Personal Finance Quotes
Professional investors do two things. One is to focus only on great investments. The second is to hedge. [2008] - Robert T. Kiyosaki
Having control over these three components--good partners, good financing, and good management--I am more willing to use debt as leverage. [2008] - Robert T. Kiyosaki
Generally a person who invests for capital gains is investing on an opinion. A cash flow investor invests for facts. [2008] - Robert T. Kiyosaki
Gold is priced in international markets. Real estate is priced in a local market. [2008] - Robert T. Kiyosaki
The less liquid an investment, the more tread information you need. [2008] - Robert T. Kiyosaki
Commodities such as gold, oil, silver, and land provided real wealth in the Industrial Age. But in the Information Age, these commodities themselves do not make you rich. Rather, it is the information you have about those commodities. [2008] - Robert T. Kiyosaki
Changing investments from interest earning investments to dividend earning investments gives us the greatest planning opportunities. And it is also the easiest. How can you do it? By buying preferred shares, or by investing in an investment fund that holds preferred shares. People, who have always been comfortable depositing money with banks in exchange for interest, may now consider purchasing bank shares instead. This way you can earn a piece of the billion dollar profits earned each year by Canadian banks. [2007] - David M. Voth
Tax planning tips: 1) Deduct all business and invest losses. 2) Write off your fines, tickets, levies, and penalties. 3) Deduct fees paid for advice. You are entitled to deduct fees paid for investment and tax planning advice. And if you pay someone to prepare your tax returns that is deductible too. [2007] - David M. Voth
Once the exclusive domain of the super-rich - it used to cost a fortune just in legal fees - offshore investing in our global economy is now available to people with as little as $10,000 or more to invest. If the assets are in an account owned by an international business company (IBC), they are not your personal assets. Your creditors can sue you but they can't get the assets because legally they don't belong to you, they belong to the offshore company. [2007] - David M. Voth
Offshore financial centers such as Bahamas, Belize, Grand Cayman and the Channel Islands have NO INCOME TAX whatsoever. There are approximately 45 countries that do not have an income tax, capital gains tax, or estate tax! Other offshore financial centers, such as Panama and Costa Rica that do have an income tax, have either written legislation making their international business companies exempt from tax or they allow these companies to earn income TAX-FREE if it is earned outside of their country. [2007] - David M. Voth
If you feel that Revenue Canada would still consider you to be a resident, don't worry, now you know what they're looking for and you can change your current situation to become a non-resident. For example, you could place property in a trust to get it out of your name. [2007] - David M. Voth
An Insurance Tax Shelter is a plan issued by a life insurance company that allows you to deposit any amount of money and shelter all of the growth of the investment from income tax. Each insurance company gives their plan its own unique name. The plans are flexible, allowing you to vary the amount of your deposits and choose the type of investments, from GICs to investment fund indexes, with no restriction on foreign content. You can make direct withdrawals, TAX-FREE from the tax-sheltered account, up to the adjusted cost base (ACB) of the plan without incurring any tax. Simply put, the ACB is equal to your deposit less the cost of insurance. Under a special arrangement, you can leverage your account with a bank. This is the real benefit of an Insurance Tax Shelter! The leveraging of your account is what allows the plan to outperform other investment vehicles, because a loan is never taxable! [2007] - David M. Voth
Investing just 10% or 15% of your income will help you eventually amass a fortune. [2005] - Jack Canfield
When you are building multiple sources of income, do your best to focus on creating businesses that require very little time and money to start and operate. [2005] - Jack Canfield
The average self-made millionaire spends 20 to 30 hours per month thinking, studying, and planning finances. [2004] - Brian Tracy
It takes the average millionaire 22 years to accumulate a million dollars from the time he gets serious about his financial life. [2004] - Brian Tracy
The most expensive advice you can receive is free advice. It is advice from your friends and relatives who are not rich and have no plans on becoming rich. [2002] - Robert T. Kiyosaki
The rich invest in shares of a company when the company is still a private company. They will be investing in hot new biotech companies, genetic engineering companies, and new companies with the words system or network after their names. They will be investing in private placement memorandums, or limited partnerships, and other such investment vehicles, rather than mutual funds. [2002] - Robert T. Kiyosaki
The rich get richer because they are known as friends and family of people who have access to investments that are priced at wholesale level. To become a selling shareholder, you often need to be the founder or a friend or family member of the founder. [2002] - Robert T. Kiyosaki
I subscribe to these financial and business newsletters: a. Louis Rukeyser's Wall Street. b. Strategic Investment by James Dale Davidson and Lord Reesmogg. c. Audio-Tech Business Book Summaries. [2002] - Robert T. Kiyosaki