Tuesday, December 31, 2013

How To Get Rich - Grow Your Dreams

Do you ever dream of what being wealthy would be like ?

Do you ever dream of specific things that you would like to have ?

Truth is, we all have dreams but it is how we focus on them that matters !

Dreams of Your Future Life

Dreams are something that nobody can ever take away from us. They are the inner workings of who we are and where and what we want to be. Many wealthy individuals today started out with nothing more than their personal dreams and desires.

No matter where you come from, your dreams and desires are just as important as anyone else. Never let anyone tell you otherwise. You and your future are what matter the most to you.

The first inner step of becoming successful and/or wealthy is to never let go of your strongest dreams and desires. You must keep feeling and living these dreams as if you were living them today. Make these dreams a part of your everyday life and your life will become full of passion for your desired future.

Divide and Grow    

Your dreams for the future can many times be divided into multiple steps or stages that can be focused on one at a time. As each step is achieved, you will get the feeling of satisfaction that you are now on your way to becoming closer to your final perceived end point.

What happens to your dreams along the way is that they tend to grow. As you become more confident because of what you have already done, your dreams will expand and grow. This is a natural consequence and should always be encouraged for all it's worth.

This is truly the way to become all you will ever want to be. Never stop dreaming no matter how many accomplishments you have made.

What To Do

Everyone has dreams. Most will do nothing with those dreams and then have a life full of envy of others. Do not let this be you. Focus on your dreams and never let go no matter how tough life may seem. Your dreams are the most important to you.

As you realize accomplishments throughout your life, keep growing your dreams. Never stop dreaming and expanding as life goes on. After all, if you stop dreaming, what is the purpose of life ?

As we say goodbye to the year 2013, we should start saying hello to our bigger and better dreams of tomorrow. Without these dreams, what kind of a future would the world ever have ?


Tuesday, December 24, 2013

How To Get Rich - Invest With A Conscience

Do you invest in companies that hurt other people, animals or the environment ?

Do you even know how your investments impact the world ?

Chances are if you're like most you don't have a clue !

Know What Your Money is Doing

Most people invest blindly in companies that they would not necessarily support if they knew how they operated. Investment recommendations are most often made solely on economics and have absolutely nothing to do with morals.

Unfortunately, the world operates solely on profit. Most of the time a company will put profits ahead of people, animals and the environment. The reason being, there is extreme pressure for a business to stay competitive in order to survive in this world's uncaring business environment.

It is therefore an investors' responsibility to dig deeply into a company's operations to explore their moral conscience. It is your responsibility as an investor to separate the good from the bad and the downright ugly. This information can sometimes be hard to find as companies will do whatever they can to hide negative practices. But you must strive to do what you can.

Why Invest With A Conscience

With the expanding of global communications, companies that exploit other individuals, animals or our fragile environment had better watch out. As people around the globe become more aware of a company's negative practices, a fire storm of bad publicity can erupt virtually overnight. This bad publicity has the ability to sink even the strongest of balance sheets in a very short period of time.

The future will undoubtedly see further expansion of global communications. This means that the power of the individual will become even stronger. It will be harder and harder for companies to hide from public scrutiny. It is also possible that even one disgruntled employee with inside information could potentially open the flood gates of criticism to the world.

If you are caught as an investor in a company with negative practices, you too could lose as your investment value could drop rapidly.

What To Do

Before investing in any company, make sure to do your homework. Dig as deep as you can to try and find any negative practices. If you find something and no action is being taken to clean up their act, don't invest.

Research all of your current investments as well to see if any negative practices can be uncovered. You will then truly know what your money is doing to impact the world.

Keep up to date with what your current investments are doing. Quite often a company's direction will change with new leadership or mandates. Any potential negatives that may come from these changes should be explored. Depending on the strength of this new direction, an investment decision may have to be made.

Your overall goal should be to never be invested in a company with negative practices. It may only be a matter of time before the scrutiny of the world will make their judgement.

As always, I welcome your comments and suggestions for future topics.

Tuesday, December 17, 2013

How To Get Rich - Understand the Bitcoin

Have you ever heard of the new Bitcoin currency ?

Do you think it would make a safe and secure investment ?

There are things you need to know before taking the plunge !

What Is The Bitcoin

The Bitcoin is basically a fairly new form of electronic currency that has no ties to the central bank of any country. It is being promoted as a way to eliminate foreign exchange charges when transferring funds between countries.

On the surface it is shown as a way to make purchases on line from any country without having to calculate currency conversion rates and bank charges etc. This does seem to be a very good idea for certain purchases and money transfers between countries etc. But is it safe and how much will it actually cost you in the end ?

Dangers of the Bitcoin

It seems that no one really knows who controls the Bitcoin market. Also, the value of the Bitcoin can fluctuate wildly and the reasons seem difficult to understand.

I looked at the terms and conditions of a company in my country that exchanges local currency for the Bitcoin. There were many warnings of absolutely no guarantees of any future value. Also, they could not guarantee that you would be able to buy and sell Bitcoins at any particular time. In addition, they clearly stated that you could potentially lose everything if you were to purchase Bitcoins.

I realize that legally they had to say all of these things to avoid potential legal problems. However, for me, it did not give me the warm cozy feeling that I like to have before investing my money.

What To Do  

Personally, I will not be investing in the Bitcoin any time too soon. On the surface, it seems like a great idea and sometime in the future this may indeed be the way the world will operate. But for now it is too new and not yet proven that it really works. Also, I am positive that Governments throughout the world will fight tooth and nail against the Bitcoin.

If you would like to dabble in the Bitcoin world, by all means give it a try. I would recommend however that if you do give it a try, do so on a very limited basis. Remember, this is currently a very speculative market and you could potentially lose everything.

For me, investing in the Bitcoin would be extremely speculative in nature. I prefer to invest in the many opportunities that exist that offer a history of steady growth and income. I prefer the warm cozy feeling.

Please Note : All of the above is strictly my personal opinion based on my limited research of the Bitcoin. You as a reader of this article are encouraged to do your own research on the Bitcoin and determine whether you feel it would be suitable for your circumstances.

As always, I welcome your comments and suggestions for future topics.

Tuesday, December 10, 2013

How To Get Rich - Learn Holiday Gift Giving Reality

Do you love buying great gifts for your loved ones over the holidays ?

Do you love spending time with your family and friends ?

Which of the above do you think is more important to you ?

Holiday Hoo Haw

It should be no surprise that the upcoming holiday season is big business for big business. It is the time of year that all investors watch to compare one retail store to another. It is the time of year that will either make or break any retail enterprise.

Whatever your beliefs are, the sad truth is that the holiday season has become all about making profits for the big retail corporations. For many individuals it has become all about buying the biggest and best gifts. These same individuals are even willing to go into huge debt to satisfy the craze.

Remember The Santa Grinch ? 

Last holiday season I wrote about the Santa Grinch which is basically someone who gives like Santa but saves like the Grinch. It is very possible to give thoughtful gifts without going into huge debt to do it. Many times the best gifts are not always associated with the price tag.

An old saying once said that it is the thought that counts, not the size of the gift. Perhaps there is still some truth to this old saying. The more thought you put into a gift, the more personalized it becomes. Giving should not be about rushing around trying to find the biggest and best gadget or gizmo. A gift should be personal.

Your Wealth and The Holidays

There are many things that you need to do and practice to become wealthy. One of these is to learn to control your output, or in other words your spending. The holiday season is one of the most challenging times of year for over spending. It is the time of year that can either make or break any financial plan, similar to the retailers as mentioned above.

If you plan to go into debt this holiday season, remember you will be giving to more than just your loved ones. You will be giving to the wealthy individuals that own the retail corporations. If you pay interest, you will also be giving to your wealthy bankers.

The advertising blitz will often make you feel you need to spend big to be appreciated by your loved ones. But do you think this is really true ? If it is, it should not be. We should all be appreciated for who we are, not by the size of our gifts. Advertising can be a very powerful psychological tool.

Holidays Should Be Happy For Everyone

Whatever your holiday spending plans may be, make sure you stay true to yourself and your family. Be the person you want to be for your loves ones, not the person someone else is saying you should be. The size of your heart is much more important than the size of your gift.

Remember to give generously of yourself to your loved ones this holiday season. But be careful not to give too much to the wealthy business owners and bankers.


Tuesday, December 3, 2013

How To Get Rich - Build Your Own Time Machine

How rich do you think you would be if you could travel back in time ?

Do you think you would be able to correct all your previous mistakes ?

Chances are things would probably be a lot worse than they are today !

