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Monday, 31 July 2017
Friday, 28 July 2017
NOT HAVING ENOUGH MONEY EXPERIMENT - FAITH IN HUMANITY RESTORED
Interesting experiment when people don't have enough money. What do you think?
Wednesday, 26 July 2017
What if money was no object? Every person on the planet should watch thi...
What do you love doing??
Monday, 24 July 2017
So You Think You Have No Money to Start Investing
It may seem like a silly question, but I'm serious. If you're not saving any money at all, then you need to start now. When you're saving money you're taking action, and moving forward towards your goal of investing. That's the first step. I challenge you to start saving money now - as much as you can afford, but aim for 10% of your income. This sort of regular commitment will help instill the mindset of control over your finances that you need.
Now - on to the more immediate concerns of raising the required money to start your investment career. Have you given any thought as to what your strategy is going to be? You need to decide that, which will in turn give you an indication of what amount of money you need to look at starting with. You may need more, or less - depending on your intended investment strategy. About that money...
- have a garage/yard sale - get rid of unwanted and unused items. You'll be surprised at the amount and value of the junk we all accumulate! It's possible to make some decent money by selling up unused bikes and furniture, not to mention the toys and clothes that the kids have grown out of.
- If you live in a house you're repaying a mortgage on - you're ahead of the pack. Why not do a few things to spruce the place up and have it revalued? You'll be able to access the equity you've developed in your home to raise extra funds to start your investment career. It's a good way to make all your hard work paying the mortgage work for you - essentially giving you great access to comparatively ongoing low interest rates
- If you haven't bought real estate, and can't access equity there - look elsewhere. What about your parents, your extended family... Obviously I wouldn't recommend that you approach anyone with that idea until you've formulated a carefully planned strategy in conjunction with clearly set out goals.
- Partner up! There's no harm in joining forces with a like-minded business partner. It is important to realise that when you join forces with someone you pool resources and profits, as well as losses. An investing partnership can allow for more thorough preparation and analysis, but I'd suggest that clear communication and absolute transparency is a must in a partnership scenario.
Saturday, 22 July 2017
Live on a Beach and eat mangos!
1. Mindset
You don't have to wait until you're retired, you can travel and enjoy life anyway you chose now if you put a little planning into place and stay focused on your goals. It takes less money than you think to start enjoying the life you desire. Dream big and believe that can change your life.
2. Goals
Set clear goals with a deadline.Just setting a goal puts you ahead of the crowd. Write down your passions, what you like to do and what you are good at. How you achieve your goals may change over time, that's life.
3. Time and Productivity
Time is not a renewable resource. How are your spending your time?
Track how you are spending your time. You can use a calendar or excel spreadsheet to track how your activities. Figure out what you're wasting time on and start doing activities that help you achieve your goals.
Create a vision of how you would ideally spend your time for a day, week or month.
Have fun with this exercise by writing it down and be as detailed as possible.
4. Money and Finances
Stop buying things you don't need- If you want to live a location independent lifestyle you must get control of your spending. Think about all the things you spend money on that you really don't need. Do you really need the latest smartphone, flat screen TV or $6 cups of coffee?
5. Track your expenses
Write down everything you spend money on for a month. Create a budget after tracking your expenses for a month figure out where you can cut back on your spending. Create a budget for your monthly living needs, long and short term saving, retirement, and money to splurge every once in a while. Living expenses should be 50-60% of net, all other categories should be at least 10% of net each.
6. Get out of debt
Pay off the balances with the highest interest rate first, when they are paid off add that money to the minimum payment of the next balance and repeat until your debt load is more manageable.
7. Optimize your accounts
Set up bank accounts that pay you interest, get rid of high interest credit cards, choose credit cards that give you awards or some other type of incentive.
8. Start an emergency fund
Once you have your financial situation in order try to put away a set amount of money every time you get paid. Strive to have at least six months living expenses in the bank for emergencies.
Making the decision to become a lifestyle entrepreneur can be a scary and adventurous path to follow. To make the transition from being a cubicle drone to a world-traveling mobile business owner there are a few things to consider and vital steps you must take to make the journey a little easier. Working on your mindset to change your thinking is the first and biggest step.
Then you will be well on your way to creating and living the lifestyle you desire, a lifestyle by design rather than a mundane template lifestyle most people accept without question.
