Robert Kiyosaki: The No. 1 Asset Anyone Can Afford

Above, a 2023 American Silver Eagle. Photo by Armand Vaquer.

There are a number of assests one can invest in. 

But there is one asset one can invest in and it is one that anyone can afford. According to Robert Kiyosaki, that asset is silver.

From GoBankingRates:

Robert Kiyosaki’s “Rich Dad” financial empire is based on changing people’s beliefs and attitudes toward saving and investing.

While most Americans pour their investment money into stocks and bonds, Kiyosaki says they overlook the one asset that everyone can afford and that offers the best financial protection going forward. For Kiyosaki, that asset is silver.

The financial personality conducted an interview with blogger, SilverSlayer on “The Rich Dad Channel,” discussing this very topic. Here are the highlights, along with a look at how you can incorporate silver into your own portfolio. 

To read more, go here. 

Where To Buy Gold and Silver Coins or Bars and Red Flags

Above, coin scam ad from Facebook.

These days, just about every line of business and merchandising has their share of scammers.

A year ago, a couple of friends and I purchased some supposedly silver coins from an ad on Facebook. I thought that the prices of the coins were "too good to be true," but I took a chance and bought a couple.

Sure enough, they were counterfeit. They were not silver as they were magnetic. Silver is not a magnetic metal. I notified Facebook, the police and the Anti-Counterfeiting Educational Foundation (ACEF) along with my credit card company. The credit card company reversed the charge and the police now possess the coins. The scam originated from China.

I now only buy coins and bullion from dealers I trust.

GOBankingRates has an article on "red flags" to look out for when buying gold and silver coins or bars.

They begin it with:

Although coin collecting is intended to be a fun, interesting and potentially lucrative hobby, it’s also a big business — and like any form of trade, there’s always someone out there who’ll try to scam you. A recent report from Transparency Market Research estimated the value of the global coin collection market at $8.7 billion in 2022 and projected that it could surpass $20 billion by 2031.

With all that money at stake, you can be sure that scammers and shady dealers are already figuring out new ways to bilk you out of your money. Thousands of consumers fall victim to rare coin investment schemes every year, according to the Florida Attorney General’s office, and it’s “not uncommon” for individual victims of coin scams to lose more than $100,000 in a single transaction.

Amateur coin collectors are especially vulnerable to scams because they lack the expertise to determine whether the coin being sold or promoted is legitimate. In fact, as the Florida Attorney General’s office noted, few consumers ever profit from investing in rare coins because they “do not know enough information” to make smart investment decisions.

Your chances of being scammed increase when you are dealing in gold and silver coins or bars because those precious metals hold so much potential value — and scam artists know it.

To read more, go here.

Kiyosaki: Silver Biggest Investment Bargain Now

Above, former President Donald Trump and Robert Kiyosaki.

"Rich Dad, Poor Dad" author Robert Kiyosaki is not optimistic about the economy in the months to come.

He contends that "America is broke" and says that silver is the biggest investment bargain right now.

From GoBankingRates:

Robert Kiyosaki, author of the bestselling finance book “Rich Dad, Poor Dad,” recently shared a post on X, formerly known as Twitter, touting silver as a solid investment right now. He called it the “2nd most used commodity after oil” and pointed out that it’s currently trading 50% below its all time high.

He added, “Silver has been money for centuries.” Rather than investing in fiat money, which Kiyosaki called “counterfeit fake dollars,” investing in commodities may provide a hedge against inflation and the whims of the stock market.

Plus, silver has an affordable entry point, since you can invest in silver coins, bullion, jewelry or ETFs that track silver trends. The ETF iShares Silver Trust sells for just over $22 right now, Benzinga recently reported. Silver is selling for roughly $24 an ounce.  

To read more, go here. 

Competing Bills In New Mexico To End Social Security Income Taxes

Above, the New Mexico State Capitol, the Roundhouse. Photo by Armand Vaquer.

There are competing bills in the New Mexico state legislature that would do away with income taxes on Social Security in the current session.

GoBankingRates has an article on these bills.

They start it with:

The battle over Social Security income taxes is playing out in the Land of Enchantment, as lawmakers in New Mexico consider doing away with the state’s taxes on Social Security benefits.

In New Mexico, personal income taxes apply to Social Security benefits on all but lower-income residents, U.S. News & World Report noted. Individuals earning up to $25,000 and joint tax filers earning up to $32,000 get a full exemption.

But legislators in the state have introduced competing bills to end the tax on Social Security benefits. Gov. Lujan Grisham last week threw her weight behind a bill from state Sen. Michael Padilla to enact a full and immediate tax exemption for Social Security income.

A separate bill from Sens. Bill Tallman and Martin Hickey would end taxes on Social Security income for everyone except higher-income households. A third bill, backed by gubernatorial candidate Rep. Rebecca Dow, would phase out state taxes on Social Security income gradually between 2022 and 2026.

New Mexico is one of 13 states that have some kind of tax on Social Security benefits, KRQE reported, citing comments from Dow. Critics say the tax hurts the state’s ability to attract more retirees, which is one reason there is bipartisan support to get rid of it.

It appears likely that one of these bills will pass and be signed by the governor. 

What would really help seniors is reducing or eliminating property taxes.

To read more, go here. 

Cut Costs On Your RV Vacation Trip

Above, The Beast at the Elk City, Oklahoma KOA. Photo by Armand Vaquer.

The pandemic has changed the way people travel, maybe for good. 

The biggest change is that people are rediscovering road trips in recreational vehicles. 2020 saw record numbers in RV sales and rentals. Many are first-time buyers and renters.

Many people new to RV travel are unaware that there are ways to saving money while traveling. GOBankingRates has six "simple ways" to cut costs on RV trips.

They begin with:

Certain things have become synonymous with the coronavirus pandemic: Sourdough bread, Zoom calls, remote learning. In terms of pandemic travel, it’s the RV trip.

According to a report last month from the RV Industry Association, 2020 was on par with the third-best year on record for RV sales (2017), despite a two-month industry shutdown. The report projects that 2021 could break the 2017 record of 502,582 units shipped — though it also notes that this surge is also part of a longer-term trend of solid growth over the last four decades. 

“RVing is the perfect way to travel during a pandemic,” said Kelly Beasley, co-founder of Camp Addict, a website dedicated to informing RV consumers. “You are self-sustained. You can choose to have as little interaction with the public as you can get away with. You’re bypassing airplanes, trains, buses, cruise ships, etc. It’s your own private little hotel room on wheels.

Whether you’re a seasoned road warrior or just beginning to get your wheels dirty, check out these tips from RV travel experts for keeping your costs low the next time you take your private hotel out on the road.

To read more, go here.