Opportunities And Time

Most opportunities in life are very limited to a certain time frame. Once everyone catches on, the opportunity no longer exists. If everyone could travel back and forth freely in time there would no longer be any opportunities. This is because everyone would try to correct past mistakes. What an ultimate mess this could create !

It is a very good thing that time travel is something only in science fiction. I cannot imagine the endless paradoxes that people would create to better their own lives. Things are bad enough today when we can only travel in one direction at a fixed rate.

The reason that opportunities are created is that only a limited number of individuals are able to react to changing conditions through their gained knowledge and insight. These individuals work towards wealth creation via increased knowledge and experience. The rest are mere followers and generally get into the opportunity too late to really benefit.

You And Your Time Machine

As mentioned previously it is a very good thing that physical time travel is currently an idea expressed only through science fiction. But this does not mean that you cannot utilize your time, whether it be present or future, to better your own life. Your time machine currently works in one direction only at a fixed rate of change.

To build your current time machine to it's full potential, you must utilize your current time to it's full benefit. Use this machine to build your future wealth and to enrich your future life and the lives of all your future generations to come. Time is a very valuable tool, especially when we cannot physically go back and correct the past.

What To Do

Instead of wishing for something from science fiction to fix your problems, utilize what you are given today. Utilize the time that you now have to make a difference in your future life. Stop wasting your valuable time on activities that do not give you pleasure today. Stop wasting your time on activities that do not contribute to your future growth. Stop wasting your time punishing yourself for past mistakes which you cannot go back and fix.

Realize that your personal time machine works in one direction only. It will only allow you to fix any problems today to help in your growth of tomorrow. The past is gone and unreachable, at least for now until if and when traveling to the past may be an option.

As always, I welcome your comments and suggestions for future topics.

Tuesday, November 26, 2013

How To Get Rich - Visualize The Future

Do you think anyone can really predict what the future will be ?

Do you think the wealthy have an inside track on future trends ?

The truth is, common sense can go a long way to predicting future probabilities !

Future Trend Analysis 

Future trend analysis is basically sitting down and trying to visualize what the future may be like. In order to do this, you first must be current and up to date with the way the world is today. In order to keep current, you must get out and observe as much as you can about your surroundings and what other people are doing.

Big corporations and other wealthy individuals spend a lot of time and money researching what the future may be like. The average individual however, does not have the time nor the resources to compete in this way. But in this modern age, the average individual does still have the ability to do their own research in a much more cost effective way. They can use the power of the internet to research almost anything they want and for free.

Tools To See Into The Future

It's true no one can really see into the future. However, the larger your sighting area the more you will learn about yours and other cultures around the world. There are a couple of good sites that you can get a free subscription to that will open your eyes to what is currently being developed and marketed throughout the world.

The first is a site called Springwise.com which sends you out a weekly email on new entrepreneurial ideas from throughout the world. A must weekly read for keeping up to date with new ideas.

The second is a site called Trendwatching.com which will send you regular emails regarding newly developing consumer trends and business ideas throughout the world. Also a must read for keeping up to date.

Make these two tools a regular part of your ongoing routine and you will quickly see how much farther your horizons will become.

What To Do

Utilize the above two tools that are free and easy to use. Continue your search for other sites that may add to your development as well. Remember, things are changing daily and what you learn today may be old news in the not too distant future.

Always observe your surroundings and watch what other people are doing. From their obsession with their smart phones and related apps to buying habits of consumers in a mall. From what they are doing in their spare time to what they are eating for lunch. A trend can often be seen simply from observing others.

Opportunities for new products and services are all around us. The key is to first observe a problem or trend and then fix the problem or capitalize on the new trend. Basically keep your eyes open wide and never take anything for granted. In the blink of an eye, the world can change, literally.

As always, I welcome your comments and suggestions for future topics.

Tuesday, November 19, 2013

How To Get Rich - Protect From Financial Disaster

Are you afraid of losing your main income source ?

Do you think the wealthy have no protection against financial disaster ?

Learn how to protect what you have today !

What Are Financial Disasters 

Financial disasters come in many forms. From losing your main income source such as your job to becoming gravely ill or disabled leaving you unable to work. Even your untimely death can leave your spouse and/or other dependents without a means for their survival.

What many fail to realize is exactly how fragile yours and your loved ones financial position in life really is. Reality is that most people will never protect themselves properly from the above possibilities or other potential pitfalls. We must all be aware that any of the above situations can happen to any of us at any time and most likely with little or no warning.

Protect to Build Wealth      

You could work for years and save for your future. You could live day by day making just enough to pay your bills. These are choices you must make for your life.

If you truly want to become wealthy, then you must protect what you have today from future potential financial disaster. Without proper protection, whatever you gain today may be gone in an instant tomorrow.

The Balance Between Protection and Wealth

The amount of protection you will need will vary throughout your life. For instance, a young couple with a young and growing family will generally need the most protection. A retired person or couple with no dependents and built up savings and investments will generally need far less protection. The key is for you to be able to identify where on the scale you currently fit.

A general rule of thumb is that the more wealth you currently have, the less protection from future financial disasters you will need. Also, the more people that depend on your income for survival, the more protection you will need. It is all about finding the right balance between wealth and protection.

I could write pages on this topic, but my space here is limited. You can find much more on this and other important topics in my ebook entitled "Five Star Wealth Builder" . Check out the free preview on Amazon at the following link www.amazon.com/dp/B00BJ931UM     

What To Do

You must first determine what the biggest threat to your financial future is. Once this is known you can start researching the different methods and/or products available to reduce or eliminate the effects of your future potential financial disaster.

I encourage you to read as much as possible on this topic as it is so crucial to your financial wealth building plan. One major downturn in your finances could potentially destroy a lifetime of careful planning. Don't let your future financial story be one of regret due to lack of proper protection planning.

As always, I welcome your comments and suggestions for future topics.

Tuesday, November 12, 2013

How To Get Rich - Learn The Meaning of Your Fear

Are you afraid of doing something different for fear of failing ?

Do you think success comes without taking some risk ?

If you are afraid of something it may mean you are heading in the right direction !

Define Your Fear

It is human nature to fear the unknown. It is normal to have a sense of fear when you are trying something for the very first time. However, this fear could be your sign that you are growing.

Many become afraid and decide to stop what they are doing because their fear takes over. They fail to realize that their fear can actually be a good thing. They slip back into their comfort zone because they see their fear as a warning sign of danger instead of a sign of personal growth.

Don't get me wrong, there are times when your fear should be paid attention to in order to prevent physical danger. However, there are other times when your fear is simply of the unknown. You must learn to define your fear before you can move on.

Moving Past Your Fear

If you find yourself afraid to move on, define your fear. Decide whether you are in danger of physical harm or is it just a fear of trying something new. If it is the latter, you must learn to push through this fear and move on to the next level of your personal growth.

Great things will hardly ever be achieved without pushing past this wall of fear. This wall of fear will stop most from ever even trying to succeed. The truly successful must master the art of controlling their fear and moving on to bigger and better things.

What To Do

If you find yourself being afraid, first define your fear. You must realize that being afraid of something new is perfectly normal. We all have fear, but this can be a sign you are heading in the right direction. Do not be afraid of being afraid.

Learn to push past your wall of fear and you will truly be able to experience bigger and better things. There could be failures along the way, but you will learn from these failures and move on. Your path of personal growth will contain many challenges and fearful moments. You must embrace this fear and learn to control it in order to achieve great things.

As you learn and experience new things, you will find that your fear subsides and your confidence builds. Overcoming your fears of the unknown is one of the keys to achieving great success.

As always, I welcome your comments and suggestions for future topics.

Tuesday, November 5, 2013

How To Get Rich - Know When Not to Invest

Do you think it is always a good time to make an investment ?

Do you think there are good times and better times to invest ?

Truth is, there are times when you should not invest !

Financial Brainwashing Explained

The financial world is full of advise. Financial planners, brokers, insurance salesmen, etc. They will all tell you the same thing. They all tell you that you should have all of your money invested all of the time to get the most out of your investments.

Truth is, they are all wrong. There are times when all investments good and bad are just too expensive to ensure you a good profit. Then why do these so called experts tell you to keep buying ? Sadly, because it is better for their business. A continuous supply of new money is what makes them prosper. Higher commissions on higher volumes of assets under management.

The average investor simply does not know any better. They believe what the so called experts are telling them. Ask yourself this about your financial adviser. Why is he or she still working if they are so good at investing ? Should they not be on a beach somewhere making gobs of money with their own investments ?

When Cash Is King

Your money is only good for two things in life. The first is that it can be used to make you more money. The second is that it can buy the things you want to enrich your life. Beyond that it has no use.