Article Source: http://EzineArticles.com/expert/Sid_L_Owsley/1517674
Monday, 17 July 2017
How to Get Rich with Billionaire Mindset
This weeks theme is 'Building for your future'.
Watch the clip below to for info on how to focus on your passion and love what you do. Have a vision to serve as many people as possible.
Watch the clip below to for info on how to focus on your passion and love what you do. Have a vision to serve as many people as possible.
Sunday, 16 July 2017
Thursday, 6 July 2017
Tony Robbins 7 Simple Steps to Financial Freedom - Lewis Howes
This is so great... we love the message that the psychological shift is important to work on ... work on your money mind guys ....it's the gateway to success...
Monday, 3 July 2017
Sorry to start the month with such a negative message but we feel this needs to be said because you need to work out how you can take action and make your story different ... you need to take action to create a passive income and your own financial freedom! Here's why!
With real incomes falling at the rate of 2 to 3% a year, food and fuel costs going up at an unprecedented rate and with many facing the prospect of closing businesses or redundancy, the prevailing mood in middle England is one of growing despair and uncertainty.
Meanwhile billionaires and venture capitalists are celebrating budget proposals to help them avoid paying even more tax than ever. The rich are getting richer and not paying any taxes, while the middle classes are getting poorer as basic costs are rising. The same economic conditions prevailed prior to the French revolution in 1789.
The real losers are small businessmen who bought into the Thatcherite dream of entrepreneurial Britain. Many have been successfully running small businesses for a number of years but were caught out by the unexpected and unanticipated credit crunch in 2008. Having mortgaged homes to finance expensive start-ups, they now find themselves with the double whammy of losing livelihoods and their homes at the same time. Labour, during their time in government, did nothing to protect or forewarn these budding entrepreneurs.
The only people who will make money from the present economic situation are the bankers and the venture capitalists, neither of whom are interested in creating new long-lasting jobs but look only for ways of making monstrous, short-term profits, usually by investing in unprofitable firms and turning them around by laying off staff. Far from mopping up lost jobs from the public sector, the chances are that private sector speculation over the next few years will only add to the unemployment figures. We have been there before.
And if middle England is facing a squeeze, what will happen to those already on the bread line and struggling to find work and to remain in rented property? As benefits are cut, destitution will be the only alternative for many. Homelessness is likely to increase as unemployment approaches record highs.
The situation is dire enough now but likely to get even worse once Tory cuts take effect over the next couple of years. The maxim of past Tory governments has always been to dish out the bad stuff early on in the term and hope for a recovery before the next election. But the best this government can hope for is that the country does not go into a double dip. If it does, it will effectively consign the Tories to another generation in opposition and wipe out their Liberal coalition partners altogether. To some extent it will be a deserved fate. They have ignored warnings from the opposition party and the rallying cry of almost half a million people who turned up to protest in Central London on Saturday, who fear that deficit cuts will choke off the recovery. Experts on the Panorama programme confirmed that far from "all of us being in it together" all the evidence suggests that the poorer half of the nation is paying for the mistakes made by wealthy banks and speculators during the subprime debacle. It is a travesty that in the 21st century a nation of honest, hardworking people who would give up their lives for their country should be so humiliated and mistreated by the powers that be.
With real incomes falling at the rate of 2 to 3% a year, food and fuel costs going up at an unprecedented rate and with many facing the prospect of closing businesses or redundancy, the prevailing mood in middle England is one of growing despair and uncertainty.
Meanwhile billionaires and venture capitalists are celebrating budget proposals to help them avoid paying even more tax than ever. The rich are getting richer and not paying any taxes, while the middle classes are getting poorer as basic costs are rising. The same economic conditions prevailed prior to the French revolution in 1789.
The real losers are small businessmen who bought into the Thatcherite dream of entrepreneurial Britain. Many have been successfully running small businesses for a number of years but were caught out by the unexpected and unanticipated credit crunch in 2008. Having mortgaged homes to finance expensive start-ups, they now find themselves with the double whammy of losing livelihoods and their homes at the same time. Labour, during their time in government, did nothing to protect or forewarn these budding entrepreneurs.
