Posted in Pursuit of Excellence

October 21, 2017

Items in italics are direct quotes from the articles below

How do you spot a liar? Watch their eyes, says champion poker player Phil Hellmuth.  Hellmuth has made a career out of calling peoples’ bluffs. So far, he’s won 14 bracelets at the World Series of Poker and a total of $21,971,705 at live tournaments. Hellmuth partly credits his ability to read people as the secret to his success. “Success in the game is 70% reading people and only 30% reading the cards,” he wrote in the book “Read ‘Em and Reap,” which he co-authored with writer Marvin Karlins and former FBI agent Joe Navarro. The “Poker Brat” author has picked up one trick to help him get a better read on people’s true feelings — and detect potential lies. It’s a simple test anyone can use, whether you’re dealing with someone bluffing over a hand of cards or a chronic workplace liar. “You can stare at people,” Hellmuth told Business Insider. “It’s super effective.” Being able to watch the eyes dilate or constrict can give you a quick read on what a person is feeling. It is a skill that needs to be cultivated and you should trust your instincts. People have little ability to control how their pupils react to stimuli, which is what makes watching someone’s pupils a great tell. Of course, changes in pupil diameter signal a person’s emotional state — not dishonesty. But if an individual’s words don’t match their eyes, you might want to take note. For example, if your friend gets a call that causes their pupils to contract but they claim they’re fine afterward, something might be off. If you’re in a tough situation and you need a genuine answer, then look the person in the eye and ask a question. Never stop learning and growing and cultivating new skills. New habits will continue to strengthen the brain over time in my opinion.

Cutting back your spending isn’t the only way to save more. Finding ways to up your income can help you build wealth and hit your goals faster—and it doesn’t have to require a lot of time or effort. You can ask for a raise, pick up a side gig (as nearly a third of U.S. workers are doing now) or consider a third powerful income-boosting strategy. Say hello to passive income—a low-effort cash flow that’s steady, predictable and relatively easy to maintain. Here’s how four people have done it successfully. As discussed in previous blogs, passive income is a misnomer. To create it, you truly do have to put in some form of effort. Whether it’s a savings account or a rental property, there should be some form of time, energy, and even finances put into an asset for it to generate passive income. This article has four examples that can help encourage your imagination. “My dividend portfolio pays me over $1,200 a month.”— Bob Lai, 35, tech product manager and blogger in Vancouver, Canada “High-dividend stocks are my secret weapon, netting me more than $1,200 in passive income every month with virtually no effort. Basically, this means that I’ve invested in stocks that pay dividends to shareholders, so I essentially get a cut of each company’s profits every quarter—100% of which I reinvest. This lets me buy more shares without having to shell out more money, which is a huge benefit when the price ticks up. My strategy did require some initial effort. But while thoroughly evaluating investments—by checking out price-to-earnings ratios, historical dividend growth and company statements—before purchasing may seem like an intimidating task, I actually enjoy it and don’t mind immersing myself in the research. Bob also diversifies his portfolio by investing in ETF index funds. “Passive income pays my bills—and allows me to travel the world.”—Cat Coquillette, 30, location-independent illustrator and designer in Chiang Mai, Thailand “Thanks to some solid passive income streams, which make up about 90% of my monthly earnings, I’m anything but a starving artist. In addition to my illustration and design business, I earn about $7,000 a month via art licensing through print-on-demand companies. These are websites that print your artwork on things like apparel, phone cases and notebooks, then sell the items online. For example, I created a design for a travel mug that sells for $24.99; I get 10% of each sale. This may not sound like much, but it adds up, especially when you submit a lot of designs. I upload paintings both new and old, so instead of collecting dust, my artwork can earn some cash. She also makes money through traditional art licensing, and through online tutorials. I’ve included only two of the four examples. If you know exactly how much your monthly expenses are, and if your passive income becomes greater than your expenses, then you can retire, or at the very least lose your job and still be able to live.  A word of caution, I think it’s foolish to quit your job in the pursuit of acquiring passive income generating assets.  I know someone who quit his job to build a business against my and some wise business men’s council, and I watched his financial life fall apart. He now jumps from job to job and one get rich scheme to another. Your job no matter what it is, it is providing for your healthcare expenses, paying your existing bills, putting food on the table, and caring for your family. Build your assets over time with your job. Before you ever quit your job, know your numbers, have a plan, and surround yourself with good wise friends.

This week, I’ve included KEEP STANDING – Most Emotional Motivation Video EVER – (Don’t Give Up) from the Mulligan Brothers YouTube channel.

“If you think you know it all, you’re a fool for sure; real survivors learn wisdom from others.”

