197: Invest In Yourself And Get To Financial Freedom with Kim Kiyosaki

Show Notes

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 action I will always say get some education get some education get some financial education on the asset class you like and then once you have some education start very small take baby steps put a little money down because as soon as you put so many down my interest goes way up. 

(12:57)One thing I recommend for women especially is to go out and buy a 1 ounce silver coin. it’s been across 20 dollars US today. But what that does because you know got this asset this gold or silver coin all of the sudden your interest will go up will look at the prices of silver every single day, what’s it doing. Why is it up, why is it down? And because you’ve just parted with 20 dollars US you become this quasi expert on silver. 

(13:31)I’m a big believer in you’ve gotta  put some money down, get into the game and then that’s where the real learning happens. You gotta go out and do the real thing. 

Raising kids and being married while building your wealth

Your family, most importantly your kids should not be a reason for you not to seek for financial stability. Although Kim and Robert don’t have kids, she shared a very good example here: 

(14:09)Robert and I do not have kids, really by choice.

(14:19)But my girlfriends for example Lisa Lannon, she’s a Rich Dad advisor, she and her husband Josh, they have very successful businesses they have 2 kids they involve their kids in their business, they involve their kids in their investing so when they go out and lock at a property they bring the children along so they educate the kids as well as educate themselves. So for women, especially with the internet there’s so much opportunity offer in the internet for business and things like that I think the parent of course can be the best teacher. So why not include the kids. It amazes me how young kids get interested in money. They know about money. When their very very young. So why not educate them while your educating yourself. 

(15:14)I don’t think it has to be one or the other.  I think you can do it together.

(15:21)and same with the relationship same with couples I’m not advocating for the woman to go out there she’s married and she has a life partner then she goes out there and do this all by herself and separate from her spouse this is ideally investing it’s something you want to do together as a couple because you grow together you learn together. 

Invest in yourself
Being a woman is not an excuse to remain financially dependent on someone else. Be encouraged with Kim’s words: 

(20:00)Most important investment is to invest in yourself and to invest in your education. And for me, it’s about your financial education. 

(20:12)At some point you gotta put yourself first. As a woman we tend to put everybody else first, we put our husbands, our family, our kids, everybody else first . There comes a time you gotta say “hey! I gotta put myself first” 

(21:05)Oftentimes, too many of us women find ourselves in a financial crisis and they’re not educated about money. They have no idea. 

(21:27)Especially if you are a mom, I think you owe it to yourself to get financially educated to take care of your kids in case something happens. 

(21:53)When people say “I’ll try to get there” “I’ll try to be there” “I’ll try to make it” If you’re saying I’ll try, you’re already saying “I’m not gonna do it” . Cause try doesn’t even exist.  

(22:22)So just be honest with yourself 

The secret of Success

There’s no such thing as a secret to success, according to Kim it’s all about personal development and letting go of fear: 

(28:07)Well there’s really no secret except we work on ourselves we work on this because this is what holds us back the fear the doubt the all of the things that get in our way that’s  what holds us back from success. 

(28:29)For somebody who is just starting out. If you’re just starting out in investment, in real estate, in a business, it’s scary because it’s an unknown. You haven’t done this before we got this horrible fear of making mistakes. So when we come up against obstacles and things like that oftentimes this is the biggest obstacle. So if we can keep clearing our thoughts, our beliefs, our ideas especially around money, that can free us up to move forward with a lot of energy.

Women Empowerment

This is the perfect moment for women to stand out and stand up. Gone are the days of taking the back seat. Here is Kim’s call to all women:

(38:11)For women right now I’m saying women we need to go for it the world is really messed up right now it’s messed up financially, economically, morally, ethically and I think it’s up to the women to turn things around because we deal with different energy, we deal with different spirit we bring a whole different personality to the world. 

38:42-39:05 Right now it’s up to women to  stand up to start being role models start being leaders in their families in their communities in their cities in their countries and that’s more why I speak or why I educate it’s not just about you getting financial security it’s really about women stepping up in taking leadership roles and really changing the world. 

Transformation 

Financial situations that hinder us from being secure can only be changed with real transformation. Here is Kim’s explanation based on Neuroscience: 

(39:51)If you’re in that situation you gotta ask yourself if I keep doing what I’m doing every single day am I gonna get the outcome I want?

(40:10) If they keep doing what they’re doing is that gonna change that situation or not and if it’s not then they have to ask themselves what do I need to do in order to change it? So, for real change to happen, real transformation to happen it's a four step project, a four step  process. One, you gotta get information. Two, you gotta take action so if somebody’s in that situation and they’re not doing anything different nothing’s gonna change so you got to take action that’s different. the 3rd step is what’s called feedback so for every action we take, every single action we take there’s feedback.

(41:28)The fourth step is called incubation where you take time being yourself and really incorporate what you’ve learned into your body of knowledge. 

