Blog | Entrepreneurship, Personal development, Personal Finance, Real Estate
Best of Kim Kiyosaki 2020
Top entrepreneurship, real estate, and personal finance blogs of 2020
December 31, 2020
Well, 2020 is certainly a year we’ll always remember — for the good (more family time, less running around, and more home-cooked meals), the bad (pandemic, health worries, unemployment, and social distancing) and the ugly (presidential election, lives lost, and so many small business owners losing their livelihoods). I think we’re all excited to flip the calendar to 2021 for a fresh start. But before we do so, let’s take a look back at the top posts I wrote for the Rich Dad blog over this crazy year — there’s some really good information within these posts that I don’t want you to miss out on, and I know they’ll help you on your journey toward financial freedom in the coming year.
Entrepreneurship
The side gig economy continued to boom in 2020, especially in light of so many Americans losing their jobs and needing to think differently about how they paid their bills. Some folks had to start from the ground up during the most volatile economy we’ve had in years (and still succeeded!), while others already had a side gig established and merely expanded upon it. If you’d like to put yourself in a better financial position for 2021, one of these five side hustle ideas could turn you into your own boss — an enviable position in this day and age.
So many people had big dreams for 2020, some of which came to fruition while others fell by the wayside as we all hunkered down during the pandemic. Still, a few of my predictions held true, such as a shift to freelance workforce and the consolidation of businesses. One of the best ways to predict the future is to review the past, so be sure to familiarize yourself with these business trends — 2021 may not be all that different in the business world.
Do you love to splurge and spoil yourself from time to time? That’s perfectly fine — unless you’re trapped in a cycle of debt because of your habits. So many women are plagued with student loan debt, credit card debt and other financial hardships that make it difficult for them to break the cycle and get ahead. In this blog, I show you a path to a brighter tomorrow.
I’ve said it before and I’ll say it again: A man is not a financial plan. Women must learn how to take control of their finances and not rely on a man to handle all the money in their relationship. The reality is that you never know when your man will fall ill, leave you, or die — and if you haven’t figured out how to achieve your financial independence prior to that shakeup, you’ll be at a huge disadvantage. Wouldn’t you rather start now?
Real Estate
Ahhh, I’m thinking back to when I made these predictions back in March — COVID-19 wasn’t even a word we were used to saying yet. However, many of my predictions still held up: record-breaking low mortgage rates, a shortage on real estate inventory, and suburbs growing in popularity because of their relative affordability compared to big cities. Jog your memory by re-reading this blog, and then take special note of the many resources I include on how to get started in real estate yourself. There’s no time like the present!
There’s no denying that making the leap into real estate investing comes with a steep learning curve. Yes, there’s a lot to learn before you dive in headfirst — but there’s no need to feel overwhelmed, because all you need to do is follow my step-by-step advice. Don’t miss my six tried-and-true tips that have certainly contributed to my own success in real estate investing.
Oh yes, this is it. The holy grail of real estate investing — learning how to do so using Other People’s Money (OPM) instead of your own! That’s right: If you understand all the rules to raising capital, you’ll never have to spend a single penny of your own money in the process. No, it’s not too good to be true. It’s one of the cornerstones of the Rich Dad philosophy — and this blog spills all my secrets!
I bet the title of this blog grabbed your attention, and for good reason: there are many ways to make money in real estate, and my personal favorite is through monthly rental income. That steady cash flow is the real path to financial freedom, as you’re generating income each month like clockwork. But it’s not the only way to get rich in real estate, so be sure to read up on the four additional ways real estate can help pay your bills.
Personal Development
I don’t know about you, but gambling with large amounts of money makes me pretty nervous. Sure, a little bet here and there is fun, but I’m also realistic about the very real possibility that I may never see that money again. The thing is, most “safe” investments aren’t all that safe — and that’s why I took the time to detail the realities of common investments like mutual funds and 401(k) plans. Turns out, they are a lot closer to gambling than investing in true cash-flow opportunities. See for yourself!
There’s a time and a place for mentors and coaches, because despite popular belief they actually serve two different functions. But how do you know which one you need, how to find the best one, and what value they will bring to your life? I break it all down in this blog, while sharing my own personal experiences.
What’s the one thing holding most women back from getting started investing in real estate, stocks, commodities or businesses? No, it’s not a fancy degree. And it’s not experience. It’s a lack of self-confidence. Don’t spend another minute hiding behind your lack of confidence; learn how to build the financial future of your dreams by following these three confidence-building steps today.
There’s a lot to learn when it comes to investing, which is why it’s so important to take a methodical approach to your process. Just as you need to learn to walk before you can run, you’ll need to take baby steps as you begin your investment planning journey. In this blog, I provide a three-step approach to narrowing down your options and setting yourself up for success.
Personal Finance
If you grew up the way I did, you were probably taught all about the importance of saving money. Too bad, as it’s terrible advice. No, I’m not bashing your parents — they were dispensing the same advice their parents had told them. They thought they were teaching you a valuable life lesson. Unfortunately, they were wrong. This popular blog is an eye-opening guide to thinking differently about saving versus investing.
Are you partnered for success? The reason my marriage to Robert has worked so well for so many decades is that our goals were aligned from the start. Finding the right partner in business and in life will play a large role in your financial success. Whether you’re single and still looking for the right partner or married and wondering how to become better aligned with your husband financially, this blog is chockfull of useful information to set you on the right path.
When you receive a paycheck, who do you pay first? If you’re like most Americans, you’re probably paying everyone else first — your rent/mortgage, groceries, utilities, car payment, insurance, etc. Then, once you’re done paying all those bills, you put whatever you have left into savings. Well, that’s the classic “paying yourself last” scenario and it’s a big mistake. Read on to discover why paying yourself first is the better route, even if you have debt!
One of the most common barriers to breaking into investing is money — I hear this complaint all the time. But I promise you that money is not an obstacle. The second you change your attitude and get a little creative, the money will appear. There are six totally attainable places to start looking for investment money. Don’t believe me? Read this blog for all the details!
Original publish date:
December 31, 2020