15: Kim Kiyosaki: Invest In Yourself And Get To Financial Freedom with Rich Woman

10/13/19 • 49 min

FWEP00015 Kim Kiyosaki: Invest In Yourself And Get To Financial Freedom with Rich Woman

In this episode we have a very special guest is none other than Kim Kiyosaki. She is an Internationally renowned speaker, best-selling author of “Rich Woman” and “Good Deal, Bad Deal”, Radio Show Host, Entrepreneur and Real Estate Investor. She is also the founder of the Rich Woman organisation. Kim realised early on in her career that she didn’t want to be an employee. In search of something more, she worked to develop her skills and made her first real estate purchase. She now controls millions of dollars of investment property and is committed to helping women achieve financial freedom through investing and taking control of their financial futures.

Rich woman book

Kim Kiyosaki wrote the book entitled “Rich Woman”. Here she shared the inspiration behind the birth of the book:

(3:45)The reason Genecia I wrote Rich Woman was because Robert and I, we travel the world teaching the Rich Dad philosophy taking two big groups and I will get up on stage and I will speak to the women for just a few minutes and at every event whether it's Singapore or we're London, Tokyo, Johannesburg wherever it was at the end of the event I’d always be surrounded by women and they had the same questions and the same issues and the biggest thing I realized is there's a huge huge huge demand for women to be educated about money and actually, we women, not only have we not been expected to know much about money but we’ve actually been taught to depend upon somebody else for our financial well-being.

Financial Literacy

Financial independence is not based on gender. It happens through education. This is Kim’s encouragement for women to be financially secured:

(4:52)So my whole message is we need to be in control of our finances we need to step-up and be financially literate and ideally it's up to each one of us to be financially secured

(5:07)Nobody’s gonna do that for us

(5:09)No financial advisor no financial planner it's up to us. And it's not rocket science anybody can do it but it takes time and it takes education
She added that to be financially stable requires a process:

(6:17)Actually starting to take control of your finances starts very simple. You start small and take baby steps we don’t go for the big deals we stick with the small deals. And the most important thing is that understand there’s no secret sauce, there’s no magic pill

(6:49)It’s a process and it’s a process of education, it’s a process of experience but it’s not difficult.

(06:58)it’s just a matter of committing

Risk taking in Business

You don’t have to have it all figured out to start a business. Oftentimes you don’t have anything but risk. Here’s how Kim started from nothing:

(7:41)I started with nothing and I’m gonna tell you that the best thing of all is that I didn’t have the money, Robert and I did not have the money.

(8:10)Probably for the first 10-12 real estate deals I did, I did not have the money now what that forces you to do is get very very very creative

For Kim, she chose real estate as an avenue to invest:

(8:22)Once you see the property or whatever investment it is you’re interested in. Once you see it , and touch it and feel it then put your mind to work on how can I now get the money, how can I create the money in order to get the investment.

(9:54)What you want to do is create positive cash flow. My investment of choice is real estate there’s many other ways to gather cash flow whatever works for you.

(10:05)But we had 10 thousand dollars a month cash flow from our rental properties. But we only had 3 thousand dollars a month in living expenses. So at that point $10,000 coming in and $3,000 going out we were financially free.

Achieving financial freedom

Financial freedom may seem difficult at first but it is not impossible. As Kim ventured into Real Estate this is what they experienced:

(10:39)Number 1 I did not have to worry about money anymore and number 2 it gave me the luxury to ask myself what I really want to do with my life. So it’s all about financial freedom.

(10:50)It’s about freedom, not so much about the money but freedom is that having choices to live the life you want to live. That’s what it’s about.

Filling up the gap in your cash flow

There’s no one way to fill the gap, but the key is education and being fearless. Here is Kim’s encouragement:

(11:57)I made a ton of mistakes, a ton. I mean that’s the key to success, I’m gonna tell you right now, that the key to success is making mistakes everybody is still afraid of making a mistake, the only way we learn is by making a mistake.

(12:24)The key is you gotta got into...

FWEP00015 Kim Kiyosaki: Invest In Yourself And Get To Financial Freedom with Rich Woman

Rich woman book

Kim Kiyosaki wrote the book entitled “Rich Woman”. Here she shared the inspiration behind the birth of the book:

Financial Literacy

Financial independence is not based on gender. It happens through education. This is Kim’s encouragement for women to be financially secured:

(4:52)So my whole message is we need to be in control of our finances we need to step-up and be financially literate and ideally it's up to each one of us to be financially secured

(5:07)Nobody’s gonna do that for us

(6:49)It’s a process and it’s a process of education, it’s a process of experience but it’s not difficult.

