Have you ever wondered why some people are just so successful ?
Do you really think that they are so much better than you ?
You have the ability to join them, read on and find out how !
Blinders
When it comes to the path of life, most people have blinders on. The older they become the more set in their ways they become. Unwilling to look at new ideas or ways to improve on what they have already done.
I find this aspect of individuals the most frustrating. For whatever reason, most people just don't want to change even though the change would do them good. There is absolutely nothing you or I can do to help these people. Change must start from within !
Internalize
To have a chance at someday becoming successful you must internalize your desires and dreams and learn to embrace new ideas. If you are not already filthy rich then obviously what you have done in the past is simply not working. Does it not make sense then to change your course and direction ?
Are you scared to try something new or are you just like everybody else. Comfortable ! Too comfortable to really make the changes needed to prosper. The choice is yours. Internalize ! Become passionate about your goals and dreams ! Do it NOW , not later !
Open Up
Throw off the blinders of life and embrace new ideas and opportunities. Open your mind to the possibility that you can do it too. Just like other successful people in life, you too can enjoy the many opportunities that await you. Seek and you shall find. Be determined and never give up.
Without the proper mindset you will not be able to be truly successful. You must think that you can do something before you ever try. If you don't, you have already lost the battle and may as well give up. You will soon realize that your blinders are still on.
As always, I welcome your comments and suggestions for future topics.
Tuesday, August 28, 2012
Tuesday, August 14, 2012
How to Get Rich - Asset Numbers Not That Important
Have you ever wondered how much you have to have to be considered rich ?
Do you know how much you need to have to enjoy a comfortable life ?
Truth is, it isn't really about the asset numbers at all !
Number Obsession
If you ask any Financial Adviser or Financial Planner you will get a different number on how much you have to have saved to live the rich life. They all use formulas and future projections to show what they feel you will need to be comfortable.But really how accurate are these numbers they give you ?
The truth is, they are all making educated guesses as to what they feel the future will be like. No one really knows what the future will be like. If they did, I suspect they would already be on a beach somewhere enjoying all their own wealth.
Therefore, the numbers they give you should only be used as a guideline. Many times their number is higher than what you actually need. Remember, for the planners who sell investments, the more you invest with them, the more money they make as well.
Alternative Focus
As an alternative to reaching a savings or investment asset goal, I would suggest you calculate what your current living expenses are today. Now add an amount of additional income that would make you feel rich today. Use this rich income amount as a guideline for building your investments.
This rich income amount would cover all expenses associated with living your dream life in today's dollars.
In other words, what would you have to earn today to feel absolutely filthy rich ?
Now, subtract out your current net income. This difference will represent what additional income you need to generate to feel rich. You can now calculate how much of an investment you will need to generate this income. As an example, at a 10% yield you need to invest 10 times your additional annual income amount requirement.
Eventually, you will also want to replace your current earned income with passive investment income in order to free up your time to enjoy your wealth.
Simple But Effective
This approach is much simpler to calculate on your own without the help of an adviser. There is no need for complex computer software models and future unknown projections. You would simply repeat this procedure once per year to adjust your income targets as you go.
You will also find that you can start to enjoy a rich feeling much sooner as your income starts growing. One drawback of the traditional asset number building strategy is that you don't feel rich until much later in life. You really do owe it to yourself to feel good about your financial position as soon as possible.
Give this approach a try and you may find that you are closer than you think to realizing your future dreams and goals.
As always, I welcome your comments and suggestions for future topics.
Do you know how much you need to have to enjoy a comfortable life ?
Truth is, it isn't really about the asset numbers at all !
Number Obsession
If you ask any Financial Adviser or Financial Planner you will get a different number on how much you have to have saved to live the rich life. They all use formulas and future projections to show what they feel you will need to be comfortable.But really how accurate are these numbers they give you ?
The truth is, they are all making educated guesses as to what they feel the future will be like. No one really knows what the future will be like. If they did, I suspect they would already be on a beach somewhere enjoying all their own wealth.
Therefore, the numbers they give you should only be used as a guideline. Many times their number is higher than what you actually need. Remember, for the planners who sell investments, the more you invest with them, the more money they make as well.
Alternative Focus
As an alternative to reaching a savings or investment asset goal, I would suggest you calculate what your current living expenses are today. Now add an amount of additional income that would make you feel rich today. Use this rich income amount as a guideline for building your investments.
This rich income amount would cover all expenses associated with living your dream life in today's dollars.
In other words, what would you have to earn today to feel absolutely filthy rich ?
Now, subtract out your current net income. This difference will represent what additional income you need to generate to feel rich. You can now calculate how much of an investment you will need to generate this income. As an example, at a 10% yield you need to invest 10 times your additional annual income amount requirement.
Eventually, you will also want to replace your current earned income with passive investment income in order to free up your time to enjoy your wealth.
Simple But Effective
This approach is much simpler to calculate on your own without the help of an adviser. There is no need for complex computer software models and future unknown projections. You would simply repeat this procedure once per year to adjust your income targets as you go.
You will also find that you can start to enjoy a rich feeling much sooner as your income starts growing. One drawback of the traditional asset number building strategy is that you don't feel rich until much later in life. You really do owe it to yourself to feel good about your financial position as soon as possible.
Give this approach a try and you may find that you are closer than you think to realizing your future dreams and goals.
As always, I welcome your comments and suggestions for future topics.
Tuesday, August 7, 2012
How to Get Rich - Conquer Your Fears
Are you afraid to take a chance on something new ?
Are you afraid of losing money on an investment ?
If you answered YES, then you are part of the majority of investors today !
FEAR is a four letter word that prevents most people from becoming truly wealthy ! To excel at anything you do, you must first conquer your fear ! Fear is generated in the mind and is most commonly associated with doing something new for the very first time. Fear of the unknown so to speak is what stops many people dead in their tracks. Don't let FEAR stop you from achieving your dreams. Let me try to spell out a process for conquering your fears.
F is for FAITH
Before attempting to do anything, you must first believe that you will be successful. You must visualize in your mind that you have already achieved your goal. You must focus on the outcome and not the obstacles. It feels good when you are able to do this on a constant basis. Having FAITH before even starting on your adventure is the first step towards conquering your fears.
E is for EDUCATION
Once you know what you want to do, you must learn everything you can from others that have already done what you will be attempting. It can be very comforting to know that others have been successful and you can be too as long as you follow their lead. Don't try to reinvent the wheel so to speak. Utilize the knowledge of others to calm your fears.
A is for ACTION
Once you have learned as much as you possibly can, it is time to take action and just do it. Without taking action you will never succeed at anything. By taking action, you will be transferring your faith and education into something that is real. Yes, you can still make mistakes. However, without action you will never know how to achieve your goal or how to correct your mistakes. The process of taking action will also calm your fears as it will keep your mind focused on your goal.
R is for REPETITION
Yes, repeat, repeat, repeat. If at first you don't succeed, try and try again. Learn from each attempt and just do it again. Also once you become successful, you will now have the formula in place to repeat what you have done many times over. The more you do something, the more comfortable it will become. Remember when you learned how to ride a bike? Same idea exactly. If you repeat something often enough, it will become second nature. You know that you will be successful before you even start. Your FEAR has been conquered.
As always, I welcome your comments and suggestions for future topics.
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