Cash has the most value to you when all ways of making more money are too expensive to make sense. Do you not like to see a good sale on a product or service you need or want ? Do you not sometimes hold on to your money and wait for a good sale to come along ? The exact same rules should apply to your investments.

The experienced investors are slowly building their cash reserves as the markets climb in value. They either sell part of their investments for a profit or they hold onto their dividends to invest later when there is a sale.They will never be making new investments when everything is too expensive to ensure them a good profit. They simply wait for a better time to invest.

What To Do

You must learn to recognize when it is a good time to invest and when it is a good time not to invest. An old rule of thumb for me is "When in Doubt, Wait It Out " ! You will never lose money by staying on the sideline, but you can lose money if you buy at the wrong time.

There is nothing wrong with building up your cash reserve when all other investments look too expensive. Know what you want to make from an investment before you buy. As investment values rise, the yield will fall as a percentage of the investments' value. If the yield becomes too low, then your investment is becoming too expensive to continue buying. This is when cash is king.

You must realize that all advisers in the financial field are in business to make money just like any other business. Some are better than others, but they all must make money to survive. Don't let them persuade you that it is always a good time to invest.

As always, I welcome your comments and suggestions for future topics.

Tuesday, October 29, 2013

How To Get Rich - Be In Control of Your Purchases

Are you one that falls prey to a good sales pitch ?

Do you think the wealthy ever fall victim to a good pitch or line ?

Truth is, even the wealthy are sometimes caught by a smooth talker !

Modern Day Prospectors

In the old gold rush days prospectors used to prospect for gold. They used to buy up supplies, picks, shovels and other equipment to help them in the quest for their fortunes. Would you believe me if I said there were more prospectors today than in the gold rush days ?  

Chances are that statement is true but in a much different way than in the old days. Modern day prospectors use different tools, even the tools of modern day technology. They use telephone solicitation, door to door solicitation, email spam and even personal contact and relations. I am sure you have had encounters with many of these prospectors already even if you are unaware.

The modern day prospector is prospecting for sales for whatever product or service they are selling. Their modern day territory is their calling or mailing list. You could be on any number of these lists. Beware.

Creating A Need

These prospectors will almost always try to convince you that you absolutely need their product or service. They will try and make you believe that your life will be so much more comfortable or so much better with the aid of their product or service.

Do you really think you absolutely need something that you had never even thought about before the phone call or email ? Sometimes yes, but most of the time no. There are some good products and services that are being sold this way, but how do you separate them from all of the others ?  How do you know if any of these are good for your situation ?

Make Their Ideas Your Own

Most sales pitches that you receive this way can probably be ignored without it damaging your lifestyle. In fact you may not be even remotely interested no matter how hard the prospector tries to convince you. But there may be some that make you think they may be good for you. These are the ideas that you should write down and think about further once you dismiss the prospector.

Never buy directly from a prospector, but use their ideas to do further research into the product or service they are offering. In most cases you will find a much less expensive alternative from one of the prospects competitors that do not sell this way. Simple reason, less marketing costs.

What To Do    

First and foremost, never buy from a prospector directly. If you like a sales pitch and feel you would like a product or service, write it down. Take this idea and research all the different sources for it. If it is a legitimate product there should be competition for it. Beware the ones that are not available anywhere else. They could be a hoax.

A good example of a financial product that is sold this way is life insurance. Check out my previous posting on the sidebar " What Is Life Insurance - Is It Really Needed " for more on this sometimes created need.

Take control of your spending. Never buy anything that is not your idea without doing proper research on your needs and the competition. Shop around before buying anything. Initiate all buying and you will never be sold a bill of goods so to speak.

As always, I welcome your comments and suggestions for future topics.

Tuesday, October 22, 2013

How To Get Rich - Understand Human Emotions

Do you know what emotion causes investors to lose the most money ?

Do you know how to avoid making mistakes based on emotion ?

Read on to find out how to profit from Human Emotions !

Two Emotions That Fuel Markets

The stock market can be a great place to make a lot of money. It can also be a place that many can lose a lot of money. The reason many lose a lot of money is because of human emotion.

There are two emotions that cause individual investors to make the wrong decisions at the wrong times. These two emotions are fear and greed.

When stock markets are soaring and everything is going up , up, up every day, people get greedy and keep buying long after they should. Many lose sight that things can and do go down very suddenly. Once the market starts to go down, these same inexperienced investors start to become fearful believing that they could lose everything. This often results in panic selling far beyond what is rational, driving the markets down even further.

Fear and Greed are two emotions that experienced investors take advantage of to increase their profits.

How To Make Emotions Work For You

First of all, you must remove all emotion from your investment decision making. You should be choosing your investments based on facts about the underlying businesses, not about hype and what everyone else is talking about. Choose businesses that are making money each and every day no matter what the stock markets are doing at the time. By choosing good businesses you can ignore the everyday fluctuations in markets most of the time.

However, there are times when you can use these fluctuations to make more money. Let me explain. When the markets drop in value, the underlying businesses shares drop in value as well. What this means is that everything could be on sale. You could snap up more shares of your great businesses for a great discount.
Use the fear of others to buy more shares of great businesses.  

On the other side, when the stock market is going up, up ,up for a long period of time, everything becomes very expensive to buy. This is the time when the wise investors actually start selling their shares and build cash  to use for the next sale or market downturn. Use the greed of others to lock in your gains.

Understand Cycles

All markets have cycles. Even without the emotional influences,  markets go up and down for many other reasons. What emotions tend to do is exaggerate these cycles tops and bottoms. By understanding the natural cycles of the markets you are investing in, you should be able to know when the good times are for buying and when the good times are for taking profits. These profits can be used for the next buying opportunities.

The more frequent these cycles are, the more often you can take profits. Thus, the more volatile the market you are in, the more opportunity for profit. But only invest on facts, not emotion.

What To Do

You must take all emotion out of your investment decision making. Buy only good, profitable businesses based on the facts about their underlying operations. Preferably, buy only businesses that pay you a dividend every month or quarter.

Sell some of your shares when you feel they have become too expensive because of the greed of others. Keep the cash from your sales for buying at a later date when everything goes on sale again because of the fear of others.

Understand that cycles are a normal part of investing and that they can be used to make more money if understood properly.

Most importantly, do not become greedy with your investing. Do not become fearful when things go down.
Opportunity awaits if you learn to go against the flow.

As always, I welcome your comments and suggestions for future topics.

Tuesday, October 15, 2013

How To Get Rich - Do Not Stand Still

Do you think the wealthy are in the dark about new trends ?

Do you think they are stuck in the past with old ideas ?

The answer is no, the truly wealthy are on top of all new trends and developments today !

The Past Is History

Many ideas and good investments of the past may no longer be relevant today. The time for buying a good investment and holding it forever is slowly fading away. This is because the past is history and the pace of everyday life today is increasing at an alarming rate.

People are no longer satisfied with things the way they were, at least not in the developed countries of the world. If you don't believe me just look at the cell phone industry for example. It seems like almost weekly there are announcements of new hardware, software and most commonly new apps.

Would you invest in a typewriter company today if one even existed ? If you don't know what a typewriter is, then my point is proven. Look it up on Wikipedia. Even companies that used to own the personal computer market are struggling today. Wow, who would have known that a few years ago.

Unlock Yourself From The Past  

Yes, the past is gone forever never to return unless someone invents a time machine. If that happens who knows what will happen.

If you are sitting back gloating about your success stories of the past, you had better stand up and look around. You may be in for a huge surprise when you realize the world has changed and you find yourself with no direction for the future.

It is so easy to feel great about what you have done. I know, I feel that way a lot myself. The key is to keep looking forward and try to anticipate what the needs of the future world will be. Position yourself for taking action when a trend starts to develop.

Keep Yourself Moving

Just as the fitness industry tells you to keep your body moving to stay healthy, so too must your vision of the future keep moving. Do not get caught standing still or you may become left behind and your financial health will begin to suffer.

I enjoy keeping up with new trends and developments. It is what keeps life interesting for me. How boring life would be if nothing ever changed.

What To Do

Do not sit and gloat too long about your successes of the past. Instead, stand up and look around at the world around you. Learn all you can about what is being developed and try to make sure you are in a position to take action when the time is right.

Most people never become wealthy because they are comfortable with their past and present and do not care about what the future may bring. They wake up one day only to realize that life has passed them by and they now have much less time to make a difference. Don't let this happen to you !

As always, I welcome your comments and suggestions for future topics.

Tuesday, October 8, 2013

Making Huge Returns on Real Estate

Would you like to make 1000% or more returns on your Real Estate ?

