Money 04 (Jan 14 - Dec 16)

[winston]

How Old Money Spends One Million Dollars By Bill Bonner

Give $1 million to an average person, and he immediately thinks of what it will buy. But give a million to an old-money family, and it goes into a business… an investment… or a new entrepreneurial venture.

What matters for old money is producing, not consuming. We don’t want to consume goods and services. We don’t want to consume information and ideas. We don’t want to consume Wall Street’s fee-stuffed products for high-net-worth individuals, either.

Let others drive their fancy cars, carry their expensive handbags and have their addresses in the chic zip codes. Old money doesn’t show off by buying things. It prefers to keep a low profile… and a low cost of living.

Old money knows that investment costs have to be kept down, too. The best way to do that is to avoid hedge funds and structured products. Stick with simple, low-cost, long-term investments.

Source: ETR

[winston]

"The only way that I believe you can break out of what you are, is to actually create more income for your life."

- Mark Ford

[winston]

3 Keys to Attracting More Prosperity Now

http://www.abundantentrepreneur.com/3-k ... erity-now/

[winston]

Income Doesn't Matter...Here is Why By Bill Bonner

It’s capital that counts, not income. Most people – even high earners – are on a treadmill. They earn. They consume. There isn’t much left.

Since their consumption depends on their income, they are eager to increase their income at every opportunity.

Not so with old money. It knows that in the long run, income barely matters. It knows, too, that expenses normally rise with income, but not with real capital gains.

In other words, when you earn more money, your taxes rise… and you tend to spend the extra money on lifestyle enhancements. But if the value of the family farm goes up, the extra wealth tends to stay put.

The typical young person is encouraged to go out and get the best-paying job he can find. Then he enters the labor force and spends the rest of his life trying to stay ahead of his expenses. He becomes a living example of the old expression, “Too busy to make money.”

I tell my children: “Don’t worry about how much you make. Worry about what you learn… and what you end up with. Tell your employer you’d rather have equity than a salary increase.”


Source: ETR

[winston]

"Get a millionaire mentor.

Most of us were brought up middle class or poor and then hold ourselves to the limits and ideas of that group.

Get your own personal millionaire mentor and study them.

Most rich people are extremely generous with their knowledge and their resources."

- Grant Cardone

[winston]

How to Create a Millionaire Mindset


Simply watch this video regularly to reprogram your subconscious mind and watch how life magically begins to attract financial opportunities to you.


http://www.mindbendingvideos.com/how-to ... e-mindset/

[winston]

How to Become a Master Money Manifestor

http://www.mindpowernews.com/MoneyManifesting.htm

[winston]

Program Your Subconscious Mind for Wealth and Luxury

Simply watch this video regularly to reprogram your subconscious mind and watch how life magically begins to attract financial opportunities to you.

http://www.mindbendingvideos.com/progra ... nd-luxury/

[winston]

3 Keys to Life Satisfaction By Arthur C. Brooks

“There is nothing wrong with money, dude," said the swami, "The problem in life is attachment to money.”

The formula for a good life, he explained, is simple:abundance without attachment.

The Dalai Lama also teaches that material goods themselves are not the problem.

If we are lucky enough to achieve abundance, we should be thankful for it and work to share the means to create it with others around the world.

The real trick is the second part of the formula: avoiding attachment.

The practices can help.

Source: ETR

[winston]

Don't let these 6 things hold you back!

If you’re having a tough time achieving abundance or if you feel that life is passing you by, and you haven’t achieved your dreams, it may be because of the mindset that you have.

Remember that your external world is just a reflection of your internal world.

Your reality, your level of income, your net worth, level of happiness, and how highly other people think of you are all reflections of how you choose to think.

By changing your internal mindset, you can change your external reality.

Unfortunately, people who are unsuccessful often subscribe to mindsets that are harmful to them.

Not surprisingly, they live desperate lives that they hate, but don’t seem to be able to let go of the mind frame that’s making them poor, unhappy, frustrated, and otherwise unable to live up to their fullest potential.

Here are some mindsets you need to kick to the curb immediately!


Don't Say "It’s Impossible"

If you hear yourself saying this phrase, remember that it doesn’t come from nowhere.

