Rich Dad Life

All Items Sold!

2008-09-20T18:58:00.000+08:00

I just want to thank everyone who inquired and read my items! I sold them all already! thanks!!!

Items for Sale part 2!

2008-08-31T20:41:00.003+08:00

Here are my old stuff that I replace and I'm selling them for a dear cheap price here at grupo toyota

The Stereo and Speakers that my passive income bought!

2008-08-31T20:33:00.002+08:00

These are more stuff I've bought with my passive income and it really is a great feeling! More to come!!!

The seats and sidings that arcade bought

2008-08-19T19:44:00.002+08:00

As promised! The seats and the sidings that arcades bought!

Items for Sale!

2008-08-17T21:34:00.006+08:00

I bought some new stuff for my car with the passive income i'm getting.
Now I'm selling my old stuff for a very good bargain. Here are the pics!
Details of the sale are in this link: ITEMS FOR SALE part 1, part2

2008-06-28T22:42:00.007+08:00

Hey Guys! I've got my DTI Permit and the business is now known as MAX FUN GAMES CENTER or "MAX FUN GAMES" for short.

This is the logo for my PS2 Arcade Venture (Thanks to my cousin Justin who's a great multimedia artist/game developer/inborn artist)

The second picture is for the games list in the arcade... see the pics in action below...

2008-06-15T09:41:00.003+08:00

Hi guys! Here's a link for our advertisement in "sulit.com"

You'll really enjoy the ad. No wonder why we get so many inquiries! Cheers!

YOU provide the location,WE provide the unit.

We offer FREE rental of Ps2 Gaming Arcade

60/40 and profit sharing

60% sa amin, 40% sa inyo

remember: wala po kayong ilalabas na puhunan

SEE THE WHOLE AD HERE:

Free Accounting Software!

2008-05-27T20:02:00.000+08:00

Hi guys I just want you to know that we use this Accounting Software in our business.

It's great and it's free! Beat that!

PS2 Arcade... is it the answer?

2008-04-27T20:24:00.000+08:00

For 7 months I have been search on something to invest on that rich dad could consider an "ASSET" (something that earns you money and not just takes money away from you like a loaned car or mortgaged house), I think I have finally found an answer. Given my limited funds and minuscule salary will this be the one to boost and start my way to passive income?

What I'm talking about is this:

PS2 ARCADE MACHINE:

>PS2 >80 GB hard disk 40-50 games installed >2 orig controller >1 memory card >25 inch tv >coin slot >timer >box 1 peso for 3 mins of game play for two players already!
Terms: * Revenue is 60% for me and 40% goes to the owner of the place who is renting the machine * Electricity is the a cost of the owner of the place

So I bought one for around P20,000 and placed it in Taytay in one of my connections there (my dealer in my loading business)
Next week I'll be placing another three units in Taytay and Marikina also.

Given the facts:
- 1 peso per 3 minutes
- 60 minutes in 1 hour
- 60 minutes divided by 3 minutes = 20 pesos per hour
- 8 hours of operation per day (conservative estimate) = P160 per day per machine
- 30 days in a month = P160 pesos multiply by 30 days = P4800 a month. (fantastic for a P20,000 investment, if you own the place)
- 60% of P4800 = P2880 pretty good still if you have the unit rented out. That's still a 73% yearly ROI and you'd be able to get back your "DOG" (rich dad's term for money fetching you assets) in less than 10 months and send him out again to get you more money.
- Imagine if you had many of these strategically located and complete with a contract and permit from the government (which is a concern for the renter)
- If you don't have the capital I'll give you another option and it's in the form of as rich dad says, "LEVERAGE"
* P80,000 Bank Loan (Personal, ex:Chinatrust, BDO, Standard Charterred) for 3 years will @ 1.25 percent a month would only have a monthly amortization of approx P3,500
* P80,000 is good for 4 machines which will give you a monthly income of P2,880 X 4 machines = P11,520 less your loan payment per month of P3,500 = will give you a profit of P8,020 approx (of course you should factor seasonality especially when school starts) with that kind of profit you'd be able to pay back your loan in 10-11 months with minimal pre-termination fee or none at all.
*This is GOOD debt and not BAD debt.. please take note of that....

Welcome to my blog!

2008-04-27T20:02:00.000+08:00

Below is what I've stumbled onto for the past 6-7 months or so. I've read 4 out of around 6-8 books and counting and so far my FINANCIAL IQ have been increased by leaps.
In this blog I will document all my attempts on increasing my passive income. I welcome everyone to give comments and advice so that we all benefit, me and most of all the readers -- the blog's aim ultimately is to educate people what they should have been receiving in school since 1st grade.
Please take a quick glance at the summary below and for starters I really really recommend reading the first and revolutionary book RICH DAD POOR DAD... the one that started it all. I'd be very happy to provide readers a PDF copy. Just email me for details or leave comments here and request one alright?

