How To Be Wealthy: A "RAGS TO RICHES" Approach ((((SHARE!)))
by Jason C. Waite
by Jason C. Waite
© 2010 Jason C. Waite
I've started to put the pieces together. And yes they are pieces. There is no right or wrong answer, but they all begin to point into the right direction.
For those of us who are beginning to learn about wealth, and yes the word wealth is relative, and in this senses I'll say time freedom. I believe it's a fundamental concept not necessarily a numbers game or a score, although by default it leads to that. ... or wondering. ;)
When learning about wealth, you begin to quickly understand that "success" leaves trails. That there are systems, and that when duplicated, and put into place, with discipline and consistency and persist ency things over long periods of time compound- leverage.
In this following article you will find nuggets. They are spread everywhere. Don't take it as a conclusive work. I placed it together a couple of years ago and many of my ideas have evolved, and well simple for this article it might be more time to allocate then really wanting.
True wealth is health, happiness, and your mindset most important! Be very choosy of what you consume and how you appreciate your body! Here's an excellent video... 20 minutes of "The Secret" that can be a great step to your personal development journey.
As you garner a positive mindset your life will explode. Remember now that it's your duty to garner your PURPOSE in life. Post it EVERYWHERE. Know it by heart. ... As you formulate your purpose, understand your mission and vision as well. Do you know the difference between your purpose, mission, and vision?
As your progress through life, you will see that it's all about positive/affirmative thinking. However, as you begin to manifest what it is you really wanted/burning desire in life, you will see the necessity for learn about action, ... rather MASSIVE ACTION. It will always take MASSIVE ACTION couple with a positive rather affirmative mindset to manifest you and your friends goals/dreams. (The author of this blog as well had those alleged adversities/opportunities.
Let me leave you with this thought: Action will put you out of doubt; Doubt will put you out of action. ... It's time for MASSIVE ACTION. ;)
Go check out my blog to see what I'm up to these days. Feel free to reach out.
1. Earn a residual income from your passion and purpose in life.
A. Read the The Millionaire Pocket Book: A Spiritual Guide to Manifesting Wealth and you'll find an excellent guide on finding your passion and purpose. I haven't found a guide that directly formulates the purpose quite like I do. That's why I created it. :)
B. If your having a hard time finding your passion, participate in a network marketing company for the now. This will teach you the necessary business skills, and you can keep your part-time or full time job. ... do this until you earn twice as much from your part-time fortune as from your full-time job/living. This makes for a great story. ... Watch Jim Rohns video on the Magic of Part-Time!
... Continue to read the The Millionaire Pocket Book, and you will find your answers.
Here's a video where you can learn more about what Residual Income VS. Linear Income is.
HERE'S A GREAT SOURCE OF RESIDUAL INCOME WHERE YOU CAN SPEND LITTLE AND HAVE INCREDIBLE LEVERAGE. TAKE A LOOK AT THE ARTICLES. AND LEAVE YOUR EMAIL THERE FOR FREE UPDATES.
2. Electronically and automatically automate your your income as mentioned by David Bach in the Automatic Millionaire.
A. This takes will power out of the wealth equation and is automates everything automatic. Automate everything automatically, even if you just have a dollar to your name. Even if you have to borrow a dollar!
3. When automatically allocating your capital like David Bach suggests, divvy up your percentages of your income into 6 accounts, and as recommended by T. Harv. Eker in Secrets of the Millionaire Mind.
A. 50 percent Necessities
B. 10 percent Give
C. 10 percent Save (I believe Gold or Silver best and stored where can't be taken from you.)
D. 10 Percent Splurge or Blow money account
E. 10 Percent Financial Freedom account that you never blow.
F. 10 Percent Education
4. Buy a home at-least 80% market value, 10-20% down, 15 year mortgage, and rent your individual rooms out on lease- thus owning your house as an asset, not liability, and earning cash-flow. You can as well use your network marketing business to write off many of your expenses and liabilities in and on your home! ie. electricity, internet, phone, portion of rent, etc. And if you want to step your game up even more, split your monthly mortgage payments each month and pay your bill automatically twice a month as David Bach suggests! If you have not the money or credit to buy a home, find the home at the right bargain, and find investors and to partner in the deal with you as co-owners. The credit and capital you garner from them will be extremely helpful!
Go check out my blog to see what I'm up to these days. Feel free to reach out.
5. When starting a new company or riskier venture make sure you form a big business structure like Robert T. Kiyosaki suggests, putting yourself in the "B quadrant", rather than the "S quadrant". Watch Robert's excellent videos on YouTube!
