Tuesday, March 18, 2014

How To Get Rich - Believe

Do you truly believe that some day you will become wealthy ?

Do you think anything can get done unless you truly believe  ?

Truth is, your beliefs may some day become reality if you truly believe !

Why Believe

Believing in yourself is the very first step to accomplishing whatever you want in life. If you do not believe that you will succeed at something, it is very likely you will never succeed. An old saying by Napolian Hill, the author of one of my favorite older books " Think and Grow Rich "  was " What The Mind Can Conceive and Believe it Can Achieve "

If you believe you will live an average life and jut survive, guess what ? That is exactly the way you will live and you will likely achieve exactly what you truly believe.

First Step

I don't care how many financial planning and strategy books you read. I don't care how much financial knowledge you can learn. If you don't first truly believe that you will succeed, the rest of what you do is just a waste of time.

Your truly first step to becoming all that you want to be is to believe in yourself. I wasted a lot of my time in my early career as a financial planner on people that didn't believe in themselves. It was a very frustrating experience for me as I wanted to help everyone. But I soon learned that someone must want to be helped before they can be helped. That is truly the very first step to accomplishing anything.

Your Next Step

If you can convince yourself to truly believe, then I have a request for you. Send me a direct email on my contact page and tell me what you truly believe you will accomplish. I will keep track of your responses to see if I should bother trying to help you and others through further tips on this blog. I must get enough responses to this request in order that I can believe that you truly want my help.

If this is to become my final blog posting, then I encourage those of you that truly believe to read all of my previous postings to gain as much free knowledge as you possibly can. You can read all that you wish to by clicking on the sidebar.

I hope that my work will be able to continue, but that task is now in your hands. I truly want to help the world become a better place by spreading financial knowledge. But I can only make a difference if those that truly believe are reading what I have to say.

I would like to believe that the world cares enough for me to continue. I await your reply.

Until next time, I hope. ----->> Richard Lyons

Tuesday, March 11, 2014

How To Get Rich - Avoid The Time Share Trap

Have you ever heard of a time share real estate investment ?

Do you think the wealthy invest in time shares ?

Truth is the wealthy stay as far away as possible from time share promoters !

What Is A Time Share

Time share real estate investments are products that are sold to unwary individuals that want to vacation in style. Quite often these scams are promoted to vacationers and involve some pretty high pressure sales tactics.I have seen them try to sell these for as high as $25,000.00 .Beware !

Basically, when you purchase a time share, you buy a 1 week per year use of a condo unit. Along with this you are required to pay an annual maintenance fee which can be very high. Once you buy one of these, it will be virtually impossible to sell to someone else. This is because there are so many time share resales on the market and some for as little as $99.00 . There is absolutely no real value to most time share units.

Listen But Never Sign

It can actually be a very interesting experience listening to what these promoters have to say. They will always get you hooked with a free offer of some kind. But never ever ever give them your credit card number or sign anything to get your freeby. If you do, be prepared for a huge negative surprise when you get home.

Also, if you agree to listen to their presentation, be prepared to waste at least half a day of your vacation. This is usually how long they persist until they give up and give you your freeby. Remember, nothing is really free. You will be spending your valuable vacation time to get this freeby.

What To Do

First, you must be able to recognize one of these scams when you see one. Time share promoters often phone people at their homes promising a free trip of some sort. Either a free stay at a resort or a free cruise. Also, while vacationing, you are bound to see many time share promoters enticing tourists with free stuff. I have seen free spa treatments, free theme park passes and have even seen straight cash. If something is being promoted as free, you can be sure a time hare promoter is near by. Beware.

It is possible to get your free stuff without buying anything. But be prepared to spend a half day listening to their sales pitch and enduring many attempts at them getting into your wallet. Some even get downright angry when you insist you just want your free stuff.

If you just want to enjoy a relaxing holiday, simply say no to the free stuff. Remember, in this world we live in, nothing is really free.

Vacation real estate investing should be left to the experts. Every country has different rules, therefore it is generally an area to stay away from. Rent your place while on vacation and invest your money back home in investments that you really understand.

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

Tuesday, March 4, 2014

How To Get Rich - Do Not Eat Your Children

Do you think your family would survive if you ate a child ?

Do you think anyone would ever consider the thought ?

An outrageous thought but many do eat their children in a way !

Defining Your Child

Ok, now that I hopefully got your attention, let me explain what I define as a child.

From a financial point of view a child is a component of your life's savings. Whew, I bet you're all relieved now except for the few cannibals in the crowd. Actually, I don't think even cannibals would eat their children. Who would be left to carry on their cannibalism ?

All kidding aside, eating your financial children could kill your future family. At least it would kill your ability to have a comfortable retirement and possibly leave something to your biological children to help them in their future lives.

The Really Wealthy

Many of the really wealthy are really wealthy because they do not eat their children. Instead, they protect their children from all of life's dangers and encourage them to grow.

Of course I am talking about the wealth of the wealthy individuals.  They protect their wealth from all of life's financial dangers and look for ways to safely grow their wealth even more. Then there is the most important part of what they don't do. They don't spend more than what they actually earn from their invested wealth. In fact, as time goes on, the percentage of their earnings that they spend becomes less and less.

The biological children of the really wealthy are often termed "Trust Fund Kids" . Their kids are given a sum of money, but are only allowed to spend the income that the money makes. If they did not do this, their children would be eating the grand children so to speak.

What To Do

Ok, for all of you who are not really wealthy, what are you to do ? Well, remember that many of today's wealthy families were not wealthy several generations back. In fact many were poor or at best average way back. All it took was one ancestor to not eat their children and start the wealth chain growing. They continued by training their next generations to do the same things.

You can do this too starting right now. Simply save a portion of your earnings (say 10% or more) and never ever spend it. Invest it to earn more income and some day you may not have to work in order to survive. Your financial children could be providing all the income you will ever need.

Next, train your actual children and their children to do the same. Who knows, someday your future generations may take their place among the really wealthy. What a thought. Well, it's certainly a better thought than eating your children .

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