The only people who will make money from the present economic situation are the bankers and the venture capitalists, neither of whom are interested in creating new long-lasting jobs but look only for ways of making monstrous, short-term profits, usually by investing in unprofitable firms and turning them around by laying off staff. Far from mopping up lost jobs from the public sector, the chances are that private sector speculation over the next few years will only add to the unemployment figures. We have been there before.
And if middle England is facing a squeeze, what will happen to those already on the bread line and struggling to find work and to remain in rented property? As benefits are cut, destitution will be the only alternative for many. Homelessness is likely to increase as unemployment approaches record highs.
The situation is dire enough now but likely to get even worse once Tory cuts take effect over the next couple of years. The maxim of past Tory governments has always been to dish out the bad stuff early on in the term and hope for a recovery before the next election. But the best this government can hope for is that the country does not go into a double dip. If it does, it will effectively consign the Tories to another generation in opposition and wipe out their Liberal coalition partners altogether. To some extent it will be a deserved fate. They have ignored warnings from the opposition party and the rallying cry of almost half a million people who turned up to protest in Central London on Saturday, who fear that deficit cuts will choke off the recovery. Experts on the Panorama programme confirmed that far from "all of us being in it together" all the evidence suggests that the poorer half of the nation is paying for the mistakes made by wealthy banks and speculators during the subprime debacle. It is a travesty that in the 21st century a nation of honest, hardworking people who would give up their lives for their country should be so humiliated and mistreated by the powers that be.
Article Source: http://EzineArticles.com/expert/Milton_Johanides/305682
Article Source: http://EzineArticles.com/6123190
Friday, 30 June 2017
How Much Money Do You Want?
It's a common daydream to wonder what it would be like to win the
lottery or to receive a large, unexpected inheritance. With a big wad
of cash, it seems, anything is possible. This doesn't have to be just a
daydream - you can make it happen for real. But the question "how much
money do you want?" is a trick question. Unless you collect money for
its artistic value, you don't really want money. You want what money
can buy.
For example, let's say you think you want $25,000 so you can buy a new car. Do you really want the 25 grand? No! You want the car! The same is true of retirement plans. Do you want 6 million one day? Great! What for? If it just sits in the account your entire life, grows, but is never used, it might as well have been just a daydream. If you want 6 million dollars in your pension one day, what you really want is to ensure a good standard of living for you and your loved ones well into your golden years.
Living is what it's all about. We want to live our lives. We want happiness. We want plentiful opportunities for our children and our children's children. We want vacations and spas and fine food and drink. We want freedom to do what we want when we want. Money is merely a means to an end. To get what we want, we must focus on feeling good about it and be grateful for it - as if we've already received it. We must have the blind faith that the Bible implies with the statement "Ask and ye shall receive." If what you want has a price tag associated with it, by all means take note of that and plan for that, but always keep your mind and heart focused on what you really want - which usually isn't money.
For example, let's say you think you want $25,000 so you can buy a new car. Do you really want the 25 grand? No! You want the car! The same is true of retirement plans. Do you want 6 million one day? Great! What for? If it just sits in the account your entire life, grows, but is never used, it might as well have been just a daydream. If you want 6 million dollars in your pension one day, what you really want is to ensure a good standard of living for you and your loved ones well into your golden years.
Living is what it's all about. We want to live our lives. We want happiness. We want plentiful opportunities for our children and our children's children. We want vacations and spas and fine food and drink. We want freedom to do what we want when we want. Money is merely a means to an end. To get what we want, we must focus on feeling good about it and be grateful for it - as if we've already received it. We must have the blind faith that the Bible implies with the statement "Ask and ye shall receive." If what you want has a price tag associated with it, by all means take note of that and plan for that, but always keep your mind and heart focused on what you really want - which usually isn't money.
Thursday, 29 June 2017
How to Determine How Much You Need For Retirement
Determining how much money you need to retire on can be a
daunting task. For you, retirement may be as many as 40 years away.
However, it's never too early to determine how much money you'll need to
retire. This may seem tricky to determine an amount you may need
decades away. However, if you follow this simple formula you should have
more than enough money to enjoy a comfortable carefree retirement.
The first thing you need to do is try to determine what your expenses will be in retirement. Do you plan on owning a home and will you have a mortgage? Or are you planning on renting so that you don't have to deal with maintenance? This can be tough, especially if you are younger and you have no idea where you will even be living in the next 40 years. However, if you are near retirement age you will probably have a better idea. Additionally, you should come up with an amount for basic necessities such as food, utilities, and insurance.
