Know What You're Doing
as appear in the Star 10 Feb 2009
edited by Wong Chong Sen 黄宗聖
Robert Kiyosaki, author of RICH DAD POOR DAD, has some tips for those seeking financial advice:A:
Look for investments that pay you monthly or quarterly, regardless of whether the markets are UP or DOWN, or whether the economy is EXPANDING or CONTRACTING.
The following "tidbits" of information to keep in mind as YOU consider your financial options:
Today's depressed real estate market is the best time to start buying GREEN HOUSES, even if credits is tight.
Putting money into a savings account and investing in a 401[K] is even riskier in this volatile economy.
Today, as the economy is contracting, CASH is king. Yet because the Federal Reserve is printing trillions of monopoly dollars in order to stop deflation, in a few years we could see a hyper-inflationary period.
Hyper-inflation will wipe out the value of a saver's holdings and eventually destroy most mutual funds as government begins to raise interest rates in an attempt to stem inflation.
In a hyper-inflationary period, GOLD and SILVER will be king.
Assets do not make YOU rich. Assets can make YOU poor if YOU are not careful. If YOU do not know what YOU are doing, no asset can make YOU rich.
Ultimately, What makes YOU rich is your financial intelligence. Therefore, your greatest asset is your brain. So take care of it and protect it from bad advice!