Posts Tagged ‘Wealth Building’
“The first million dollars is often the hardest. The second comes more easily.” Quote by anyone who has gone down that road.
Million Dollar Treasure
Making that first million is always a magic marker. It’s always a mystery until you make it there. But, the funny thing is that you don’t realize any difference when you’ve actually crossed that threshold. Ask anyone who’s done it. The answer will likely be the same,” I only realized I have that ‘million dollars’ after an accounting of what I owned for tax purposes.” Some of the other reasons for an analysis may be for an investment or a bank analysis statement.
Lifestyle:
No changes for the foreseeable future are typically envisaged. There is no immediate change in lifestyle, but no doubt alterations will occur as we go along. Our lifestyles sort of ease itself into place as opposed to a sudden change of living standards.
Why would I change my wealth building methods when it is working for me at this time? Perhaps I will take an overview of my options and expand them according to what I feel and understand is a balance of security and asset growth.
This is not a sudden wealth boon like a lottery win or a huge inheritance. I actually will not change my lifestyle immediately after such a windfall. Something like this will more likely allow me to invest more for my future. This will include financial as well as educating myself so I can work better and smarter. I am already working hard enough. In fact, I know I am working far too hard on some days.
I want to be with my family more. You know, we don’t necessarily need to take extended holidays, but we find it very beneficial to have the odd days off together. It’s great for family bonding and the productivity that comes from a close cooperative effort. Imagine the peace of mind one gets – as in the Master Card ads, it’s “Priceless”.
Getting There:
Now, getting to that first million is always the hardest part. In my career of choice, as an Entrepreneur, I’ve met many like minded people and it seems to be the very same consensus all round. This is also true of people whom you’d never think will say that too – those big lottery winners and heritance millionaires – they find they have to learn to make money and build wealth just like everyone else. It is a life long skill that is developed, not born with. Silver spoons are no help here.
In making that first million I have found the worst thing is not having all the resources; the pieces to this puzzle need to be found and gathered in a way that shows you the whole picture. You see, the sooner other players within your ‘game’ sees your picture the faster your million gets built. And this becomes a real stumbling block.
It takes time, energy, knowledge and money, all of which you don’t necessarily have. Trial and error is the operative word. Everyone I know including myself, come up against the same problems, the most difficult of which is perseverance.
Think about it. For every successful entrepreneur, there are likely at least a hundred people who will dissuade you from any success. They can become the worst road blocks of all especially if they are close to you; family, mum, dad, an aunt, a life long buddy, etc.
Discussing their merits or the sins of the negative opinions is a waste of time. Most would be entrepreneurs get caught up trying to defend their own ideas and seeking the approval of ALL the people they know. What a waste of precious time and even more precious energy. What is often forgotten and ignored is that most people we speak to are not experts in that field you are targeting.
A far better plan of attack would be to find your desires and do your due diligence. You will find the many answers you seek before you go off trying to defend an idea you are not yet ready to tell the world about. You see, in doing the research you will find many answers to your questions and more answers than you had intended to find. Then, go ask targeted questions of mentors or experts in the industry. They can be contacted directly, or often, their valuable views and expertise may even be found in online or printed publications.
What have you achieved?
1) Well, first of all, you have become a far more knowledgeable person in that field and in your chosen specialization or niche. You’re now an “expert”, no pun intended.
2) Second, you’ve probably found the uniqueness of the market; if there is indeed a large enough viable market.
3) Third, you probably have enough information to put together a viable business plan; to plan your business success.
Perseverance:
Fine and dandy. Now that you’ve probably spent months of research and identifying your support people, and hopefully you’ve found your mentors. You have to realize the real work now begins.
Can you see it through? Remember, there will be hundreds if not thousands of steps toward that success. I use the term ‘steps’ because each move you make will be a series within a journey.
There will be many of those negatives and more – if you quantify these as steps on your journey, then you will come to realize that eventually, you will find the gems; the things and people’ expertise that will work for you. These may be tools of the trade or great advice. Value them and expand on the things that work.
This will speed up your journey and accelerate the steps you have to take.
Technorati Tags: First Million, Million Dollars, Wealth Building
Tags: First Million, Million Dollars, Wealth Building
Posted in Achieving Financial Freedom, Lifestyle, Sovereign Journey, The First Million | No Comments »
Supercharge your wealth building with the winning edge.
You Can Choose.
As a wealth builder one must cultivate that habit. Make it your culture. And I’m not talking about creating a habitual second nature. I mean it has to become your very nature itself. You live, breathe and think it.
I’ll tell you a story about how a young boy developed his winning ways under very difficult circumstances.
There was this preteen boy who was always feeling extremely inadequate with a constant barrage of anti-faith messages. It came from a very vengeful and jealous parent hell bent on destroying this boy’s relationship with the other parent and also because of religious intolerance from a school. What made the whole complicated matter worse was because the boy was coerced into making false claims of abuse by the parent he actually loves and looks up to. As such, the poor kid got very ill and the other parent was severely investigated and chastised and roundly treated like a pariah in society. All these things were done without the knowledge of that parent. And the poor boy felt the great brunt of guilt. Was it any surprise that the kid got so ill with guilt?
However, the boy decided he had enough of the whole and ran to the other parent, the one he loves and trust and basically hid from the world for four months, and cried for help to make the whole thing go away.
