Buying Gold Coins; Budgeting for Investing

Ok time to get off your butt and step out of whatever comfort zone you thought you had. Its now or never. In previous posts we talked about why you should be buying gold coins.

Now we are going to discuss how to actually do it.

Buying Gold Coins

Step 1   Determine how much you can afford to invest.

Take  a look at your finances and see how much you can set aside for investing. A good rule of thumb
is the 70/30 rule. So break it down this way.

10% for saving

10% for giving

10% for investing

70% for everything else

Ouch! that sounds like a lot doesn’t it.

If you are like most people, you don’t have the 30%. But don’t give up yet. This is an ideal,not a hard and fast rule. The point to start setting aside an amount every month for saving, giving and investing. This is what we call paying yourself first.

This is not a new concept.

Most successful investors operate on similar ratios. I first discovered the concept in Robert Kiyosaki’s book “ The Cashflow Quadrant” Robert so believes in this concept that he instructed his accountant to deduct the 30% at the beginning of the month, regardless of what bills needed to be paid.

He would use that pressure of the looming bill to force him to find ways to earn the money. The accountant was very reluctant to do it, but Robert insisted. And they were always able to meet their obligations.

Let me be very clear on this. I’m not advocating not paying your bills, and neither does Robert. It is simply a matter of faith. You have to believe that you can meet your goals, and you must be willing to pay the
price to make it happen. That’s the key. By paying yourself first, you are taking action to create wealth.

Not everyone is at this level. I personally cannot do 30% yet. But I am setting aside a percentage of my income every month for buying gold coins.

In addition to the percentage that we are setting aside for investing,  we  are also taking a percentage out of any business income we have come in as well.

In conclusion, start taking action now. Set aside a fixed portion of your income for the 3 pay yourself  first catagories. Even if you don’t enough to buy gold coins yet, by setting aside this amount, you will be starting.

I cannot stress this enough.

If you want to make a change in your life, you have to do something different.

You cannot do the same thing in the same way and expect different results That’s insanity.

In the next post we will talk about finding a reputable dealer

Unfair Advantage Book

Unfair Advantage BookUnfair Advantage is another book that is immensely suggested by its critiques.

Robert Kiyosaki books never let you down and this book even takes you to the higher level.

This is also not a quick guide to becoming reach instantly, yet it teaches you to increase your earnings rapidly.

Most importantly it is you who should pay attention to his teachings.

This book isn’t a continuation of his previous work and it describes a lot regarding to financial literacy and training. Modern and fresh view of Rich Dad is presented with new perspective.

It also explains why rich people continue to earn in spite of financial distress. Nobody is in advantageous or disadvantageous position.

You should believe that you have an option and you are ready for any sorts of struggle. His explanation of education and its measurable result along with unfair advantage of financial knowledge is crucial for his readers to get accompanied with.

Robert Kiyosaki books are educational, ingenuous and precious. They are also making people aware about this teachings, but if you aren’t able to see the picture from different perspective, his books don’t lead to fruition.

His explanations aren’t a financial secret but the real and honest voice of someone who continuously practiced what he preached.

Thank you for reading my “Unfair Advantage” book review

The Business of the 21st Century Book

Portfolio of Robert Kiyosaki books got toughens with the addition of the book, ‘The Business of the 21st Century’ in 2010.

In this book, he followed objective procedure to analyze the perspective of network marketing.

Ideas are proposed and supported with valid reasons.

He spoke in favor of network marketing and its’ effectiveness in building asset portfolio that ultimately permits for financial freedom.

He explains that the previous thought of industrial age financial success has been outdated and now it’s Information age which rules the financial market.

With this explanation he moves to the second part of his book where he explains about the network marketing and its importance in present context.

The concept on new economy is created step by step with the help of strong foundation.

This book describes to the point topics and ideas. It describes what actually is necessary for a business to succeed in today’s economy.

Thank you for reading my “The Business of the 21st Century” Book review.

Read Next : “Unfair Advantage” book review

Rich Dad’s Guide to Investing Book

Next entry to Robert Kiyosaki books was Rich Dad’s Guide to Investing.It was the final version of his Rich Dad Poor Dad trilogy.

It was written for those people who planned to be successful in their career. By successful he meant financially free, i.e. rich person B and I quadrant was its’ core perspective.

This book was addressed to those people who are operating or planning to operate from B or I quadrant.

This book can be said as the first book that facilitates middle class people on the way of becoming a rich person. This book doesn’t follow the exact investment decision protocols. It also doesn’t give the exact answer to – Which mutual fund is better to invest on?

However, it foretells his rich fathers’ teaching of how to minimize risks and yet gain ultra-high returns. He teaches that money isn’t a necessary factor while making money.

He also explains how planning is more crucial while propelling ahead. He is not providing the list of quick money making tips.

You should plan and implement your ideas step by step and ultimately u will be navigated to success.

The most important aspect of this book is the concept of  Selling Investor. Kiyosaki recommends you to create such an investment that will push public to acquire the share even at premium.

Thank you for reading my “Rich Dad’s Guide to Investing” Book review.

Read Next : “The Business of the 21st Century” book review