April 19, 2017

Items in italics are direct quotes from the articles below

http://www.businessinsider.com/laura-vanderkam-power-hour-productivity-2016-10

Laura Vanderkam the author of this video argues that we should consciously spend time on the parts of our job that initially drew us to our job in the beginning. To do more of the things you love, you must recognize that certain aspects of work will expand to fill all available space. She uses e-mail as an example. We should carve out time to go after the higher priority item, and the best way to do this is a power hour. So, for the first hour of the day instead of doing e-mail, work on the first top priority item of the day. Try to carve out Monday morning for whatever is most important to you. And particularly for sort of speculative important but not urgent work that you’re going to have a hard time carving out time for. If you do it Monday morning it’s kind of the equivalent of paying yourself first.
This type of process is best for a high priority project but not a urgent project.. Time is our most valuable and precious assets, so it’s important to use effectively and wisely. I’ve found myself getting up early so I can carve out time to manage my spiritual life, and my business life. Arriving earlier to work allows me time to work on larger weekly tasks without having to be stressed. By doing this simple habit, I build margin into my time, and honor the principle of rest and I don’t go into time debt.

http://www.businessinsider.com/best-books-for-first-time-investors-according-to-a-financial-adviser-2017-4

If you are uncertain, optimistic or nervous about investments right now, it may be a good time to do a little reading. Knowledge is really the best way to counterbalance emotions, which we know may be running high for some right now. Our advice: Check out what the masters have said. They’ve devoted their lives to understanding investing and captured it all in print. It turns out there is truly nothing new under the sun; their insights apply year-in and year-out. We love original sources, so here’s our top seven books for you to read or re-read. If you don’t enjoy reading, then I challenge you to build this important habit. The books express the author’s ideas more fully than video or audio. Try reading a page out of your favorite book a day, even if it’s a children’s book. If you still don’t enjoy reading, then try an audio version, video summary, or even consult with a respected friend. The top seven books are: Security Analysis by Benjamin Graham and David L. Dodd, Margin of Safety by Seth Klarman, Against the Gods: A History of Risk by Peter Bernstein, Antifragile by Nassim Taleb, The Upside of Stress by Kelly McGonigal, Wealth in Families by Charlie Collier, Classics: An Investor’s Anthology by Charles D. Ellis. Each book will introduce you into the world of risk, and proper thinking of an investor. It’s important to remember that you can’t just do the process, and expect the results, it’s even better to understand the process. Use your own gifts and talents that were given to you since you were born to creatively execute your investment strategy. Also have a budget. You should know what your bottom line number is monthly before you add on the stress of investing. Be willing to lose it all, and have in place an investment strategy for savings and for wealth. If you don’t have a budget in place then please contact me to let me show you my system.

If you need are interested in creating a budget, then contact me for a financial checkup in the contact me section. Also, learn more about the self-lending principle in the mustard seed section.

For this week, I’ve included the Darkness – Motivational Video from MulliganBrothers 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

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April 12, 2017

Items in italics are direct quotes from the articles below

http://www.investopedia.com/university/peratio/

Investors often want to compare how the share price of one company compares to that of another. But just looking at the stock price is like comparing apples to oranges since companies have different numbers of shares outstanding, and even if they had the same share float, companies operate in different industry segments or are at different stages in the corporate life cycle. Fortunately, financial analysts have developed a number of tools for such purposes of comparison. The price-to-earnings ratio, or P/E, the most widely used metric. Although it is quite a simple indicator to calculate, the P/E can be difficult to interpret. It can be extremely informative in some situations, while at other times it is difficult to parse. As a result, investors often misuse this ratio and place more evaluative power in the P/E than is sometimes warranted. This ratio measures the company’s stock vs its earnings, which can be measured against other companies. As a basic rule of thumb, a high P/E means the stock price is high compared to earnings which means the company is overvalued and the opposite is true. The link above is an introduction into an in-depth look at the P/E ratio and if you’re interested in learning about how to calculate it and how to and how not to use it in stock price analysis then please follow the link at the bottom of the article. For the sake of brevity, I included just the introduction.

