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Evelyne
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4/19/2012 9:04:16 PM
RE:What should i do with my $6,000?
To Michael, Robert Kiyosaki said to buy Silver because it's the best hedge against inflation, because cash is trash, becuase it's devaluing over time.
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DanielJ
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5/29/2012 12:28:56 PM
RE:What should i do with my $6,000?
Well Robert also wrote that nothing is a good investment when you are not a good investor.
Precious metals are in fact a hedge against inflation, but in the form of coins, are subject to VAT, are not liquid, and well don't generate too good returns.
Gold and slver IS a part of my "secure" financial plan, and is very impoortant, but I'd stick with Good Delivery metal in a vault through a bank offering a physical gold scheme, or an ownership community like Bullionvault. And I would never put all my savings into gold, as I'm not planning to be poor when I retire, and my aggressive plans need funds too.
I'd say in your place I'd take part of that $6000 and go to some seminars on entrepreneurship, investing and personal growth / leadership, take another part and use in whatever formula I learned from the seminars, and only put the "rainy day fund" portion of it in gold or silver.
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luis
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10/15/2012 3:59:13 PM
RE:What should i do with my $6,000?
good point, silver preserves purchasing power
it doesn't increase your earning ability
kiosaki has mentioned he has made millions from $400 course
a million dollars in 3 months from taking a company public
and infinite returns using financial iq
invest in a course, an ability or a mentor as someone suggested here
or network marketing
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Valued member
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julius
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4/23/2012 2:01:13 AM
RE:What should i do with my $6,000?
According to Robert you should acquire assests which in turn generates passive income. check this out and you will see how much income you can possibly generate with $6,000 www.bigdreamsin808.com Theres a good feeling when you know that your money is doing the work for you :)
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Advanced member
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Evelyne
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4/25/2012 8:22:18 PM
RE:What should i do with my $6,000?
Thanks for the bigdream website; it was good! .
Anyway, I've almost finished reading ' Rising time ' and I'm gonna read Robert's ' Midus touch ' book next, now that I've purchased it.
And i will continue to find something to buy to rent out. no sure what it's gonna be yet, but I'll let you know.
-Evelyne.
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luis
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10/15/2012 5:31:13 PM
RE:What should i do with my $6,000?
midas touch is excellent, robert gives new stories from his life, new ideas
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Advanced member
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Evelyne
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5/26/2012 8:03:43 PM
RE:What should i do with my $6,000?
Hey everyone! Thanks for posting your answers, been most helpful! :)
Anyway, just wanted to let you all know that I've finished the 2nd module of the Stockmarket course and that I'm about to start on module 3.
And also wanted to let you all know that I'm half way on reading Robert Kiyosaki's book " Midus Touch ".
Well I must go now and I hope to hear from you all again real soon.
-Evelyne.
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Advanced member
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Team Honeywell
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5/30/2012 8:47:57 AM
RE:What should i do with my $6,000?
Hi Evelyne
Great to hear how your financial journey is going.
Keep up the financial education. Play 101, its great for getting you used to the various emotions that will be coming your way regarding deals in whatever investments you look at.
Look forward to hearing more from you.
Wishing you even more health, wealth & wisdom!
Diane
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Advanced member
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Evelyne
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6/1/2012 6:32:51 PM
RE:What should i do with my $6,000?
Hi Diane, Thanks for writing back!
I'll play the cashflow 101 game when I can. I just wanted to let you know I purchased another silver coin and 1 bar of silver from a coin dealer shop in the city yesterday . I've added them to the rest of my coin and bar collection and l look forward to buying more in two months time.
Also, while I was in the city, I purchased two books on personal finance which will help me to increase my wealth. The books I got were " The millionare next door " and Robert Kiyosaki's book " The unfair advantage ".
-Evelyne.
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Valued member
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James
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6/3/2012 3:11:08 AM
RE:What should i do with my $6,000?
Evelyne,
This recommendation might go against what others have told you, but it comes with lots of experience.
In your journey to wealth, one of the things you will find out is that to become wealthy, you need to think differently. $6000 is a limited amount of money. So is $10,000, and $20,000, etc. I don't mean to insult you, I am trying to open your eyes to something powerful here.
So here is how the wealthy think:
Use OPM to make money (OPM is an unlimited resource). If they need money, say an additional $10,000 per month, they go out and buy a building/business/asset with OPM to generate that $10,000 per month. They NEVER think about how much money they have. They think in terms of cash flow.
So what is the answer to your question? Easy. Keep your $6000 in your bank. You mentioned you are unemployed. Buying silver is a LONG term strategy, a hedge, and a CAPITAL GAINS strategy. Think of your $6000 as "security of mind" until you find another job. Think of it as your emergency fund.
Also, your portfolio has no cashflow. You need that. So start considering adding income-producing assets.
Hope that helps.
If you need more info, let me know.
To your success.
James
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