Proverbs 28:26 MSG

Posted in Debt Free Me

Month End: June Snapshot

This month, I’m so thankful for what God is doing in our lives. My wife had her first job interview since graduating college and she got the job she wanted. She passed the NCLEX on the first try and had a successful interview to get her first job in many years on the first try. God has blessed our new family in so many small and dramatic ways that I can’t help but give Him thanks. This month, I personally decided to stay away from actively selling my Legalshield business and decided to personally focus on growing my wife’s Legalshield business through mentoring and motivating. I still lead conference calls, available I’m to answer questions, and I assist in sharing the product, however I no longer actively sell memberships. I choose to instead be a Legalshield member, and mentor. I’m still active in my other businesses and I’m excited about a new business venture that I’m starting with my friend Blake.

The balance on my Capital One card increased due to a balance transfer to help pay my wife’s debt and take care of necessary expenses. With the extra $500 per month, the additional income from my business ventures, and proper budget management, I’m going to begin to focus on paying on the Barclay’s cards because they have an interest rate of 23.24% vs. the Capital One’s interest rate of 23.15%. The best way to pay down debt is to focus on the debt you want to pay down and find ways to increase income while decreasing expenses. Also, if you can build passive income generating assets you can work toward building wealth. You must act and believe that there is an end you can reach.

If you want to learn more about how I’m increasing my income, while reducing debt or if you want to have someone to discuss your debt reduction strategy with, or if you need a financial check-up, contact me.

Also, learn more about how I use the self-lending principle through Mustard Seed in the mustard seed section.

“The LORD will send rain at the proper time from his rich treasury in the heavens and will bless all the work you do. You will lend to many nations, but you will never need to borrow from them.”

I believe in your journey to….

A Debt Free Me

Here’s this month’s video: STOP WASTING TIME – The Most Motivational Video Ever 2017 from the Video Advice YouTube channel.

Posted in Pursuit of Excellence

September 21, 2016

Robert Citrone, the Tiger cub who now runs one of the best-known macro hedge funds, is warning investors that the market moment they’ve been anticipating is at hand. “We believe we are in the midst of the market correction we have been expecting,” Citrone, founder of Discovery Capital Management, told investors in an e-mail obtained by Bloomberg. “It will likely persist over the next 3-4 months and be the largest correction since the 2008 crisis,” he said. The firm managed about $12.4 billion at the start of 2016. Money managers believe we are on the cliff due to central banks reexamining monetary policy. The CBOE Volatility Index has increased about 19% this month. Citrone, whose fund specializes in making wagers on macroeconomic events, tempered his view by describing the correction as a “healthy adjustment from overvalued market levels, which are primarily a result of exceptionally easy monetary policies.” One of the many hedge fund managers dubbed Tiger cubs after working at Julian Robertson’s Tiger Management, Citrone founded Discovery in 1999. If there are seasoned investors that are predicting a market correction, then it’s important to have a financial education to protect your finances. Personally my strategy is having a diversification in asset classes such as paper assets, real estate assets, and business assets. It’s important to have assets that generate income. If you’re interested in having your own income generating asset, you can reach me in the contact me section.

If you’re looking to build wealth, if you’re looking to save up a nest egg for retirement, or if you’re merely looking for a way to alleviate financial stress in your life, passive income is one of the best ways to do it. The phrase naturally sounds like a buzzword, or something you’d hear on a late-night infomercial, but passive income really exists and operates exactly how it sounds–earning you revenue without demanding much effort or attention. Of course, this isn’t a get-rich-quick scheme, and you won’t be able to earn millions in passive income, but even a small stream of extra revenue can make a major difference in your life. The important point to remember about passive income is that it doesn’t take up a lot of your time once it’s in place. Your more conventional forms of earning money involves earning money at the exchange of time. Keep in mind most passive income generating assets will require an initial investment of time and or money, before you can reap the rewards. The article provides seven examples: dividend-paying stocks, rented real estate, e-books, advertising, apps and existing businesses. In previous blogs I’ve talked about dividend paying stocks and how to analyze companies, and so I recommend reading my previous blogs to form your own strategy. Rented real estate will require a higher level of financial education, and it requires a larger investment versus purchasing dividend stocks. Another option is writing e-books, but it’s important to know your target market and drive customers to purchase your e-book. The author provides a few examples of income producing assets, but it’s more important to understand what classifies a passive income producing asset vs. an active income producing asset. If your asset becomes your job and requires more and more of your time, then it’s not a passive income producing asset. It’s the same as confusing an asset with a liability. Be sure it’s doing what you want it to do, and if isn’t reassess your position and do something different. Once your passive income is greater than your expenses then you can retire wealthy.

If you have a prayer request, or if you’re in need of a financial checkup you can reach me in the contact me section.

For this week, I’ve included Top 10 Ways to Earn Passive Income from Video School Online YouTube channel.

“But those who want the best for me, Let them have the last word—a glad shout!— and say, over and over and over, ” GOD is great—everything works together for good for his servant.” I’ll tell the world how great and good you are, I’ll shout Hallelujah all day, every day.”

Psalm 35:27-28 MSG