http://www.investopedia.com/university/become-your-own-financial-advisor/

“If you don’t know where you are going, you might wind up someplace else.” – Yogi Berra If you build a house without a plan, what sort of results would you expect? Theoretically, you could get lucky and end up with the house of your dreams. What’s more likely, however, is that the house wouldn’t be anything like what you had wanted. You might need to move the doors and windows, build new walls and take down others – or worse. Investing isn’t any different. Without a plan, you could (again, theoretically) get lucky, but the odds are against it. Without goals – and a well-thought-out plan for meeting those goals – you probably won’t end up where you want to be financially, in either the short- or long-term. You have to make goals to meet goals. Historically investors have tried to beat the market or tried to get the highest rate of return possible. A new approach is goal based investing. This type of investing involves achieving certain life events such as saving for your retirement or buying your first house. The theory is that:

  • Setting goals makes it more likely that you’ll save for – and achieve – every goal.
  • You’ll be more motivated to reach a goal since you can gauge its progress.
  • You can consider the time horizon and risk level separately for each goal, and invest accordingly

Most people work with financial advisors to help achieve their financial goals, but the author advocates that you can be your own financial advisor if you are willing to put in the time and work. Due to the content of this article, I suggest you read the article in its entirety, and I’ve included some more content from the article:

Next, arrange your goals by the time horizon for achieving them:

Short-Term Goals Mid-Term Goals Long-Term Goals
Pay for a wedding Buy a vacation home Build a nest egg for retirement
Take a vacation Have the funds to start a new business Income stream for retirement
Save a down payment for a home Leave a financial legacy to your family
Save for your children’s education

Rather than just doing all this in your head – write it down. Putting your goals on paper makes them more “real” and you’ll be more likely to think about them. Plus, you can share your goals with your spouse, family or friends – which can give you a little motivational push.

The next step is to attach a dollar figure to each goal. With some goals, it’s easy to say how much you’ll need: for example, you plan on giving your daughter $5,000 (and no more!) to help pay for her wedding, or you want to save $10,000 for a trip to Antarctica. With other goals, it’s a bit trickier to nail down a specific amount, so you’ll have to spend some time crunching the numbers. There are lots of online calculators that can help – just search for the type of calculator you need, such as “retirement calculator” or “college savings calculator” to get started.

Once you have a list of goals and financial objectives for each, it’s easier to plan, budget and choose the right investments. In the next chapter, we’ll look at different retirement and tax-advantaged accounts you can use to meet your goals.

Like anything in life, if you want to become an expert at something, you need to practice your skill and learn from others better than you. Personally, I wouldn’t call myself a financial expert. I’m someone that cares about the financial health of myself and others and I share what I know in the hopes for a better future generation. What is your why?

If you need are interested in creating a budget, then contact me for a financial checkup in the contact me section. Also, learn more about the self-lending principle in the mustard seed section.

For this week, I’ve included FIRE WITHIN – Motivational Speech On Success from Motivation Archive 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

April 5, 2017

Items in italics are direct quotes from the articles below

http://www.investopedia.com/investing/when-interest-rates-rise-best-investment-strategies/