(06:58)it’s just a matter of committing

Risk taking in Business

You don’t have to have it all figured out to start a business. Oftentimes you don’t have anything but risk. Here’s how Kim started from nothing:

(7:41)I started with nothing and I’m gonna tell you that the best thing of all is that I didn’t have the money, Robert and I did not have the money.

(8:10)Probably for the first 10-12 real estate deals I did, I did not have the money now what that forces you to do is get very very very creative

For Kim, she chose real estate as an avenue to invest:

(9:54)What you want to do is create positive cash flow. My investment of choice is real estate there’s many other ways to gather cash flow whatever works for you.

Achieving financial freedom

Financial freedom may seem difficult at first but it is not impossible. As Kim ventured into Real Estate this is what they experienced:

(10:39)Number 1 I did not have to worry about money anymore and number 2 it gave me the luxury to ask myself what I really want to do with my life. So it’s all about financial freedom.

(10:50)It’s about freedom, not so much about the money but freedom is that having choices to live the life you want to live. That’s what it’s about.

Filling up the gap in your cash flow

There’s no one way to fill the gap, but the key is education and being fearless. Here is Kim’s encouragement:

(12:24)The key is you gotta got into...

Previous Episode

14: Dr. Yong Hsin Ning, Founder of Change Voyage - You Didn't Make All Those Sacrifices and Changes To Just Stay The Same.

FWEP00014 Dr. Yong Hsin Ning, Founder of Change Voyage - You Didn't Make All Those Sacrifices and Changes To Just Stay The Same.

In this episode, we have a very special guest. She has worked with clients from across both the public and private sectors in the defense, industrial relations, consumer goods, telecommunications, and airline industries. She’s currently the co-founder and director of Change Voyage Consulting, a multi-consulting firm that provides tailored solutions in the areas of organizational and individual change.

She is also an adjunct faculty at the Lee Kong Chian School of Business in the Singapore Management University (SMU). She has obtained a Ph.D. from SMU. Her dissertation topic centers around her part-time employees managed non-work time to reduce the tendency to work overtime.

The Glue

Dr. Yong, is known as a “glue”, when asked to elaborate on this, this is what she said:

(3:19 - 48) I realized that using the glue analogy, is something that resonates with people. So imagine your organization is going through a change. Maybe a new system, new performance appraisal system, merger acquisition, etc. But at first, people are all thinking about the change in different ways to see the management, and uses, even the people who come in to do the project. They are all in a space of themselves.

(3:49 - 04:02) So what our company does? Is that we go in and we try to glue them all together, for what? So that they can move towards the goal in a concentrated manner that they can move together.

(04:03 - 4:20 ) But I also don’t want to be the glue for too long. What I want to do is that I hope that one day they will be able to produce their own glue, and they will then glue themselves together to move towards the goal that they want to do. So essentially, that’s what I do for a living.

Time Management Strategies

Dr. Yong shared strategies in order to optimize things.

(05:00-29) So one thing at a time, firstly. Secondly, telling myself it’s possible. So a lot of times we are constrained by our paradigm and constrained by what other people tell us that we can or we cannot do. So if we want to just dissect and peel the onion and think about critically how do I fit things in, how do I reorganize my time to make things possible it can be done.

(5:39-6:01) The first strategy is better optimization of my time. So for me a lot of times I spend working either very early in the morning where there is no disruption and before I go to work and also doing times where I’m waiting for my kids to come off from their enrichment class.

(06:08-32) The second strategy is to leverage other people to collaborate with you to be able to juggle. So for example when I did my dissertation I had to be away from the office for a long period of time. Sometimes for a whole week from Monday to Saturday and I had to work closely with my clients and my team members to be able to continue the work even though I was not around.

Passion makes things possible

Being passionate will lead us to do the impossible and get the expected results not only for ourselves but for the people we are influencing and working with, Dr. Yong shared:

(07:16-8:09) my passion is in creating knowledge as well as delivering knowledge to people. The part that keeps me going is to understand how do I make something so simple that it is very, very easy for the students to consume. So the topic that I teach is around business model design and for students who haven’t been outside into the real world and they need to deal with the real clients is really tall order. So it’s almost like describing a color that you have not seen before. How do I simplify the complex to make something that seems so insurmountable to be something that is really within the comfort zone of students is a challenge that I post to myself and that’s what makes me tick.

Life-changing decision

Not all the decisions we make in life are easy. It will require courage and the ability to see the bigger picture.

