What can you do to generate real wealth? Let me give you some ideas.
- Borrow at a low interest rate and invest at a much higher interest rate. You can also borrow the currency that is or you believe will decline in value. If your investment appreciates as the currency drops in value, this is a good thing.
- Do people ask you to do work for them or offer to pay you to do something you are good at? Maybe you should start working for yourself. Keep an eye out for mooches and cons who want you to take shitty jobs for low pay. Mooches will deliberately lie on message boards and other sites.
- Start researching tech and biotech stocks.
- Turn your blog or other writing into a paperback book.
- Get certified to do specialized work. This is probably better than getting a degree.
- Invest a percentage of ALL money you earn no matter what. Do this for a decade and I bet you'll be pretty happy with the results.
- Get in a MasterMind group, whether a permanent one or a hastily thrown together one and learn firsthand a new skill that makes money. Give something in return.
- Throw your whole self into your passion. Be unreasonable.
- Learn about options strategies, like the Iron Condor. Talk to people who buy options rather than people who don't invest at all.
Showing posts with label rags to riches. Show all posts
Showing posts with label rags to riches. Show all posts
Thursday, February 13, 2014
Friday, May 30, 2008
Go From Rags to Riches
The first thing you want to do, in order to go from rags to riches is set goals.
Set reachable short term goals in every area of your life. Then, set your definite major purpose. Your definite major purpose will probably be to have one or two million dollars in assets.
Take action on your goals every single day. As Dave Ramsey puts it, get “Gazelle intense”, as Tony Robbins puts it, “total focused intensity”.
The next thing to do is live as far below your means as you can. Quit financing things. Do not waste any money. Make a budget. Quit smoking. Tell your mooch buddies to take a hike.
Next, work your heart out. Take on extra hours and extra responsibility. Be prompt. Don’t be a pain. Don’t be a slacker.
Now after you get used to all the stuff mentioned above, start studying, reading, and listening to audio CDs. You need to study small business management, investments, including stocks and real estate, business law, and anything else that will help you in your career or in managing passive assets. Get a library card and enroll in classes if you can swing it. Why should you do this? Because if/when the cash starts to come in, you need to know how to put it to work for you in passive businesses and investments. Don’t do bad deals or get ripped off and lose your hard earned money.
Think about your dreams. Your dreams have to be semi real. What would you love to do as a career or business? Learn all you can about whatever it may be. If you have an idea that could become a real business, then research and test your ideas. If your venture fails, you will still have gained knowledge and experience which you can use over and over. The real losers never take action!
Next, open a Roth IRA or the type of retirement account that is offered in your country. Do not worry if you cannot maximize the contributions at first. Save what you can in your Roth and also start to build an emergency fund. Financial councilor/talk show host Dave Ramsey calls emergency funds “Murphy Repellant”, an excellent analogy. Don’t let Murphy back in your life.
After your little nest egg reaches sufficient size, find an excellent broker. Never touch your principle!
Another thing to do is to improve your peer group. Ditch the go nowhere crowd. Let people laugh at you. You may well be kept down by a bad peer group.
Consider forming a mastermind alliance.
Don’t make excuses. Take responsibility for your life and take action every day. If you need help don’t be afraid to ask for it.
Be different from the masses. Take charge of your life now and get started. Many people never succeed because the afraid to start small.
Set reachable short term goals in every area of your life. Then, set your definite major purpose. Your definite major purpose will probably be to have one or two million dollars in assets.
Take action on your goals every single day. As Dave Ramsey puts it, get “Gazelle intense”, as Tony Robbins puts it, “total focused intensity”.
The next thing to do is live as far below your means as you can. Quit financing things. Do not waste any money. Make a budget. Quit smoking. Tell your mooch buddies to take a hike.
Next, work your heart out. Take on extra hours and extra responsibility. Be prompt. Don’t be a pain. Don’t be a slacker.
Now after you get used to all the stuff mentioned above, start studying, reading, and listening to audio CDs. You need to study small business management, investments, including stocks and real estate, business law, and anything else that will help you in your career or in managing passive assets. Get a library card and enroll in classes if you can swing it. Why should you do this? Because if/when the cash starts to come in, you need to know how to put it to work for you in passive businesses and investments. Don’t do bad deals or get ripped off and lose your hard earned money.
Think about your dreams. Your dreams have to be semi real. What would you love to do as a career or business? Learn all you can about whatever it may be. If you have an idea that could become a real business, then research and test your ideas. If your venture fails, you will still have gained knowledge and experience which you can use over and over. The real losers never take action!
Next, open a Roth IRA or the type of retirement account that is offered in your country. Do not worry if you cannot maximize the contributions at first. Save what you can in your Roth and also start to build an emergency fund. Financial councilor/talk show host Dave Ramsey calls emergency funds “Murphy Repellant”, an excellent analogy. Don’t let Murphy back in your life.
After your little nest egg reaches sufficient size, find an excellent broker. Never touch your principle!
Another thing to do is to improve your peer group. Ditch the go nowhere crowd. Let people laugh at you. You may well be kept down by a bad peer group.
Consider forming a mastermind alliance.
Don’t make excuses. Take responsibility for your life and take action every day. If you need help don’t be afraid to ask for it.
Be different from the masses. Take charge of your life now and get started. Many people never succeed because the afraid to start small.
Go From Rags to Riches
This is an article I wrote a couple years ago. I plan to revise it soon.
If you are stuck in the rat race and getting kicked around by life, I ay be able to help you! There just may be hope.