In December 2016, the Federal Open Market Committee (FOMC) raised interest rates for the first time in a year, and then raised them again in March 2017. Federal Reserve Chair Janet Yellen indicated that the Fed could raise interest rates even further later this year. But what do rate hikes mean for advisors, their clients and investment portfolios? When interest rates increase, bond prices decrease. And while many analysts expect equities to suffer when interest rates go up – which is what many had predicted for markets in 2016 – these more recent rate hikes have not taken the wind out of the U.S. stock market’s sails. Lately, it seems that when rates rise, the value of equities doesn’t take a hit. But there’s no telling how long this trend will last. (For more, see: Fed Increases Interest Rates at March Meeting.) It’s important to keep in mind that when the market suddenly increases or decreases due to the influence of political, civil, or economic forces, then a market correction will happen soon. Due to the high probability of this event occurring, the author encourages the investor to have a financial advisor to consult with to make sure that his or her investment strategy and portfolio is ready to handle this change. Although advisors can’t predict what is going to happen in the stock market and how it will react to future interest rate hikes, they can take measures to ensure their clients benefit from rising interest rates while taking all potential risks into account. In a simplified example, let’s say a client is a balanced investor which usually means a portfolio is a 60/40 mix of equities and fixed-income investments (such as bonds). In a declining interest rate environment, the asset allocation may be 60% fixed income and 40% equity to take advantage of rising bond prices. In a, rising interest rate environment, the allocation can flip to 60% equities and 40% fixed income to benefit from bullish equities. The client’s risk tolerance always remains intact and slight adjustments are made to take advantage of stock market movements. (For more, see: The 4 Most Important Effects of Rising Interest Rates.) A well-diversified portfolio can hold both domestic as well as foreign investments, but how do rising interest rates affect foreign exchange? If $1 USD equals $1.35 Canadian dollars, the U.S. dollar is stronger. This means it’s not a good time to exchange Canadian money into U.S. currency because Canadians will only receive $0.65 USD for every Canadian dollar exchanged. However, it would be a good time for Americans who want to invest in Canadian currency to take advantage of the foreign exchange while the dollar is strong. When investing in any foreign currency, it’s important to remember to buy low and sell high. This basic strategy doesn’t consider a continuous cash flow, so you must balance this strategy against your cash flow principles. Even the author doesn’t recommend trying to time the market to make a quick return, because what you’re doing is basically gambling.

https://www.gobankingrates.com/personal-finance/10-ways-make-first-billion-dollars/

For many, a six-figure salary is the endgame, the true sign that you’ve made it in life. But, among those who top lists like the Forbes 100, a six- or even seven-figure salary is pocket change, just another step toward true riches. If you’re raring to dial up your earnings and be among the world’s richest, you’ll need to emulate the habits and accomplishments of the wealthy. Here’s how you can get started. The seven steps are: start and commit to your business, make smart investments, invent a solution, pursue your passion, take action, collaborate, and adopt a billionaire mentality. On the Forbes list, most of the billionaires are business owners that scaled their business to make a global imprint. It’s important to take risks, but with a full commitment to your business model and philosophy. You must have a vision that will help as many people as possible for as many generations as possible. It’s important to make smart investments not only in assets but also in the greatest asset you have, yourself. Sometimes, the best inventions are not original but instead innovations or improvements on existing products. A prime example of innovation comes from billionaire businessman Sam Walton, who opened the first Walmart in 1962. What made Walmart an innovation was the idea that the business could expand enough to sell products to consumers at lower prices than other retailers, saving them money on basic necessities. This basic premise transformed the way America shopped, while making Walmart one of the biggest retailers in the world — and Walton one of the richest men. It’s important to pursue your passion, but it’s even more important to put that passion into action. I’ve talked to some aspiring business owners and they can’t seem to gain any traction in their business because they don’t have the necessary commitment to act on their passion. It’s important to collaborate, because essentially no man is an island. You’ll need a team to build a business, so why not have a co-founder? A co-founder who both compliments and challenges your points of view but ultimately has your vision at heart. Rich people have a rich mentality, according to Steve Siebold, author of “How Rich People Think.” He has interviewed over 1,200 of the world’s wealthiest people to uncover the secrets to becoming rich. “While the masses believe becoming wealthy is out of their control, rich people know that making money is really an inside job. It’s a cause and effect relationship,” he wrote on Business Insider. “Anyone can become wealthy. It has nothing to do with your education or where you come from. It’s not what you do that guarantees wealth, it’s what you are.” So, focus on making things and crafting solutions. Create new products, improve current products and help people. But most importantly, be resilient and keep pushing forward

If you need are interested in creating a budget, then contact me for a financial checkup in the contact me section. Also, learn more about the self-lending principle in the mustard seed section.