Next, you'll need to determine what kind of income you would like in retirement. A good rule of thumb is to have 80% of what your working salary was. You should consider whether you're an active person that plans to travel and participate in expensive activities. Or perhaps, you are someone that doesn't spend much and you are happy with low-cost hobbies such as gardening and painting.
Once you have an idea of your expenses and income needs the final task is to calculate how much you need to save. There are several online calculators that you can plug your numbers into that will give you the amount you need to save each month. When you're doing these calculations keep in mind that life spans are increasing at an accelerated rate. Many people in the near future will be living well into their 90s and there will be many that make it to 100. This longer lifespan means you will possibly need more money to retire.
Retirement planning doesn't have to be a stressful task. Just remember to determine how much money you would like to live on, factor in your expenses, and decide how much you need to put away each month. Don't get stressed out when it comes to retirement planning. Follow this advice and you should have plenty of money to make it through a great retirement. Hey maybe you'll even be able to retire early!
The first thing you need to do is try to determine what your expenses will be in retirement. Do you plan on owning a home and will you have a mortgage? Or are you planning on renting so that you don't have to deal with maintenance? This can be tough, especially if you are younger and you have no idea where you will even be living in the next 40 years. However, if you are near retirement age you will probably have a better idea. Additionally, you should come up with an amount for basic necessities such as food, utilities, and insurance.
Next, you'll need to determine what kind of income you would like in retirement. A good rule of thumb is to have 80% of what your working salary was. You should consider whether you're an active person that plans to travel and participate in expensive activities. Or perhaps, you are someone that doesn't spend much and you are happy with low-cost hobbies such as gardening and painting.
Once you have an idea of your expenses and income needs the final task is to calculate how much you need to save. There are several online calculators that you can plug your numbers into that will give you the amount you need to save each month. When you're doing these calculations keep in mind that life spans are increasing at an accelerated rate. Many people in the near future will be living well into their 90s and there will be many that make it to 100. This longer lifespan means you will possibly need more money to retire.
Retirement planning doesn't have to be a stressful task. Just remember to determine how much money you would like to live on, factor in your expenses, and decide how much you need to put away each month. Don't get stressed out when it comes to retirement planning. Follow this advice and you should have plenty of money to make it through a great retirement. Hey maybe you'll even be able to retire early!
This blog is dedicated to helping
investors achieve financial independence!
Article Source:
http://EzineArticles.com/expert/Andi_Sachs/516635
Tuesday, 27 June 2017
Financial Freedom Fighting
Making friends with your Limiting beliefs!
Let us tell you a little secret… Pam and I are constantly
afraid! We are constantly thinking we can’t do that. We are constantly thinking
we aren’t good enough. We are constantly thinking we don’t know how….
We’ve recently been talking about limiting beliefs and how
they can prevent action towards your ultimate goal… Financial Freedom. When Pam
and I discuss people on this journey we often refer to them (and us) as
Financial Freedom Fighters. The fight
refers to the battle we have with our limiting beliefs. Like any fight this can
be draining and the counter-productive, however, it can also be channelled to
make you stronger and help you achieve.
Today we are going to tell you a little more about our fight
with limiting beliefs and how we cope with the inner thoughts that have
potential to hold us back. First a little reminder of the top ten beliefs that
can get in the way of taking action!
- I’m too old
- I’m not smart enough
- I’m not educated enough
- I’m afraid of trying and failing
- You need money to make money
- I've already tried everything
- It's selfish of me to want more
- I don’t feel that I really deserve it
- I don't have the willpower
- All the good ones are taken
Pam and I started our Fight for Financial Freedom in 2013.
Pam was a stay at home mum with four almost grown-up kids and I was struggling
with debt and trying to keep my interior design business afloat since the Credit
Crunch. We both felt we were under achieving and we both had a desire to change
our situation. A passion or property seemed to hold the answers ….. however, this notion brought with it our first
limiting belief… ‘I’m not educated enough’.
