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How can you generate income by utilizing your top strengths and passions (Soul Purpose) in less than 90 days? Learn a practical concept we teach in our Wealth Empowerment Workshop to help you see income quickly through your strengths and passions, called Cash Flow Generators.
Listen to our previous podcast about how to become wealthy by living your Soul Purpose.
What is Soul Purpose? How can you do what you are passionate about and do regardless of the money, BUT STILL MAKE MONEY? Why would that create wealth better safer and faster than handing your money over to others? How can YOU discover your Soul Purpose?
Learn how the science and art of investing is highly dependent on your clarity of your Soul Purpose. To get clearer on your purpose and learn the economic principles to create wealth, learn more about our Wealth Empowerment Workshop.
Next week, we will discuss how to create Cash Flow Generators from your Soul Purpose.
Book Recommendations:
(Once again) “3 Feet From Gold” by Sharon Lechter and Greg Reid
“Killing Sacred Cows” by Garrett B Gunderson
Chris Miles shares how persistence helped him overcome great financial obstacles, like many are experiencing today. Discover how to be grateful (when you don’t want to be) and have faith in timeless principles when the rest of the world thinks you’re insane! This is one of those rare podcasts where Chris shares from his heart (and no, we’re not saying he’s heartless).
Tune in next Tuesday to learn how to create wealth by living your Soul Purpose!
Book Recommendations:
“Trump: Never Give Up” by Donald Trump
“3 Feet From Gold” by Sharon Lechter and Greg Reid
Interview with Cari Greer, owner of Sole Desires, teaches us how she lives her Soul Purpose and keeping balance between family and running her own business. Learn tips to be balanced in all tracks of your life.
To learn more about Cari’s business, visit her website at http://www.shoeparty.com.
Listen to the 5 common traits that made middle-class individuals become millionaires. And no, it’s not the lottery, a 401k, or an inheritance.
Srully Blotnick, in his book, Getting Rich Your Own Way, did a 20-year study to find 5 common traits of those 83 (out of 1057) that became self-made millionaires. They are:
To hear more personal experiences of applying these principles, LISTEN HERE.
The best investment for you is to invest in being a better investor in what you know best. Listen to hear more.
Listen to my previous blog about this as well.
Is wealth really created from merely investing, eliminating credit debt, or somehow increasing our cash flow?
The basic economic principle to creating wealth is that exchange creates wealth. In other words, the more we exchange with one another, the more wealth that is created (this works for money, relationships, health, intellectual gain, etc).
For example, there are only a finite number of dollars in existence, but an infinite number of times we can exchange it. Each of us are passing around the same dollars everyday. Therefore, to be wealthy, we must be willing to exchange or produce more than we receive or consume. Inasmuch as we are always striving to do this, our wealth increases.
Unfortunately, many equate wealth with only financial means. Although I do believe the principles are the same, I have met several rich people who are broke in other areas of their lives. Consequently, many lose their financial resources because other areas have deteriorated, like their health or relationships.
Being wealthy DOES NOT require us to have financial resources before we can provide any real value to the world (Read more and/or listen). More often than not, the financial resources come AFTER the value is produced. Money does, however, increase our propensity to provide more value more quickly. It is a tool to increase our leverage to provide more value, but it is NOT what creates our wealth, even financially-speaking. Listen to know how to create wealth without money.
True wealth comes by continually progressing in ALL areas of life by seeking more ways to serve and provide more value to exchange with others.
My response to 1 of the most common questions asked on www.asktogetrich.com. Find out the hidden capital you have that can make you money:
1. Intellectual Capital
2. Niche Capital
3. Relationship Capital
Listen to know how to stop YOUR recession. Also, listen to Great Depression 2.0.
Many believe that if they do everything they are taught by the financial industry, they will be financially free. From what I’ve seen and what common sense tells us, it’s a load of *%&@! Here’s a few reasons why:
1. Traditional savers still feel broke after years of saving. I have yet to meet someone in retirement that KNOWS their money will last for the rest of their life. Listen why. Some can do it for a certain number of years before they can’t enjoy retirement anymore. The only people I know that have peace of mind are those that invested outside of 401k/IRA’s, OR the financial advisers getting paid commissions on their clients hoping for better returns.
2. Numbers aren’t reality and people aren’t numbers. Just because some suave salesman pulls out his fancy calculator and tells you it’s going to be alright, doesn’t mean it will be. Can he/she foresee your future? What if something changes in 20 years? 20 minutes?
By the way, Mr. Adviser, stop looking at my financial assets to produce returns for you and look at me as the REAL investment!
3. Average returns are not actual returns. If they tell you “Historically, this ‘investment’ has done ___%…” ask them if they will guarantee it in writing. THEY CAN’T!
Also, you can have a positive average rate of return, and in reality, still be losing money. Watch this video to learn how.
4. Inflation is much higher than what many believe. This is the most subtle way to tax the poor and middle class so the politicians look better. Listen here.
5. Your taxes will likely be higher. Even if taxes don’t increase (which I’m sure they will), you will likely have to pay more solely due to inflation. Things get more expensive over time meaning you need more money each year.
Besides, if your retirement accounts actually succeed like your adviser crosses his/her fingers for, wouldn’t you be in a higher tax bracket? If not, it’s probably because your accounts failed.
6. You cannot accumulate enough to only live off of the interest. Like I mentioned in one of my recent podcasts, it’s nearly impossible for even the best savers to live off of 4-5% of their money each year.
7. Paying off “debts” early will shrink your nest egg. Although I am in favor of paying off liabilities, there’s a catch. If pay off your liabilities, it will take money away from your retirement. Unfortunately, you cannot eat a paid-off home. Paying off “debts” is more in the self-interest of the banks than for you. Many retirees are currently asset rich/cash poor which restricts their freedom. For alternative strategies, listen now.
Stop “planning” for retirement!!! Instead, make it happen by DOING THE OPPOSITE which gives you a better chance. Learn the “art” of investing to start becoming financially free today!
If you need further convincing, check out these scary stats!