Do you think these types of returns are even possible ?

Truth is they are and it's not that hard !

Defining Returns

First let's determine what a return on investment (ROI) really is. This is a term that you hear all the time but many have no clue of it's real meaning.

Would you believe me if I told you I have made infinite returns on my Real Estate investments? Probably not, but I have. Let me explain.

ROI or Return on Investment is defined as the amount of profit divided by the amount of money invested expressed as a percentage. For example if you made $1,000.00 on a $10,000.00 investment, your ROI would be 10%.  Now let us suppose you made that same $1,000.00 without investing any money of your own. Any number divided by zero gives you infinity. In this case your ROI would be infinite.

How To Invest Zero

It is all in your perception, but Real Estate promoters advertise all the time about investing in Real Estate with zero dollars. Truth is, the invested capital is all borrowed money, therefore you are investing none of your own money.Whatever return you make on your so called investment is technically infinite.

My Real Estate investments have all been 100% borrowed money, therefore one could say my profits are infinite. It is generally easier to get financing for Real Estate than it is for any other investment. Mortgages for 80 to 90 percent of purchase price are common. The other 10 percent can be funded by a secured line of credit from another property holding. It's that simple once you have it set up properly.

 Beware the ROI

Always take the ROI numbers stated in an ad with a grain of salt. You must dig deeper into the details of any investment to get the true value as ROI numbers can be easily manipulated. Creative Accounting is a term that is used for making an average or below average investment look much better. Remember, there are many dishonest individuals out there, so beware.

What To Do

Be careful of how you perceive the returns on your investment holdings. Many will manipulate numbers to make their product look better than it really is.

Investing in Real Estate with 100 percent borrowed money can explode your wealth tremendously if done properly. On the other side of the coin, if not done properly you could get into serious trouble. Whenever leveraging (borrowing money) your risk becomes much higher.

Gain the knowledge first before leaping into any investment, especially Real Estate. Your time spent researching will be rewarded tremendously once you have the knowledge.

As always, I welcome your comments and suggestions for future topics.

Tuesday, October 1, 2013

How To Get Rich - Invest Your Time

Do you waste a lot of your time doing non productive things ?

Do you get caught up in today's many distractions ?

Many do, but you must try to limit these distractions !

Time Distractions

Time is something that once it is gone you will never get back. We all have only so much time in a day and week to accomplish our goals and dreams. How you spend your time is vital to your future success.

I am sure you have all heard of the latest craze Candy Crush Saga, the mobile game app that is catching the world by storm. This is a great product for the developers and the mobile phone companies. It is estimated to rake in over $600,000.00 per day each and every day. I wish I had a piece of that income stream.

This is an example of the latest in the many of today's distractions. My prediction is, because there is so much money to be made, we will see many more of these types of distractions in the future.

Focus Your Time  

In order to limit the many distractions we much learn to plan and prioritize our daily activities. If you have no plan of how to spend your time, guess what happens ? You will most certainly waste a good portion of it on one or more of today's many distractions. Guaranteed, because they become addictive.

I am not saying that you should not have recreational time. Recreational time is vital to avoid burnout. However, it must be scheduled and prioritized just like any other task. A limit must be placed on this Rec Time or else it will eat into your Productive Time.

Invest Your Time  

It has always been said that you get out of something exactly what you put into it. What this means is that the more time you spend on a task, the more you should benefit in the end. I know personally that I spend a great deal of my time researching different investment markets. That is exactly why I have been so successful with most of my resulting investments.

Simply put, you must invest your time before you invest your money. Even by reading this blog you are investing your time in gaining the knowledge needed before you invest your money in something. You are heading in the right direction.

What To Do  

Schedule your time, both productive time and recreational time. Do not let today's many distraction eat into your productive time. Be careful not to become addicted to games, etc. They will consume you in many ways if you let them.

Invest time into your project before investing even a penny. It will be time very well spent and you should be rewarded many times over. Remember, your time is your time. Once it is gone it is gone forever.

As always, I welcome your comments and suggestions for future topics.

Tuesday, September 24, 2013

How To Get Rich - Learn the Meaning of Risk

Have you ever been afraid of doing something because it is too risky ?

Do you think living with risk is too dangerous to your future ?

Truth is, risk is a vital part of getting ahead in life !

What Is Risk

Risk is defined as the potential negative impact of any decision you make. There is risk in everything you do or don't do. Life is all about risk.

If you decide to be safe and lay in bed all day because life is too risky, think again. You will be risking becoming lazy and obese and be more likely to attract health problems.

When investing, if you stick to safe low yielding investments, you will be risking that your money will be worth less in the future due to inflation and taxes.

Risk is everywhere and can never be avoided.

Managing Risk

Now that we understand everything has risk, how do we use risk to make the best future decisions ? Well, this is the tricky part and everyone will be different. Everyone has a different tolerance for risk.

Generally, one has to weigh the potential reward with the potential risk. Think of it as a scale. One side is reward and the other is risk. Determine the most probable outcome of your decision given historical statistics etc. Next determine the odds of that outcome not happening Place these on your scale and see which one is larger.

In many cases, the larger the potential reward, the larger the potential risk. In a lottery for instance, you risk a small amount of money for an even smaller chance of winning. The lure of a big windfall is what sells tickets. I would rather be the owner of the lottery corporation where the odds of winning every time are pre- determined. Lotteries make a lot of money.

If people were to use the above scale before buying a lottery ticket, they wouldn't buy one. The odds of winning are simply far too high. Instead, take the same money and save it for investing where the odds of making money are better.

Why Most Will Never be Wealthy 

I used the above lottery example to show why most people will never become wealthy. Simply, they do not understand how risk works. All they see is the potential reward and ignore the huge risk they are taking with their future wealth.

What To Do

Remember, everything has risk. You must learn to balance your potential reward with the potential risk you are taking. You should start making a conscious effort to use this balancing scale in everything you do. You may be amazed at how much easier your future decision making will become.

As always, I welcome your comments and suggestions for future topics.

Tuesday, September 17, 2013

How To Get Rich - Avoid Investment Scams

Do you think everyone who promotes investments is honest ?

Do you think others will always look out for your best interests ?

The sad answer in NO, many focus on their own greed first !

Greed Promotes Corruption

The sad truth is that wherever there is money there is an influx of greedy individuals looking to capitalize in whatever way they can. This includes shady or downright dishonest individuals that simply do not care who they hurt in order to satisfy their wants.

It is human nature that everyone wants more out of life. Everyone will develop different ways to try and achieve this desire and some will choose a life of dishonest or even criminal activities. Luckily the vast majority of individuals are honest, but how do you know which ones are not ? How do you avoid the smooth talking shady individuals ?

Beware Promises of Huge Gains

The shady individuals tend to play on the prospects' own individual greed. They look for individuals who want to make a fast buck and focus strictly on promoting huge gains if one were to invest. Their target prospect is one who has some money and a strong desire to make a big investment windfall in order to brag to their friends. These prospects are most often either desperate or simply uneducated to investing.

It is possible to make huge gains on an investment. However, with that potentially huge gain there has almost always been an equal if not greater degree of huge potential risk. A simple rule of thumb should be " the bigger the stated gain the more you should investigate all details of the investment" . Another even simpler rule would be to avoid these big gain promises all together. The odds of it being a scam are much, much greater.  

Always Have A Way Out

When investing, you should always know your exit plan before you enter into any investment. Things do not always work out as you plan and you need to have a fast way out in order to limit potential losses.

A dishonest investment promoter will almost always leave you with very poor options for getting out if you have to. In many cases, the investor will have to find their own buyer. This is a situation you want to avoid.

If the promoter is playing down your concern to have an exit strategy, then you simply need to exit the meeting and look elsewhere.

What To Do

To avoid most scams you should be wary of promises of huge gains. Remember, the bigger the potential gain, the bigger the potential risk.

Also, always, always. always know your exit plan before investing in anything. Only invest in investments with good markets to sell into if you must. Otherwise, you could be stuck with a bad investment for a very long time. Remember, you are investing to make money. Period. No other reason qualifies.

As always, I welcome your comments and suggestions for future topics.

Tuesday, September 10, 2013

How To Get Rich - Invest For Income

Would you like to get paid right away from an investment you make ?

Do you think waiting for a rise in value is the way to become wealthy ?

Truth is, Income Investing is the safest and most profitable !

What Is Income Investing

The definition of Income Investing is investing in a product that will put money directly in your pocket as soon as you buy. You will not have to wait for some future date when you hope your investment rises in value to cash in and make a profit.