This one was actually true! We had rightly identified that
neither of us knew enough about property investing to do it well. We didn’t let
that stop us though, instead we found an expert. Our expert is Gill Fielding
and luckily for us we both saw her speaking about property and discovered she
had a course. Thankfully we listened to the ‘I’m not educated enough’ message
in our heads and independently we signed up. This one decision changed our
lives in so many positive ways but there was still the rocky road of limiting
beliefs to travel.
The first huge benefit was that Pam and I met whilst doing
this course and became firm friends and property pals.
When we started out we both experienced huge trepidation.
The risks felt huge and we were suddenly dealing with an avalanche of limiting
beliefs! We were afraid of failing and thought you needed loads of money to get
into property. In particular I was scared of the maths and Pam was worried that
she wasn’t creative enough. Our confidence was also low in general; Pam had
been a stay at home mum for 20 years so she was feeling very rusty about re-joining
a work environment and my business and income had taken a hammering due to the
credit crunch, so I was dealing with feelings of failure. In addition, we had
both spent a chunk of money to do the course and were pressurising ourselves.
Panic was building and our will power was being tested.
For a while Pam and I were aware of each other but we didn’t
start working together for about 18 months. By this time, we thought we had
tried everything to get going and were getting frustrated that nothing seemed
to be happening, thoughts of failure were definitely beginning to ring true.
Then, one day Pam invited me to look at a property … she
said, ‘I need your brain Tania’… erm I’d never heard that before, nobody had
ever needed my cushion-stuffed, dyslexic brain! Anyway, I met up with her and
we had a fabulous time viewing a house, she talked about the numbers and I talked
about layout and décor. On my drive home I thought, ‘Wow, that was my best half
hour in property ever!’ We had both been taught about the concept of Joint
Venturing on our property course. When I got home I made a cup of tea (we are
in the UK after all) I pondered over the idea of asking Pam if she’d be
interested in JV’ing with me?... enter another avalanche of limiting beliefs,
just take your pick, my mind went into over drive…
Do you see a pattern here? Every time you do something new
there will be a limiting belief that
will try and pull you back! Luckily, I mentioned my thoughts to my husband and
with ease he told me to ask her… isn’t it funny how someone outside of our
internal dialogue, who can’t feel the physical tug of the limiting belief, can
help us be brave and take a leap of faith? The next second I was texting Pam,
‘I’m just wondering, would you like to JV with me?’ … moments later she texted
back ‘YES!’ and so our partnership begun.
From that day on we have been working together and can’t
quite believe what we have managed to create along the way. Very quickly we had
bought our first investment property together, working with other people we
gathered our know-how and their money to make it happen. Within 18 months we
had a £1.25million property portfolio and had started public speaking and created
a property networking group.
The limiting beliefs hounded us along the way. Of course
they did, we were doing something new! Thankfully, when one of us is down the
other is up and we battle through them together and with the help of our
families and friends. Talking of friends, the limiting beliefs are also
becoming our friends. You know the type, the ones that turn up uninvited and
give you hard to hear advice? Now, when we feel the tug of a limiting belief we
stop, listen for a while and then work out how we can prove it wrong!
We firmly believe you can take on your limiting beliefs,
challenge them and re-write the internal dialogue which is holding you back.
Making friends with your limiting beliefs can also help you find the solutions
to your problems and drive you forward to a new and brighter future.
Go get’em Financial Freedom Fighters!
Lots of love and support,
Tania & Pam
The Only 2 Money Rules You Need to Live By
That is why it is a good idea to follow these 2 rules. Why only 2? Because you only really need 2 money rules to live by and anyone can remember just 2 rules.
1. Spend less than you make
Can it get any simpler than this? In order to never find yourself in debt, you need to spend less than you make. This is true if you earn $25 000 or $250 000.
I always find it funny when I hear that a celebrity has been declared bankrupt. I'm not being jealous, mean nor spiteful but how can you be broke when you have earned in excess of $10 million? That is more than enough money to live in unrivalled luxury for the rest of their days!
Spending less doesn't have to be hard. It is easier than you might think:
I. Go through your bills
Go through every single one of your bills. Ask yourself, Do I really need this service? If you have cable but don't watch much TV then cancel it or at the very least choose a cheaper package. The same applies to your phone bill. Do you really need unlimited texts or minutes?
II. Track your spending
With the internet and smartphones being commonplace, it is now easier than ever to keep track of your spending, either with an app or online. Every time you pay for something, write down the amount you spent.
