Investor Lesson 1 ~ The Choice – Do you want to be secure, comfortable or rich? Most people would agree that being rich will usually mean they will be secure and comfortable the problem is most people go for security first, then comfort and last on the list is being rich. Kiyosaki says if you really want to be rich think about it carefully because it may require you forego security and comfort for a while.

Investor Lesson 2 ~ What Kind of World Do You See? – How do you feel about money, your deep down intimate feelings? Is it hard to get? Do you feel there is never enough? or Do you believe you will always have enough money? There are two types of money problems according to Kiyosaki, not having enough or having too much. What problem do you want? What is your money reality? Whatever you see in your life, too much or not enough, this is what you believe inside. If your current situation is a lack of money are you willing to believe that a world where you have too much money is equally possible?

Investor Lesson 3 ~ Investing is Confusing – Robert learnt from his Rich Dad that investing is confusing because there are so many different ways and types of investing no one could possibly learn everything about investing. Don’t despair though there is a way out of the confusion as explained by Rich Dad in lesson four.

Investor Lesson 4 ~ Investing is a Plan, Not a Product or Procedure – If you want to invest successfully then you have to understand this lesson according to Kiyosaki. What you have to understand is that investing is what you do to get from where you are now financially to where you want to be sometime in the future. You may use stocks, real estate, business or a combination of these to get where you want to go, they are the vechicles. Use them without any emotional attachment to fulfill your investment plan.

Have a Happy Day

Teresa and the Team at

AustraliaWealth.com.au

So let’s revise what is important to remember if you want to create wealth in your life.

• Educate Yourself - It’s important to develop your knowledge on investment strategies as well as your own personal development. Nurturing the right mindset is critical if you want to be successful in an endeavour.
• Listen and Ask – Listen to successful investors, ask questions, hearing their stories and advice will help you gain confidence and knowledge to take action.
• Be Specific – You have to be specific about what you want it isn’t enough to just say you want to be rich, ask yourself what you really want your life to be like, write it down and read it everyday. Then break it down into achievable steps and a time frame.
• Review Regularly – Go over your plan, what you want and how you want to get it may change as you grow and expand in knowledge and experience, adjust accordingly. Doing this also helps maintain your focus and to build upon your successes.
• Be In Control – Know your money, where it is and what it’s doing. Understand what you are investing in and what costs, fees and charges are involved. If there’s something you don’t understand find out or don’t get involved.

There are a lot of people, making a lot of money in a lot of different ways there’s no reason you can’t be one of them.

Have an Abundant Day

Teresa and the Team at

AustraliaWealth.com.au

I bet you’re saying that you already know this, that’s great but are you following through?        Do you have your goals up on the wall where you can see them several timnes a day? Do you get excited when you read them? How much energy you put in here will have a direct correlation with your results and achievements. Don’t skimp on this very important first point.

2. Take One Step at a Time

Trying to do it all at once can be your worst enemy, nothing really gets done as it should. If you find that you have to carry out a lot of the roles yourself at first then at least be well organised. Keep a planner and prioritise your day and complete one task at a time to the best of your ability.

3. Teach What You Know

Be prepared to pass on your work, delegate. Don’t keep all the work to yourself part of your roll when becoming successful is passing on your knowledge. Once you have mastered a skill consider whether it will be more beneficial to teach someone else to complete the necessary task so you can leverage your time. If you are tied up with every aspect of your business or endeavour how will you have any time left to grow and develop.

4. Do Something Everyday

If you have written out your goals it is a good idea to factor into your schedule at least thirty minutes each day to do something towards achieving them. It may be a phone call, an exercise or study, whatever it is include it in your daily schedule and you will move that little bit closer everyday.

5. Keep Learning

If you are wanting to create wealth you have to be prepared to keep learning, taking responsibility for the financial knowledge you need is up to you.

6. Believe in Yourself

It can be hard to stay on track sometimes, well meaning fanily and friends may be telling you it can’t be done. But you know with belief , desire and commitment amazing things have been achieved. It’s your life, you owe it to yourself and the world to live it to the best of your ability.

Have an Inspiring day

Teresa and the Team at

AustraliaWealth.com.au

daring adventure or nothing.”

Helen Keller

1. Have no established goals

If you don’t have any goals then it is unlikely you will achieve very much but I’m guessing, as  you’re here reading this, you are interested in achieving financial success and you will have already written down some goals.

