Desire and Motivation

"Humans have the remarkable ability to get exactly what they must have. But there is a difference between a "must" and a "want."

The best motivation is self-motivation. The guy says, "I wish someone would come by and turn me on." What if they don't show up? You've got to have a better plan for your life.

When you know what you want, and you want it bad enough, you will find a way to get it.

Motivation alone is not enough. If you have an idiot and you motivate him, now you have a motivated idiot.

Without a sense of urgency, desire loses its value." -- Jim Rohn

PCC Dogs Investors

Portland Community College has been dogging a guy who wants to start a student based investment group.
PCC initially denied the group, then said, call such and such. Then such and such wouldn't answer her phone. Then there was a new student groups person, who hasn't answered emails from my friend for two weeks.

I do not see the problem with an investment club on a college campus. Stanford had an investment club.

Maybe the problem is with politics? Well, Buffett, Soros, and Peter Lynch are all left wingers, so what is the problem?

Between the Democratic Convention, and this incident, here's a toast, to a sheeple nation.

Tattoo Idea

I'm thinking about getting a tattoo that says:
"End the Nanny State"
I will put it on my back.
What do you think?

Financial Independence Forums

Here is a partial list of financial independence forums:

http://www.foryounginvestors.com/
http://www.retireearlyhomepage.com/
http://www.fool.com/
http://www.die-hards.com/
http://www.raddr-pages.com/forums/
http://finance.groups.yahoo.com/group/IndependentWealth/
http://www.richdad.com/

there is also:

http://www.facebook.com/home.php#/group.php?gid=2204912440
www.fastcompany.com
www.anthonyrobbins.com

there is also a live chat room at www.independentwealth.us

Sending Your Kids to a Private School

Sending your kids or grandkids to a private school can be an outstanding idea. I applaud you for considering the idea.
But private schools are expensive. You need to start saving, and investing immediately. You need to either start researching investments yourself, or, find an excellent financial planner to help you.
I cannot advise just getting deep into debt.
Take a look at www.independentwealth.us and see if we can help you there.

Passive Income Through Dividends

I saw on a list of etf's and mutual funds that "BIF" pays a 10% dividend.
You should ask your stockbroker about this one. Only a few Canadian funds pay out more than 10%. But you have to pay Canadian taxes.
If you want free information on early retirement and passive income, take a look at:
www.financialindependenceuniversity.com Visiting our site will save you a lot of time and money.

Value Will Win Out in the Long Run

Value Will Win Out in the Long Run, by Bill Staton

We urge you to take a look at this interview with Bill Miller, one of the great money managers of all time:

http://www.morningstar.com/cover/videocenter.html?bctid=1541038835&lineup=funds.

It's called "Contrarian Toughness." Actually, there are a number of other interviews with Miller, all short, all more than worth listening to if you'd like to sharpen your investment skills. You'll also end up with a much better understanding of what's really going on with the economy and stocks. Miller was named the greatest money manger of the 1990s and outperformed the S&P 500 for 15 consecutive years through 2005. We are unaware of any other manager any place on the planet that is able to lay ownership to that claim. Not even Warren Buffett, the world's richest person. If you do watch this short interview, about five minutes long,you'll note Miller comments that stocks making new highs, forthe most part, are in the momentum category. That is, thehigher they go, the more suckers there are who want to buy them. (Remember the hundreds of dotcoms that ultimately turnedinto dotbombs?) Take a look at today's new highs list in yournewspaper and see all the names you've never heard of.

Meanwhile, the new lows list is filled with the crème de la crème of American corporations. Names like AAA-rated Pfizer at a 15-year low. Bank of America, the nation's second-largest bank, hit a multi-year low yesterday. PFE has 41 straight years of higher dividends while BAC has 31. Yet both are the subject of speculation about their dividends being cut. The financials, especially, have been clobbered including American Capital Strategies/ACAS. The mainstream media and various and sundry talking heads tellus commodities are going to the moon, and it's the end of the world for banks and their brethren. Meanwhile Charlie Munger, Buffett's one and only investing partner, likes the prospectfor well-chosen financials a whole lot better. Whom should you believe?

Richard Pzena, a world-class money manager, believes Munger. He put together the chart above. Just a few years ago, it was smart to sell financials and buy commodity stocks. Today it's just the opposite. The current Barron's features an article by Michael Santoli who writes, "Extrapolating the horrid 2007 mortgage-loss experience far overstates the likely ongoing level of pain. The salient indicators of credit-market stresses are all far more benign today (than in mid March) from the corporate swap spread to Fannie Mae spreads. And the yield curve is steeper, thus more favorable. "Michael Darda of MKM Partners notes that while bank stockshave fallen about as much as they did before bottoming in the1989-90 recession, the yield curve, federal-funds policy andother capital-markets conditions are far more favorable now.

Now let's turn to housing. Why would a director of Home Depot, which has been struggling earningswise for more than two years, buy $18 million-plus of the stock last week? What does he know that the average investor doesn't?

Housing has become incredibly affordable compared to just oneyear ago. The average mortgage payment of the typical home isabout 20% less. Last July the median price of an American homewas $230,000, and a long-term mortgage was around 7%. Today that same home is $200,000 with long rates closer to 6%. That would take the monthly mortgage payment to under $1,000 from a little over $1,200 just 11 months ago.