For this week, I’ve included Advice From The Most Successful People On The Planet – Episode 7 from Absolute Motivation 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

March 29, 2017

http://www.inc.com/jeff-haden/the-awful-truth-about-getting-rich-that-no-one-wants-to-hear.html

Many people want to be incredibly wealthy. (How you define “incredibly wealthy” is of course up to you–my “incredibly wealthy” may seem like pocket change to Floyd Mayweather, Jr.) Many people don’t hope to achieve that goal…but many people do. And there’s certainly nothing wrong with that. But you will never become incredibly wealthy by working for someone else. And you will never become incredibly wealthy by living a “safe” (more on that in a moment), “positive work-life balance,” time-clock-punching professional life. If you want to have a certain amount of money in the bank, then you are less likely to have it if you’re working for someone else. Even people with advanced degrees will earn an average income of less than six figures. When you work for someone else, you implicitly accept a limited upside and unlimited downside. Unless you somehow manage to be the employee version of a unicorn, you will never, ever become incredibly wealthy. In 2014, it took $127 million in adjusted gross income to make the top 400. (That sounds like a lot, but it just barely got you in the door. The average income of everyone on the list was $317 million.) Those are fun stats to whip out at parties, but what matters is how the top 400 made their money:

  • Wages and salaries: 4.4 percent
  • Interest: 4.2 percent
  • Dividends: 10.9 percent
  • Sale of Capital Assets: 65.2 percent
  • Partnership and S Corp Net Income: 16.2 percent

The author points out the way to become incredibly wealthy is to start your own business that can be scaled to a significant size. Unless you’re an actor, or musician, or athlete–in which case you’re still an entrepreneur, because you’re in the business of you–starting a successful business is the only realistic way to become incredibly wealthy. If that is your goal, you’ll need to start yours. Today.

http://www.investopedia.com/articles/fundamental-analysis/09/value-investing.asp

Value investing, and any type of investing, varies in execution with each person. There are, however, some general principles that are shared by all value investors. These principles have been spelled out by famed investors like Peter Lynch, Kenneth Fisher, Warren Buffet, John Templeton and others. In this article, we will look at these principles in the form of a value investor ‘s handbook.
Value investors agree that you should buy businesses and not stocks. Investors should look at the fundamentals of the company and not the trends in the stock price. You wouldn’t pick a spouse based solely on his or her shoes, and you shouldn’t pick a stock based on cursory research. You have to love the business you are buying, and that means being passionate about knowing everything about that company. You need to strip the attractive covering from a company’s financials and get down to the naked truth. Many companies look far better when you judge them on basic price to earnings (P/E), price to book (P/B) and earnings per share (EPS) ratios than they do when you look into the quality of the numbers that make up those figures. It’s best to invest in companies that you understand vs. being attracted to a company’s earnings. To quote Buffett: “look for three qualities: integrity, intelligence, and energy. And if they don’t have the first, the other two will kill you.” You can get a sense of management’s honesty through reading several years’ worth of financials. How well did they deliver on past promises? If they failed, did they take responsibility, or gloss it over? A good manager will be focused on growing the company and not just its market value. Growth in the company increases the value to the shareholders. If you do happen to find undervalue stocks and if you have the liquidity available, then go ahead and buy as much as you can. Keep in mind that the market only matters when you enter or exit a position. When you sell an investment, you expose your portfolio to capital gains and usually have to sell a loser to balance it out. Both of these sales come with transaction costs that make the loss deeper and the gain smaller. By holding investments with unrealized gains for a long time, you forestall capital gains on your portfolio. The longer you avoid capital gains and transaction costs, the more you benefit from compounding. Value investing requires a lot of patience and discipline, but when you do so, the potential payoff is large. Ask yourself how does this fit into my personal investing strategy? Do I like investing in paper assets, real estate, businesses or commodities? What is my concentration level? What is my exit strategy? Most importantly what is my legacy? When you look at your life through the lens of legacy you won’t lose focus on your vision and goals.

Items in italics are direct quotes from the articles above

If you need are interested in creating a budget, then contact me for a financial checkup in the contact me section. Also, learn more about the self-lending principle in the mustard seed section.

