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The old adage that "the truth will set you free" is still as applicable today as it was eons of ages ago when this simple grain of wisdom was taught by a renowned leader of that era. If indeed truth literally can set me free, then it means that it can give me freedom from all of my wants and give me abundance. If truth is indeed as powerful as this, then discovering truths can help me become a millionaire. This conjecture leads to a lot of questions such as:
What are the simple truths about millionaires?
Where can I find the simple truths that will help me become a millionaire?
How can I use the simple truth to help me become a millionaire?
These actually are the simple questions asked about the simple truth that can help me become a millionaire. So the secret really is to know the right answers to these simple questions.
What are the simple truths about millionaires?
It is the very simple truth that anyone determined enough can improve his lot in life. Aside from determination, of course, is the willingness to live out the truths that can help one really become a millionaire. It's evident that anyone can accumulate wealth, if they are disciplined enough, determined to persevere, and have the merest of luck. The following are the simple truths about millionaires that you can follow as a guide for yourself in the pursuit of wealth:
1. Millionaires live a very simple life.
2. Millionaires allocate funds efficiently in ways that build wealth, and they avoid conspicuous consumption.
3. Millionaires are proficient in targeting marketing opportunities.
4. Millionaires are proficient in choosing the right occupation.
5. Millionaires are mostly self-employed, in other words, most of them are entrepreneurs.
The traits above are the general characteristics or traits of millionaires. If you live your life in accordance with these simple truths about millionaires, living a simple life, living below your means, and grabbing opportunities as they come, then you are well on your way and are ready to digest the other set of truths that can help you become a millionaire.
Where can I find the truth that can help me become a millionaire?
We have already delved on the simple truths about millionaires, but there are still other truths to find. We need not look far and wide to know our way to becoming a millionaire. The simple truth is that in our day and age, the means to becoming wealthy are just around the corner. For example, the net is full of opportunities to earn an income. You just have to develop your skills at detecting an earning opportunity that you can find in the net.
You may ask, how does this truth about income opportunities in the internet ever help me accumulate wealth and help me become a millionaire? Very simple. You just have to grab all the opportunities that you can, and of course as you grab it, so you earn money. Now is that enough to make you wealthy? The answer is no! You have to stick by those simple truths above concerning millionaires if you ever are to become a millionaire yourself. That is, never spend what you earn as soon as you earn it. Live way below what you make. That is how millionaires live. Follow their cue and you can become one of them yourself.
A simple reminder, no matter how much you want to become a millionaire, without hardwork, patience, self motivation and confidence reaching your dreams of becoming a millionaire is far from reality.
Patrick A Mattis is an online information publisher. Finding the knowledge and information out there and to turn it into practical no nonsense advice. Get the free report on what you need to know on how you can start your own online business
Remember the "Millionaire Next Door"? He was that thrifty dry cleaner or welder who drove an old pickup truck, wore a Timex and bought suits off the rack (if he bought them at all). He scrimped, saved and invested his way to $1 million.
It was a quaint portrait—and a great book in the 1990s. But by the 2000s, the giant green tide of megawealth, filled with super-earners and super-spenders, transformed the world of millionaires. Saving your way to $1 million was still possible, but it wasn't considered wealthy.
Now a new study suggests that the concept of the may be coming back in vogue—at least psychologically.
A study from PNC Wealth Management asked people worth $5 million or more in investible assets about the "actions that have most contributed to their financial success."
The No. 1 response? It wasn't income. It was "saving early and regularly." The second most common response was "making smart investment choices." In a distant third was "earning a lot of money." Ranked fourth was "controlling spending."
When asked to rank the greatest influences on their success, 63 percent said "hard work." That was followed by "good decisions" (16 percent). Only 9 percent said "luck" was the top influence on their success.
"Most of the millionaires surveyed have controlled their own destiny by working hard and saving early and regularly," said Joseph Jennings, director of investments for PNC Wealth Management. "These are personal choices over which we all have control. This indicates that the 'American dream' is still very much alive."
Of course, every survey done by a financial institution should be taken with a grain of salt. Wealth management firms tend to promote the image of hard-working, heavy savers and investors among their clients. And clients sometimes say the right things in surveys, but act very differently in reality.