Key Takeaways :

1. Have a proper allocation of your scarce resources to satisfy needs and wants


2. Educate yourself first before anything else.


3. Change your money mindset.  


4. Make it your goal to be financially secured.


5. Don’t be afraid to take risks and invest.

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/geneciaalluora/
Check Genecia’s LinkedIn: https://www.linkedin.com/in/genecia/

Free Resource: "Soul Why: Soul Rich Woman Blueprint" and "How to Delegate 80% of your to-do list" ---> https://be.soulrichwoman.com

Secrets of Manifesting Money Quickly Online Course ---> https://shor.by/moneymindset

[00:00:02]
Speaker 1: A strong and independent woman is something to behold. She pays her own bills, buys her own things, and she doesn't let a man affect her stability or self-confidence. She is a Soul Rich Woman.

[00:00:15]
Speaker 2: Are you ready to be rich in doing what you love be on purpose and in control of your life again. And for women who love the F-word podcast, we will be openly talking about getting more clients online, getting recognition as the leader and female entrepreneur, and also the F-word being fabulous, having freedom and financial independence. It's time to own and love the F word. Welcome to the show.

[00:00:48]
Speaker 2: All right, Kim, thank you very much for being here.

[00:00:52]
Speaker 3: Thank you, Genecia. I'm so excited to talk with you.

[00:00:57]
Speaker 2: Yes. Okay. So I want to say I'm really very blessed to meet you. I love to see you in Singapore real soon. So for those of you who do not know Kim that well yet, so let me just do a quick introduction. And now Kim is an internationally renowned speaker, best selling author of Rich Woman. I must flaunt my book. I have all these stickies here as well. You got to sign them when you come here. Okay.

[00:01:30]
Speaker 2: And of course, you're the author of The Good Deal, Bad Deal, radio show host, entrepreneur, and real estate investor. Now, Kim realized early 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 of helping women to achieve financial freedom through investing and taking control of their financial futures. OK, so we have Kim in the house. Kim, once again, welcome. Thank you.

[00:02:13]
Speaker 3: Thank you, Genecia. Thank you for having me. I can't wait to see you in Singapore.

[00:02:18]
Speaker 2: Yes. So when are you going to come to Singapore? I know you're going to be in Singapore earlier.

[00:02:25]
Speaker 3: Yes. So there's the big masters of the century. The name of that event, I'll be there for that 23rd, 24th. And then we are doing our Rich Woman event for two days with my team of women. We're dear girlfriends, entrepreneurs, investors, we travel the world, and we do not do this event very often, very rarely, actually. But Veronica and Richard best resources, they've been so good to us. So we're really, really excited to come to Singapore and to meet the women of Singapore. I know Singapore very well, and I know the women of Singapore and Asia are our house, and it's time for the women to step up because the world needs strong women leaders right now, and that's one of the reasons that we're coming and we're teaching and we're educating.

[00:03:23]
Speaker 2: What made you wanted to write this book, Rich Woman? I mean, like, I've read it, I love it so much. I educated myself, so, I mean, like, you have started at such an early age, and then you put this whole piece together, and it's for us. So why do you do it? At the beginning?

[00:03:44]
Speaker 3: Yeah. The reason Genecia, I wrote Rich Woman was because Robert and I would travel the world teaching the Rich Dad philosophy, speaking to big groups, and I would get up on stage and I would speak to the women for just a few minutes. And at every event, whether it was Singapore or 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 be it a husband, family member, government. We've actually been taught not to take, not to not to take care of ourselves financially, but to be dependent on somebody else. So that puts us often in dire straits. My whole message is we need to be in control of our own finances. We need to step up and be financially literate. And ideally, it's up to each one of us to be financially secure and financially, nobody's going to do that for us.

[00:05:08]
Speaker 3: No financial advisor, no financial planner, and it's not rocket science. Anybody can do it. But it takes time when it takes education.

[00:05:17]
Speaker 2: I think one of the big pieces is when you said, anybody can do it, anyone can do it, it feels like a hurdle because a lot of us in our education system, we are taught that to go this way or when we were supposed to go to the left, if we go to the right. If teachers say go to the right, we'll go to the right. So we're kind of like, boxed up in this system where we are not taught financial literacy at a very young age in our generation. And how can we do more now that you're saying that anybody can do? How can we cross this hurdle in our minds that we can actually do it?

[00:05:53]
Speaker 3: Yeah, well, when you say minds, when you say mind Genecia, that's the biggest part of it. Number one is our thoughts and our beliefs rule everything. So if our thoughts and beliefs are, I don't know anything about money, I'm not good with numbers, somebody else will take care of me, then that's a recipe for disaster. So actually starting to take control of your finances starts very simple. We start small. We take baby steps. We don't go for the big deals. We stay with the small deals. The most important thing is that understand, there's no cost, there's no magic pill, there's no real. Everybody wants the fast answer. Give me the answer. Give me the secret. There's not, it's a process, and it's a process of education. It's a process of experience. But it's not difficult. It's just a matter of committing to wanting to have what money really is. It's about freedom. It's about having choices. And too many of us women find ourselves in dire financial strength as we get older due to death of a spouse, divorce, bad money management. So too many of us women find ourselves in a financial crisis, and that does not have to happen.