(08:46)So I was about 40 years old when I hit a roadblock in my career so at the point in time it was endless juggling with work and with my family, my two children who were very young then. I remembered every time during the journey out to work I would always have this voice in my head, “I wish I could quit”, and very quickly there was another voice that came up in response to that voice which says “why not?”

(09:23)So the list was very long in the beginning but as a very structured person, I tried to cross out the list one by one to clear the hurdles off, to justify and clear the hurdles in terms of why I should or should not quit. After a while, I realized that I was holding myself hostage. Fear was holding me hostage because I was concerned about a loss of financial comfort I w...

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undefined - 16: Secrets of success: From street kid to CEO of a publicly-listed company With Dr. Patrick Liew, Managing Partner of Global Enterprise Exchange and Founder of Success Resources

16: Secrets of success: From street kid to CEO of a publicly-listed company With Dr. Patrick Liew, Managing Partner of Global Enterprise Exchange and Founder of Success Resources

FWEP00016 Secrets of success From street kid to CEO of a publicly-listed company With Dr. Patrick Liew, Managing Partner of Global Enterprise Exchange and Founder of Success Resources

In this episode, we have a very special guest. He is the founder and CEO of two different companies and listed them on ASX and SGX. He was previously the regional CEO of a strategic advisory firm and was involved in listing the firm in the NYSE.

He is also actively involved with civic and philanthropic circles.

Dare to dream

Every single day we are encouraged to really live out our dreams. We should focus on what we really love and what can help us grow.

(3:48) I was a street kid

(3:54) ...at 15 years old I became a Christian and that’s the reason I wanted to be a social worker

(4:09)And later on, I discover that as an entrepreneur I can be even better than a social worker. As an entrepreneur, you know the dream is to build up a company that’s what everybody thinks as a social worker you want to make a positive difference in people’s lives. As an entrepreneur, you know if through my business I can provide jobs for my people. Through running a very good business selling good products and services I can help people live a better life.

Boldly moving towards success

Before achieving success there’s a lot of roadblocks that might hinder us. So, how do we face all those roadblocks in life? Dr. Patrick fights his roadblocks in a very unique way.

(4:37)When I started Success Resources we had a dream of changing the world through education. And I am very proud to say that today we are arguably the largest seminar organizing company in the world.

(4:55)First of all you must ask yourself what do you love to do, this is what I call passion. Secondly, ask yourself what can you do very well, this is what I call performance.

(5:07) Thirdly, Ask yourself what is important for you to do at this point in your life, which is a priority. Finally, and most important all you need to ask yourself what is your purpose.

Defining Charisma
Dr. Patrick believes there are 3 stages to be charismatic. He summarized the stages saying:(5:46) 1st stage is they must like me
(5:56) They must trust me, so that’s the second stage.
(5:59) And then finally, I must come to a point where they respect me

(6:04) Charisma has to do with likeability, trustworthiness and respect.

Aim for excellence

The best way to get better results is to strive for excellence at all times.
(6:15) E stands for Excellence so if I’m gonna be charismatic if I want to be charismatic, whatever I do I must aim to achieve excellence. Be the best that you can.

(6:27) Finally, to be charismatic we must be able to fulfill our mission in life.

The synergy of the Four Cs
What are these? Here’s what Dr. Patrick shared about the Four Cs.

(6:40) First C is what I called commitment you must have commitment. If you don’t have commitment nothing will work.

The second thing that you need to have is, you need to have charisma. You’re not born with it you need to develop it you need to apply it in your life.

(6:52) The third C has to do with competence, competence has to do with knowledge. And you need the A you need to have the right attitude. You need S, you need skils, you need to be able to make things happen and finally, you need H, H stands for habits (7:05) And the last C is compassion.

Great Advice

Wherever we go we always seek a piece of advice from someone who can help us enlighten our minds. Dr, Patrick teaches us the following P’s to remember:

(7:18) First P is you must know your purpose in life. If you don’t know your purpose how can you can you make a difference? The second P is Personality what is true about you? What is real about you? What do you live for? What do you believe in? What do you stand for? What are you inspired to do? You must live it with your life, put it in action. Without action, you can never have results.

(7:35) The next P is Planning if you fail to plan you plan to fail.

Key takeaways:

Don’t just dream, pursue it.
Do not allow your past to affect your future.
Know your life’s purpose.
Action will make a difference.
Prioritize your priorities.

Key Resources:
Subscribe to Genecia’s Youtube channel: https://www.youtube.com/c/SoulRichWoman
Visit SRW’s website: https://www.soulrichwoman.com
Follow Genecia on Instagram : (@Geneciaalluora)
Follow Genecia on Facebook: https://www.facebook.com/g...