Thursday, February 19, 2015

Robert Kiyosaki On His New Book: Second Chance

Hey everybody.  I found this article and video on Robert Kiyosaki last night while post surfing on Facebook.  It got me thinking.  Here's the take home for me: My aggressive investing, indebtedness, and employment of all available cash to work on buying assets, is absolutely dead on!  What if I told you that I owed over $700K combined on four different mortgages?  Would you be like…oh snap, this guy is going to be slaving around until he dies.  What if I told you that I have $0 in emergency savings?  Would you be like…Carlos, what are you doing?  Think of your children.  What if I told you that I had all of my entire Wells Fargo Roth IRA (retirement) money, upwards of $27K, in a single stock? Would you be like…You're nuts!  Diversify!

I think I have been honest with everyone since I started this blog.  I have, I admit, recommended certain middle class principles, budgeting and savings, for example.  But I have also shared what I'm doing with you that is not "middle-class." And in fact, I have cautioned you about it.  See this post for an example: Big-bet-on-ford-ford-stock.  This was back in June of 2014.  Now I love some of my blogging peers.  The budget lovers, and the savings champions.  But I'm not like them.  I don't save.  I just don't do it.  I keep a budget, but only insofar as it helps me squeeze out more cash to put to work immediately.  I also believe in using leverage to get the next deal funded.  My next investing activity involves trying to refinance one of my rentals, at a lower or equal interest rate, and take the equity as a cash payment.  Then I'll buy another property with it.  Wish me luck.

For now, I'd like to send you to this great interview of Robert Kiyosaki, and video of him too!  I want you to arrest your judgement and give it a good listen.  Until next time!  Take care.

Link: Epic Realestate

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