[00:07:21]
Speaker 3: So it is not difficult, but it does take time. You got to commit to it and you've got to put in the effort.

[00:07:31]
Speaker 2: So what is the minimum amount that any woman can start to build her financial future?

[00:07:38]
Speaker 3: Well, I started with nothing. I started with nothing. And I'm going to tell you, probably the best thing of all is that I did not have the money. Robert and I did not have the money. So, for example, our very first investment, my very first investment was a little two bedroom, one bath house in a place called Portland, Oregon. It was $45,000. I needed $5,000 down $5,000. Did not have it. But here's the beauty of it. Probably for the first ten to twelve real estate deals, I did, I did not have the money. And what that forces you to do is get very, very creative. So 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 it puts your mind to work on, how can I now get the money? How can I create the money in order to get the investment? And that's probably one of the biggest things. So when people say, when I get the money, I'll invest, chances are when I have extra money, then I'll start investing. Chances are we're always so busy, we always have something that takes up our money.

[00:08:56]
Speaker 3: I always say, find the investment first, then the money moves up. Figure out how to get the money.

[00:09:03]
Speaker 2: I remember watching one of the interviews, in fact, in a recent one that you did when you were in London, you talk about achieving financially free is so simple. You spoke about the concept of keeping your expenses low while the money that you bring in just higher than whatever you're spending. And that difference in itself is financial freedom. Tell us more about this mind boggling concept, because people think that having financial freedom is multimillions of dollars.

[00:09:35]
Speaker 3: Yes, exactly. In 1984, Robert and I were financially free, and exactly as you say, everybody thought, oh, you must have millions of dollars set aside in savings that you're going to live off of. No, that was not the case. And our formula is very simple. 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. But we had $10,000 a month cash flow from our rental properties, but we only had $3,000 a month in living expenses. So at that point, 10,000 coming in, 3000 going out. We were financially free. And the most beautiful thing about that is that for the first time, I didn't have to worry about money, which was huge. We all worry about money. How do we pay our bills? How are we going to make this payment? How are we going to do the next thing we want to do financially? Number one, I did not have to worry about money anymore. And number two, it gave me the luxury to ask myself, what do I really want to do with my life? So it's all about financial freedom.

[00:10:49]
Speaker 3: It's about freedom. It's not so much about the money. It's about freedom. It's about having choices to live the life you want to live. That's what it's about. And then every single real estate investor, successful real estate investor that I know are small, work through their process. And today, because of that, that's what makes them successful. And so I'm very straightforward. I'm very forthright on what it's going to take, the reality of what it's going to take any woman if I can do it, I didn't know anything about money. I didn't know anything about investing. I didn't know anything about real estate. So if I can do it, you can do it too.

[00:11:31]
Speaker 2: But there must be a gap that you filled up, right? I mean, the time when you understood your expenses are low and having more cash flow to that point of zero, to that point of acceleration, what was it that filled the gap for you and Robert?

[00:11:46]
Speaker 3: When you say fill the gap, meaning.

[00:11:49]
Speaker 2: How do you have that awareness to know that, okay, I need to do this, I need to do this, I need to do this?

[00:11:54]
Speaker 3: Oh, I made a ton of mistakes. A ton of mistakes. A ton. That's the key to success. I'm going to tell you right now that's the key to success is making mistakes. Everybody is so afraid of making a mistake. The only way we learn is by making a mistake. So Robert started to explain to me what his Rich Dad taught him about real estate. And he's like, okay, so go buy something. Go figure it out. I'm like, I don't know how to figure this out. I just went bumbling and stumbling along. But the key is you've got to get into action. So I always say, get some education, get some education. Get some financial education on the asset class you like, there's four asset classes, the asset class you like. And then once you have some education, start very small. Take baby steps, put a little money down. Because as soon as I put some money down, my interest goes way up. Way up. If I put $100 onto something, I'm going to be interested in what that's going to do. So, for example, today, one thing I recommend for women especially, is go out and buy a 1oz silver coin.

[00:13:02]
Speaker 3: It's going to cost about $20 US today. But what that does is because you've now got this asset or this gold silver coin, all of a sudden your interest will go up. You'll look at the price of silver every single day. What's it doing? Why is it up, why is it down? And because you've just started with $20, you become this quasi-expert on silver. I'm a big believer, and you've got to put some money down, get into the game, and then that's where the real learning happens. You got to go out and do the real thing.

[00:13:41]
Speaker 2: I love that is where your treasure is. That's where your heart will be. Now, how can a woman with kids, a lot of them are asking, they have kids, they have work all at the same time. You're saying they have bills of pain thinking about education also, I can't do this. So how do you advise them to strike a balance between raising kids and building their wealth?