The first thing is you have to set goals. Set goals that are worthwhile, realistic, but something you must really stretch yourself for. Set short term and long term goals. Set health goals, debt reduction and savings goals. Set any goal you need to set and write the goals down. Take a hard look at what you have to do to improve yourself enough to reach your goal. Be honest with yourself.
The second thing to do is to turn your drive time into learning time and turn idle time into learning or working time. Search for ideas you can apply to your situation. Take notes on your reading. Read about successful people and start to do some of what they do. Having good role models is important.
The third thing to do is to start a long term savings plan. Complement this plan by selling unwanted items and collectibles and then build an emergency fund, and/or invest. Make a detailed budget and figure out what you can save each payday. Don’t put 100% of your spare funds into your IRA. Have an emergency fund. Your IRA cannot be your emergency fund. If your job does not pay a livable wage, start search for a new or second job or start a small business on the side.
One of the most obvious things to do is to try to get a raise. Resolve to always be punctual. Try to improve your appearance. Don’t turn into a neurotic or pathological nut trying to catapult herself to CEO of the business. Just do a good job. Get a little bit better every day.
After saving up some money, having some goals under your belt and having a better reference from your employer, start learning new skills. Learn skills that will help you find your new job. You may want to learn computer programs, sales, Spanish, accounting, get the nuts and bolts of a skill and add the skills to your resume. Focus on something lucrative and focus on a field that is growing.
Be persistent. Don’t let one setback or a series of setbacks stop you! Keep plugging away. Don’t get frustrated or bent out of shape. Good luck!
David K Drews runs http://www.independentwealth.us/ a web site that will help you get out of the rat race. http://www.independentwealth.us/ offers a fairly large online community where you can make contacts and find motivation.
Article Source: http://EzineArticles.com/?expert=David_Drews
If you are stuck in the rat race and getting kicked around by life, I ay be able to help you! There just may be hope.
The first thing is you have to set goals. Set goals that are worthwhile, realistic, but something you must really stretch yourself for. Set short term and long term goals. Set health goals, debt reduction and savings goals. Set any goal you need to set and write the goals down. Take a hard look at what you have to do to improve yourself enough to reach your goal. Be honest with yourself.
The second thing to do is to turn your drive time into learning time and turn idle time into learning or working time. Search for ideas you can apply to your situation. Take notes on your reading. Read about successful people and start to do some of what they do. Having good role models is important.
The third thing to do is to start a long term savings plan. Complement this plan by selling unwanted items and collectibles and then build an emergency fund, and/or invest. Make a detailed budget and figure out what you can save each payday. Don’t put 100% of your spare funds into your IRA. Have an emergency fund. Your IRA cannot be your emergency fund. If your job does not pay a livable wage, start search for a new or second job or start a small business on the side.
One of the most obvious things to do is to try to get a raise. Resolve to always be punctual. Try to improve your appearance. Don’t turn into a neurotic or pathological nut trying to catapult herself to CEO of the business. Just do a good job. Get a little bit better every day.
After saving up some money, having some goals under your belt and having a better reference from your employer, start learning new skills. Learn skills that will help you find your new job. You may want to learn computer programs, sales, Spanish, accounting, get the nuts and bolts of a skill and add the skills to your resume. Focus on something lucrative and focus on a field that is growing.
Be persistent. Don’t let one setback or a series of setbacks stop you! Keep plugging away. Don’t get frustrated or bent out of shape. Good luck!
David K Drews runs http://www.independentwealth.us/ a web site that will help you get out of the rat race. http://www.independentwealth.us/ offers a fairly large online community where you can make contacts and find motivation.
Article Source: http://EzineArticles.com/?expert=David_Drews
Wednesday, April 16, 2008
The Pursuit of Happyness
Besides Mark Cuban's blog and Tony Robbins' financial freedom CD, you can rent "The Pursuit of Happyness" on dvd. The Pursuit of Happyness is an excellent account of a struggling salesman (Chris Gardner) who becomes a stock broker. The Pursuit of Happyness ends when Gardner (played by Will Smith) is hired to be a broker. The dvd is very good. Chris Gardner's story is up there with Tony Robbins and Mark Cuban. So go rent it.
Monday, April 14, 2008
Book Review - Brian Tracy _ Goals
Goals, by Brian Tracy, is an out of this world manual on goals. The 21 chapters cover everything you could possibly ask about goal setting. Brian teaches you to achieve personal, financial, and professional goals. The chapter on using your super conscious mind was truly compelling and worth reading. Brian also chronicles his rags to riches story in this book. Brian's personal story is up there with Tony Robbins and Mark Cuban. I have read the book twice and plan to get the audio download soon.
You can't go wrong on with this book. Goals is available in the bookstore at http://www.financialindependenceuniversity.com/.
You can't go wrong on with this book. Goals is available in the bookstore at http://www.financialindependenceuniversity.com/.
Sunday, April 6, 2008
A Story You Have to Hear
A few posts ago, I gave you the link to Mark Cuban's blog, where Mark tells us the story of how he went from rags to riches. That was really good and if you have not read the blog, go back and read it. But if you want to hear a rags to riches story that is just as good, look at the CD pictured at www.financialindependenceuniversity.com You will love this affordable CD!
Tuesday, March 25, 2008
Unbelieveable Blogging!! A Must Read
This is the most motivational blog I have ever read. Only Tony Robbins rise to the top is as good. This is a must read for success gurus. Now read billionaire Mark Cuban's rise to the top!
http://www.blogmaverick.com/2007/12/24/success-and-motivation/
http://www.blogmaverick.com/2007/12/24/success-and-motivation/
Subscribe to:
Posts (Atom)
Posts