At the end of the month, analyse the list and ask yourself, Did this expense really add any joy or value to my life? This is a great way to find out where your spending is going to waste.
III. Change your routine
Every day, you undoubtedly do little things that cost money. You might get a cup of coffee from Starbucks; Why not find a cheaper coffee shop or cut down the amount you drink? You might eat out; Why not bring lunch from home a few times a week?
Saving as little as £1 a day for both of these things adds up to £730 a year; a substantial amount of money.
2. The 20% Rule
You might have heard of the 10% rule, where you put 10% of your paycheck into your savings account. That rule is simply bad advice. It only works if you start saving 10% of your pay check at 25 years old and never stop saving until you are 65. It leaves no room for buying houses, cars, putting the kids through college, vacations etc. Following the 10% rule can soon leave you broke.
The 20% rule is a far better rule to follow. For every pay check you receive, save 20% of it (If you are 40 and have never saved a dollar then you will obviously need to save more).
It is easy enough to do, even if you are like me and at times lack self discipline. You can have the amount automatically deducted from your pay check every month leaving no room for temptation to enter.
So there you have it, the only 2 money rules you need to live by in life. Money management comes down to spending less than you earn and saving enough money to become financially secure. That is all there is to it.
Monday, 26 June 2017
5 Ways to Deal With Stress and Anxiety of Being an Entrepreneur (Animated)
Can you manage your anxiety and uncertainty? Watch the clip below for 5 great ways to deal with any anxiety you may have.
Sunday, 25 June 2017
How To Become Wealthy - A 3 Step Formula
The most certain way to become wealthy is to model genuinely rich
people. When you struggle financially, it is almost natural to think of
the quickest and easiest way out of your financial mess, which often
makes you a potential victim of get rich quick scams.
If you often wonder whether one can get rich without cheating, stealing or winning the lottery, I have an answer for you and it is a big yes.
To become wealthy, you need discipline, determination, and very clear financial goals. You must also be ready to work hard at achieving your goals. Here are three steps that can lead you to a life of sustainable wealth:
Step 1 - Change your attitude towards wealthy people.
Most people from poor or middle class backgrounds have been programmed to believe that rich people are greedy dishonest crooks who take advantage of the poor. Now think about this for a moment. Is this not a perfect excuse for your subconscious mind to sabotage your wealth creation efforts? However much you may want to become wealthy, deep inside you would want to be known as a rich greedy crook that takes advantage of the poor.
Step 2 - Set financial goals and work steadily towards them.
You may have heard this before and you will tell me that you have New Year's resolutions that you have never gotten round to implementing. The goals I am talking about here are financial goals and by setting these, you are able to set the strategies that you will adopt to achieve them.
To become wealthy, you need to know specifically how much money you want to make and in a given time frame. For Example 'I want to make $500,000 in the next six months using all the tools at my disposal, selling widgets' is a clear goal. Once you set a goal like this, it is easy for you to measure your progress along the way.
Step 3 - Invest in your financial education.
How much money do you spend on books, seminars and workshops that teach you how to earn, save and invest your money? Any money you spend on these activities is certain to bring you a return at some point in time. Investing in your financial education can never be a waste of time and money.
For instance, you attend a real estate investment seminar that costs you $2,500. In this seminar you learn how to buy property without having to come up with a large down payment, and you take action based on your newly acquired knowledge.
Two months later, you own an investment property worth $250,000. Suddenly the $2,500 does not seem to be significant, given your return on investment.
Many people resist buying books because in their opinion, the only people getting rich are the authors. If you have such an attitude, you will never be able to move to the next level, because if you are not learning, you are not growing and if you are not growing, you are dying.
No one creates and sustains wealth by accident.
If you often wonder whether one can get rich without cheating, stealing or winning the lottery, I have an answer for you and it is a big yes.
To become wealthy, you need discipline, determination, and very clear financial goals. You must also be ready to work hard at achieving your goals. Here are three steps that can lead you to a life of sustainable wealth:
Step 1 - Change your attitude towards wealthy people.
Most people from poor or middle class backgrounds have been programmed to believe that rich people are greedy dishonest crooks who take advantage of the poor. Now think about this for a moment. Is this not a perfect excuse for your subconscious mind to sabotage your wealth creation efforts? However much you may want to become wealthy, deep inside you would want to be known as a rich greedy crook that takes advantage of the poor.