[00:14:07]
Speaker 3: Right? That's a great question. Robert and I do not have kids purely by choice. I have one kid called Robert. That's enough for me. That all I can handle. But my girlfriend, for example, Lisa Lannon, she's a rich dad advisor. She and her husband Josh teach. They have very successful businesses. They have two kids. They involve their kids in their business, they involve their kids in their investing. So when they go out and look at a property, they bring their children along. So they educate the kids as well as educate themselves. So for women, especially with the Internet, there's so much opportunity out there on the Internet for business and things like that. I think the parent, of course, is going to be the best teacher. So why not include the kids? It amazes me how young kids get interested in money. I mean, they know about money when they're very, very young, so why not educate them while you're educating yourself? I don't think it has to be one or the other. I think you can do it together. Yeah, and same with relationships, same with couples. I'm not advocating that a woman go out there, she's married and she has a life partner, that you go out there and do this all by herself and separate from her spouse.

[00:15:30]
Speaker 3: This is ideally, investing is something that you want to do together as a couple, because you grow together, you learn together. I do not understand why people you work so hard for your money. We work every single day for the paycheck, or if you're a business owner for that revenue. You work so hard for it, why would you turn it over to somebody else who you hope and pray is going to do a good job with it. Nobody is going to take care of your money better than you. And the most important thing I think someone can do is be aware, get educated and invest their money themselves and be responsible for your finances.

[00:16:19]
Speaker 2: That's right. And if you have not signed up for our Rich Women event happening on the 26th and 27 October, do remember to stay tuned to the end because we've got a really special gift for you where you can get a really special, I would say, discount. Okay? So do remember to stay tuned till the end. All right? Very, very important. Now, I'm very curious. You mentioned about your partnership with Robert and your relationship, right. And this is a question that always asks power couples. Okay. And how do you consistently, we talk about power struggle. How do you consistently work together hand in hand? You know, what it's like two relationship advice or three tips you would give any woman who probably have some kind of thing going on, but how can they manage it better, just like you?

[00:17:19]
Speaker 3: Well, I don't do it perfectly by any means. Robert and I being married is not the easiest thing either. You're always working on it to keep growing and to keep growing. So to be married and to be business partners is not for everybody. Absolutely not for everybody. It works for us. But the one thing I found is that we have very different roles. So Robert was always his story. He's the visionary. I love the business, and I never, ever expected to be on stage doing the whole Rich Woman thing. I love business. Even today, we have totally reinvented our company over the last few months. So I was not actively involved for the last few years. Today, I am the CEO and President. I am in there every single day running the company with our team. But I love the business. And Robert is the author. He's the big picture. So that works really well for us. Not in fact, the only arguments we have are about the business. We don't have arguments personally. We have arguments about the business because we're very passionate about our business. It is our baby. Our mission from day one in 1996 has always been to elevate the financial well-being of humanity.

[00:18:46]
Speaker 3: We live that. We breathe that with the company. Today, we're getting back to our roots of what that's about. We're building, bringing out the cash flow clubs. Our first product. Our first product, Genecia, was the cash flow board game. And that's near and dear to our hearts because that's where people can teach people. So Robert and I don't have to be going all over the world teaching people can teach each other through this cash flow board game. So in terms of how we work with a couple, I don't have three tips. It's always a dance. It's always a dance. And you've got to allow each other to bring their talents and their gifts to the table, and that's what works best for us.

[00:19:33]
Speaker 2: Many women tell me that, oh, Genecia, I can't come for the Rich Woman event. I'm too busy taking care of my kids. Oh, I need to ask my husband about the investment I'm about to make. Why would you say to these women with so many things, to consult someone else?

[00:19:52]
Speaker 3: Yeah, okay. I think the most important investment anybody can make, men or woman, the most important investment is to invest in yourself and to invest in your education. And for me, it's about your financial education. So to think that at some point you've got to put yourself first as a woman, we tend to put everybody else first. We put our husbands, our family, our kids, everybody else first. There comes a time where you got to say, hey, I got to put myself first. It's like when you get on an airplane and they say, in case of emergency, put your oxygen mask on first before helping others. Right? Right. So I think women have got to start putting on their oxygen mask first, start taking care of themselves. And to say, I can't come because of my husband or my kids, it's just an excuse. It is just an excuse. Either you want to do it or you don't. If you don't want to do it, just say, I don't want to do it. Don't say it's because of my kids. Don't use the excuse. There are so many excuses out there. So you got to decide for yourself what's most important to you in your life.

[00:21:04]
Speaker 3: And as I said, oftentimes too many of us women find ourselves in a financial crisis, and they're not educated about money. They have no idea. Let's say the husband passes away. She has no idea where the money is, what they've got, where it is. Mr. and Mrs. Helper, come along. I'll take care of you. And next thing you know, she's broken. Especially if you're a mom. I think you owe it to yourself to get financially educated, to take care of you and your kids in case something happens.

[00:21:36]
Speaker 2: Wow, that's really a golden nugget, ladies. Delete all your excuses and bring on that action. It's either a yes or yes. There's no other way.