Some Income Investments can actually pay you both ways ( money directly in your pocket every month or quarter and profits from Capital Gains once you eventually sell )

Why Is Income Investing Safer

Income producing investments are generally much safer investments than those that don't pay regular income. The reason being is that the business you are investing in must be profitable in order that it can pay you cash every month or quarter. Simply put, if it were not profitable, it would not be able to pay you anything.

Investing in anything that does not pay regular income is more like speculating or even downright gambling You are betting that there will be a rise in value. Common forms of this investment are small mining companies or small start up businesses. Generally, stay away from these if you want to get rich. If not, you may as well just buy a lottery ticket.

Show Me The Money

Yes. There is only one reason to invest in anything. To make money. Period. The sooner and more often you can get paid the better.

Another benefit to Income Investing is the eventual reduction to everyday stress. The more your investment income grows, the less dependent you become on your job or career for survival. A much better life than worrying how to pay your everyday bills.

With Income Investing you are also not as concerned with the everyday ups and downs in the markets. As long as you keep getting your regular income every month or quarter, you are more comfortable waiting out the inevitable market downturns.

What To Do

Invest only in products that put money in your pocket from day one. Stay away from the hot stock tips or start up Real Estate deals that are generally very risky and very profitable for the promoters. If you want to gamble, go to the casino or buy a lottery ticket.

As always, I welcome your comments and suggestions for future topics.

Tuesday, September 3, 2013

How To Get Rich - Learn Not to be Afraid of Mistakes

Are you afraid to make a mistake that will ruin your financial life forever ?

Do you think the wealthy never make mistakes ?

Truth is, mistakes are common but not life changing !

Fear of Trying

One of the biggest obstacles to building wealth is the fear of trying something new. In order to grow in any facet of your life you must learn to try new things and to take the odd chance that something new will work out.

Of course not all things you try will be successful. However, if you never try, you will never know if something would have worked for you or not. Most people "sit on the fence" so to speak and never take the necessary action to try something new. Don't let that be you.

Get Off The Fence 

Yes, get off the fence. If you have been thinking of trying something for a while now, ask yourself why you still haven't taken action and given it a try. Your most likely answer will be fear or the lack of knowledge to take the first step.

If your answer was fear, then your first step must be to gain the necessary knowledge in order to ease that fear. Knowledge will give you power and ease the fear of not knowing how to start.  

Find a Good Source for Knowledge

There is an overwhelming amount of information available these days over the internet and other sources. However, not all of the information is valuable or even accurate. You must find yourself a good quality source and follow the advice you are given. I would like to think that this blog is an excellent starting point for most individuals. Dig deep into it and give it a try.

What To Do

To get off the fence and try something new. First gain the necessary knowledge from a good source. Secondly take action and just do it. Give your idea a try and you may be surprised. Stay tuned for future wealth building topics.

As always, I welcome your comments and suggestions for future topics.

Tuesday, July 9, 2013

How To Get Rich - Use The Summer Slowdown

Have you ever heard of investor burnout ?

Do you think the wealthy work every single day ?

The key to maintaining wealth is to enjoy your success !

Why Do We Build Wealth

Building wealth is not simply making your numbers bigger. The real reason we build wealth is to improve our lives. Well, at least that should be the reason.

What good is having huge numbers if you don't take time to enjoy the benefits those numbers bring ?

Financial Hoarders

A financial hoarder is an investor that is too afraid to spend some of their wealth on enjoying their life. They are continuously building their number for whatever reason. I am sure we all know someone that fits this description.

I suppose these hoarders get the satisfaction of seeing their numbers grow, but I personally think life is all about balance. By not enjoying a portion of their wealth today, they may never enjoy it at all. Health problems can and do arise suddenly and sometimes without much warning. I have seen this situation far too many times.

Life Is About Balance

It is possible to build great wealth and to enjoy your success as you go. In my opinion, this is the single biggest advantage to building wealth. Freedom to enjoy your time !

The summer months are one of the best times to enjoy your time and to reflect on your past achievements as well as past failures. Clear your mind from all the stress and really think about your future wealth building plans.

A well rested mind and a well rested body are essential to maintaining your current wealth as well as making solid plans for future wealth building.

I will be taking my own advice in regards to this blog. I will not be making the regular weekly postings during the summer months. I will return in the fall with fresh new ideas to help you all in your wealth building efforts.

Have a Great Summer !

Tuesday, July 2, 2013

How To Get Rich - Legally Keep More Money

Do you know what one of the biggest threats is to your wealth ?

Do you think most people understand the impact ?

Most people have no clue how much their own governments steal from them !

The Biggest Threat To Your Wealth

One of the biggest threats to your future wealth building efforts are the politicians and governments of your country. Most governments if not all are extremely inefficient in the use of their funds. Or should I say in the use of your funds that you are forced to pay them in the form of various taxes.

If most people were given a choice, they would prefer to keep all of the money they earn. But unfortunately much of the world's population does not have that choice. They must pay part of their money to their governments or face going to jail. We have come to accept this as a normal way of life. But should we ?

It's true governments often provide essential services for the taxes that are paid. But the one weakness of governments is that the top priority of all politicians and other world leaders is to remain in power. All other goals become secondary. This leads to much corruption and inequality in how people are treated.

The Wealthy Keep More Money

Because of the inequality in how people are treated, the wealthy can often pay much less in tax than the average individual. This is because in many countries the wealthy have a strong influence on the governments and their taxation policies. The wealthy are basically rewarded for helping keep the politicians and other world leaders in power.

This is far from a perfect system, but the average individual has no choice. We must accept the system for what it is and try to limit the amount our governments steal from us.

What To Do

None of us want to end up in jail, so we must comply to our governments current rules. But we should take advantage of opportunities, if any, that our governments offer to reduce the taxes we must pay.

Think of your government as your opposition in your wealth building challenge. In order to limit your opposition's effect, you must learn to limit the amount of money they steal from you. Therefore you must make it one of your priorities to learn everything you can about how your money is taken from you each and every day and how you can limit that amount.

As taxation laws are often written by lawyers, it is very difficult for most to understand and interpret the rules and opportunities that are embedded. This is no doubt done on purpose to intimidate the average individual and discourage them from learning on their own. However, you should try and understand all you can on your own before seeking help. The more you know, the better off you will be.

As your wealth grows, you should seek the help of a good tax professional to help in your tax limitation plan.
You may find that as your wealth grows so will the opportunities to reduce the amount your government steals from you.

Stay on top of how much your opponent is taking as the rules of the taxation game are forever changing.  

As always, I welcome your comments and suggestions for future topics.

Tuesday, June 25, 2013

How To Get Rich - Learn To Squirm ?

Are you comfortable with the life you have today ?

Do you think being comfortable is the best way to become wealthy ?

If you do, think again ! Being comfortable is a huge roadblock to building wealth !

The Comfort Syndrome

How often do you hear the rags to riches story being told ? There is a very good reason why this change in position is so vital to one's success.

The more comfortable one's life is when they are growing up, the less motivated they are to make the big changes that are needed to become really wealthy. When one comes from poverty there is also much less to lose on the way to building wealth. They have not been used to life's comforts so they don't know any better.

Growing up in a comfortable environment where you are used to having basically everything you need makes a person extremely lazy. You merely have to do the bare minimum to maintain your comfortable lifestyle. You do not want to risk your comfortable lifestyle by taking the risks you need to take to become really wealthy.

Squirm Like a Worm

Have you ever watched an earth worm squirm around when you disturb their comfortable surroundings ? They frantically look for another safe haven before they are eaten or squished. This is a protective reaction that nature provides. We as humans are not that much different.

We become very comfortable in our surroundings and do not like it when anything or anyone comes along that threatens to change that comfort zone. We have a tendency to do whatever it takes to remain the same and to not venture into new territory. We are like worms hiding under a rock.

To really get ahead in life, you will need to take some chances. You will have to crawl out from under your comfort zone and try something new. At first you will feel very uncomfortable and try to squirm around to find safety. This is nature's protective way of keeping you safe. But keeping you safe also prevents you from growing.

What To Do

Because we are blessed with a superior brain compared to the earth worm, take the opportunities that are available to learn all you can about becoming wealthy. Learn from those that have gone before you.

Next, get out from under your comfort zone and try something new. Challenge everything from your past that you took for granted. Squirm like a worm until you find the way to grow to a point where your fears melt away. Nothing ventured, nothing gained is an old saying that is still very relevant today.

You do not have to come from rags to become rich. But you do have to get out from under your rock of comfort to achieve anything in life.

As always, I welcome your comments and suggestions for future topics.

Tuesday, June 18, 2013

How To Get Rich - Use Your Magic Mirror

What do you see when you look into the mirror ?

