discussion.You're also wrongly believe that last word reserves correctness.

[DocWog]

@kristakubie

Why, all of a sudden, wealthy people would share with peasants like yourself their strategies? You have no reasonable thinking.

"Wealthy will never understand poor"-

nothing has changed over the centuries and NEVER WILL.

End of story.

Personal message to you: keep playing your silly game as more foolish people continue playing it, the rich will get richer. The choice is yours.

[kristakubie]

@DocWog - So if I became very rich like Kiyosaki (who went from went from "peasant" to rich) would I then be lumped in will all the "Wealthy [who] will never understand poor?"

Sounds like I don't have a choice at all, according to what you just said...no matter what I do, I am a peasant and I always will be.

Quite an enigmatic, disparaging, and useless personal message.

Sorry, but I don't understand why you feel the need to share.

Peace to you on your journey, DocWog.

[DocWog]

Demand and supply is an economic model of price determination in a market.

Silver and gold is a good long-term investment for those who can afford it, BUT it seems to me that continuous growth of the gold price is clearly due to artificial market manipulation intentionally created by rich and powerful. By escalating people's interest and their further desires, it is obvious why price is continue sky rocketing.

[tosh369]

@DocWog - C'mon, THINK about it. Take a look at when the price of gold took off. It did so when the USA bailed out companies and put all of that TARP money into the banks. They made cash out of thin air! Because of this, everything else that the world values (oil, gold, silver) went up in price because we devalued the dollar! This is supply and demand 101...

Take a good, close look at it and ignore what politicians tell you. Think for yourself and you'll survive.

[DocWog]

@tosh369 "C'mon,THINK about it" too.Take a look at 10 year historical charts, particular around 2008 period when the price of ALL precious metals(Me)significantly dropped due to the global financial crisis.Generally prices for certain precious Me are hugely volatile,so,as I stated earlier,this is not for everyone unless you're a professional,trader or chosen to accumulate Me for a long-term investment portfolio.Remember gold didn't go up between 1981-2005."Think for yourself and you'll survive."

[carlo25ification]

having a girlfriend is also a liability. Money is flowing from your pocket to your girlfriend hahahah.



[wwkit]

so this means having a girlfriend is a liability? #LOL

[080luc]

@wwkit a trip to a restaurant for a date is a unnecessary expense, therefore a doodad. A girlfriend is an expense. Once you are married, doodads go up. A girlfriend with no job is a liability. With inflation, you need to win the lottery to afford a girlfriend : )

[Jnoche]

@wwkit They are also a ASSset

[25qwaz]

impressive

[societytravels]

Mr. Kiyosaki, keeps his teachings so simple. God knows this man's knowledge needs to be on the world news. Wow.. what a video and lecture he just gave.

[LeongGlobal811]

MAN..property rental could a headache, depending on location and tenant. Great education tho. on Asset vs Liability. ROBERT KIYOSAKI, your AWESOME!

[WinALiteMarketing]

@LeongGlobal811 - I consider him a visionary, his advice is really needed. thats why im into network marketing with my recession proof product.

[robertplant634]

@LeongGlobal811 *you're

[emmanuel43]

Robert kyosaki and the person that put this video are a blessing to the planet

[truthsmiles]

"$15,000 every month" for his house. Wow, he must have a nice place.

[Zhongweipaul]

I listened to Robert Kiyosaki's advice on silver: "I believe this is the biggest investment anyone can make in the next 100yrs" I did my research and found an opportunity that has changed my life in 12 months. Take a look like i did.... Visit: goldsave.co/

[LovePerthMusic]

Thank you for posting all of these, I'm learning heaps ♥

[residentzombie]

If you really analyze it, rental properties are a liability when massive or hyper inflation hit. 4% of Weimar Germans income went to housing.

[GrandPatzer]

1000-1500 rental units??? I only have 10. We're getting schooled, people. He's so philanthropic to be passing on his knowledge.

[williamgen28]

Excuse me. I hope you don't mind me asking whether your ten units are completely out of mortgage or are you still paying mortgage for your ten units using the rent you collect each month. I have only one unit and is still paying mortgage using the $ flow each month. How long did u take to reach ten units??

[Pakman78]

it depends in the maths of your one unit, is it worth $1M and you own most of the asset? so you can borrow against it to get cheaper units where growth prospect is high...

[megadeathx]

@GrandPatzer What "school" is that exactly? Sounds like the lesson is volume that you have yet to master. Makes him no smarter nor better than you to have already proven himself in that lesson.

As for being a philanthropist, he has no need for your personality cult praise. He wants to teach people, so go teach somebody and tell them you learned it from him. That's the praise he desires.

[NoogLeader]

@GrandPatzer My question is how do you break into real estate when you are on fixed(or Not so fixed)income(6000 to 16000 a year)? I am trying to find good businesses to get into like Vending Machines or Franchises I can afford to get started. I am not interested in MLM because they don't work at all. If I could get a good business to stabilize my income I think I could begin getting into real estate. I heard of Tax Liens but I have yet to find how to buy them.

[UsherMoore]

@NoogLeader You can buy a house on eBay for $300... where there is a will, there is a way

[whyicare]

@UsherMoore

$300 home is that located in Beverly Hills, CA or is that in WATTS, Los Angeles.

[whyicare]

@UsherMoore

$300 home. Lets analyse this. The three main thing of pricing a real estate is location location location. If the property is dirt cheap, there is probably a problem. How much money do you have to spend to repair it. All of these associate with cost. Do you have a budget set up for this kind of investment

[UsherMoore]

@whyicare Just purchased a house for 5K, its not exactly $300 but its still very cheap, i managed to rent it after spending another 2K in renovations, so after 7K investment i now have $650 net income, that's an awesome return, the point is that everyone can buy, and the people who choose not to are just using excuses, the word Location, Location. Location is a joke and even DT said it a few times, location is important, but the deal is more; if you get good price and good rental, your good :)

[whyicare]

@UsherMoore

no kidding. The bank sold it for $5,000 and you only spent $2,000 to fix it up. The rent is $650 per month. I found it hard to believe that the bank is basically giving it away.