Step 2 - Set financial goals and work steadily towards them.
You may have heard this before and you will tell me that you have New Year's resolutions that you have never gotten round to implementing. The goals I am talking about here are financial goals and by setting these, you are able to set the strategies that you will adopt to achieve them.
To become wealthy, you need to know specifically how much money you want to make and in a given time frame. For Example 'I want to make $500,000 in the next six months using all the tools at my disposal, selling widgets' is a clear goal. Once you set a goal like this, it is easy for you to measure your progress along the way.
Step 3 - Invest in your financial education.
How much money do you spend on books, seminars and workshops that teach you how to earn, save and invest your money? Any money you spend on these activities is certain to bring you a return at some point in time. Investing in your financial education can never be a waste of time and money.
For instance, you attend a real estate investment seminar that costs you $2,500. In this seminar you learn how to buy property without having to come up with a large down payment, and you take action based on your newly acquired knowledge.
Two months later, you own an investment property worth $250,000. Suddenly the $2,500 does not seem to be significant, given your return on investment.
Many people resist buying books because in their opinion, the only people getting rich are the authors. If you have such an attitude, you will never be able to move to the next level, because if you are not learning, you are not growing and if you are not growing, you are dying.
No one creates and sustains wealth by accident.
Saturday, 24 June 2017
Friday, 23 June 2017
The New Rich: How to Become Wealthy
Today I want to talk to you a little bit about the new rich, and
how to become wealthy. I've been reading "The Four Hour Work Week" by
Timothy Ferris and who wouldn't like one of those? But let's talk about
the old rich first.
What is the old rich? When I was a kid my
family preached to me, "Grow up, get an education, become something
important. Be a doctor, be a lawyer, be an engineer, get a good job."
Notice that word "good" job.
The idea was that we were supposed to go to college, get a good education, and go to work for a company, probably work for the same company for 45 years, retire with a gold watch and a pension, and then be able to do the things that we want to do with our life. And of course, we're 65 years old by then, retirement age. Now we're going to go start doing the things we want to do? Hardly!
Well, the new rich has turned that upside down. The concept of how to become wealthy has shifted from owning things to having freedom of time to do life on our terms. That old model doesn't work anymore. You can't trust going to work for a company and having a retirement plan. I have a friend who was a 767 check pilot. He flew commercial jets for 45 years. He taught other pilots how to fly commercial jets, yet he had to go back to work and supplement his retirement because his retirement got slashed in half by the airline. You would have thought he would be safe. Nobody's safe!
The idea of the old rich was to accumulate things. How to become wealthy had to do more with things than with life experiences.
The new rich is about living our life on our terms, about doing the things we want to do when we want to do them, and that may mean renting an apartment for six months in Buenos Aires, and it may mean traveling around the United States with our kids. It can mean a variety of different things. But it doesn't, necessarily mean accumulating things. It means doing things. It means accumulating memories, accumulating experiences, and having the time to do the things we want to do and the money to do them.
Now me personally, I'm not interested in big fancy houses and big fancy cars. I love to travel. I love to scuba dive. I love to snow ski and water ski, sail, backpack, hike, camp. Those are the things that I love to do, and I want a portfolio of memories to look back on my life when I'm too old to do those things anymore and remember all the things that I did.
"The Four Hour Work Week", can help point the direction for how you can live your life on your terms, and become wealthy by living life to the fullest and you can begin to do it today. And you can do it from anywhere in the world because in today's day and time, we don't need an office. We don't need a cubicle. We need a computer and an Internet connection. Learn to be an entrepreneur. Take control of your life.
Remember your thoughts are your previews of your life's coming attraction. Dream big my friend and be wealthy and free.
The idea was that we were supposed to go to college, get a good education, and go to work for a company, probably work for the same company for 45 years, retire with a gold watch and a pension, and then be able to do the things that we want to do with our life. And of course, we're 65 years old by then, retirement age. Now we're going to go start doing the things we want to do? Hardly!
Well, the new rich has turned that upside down. The concept of how to become wealthy has shifted from owning things to having freedom of time to do life on our terms. That old model doesn't work anymore. You can't trust going to work for a company and having a retirement plan. I have a friend who was a 767 check pilot. He flew commercial jets for 45 years. He taught other pilots how to fly commercial jets, yet he had to go back to work and supplement his retirement because his retirement got slashed in half by the airline. You would have thought he would be safe. Nobody's safe!
