Tuesday, December 25, 2012

How to Get Rich - Pause and Reflect

Are you happy with where you are today ?

Are you satisfied that you have done all that you can do to better yourself ?

Chances are you have not consciously thought too much of the above !

Take a Pause 

During the seasonal holidays is a good time to take stock so to speak. This is a time that there is a natural pause in your everyday busy life. This makes for an excellent time to take a pause and have a good hard look at where you stand today.

Take a look backwards in time and write down everything that you have accomplished in your life. Hopefully there are a few things on your list that make you proud and give you a good feeling inside. It is very important to stop and give yourself a good pat on the back so to speak.

There is nothing wrong with taking pride in your past achievements as long as you don't go overboard with the celebration. In other words it is better to keep your celebration more inwards than outwards if you want to keep your friends. Modesty is the best policy when it comes to pride. Keep it mostly internal.

Reflect Yourself 

Imagine looking at yourself in the mirror. Do you like what you see or are there improvements that you would like to make? During your pause, write down all thing that you would like to change. Inner change is where all outer actions start from. Keep this list personal for your eyes only.

From this list decide what is the most important change you would like to make. Make it a goal of yours to make this change by the next pause that you take.This could be a year from now or sooner if you like. Once this is done move onto the next item on your list and repeat.

Keep Current

Of course each pause you take will see a different reflection of yourself. This is because time changes everyone. Your list will need to be updated at each pause to keep current with your life.

Outside influences can strongly affect our inner reflection. As we react to what others want us to do we develop a new self whether we like it or not. As a survival instinct we learn to adapt in whatever ways we can.

The methods you use to adapt will change your inner reflection to become more positive or more negative towards your future desires and dreams. It is your methods that you can control to reach out to the positive and get closer to your desired self.

Success is Within

Whatever success you have had in the past and whatever success you will have in the future has come from and will come from your inner self. How you feel about yourself is all that really matters.

Taking pause and reflecting on your inner self is truly the most important step in getting what you want out of life. Time is always changing and so can you. To your success.

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

Tuesday, December 18, 2012

How to Get Rich - Learn the Top Real Estate Rule

Do you know the most important Real Estate rule ?

Do you think the rich neglect to use this rule ?

Chances are you probably don't and no they never neglect this rule !

Number One Rule 

The number one rule for buying real estate is not how much you pay or how much you can charge for rent, although these are very important too. The number one factor to consider when buying any Real Estate is location. Whether you are buying your personal residence or an income property, location should always be the number one factor to consider.

The reason is actually quite simple. Location is pretty much the only thing that you cannot change. You can renovate this or renovate that in order to increase your rent or the value of the asset. But if you buy a property in a bad area, there will be nothing you can do to increase your value. You will be stuck with it and chances are you will lose money.

How to Avoid the Mistake

Many newcomers to Real Estate investing do make the mistake of buying in the wrong areas. They are usually so excited about getting into Real Estate that they forget to do their homework. Yes, homework.

To avoid buying in the wrong areas you need to do your research. You should never just look at the cheapest thing you can buy. There is usually a very good reason the property is so cheap. Location usually topping the list.

One important fact to research if you are buying an income property is the crime rate of a given area. No matter how rich or poor a potential tenant is, nobody will want to live in a high crime area. For a personal residence, crime is also very important. Safety for yourself and/or your tenants should always take priority.

Two other important facts to research are the true value of the property and the potential for growth in the area.

You must look for areas that have a reasonable expectation for future growth. There must be a reason why people would want to move into the area. Future development, close to good jobs, good transportation, etc.

You must also make sure never to pay more than the current worth of the property if you were to sell it today. Never fall in love with a property or an area to the point where you pay too much. Some day you may want to sell the property and you have to make a profit. That's the whole point of investing.

Really That Important

Yes, location is really that important ! In fact it is so important that many real estate seminars list the top three factors for buying rel estate as location, location, location.

As I mentioned earlier, location is the one thing you cannot change about your property. You will be stuck with it, so you had better do your research before making your offer. Otherwise, you could have a very short Real Estate investment career.

Life really is all about the choices that you make. Choose well.

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

Tuesday, December 11, 2012

How to Get Rich - Embrace the PSY Effect

Have you ever heard of the Korean rapper PSY ?

Do you know of his big Youtube hit "Gangnam Style" ?

Unless you live on another planet you probably answered YES !

World Sensationalism

Several months ago hardly anyone had ever heard of this group. However, thanks to the extreme power of Youtube, they are now a household word.  Even more, you see their dance moves everywhere.

This kind of worldwide stardom can now happen to anyone at anytime. I have seen the strangest things on Youtube with millions of views. It demonstrates what a great world of opportunity we live in today.

How Does it Make You Rich

Directly, it doesn't obviously. However, you can use this example of extreme success as a beacon for your future efforts. You can look at this real life example and know that absolutely anything is possible in the world we live in today.