As the author Michael Lewis said in his now famous Princeton commencement speech, "if you have had success, you have also had luck—and with luck comes obligation."
PM Images | Iconica | Getty Images
But the PNC survey also shows some surprising changes among the millionaires over the past decade. In short, they are moving away from a focus on "quantity of life" and more toward "quality of life."
When asked about what drives their daily decisions, 25 percent of the multimillionaires said "enjoying life more." That's up from only 9 percent, 10 years ago.
Today, only 8 percent said "feeling a sense of accomplishment" was important—way down from 20 percent a decade ago. And those citing "a more healthful life" tripled over the past 10 years.
And "wealth preservation" was cited three times as much as "wealth accumulation."
Perhaps there is such a thing as "enough" for today's wealthy.
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WHY NOT...BE ATTRACTIVE TO WEALTH by Shannon Ables
”My definition of financial freedom is the ability to live the lifestyle you desire without having to work or rely on anyone else for money.” – T. Harv Eker
Much like being attractive to a potential employer or mate, being attractive to wealth manifests itself in our attitude toward financial success. If we believe that we are incapable of achieving financial success, we are quickly steering ourselves down the path of sabotage. But if, on the other hand, we educate ourselves about the ways in which money is transferred and accrues in value and functions in our lives and in our world, we begin to navigate a life that is open to more financial prosperity.
In T. Harv Eker’s #1 Best Selling Book, he enumerates the many ways we train our minds to either acquire or shun wealth. After reading the book, I observed many parallels to living a conscious life in order to live the life of our dreams. Both require intention, education, dedication and a mastering of our minds. And once we realize that we are the masters of our future, or as I shared in the first post of 2014, the maestro’s of our orchestra, it is then up to us to figure out what we want so that we can get about the business of attaining our goals.
Today I’d like to share you a list of ways to become more attractive to wealth as inspired by T. Harv Eker’s advice. Let’s get started.
1. Master what you fear. Rather than letting fear stop you - I don’t know if I can handle the responsibility that comes with the promotion. Investing in the stock market makes me nervous. Investing in my education may not pay off. What about paying back the loans? - see fear as an opportunity to gain more knowledge. The power of fear is that is seeks to control you. You need to take back the power, educate yourself and by doing so you regain your power because you know how to navigate past it.
2. Welcome hard work for it will provide many riches as a result of your efforts. Rather than choosing the route that is easy and convenient, choose instead to understand what you desire, what will make you happy, what will create a better life for you, your family and improve the world at large. In doing so, the interim will be exhausting, but the results will sweet and plentiful.
3. Train, manage and master your thoughts. First, come to understand where you mind wanders to when it is left to its own devices. Then come to understand why it travels to unhelpful destinations. Often it is fear which is spawned from lack of knowledge. Replace any unhelpful, debilitating thoughts with helpful, supportive positive mantras. When a negative or frightening thought pops up, be conscious of it, squash it, say what you need your mind to think out loud if necessary and gradually it will be a habit and automatic state of mind. Also, be wary of which environments create the negative, unhelpful thoughts. Refrain from listening, watching or being around environments that make it difficult to produce a mindset that is productive and positive.
4. Let your money work for you. Initially you will have to work very, very hard to end up in a place where you can afford to let your money work for you, but aim for that goal. After all, it is that initial front-end loading that will be the difference. How can your money work for you? Investments, delegating tasks to free up your time to focus on other more important business matters and projects, owning property, licensing your ideas, earning royalties, etc.
5. Become savvy with your money. Start small and create a budget on an Excel spreadsheet, track where your money goes, refuse to overspend and never make a purchase without being certain that you need it and you can afford it. When you have control of your spending, begin investing, paying off debt and then begin investing and taking risks with your money wisely. The basic premise being, either you control your money, or it will control you. Choose the former.
6. Choose your company wisely. The people you spend time with have an indirect effect on how you view money, how you spend money and your overall motivation to achieve the success you wish. Spend time with those who respect themselves, their dreams and wish to continually gain knowledge about life. Choose to spend time with people who inspire you, motivate you and are positive influences.