[00:21:47]
Speaker 3: For example, I'll give you one thing that I've learned over the years, is that when people say, I'll try to get there, I'll try to be there, I'll try to make it. If you're saying I try, you've already said I'm not going to do it because try doesn't even exist. Trying to pick up this pen. When I pick up note you picked up the pen. Try to pick it up. I picked it up trying to not even exist. So as soon as somebody says, I'll try to be there, I'll think about it. It's just an excuse so just be honest with yourself whether we want to do it and invest in ourselves. So what are the three investment avenues, other than herself, that a woman can look into to start building her first steps to wealth?

[00:22:39]
Speaker 3: Well, Genecia, there's four asset classes, and Warren Buffett says there's many ways to financial heaven, and you've got to find a way that's right for you. So the four asset classes, one is business, investing in other businesses, building your own business. There's real estate, which is my investment of choice. I love real estate. I understand it. It works for me. There's paper assets like stocks, funds, mutual funds. And there's commodities. Commodities, Gold, silver, copper, soybeans, coffee. Those are all commodities. So you've got to find the investment, the asset class that sings to you and it will it will speak to you. So, for example, I knew early on that real estate, it's fun to me. It's a fun game. I enjoy it. I understand it. My girlfriend, who was an accountant, loved trading. She loved day trading. She loved trading what's called options, stock options. She was very good at it because that's the way her mind works. So don't go along just with what I say. Just because I do real estate, that doesn't mean that might be the best thing for you. But my two investment choices are business and real estate. I tried stocks.

[00:24:03]
Speaker 3: I've taken classes in stocks. I have studied the stock options, things like that. It doesn't fit with my personality. So you've got to find the one that's right for you. And then the other key is there's two things that investors invest for. One is capital gains. Capital gains is you buy a stock at $20, it goes to $50. You sell it, and your profit is called capital gains. If you buy a house for $100,000, put a little money into it, sell it for $150,000, your profit is called capital gains. You must sell an asset in order to realize capital gains, you have to sell. The other thing investors invest for is cash flow. I am the queen of cash flow. I love cash flow. So cash flow is where, like in paper, in stocks, maybe every twice a year, once a quarter, you get a dividend check on your stock. That dividend is cash flow because you're putting money in, it's working for you. It's giving you a return cash flow. You buy a rental property every month. You collect the rent, you pay the mortgage, you pay the expenses. If you've managed the property well, at the end of the month, you have a positive cash flow.

[00:25:23]
Speaker 3: So I am all about cash flow, because once you buy an asset and it's giving you cash flow every month, eventually you keep accumulating more and more assets that are giving you cash flow that's flowing into your income column. At some point, your income from your cash flow will replace the job salary paycheck that you're getting. And at that point, you're financially free. That's what I'm about. Money has the power, especially for women, to enslave you or to set you free. Too many women marry for money, are in bad relationships, because they're afraid they can't make it on their own financially. They are in jobs they hate because they need the paycheck. So I am not about having money in slavery. I am all about money setting you free.

[00:26:21]
Speaker 2: Wow. This is a very important statement. It's all about having the money that allows you to set you free, right?

[00:26:28]
Speaker 3: Yes, free. You want to live the life, you want to do what it is you really want to do with your life. We all have a gift, we all have a talent. Often times it's covered up because we have to work for money. We have to kind of sell our souls for money. So what if you had the financial freedom where you didn't have to do that anymore, where you could just live your life true to who you are at this point?

[00:26:52]
Speaker 2: So what will you be sharing with our audience, our women, this coming October? What exactly will you be covering into? How we're going to discover our personality types to work in the different asset areas, or we're going to learn more than that. Tell us more.

[00:27:09]
Speaker 3: Well, there's a lot we're going to cover in two days. And I have my three girlfriends again, entrepreneurs, so, Lisa Lannon, Steel Stanford, Ronny Jaggers, entrepreneurs, investors, very, very successful. We teach as a team. A lot of fun. And we're going to cover really three areas. So we're going to cover financial development, financial education, financial development. We're going to talk about investments. You're actually going to analyze some investments. We're going to talk about business development, entrepreneurship, building a business, investing in a business. We're going to analyze a business. But the real key to all of this is personal development, because you are the foundation of everything successful in your life. And for me and for Robert, people often ask, what's your secret to success? What's your secret? Well, there's really no secret except we work on ourselves, we work on this because this is what holds us back. The fear, the doubt, all of the things that get in our way, that's what holds us back from success. So the more we can clear this and work on this and work on us, the more we broke. So for somebody who's just starting out, if you're just starting out in investments, in real estate, in a business, it's scary because it's an unknown.

[00:28:39]
Speaker 3: We haven't done this before. We've got this horrible fear of making mistakes. So when we come up against obstacles and things like that, oftentimes this is the biggest obstacle. So if we can keep clearing our thoughts, our beliefs, our ideas, especially around money, that can free us up to move forward and have a lot more energy.

