Thanks to readers like you I’ve been added to the list of Top Finance Blogs over at Modest Money. Looks like I’m in the top 100 which I’m pretty happy about 🙂 Check out some of the other finance sites on that list if you want some weekend reading. Thanks to Jeremy for making the list :0)
On a side note. Remember how I said before that to become smart investors we have think like burglars, and be on the lookout for windows of opportunity? 😀 Well recently I ran into an amazing opportunity. A couple days ago I heard on the local radio station while driving to work that Rich Dad workshops are happening in the Greater Vancouver area this week 😀 I was so excited I signed up right away. Rich Dad is a financial education brand created by Robert Kiyosaki, author of the popular book Rich Dad Poor Dad. Some of you may have seen my Tweet announcement earlier on this blog.
I’m glad at least one of my readers was interested in this learning opportunity too. So we actually went to the workshop together 🙂 I’m surprised there wasn’t more interest though.
So what did I get out of this 2 hour workshop? In short, a lot! 😀
First, there’s the complementary educational CD with a sticker price of $39.99. The contents in it include how to find investment reports, how to prosper in the “new economy,” and more. Then there’s also the free notepad and amazing ball point pen supplied by the hotel, also free (^_^) I go to so many of these seminars I never have to buy paper and pens anymore 😎 #setforlife
Second, the presenter, Katie, did a great job of getting the audience motivated about taking control of our money. The first thing we need in order to accomplish anything significant is passion, and she certainly inspired that in the audience 🙂 It all starts with a “burning desire.” Desires lead to actions, which leads to results. I’ll come back to this point a bit later.
Third, we learned about how to use other people’s money (O.P.M) so that we can invest and make profits even if we don’t have much savings ourselves. As most of you know I’m already using this strategy 😉 But through the workshop I’ve learned about options other than banks to borrow money from, for example, hard money lending, and seller finance. Good to know for future reference.
Fourth, they went over basic stock market analysis and options trading. Options sound like a lot of fun so I’m going to start trading options soon. Maybe as early as next week. I’ll explain what options are as I catalogue my learning experience with them on this blog over time. So this is me using my burning desire of becoming financially independent, to lead me to take action! （●＾o＾●）Which will then, as explained earlier, lead to results! 🙂 I could potentially make over 20% return on investment if I do it right 😯 My friend the starving artist has been successfully trading options for awhile now so I’m sure I can get some beginner tips from him.
Overall I thought the workshop was very informative and a good value for the cost of nothing, lol. The event I attended was yesterday. But the same workshops continue today and into Saturday, so if you’re a Vancouverite with no plans this evening or tomorrow I would recommend attending one of these free sessions. For details just Google “rich dad Vancouver workshops.” Or replace “Vancouver” with your own city to find out if the workshops are available in your local area 🙂
Note: If you go to these kinds of events, they will try to sell you further courses or other products or books. And they can be quite persuasive (o_O) For the right people, these additional training packages can be greatly beneficial and are well worth the money. But everyone is different and I don’t have any recommendations at all about whether you should or shouldn’t spend money on them. That’s up to you 😉 Also, I’m not affiliated with them in any way.
Random Useless Fact: The world’s largest living rabbit weighs 55 lbs and eats $90 of food a week. #highmaintenance
Speaking of rabbit, supposedly I would give my daughter a pair of rabbits because she got a high score and belong to top 5 in her class. But when I searched about rabbit, I learned that the cute rabbits that we saw on T.V. are different in real life, they don’t like to be touched!
I would love to own a pair of rabbits as pets. I know they can be messy though and hard to care for sometimes.
I think you had one of the better trainers. This is what I found on Google when I was searching for seminars in my city. http://www.cbc.ca/news/rich-dad-seminars-deceptive-marketplace-1.877709
That looks like some pretty deceptive marketing for sure. I guess it really depends on the trainers, or maybe they smartened up after that CBC report lol. Sucks for anyone to get suckered into those overly priced courses if it’s not right for them. There are some sneaky marketing tactics out there. Consumers beware I guess 😕
That is one SERIOUSLY big bunny.
I know right? Imagine the size of his incisors 😐
Robert Kiyosaki seminars and books usually get a bad rep, but I think they can be very useful. I’ve read his books, and found they are quite informative. They put your mind in the right perspective – the world is truly full of opportunities, working for your money sucks, passive income is the best.
Then when he goes into buying real estate with no money down, I close the book and throw it away because THAT part is a bunch of baloney!
You can find a great deal… If you can find an investor (joint venture) , you can offer then 50% of the property for putting down the down payment. Say you will not receive a dime until all there money is returned to them. If the property is sold, they are paid back first what they invested and then the rest is split 50/50. That is an example. Of course this will be difficult to do if you have no prior real estate investing experience like me.
Yeah I feel the same away about his books haha. Some of the info is really good and propels people to have a “get rich” mindset, but other parts of his book I don’t agree with. He thinks houses are liabilities if they’re cashflow negative, but I consider them to be assets. It could simply be just differences in connotations and semantics though. I agree with anonymous’ reply too.