2, Choose investments for emotional reasons

Listening to the media, inexperienced friends or family rather then researching and getting the facts of an investment is a sure trip to investment disaster. Educate yourself, talk to professionals and experienced investors.

3. Waiting for the right time

There will always be reasons not to get started the main one is usually fear. Anytime is a good time if you have knowledge, knowledge gives you power. The power to make decisions and act on them. So search out the knowledge you need to make wise decisions so you can thrive through your life.

4. Get rich quick schemes

One of the most important things I have learnt about creating wealth – is it is not a get rich quick scheme. True wealth creation takes time, the sooner you learn that and the sooner you get started the wealthier you can be. It’s never too soon, if you are a parent you can prepare your kids for wealth. My eleven year old daughter halves whatever money she gets – half goes into her money box for banking the other half she will put in her purse for spending. She is saving for a car.

5. Lack of diversification

A basic rule is never put all your money into one investment and never invest all your capital at the same time. Markets fluctuate at different times you decrease your risk and increase your chance for gains if you are involved in more than one market or strategy.

6. Failure to allow for fees and taxes

It is easy to focus on your potential gains and forget to factor in the costs, it can be an expensive oversight. It is also obvious you can’t invest without paying fees of some sort and you can’t make a profit without paying tax. So just be aware, learn to build a balanced investment structure, learn about tax minimisation schemes and don’t spend what you have to pay the government.

7. Not taking personal responsibility

You may get professional advice and assistance but that doesn’t mean you shouldn’t know exactly what’s going on with your money. This is why education is important when investing, you don’t have to know everything but you must have final control of what you money is doing.

Have a Wonderful Day

Teresa and the Team at

AustraliaWealth.com.au

]]> http://australiawealth.com.au/blog/wealth-creation/common-mistakes-of-new-investors/feed/ 0 http://australiawealth.com.au/blog/wealth-creation/keys-to-success-the-kiyosaki-way/ http://australiawealth.com.au/blog/wealth-creation/keys-to-success-the-kiyosaki-way/#comments Sun, 10 Jan 2010 08:06:06 +0000 Teresa Vidal http://australiawealth.com.au/blog/?p=432 I’m sure you have heard of Robert Kiyosaki and his wealth creation books The Rich Dad, Poor Dad Series, as well as others.I have gathered together a few of Kiyosaki’s key points and wealth creation strategies.One of the key things to realise is that he doesn’t rely on any one strategy but uses a combination of business, tax benefits, structure, loans and property.

So we, you and me are in the business of wealth creation I wonder how many of us have nutted out all those areas and considered them as working interactively together. Anyway on with the task at hand – Robert Kiyosakis Wealth Creation Key Points :-

Become Financially Educated - There are five strategies that Kiyosaki recommends here-

1. Never say ‘I can’t afford it’ instead ask yourself ‘How can I afford it?’ or ‘How    can I do this?’ Another thing people often say is ‘I know’, it’s another statement that should be avoided because it closes your mind to other possibilities.
2. Read, open your mind to learning. Get your hands on books that teach positive mindset and investing.
3. Find a mentor, someone who has done what you want to achieve. Then be willing to learn. Lot’s of people have a need to already know if you want to move forward with your life you have to be willing to learn.
4. Associate with positive people who are also moving forward with their lives. You will know by what they talk about, are they positive or are they always complaining. Who you spend time with has a lot to do with where you are in life. Wealth creation seminars are a great place to meet people willing to grow and progress.
5. Keep on learning you will never know it all. Be grateful for what you have family, friends and a wealthy country to live in. Stay humble, we are all at differing stages of development where you are doesn’t put you above or below anyone else, believe in you.

Robert says you have to be willing to invest in your education and be responsible for learning what you need to know, if not there’s little chance you will be successful.

Be Honest and Have Integrity - Always do what you say you will and always do it with honesty. There’s no use trying to get wealthy by being dishonest. We’ve seen many crash and burn from what appeared to be successful positions. Always work towards aligning you intentions with your actions.

Alchemy - This is Robert’s way of saying become a financial wizard. By that he means the more financial knowledge you have the more you will be able to make money and create opportunities with less capital. You will recognise opportunities, find investors and put deals together using less and less of your own finances yet recieve great returns.

Lifestyle - You don’t need to be extravagant. Have a nice house, drive a nice car, be good to your family but you don’t need to own everything. If you want to go out in a boat rent one buying too many toys is a liability.