[00:29:00]
Speaker 2: Wow, I love that. Now, for those of you who just joined us, we just want to acknowledge you right now, with as many of you here in the room, we just want to acknowledge you. We know that you could be doing something else. So we are doing everything in our power to make it well worth your time. All right, so after the end of this webinar, the webinar replay will be posted on Success Resources Facebook page. So not to worry if you missed the front part. So it'd be available on the Success Resources Facebook page. And also, at the end of the webinar, we will be sharing with you a gift. Okay, last but not least, you get to ask questions. And we have already more than ten questions sitting on my table that were already pregiven to us and so one whole list. So the team has really filtered some of those important ones that desperately want them to be answered. So, Kim, one of the questions that came in during the Q and A actually asked how to start a real estate business with limited resources. So that's one of the questions that the participants have given us. What would you say about that?

[00:30:14]
Speaker 3: A lot of people say that they all think it takes money to make money. I'm here to tell you, it doesn't take money to make money. I'm a walking example of it. As I said earlier, my first, probably ten investments, I did not have the money. And what the number one excuse people use is, I don't have money, so I can't invest. I would say, number one, start getting educated on whatever it is that interests you. Whether it's real estate, whether it's business, whether it's stocks, bonds, options, whatever it is, start getting educated, because then you'll start to see things differently. And the second thing is, go find an investment. Whether you have money or not, go find one. Just go start looking. Start small. I always say, get some education. Take baby steps. Start small. Go buy a share of stock that can cost you like, $10. That's easy. But don't overthink it. Just get into some action. Get some education. Start small. Go buy that silver, 1oz silver coin. Go buy a share of stock online. There's so much opportunity online for you to create assets online. But I would start there. I would start there.

[00:31:37]
Speaker 3: Just start. Don't think about it so much. We get into analysis, paralysis. And they all want the formula first. Just start. Just start. There's two things you can invest. You can invest time and you can invest money. So before you start investing your money, invest the time in your education and your investment education. Do that first, then invest a little bit of money.

[00:32:03]
Speaker 2: A little bit.

[00:32:05]
Speaker 3: A little bit. Because you're going to make mistakes. Okay, I'm going to say one more thing, Genecia.

[00:32:09]
Speaker 2: Yes.

[00:32:11]
Speaker 3: So we all go to school, especially in Singapore. School is very important. We're all taught to go to the right school, you got to get the education. All this, let me tell you that what they teach you in school is opposite of what it takes to be successful in real life. So, for example, number one, in school, they say, don't make a mistake. They punish you, right, for making a mistake. They give you an F. They give you a red mark. They humiliate you in front of people. Okay? So people come out of school scared to death of making a mistake. The only way we learn is by making a mistake. A mistake only shows you something that you didn't know. So you make the mistake, and you get the lesson instead of going, oh, my God, I made a mistake, and you beat yourself up. What's the lesson? Where is it? What's the learning in that mistake? When we get smarter, then we can move forward. So number one, they teach you not to make mistakes. Number two, school teaches you to do it on your own in real life. If you do it on your own, you're only going to go so far.

[00:33:13]
Speaker 3: You need a team. You need people around to support. You need the team for investing. You need the team for business in order to grow and build it. And the third thing that a school says is, there's only one right answer. Well, no, there's a lot of right answers to the same problem. There's a lot of right answers to one problem. There's not one right answer. And we're trained to look for the one right answer. Give me the one right answer. Everybody says, how do I get successful? Give me the answer. No, there's no one right answer. There's a lot of answers. So a lot of it is deprogramming our mind. What we were taught in school, school actually can hinder our success from what it takes to be successful in our life.

[00:34:00]
Speaker 2: Wow, that's very good advice. One of the other questions is what are your go to time management strategies? I mean, you're so busy about business managing so many things. How do you do that?

[00:34:14]
Speaker 3: I have no idea. There's different personality types. My personality type is called a quick start. I go to solution very quickly. I go to action very quickly. And sometimes that's a plus, and sometimes that's a minus. But I just know that I know the most important things I need to handle, and I do my best to handle those first in the day.

[00:34:46]
Speaker 2: Do you intuitively know what exactly you have to handle, or do you, like, have a priority list that you do or something?

[00:34:55]
Speaker 3: Oh, that's a good question. As I've gotten older, and maybe because of more experience and more knowledge, my intuition does kick in stronger. And I don't have to do lists. I don't do well with them. But I have maybe five things, like, every day, maybe five things that I have to do. And here's the thing that has worked for me. Oftentimes there are things that are uncomfortable that I don't want to do. Like, you got to make that phone call and tell somebody that you're not going to do business with them or there's an upset and you need to confront it. So what I've learned is I've gotten pretty good at confronting the things that make me uncomfortable. Wow. Well, I would say this in all aspects of life, and this comes if you want to build your business, if you want to start investing, if you have a hard, you've got to start getting comfortable being uncomfortable. You've got to do those things that are going to stretch you. If you want to be successful, you've got to get out of your comfort zone. If you keep doing the same thing day in and day out and day in and day out and not stretch yourself and not get out of your comfort zone, you're never going to grow.