6. When speculating on new businesses ventures never speculate more than 10% of your net-worth and ALWAYS MAKE SURE THERE IS CASHFLOW ON YOUR INVESTMENT. If you need the the partners and capital, round it up! Your key is to invest in residual income, leverage, and CASHFLOW! This many times is starting in network marketing or real estate! The author of this article too made that buffoonery mistake.
HERE'S A GREAT CASHFLOW OPPORTUNITY. IT MIGHT LOOK CHEESY BUT IT'S VERY POWERFUL AND MANY OF US OUR DOIN IT. LEAVE YOUR EMAIL. TAKE A LOOK. INVESTIGATE FOR YOURSELF.
7. Always work on multiple streams of (and hopefully residual ;)) income as Robert G. Allen suggests in his book "Multiple Streams of Income". I believe your eggs and opportunities are never in one basket. Try garnering 7 streams of residual income. ... or maybe a couple at first. ;). Network marketing a great first source and then maybe real estate, renting a room out paying your mortgage in your home. ... All family members AND spouses should have their own streams of residual income! Imagine if something happened to one spouse. You'd have the residual income in place AND the other spouses time and energy to reinvest into the residual income source.
8. Form a mastermind group or dream team and share these ideas and the teachings previously mentioned. Those who you recruit into your mastermind will be the creators and direct reflection of intention. Read the classic Think & Grow Rich by Napoleon Hill! Call me. I'll be your mentor and help walk through your foundations of wealth building. The more friends the merrier. ;)
9. Your goal is to have all your assets buying your assets. It should look like a family tree! ... And all of your expenses and liabilities are as well under your business(s). This will save you on taxes, as well, will shelter your assets. Imagine if something happened and to you? i.e Being falsely sued or a health condition that effects you and maybe even your partners in business? Besides sheltering your assets, you need to know Robert T. Kiyosaki's description of his rich dad's vs. his poor dad's income statement and balance sheets! His book Rich Dad's Guide to Investing is absolutely fantastic.
10. Think BIG: "Give the world something it desperate needs" as I say in my book The Millionaire Pocket Book: A Spiritual Guide to Manifesting Wealth.
11. Give everything you have when you die, and make sure your philanthropy is residual and lives on forever!
12. Be an entrepreneur and start an empire/journey! Who are the entrepreneurs? How do they act? What do they do? What do they give? What are their behaviors? Read Chicken Soup for the Entrepreneurs Soul for further inspiration!
Go check out my blog to see what I'm up to these days. Feel free to reach out.
13. Start a network marketing business. This is one that I do. 20 minute video on website explains it. Network marketing is a DUPLICATE system that works residual for you. ... and provides mentors, and utilizes the power of LEVERAGE. And you have a brand that's sound and works. Not to mention your helping lot's of people and your earning a residual income and provide value to peoples lives. A network marketing opportunity however is NOT a guarantee to wealth, and BY FAR most people fail, quit, and or have have various success.
Here's a great video by Robert T. Kiyosaki on the power of network marketing:
THIS BUSINESS HERE IS NETWORK MARKETING BUSINESS. THE GREAT THING IS PEOPLE CAN SWITCH FOR FREE, SO YOUR NOT ASKING PEOPLE TO GIVE YOU MONEY. TRUE LEVERAGE. AND A GREAT PRODUCT FOR THE PEOPLE.
*** Bonus: Provide VALUE and always eductate. If people see that you provide value in their lives and are legitimate in helping them, they will listen to the ways in which you can help/serve them. If the person found value in what you've had to say in the past, they will find value in your opportunity to help them in the present, and most importantly long term future.
*** Bonus: Stick to the system. Success leaves trails. Which system of success do you wish to follow? Are you reading the works of your mentors? If you wish to make it in the burger business are you reading Ray Kroc? Are you wish to make it in network marketing? ... are you reading and listen to Jim Rohn audio tapes? ... Success leaves trails. Why reinvent the wheel when the wheels right there in front of you ;).
True wealth is NOT doing one thing. It's a lifestyle, and automated way and state of being/ living. How you do one thing is how you do everything. ... If you do ALL of these things, I DARE YOU to see where and how your living in 5 years. ... 5 years. ... STAY IN TOUCH WITH ME. Give me a ring and let me know of your pledge/commitment.
CLICK HERE NOW TO SEE WHAT I'M UP TO.
CLICK HERE NOW TO SEE WHAT I'M UP TO.
