Tuesday, March 26, 2013

How To Get Rich - Be Careful What You Believe

Do you believe everything you read on line or in the media ?

Do you really know who is offering their advice to you ?

The truth is you should never blindly believe what you read or see !

Truth or Fantasy

There has never before in history been so much information free of charge on every subject you could possibly imagine. On the surface this seems great. However, if you dig a little deeper and really do your own research about a topic, you may be amazed.

Most of the information, especially on the world wide web, is someone's opinion. You are simply reading someone's view on a given topic based on their experience and sometimes very limited research. How then do you know if what you are reading or viewing in a video is truth or fantasy ? The simple answer is you don't know.

Do Not Follow Blindly

Even what you are reading right now is simply my opinion based on my previous experience and the knowledge I have gained throughout my life. I believe that I am steering you in the right direction, however, I do not want you to blindly follow my advice.

Instead, I would like you to take my advice and prove it to yourself through additional reading and research. Libraries throughout the world are filled with books on all of the topics I cover in my postings. Much of what I recommend to you can be verified by many sources. But don't just believe me, check it out for yourself.

Do Not Be Lazy

Most people are extremely lazy when it comes to doing most things. They would prefer someone to give them everything they need to be successful. They cannot be bothered to take the extra time to really dig into a topic and find out the truth for themselves.

The whole financial industry is based on serving the lazy. Financial Planners who do everything, just give them your money. Get rich instantly, overnight, in a flash schemes that again just take your money. Do you really think any of these individuals care if you become truly wealthy ?  Chances are most don't ! Their first priority is their own success.

Rise Above

The only way to rise above the average lazy individual is to work harder at gaining the knowledge you desire. Do not simply believe everything you read or see. Do your own additional research and prove to yourself that what you are learning is real and not just someone else's fantasy.

Be an individual, not part of a group. Stand alone and challenge everything you read or see. Do not become dependent on someone else to look after your financial future. This is what I have done in my life and so far it has worked very well for me. It can work well for you too if you give it a try.

This posting could very well be the most valuable piece of advice you will ever read !

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

Tuesday, March 19, 2013

How To Get Rich - Learn the Numbers Game

Do you know how much money it takes to be rich ?

Do you think the rich care about the numbers ?

Whatever your answer is, it could be just right for you !

The Meaning of Numbers

Numbers in a bank account. Numbers in total assets. Numbers in total debt.

All of the above numbers are an important part of our modern day lives. However, what do they really mean in the concept of being rich ? Well, there is no magic number as far as determining when you become rich. Do you think that as soon as you reach a number in total assets or total net worth that you magically become rich ? The answer is no.

Becoming rich is more a state of mind than anything else. You are rich whenever you have the freedom to choose your future path. Once you no longer become dependent on working just to survive, but look forward to doing exactly what you want to do. That is the true definition of being rich.

Numbers As A Guide

Numbers are most useful when they are used as a guide. For instance, it is much easier to set goals if you use numbers instead of just feelings etc. One example is to have zero debt. Another is to save enough dollars to pay for your basic living expenses for the rest of your life. Another is to own your own home without having a mortgage.

Achieving some or all of the above goals will certainly go a long way towards giving you the feeling of being rich. They will make your life less dependent on having to work just to survive. But how do you know when you are truly there. The numbers will not necessarily tell you.

The Big Game of Numbers

I often hear a number given by financial planners of what a client needs before they can consider themselves wealthy. I just have to shake my head and wonder how anyone can possible pick this mystical number. Every person living on this planet has different dreams and desires. Every individual will have their own number if you will.

Perhaps these numbers are meant more for the planners than for their clients. In other words it will tell the planner how successful he or she is towards helping each client become wealthy. In some cases where planners receive commissions, these numbers may also be used  in planning their own income streams.

There are so many variables that can be adjusted towards truly becoming wealthy. One of the biggest ones is the cost of living. For instance, someone could simply move to a place with a much lower cost of living and feel instantly wealthy. It happens all the time.

What To Do

Use numbers as a guideline only towards achieving individual goals. Pick a number and go for it. Work towards reaching that number, then choose another goal. And so on and so on and so on. Don't pay any attention to the mystical numbers that many others may preach. Work towards achieving your own goals and desires where you live today.

Also remember that wherever you may live today, it doesn't mean you must always stay there forever. Open your mind to new opportunities to find your way to becoming truly rich.It may be much easier than you had ever thought.

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

Tuesday, March 12, 2013

How To Get Rich - Learn These 3 Real Estate Myths

Do you know the real truth about buying revenue real estate ?

