More Robert Kiyosaki

Robert Kiyosaki is as entertaining a speaker as he is an author on financial literacy. I was enthralled to hear him live at a national training event in Baltimore this past weekend. Here are more of his remarks from that event.

Being poor is not so much about how much you make, but rather how much you spend. The more you make, the more taxes you will pay. The tax system is designed to take your money.

That's why Kiyosaki buys real estate. He wants to keep as much money as possible in his assets. The rich leverage and use debt to make millions and pay zero tax. Debt makes you rich. He has issues with the nationally-known financial advisers who recommend living a debt-free life.

Kiyosaki believes that the middle class is getting wiped out because their government lies to them through the schools. Today's public school education is based on the Industrial Age; it was designed to take farm kids to train them how to become employees.

Kiyosaki believes that massive unemployment is coming;and the stock market is coming down. He does not trust investment bankers and financial investors. Our success is costing us our country severely. In today's global economy, something as simple as shopping at Walmart sends our money overseas. 401K retirement plans are loaded with fees, and are designed to make Wall Street rich.

Kiyosaki believes that baby boomers will become the next baby bust generation. Most boomers will run out of money before they die. This is bad news for most people; good news for entrepreneurs like those in attendance at our training event in Baltimore because we are busy learning financial literacy that will set us free.

He outlines more details in his new book, Second Chance.

Tomorrow's blog will contain more Kiyosaki quotes on how school makes you stupid; and Thursday's blog will focus on Kiyosaki's thoughts for the business of the 21st century.

Happy Investing!

14 Ways to Avoid Capital Gains Tax

1.) Match Losses - Investors can realize losses to offset and cancel their gains for a particular year. 2.) Primary Residence Exclusion - Individuals can exclude up to $250,000 of capital gains from their primary residence ($500,000 for a married couple). 3.) Home Renovation - Sharp real estate agents and home renovators make their under-market investment purchases their primary residence...then flip the houses, selling for a better sales price but avoiding any tax on their gains via the primary residence exclusion. 4.) 1031 Exchange - You can avoid capital gains and depreciation taxes by rolling the proceeds of your sale into a similar type of investment within 180 days. 5.) Stock Exchange - Stock investors with highly appreciated securities can also do a like-kind exchange.

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6.) Exchange-Traded Funds - ETF's use stock exchanges to avoid triggering capital gains taxes when stocks move in or out of the index... 7.) Traditional IRA and 401k - If you are in the higher tax brackets during your working career, you can benefit from contributing to a traditional IRA or 401k. 8.) Roth IRA and 401k - Traditional accounts can postpone taxes to a more favorable year, but Roth accounts can avoid them altogether. 9.) Health Savings Accounts - HSA's are one of the few accounts where you can receive a tax deduction for contributing to them... 10.) Give Stocks to Family Members - If you are facing a high capital gains rate, you can give your highly appreciated securities to family members who are in lower brackets. 11.) Move to a lower tax bracket state - State taxes are added on to federal capital gains tax rates and vary depending on your location. 12.) Gift to Charity - Instead of giving cash to the charities you support, you can give appreciated stock. 13.) Buy and Hold - Many investors buy good index funds that never need to be sold. 14.) Wait Until You Die - Most people die holding highly appreciated investments. When you die, your heirs get a step up in cost basis and therefore pay no capital gains tax on a lifetime of growth. Happy Investing! Today's blog from www.Forbes.com courtesy of  DJ Vyzis, Sales Executive, Veristone Capital