It’s part of a mindset. In many cases, this limiting belief prevents you from thinking big, from taking the right risks, and from pursuing your dreams.

The moment you say “something is impossible,” you cut off the possibility of whatever you are aiming for ever happening.

Impossible is such a negative and definitive word.

Successful people don’t focus on how seemingly impossible things are. They don’t care what other people’s opinions are, and they believe that anything is possible.


Don't Think "Some People Are Just Lucky"

One of the most common excuses is the concept of luck.

Luck is such a tempting concept because it takes the blame from you.

Instead of confronting the reasons why you’re failing, you just chalk it up to luck. Luck, after all, is random so there is no need for you to change or feel bad that you keep doing the same things repeatedly that lead to the same lousy results.

Instead of taking responsibility for always making bad decisions, luck basically makes your lousy results the product of random draw.

Since there is no moral blame, there’s really no need for you to change.

See how it goes? Unfortunately, it doesn’t lead to you making the changes that you need to achieve the success that you are capable of.

So, while luck can sometimes play a part in success, it does NOT determine success.

Your own effort and skills have much more impact on a successful outcome than any version of luck will ever have.


Don't Believe "I Can’t Afford It"

Another mindset involves the cost of purchase or how much capital is needed for investments.

By saying “I can’t afford it,” you break up from the chance of coming up with a solution so you can buy something or make an investment.

The phrase “I can’t afford it” is absolute. There is no leeway for creative solutions.

The door isn’t open to making the right kinds of sacrifices or coming up with the right creative solutions to come up with the money; it is absolute.

The moment you say “I can’t afford it,” you’re basically freezing yourself out.

This is hardly the mindset of a winner because you focus on the impossible instead of focusing to solve the puzzle and gain some reward.

Instead of saying “I can’t afford it,” why not say “How can I afford it?”

Take on an extra job, sell some things around the house, or figure other ways to be creative around money or finances in general. If you put your mind to it, you can certainly find ways to achieve your dreams.


Never Say "It’s Too Late For Me"

Closely related to the phrase “I can’t afford it,” “It’s too late for me” shuts you off from opportunities by basically telling your mind that you don’t have the time.

This mindset is essentially saying that the opportunity has passed.

When you condition yourself to think this way, you will always miss the bus when it comes to opportunities.

Believe that it’s never too late to begin something good. Here are a few success stories that happened to “late bloomers.”

When most people were close to retirement, 2 individuals started pursuing their dreams late in life. The first was Ray Croc. He was a milkshake machine salesman. In 1954 at age 52, he bought a hamburger stand from the McDonalds brothers in San Bernadino, California.

He revolutionized the fast food industry as we know it today, and created a uniform system for producing mass quantities of food very quickly and efficiently.

The rest is history. Likewise, Harlan David Sanders (aka Colonel Sanders) founded Kentucky Fried Chicken when he was 65 years old.


Oh Boy "The Only Way To Get Ahead Is To Know The Right People"

This is such a common excuse.

Many people who find themselves stuck at the bottom keep saying that the whole system is rigged against them.

They point to the fact that people get jobs because they know the right people.

While this is true in some circumstances, this doesn’t absolve you of the responsibility for trying. Thinking that the only way to get ahead is through connections generally shuts yourself off from starting at the ground floor.

Check out our “From Poverty to Abundance” series, and you will see multi-billionaires who started from the bottom. Don’t expect to start at the top or in the middle.

Don’t be afraid to start at the lowest level. Get this silly concept about needing connections out of your head.

The only connection you really need is the one from your brain to your body, so that you take action when your brain says, “GO!”


Don't say "I’ll Get To It Later"

Make no mistake, success needs to be taken care of; right here, right now.

You have to plan now and start acting.

While it is true that the actual objectives will be met in the future, you need to take action now. If you keep saying to yourself “I’ll get to it later,” you are essentially just kicking the can down the road.

You will continue to reap the same poor results time after time until you will resolve to take control in the here and now.

If you want to achieve your dreams, you need to get rid of these 6 mindsets outlined above.

They are unfortunately very common, but with the right practice and the right focus, you can work your mind into thinking like a winner and stop getting loser’s results!


Source: The Abundance Project