First Round Table Meeting for the year 2009
(Robert Kiyosaki was not in attendance due to he is i New York with our President Mona Gambetta promoting his latest book "Rich Brother Rich Sister" due out today)
Number of Games played:
Rich Dad's Coaching - 1,300
Rich Dad's Education - 1,062
Rich Dad's Franchising - 1,956
2008 Highlight for Coaching:
1. Numbers going up
2. Importance of the game
3. Lessons of the game
4. Teaching other people to teach people to play the game
2008 Highlight for Education:
1. Increase in the numbers for the 3-Day Event
2. Branding
3. Messaging - economic conditions, etc
2008 Highlight for Rich Dad's:
1. The "I Am The Rich Dad Company" letter written by 6th Degree Kathy Heasley (Branding Company) - "Hope gets you no where, Why Hope when you can learn and take action, Take charge of your DREAMS"
Rhonda - Marketing Director
1. Solid Marketing Team (Brett, Sara, Ryan, and Scott) - working together as a team
2. Web site numbers have increased tremendously
3. Our 3-Day Event with Robert Kiyosaki "How To Predict The Future"
4. Holiday Sales has been huge
5. Going to introduce a new book Rd's Stories
6. Online book "The Fly"
Kim Kiysaki - Robert's wife 2008 Highlights:
1. Major house cleaning of the Rich Dad's Company
2. Lawsuit - major lessons and processes we learned
3. The new book "The Fly" online book
New word for 2009:
EVOLUTION
(Looking at the whole economic crises)
Kelly - Franchising 2008 Highlights:
1. Major one is the CASHFLOW Clubs world wide - importance of the clubs
2. Pushing out to the market, talking with the customers
NOW OUT WITH 2008 AND IN WITH THE NEW 2009
Discussion Article:
"Contemplatng the Boobs We Were" it was in the New York Times newspaper 1/4/09
Contemplating the Boobs We Were
By PETER APPLEBOME
Published: December 27, 2008
Yes, it’s been a miserable year.
Had Time waited a few days it might have decided to go with Bernard L. Madoff, the ultimate face of this annus horribilis, as its Person of the Year instead of Barack Obama.
But, when it comes to money, hope springs eternal. Just ask the financial magazines which are already full of advice about the better year to come. “Your Comeback Year — 2009,” announces Kiplinger’s Personal Finance. In Money it’s: “Get Your Money Back — A Six-Step Plan to Rebuild Your Savings.” BusinessWeek’s Investment Outlook promises: “Yes, Things Are Grim. But Here’s Your New Plan to Emerge Stronger.”
Maybe next year will be better. It can’t be much worse. But before we toss the latest unopened 401(k) statement into the trash, a year-end toast to us all — the boobs and easy marks who from time immemorial have mastered the art of buying high and selling low, investing in bubbles as transparent as an open window, making crashes and swindles as much a part of the human experience as love, vanity and bad breath.
“Insofar as there is a lesson in history,” said James Grant, editor of Grant’s Interest Rate Observer, “it’s that human beings are not very good with large sums of money, anything over $136.”
As we await a better 2009 we ask: Are we doomed forever to be the fleeced or is there anything we can learn form this latest round of financial catastrophe? In fact, there are plenty of lessons to be learned. So here’s a revolutionary idea: Maybe it’s time we even start thinking about ways to teach them.
All financial collapses have their own brand of pain. But this one cuts particularly deep because over the past few decades, without even quite knowing it, we went from a nation with a few financial choices to one with thousands, and we’re making decisions previous generations never faced — in I.R.A.’s, 401(k)’s, 529 plans and elsewhere. What’s the right asset allocation? Regular I.R.A. or Roth? When is it best to retire and when to begin withdrawing funds from retirement plans? Tell me again how that annuity is supposed to work? What’s the catch in that cheap adjustable-rate mortgage?
Back in 1972, Money magazine was a revolutionary idea, a money magazine for people who didn’t have much of it. Now the marketplace is full of people and publications offering advice, much of it self serving, some smart, some dumb. Were you lucky enough you might have happened upon David Lereah’s invaluable primer, “Why the Real Estate Boom Will Not Bust — And How You Can Profit From It” or Robert Zuccaro’s prescient book, “Dow, 30,000 by 2008 — Why It’s Different This Time.” There was plenty more where those came from.
Not all that long ago financial wisdom for the masses was Louis Rukeyser on “Wall Street Week” trading puns and market insight with buttoned-down Wall Street savants in that sedate living room on PBS. Now it’s Jim Cramer shouting, sweating and making loud animal noises in his financial carnival on CNBC. We’re all part of a 24/7 financial noise machine even if most of us don’t know the first thing about it.
Surely, there are different levels of financial ignorance and folly. People who took out loans they had no ability to pay based on the quaint notion that housing prices only went up didn’t make the same mistakes as Mr. Madoff’s investors, who had at least some reason to think they were doing something prudent and wise.
But can anyone doubt that the demands on people to make reasonably intelligent choices with their money has so far exceeded their wisdom to do it, that maybe we should at least try to figure out some way to close the gap? If many presumably sophisticated Madoff investors were ruined, what chance do the rest of us have?
Frederick E. Rowe Jr., a Dallas money manager, has a framed quote attributed to financier and investor Bernard Baruch near his desk.
It reads: “If you are ready and able to give up everything else, to study the whole history and background of the market and all the principal companies whose stocks are on the board as carefully as a medical student studies anatomy, to glue your nose at the tape at the opening of every day of the year and never take it off till night. If you can do all that and in addition you have the cool nerves of a great gambler, the sixth sense of a kind of clairvoyant, and the courage of a lion,” then you’ve got a chance.
That level of commitment may be a bit beyond most of us. But shouldn’t we be teaching more of this in high school and college? Shouldn’t every high school graduate at least know what compound interest can do for you as a saver and what it does to you as a borrower? Any college kid at some point gets lectures and required readings on the importance of diversity, academia’s favorite subject. Shouldn’t they graduate with a modicum of financial literacy as well?
“We’re taught that money is the root of all evil and that money can’t buy you love, but the nature of compound interest, that you have to have more money coming in than going out, is almost never taught,” Mr. Rowe said. “Students have to take math and foreign language and history, but you can graduate from every good school in the country without any exposure at all to how money works.”
One lesson of this year is that these days, no one, even the most financially secure, can afford to be stupid. Another might be that investing for the long term, can mean for a very, very long term.
It’s ugly out there. Better luck next year.
As the Rich Dad's Company we are in the right place at the right time. People are now listening to us and are following us including Donald Trump!!!!!!!
Bye guys!
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