Hi all,
Ive read quite a few books but seem to be getting abit confused.On one of robert kiyosaki’s audio tapes and in his books he talks about playing the game around your plan.but in steves book he talks about being focused.Im confused!I would like to get into the share market and some amusment machines for cash flow but I have only just got started on IP’s.(own our home and have bought 2 IP’s)should I be focused on property or keep my options open?I live in adelaide so wraps r out but Im looking into lease options.what do u all think?
phil[?]There is a solution to every problem you just have to find it!
Hi Philip, welcome to the forum
My first question for you – have you got a plan?
You sound like you’ve got lots of different ideas that are running round in your head. I would pick one at a time, and get something happening, and then slowly move into the others.
If the amusement machines will give you cashflow, maybe go for it – that’s what this game is all about – I don’t want properties – I want money, properties are a by product (but i do like them).
Cheers
MelHi Philip
First you must be pretty clever with a name like that
] I agree with Mel, make sure you know what you want to achieve, not in investments but in life, where you want you and your family to be in say 5 and 10 yrs, then work back from that. Just remember that you Can do it and it is worth it!Hi. I remember being exactly where you are now. Exactly (though the machines didt factor in). Im no expert now[
], Ive bought 4 IPs in last 6 mths, and am now moving to some diff investment classes, but I run a bsuiness and that keeps cashflow high and fairly distracted. I read Kiyosaki. I read Lomas, I went to Richmastery (hated that course), and I started to get a head spin. The plan is important, it starts with where you are, where you want to be, what time frame, and how to best get it with reference to your situation (tax, commitments, etc). Only you can sit down and work that through first, sometimes its what you know best first or what you are most comfortable with. I like a focused approach, and Kiyosaki started to get on my nerves, though its a good starting point as it does awaken the brain, but I wouldnt really take his stuff and apply it to the letter. Steve is quite correct, and I do prefer his style and professionalism, though I dont follow his plan completely either because I have a different situation. I guess I come closest to Lomas. Now I must be confusing you, its late, better go to bed.Know thyself.
To put it simply, go with what works for you. some people are very big on precisely planning (with 14 page plans for this year, including graphs of where they were this time last year). Other are more ‘with the flow’.
if you are a loose person, a 14 page plan will be too restivte for your. if you are a born accountant, going with the flow will drive you mad.
find out who you are and then work with that.
Jas
Originally posted by Jas:if you are a born accountant, going with the flow will drive you mad.
Going with a closed plan can also restrict yourself. Go with the flow!
Cheers,
sisThanks everyone
sure am confused,But I will stay focused on property for now.
but still leave my options open as u dont know whats around the corner hey!
phil
] I agree with Mel, make sure you know what you want to achieve, not in investments but in life, where you want you and your family to be in say 5 and 10 yrs, then work back from that. Just remember that you Can do it and it is worth it!
], Ive bought 4 IPs in last 6 mths, and am now moving to some diff investment classes, but I run a bsuiness and that keeps cashflow high and fairly distracted. I read Kiyosaki. I read Lomas, I went to Richmastery (hated that course), and I started to get a head spin. The plan is important, it starts with where you are, where you want to be, what time frame, and how to best get it with reference to your situation (tax, commitments, etc). Only you can sit down and work that through first, sometimes its what you know best first or what you are most comfortable with. I like a focused approach, and Kiyosaki started to get on my nerves, though its a good starting point as it does awaken the brain, but I wouldnt really take his stuff and apply it to the letter. Steve is quite correct, and I do prefer his style and professionalism, though I dont follow his plan completely either because I have a different situation. I guess I come closest to Lomas. Now I must be confusing you, its late, better go to bed.
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