For this week, I’ve included Be Powerful –motivational speech video – T.D. Jakes from the Motiversity 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

March 22, 2017

http://www.investopedia.com/articles/personal-finance/070115/3-secrets-you-didnt-know-about-estate-planning.asp

Estate planning is complicated, which is why it’s highly recommended that investors seek an experienced financial advisor and/or attorney to help sort everything out. The three estate planning secrets below will help investors stay on the right path. (For more, see: Estate Planning: Introduction. The three secrets to know is avoid disinheriting children, divorce inheritance protection, and trust beats probate. If you have children from a previous marriage and want to pass your assets to them, then it’s possible that the stepfather or stepmother could pass those assets on to their children or even new spouse. A good way to prevent this event is using a living trust instead of a beneficiary designation or joint ownership. If you have a six-year-old child, then you’re not going to be very concerned with that child getting divorced at some point down the road. However, it’s never too early to start planning, and the divorce rate is currently around 50% in the United States. If you don’t take the correct actions, your child’s inheritance could end up in the hands of his or her ex. This is surely not what you have in mind for an inheritance, especially if your child is currently married and you’re not fond of the spouse. The solution is a specially designed trust. With this approach, trust shares are created when you pass, and each share will remain in the trust so the trustee can handle the shares. As a trustee, the child will be able to handle those funds as he or she desires, and this trust is protected from creditors and bankruptcy. An exception to the previous statement is if the trust is used to guaranty a loan, in which case the creditor can look for repayment from the trust. Finally, if your estate is planned through a will then it must go through the probate court system which often involves fees, taxes, and legal fees. An important note is that having a living trust doesn’t guarantee that you will avoid probate. In order to avoid probate, all assets must be titled in your name. This includes bank accounts, certificates of deposit (CDs), stocks, bonds, real estate, etc. (For more, see: 6 Ways to Lose Your Estate.) It’s important to consider the benefits of a living trust vs. a will. Trusts take a little more money to create, however as the author states in the long term, there is more money that can be left to your children. It’s important to be able to provide for your children’s children. If you’re interested in learning more about how I can help you with setting up a living trust contact me, and I’ll be glad to offer a direction.

http://www.investopedia.com/investing/alternative-investments-stock-market/

Most people think of investing as buying stocks and bonds. The more adventurous might think about a real estate investment trust (REIT). Also, some people consider buying stocks of mining companies or investing in a metals exchange-traded fund (ETF) as a way to invest in gold, silver, platinum and other metals. But what if you want to avoid anything that trades through a broker or online discount broker? There are alternative investment opportunities. Some of them can make you a lot of money, and some of them may make you a little money. Either way, you are not trapped into choosing stocks, bonds and ETFs that are traded publicly. When you start thinking about alternative places to put your money, you need to stay away from scams and get-rich-quick schemes. You need some legitimate investment vehicles that may help you prosper. (See also: Should Your Retirement Portfolio Include Alternative Investments?). The author made sure that all facts and figures were current as of February 15, 2017. The four alternative investments are peer to peer lending, real estate, gold, and owning your own business. With Peer to Peer Lending, your money is invested with a pool of other investors to loan money to people for either personal or business purposes. Your rate of returns is typically, however the risk is also higher, because these borrowers are typically not able to get loans through traditional lending institutions. I’ve discussed gold, real estate, and business in previous blogs, but it should be noted that the author recommends that an allocation of five to 10 percent in gold is considered healthy for an individual’s portfolio. It’s important to have a knowledge of each asset class. The question you should ask yourself is am I investing for capital gains or cash flow? Have I properly protected my assets? How liquid am I? Are my assets creating wealth? My strategy may not work for you because my wants, needs, goals and vision is different. Create a foundation for yourself and build from it.

Items in italics are direct quotes from the articles above

If you need are interested in creating a budget, then contact me for a financial checkup in the contact me section. Also, learn more about the self-lending principle in the mustard seed section.