I had two dads - a rich one and a poor one.

One dad was highly educated and intelligent; he had a Ph.D. and had completed four years of under-graduate work in less than two years. He then went to Stanford University, the University of Chicago, and Northwestern University to do his advanced studies. All on full, financial scholarships.

My other dad never finished the eighth grade. Both men were successful in their careers, working hard all their lives. Both earned substantial incomes.

Yet one dad struggled financially all his life and the other dad would become one of the richest men in Hawaii. One died leaving tens of millions of dollars to his family, charities, and his church. The other left a legacy of unpaid bills. Both men were strong, charismatic, and influential. Both men offered me advice, but they did not advise the same things.

Contrasting Points of View

Having two dads as advisors offered me the perspective of contrasting points of view: one of a rich man and one of a poor man. The problem was that my rich dad was not yet rich, and my poor dad not yet poor. Both were just starting out in their careers; both were struggling with money and families.

But, regardless of those facts, both had very different points of view on the subject of money.

One dad would say, "The love of money is the root of all evil." The other, "The lack of money is the root of all evil." Having two dads - and loving them both - forced me to think about, and ultimately choose, a way of thinking for myself.

I had to think about each dad's advice and, in doing so, gained valuable insights into the power and effect of one's thoughts on one's life. For example: My poor dad had a habit of saying, "I can't afford it." My rich dad forbade those words to be used. He insisted that I say, "How can I afford it?" One is a statement, the other a question. One lets you off the hook; the other forces you to think. My rich dad would explain that by automatically saying the words "I can't afford it" your brain stops working. By asking the question "How can I afford it?" your brain is put to work.

Excersise Your Mind

My rich dad did not mean 'buy everything you wanted.' He was, though, fanatical about exercising your mind – the most powerful computer in the world. My rich dad said: "My brain gets stronger every day because I exercise it. The stronger it gets, the more money I can make." He believed that automatically saying "I can't afford it" was a sign of mental laziness.

Although both dads worked hard, I noticed that my Poor Dad had a habit of putting his brain to sleep when it came to money matters. My Rich Dad, on the other hand, made a habit of exercising his brain. The long-term result was that one dad grew stronger financially and the other grew weaker.

Our Thoughts Shape Our Lives

Being a product of two strong dads allowed me the luxury of observing the effects that different thoughts have on one's life. I noticed that people really do shape their lives through their thoughts.

The power of our thoughts may never be measured or appreciated, but it became obvious to me as a young boy that there was value and power in being aware of my thoughts and how I expressed myself. I noticed that my poor dad was poor not because of the amount of money he earned – which was significant – but because of his thoughts and actions. As a young boy having two fathers I became acutely aware of being careful in deciding which thoughts I chose to adopt as my own and to whom should I listen – my rich dad or my poor dad?

At the age of nine I decided to listen to and learn from my rich dad about money. In doing so, I chose not to listen to my poor dad – my real dad – even though he was the one with all the college degrees.

Dad Differences

One of my dads is a multi-millionaire. The other is a poor man. Why? Very simply, it comes down to their respective attitudes toward money and life. Take a look at the differences... and think about where you fit...

Poor Dad vs. Rich Dad


	My Poor Dad Says		My Rich Dad Says

	"My house is an asset."		"My house is a liability."

	Rich dad says, "If you stop working today, an asset puts money in your pocket and a liability takes money from your pocket. Too often people call liabilities assets. It's important to know the difference between the two.

	"I can't afford it."		"How can I afford it?"

	The statement "I can't afford it" shuts down your thinking. By asking the right question, you mind opens up and looks for answers.

	"The reason I'm not rich is because I have you kids."		"The reason I must be rich is because I have you kids."

	"I'm not interested in money."		"Money is power."

	"When it comes to money, play it safe - don't take risks."		"Learn how to manage risk."

	"Pay myself last."		"Pay myself first."

	Rich Dad always took a percentage off the top of any income he earned. He put this money into an investment account that went toward purchasing his assets. Poor Dad spent all his money first and never had any remaining for investments.

	Believed that the company you worked for or the government should take care of your financial needs.		Believed in financial self-reliance and financial responsibility.

	Focused only on academic literacy.		Focused on financial literacy as well as academic literacy.

	Learned only the vocabulary of academia.		Learned the vocabulary of finance – "Your words are the most valuable tools you have."

	"I work for my money."		"My money works for me."

	Thought that making more money would solve his financial problem.		Knew that financial education was the answer to his financial problems: "It's not how much money you make that's important – it's how much money you keep and how long you keep it."

Understanding the difference in attitudes between rich dad and poor dad – is essential to taking the first steps to financial freedom.

For a comprehensive look at how to battle the Poor Dad mentality and adopt the Rich Dad state of mind, learn more about the tools we offer to help you on your journey to financial freedom.