7. Seek what makes you happy, rather than seeking money to be happy. If you aren’t happy without money, you’re far less likely to be happy with it. Now granted, so long as the basics are taken care of – food, shelter, clothes. But ultimately, money provides an opportunity to bring amazing experiences into your life, to support charities and institutions that you wish to grow and flourish, but simply earning money to show how worthy you are is the wrong motivator to achieve true financial success and wealth. In other words, as Eker points out, money will simply make you more of what you already are – hopeful or cynical, determined or defeated, etc.
8. View obstacles as opportunities. Every barrier comes with a lesson attached. A lesson that can be used to move forward and aid us in future successes. And the good news is, there will be successes, so long as you choose to move forward. Did the first credit card you had become a crutch? Use it as a lesson about how to handle debt properly. Did you become impatient and buy the hot stock that was soaring through the markets, only to realize you should have done your research prior to the surge to capitalize on the gains? No mistake is ever a waste of time if you choose to learn the lesson it is trying to teach.
9. An attitude of appreciation, not resentment. So what if someone else makes more money than you do and is doing well. What does it matter that Bill Gates is awash in monetary success? Learn from him, listen to how he found his path. Similarly with Oprah who owns more than just a few properties and media outlets (OWN, O magazine, etc) – good for her! Rather than scoff at people who have done well and assume the worst about their character, or means of acquiring success, choose to learn from them. While there are certainly some excessively rich people who came by their money questionably, there are far more people who earned it fair and square. So shift your attitude and gather as much knowledge available. It is yours to gain or cast aside. Choose wisely.
10. Provide something of value. Whether it is a particular skill, your compassion, your patience, or your expertise on a particular topic, so long as you can provide something that is helpful to others, you will be successful. Come to understand your strengths, pay attention to these strengths, continue to work at them and improve them, and realize they may just be your path to success and financial wealth.
11. Accept the fact that you are the creator of your destiny. The moment you realize that you really do hold the reins to your success or defeat is the moment, if you’re like me, when you ignore the naysayers, you put your nose to the grindstone (or computer in my case) and work you like you’ve never worked before.
There are many more ways offered in the book to help mold one’s thinking to become more attractive to wealth, but the eleven shared above are ones that I have found to be particularly true based on my own experience and observation of others who have been successful with money and achieving their dreams.
More than anything, money is simply energy, and when you realize that you are either open to this energy or closed off to it, you realize you have so much power in creating the life you have imagined. Will it be easy? Heck no! Will it be worth it? If the path you choose leads to a life of fulfillment and keeps in tune with your values and priorities, it will be more amazing than you can imagine at this moment.
~Please do share your experience with being attractive to wealth. It is often your stories that inspire others you may never meet.
Do you want to learn how to live your dreams and generate multiple streams of income by investing little of your time ..Proceed! to the link www.creatingwealth.co/lcp1/emmandus
Do you know anyone who will be interested in making extra income? We have discovered a way a person can learn how to "Own Their Life" by building a home-based business; and we have a system for doing it that is so simple, anyone can do it. It doesn't require selling, and the best part is it won't take much of your time. If you are interested I’ll get you some information. http://bit.ly/1b26ndG
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With an estimated fortune of $62 billion, Warren Buffett is the richest man in the entire world. In 1962, when he began buying stock in Berkshire Hathaway, a share cost $7.50. Today, Warren Buffett, 78, is Berkshire's chairman and CEO, and one share of the company's class A stock worth close to $119,000. He credits his astonishing success to several key strategies, which he has shared with writer Alice Schroeder. She spend hundreds of hours interviewing the Sage of Omaha for the new authorized biography The Snowball. Here are some of Warren Buffett's money-making secrets -- and how they could work for you.
1. Reinvest Your Profits: When you first make money in the stock market, you may be tempted to spend it. Don't. Instead, reinvest the profits. Warren Buffett learned this early on. In high school, he and a pal bought a pinball machine to put in a barbershop. With the money they earned, they bought more machines until they had eight in different shops. When the friends sold the venture, Warren Buffett used the proceeds to buy stocks and to start another small business. By age 26, he'd amassed $174,000 -- or $1.4 million in today's money. Even a small sum can turn into great wealth.