Do you see the type of person you really want to be ?

If not, you had better read on !

Mirror Mirror

Mirror, mirror on the wall. Who is the fairest of them all ? This old line from one of the Disney classics is something you should give a try from time to time. Let me explain why !

Most of us should have a mirror we can look into. In fact, if you're like most people it is something you do daily without giving it any thought. But do you really look deeply? Probably not.

Ok, this may seem like a crazy post, but please bear with me. What you see in the mirror is what others see as well. On the surface it seems it is all you have to work with. But is it ? Not at all !

What Do You See

When I look into the mirror I see a person, sometimes happy, sometimes sad. But above all I always see the person that has made or will make the biggest difference in my life. Whatever actions that change my life are made by this person in the mirror. Not by anyone else.

There it is. You are one hundred percent responsible for everything that happens in your life. There is no one else in the mirror telling you what to do or what to say. Just you. 

Blame Game

Do you know someone who always blames someone else or something else for all their problems ? I think we have all encountered these types of individuals. In fact sometimes I have caught myself being one of them. That is why I use my magic mirror. It reminds me of who is actually responsible for where I am today.

We blame other outside forces simply because it is easier. It is very difficult to blame ourselves and realize that we are responsible for our actions or in-actions. That's right, the lack of taking action is one of our many faults. 

Magic Mirror

I call it my magic mirror because it reveals who I really am. It shows who I should really blame for mistakes and it shows who I should thank for all that has been achieved. Of course there is no real magic at all, but mere reflection. But what a reflection it is. The person that will change my life in whatever way I wish. 

The one and most important thing your magic mirror will show you is who you really are. Who you really want to be must come from within to someday be reflected outwards to show your future self.

What To Do 

Whenever you feel yourself blaming anything or everyone but yourself, look into your magic mirror. Take note of who is really in charge and who can change your future. Tell yourself what you want to do and when you want to do it. Then make it happen. Simple.

If you start making this a habit, you may find that you will outwardly blame others less and accept responsibility for where you are today. Your magic mirror will become the reflection of your true self.

As always, I welcome your comments and suggestions for future topics.

Tuesday, June 11, 2013

How To Get Rich - Generate More Time

Do you know how important time is in growing your wealth ?

Do you think the wealthy have more time than you do ?

Yes, the wealthy actually do have more time. Read on to find out how !

Why Time Is So Important

When it comes to investing, time is extremely important. Simply put, the sooner you start building your wealth the more you will have.

Think of yourself as saving a fixed amount of money every month. The more months you do this, the more money you will have. Go to the tools page on this site under the savings calculator. Run through a couple of examples and see what the outcome is. You may be amazed.

The sooner you start your wealth building plan the more time you will have to grow and enjoy it. Ideally, you should start your plan right after high school or college, with your very first job. Before this point is even better if you can. Time is on your side.

There are 525,600 minutes in each and every year plus an additional 1,440 minutes every fourth year (leap year).  This should give you plenty of time to plan for your future. However, most waste away these valuable minutes sleeping, eating and just plain goofing around.

Wealthy Have More Time 

The wealthy have more time to become even wealthier because they use other peoples time. Let me explain.

People that own businesses or rental properties quite often hire employees to make money for them. As long as the employee generates more income for the employer than the wages and benefits paid to the employee, the employer gains. The more profitable employees you can hire, the more money you will make

Most full time jobs are 40 hours per week, or 124,800 minutes per year. Minus approx. 24,000 minutes for annual vacation (2 weeks) This means the average individual sells approx. 100,800 minutes of their time each year for a fixed amount of money in wages. This time is being used to make money for the employer.

This means that for every 5 or so employees a wealthy person has, their time is doubled. This is called time leverage and it is one of the most powerful concepts for accumulating wealth.

Employee or Employer

Now, if you had a choice I think you would like to be an employer instead of an employee, right ? At least I hope so after reading the above.

Did you know that some of the wealthiest individuals in the world today are college drop outs ? It's true, and they realized early on in life that they would not become wealthy by being an employee for someone else. There simply wasn't enough time no matter how high a wage they could earn.

However, for most of us, we simply don't have the knowledge or the ideas to start our own profitable business. There is also a great deal of risk and time required to develop a profitable business on our own.
The good news is there is a safe and easier alternative for building your wealth.

Be Both and Prosper

It is possible for you to be both an employee and an employer at the same time. You can be an employee to earn enough to pay your living expenses and live your desired lifestyle. You can be an employer by investing a portion of your income in large profitable businesses who hire many employees.

For most, it is best to be both, at least until the investments make enough to pay for your living expenses and support your desired lifestyle. At that time you can "retire" as an employee and become an employer full time.

Well, actually your time can be used to enjoy your life or look for other ways to become wealthier, it's your choice. This is because you have now hired other people (through your investments) who will be working to make you money. You no longer have to sell your valuable time for money.

Your time and the time of others can be used to your advantage to build your wealth. It's now your choice to see how you can use your most valuable commodity, time.

As always, I welcome your comments and suggestions for future topics.

Tuesday, June 4, 2013

3 Ways To Make Money From Real Estate

Do you know all the different ways you can make money from Real Estate ?

Do you think the truly wealthy ignore any of these income streams ?

Chances are you don't and no they never ignore all the income streams !

Building Real Estate Wealth

Real Estate offers the average individual an abundance of opportunities to add to their wealth building efforts.
There are three basic forms of profits from Real Estate investments. Many investors do not realize how to maximize their profits in all three ways from one single investment. Let me show you all three ways so that you can decide how you will maximize your profits.

Profit Builder #1

This first way of making money in Real Estate is what most people look at when buying a property. It is a thing called Capital Gains. It basically means you buy a property, do some repairs or renovations and sell it for more than you paid for it. Some call it flipping and depending on the market conditions during your hold period, it can be quite profitable.

The big problem with this form or Real Estate investing is that you totally ignore the other two forms of income that you could be making. In my opinion this form of "flipping" is more speculation than truly investing. If markets are in a decline you could lose a lot of money. Let's look at the other ways.

Profit Builder #2

The second way of making money in Real Estate is Rental Income. You buy a property, fix it up enough to make it rentable to good tenants and collect rent each and every month. The key to making money here is that you must have positive cash flow. In other words what you collect in rent must be more than what you pay out each month in expenses.

This form of Real Estate investing in much longer term than "flipping" as shown above. For this reason, you are not so concerned about the short term direction of the market so long as you have positive cash flow each month. Your bigger concern here is the quality of your tenant and how much damage they will do to your property.

Profit Builder #3  

The third way of making money in Real Estate is Equity Accumulation. You buy a property, fix it up enough to make it rentable to good tenants and then take your money out by getting the biggest mortgage you can. This way you can use your money to buy another property or other investment. Let me explain this a bit further to clarify how money is made.

The key here is to still have positive cash flow after making your mortgage payment each month. If you have chosen your property and your tenant well this should be the case. Most mortgages contain two components, interest and principle repayment. The principle repayment is basically the amount of the loan that you pay off each month. This amount will increase over time based on the amortization of the mortgage.

This may seem confusing at first, but simply put, your tenant is paying off a piece of your loan every month. This makes the portion of the property that you own more each month. Therefore your equity (how much you own) will continue to grow over time.

What To Do  

You must look for properties that will give you a positive cash flow after all expenses including management and mortgage costs. Using others to manage your properties will free up your time and using mortgages will free up your money. More time plus more money equals more opportunities to grow your wealth.

This process can be repeated any number of times anywhere in the world you choose that offers the best opportunities. This is how the truly wealthy continuously grow their wealth, one investment at a time.

In summary, buy a property, fix it up a bit, rent it out, get a mortgage, sell it when the time is right. Repeat, repeat, repeat. Reinvest your profits in other opportunities. Continuously grow your wealth.

As always, I welcome your comments and suggestions for future topics.

Tuesday, May 28, 2013

3 Rules for Building Enormous Wealth

Do you want to be so rich you will never have to worry about spending money ?

Do you want the best of what money can buy ?

These goals and many more are all possible by following these 3 simple rules !

Rule #1 - Patience is a Virtue

The real truth is that building enormous and lasting wealth takes a bit of time. Do not fall prey to all of the making money fast schemes because they simply do not work. If you don't believe me just ask yourself one question. If someone found a way to make gobs of money fast and without effort, why on earth would they share their valuable information with others no matter what the cost ?

The answer. These promoters are hoping to make money from you and others that go along with their schemes. If they were truly wealthy themselves, they would not need your money. If they were sincere about helping you they would do it for free.

