Saturday, January 30, 2010

Choosing Your Passive Income Vehicle

Real wealth and financial freedom is not created from a single source, at least not most of the time. It comes from developing numerous income streams, mostly automated, that together accumulate to be a huge income. Passive income is absolutely something that is attainable by all of us. Most people simply do not know what passive income is or how it is created, and therefore they spend a lifetime working and never get ahead. The beginning of financial success then starts by developing an understand of passive income and how it is created, and as you do that, you will equip yourself with the necessary wealth building tools.

When it comes to creating automated streams of income, the sky is truly the limit. Money can be earned in so many ways, and with just a little ingenuity you can automated the process. There are two basics types: Business Passive Income and Investments Passive Income. Learning a little about these two forms of passive income, business and investing, will give you the skill of being able to spot money making ventures wherever they are. In fact, once you get savvy about passive income and all of the methods in which it can be created, you will see more opportunity that you will ever have time enough to pursue, and you will have everything you need for a life of prosperity.

Do you like to spend money or invest it? Most people like to spend their money, but financially successful individuals view every dollar as a "seed" that they can plant that will produce more dollars over time. When you put your money into an investment vehicle that will grow and multiply your money, you have created a stream of automatic income. You can work hard now, and if you invest your money it will begin to work for you, earning you money over and over again. Once your money is working hard enough, you will not have to anymore. You can invest your money into a number of financial instruments like stocks and bonds, mutual funds, money marketing, t-bills, and owning appreciating assets. Owning rental properties and storage units can also be great ways to invest your money to work hard for you.

Investing is a great form of passive income, as is business. Automated income can be produced from just about any business, and simple business systems can be set up and used by anyone. This is a great idea for wealth seekers who are just getting started and do not yet have enough money to invest to produce a substantial return. There are many ways to start income streams online with little or no money. For example, you could start a website or a blog, develop an ecommerce storefront through Cafe Press of Amazon, or join a network marketing program. Many fortunes have been made by individuals who create their own informational products like ebooks and sell them online. You can do the same and you can use them to create multiple streams of income. Building a mailing list can also be very profitable, especially if you have your own business and your own products to sell.

Ben is a young entrepreneur who has several successful businesses under his belt, and enjoys sharing information on a wide range of business, financial, and entrepreneurial topics. Visit Passive Income Pro and the Passive Income Blog

Article Source: http://EzineArticles.com/?expert=Ben_Frank_Jr.

Warren Buffett - 3 Surefire Ways to Get Rich in a Recession

As a student of business I am always keeping my eyes on the moves of what those who possess the success I desire are doing! What are they thinking about the current financial opportunities and what are they doing with their money and time!

I subscribe to the philosophy that your life mirrors those whom you spend the time most time studying and emulating!

That said during the onset of the recession Mr. Buffet did something unlike anything he has ever done in his entire business career! He actually thrust himself into the spotlight and began talking more than ever and giving out advice to every television reporter and newspaper journalist that would listen.

He took out a full page ad in the The Wall Street Journal urging the savvy business people of America to wake up and realize that during this recessionary climate was the opportune time to position yourself for long term wealth. He spoke of the immense financial fortunes built during and subsequently just after the Great Depression and he admonished people to not squander this grand opportunity to change the course of their families financial futures!

Unfortunately, most people totally missed the boat as he did interview after interview and went all over the country and world for that matter espousing the virtue of investing when there is "blood in the streets!" In his words, "you need to be buying when everyone is selling everything they have as cheap and as fast as possible!" He then specifically went on to give details into how anyone could amass a fortune quickly in the midst of the recession if they did this one thing!

What you ask? Mr. Buffet said in simple terms that if you would like to make a flat out fortune in the next 3-5 years then you need to position yourself in 1 of 3 recession proof industries that always thrive regardless of economic cycle. Those 3 industries are as follows:

Tobacco
Alcohol
Coffee

Now to most people it seems odd that one of the richest men in the world would say invest your time, money and efforts over the next few years into one of these (3) key recession proof industries! Well coming from Warren Buffet that sounds wisdom but let's validate it with some social proof just for good measure!

Think about the last time you saw cigarettes prices go down, if ever! Probably not, I am sure. In addition to that, they continue to raise the prices with cigarettes now being as high as $8 a package I think. As for alcohol, I think we all know how huge that industry is and I needn't really get into that very much. Lo and behold, our last industry which is coffee, just happens to be a $90 billion dollar industry that employs over 12 million people!

After hearing Mr. Buffet, I began an in-depth study that has proved to be my most profitable business investment yet with it continuing to pay huge dividends! You see coffee is the 2nd most traded commodity in the world only behind oil and as someone who lives in the oil industry mecca of Houston, Texas I am very familiar intimately and financially with how much money is in the oil business. So to think that I am now involved in the manufacture, distribution and sale of the 2nd most traded commodity in the world is simply an amazing thought!

