Rich Dad Coaching Interview Notes by richter2711


									Rich Dad Coaching Interview Notes: 1. What are your goals? a. Six Months: i. Financial 1. I will have 6 months of savings in the bank for the use in emergencies only. This comes to about $3600. 2. I will have my first rental property. At this point I haven’t decided what type of property but it will most likely be a 2 bed room / 3 bath single family home, or a condo. I want the ROI to be at least 10-20% before tax benefits. 3. I will have my team advisors chosen. Consisting of at least an accountant, real-estate agent, and a lawyer. Also possibly consisting of a mortgage broker, insurance agent, appraiser, inspector, handyman, and a book keeper. Who is on my team will depend largely where I am on my second goal, and what I find out I need to achieve my second goal. ii. Personal 1. I will no longer allow fear to dictate the choices I have or prevent me from getting what I want. 2. I will no longer make excuses for my deficiencies. I don’t believe I am living up to my full potential because I often find excuses for why I haven’t done something to my best ability. 3. I would like to spend more time with my family. My parents dedicated a major portion of their life to me and I have become somewhat disassociated with them. 4. I would like to be on the dating scene more. I currently let my fear of failure prevent me from even trying. 5. I will have decided what my major will be. b. One year: i. Financial 1. I will have three rental properties each with an ROI of 1020% before tax benefits. ii. Personal 1. I will have completed at least 12 more credits toward my major. c. Two Years: i. Financial 1. I will have 5 rental properties each with ROI of 10–20% before tax benefits. ii. Personal 1. I will have completed at least 12 more credits toward my major. 2. What is the big dream? a. First, it is to be financially free.





b. I want to be the ultimate investor – to sell the shares of my own public company. c. I want to share what I have learned with others. d. I want enough money to buy whatever I want and not have to worry about how I can afford it. e. I want to support my family and my parents as they age. f. I want to travel. What does being financial independence mean to me? a. Primarily it means having a passive income greater than my expenses, so that I could quit working and live off my passive income indefinitely. b. If wealth is how long you can live without working, then being financial independent is the ultimate expression of wealth. c. More importantly by the time I reach it I will have dramatically increased my financial IQ and be thinking like the rich. The transformation of my mind I expect is just as important as the money. What are my personal brick walls? a. I have a problem with do-dads. For example, I love to eat out and it has caused me to miss my fanatical goals in the past. b. My friends sometimes prove to be a hindrance to me and meeting my goals. They don’t do anything overt, but there lack of concern for there future, and doubt in my abilities tends to rub off. c. Primarily, I let my fear dictate a lot of my choices, and I allow myself to make excuses for my shortcomings and fail to make changes. How would a coach help? a. It always helps to have someone who is like minded to help hold yourself accountable. Someone who has had to make the same choices and occasionally remind you of your goals, both personal and fanatical and that you aren’t where you should be. b. It’s good to have someone who knows what questions to ask. Like a coach in any sport they can tell you how it’s done, but you have to do it yourself. c. It’s good to have some one who can point you in the right direction. Why I would make a good candidate? a. First, because I want to learn, and I want to do what it takes to be financially free and improve my financial IQ. b. Because I am so young I am like a clean slate, or fresh clay. I lots of time to learn and don’t have to battle my past accomplish my goals. c. I want to share everything I learn. I look around at my friends and family, and see that if they don’t change they may never get out of the rat race and never stop working to make someone else rich. I work for a bank in collections, and see every day the trouble people get into with bad debt because they have no idea what they are getting into, no one has thought them, and now they are being held responsible.

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