For this week, I’ve included Don’t Allow Them to Doubt You – best motivational video from the Motivation Archive 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


March 15, 2017

http://www.investopedia.com/news/rich-get-richer-savers-lose-1-trillion/

America’s Gilded Age in the late nineteenth century was famous for industrialists who amassed unimaginable wealth — such as John D. Rockefeller, Andrew Carnegie, and Cornelius Vanderbilt – and also for the era’s startling poverty. The U.S. is seeing something like that today. The booming stock market, up three-fold since the financial crisis, is no source of excitement for risk-averse small investors and savers, particularly retirees who expected to live off interest income. From 2008 through 2015, U.S. savers lost nearly $1 trillion of income from the cratering of yields on bank deposits and bonds, according to research by insurance company Swiss Re cited by the Wall Street Journal. And that’s even after adjusting for the benefit from paying lower rates on personal debt. Back in 2007 one-year CD yields were close to 4%, and currently one-year CD yields are less than 1%. Many retirees who were dependent upon these higher rates are being forced to find spare to part time work just to make ends meet. Some are moving into the stock market in the hopes of higher yields, and some can’t pay their bills. Time is a valuable tool, and to take advantage of compounding interest, a person must start early and often. A person should constantly be investing in his financial education and at the same time continue to create value for the sake of generating income and or security. I do recommend teaching yourself the self-lending principle as a means of breaking free from the cycle of consumer debt. When you buy assets, buy assets that are passive income producing that can be turned into a system and scaled. Without being creative, I argue a person could become a victim of the wealth gap that today’s current retirees are experiencing. That wealth gap is highlighted by the disparity between the pay of CEOs and their workers, which grew even wider in 2016, according to a study by consulting firm Compensation Advisory Partners, as cited in a Bloomberg story. The study looked at 42 U.S. public companies, a relatively small sampling, but it nonetheless is sure to spark debate. It found a 5.5% median pay hike for their CEOs, roughly double the 2.8% rise for the year in hourly pay for non-farm private sector workers, according to the U.S. Bureau of Labor Statistics. There is an income gap between workers and CEOs, so it’s important to work your job but also mind your business. What is your business? Your life. Every penny that comes into your bank account is your responsibility. Make your money work for you without you having to always work for it.

http://www.marketwatch.com/story/robert-kiyosaki-says-entrepreneurs-should-read-this-book—-it-will-talk-to-your-soul-2017-02-28

Robert Kiyosaki has an unusual reading recommendation for would-be entrepreneurs — one that even the most devoted fans of the “Rich Dad, Poor Dad” author might not see coming. It tells the story of a knight about to meet his death in battle. It’s written by a Hollywood movie star. For Kiyosaki, it’s become a treasured read. “Believe it or not I read a lot of spiritual books. One of the best is ‘Rules for a Knight’ by Ethan Hawke,” Kiyosaki said during a January interview, when asked if there were any books he would recommend for MarketWatch readers. “It’s so well written, talks to your soul,” he said of the book. “All my friends are entrepreneurs and they all get copies of it.” This books takes the form of a letter from a knight written to his children right before battle, and it outlines the rules for being a knight. That may not sound like fertile material for learning the secret to success in the 21st century business world, but the knight’s rules do have an aura of entrepreneurial mantra about them. The rule for humility begins, “Never announce that you are a knight, simply behave as one,” while the rule for gratitude states, “For all that has been, a knight says, ‘Thank you.’ For all that is to come, a knight says, ‘Yes!’ ” Robert Kiyosaki states that he only operates at the highest of spiritual values and seeks to do business with people with similar values. Values such as integrity, and honor are words with significant meaning. Personally, I look for a person with strong spiritual values such as transparency, integrity, and consistency. Another book he recommends is “The Untethered Soul,” by Michael A. Singe. If you prefer your reading to be more firmly rooted in the worlds of business and finance, Kiyosaki suggested two books on economics in MarketWatch’s live interview with him in August, which you can read more about here. Robert Kiyosaki’s “Rich Dad Poor Dad” is coming upon its 20th anniversary, and it is a good introduction into looking at money differently. This book was personally recommended by my good friend. His mentoring and this book helped shape in part how I look at finances. If you read that book, then you must read his second book “Cashflow Quadrant”. If you don’t enjoy reading, then I suggest the audio book version or even the short summary clips you can find on YouTube. However, reading is essential to being able to see into how a writer thinks and it’s not the same as a quick edited version. I’ve found that when I’m struggling to read a book, I read something I enjoy reading and then pick up and read from the book I’m struggling with. Block out a time even if you have to set an alarm for it to make the time to read. Your brain is a muscle and it needs a work out from time to time.