[00:36:17]
Speaker 3: So my fitness coach says, you got to get comfortable being uncomfortable. And he gives me the hard exercise, and I'm like, I really don't want to do that. I really don't want to run up those stairs 20 times. He goes, well, then just stay comfortable and stay where you're at.

[00:36:36]
Speaker 2: Wow. Yeah, I love that. And how do you know I just want to add one more question to this. How do you know exactly when you are in the comfort zone so that you can activate the other part of you and say, hey, it's time to get out and get moving?

[00:36:53]
Speaker 3: Yeah, well, because you feel it inside. Like, let's say there's a phone call you need to make and it's going to be uncomfortable. You know, your body will tell you because it'll feel like this angst and you might be a little scary. It might feel like little goosebumps and all of that stuff. You know, when there's something that you need to do, that's going to take a little more effort and either you're going to do it or you're not. So, for example, on my very first real estate property, my little two bedroom, one bath house, I was scared to death. What if I make a mistake? What if the tenant moves out? What if I lose money? What if, what if, what if, what if I was scared to death? And there came a time where I went, okay, I'm either going to do this deal or I'm not. And I knew if I did it, there was going to be a big learning curve and it was going to make me very uncomfortable, but I was going to learn something. And if I didn't do it, I wasn't going to learn anything. So you know in your heart, whether you're backing off or whether you're pushing forward, you know, and you know when you wimp out and you know when you go for it.

[00:38:09]
Speaker 3: Right now, for women right now, I'm saying women, we need to go for it. We need to go for it. The world is really messed up right now. It's messed up financially, economically, morally, ethically, and I think it's up to the women to turn things around, because we bring a different energy, we bring a different spirit, we bring a whole different personality to the world. And too many of us have been sitting in the background letting everybody else, letting our spouse and everybody else do stuff. Right now, it's up to women to stand up, start being role models, start being leaders in their families and their communities, in their cities, in their countries. And that's more why I speak and why I educate. It's not just about you getting financially secure. It's really about women stepping up and taking a leadership role and really changing the world, really making a difference in the world. It's about making a difference in the world.

[00:39:09]
Speaker 2: Wow. Two more questions. How to recover from paycheck to paycheck situation when you have too many obligations? How to recover from paycheck to paycheck situation when you have too many obligations?

[00:39:28]
Speaker 3: So I'm assuming they're talking about financial obligations.

[00:39:32]
Speaker 2: Yeah, I think so.

[00:39:33]
Speaker 3: Financial obligations. Okay, so this comes from neuroscience. I've studied neuroscience lately and how real change and real transformation happens. So if you're in that situation, you got to ask yourself, if I keep doing what I'm doing every single day, am I going to get the outcome I want? So if somebody is living paycheck to paycheck and they've got all these obligations, if they keep doing what they're doing, is it going to change that situation or not? And if it's not, then they got to ask themselves, what do I need to do in order to change it? So for real change to happen, real transformation to happen, it's a four step project, a four step process. One, you got to get information. Two, you got to take action. So if somebody's in that situation and they're not doing anything different, nothing's going to change. So you got to take action. That's different. The third step is what's called feedback. So for every action we take, every single action we take, there's feedback. So if I shake your hand and you shake my hand back, that feedback. If you touch your finger to a hot stove and it burns, that's feedback.

[00:41:00]
Speaker 3: Too often we have all this feedback coming to us. That is gems. They're gems. They are like, the best information, but we're ignoring it. We're not aware of it, we're not paying attention to it, so we don't learn from it. And then the fourth is when you get that feedback, let's say you're launching a new product and nobody buys it, sales or zero, that's feedback. So then you got to take that feedback, what you've learned. And the fourth step is called incubation, where you take time to yourself and really incorporate what you've learned into your body of knowledge. So if somebody is living paycheck to paycheck and struggling, they got to ask themselves, is what I'm doing if I keep doing this every single day? Is it going to change. And if not, then they got to start looking for new answers. They want to be comfortable and it's the killer. It's the killer. If you just want to be comfortable, then just know that as long as you want to be comfortable, nothing's going to change and you're not going to try to get the outcome.

[00:42:15]
Speaker 2: For people to be from moving to them, from unconscious competence to conscious competence, would probably take the Rich Woman education. You must invest in yourself so that you can up level your financial knowledge and really your financial education. Here at Rich Woman. 