[UsherMoore]

@whyicare Ha!! Obviously you are not in the market and you are not a property investor, otherwise you would have known the basics, and i never said that Property managers work for free - you did; what i am saying is that real estate investing is like a business, like any other business it has its positives and negatives, and like every other business its got expenses, you can lose or you can win in it; but don't say its impossible to make it if you don't know what you are talking about...

[becauseicare2]

@NoogLeader You will continue to get nowhere with this mindset. Analysis paralysis.

[UsherMoore]

@GrandPatzer Believe me, most people would want 10, keep it going, and soon enough you'll get to 1,500... i started with one and now i have 12, a few more and i can be free to invest in bigger properties.

[ekada77]

This is just plain stupid. With the same reasoning having gold would be to have a liability. There is no revenue from gold, only the cost of storage. A house is an asset, the same way a kilo of gold is an asset.

[massd07]

@ekada77 Maybe you dont understand but the price of gold keeps rising its well above $1000 right now while in 2001 it was $250 an ounce if you dont call that a rise i dont know what you been smoking.

[ajd1211]

You're 100% wrong. Unlike gold, your house is continually taking money out of your pocket. True it may increase in value over time, but unlike gold, you have to make repairs on your house. Gold puts money in your pocket when you sell it, but it doesn't take money out of your pocket while you own it. Your home does.

[mikatan12]

@ajd1211 Im new to this financial talk, so I just want advise. my question is. Isnt a home a good investment cause you can rent it out and make money? People need to live in a place, gold cant offer that, right? so you will always be able to make money off people who cant afford an apartment or a home, by renting.

[AntPalm8]

@mikatan12 yea, your rental properties are assets, but your personal home is not being rented out because youre living there. thus, it takes money out of your pocket.

[Jeffb32]

true but most people don't rent out there houses a house is only asset when you are getting cash from renting it out.

[Pakman78]

Its all in the maths...I own a house that taking money out (negative gear), but soon it will become a money maker (positively geared)...re: 2:11 in this its all about cashflow!

[ajd1211]

Until you sell the house for a profit, it is still a liability. It still takes money OUT of your pocket. Even if you own it and it's paid for, you still have to pay taxes on it, you still have to pay upkeep. Even if your house is a rental, if you aren't making profit on your rental, it's a liability.

[UsherMoore]

@ajd1211 Where did you go to school? if my house is rented its a liability??? i am gueessing that you do not own any rental properties...

[ajd1211]

@UsherMoore So you're telling me that when a rental property takes money out of your pocket, it's still an asset? That makes absolutely no sense.

[UsherMoore]

@ajd1211 Where did i say this? you keep saying thing like that... i never said that a vacant property is an asset, when a rental property is rented to a tenant, it’s an asset because it puts money in your pocket, when its vacant, it’s a liability because it takes money away from your pocket; if you are a real estate investor, the property will be listed on your assets list in your financial statement...

[ajd1211]

@UsherMoore If your house is rented, and your rent isn't high enough to cover the costs of the property, and it's taking money out of your pocket, it is still a liability. If the rent puts a single dollar into your pocket after the costs are covered, it then becomes an asset. An asset is anything that puts money into your pocket. A liability is anything that takes money out of your pocket. That's what I'm trying to say.

[UsherMoore]

@ajd1211 Who said it isnt high enough to cover the cost? if you are an idiot who buy homes without researching and doing your homework then every property you'll buy will be a liability... if you are smart, and take the time to research the deal, then your deals will be profitable...i said it myself that if the property loses money its a liability, if it makes you money, its an asset... so why repeat it?

[ajd1211]

@UsherMoore We're yelling the same thing at each other, trying to make the same point.

[UsherMoore]

@ajd1211 Yes, the only difference is that i am right.. .:)

[ajd1211]

@UsherMoore How can you be right if we're both trying to say the same thing? I think you'd argue with God about the sky being blue on a sunny day.

[ajd1211]

@UsherMoore If I have a property that is rented and is still costing me money, it surely won't be in my asset column. When it stops costing me money, and starts putting money into my pocket, then it will move to my asset column.

[whyicare]

@Pakman78

He is talking about rental units. You live in one floor and rent out the other floor. Keep in mind though, dealing with tenants is not easy. Especially now a day, people are out of work, rents can not be paid. It takes time to evict your tenant. Also, people prefer to live in a privacy home.

[UsherMoore]

@whyicare That's why you have property managers, who need to deal with tenants?? and evictions are a part of the business, nothing in life is easy...

[whyicare]

@UsherMoore

You mean property managers work for free. 

[WJValente2]

rahularycam- Where did you get this material? Was this on TV or is this a informational DVD?

[lapizlazulai]

i love his idea and yes his book the cashflow quadrant is a mindset changer...

[aminhliner]

Didhe say he had 1500 units ?

[amritsharma]

yes he did... whoa!

[schneider219]

he had 1500 units w/c has tenants who puts money in his pockets, CASHFLOWS into his pocket ^^

[DocBrewster]

what does w/c mean?

[joeycusack80]

Great Video,thanks for posting

[ratzskinakie]

If a liability tried taking money from my pocket, i'd kick his ass!

[EasyPayEasyWay]

these are great videos. Keep posting rahulalryacam.

[may5870]

i like this video..thanks to Sir Robert Kiyosaki...