Do you think all properties will make you money ?

If you answered No, then you are honest and on track !

Myth Number 1

Anyone can be a successful Real Estate Investor ! Those who sell the numerous Real Estate courses want you to think this is true. They try to make you believe that anyone can be successful if they simply fork over the big bucks for their seminars and courses.

All you need to do is ask yourself one question. Why are these people spending so much money and time trying to teach you to become a successful Real Estate investor ? Would they not be making more money by simply buying more of their own properties ? Truth is there is big money in seminars and courses.

I'm sure there are some students that go on to great success. However, what is that percentage ?

Myth Number 2

Real Estate has to go up in value because they simply aren't making any more ! Tell this one to all the investors who were foreclosed on in the US over the past several years. Time and timing is a big factor when it comes to Real Estate investing. There are good times and not so good times for any area you may be looking at.

Maybe if you had one hundred years to invest this myth would be true. However, how many of us have that amount of time before the bank comes to collect ? Not many I presume. Real Estate wealth building requires extreme leverage. If you're caught on the wrong side of the market, watch out.

Myth Number 3    

You need not invest in anything else but Real Estate ! Ok, this one is just plain crazy, nuts. It is never wise to invest all of your money in one asset class. Proper investment diversification is a cornerstone to solid wealth building.

All investments move in cycles and not all together at the same time. It is foolish to put all your eggs in one basket so to speak. You buy in an asset class when it is favorable and when it makes you money. If something is uncomfortably expensive, look elsewhere.

What To Do

Real Estate investing can be very profitable. I know this from experience. However, if you are considering this asset class, be very careful and take your time. Don't take the lure of the high profile seminar promoters. There are plenty of good inexpensive books and courses out there if you do your research.

Once you learn the basics, start looking for one good revenue property that will put money in your pocket starting from day one. This means it must have positive cash flow or look elsewhere.

Real Estate has become a big lure for building wealth these days, mostly due to the high profile promoters. Remember, there are many more equally profitable investments out there with much less risk. The difference is, to many they are seen as boring. To the true wealth builder, boring is good.

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


Tuesday, March 5, 2013

How To Get Rich - Destroy Your Obstacles

Is there one thing that is holding you back from creating wealth ?

Is there one big problem standing in your way ?

We all have obstacles that are in our way to creating wealth !

Define Your Wall

Before you can start a plan of action towards creating wealth and achieving your dreams, you must first define the wall (or walls) that stand in your way. Most of us have come from a position in life where we have had challenges to overcome before we could truly focus on building our futures.

For me personally, my biggest challenge was the fact that I came from a family that saw wealth as a bad or evil thing. Once I realized that they were totally wrong, I started to focus on things I could do to create a prosperous future and realize my dreams. In my opinion a properly motivated wealthy person can help others   on this planet a lot more than a poor person.

What is standing in your way to creating a prosperous future for yourself and your family ? For many it may be a lack of financial education or direction. If this is your only obstacle, you are in the right place. Through this and other postings on this blog and my ebook entitled "Five Star Wealth Builder" (click on the cover on the side bar for your free sample on Amazon) you will find everything you need to start you on your way.

Blast Your Wall

In order for you to overcome your obstacles, you must take action now ! This could come in the form of an external action or an internal one similar to what I had to do. You must first believe that you can do something before you will be able to make it happen. You must also believe that it is the proper direction for your life.

Many of us were taught the wrong things about wealth early on in life. We must first unteach these wrong ideas before we can move on. This can be a very difficult first step depending on how strongly these ideas were entrenched in your life.

Stop New Walls

Once you start your plan, never stop. New challenges will get in your way every day if you let them. There are many distractions in every day life that will try to steal your future wealth.

We live in a society of consumerism which robs most people of a prosperous future. Fortunes are spent on stealing the wealth of individuals too weak to resist. This is likely to continue well into your future life. Be strong and resist the lures from these wealthy thieves.

No one truly cares about your future wealth and prosperity as much as you do. Focus on your dreams and  they may become a reality sooner than you ever imagined.

Evolve Your Dreams   

Once dreams or goals are realized, you must develop new and bigger dreams. If you do not do this, you may find your life getting stagnant and lacking direction. Without proper motivation, it can become very difficult to keep moving ahead. Many become very comfortable with their current lives and this is where their growth can stop.

Of course, your life's direction is totally up to you. Wealth is more a state of mind than numbers in a bank account. If you are happy with where you are, then you are truly wealthy in your own mind.

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