2. Be Willing To Be Different: Don't base your decisions upon what everyone is saying or doing. When Warren Buffett began managing money in 1956 with $100,000 cobbled together from a handful of investors, he was dubbed an oddball. He worked in Omaha, not Wall Street, and he refused to tell his parents where he was putting their money. People predicted that he'd fail, but when he closed his partnership 14 years later, it was worth more than $100 million. Instead of following the crowd, he looked for undervalued investments and ended up vastly beating the market average every single year. To Warren Buffett, the average is just that -- what everybody else is doing. to be above average, you need to measure yourself by what he calls the Inner Scorecard, judging yourself by your own standards and not the world's.
3. Never Suck Your Thumb: Gather in advance any information you need to make a decision, and ask a friend or relative to make sure that you stick to a deadline. Warren Buffett prides himself on swiftly making up his mind and acting on it. He calls any unnecessary sitting and thinking "thumb sucking." When people offer him a business or an investment, he says, "I won't talk unless they bring me a price." He gives them an answer on the spot.
4. Spell Out The Deal Before You Start: Your bargaining leverage is always greatest before you begin a job -- that's when you have something to offer that the other party wants. Warren Buffett learned this lesson the hard way as a kid, when his grandfather Ernest hired him and a friend to dig out the family grocery store after a blizzard. The boys spent five hours shoveling until they could barely straighten their frozen hands. Afterward, his grandfather gave the pair less than 90 cents to split. Warren Buffett was horrified that he performed such backbreaking work only to earn pennies an hour. Always nail down the specifics of a deal in advance -- even with your friends and relatives.
5. Watch Small Expenses: Warren Buffett invests in businesses run by managers who obsess over the tiniest costs. He one acquired a company whose owner counted the sheets in rolls of 500-sheet toilet paper to see if he was being cheated (he was). He also admired a friend who painted only on the side of his office building that faced the road. Exercising vigilance over every expense can make your profits -- and your paycheck -- go much further.
6. Limit What You Borrow: Living on credit cards and loans won't make you rich. Warren Buffett has never borrowed a significant amount -- not to invest, not for a mortgage. He has gotten many heart-rendering letters from people who thought their borrowing was manageable but became overwhelmed by debt. His advice: Negotiate with creditors to pay what you can. Then, when you're debt-free, work on saving some money that you can use to invest.
7. Be Persistent: With tenacity and ingenuity, you can win against a more established competitor. Warren Buffett acquired the Nebraska Furniture Mart in 1983 because he liked the way its founder, Rose Blumkin, did business. A Russian immigrant, she built the mart from a pawnshop into the largest furniture store in North America. Her strategy was to undersell the big shots, and she was a merciless negotiator. To Warren Buffett, Rose embodied the unwavering courage that makes a winner out of an underdog.
8. Know When To Quit: Once, when Warren Buffett was a teen, he went to the racetrack. He bet on a race and lost. To recoup his funds, he bet on another race. He lost again, leaving him with close to nothing. He felt sick -- he had squandered nearly a week's earnings. Warren Buffett never repeated that mistake. Know when to walk away from a loss, and don't let anxiety fool you into trying again.
9. Assess The Risk: In 1995, the employer of Warren Buffett's son, Howie, was accused by the FBI of price-fixing. Warren Buffett advised Howie to imagine the worst-and-bast-case scenarios if he stayed with the company. His son quickly realized that the risks of staying far outweighed any potential gains, and he quit the next day. Asking yourself "and then what?" can help you see all of the possible consequences when you're struggling to make a decision -- and can guide you to the smartest choice.
10. Know What Success Really Means: Despite his wealth, Warren Buffett does not measure success by dollars. In 2006, he pledged to give away almost his entire fortune to charities, primarily the Bill and Melinda Gates Foundation. He's adamant about not funding monuments to himself -- no Warren Buffett buildings or halls. "I know people who have a lot of money," he says, "and they get testimonial dinners and hospital wings named after them. But the truth is that nobody in the world loves them. When you get to my age, you'll measure your success in life by how many of the people you want to have love you, actually do love you. That's the ultimate test of how you've lived your life."
57 year old Alice Schroeder is an American author, columnist, former senior adviser to Morgan Stanley, and former Wall Street insurance analyst who now serves as an independent board member for Prudential plc.