[00:42:40]
Speaker 3: Most women, they love to spend money. We love to shop, we love to spend money, right? So at the two day seminar, we're just going to talk about how to spend money differently, how to spend it, what to spend it on, instead of spending it on shoes and handbags and all that good clothes and all of that stuff. We're going to talk about how to spend your money so that it makes you money and it makes you financially free. Again, it's not rocket science. It's just rethinking changing your mindset to think a different way, to see things differently. For example, everybody's talking about a big crash that's coming. There's probably a global economic crash that's going to happen. Well, if that happens, especially, let's say for real estate, when a real estate crash happens, that's the best opportunity to buy your investments that are going to make you a lot of money. It's just like when clothes go on. When the store has a big clothing sale, we all go in and buy because it's cheap. Well, when there's a real estate crash, it's cheap. You go in and buy. But unless you know what to look for, unless you know a good deal from a bad deal, you're going to miss the opportunity.

[00:43:53]
Speaker 3: So right now at our event, we're going to talk about how do you find a good deal versus a bad deal? How do you spot a good business from a bad business so you know what to look for as you're looking into your future.

[00:44:09]
Speaker 2: Wow, this is really exciting. We will know exactly what to look for.

[00:44:16]
Speaker 3: They don't know what questions to ask. They don't know what to look for. So probably the best way to say it is these two days, we're going to open your eyes for that.

[00:44:24]
Speaker 2: Wow, this is really awesome. So I'm really very excited. And the last question is, what's your greatest attribute to your success?

[00:44:38]
Speaker 3: The greatest attribute to my success? I never stopped learning. There we go. I never stopped learning. And I work on this and I work on my personal growth. I'm always looking at my beliefs, my thoughts. I mean, if one thing, if you took nothing away from this webinar right now, one thing, be aware of your thoughts. Just every once in a while, listen to your thoughts. Listen to your belief? Because I catch myself all the time, every day with this negative thought, this negative belief, and I stop myself and I catch myself, and I go, okay, so is that serving me or not? If we can start to be more aware about what our thoughts are, what our beliefs are, what we're saying to ourselves, what we're saying to other people, that's huge. And we talk about one of the keys to my successes that would be one of the keys to my successes is being aware of all that selftalk and that self chatter and that little voice in your head, as the singer would say.

[00:45:43]
Speaker 2: Do you have a favorite quote that keeps you motivated or keeps you going? Kim.

[00:45:54]
Speaker 3: There's a quote by I think it was Emerson. I think it was Emerson. He said, Nothing happens until something moves. Nothing happens until something moves. And to me, that says, if you're not in motion and you're not moving, nothing's going to happen. So I like to set goals for myself that I don't know if I can accomplish them. And then what I do is so, for example, with the book Rich Woman yes. I set a deadline on when the book we set a deadline on when the book was going to launch, and then everything from there went backwards. And so I said, okay, I agree to that. That means I got to get the book written by this time. I got to get this done. I got to get this done. And I also have people around me who are counting on me to deliver. So that's one of my keys for a goal. I set a goal, I set a deadline, and then I have people that are counting on me, so I don't want to let them know.

[00:46:58]
Speaker 2: Wow. So it's not just your own responsibility, but also your responsibility to others.

[00:47:04]
Speaker 3: Yes. And in order to be successful, you've got to have a good team of people. And the most number one factor for me and I learned this the hard way is I only want to be around people and deal with people who I trust, and that's huge. So, for example, Richard and Veronica success resources. We've known each other for 22 years. I trust them explicitly, but I only want to deal with people I trust. Too many people are only in it for the money. So if your goal we talk about goals. If your goal is to make money, if that's the goal, if you're starting a business and the goal of your business is to make money, chances are you're not going to make it because that goal is not strong enough. When you hit the obstacles, when you have the setbacks, when you have the negative responses, when you have all of the problems that will come from being a business owner, if your whole goal is just to make money not strong enough, you've got to have a real strong reason why you're in business. What's your purpose? What's the bigger picture? What is it for you that's going to keep you going through that adversity?

[00:48:17]
Speaker 3: That's key?

[00:48:19]
Speaker 2: Wow. So much. Thank you. Kim, thanks so much for sharing with us so much of your wisdom today. I really enjoyed it. I really enjoyed the conversation with you. And I really look forward to seeing you here in Singapore as well.

[00:48:35]
Speaker 3: I love Singapore. It's such a great spot, and the people there are fabulous. We always have a good time. And the reason we do a women only event is because we want to create a very safe, sacred place where women can share and be open and maybe talk about things that other times I wouldn't talk about. So it becomes a very intimate environment and very powerful, too.

[00:49:00]
Speaker 2: Do take action. Wait no further. Because you need to step out of your comfort zone and go invest in your financial future. Be a Rich Woman.

[00:49:13]
Speaker 3: It's time for you to invest in yourself.

[00:49:15]
Speaker 2: Yes. All right. So thank you, guys. Thank you and take care. Bye bye.

[00:49:21]
Speaker 3: Bye bye.

[00:49:23]
Speaker 1: Thank you for joining me today. I'm so honored to have you here. Making more money in your business doesn't have to be stressful, time consuming, or difficult. Small changes can make a big difference. If you love this episode and you want more tools like this using your business, your team and your clients, visit our website at soulrichwoman.com, S-O-U-L-R-I-C-H-W-O-M-A-N.com. Sending you my love and speak to you soon.