Coffee is also a universally accepted and consumed product with it being the 2nd most consumer product in the world, led only by water! (It takes water to make coffee!) It was at this point I began to really understand the genius of Mr. Buffet and it also helped me easily identify why he is a billionaire!

With that I sprung into action and discovered a way to help over 40 people in the 12 months retire financially free and fire their bosses!

Take Action Now

Article Source: http://EzineArticles.com/?expert=Tyron_Mcdaniel

Tuesday, January 26, 2010

20 Things I Wish I Knew When I was 20

Success seems to be an elusive treasure for many. There are some many ways to attain it yet most of us get caught up trying to figure it all out ourselves. This leads to a great deal of lost time to gain the "experience" needed to be successful. Looking back, I wish someone had put together a list of hard facts that were true in life. Since it was not done for me, I would like to share my list of success "truths".

1. Success is easier with a team:

Success is not created in a vacuum. It takes the efforts of many people to make one achieve anything great. The most successful people have partners, coaches, teammates, and co-workers who all have a hand in the final outcome. Also, our the level of success that is possible increase substantially when we enlist the abilities and efforts of others. As Marc Victor Hanson likes to say "one plus one is an eleven folding of talent". Create a team with the best people that you can.

2. Opportunities are everywhere:

Everywhere there is a problem, there is an opportunity. The world is full of challenges that are waiting to be solved. As we proceed forward, now obstacles are created daily. Huge fortunes are being made by people taking the initiative to solve these problems. Society needs someone to build a better "mousetrap" and that person is you. Look for the opportunities in your life that are offered to you.

3. You get more in life by saying "yes" than by saying "no":

This is one of Richard Branson's sayings. Fear is a powerful influence in life. It causes us to make decisions that are not always in our best interest. Often we turn down opportunities which will raise our lives to a new level. Saying "yes" to life allows us to engage in the wonders of it. There is more that is gained by going forward then by standing still. Certainly we will lose at times. But overcoming the fear of loss is what will set us free. Begin to say "yes" to the opportunities that are presented in your life.

4. Like attracts like:

Physics talks about energy on the same frequency being attracted to similar energy. This is true for our outlook. Positive attitudes garner positive results. Negative attitudes create gets the same outcome. To get more positive results in life, spend more time with a positive attitude. This will attract the desired results into your life.

5. The path to success is already laid out:

Reinventing the wheel is a waste of time. Unlike we were taught in school, copying is a good thing. People have already paved the road to success. Simply learn the actions and procedures they took while following suit. Every industry has a model that sets the process for achievement. Life becomes much simpler when that is uncovered.

6. Have fun:

It is easy to get caught up in all that we have to do. Responsibilities mount the more success we achieve. It is important to have fun at every stage of life. Too often people delay their joy until they arrive at a specific destination. Taking the time for ourselves is crucial as holistic selves. Lighten up and take things a little less seriously.

7. Work smarter, not harder:

Digging ditches is hard work yet it is not a well compensated trade. The world pays more for mental power than it does physical. Try to determine ways to systematize the things you need to do to free up yourself. The nobility is in working smarter, not harder.

8. Things do not equal happiness:

The richest are not always the happiest. The accumulation of things is wonderful. However, it is imperative that we keep in mind what is important. The happiness that "things" give us is temporary. Happiness is a state that comes from within us; it rarely comes from the outside.

9. Who cares about the Joneses:

How much time do we spend trying to "keep up with the Joneses"? Our egos are often tied to the opinion of others. Be your own person. Ignore what others think about you. It is best to pursue endeavors which fulfill us. Too many attend to those things that other people want them to. Live your life according to how you see fit.

10. There is always something to be grateful for:

No matter how bad things are in your life, there is always something to be grateful for. Gratitude is a wonderful tool for getting us out of the doldrums. Looking at the positive aspect of situations will always help bring the undesirable effects to an end quicker. Remember, there is always someone else who is worse off than you.

11. Everyone has their time in the "barrel":

To listen to people talk, you would think that they were the only ones with problems. The truth is that everyone has circumstances which they go through that are not pleasant. Illness, financial difficulty, and death affect most people at different stages of their lives. Resist the temptation to think that you are special in this regard. When negative circumstances arise, move forward knowing others are succeeding in dealing with similar issues.

12. Plan your life and live your plan:

I love the analogy to taking a trip across country without a road map. This is something that most would never consider doing. Yet almost all will approach their life without a forethought to where they would like to go. In fact, people spend more time planning their vacations than they do to plan their lives. Studies have shown that individuals who set down goals with a written plan for their achievement attain a far greater degree of success than those who fail to do so.

13. Failure is our best teacher:

Failure is a tough thing to go through. However, it can be our most beneficial experience. Successful people all seem to have had their share of failures. It is the lessons from these situation which makes them so valuable. Take the time to analyze why things turned out how they did and resolve not to make the same mistake. This is where life prepares us for the next challenge.

