Real Estate Investor Magazine South Africa Real Estate Investor Magazine - July 2017

TOP REAL ESTATE TIPS FROM KIYOSAKI 1 2 - - - - 3 4 - - - 5 6 7 Don’t save, invest it Learn and understand the 4 major advantages of real estate Income advantages Tax break advantages Capital gain advantages Depreciation advantages Find the right broker or agent Find the right area Follow growing population trends Buy at the bottom of the market Buy in area close to you Find the right deal Use your options (to buy or not buy or for finance) Know how to use debt wisely Acquiring Financial Intelligence ROBERT KIYOSAKI grow wealth, you must come to terms with the fact that problems will never go away. Identify the problems preventing you from wealth, tackle them head-on, and the money will follow. According to Kiyosaki, the key to making money is learning to solve problems. In order to grow wealthy, you must come to terms with the fact that problems will never go away. Identify the problems preventing you from wealth, tackle them head-on, and the money will follow. #2 Financial IQ - Protecting your money Protecting your money and assets, especially from taxes and other predators. Once you earn your money, you then need to learn as to how you hold onto it One of his more popular top-selling books and audio programmes he authored in the ‘Rich Dad’ series is called “Increase Your Financial IQ” which has sage advice for people in any stage of their financial situation. We quote some key pointers, which you can use to improve your financial IQ in tough times. He says, “It is not real estate, stocks, mutual funds, businesses, or money that make a person rich. It is information, knowledge, wisdom, and know-how, also known as financial intelligence, that makes one wealthy.” Buying a new set of golf clubs won’t improve your game, but paying for lessons will. Kiyosaki says there are seven predators with a ‘B’ to beware: KIYOSAKI’S FIVE “FINANCIAL IQS Fees from stockbrokers and salespeople on investments can chip away at your wealth. Brokers, who “churn” accounts, buy and sell stocks that frequently get you to transact regularly in order to generate more commissions. #1 Financial IQ - Making more money Making more money is measured by how much money you earn. If you make $100,000 a year, you have a higher Financial IQ than someone earning $30,000 a year. Kiyosaki says, many people fail to acquire wealth, because they want the money without the work. What many people do not realize, is that it’s the process that makes them rich, not the money. You learn to make money that you continue to make money. For each person, the process is different. We each have different goals, dreams, and ambitions. The important thing is to find the best way for you to make more money, and then to build your goals around this. In order to make money, you must also learn to control your emotions. You must learn to defer gratification. Don’t sacrifice your financial future for a few bucks today. Don’t give up. The going can seem tough at times, but if you’re confident on your journey, you can learn to solve the problems. Keep your eyes on your goal and find a way to reach it. According to Kiyosaki, the key to making money is learning to solve problems. In order to www.reimag.co.za i. Bureaucrats Acknowledge the need to pay taxes, but it is your job to protect and structure yourself legally to pay as little as possible. ii. Bankers Banks are constantly trying to siphon bits of your money in the form of fees in various guises. It’s important to monitor and protect yourself from this. iii. Brokers iv. Businesses Businesses all have something to sell and their job is to separate you from your money and your job is is to keep it. You must question yourself if a particular purchase will make you richer or poorer. v. Brides and beaus Money plays a key role in any marriage or relationship. You must trust your partner; reach an understanding and agreement about your finances and investments upfront. vi. Brothers-in-law You need to protect your estate from family members you don’t intend to share it with, you need to plan for your death to avoid this situation. vii. Barristers It is important to structure and protect yourself from legal difficulties especially in the event of things going wrong. JULY 2017 SA Real Estate Investor 11

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