Do you want to learn how to live your dreams and generate multiple streams of income by investing little of your time ..Proceed! to the link www.creatingwealth.co/lcp1/emmandus
Do you know anyone who will be interested in making extra income? We have discovered a way a person can learn how to "Own Their Life" by building a home-based business; and we have a system for doing it that is so simple, anyone can do it. It doesn't require selling, and the best part is it won't take much of your time. If you are interested I’ll get you some information. http://bit.ly/1b26ndG
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You're Spending Your Millions $1 at a Time
A Lesson in the Time Value of Money
By Joshua Kennon
One of the fundamental principles of finance is the concept that $1 today is more valuable than $1 a year from now. The reason for this is two-fold. First, a dollar will probably buy less goods and services in the future due to the destructive force of inflation. Second, if I have the dollar in my hand today, I can invest it and earn a a return in the form of dividends, interest or capital gains.
The best money advice anyone can ever give you is to firmly establish this time value of money concept in your head. The key to financial prosperity is realizing the potential value of every dollar that comes into your hands. In fact, I think of cash as a seed – you can either eat it (spend it) or invest it (sow it).
To help illustrate this point, let’s assume you find a $20 bill on the side of the road. You are faced with two potential uses: you can stick the money in your tax-free retirement account or take yourself out to dinner. “It’s only twenty bucks!” you say to yourself and opt for the dinner. In reality, you are spending far more. Using one of the time value of money formulas, we can calculate the real economic cost of not investing the cash.
FV = pmt (1+i)n
FV = Future Value
Pmt = Payment
I = Rate of return you expect to earn
N = Number of years
To perform the calculation, we have to make a few assumptions. First, let’s assume you are 30 years old (and hence 35 years away from retiring at 65). That means that the $20 can compound for 35 years. We will substitute 35 for “n” in the equation.
Next, we must establish your expected rate of return. Historically, the stock market has returned 12%. If you want to invest in bonds, your return will be lower. Assume that you invest in a combination of both and expect to earn a 10% rate of return. This will be substituted for the “i” variable in our equation.
The “pmt”, or payment, is the value of the single amount you want to invest (in this case $20). Now that we’ve figured out the variables, the formula looks like this: FV = $20 (1+.10)35
Enter 1.10 into your calculator (this is the sum of 1+.10). Raise this to the 35th power. The result is 28.1024. Multiply the 28.1024 by the pmt of $20. The result ($562 and change) is the true cost of spending the $20 today (if you adjusted the $562 for inflation, it would probably work out to about $140 in today’s dollars. That means your real purchasing power would increase approximately 7-fold).
Clearly, this is enough to buy an entrée at a five-star restaurant! Armed with this knowledge, you are free to make an economic decision; namely, would you prefer to eat a $20 meal today or a $140 meal in the future. The answer is entirely personal. Once you understand this concept, however, it becomes painfully obvious that the small luxury items you think nothing of are really costing you millions and millions of dollars in future wealth.
Do you want to learn how to live your dreams and generate multiple streams of income by investing little of your time ..Proceed! to the link www.creatingwealth.co/lcp1/emmandus
Do you know anyone who will be interested in making extra income? We have discovered a way a person can learn how to "Own Their Life" by building a home-based business; and we have a system for doing it that is so simple, anyone can do it. It doesn't require selling, and the best part is it won't take much of your time. If you are interested I’ll get you some information. http://bit.ly/1b26ndG
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The LORD has done it! We all made it! Jehovah has brought us over into a year of plenty of wine and bread. He has brought us in perfect peace into the Overflowing times of life! WE are in place and not displaced, thanks for His exceeding grace. I wish you God's very best in the year 2014!
Welcome to the year of DIVINE UPGRADE! INCREASE, DOUBLE BLESSINGS and BREAKTHROUGHS in JESUS NAME!
In this new year our wildest dreams will find speedy fulfillment in Jesus name!
As students prepare to go back to school after the holiday and the ASUU strike, I wish everyone God's very best !
Do you want to learn how to live your dreams and generate multiple streams of income by investing little of your time ..Proceed! to the link www.creatingwealth.co/lcp1/emmandus
Do you know anyone who will be interested in making extra income? We have discovered a way a person can learn how to "Own Their Life" by building a home-based business; and we have a system for doing it that is so simple, anyone can do it. It doesn't require selling, and the best part is it won't take much of your time. If you are interested I’ll get you some information.
http://bit.ly/1b26ndG
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