14. Most people are willing to help:

We feel we need to do it all on our own. This stems from the belief that most people don't care. The truth is that most people are willing to help wherever they can. People, at their basic core, are nice. They want to contribute. It makes us feel good to help another. Rid yourself of the desire to do it all on your own and ask others for help. You will be surprised at the warm response you get.

15. The starting point is irrelevant:

There are hundreds of stories of people who started from the worst circumstances only to achieve greatness. Individuals who blame their surroundings for their lack of success are using this as a crutch. There are opportunities in all areas of life for those who are willing to go after them. It is where you are going that is important, not where you start from.

16. Everything starts as a thought:

There is nothing that mankind has made in this world that did not start as an idea in someone's head. Everyday, we each have ideas which are mostly dismissed. Capturing one of those ideas can change how the world operates. Also, having the right mindset will do more to ensure our success than any other attribute. Pay attention to what takes place within your own head.

17. We all have more talents than we can uncover:

Everyone on this planet is created with an incredible amount of ability. Yet we often believe that we "can't do anything right". This is negative conditioning allowed to ruin our lives. There is an unbelievable skill within you at this present moment. Beginning to say "yes" to opportunities in life will uncover what those talents are. Often we do not realize what we are capable of until we are forced into a tough situation.

18. Everything is perspective:

Even though you will swear it to be the truth, it is really only your perspective. Our viewpoint is usually what determines how we process things. Is the glass half full or half empty? Both answers are correct, depending on your perspective. Remember this whenever you are determined to make yourself right and someone else wrong.

19. Tap into your true self:

Some call it passion, others life purpose. Whatever the term, there is something in life that only you can perform. Spend some time seeking out what it is. All greatness comes from this place. Do not worry about the financial compensation. People who tap into their true essence while releasing their talents on the world are well paid. Find out what it is and follow it.

20. You can make a huge difference:

There is no limit to the impact that you can have. Many of the greatest figures in history were from the humblest of beginnings. They were average people who took extraordinary action when called upon. You can do the same thing. The ideas that you have right now can impact thousands, if not, millions of lives. Begin to accept this as your reality.

Here is the list of ideas which I feel will lead anyone to success. See how many you can implement into your life on a daily basis. People who have done so report an incredible increase in their success, happiness, productivity, and freedom.

Posted by Baraka Mfunguo at Tuesday, January 26, 2010

Thursday, January 21, 2010

More Thoughts on Becoming a Billionaire

I have a few more thoughts on becoming a billionaire.

Learn leadership by being a leader at work, in college, on the campaign trail, etc.
Often times, the leadership you will be taught in school is left leaning. If capitalism is evil, how are you to become a billionaire? Colleges are there to make money, not to make you money.
Learn to lead yourself first.

You have to manage risk and you have to take calculated risks. There is no way around this one. Wealth with work or risk is impossible.

Quit talking to sheeple who compare investments to casinos. There is very little comparison.

Here's an idea: sell investments. If you owned a mutual fund company, you have a good shot at becoming a billionaire. Look at the Forbes 400 and see how many billionaires own investment companies.

The best idea as far as becoming a billionaire goes is: get started. Put the law of accumulation to work for you and get started. Keep moving towards your goal.

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Fast forward through the school of hard knocks and visit renegade u right now.

Random Thoughts on Becoming a Billionaire

You need to be a self starter.
You have to be self motivated.
You have to motivate others.

Having a law degree will help you become a billionaire. With a good salary from a law firm, you can acquire businesses. Storage and coin op laundries are the first two businesses I would look into (speaking for myself). After you have your own firm or are freed from the rat race, you could look into your own original business.

To make billions, look into fields that are going to radically change things. Think of how the Internet changed things. What do you think will change things in the near future? Start investigating.

Like I wrote in my last post, you need a mastermind alliance to provide support and accountability, etc. Some advisers and councilors are a complete waste of time. Find people with experience on the street and get them to help you.

Take a look at www.renegadeuniversity.net and check out our free info and browse the best business and investing books.

Become a Billionaire

If you have the desire to become a billionaire, that makes you evil to many people. I would form a mastermind of like minded people for a support network.

You need to be very resolute in your decision to become a billionaire. You will encounter all sorts of roadblocks and resistance. Don't listen to dumb opinions.

One question to ask yourself is who are your customers? A product or service will need customers to be successful. You need to constantly look for customers.

Focus on making money. Focus on the bottom line. Focusing on petty, inconsequential things will not make you a billionaire. Outsource and delegate things that should be done, but are not high value activities.

Learn to sell. You have to be able to get investors. You need customers. You need the cooperation of many people. Being able to sell goes a long way.

Accumulate capital. You will need money to buy back shares, make acquisitions, and survive rough times.

More later,

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