Whenever you get discouraged or frustrated with what you are trying to achieve, think of this example. I personally have watched this video many times and each time it has lifted my spirits. If you haven't already, I suggest you give it a try.

By embracing the effect this video has had on the world, you can now bolster your determination to achieve whatever goals you have chosen for your future. You can truly dream whatever dream you want and know for a fact that anything is possible.

Add Another Income Stream  

Of course, you can always try to become the next internet sensation yourself as well. Why not ? If you have an idea for a video that you think may catch on, give it a try. You can upload videos to Youtube for free. Add an advertisement and away you go. What have you got to lose ? A bit of your time is all.

Forget about buying someone else's rehashed business ideas. Make your own ! There has never been a better time to be creative and to test your creativity for free. The world awaits you.

Part of a Balanced Plan

If you do try the above, don't let the idea consume you to the point you forget all else. You still need to follow your original plan for achieving your dreams. Your above idea should only form a portion of your total overall income plans. One of many streams of income that will provide you with a rich and rewarding future.

Whatever you plan to do to build your future wealth, remember to use this example as a beacon to encourage you that anything is possible in this wonderful world we live in today. To your success.

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

Friday, December 7, 2012

How to Get Rich - Become a Santa Grinch

Do you enjoy the sense of giving during the holidays ?

Do you enjoy going into huge debt over the holidays ?

If you are like most your answers would be yes and then no !

Marketing Mania

The holiday shopping season is the time of year that will either make or break many retail organizations. It is no wonder then that there is an absolute media blitz at this time of year. All of these retailers are fighting to grab your holiday shopping cash before their competition does.

Between Black Friday and now Cyber Monday, it's doubtful whether anyone will possibly be able to stay out of debt this holiday season. I realize this post may be a little late for some this year, but hey there's always next year right ?  Sorry, but I wasn't thinking because I leave my shopping until the very last moment.

What the ?!@% is a Santa Grinch ? 

Basically what I call a Santa Grinch is a shopper that gives like Santa but spends like the Grinch. In other words give reasonable gifts that cost a reasonable amount and by all means shop around first.

In order to become a Santa Grinch you should decide ahead of time how much you will spend this holiday season and save that amount before spending it. In other words, don't be like the masses and borrow, borrow, borrow, often on the ugly credit cards with high interest rates.

Avoid the Winter Hangover

If you become a Santa Grinch, you will be amazed at how good you will feel after the holiday season is over. You will have given reasonable gifts that hopefully everyone will have appreciated and as a bonus you will not be in debt. You will not have to be eating beans and cabbage to pay off your holiday debt.

Of course the above hangover refers only to financial matters. It will not help with the other type if you know what I mean. All joking aside, you will feel much better.

Fight the Blitz

Of course to succeed with he above plan you must learn to shut out the media blitz and basically ignore what they are saying. I realize that this may be harder to do than it is for me to say, but at least give it a try.

You may want to think about it as not giving in to these large corporations so they will not be able to give their big bosses huge bonus checks courtesy of you. It works for me.

I hope this bit of advise helps you and your family this holiday season. The most important thing to remember about the holiday season is that the best things in life are free. The sharing of good times with close family and friends is priceless.

                                 Happy Holidays from Wealth Building Tips and Trends

Tuesday, December 4, 2012

How to Get Rich - Avoid the Herd Mentality

Do you feel comfortable in a crowd ?

Do you feel safe from danger if you stay with the masses ?

When it comes to investing, you must learn to stand out !

The Herd Effect

The herd effect is basically what happens when most investors go with the flow so to speak. They pattern their buy and sell decisions based on what is popular with all of the analysts and financial planners.

The problem with following this advise blindly is that the average investor has absolutely no idea why they are buying or selling at any particular time. Even scarier, some don't even have a clue what they are investing in.

They are following the crowd because it seems like a safe way to go. But is it really as safe as they think ?
My answer is no, it is not as safe as they think. How can it possibly be safe if you don't understand what you are investing in and why ?

Learn Before you Leap

Would it not make sense for you to learn as much about an investment before you invest your hard earned money ? Of course it would. That is only common sense.

The reason why most don't learn first is summed up in one word. Lazy !  They would rather spend their time watching tv, shopping or doing whatever else they enjoy instead of learning how to get rich. This is why there will always be the herd effect. Most people will not take the time to learn.

In addition to learning all you can about your investments, you also must learn when the best times are for you to buy and sell your investments.  I described this in my previous posting entitled "How to Get Rich - Understand Cycles" Check it out now if you haven't already.

Walk on the Backs of the Herd

By learning as much as you can about an investment and learning the best times to buy and sell that investment, you will in effect be walking on the backs of the herd. You will be rising above and setting yourself apart from the masses. You will be buying good investments before the herd does and you will be selling before the herd realizes things are going south.

I have said this many times before, but I'll say it again. Knowledge is Power ! The more knowledge you can gain the more power you will have to control your own future.

Don't become a part of the herd. Learn all you can and rise above the crowd. The rewards will be sure to follow.

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