Home Depot is a value. Ditto for American Capital. And Bank ofAmerica. And Pfizer. And the other nine stocks in The Baker'sDozen Guided Portfolio®. Arne Alsin, a columnist for The Financial Times, wrote this onMay 24. His words should be taken to heart by us all:"If you're like many investors, you look at the falling priceand it makes you nervous. In your mind, it means you made amistake. You worry that the stock price may fall further. Andso, if you're like a lot of investors. You sell. "It is always a mistake to sell because of a decline in price.Why? Because price, by itself, is meaningless. Price drives perception. If the price goes down, something must be wrong. Sell the stock. If the price goes up, enthusiasm follows. Buy the stock. "But what really counts is values notes Alsin.

"Those who understand value enjoy a significant edge," heconcludes

Become a Millionaire

If you want to be a millionaire, the first thing you should do is cut your expenses. Cut unnecessary spending as much as possible. Consider this Dave Ramsey quote:

"...the average car payment is $378 over 55 months. Most people get a car payment and keep it throughout their lives. As soon as a car is paid off, they get another payment because they 'need' a new car. If you keep a $378 car payment throughout your life, which is 'normal,' you miss the opportunity to save that money. If you invested $378 per month from age 25 to age 65, a normal working lifetime, in the average mutual fund averaging 12 percent (the 70-year stock market average), you would have $4,447,084.01 at age 65. Hope you like the car!"
I think that covers the problem of overspending.

If you want more wealth quicker, consider going back to school or training for a better job. Consider a business degree or a real estate program. There are a lot of career options. Apply to local state and community colleges first. Most public colleges offer online courses.
If you save a reasonable amount of money, you can hire an excellent stockbroker and/or start your own real estate holdings corp. Ask your broker about small cap stocks for aggressive growth, and ask about companies that do a lot of research in disruptive technology. If you win big, you could well become a millionaire.
Form a mastermind alliance. If your mastermind functions in a spirit of unity and harmony, the potential of your success soars. Borrow ideas that work from your mastermind. Your mastermind alliance members will be your guides in uncharted territory.
If you live below your means, expand your means, and invest the difference, you have found the key to becoming a millionaire.

David K Drews runs http://www.independentwealth.us - a site that offers help in planning your escape from the rat race. The best info and products for your financial journey are available at http://www.independentwealth.us

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

Recruiting for Your Mastermind

A mastermind can begin with only two people. But where do you find more members? Try online forums, unemployment offices, look up old ambitious friends, invite a good, and positive leader that you know, attend seminars, go to a local Rich Dad club, or, go to an investment club. Here's an idea. Strike up a conversation with someone you know is also trying to put together a mastermind. Find a person who is positively out of step with the masses, and invite him/her. You could recruit a multilevel marketer who can actually get by exclusively on their MLM income.

You have to be a leader to recruit. Be the man or woman with a plan. Be personable. Be a coach. Even if you are a leader, with coach like skills, you will encounter negativity, fear, complacency, and my favorite: what are the guaranteed benefits and income? Some people are kinda out there.

Who do you want to recruit? I cannot say. Recruit people similar to you. People with similar goals. Here are some possible traits of potential mastermind members:
1) Driven 2) Ambitious 3) Audacious 4) Thorough planner 5) Good communicator 6) Thorough knowledge of the market(s) you are in 7) Has an excellent attitude 8) Entrepreneurial. Is already in business 9) Someone with good accomplishments, and wants financial independence. 10) Specialized knowledge

Don't kid yourself about the person's capacity, attitude, etc. You could take on a project, though.
Be fully prepared to follow through on your plans of developing your mastermind. Remember, a leader has a plan. So, make sure you are prepared to execute, and improve your plans, using the feedback from your mastermind.

David K Drews runs http://www.independentwealth.us a site that offers help in planning your escape from the rat race, and help with finding the best info and products for your financial journey. There is a chat room for recruiting for your mastermind.

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

The Key to Motivation

Your Real Goal

Your goal is to become a transformational leader, the kind of person that motivates and inspires people to perform at levels far beyond anything that they had previously thought possible.

Keep People In the Know

Transformational leaders empower others by keeping them "in the know," by keeping them fully informed on everything that effects their jobs. People want and need to feel that they are "insiders," that they are aware of everything that is going on. There is nothing so demoralizing to a staff member than to be kept in the dark about their work and what is going on in the company.

Give Regular Feedback

One empowering behavior practiced by transformational leaders is regular feedback on performance and results. People need to know how they're doing so they can improve if performance is below standards and so that they can be proud of their successes. The more feedback you give to people, the better it is, as long as the feedback is objective and not critical. My friend, Ken Blanchard, says that, "Positive feedback is the breakfast of champions."

Be Generous With Praise

Be generous with your praise and encouragement. Remember, people are the only asset that can be made to appreciate in value by giving them warmth, respect, approval and by creating a climate of positive expectations.

Create An Exciting Future

What companies and countries and institutions need today are courageous visionary leaders who are committed to creating an exciting future for themselves and others. You have within yourself the ability to evolve and grow as a leader and to make a real difference in the world around you. And the one thing you can know for sure about yourself is that, no matter what you've accomplished up to now, there is far more that you can do. As you practice the behaviors of effective leaders, you will grow more and more toward the realization of your full potential. It's completely up to you.

Action Exercises

Here are two things you can do immediately to put these ideas into action in your work.

First, hold regular meetings with your staff and tell them everything that is going on. Invite their comments, questions and concerns. Make everybody feel as if he or she was an insider in the organization.

Second, continually look for opportunities to give positive feedback, praise and encouragement. People need praise and encouragement like roses need rain and sunshine. Take every opportunity to make people feel better about themselves and their work.

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