The idea of the old rich was to accumulate things. How to become wealthy had to do more with things than with life experiences.
The new rich is about living our life on our terms, about doing the things we want to do when we want to do them, and that may mean renting an apartment for six months in Buenos Aires, and it may mean traveling around the United States with our kids. It can mean a variety of different things. But it doesn't, necessarily mean accumulating things. It means doing things. It means accumulating memories, accumulating experiences, and having the time to do the things we want to do and the money to do them.
Now me personally, I'm not interested in big fancy houses and big fancy cars. I love to travel. I love to scuba dive. I love to snow ski and water ski, sail, backpack, hike, camp. Those are the things that I love to do, and I want a portfolio of memories to look back on my life when I'm too old to do those things anymore and remember all the things that I did.
"The Four Hour Work Week", can help point the direction for how you can live your life on your terms, and become wealthy by living life to the fullest and you can begin to do it today. And you can do it from anywhere in the world because in today's day and time, we don't need an office. We don't need a cubicle. We need a computer and an Internet connection. Learn to be an entrepreneur. Take control of your life.
Remember your thoughts are your previews of your life's coming attraction. Dream big my friend and be wealthy and free.
Tuesday, 20 June 2017
How To Get Started
If you are sick and tired of the grind of the daily commute, hate suits or whatever your uniform may be, tired of making other people rich by building their business for them with your blood, sweat and tears and getting paid peanuts as a result, then this article will be for you. For there is very much a way to escape the rat race and the most savviest have figured it out and are using the answers to live life on their terms.
First of all let me define rat race. If you are in a position where you are trading time for money, and I don't care if you are working for minimum wage or you earn $2000 per hour, you are in the rat race. For your income to keep coming in, you need to keep working. If you go on holiday so does your income. What is needed is to find a method or methods of bringing in income that keeps on occurring whether you choose to work or not this is commonly referred to as passive income.
Here are a few points worth looking at in terms of your own life to see exactly what is needed for you to learn how to escape the rat race.
1) Evaluate spending habits. - This is the very first thing you should be doing before you even consider finding passive income producing vehicles. Look where money is being wasted and make a decision to life as frugally as you can. You will need the extra money to put towards your investments. Ask yourself every time you reach in to your wallet or purse "do I need this".
2) Work out your dream lifestyle cost wise- Sit down and dream up your dream life. Where would you live, what car would you drive, what would you wear, what would you do on a day to day basis, how many holidays per year would you have. Then figure out a cost to it all, what is the mortgage payment on that house, the payment on that car, how much do the holidays cost, how much is your golf or health club membership, how much do you want to spend shopping per day. This will then give you a monthly figure that you need to be producing.
3) Start an entrepreneurial venture- This is probably the biggest key for so many to learn how to escape the rat race, but one so many get wrong. They start a business venture and all they really do is buy a job. By that I mean they have to work twice as hard on a business because it is their business. They can't leave the business or it will stop producing. Look to create something or get involved with something that will generate passive income, income that comes in if you work or not. Network marketing is an example of this but is not necessarily the right road for everybody. Rental properties or dividends from corporate companies you have invested in are another example, or royalties on a product you have created.
4) Don't work for money, work for time- Always bear that in mind, can you pay someone else to do it for you. Don't get caught up in things that don't really matter. The new rich have discovered that time to do what they want to do when they want to do it is what really matters the most.
5) Have money work for you, your cash flow buys more assets. This is really key; when you start making profits or generating additional income, the temptation is to rush straight out and splurge on a fancy car or holiday, etc. Just wait a little longer, delayed gratification never hurt anyone. Start to reinvest some of those profits back into other cash flowing producing assets, eg: stocks, bonds or property, or even another business. This is how you create real wealth.
Monday, 19 June 2017
Sunday, 18 June 2017
3 Signs That You Will Become Rich One Day
This clip is really interesting. It talks about the 3 signs that you will one day become rich. How many of them do you implement now?
1. Speed of implementation of new ideas
2. Your ability to take action when you don't feel sure.
3. How much you value your time - make every second count towards your dream.
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