Rule #2 - Develop Your Wealth Building Plan

All businesses have a plan of action with goals that they want to achieve by a certain date. Your wealth building adventure should be no different than those of the largest of corporations. No two individuals will have the same goals and plans to achieve those goals because everyone is different.

Many financial planners and others try to fit you in a box and persuade you to do this, that or the other thing because everyone else is doing it. But as I said before, everyone is different. How can anyone else possibly know everything you want and when you want it. Simple answer is they don't. This is why you must develop your own individualized plan.

When thinking of your plan, be sure to understand that things don't always happen the way you feel they should. For this reason, make sure you build some wiggle room into your plan to allow for changes as you go.

Rule #3 - Do What You Have To Do

No matter how good a plan you develop for yourself, if you don't take the actions you need to take when you need to take them, your plan will fail. If you don't save money when you have to save money, your plan will fail. If you don't buy an investment when it is on sale at the right time, your plan will fail. If you don't sell an investment when you see other better opportunities, your plan will fail. These are a few examples of what you need to do and the timing can sometimes make a huge difference.

Of course you will not go through life without making some mistakes. This is called education through experience. Expect to make mistakes and build them into your plan.All of us make mistakes occasionally and anyone that tells you different is a liar.

For those that for whatever reason never take action, never get off the fence, never do what they have to do, there is no one that can help them. No matter how much they learn they will never get anywhere. They will live in the rut they call life forever and blame everyone else for their position.

What To Do 

To sum up what you should do, be patient, be thoughtful and develop your own plan, do what you have to do when you have to do it. Three very simple rules that if followed will ensure you a much more comfortable life than you have today.

There are no guarantees that these three rules alone will bring you enormous wealth, but they will certainly go a long way towards helping you in that direction. After all, what is enormous wealth anyway, everyone is different.

As always, I welcome your comments and suggestions for future topics.

Tuesday, May 21, 2013

How To Get Rich - Share The Big Dream

Do you think most people have dreams of someday becoming wealthy ?

Do you really think anyone cares how much money you have ?

I don't know the answers, but let's explore the possibilities !

The Big Dream

From my experience dealing with trying to help individuals to better themselves, most just want to have a comfortable life. Many individuals don't believe they will ever some day be wealthy. For whatever reason, becoming wealthy is simply not important to them.

The fact that you are even reading this blog means that you most likely have bigger dreams than most. You likely don't just want a comfortable life, you want something more. If I am right, you have come to the right place. This site is designed to propel you above the average and work towards whatever dreams of wealth creation you may have.

My philosophy is that the bigger you dream the more you will achieve. If you never have a big dream and work towards achieving that dream, what could you possible become ? The answer, average or even below average.

Share The Big One

Let's say that everyone that reads this blog wants to have a million dollars in five to ten years. Do you think everyone will succeed ? I would like to hope so, but in reality this probably won't happen. There will be many reasons, but the biggest is lack of execution. Many read and learn and then do nothing to act on their new found knowledge.

Taking action takes a lot of courage. Doing anything for the first time is scary. So scary in fact that many will never even try. But there is a way to reduce your fear. Share The Big Dream !

What this means is basically find others that share your big dream or a similar dream and work together. A good way to do this would be to start an on line forum with other readers of this blog or other similar sites. By working together and sharing information and stories, the fear of doing something alone should diminish.

If you are interested in this idea but don't know how to start, go to the contact page on this site and send me an email with your first name, your email address and a description of your dream or goal.

On Line Isolation

By sharing with others that have similar dreams and goals you will be reducing what I call on line isolation. The internet can be a lonely place for many that do not share their knowledge and experiences. By sharing other individuals success stories and their failures you can reduce the anxiety and fear associated with going it alone so to speak.

Share the big dream and build your courage towards achieving your lifetime goals. This could be your first step towards building long term wealth creation that will last a lifetime and beyond.

As always, I welcome your comments and suggestions for future topics.

Tuesday, May 14, 2013

How To Get Rich - Know The Meaning of True Wealth

How many people do you think are truly wealthy ?

Do you think wealth is measured merely by numbers in a bank account ?

If you do, think again. Numbers have very little to do with true wealth !

Realize your Right

As an individual born on the planet earth, you are equally as important as any other individual and don't let anyone try to tell you different ! As a part of the international world community you have a right to become whoever you want to be. You have a right to do what ever it is that you see in your dreams.

The problem is many of the so called wealthy try to repress others into thinking they are somehow less important than those with numbers in their bank account. Nothing could be farther from the real truth.

True Wealth

True wealth has nothing to do with numbers in a bank account. True wealth is all about what is inside you that drives you to become a better person and to help the world community in a way that you will be remembered by future generations. That is true wealth.

Now try to think of all the individuals you have heard of that fit into this category. You have probably heard of only a few because the truly wealthy seek no attention for what they do. They get all that they need from their drive from within.

Liars, Cheaters and Others

There are many that have big numbers in their bank accounts that are not truly wealthy. In fact I would go on to guess that many of the individuals you would call wealthy are truly not.

Those who have built their numbers in their bank accounts by hurting or taking advantage of others are no more than common criminals. To better yourself by taking advantage of others weaknesses should be a punishable crime. The trouble with our society is that these individuals avoid jail and are allowed to fill their bank accounts with big numbers and in turn we mislabel them as wealthy.

Your Road To True Wealth

Now that you know the meaning of true wealth, the choice is yours. You can focus strictly on the numbers and not care about who you step on to get there, but you will never become truly wealthy. Your other choice is to focus on making a difference in this world and not care about the numbers. But neglecting the numbers totally will also not make you truly wealthy.

The proper path is to find the right balance that will increase the numbers in your bank account while still making a difference in this world. This is truly more challenging than just focusing on one or the other. However, the rewards will be huge as you will be able to hold your head high during the day and sleep like a baby at night. The perfect position of someone that has achieved true wealth.

As always, I welcome your comments and suggestions for future topics.

Tuesday, May 7, 2013

How To Get Rich - Own Great Businesses

Do you think Business Owners are richer than you are ?

Do you think you need to work hard at a business to become wealthy ?

Discover a new way of thinking that could change your life !

Why Own A Business

Business ownership is one of the cornerstones of building wealth in a market economy today. There are many benefits from owning your own business. A few of the main ones are as follows :  Time Leverage -  you can hire others to do the day to day tasks which frees up your time to make more money. Control of your future - You control your business and how it operates, therefore you are not relying on someone else for your future prosperity. Capitalize on Opportunities - You can research new and additional ways for your business to increase it's profits. And So On ........

To sum it up, business ownership is a must if you truly want to become wealthy.

Many Business Owners Not Wealthy

Ok. There are many small business owners that are simply slaves to their business. Many restaurants and other small service type businesses are merely jobs disguised as a business. Many owners of these types of businesses can work very long hours for very little reward.

These are not the types of businesses that you must own to become wealthy. The idea is to make money without investing a lot of your precious time. But How ?

A Piece Of Pie  

Simply speaking, you must own a piece of the pie instead of making the pie. In other words, you can own a great business simply by buying a  piece of the pie or a share of someone else's profitable business. The only requirement is that you need money to invest. Yes, invest, that's the best way to own a part of one or many great businesses. Just ask Warren Buffet, one of the world's top ten richest individuals.

Owning a piece of  many a thriving, growing money making machine is the easiest way I know of to become rich. It will take very little of your time and spread your risk throughout many businesses. The perfect solution to owning great businesses.

Nothing New

This concept of wealth building is certainly not new. It has been used by the wealthy for generations. However, what is new is that with the advent of the internet and on line trading accounts, almost anyone can now build their wealth this way. With as little as $100.00 you should be able to get started in most cases.

The world of opportunity is now at your fingertips. There has never been a better time throughout history for you to build wealth so easily. No commitment of a lot of time, no large investments required, no inside knowledge or experience needed.

With just a click of your mouse you can now own great businesses like McDonalds, Walmart, Coco-Cola, Disney, and thousands and thousands more. Amazing when you truly think about the possibilities.

As always, I welcome your comments and suggestions for future topics.

Tuesday, April 30, 2013

3 Top Real Estate Profit Building Tips

Do you know what separates a good Real Estate investment from a bad one ?

Do you know how to maximize your future profit potential ?

Discover these three methods to increase your overall wealth !

Profit Building Tip #1

There is one thing you can never change about a Real Estate investment. Location. No matter how hard you try to fix up a property, if you buy in the wrong location, you will lose.

Whether you are buying a property for revenue or for your own use, always consider the location first. There are reasons that properties in poor locations sell for much less. Because nobody wants them. Nobody wants to live in an area with high crime or high industrial pollution etc.