This was the boy’s first step in creating his own winning edge.
He actually had to fight off school bullies who found his ways very timid and vulnerable. But no more; former bullies either left him well alone or asked him to be on their team for sports.
The parent who is always angry eventually lost all that ability to coerce, scare or plant any guilt trips on him. Religious methodologies vanished – no more guilt trips. Morality ruled, not religious rules. Court rules went out the door as he made up his own mind and even chose where he would live and with whom. He chose his own preferred school to go to as a teen.
In short, he had the courage and won bit by bit his life back.
So it is with building one’s wealth or whatever you wish to achieve. That boy drove relentlessly toward his goal – and that was for his freedom from that ridiculously coercive world and to be with the person and the life he wishes to have.
Now, what if you drove toward your goal with the same determination as the child? It took a few years but he never stopped. He did not give up. He always knew he would succeed and that was all he cared for. This boy is a winner in so many ways. He was a winner each step he took. Often, they were just little steps at a time. This was his Sovereign Journey.
Winners are everywhere if you care to accept what a winner truly is. Most victories are never celebrated but are considered to be never good enough as long as they are not news worthy or exciting enough.
However, the results can be as significant as any great successes for mankind out there. What will you choose?
Technorati Tags: Goal, Wealth Building, Winning Edge
Tags: Goal, Wealth Building, Winning Edge
Posted in Sovereign Journey, The Winning Edge, Wealth Building | No Comments »
Rent to own or also called rent with option to purchase can be a powerful method of wealth building that can put you on the road to financial freedom.
In these days of jittery finances for real estate, this may be the best option for the sellers, the would be buyers, and the guy in between, the mortgager.
Rent To Own Apartments
From the sellers’ point of view:
This selling option can be great because with this housing glut, buyers are not very common. Worse, would be buyers that qualify for a mortgage is rarer still. So, why not offer the would be buyer the chance to rent, try out your house/apartment/condo unit for perhaps a period of 12 to 24 months with a contract to purchase with the whole or part of the rent paid considered as downpayment. This could qualify the buyer for a mortgage already. In the meantime, you are getting guaranteed cash flow in this nasty down market.
From the Buyers’ point of view:
Many people do not have the down payment for a mortgage. Worse, they don’t have the credit worthiness to purchase a property at all. This way, they have the option of building their mortgage credit worthiness and building their down payment at the same time. For many people, this may be the option of getting their own real estate equity built up.
From the Mortgagers’ point of view:
After 2 years or more of a good credit history and 1 to 2 years of showing proof of being able to pay their rent which will likely be higher or equal to their mortgage, the mortgager is more likely to be able to meet their more and more stringent lending criteria. But more lending equals more business right?
As far as I can see, everyone involved need to crunch their numbers well and see if it works for them. But this is a win, win, win scenario for everyone.
Technorati Tags: apartment, real estate equity, Rent To Own, Wealth Building
Tags: apartment, real estate equity, Rent To Own, Wealth Building
Posted in Financial Freedom, Real Estate Investment, Rent To Own, Wealth Building | No Comments »
Your lifestyle is largely yours to choose.
Of course circumstances can dictate your living conditions, but by and large, you can accept to stay the way you are, or create the new conditions that will change your lifestyle to the way it should be to your satisfaction.
Perhaps we should take a quick peek into the great wealth builders of the last 2 decades – the Chinese people.
The Luo Pan and Indispensible Feng Shui Chinese Compass.
Many very successful and wealthy personalities in the Far East have a very special wealth building weapon added to their arsenal of building true wealth. And that ladies and gentlemen seeking financial freedom, is their specially hired Feng Shui Master.
Bear in mind, many of these tycoons will never admit to having one by their side, on their payroll, because these people are precious and why would a great business person divulge his or her most valuable secrets?
In ancient times in China Feng Shui was developed as a living interpretation of harmony with the heavenly and earthly energies affecting mankind. As such, mankinds luck can be affected by such energies as time changes, days or nights, seasons, light or dark and the interchangeability of the energies of Yin and Yang. Understanding these energies, a Master can use the interpretations to predict earthly events like weather changes, possible earthquakes, and the viability of growing crops at certain times. The Tong Shu, possibly the book most in print on Earth records these interpretations on a daily basis as an annual calendar.
In the past, only the wealthy and nobility were privy to such knowledge, but today, everyone can know of at least the basics with the many Masters now coming out of the woodwork and making their “secrets” known.
To the Chinese, and indeed in the practice of Feng Shui, wealth is not just money, although money is a part of wealth. Things like family, wisdom, education, health, etc. all make up wealth. In modern times, this practice has been adapted to suit our crowded and busy lifestyles. Objects and paintings can take the place of real mountains and water features. The time energy calculations are very intricate but still adhere to the ancient principals. Each Feng Shui Master worth his salt can and will warn you of the dangers and help protect you with the proper activities and advice. Then they will offer you your wealth building directives.
Technorati Tags: Feng Shui, Financial Freedom, Lifestyle, Successful, Wealth Building
Tags: Feng Shui, Financial Freedom, Lifestyle, Successful, Wealth Building
Posted in Feng Shui Lifestyle, Financial Freedom, Lifestyle | 1 Comment »