Consider buying/selling stocks as farming, realtively simply and the majority of how you make money or increase your net worth (Ironic that you also own a couple of farms) As far as options trading goes… say you go fishing. All you have at the start is a boat, a hook, and a finite amount of bait. As soon as you throw your hook in the water, the bait starts to break apart, slowly at first, but faster and faster the longer it stays in the water. If the fish doesn’t bite soon enough, your bait is gone, and you have to replace it and try again. After a few tries, you get your first fish. That moment is unforgettable. You’re hooked (so to speak). You’re thinking: if I keep catching fish at this rate, I’m gonna fill my boat with fish in no time, and maybe I won’t have to go out to sea ever again! The thing is, letting yourself be seduced by that feeling is the surest way to wipe out your stash and lose your boat. No more free fish. It’s back to farming for you. So what’s a rookie to do? Well, at the village pub… Read more »
That’s some of the best advice I’ve seen out there – awesome Adam! I’m going to copy and past that for a later date! – Cheers.
Wow, thanks for sharing that list Adam 😀 Some great advice in there. I didn’t realize before that fishing has so many parallels to everything else in life. I’ll remember these analogies when I start my new journey into options. By the way I’m tempted to buy some TSLA now since it’s come down a bit from the peak. You probably still have most of your shares. Maybe some day, after a period of stable profitability, the Tesla board will decide to pay a dividend to attract a wider range of investors 🙂 Still a great company overall.
Not sure you need any extra help other than time in the markets and with the financial adventures you are already undertaking. Especially wasting time with questionable seminars. I know of many in the real estate business, who always know of someone doing outstanding having made $$$. what you don’t learn about is the MANY who have lost big, trying to get there, or those who did get there only to lose because they could just not stop. I too know of someone who does okay trading options. Let me tell you, he is definitely an odd fellow though, and pretty recluse… You need to be to do well in options. I think options is more like being a good poker player… a gambler. stick to what you already know. It’s fine to learn about aggressive investment methods, but be aware, VERY few do well at them. If you do get into options, I will be on the edge of my seat looking forward to your experiences – Cheers, and in this case best of luck! You’d be better to spend the time and find more TOU’s, CSU’s or BAD’s in their early stages…
Yup, survivorship bias is often overlooked yet is essential to a proper risk analysis. I bet way more people lose money trading than winning but not everyone will admit to making mistakes lol. I’ll test out the options waters with my toes. If it goes well I’ll continue, if not I’ll leave it alone. Hopefully it won’t turn me into a social recluse haha. I also like this quote I recently read somewhere: “Rich people constantly learn and grow. Poor people think they already know.”
I think they’re feeding him $90 worth of food below, but he certainly could make do on less expensive stuff… stupid, free-loading bunny…
Adventures in Frugal is slowly making its way up that list.
It sure is 🙂 Good job dude. With a bunny that size it can’t even be put into a rabbit cage. If the owners have a backyard they could just fence off the entire area and leave him in there. The bunny can eat fresh grass and the owners don’t have to buy rabbit feed or even spend time and money to mow the lawn lol.
I had the same speaker at the one I went to this year… Katie has lots of passion that is for sure… I think what bothers people is that they try to upsell the courses with “If you go to the back of the room right now, you will get half price off the 3 day seminar “…
They tried to sell us the package at least 3 times, especially nearing the end of the presentation. I was surprised that at least half the audience went and signed up for the 3 day seminar for $495. I almost did, but decided to think on it because this won’t be the last time they have these events here. I’m glad you had Katie O’Brien as well. Isn’t she an amazing speaker? I was impressed with her dedicated passion and unwavering confidence, which is not something I see everyday. By the way, did she tell your group the true story about that girl who grew up with a debilitating disease? We were all so captivated in the audience, and so touched how the teenager in the story never gave up hope despite being diagnosed with the terrible Still’s disease 🙁 I imagined every day must have been a struggle for her, which made me realize how lucky I am to have an able body and how I shouldn’t take something so natural for granted. This poor girl lost her ability to walk which must have been devastating 😥 It’s especially sad since she was really into sports and had to… Read more »
She told the exact story and in the exact same way… I was shocked because I didn’t expect her to be that girl.. When my seminar was over, I had to leave right away as I take the bus and if I missed it I would have to wait another half an hour at that time of night. I would of went up and talked to her. A lot of people who have things like illnesses happen to them, are total opposite and have “poor me” attitudes… Katie is the complete opposite. I was quite tired before I went to that event, but her passion and upbeat attitiude definitely kept me awake.
There is a youtube channel called tastytrade. They also have a website http://www.tastytrade.com. One of the guys was cofounder of Think or Swim. They talk about options from the basic stuff like buying calls or puts, selling calls or puts to advanced option strategies. Also if you seach for Liz and Jenny, 2 traders that work at tasty trade, they have about 5 videos on options in a playlist.
Sounds like you know a lot about options 🙂 Thanks for the info. I’ll check out those videos soon 😀 #researchtime