Philanthrophy - When you are wealthy consider donating money to worthwhile charities, Robert and his wife donate to Greenpeace and the World Wildlife Foundation. Donating or setting up a charity or scholarship means you will go on giving long after your gone and your time on this earth will have far reaching benefits.

Robert Kiyosaki far exceeded his business goals, you don’t know where you will go on your wealth creation journey but following Robert’s steps above will mske sure you go somewhere wonderful.
Have an Inspiring Day

Teresa and the Team at

AustraliaWealth.com.au

1. Have a Written Plan
People who have taken the time to think about what they want to achieve in life, how they want to earn their income, what kind of relationships they want and write it all down usually find they get more of the things they want than those that don’t.

2. Do It Now
There is no better time then now. No one knows what’s in store for them tomorrow, next week or next year. Make a daily to do list that covers each area of your life it will help to make procrastination a thing of the past. Getting your life, your finances in order is necessary even if your just starting out, in fact there isn’t a better time, it’s never too soon. It’s also never too late, NOW, is the key.

3. Get the Right Information
If you are investing you would be wise to study textbooks, training programs or
seek advice from trained consultants and not listen to what you read or hear in the media. The media still draws strongly on entertaining their audience, do not rely on news for financial advice. Any kind of investment requires knowledge so learn as much as you can, do you own research and don’t rely on any one source.

4. Realise there are No Shortcuts
Many people do make investment decisions based on a ‘hot tip’, thinking they are going to get rich quick. There are no shortcuts, research and study is required, get sound financial advice. Great wealth can be accumulated over time even on the smallest incomes, that’s why the best time to get started is now.

5. Stick to Your Plan
It is easy to get into trouble when you start feeling you know what you’re doing. It
generally means you start taking unnecessary risks, wander off your plan and then get
burned. You made a plan follow it until you can afford to lose what you are investing.

6. Failing to Take Small Steps That Can Make a Big Difference
Any goal you set needs a little attention everyday whether it’s personal or financial.
Go over your goals daily, are you on track, do something everyday to keep you
moving in the right direction.

7. Letting Emotions Drive Your Decisions
Fear and greed are the big emotions that drive the markets. There will always be something to fear, the thing is what some people fear others welcome. Greed can also
cause you to make decisions that take little regard for your plan and what you know.

Anything you want to be good at and achieve success in requires a plan, training and education, goal setting and regular attention. If you take the steps involved in achieving financial success seriously you will get there, if it’s possible for one it’s possible for all.

Have a Day of Feeling Grateful

Teresa and the Team at

AustraliaWealth.com.au

School is great, isn’t it? Maybe the best time of our lives. You often meet friends that last you a lifetime; you learn how to read and write and how to get… dare I say it…a JOB.

Then everything will be okay, right?…At least that’s what you were taught at school. But now that you’ve been working a while you may have come to realise that your job might not deliver.

We now know school isn’t very helpful when it comes to creating wealth or managing the money you earn. And we also know that even high paying jobs don’t necessarily mean you will be okay, often the more you earn the more you spend.

How come when you were at school you didn’t learn about credit cards, mortgages or the dreaded ‘D’ word, debt?

So what can you do about it?

Well there’s no point whining about what you didn’t learn at school, just do something about it instead. Wealth education is alive and kicking and it is up to you to learn and educate yourself if you want to create wealth.  You may have left school but don’t give up on learning just yet.

We have to do something different if we are to have a lifestyle and not just a life. You have to decide what it is you want from all the key areas of your life. Once you have done that obviously the next step is to work out how you are going to achieve it.

What Should I have learned?

What you didn’t learn at school but wish you had may include investing in property and share markets or maybe you like the idea of having your own business. You can find ways to learn what you need to know there is wealth to be made in Australia you just need to understand how, prepare well and educate yourself. Find people who have succeeded in all these areas and follow their lead. All it takes is a decision and some effort from you. You can create a financial safety net with the right information, you can ride the highs and lows of the economy without losing your home or your lifestyle and who knows you may even create the life you’ve always dreamed of.

You don’t have to  become materialistic, it’s mnot about that, this is about living the life you’d love to live. It’s about having time and money to be the person you know you can be – loving, generous, and healthy. I know being rich isn’t an answer to everything and the best things in life may be free but at some point we all need money. All I’m suggesting is that you learn how to make more of it a little easier.

Power Thought

I am creating an abundant life.

Repeat this daily

Enjoy today

Teresa and the Team at

AustraliaWealth.com.au

Photo

federico stevanin:http://www.freedigitalphotos.net/images/view_photog.php?photogid=149