Items in italics are direct quotes from the articles above

If you need are interested in creating a budget, then contact me for a financial checkup in the contact me section. Also, learn more about the self-lending principle in the mustard seed section.

For this week, I’ve included The Wisdom – Bruce Lee from the Absolute Motivation 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

March 8, 2017

http://www.marketwatch.com/story/this-is-no-1-financial-regret-of-older-americans-2016-05-17

Most Americans are filled with regrets — financial regrets. Fully three in four, in fact, admit they harbor financial regrets, according to a survey of more than 1,000 adults by Bankrate.com. Their biggest regret: not saving for retirement early enough (nearly one in five Americans put this in the No. 1 spot). What’s more, among those 65 and up, 27% said this was the biggest regret, compared with 17% of those aged 30 to 49. The author goes on to show the consequences of waiting to save comparing the difference of saving at age 25 vs 35. According to 2015 data from the Employee Benefit Research Institute, fully 28% of workers say they have less than $1,000 saved and 17% have between $1,000 and $9,999; meanwhile, just 14% of workers have $250,000 or more saved. That’s far too little, according to many financial advisers: Guidelines from Fidelity, for example, state that by the age of 30, you should have your entire salary saved; by 40, three times your salary saved; and, by 50, six times your salary saved. Other financial regrets include not having an emergency savings and too much student loan debt. It’s important to have a budget to know how much is coming out and when it’s coming out. Make sure you have positive cash flow at the end of the month. If you do, I recommend a simple 10-10-80 strategy and just as important starting to use the self-lending principle.

We’ve all heard the stories of young entrepreneurs who start a successful business from their parents’ basement. But how do you build a business from inside a van? Mariah Coz knows. She built a seven-figure business in a 35-square-foot van–that’s about the size of a small bathroom!–which she shared with her boyfriend as they traveled across the country. They spent about a year and a half on the road, visiting nearly every state in the continental United States. Among her favorite experiences were hiking in Yosemite, exploring Yellowstone, and seeing the Grand Canyon. Mariah took her expertise of living in her camper and turned into an online course, and began teaching business strategy through her company Femtrepreneur. She teaches others interested in freedom how to build online business and offers six important tips. The tips are: be flexible, pick one day a week and block out five to eight hours for work, figure out what chains have the best Wi-Fi and become a repeat customer, do less with more impact, set realistic expectations and goals, and focus on mobile-friendly marketing. You must be able to systematize your business so it will run with as little involvement from you as possible. The author suggests setting aside a block of time to complete all your tasks for the week which will allow focus and productivity. If you are going to use a business’s Wi-Fi I suggest that you have a good identity theft protection plan in place, because your information is on an open network and can become compromised. “When you have limited time to devote to your business, you have to focus on the high-impact activities and cut out all the rest. That means applying the 80-20 principle–focusing on the 20 percent of activities that bring in 80 percent of your revenue. Focus on just one product, one marketing channel–one thing at a time,” she says. Finally, it’s important to set realistic goals while at the same time making sure that your marketing is convenient for your needs if you are constantly traveling. Mariah believes everyone has unique life experiences and skills that can help people and can be monetized. And the good news is, it doesn’t need to take a lot of time or money to get started. As she puts it, “You can start now with what you have, where you are, no matter what situation you are in!” It’s important to act, and to not waste your days because they are measured. Ask yourself how can I take advantage of my unique gifts and knowledge, how can I reach the world and make it better, and how can I do it just once and have it accessible to the world? If you can figure out how to answer these three questions, then in my opinion you can build a business.
Items in italics are direct quotes from the articles above

If you need are interested in creating a budget, then contact me for a financial checkup in the contact me section. Also, learn more about the self-lending principle in the mustard seed section.

For this week, I’ve included Retrain your Mind from the Be Inspired 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