Start your property search by determining what areas are best for reselling later on. You always want to have an exit plan before you invest in anything, even Real Estate. If you can't get out, you could be stuck with a real mess.

Profit Building Tip #2

Once you choose the area or areas you want to invest in, you can now start looking at individual properties. For maximum investment growth potential always pick the worst house on the block so to speak.

Look for properties that have been neglected by the previous owner. Never buy a newly renovated property. If you do, you will be giving your profits to the previous owner instead of making them yourself.

Fewer Real Estate purchasers will want to buy a fixer upper, especially if they are planning to live there themselves. For this reason, you should be able to get a better price and may even be able to get the property for substantially below the asking price. Never be afraid to low ball your offering price. You can always increase you bid later if the vendor doesn't bite.

Profit Building Tip #3

Once you have purchased your undervalued property in a good area it is time to add value to your investment. Renovate your ugly home and turn it into the best house on the block. Look for ways to add to it's curb appeal and to make it more comfortable to a new owner. Update electrical, plumbing and heating/cooling if necessary.

Be careful with your renovation plans though. Do not over renovate your property to the point you will no longer be able to increase it's resale price. Given your chosen location, there will always be a maximum price that new purchasers will be willing to pay.

The key here is to bring your property up to the level where it will be one of the more desirable properties on the block without spending more on renovations than you need to. Many investors overdo it in this area which reduces their overall profit on resale.

What To Do

Whether you are looking at buying a piece of Real Estate for revenue producing or for your own use, the above three tips will help you to make maximum profits on your property once it comes time to resell.

You should still be careful though about when you buy into a given market ( as mentioned in one of my previous posts) . If you buy at the wrong time at the top of  a market cycle, you could still end up losing even by following these tips. Be careful and be well informed before you buy.

To recap, when the time is right, find a good location, find a fixer upper and renovate. This process can be repeated many times in many locations.

As always, I welcome your comments and suggestions for future topics.

Tuesday, April 23, 2013

How To Get Rich - Search For Good Investments

Do you know a good investment when you see it ?

Can you tell if what the promoter is saying is actually true ?

If you answered no then you had better read on !

The Good The Bad And The Ugly

All investments basically fall into one of the above categories. Good investments are ones that have a proven track record of increasing income and growth for their investors. Ideally, they pay out income either monthly or quarterly. They are also very easy to buy and sell if your plans should change or the investment starts to struggle. I call it the easy in and easy out principle, others call it liquid.

Bad investments are ones that have not yet proven their value to the investor. They generally do not pay out a regular income and the value of their shares fluctuate wildly for a multitude of reasons. They are sometimes promoted heavily by brokers and others in the industry. They are quite often new companies with new products that are promoted to revolutionize the world. They play on investors emotions and lead you to believe there are big profits ahead.

The truly ugly investments are ones that have all the qualities of the bad ones above in addition to a few more restrictions for the investor. They are generally very easy to invest in but almost impossible to get out of in a hurry. The most common of these types are Real Estate Limited Partnerships. Many generally have no history of making any money at all and to sell your shares you have to find someone else yourself who is willing to buy. A very difficult if not impossible task if it is truly a bad investment. They are promoted heavily and show wonderful projections of profit, but they are just that, projections.

Separate and Filter 

Before investing your hard earned money, you must determine which category your investment options fit in to. Needless to say you will want to invest solely in the good investments and stay far away from the others.

Ugly investments are relatively easy to spot by using the easy in and easy out principle. Always know how to get out of something before you look at getting in. Simple but often overlooked in the excitement of the hype.

Investments that fit into the bad category can sometimes turn into good investments. However, it is very difficult to know which ones someday will. If you are able to pick these right, big money can be made. With the bigger potential gain also comes higher risk of your invested capital. Not generally the ones to use for your core investments.

Learn Before You Yearn

By following the above guidelines you will eliminate most potential investments from your search. You will then be able to learn all that you can about the ones that are left. From these remaining good ones you will be able to research which ones will be best suited for your future wealth building efforts.

Remember, your goal in investing is to make money, not lose money. A losing investment early in your investing career can seriously erode or even destroy your confidence and your motivation to become wealthy could be seriously damaged.

Start with the good and learn all you can before you yearn for a better life.

As always, I welcome you comments and suggestions for future topics.

Tuesday, April 16, 2013

How To Get Rich - Build Your Financial Shield

What would you do if you lost your job ?

What would you do if you had a sudden major expense ?

Sad to say, but most are never prepared for a major financial setback !

The Big One Is Coming

There will most likely be at least one major financial setback in your life. For some, there may be many. But how do you know when they are coming ?  The simple honest answer is you don't !

The very first step in protecting for the big one is to realize that it will happen. You cannot realistically expect to go through life thinking everything will go your way. Instead expect the unexpected to happen as it most likely will. Now how do you go about preparing for this inevitable event ?

Choose Your Shield Strength
First you must decide how strong a shield you need. In other words, how much money you should set side to  be used for emergencies only. My suggestion is to set aside enough money to pay all of your living expenses for a period of three to six months. Your actual amount will vary depending on your level of living expenses and the relative security of your main income source.

Some jobs are much more prone to layoffs than others. For example a construction worker and a medical professional will have far different levels of expectation of layoffs etc. You must decide how likely it is for you to be laid off and for how long.

In any event, be prepared for having absolutely no income for at least three months. This should give you enough time to make plans for your future.

What To Do

Once you decide your amount, start putting a little bit aside towards this amount every pay period. As suggested in other posts, plan to set aside at least ten percent of your net income. This ten percent will first be used to build your financial shield. Once your shield is up to full strength, you can then start using the ten percent towards building additional sources of income.

Your shield should be stored in a safe place. In other words, don't keep your shield in your everyday savings account that you  have full access to. Instead, open a separate savings account at a different bank and place your shield there. Also, make sure that it is difficult to access. No bank card access to this account. This will make it less tempting for dipping into for everyday expenses or special wants.

Maintain Your Shield Strength

Once your shield is built and fully charged there is normally nothing more you need to do until you need it. When your inevitable emergency expense comes along, use part of your shield as needed. As soon as you are able, start recharging your shield to prepare for the next big one.

That is all there is to it. A pretty simple plan but a very powerful protection for your future financial wealth creation. Without this shield in place you may never be able to withstand the financial storms ahead which will surely slow down or completely stop your wealth building and realization of your dreams.

As always, I welcome your comments and suggestions for future topics.

Tuesday, April 9, 2013

How To Get Rich - Follow A Good Leader

Do you think you need to learn everything before you become rich ?

Do you think others have gone it alone ?

Following a good leader can be much faster and easier !

Why Reinvent The Wheel

As a society, we grow because we learn what others have already done and start our personal growth from there. We do not go back in history and learn every little thing there is to know in order to achieve our goals.

Many inventions are merely a new way to do something that has already been done. A simple improvement or modification that no one else had ever thought of before.

The very same rules can be applied to building your wealth. You do not need to learn every little aspect of wealth building before you can begin. Why reinvent the wheel so to speak. Instead, climb on the shoulders of someone successful and simply do what they do.

The biggest problem here though, is how do you know who is really successful and who is merely trying to sell you a product ?

How To Find Your Leader

The first step is to filter out all the garbage. The truth is there are a lot of people , especially on the internet, that are trying to make money who are not wealthy themselves. Anybody can post pictures of fancy cars and real estate. It doesn't mean that they are the owners.

The next step is to make a list of the ones you want to check out. Yes, check them out. Never get involved with a scheme that comes to you. Always be the proactive one and start the process yourself.

With your short list so to speak, check out their history and get a feel for how the general industry perceives the individual. Are they honest, are they actually as successful as they let on, etc. Also, check for real testimonials that can be verified. Many pay actors to do testimonials that have no clue about what they are promoting. Sad, but unfortunately true.

Be Patient

Never be in a hurry to find someone to follow. If you rush the process, you will make mistakes. These mistakes could some day become very costly, both in time and money.

A truly good leader will give away much for free or for very little. After all, your leader will already be wealthy and has no need to make a living off of you. The goal of a truly good leader is not to make piles of cash off of his or her followers. It is more to provide a service to those who need the help.

What To Do

The fact that you are reading this is a step in the right direction. Learn all that you can on your own and be proactive about finding your right leader. Do not believe everything you read or see without verifying it yourself. Be careful of the fake testimonials of the dishonest promoters. Do your own research to find the proper leader for you.

In the meantime, you are welcome to read all of the previous and future posting on this site without any cost or obligation. Learn all you can before choosing your leader.

As always, I welcome your comments and suggestions for future topics.