Money 01 (Sep 08 - Mar 10)

[winston]

Wealth Building - The Key to Creating Your Own Wealth Building Plan

I'll share with you the techniques I've used to construct my own wealth plan. It's something I've created an acronym for: LACEDâ„¢.

The LACED principleâ„¢ is fairly straightforward. LACEDâ„¢ stands for:
1) Leverage
2) Automated
3) Compounding
4) Ethical
5) Duplicatible

If you create a wealth building plan using all of these principles, you'll likely have a strong plan.

I've heard many wealthy people speak about leverage. Basically you'll want to use as much leverage as possible to build wealth. You can do so by utilizing vehicles that allow you to control large assets with smaller assets.

Some examples of this are, buying an investment piece of real estate with 10% down. This is incredible leverage if you think in terms of the fact that you can control $180,000 worth of property for $18,000. In some cases you may be able to control real estate with absolutely no money down!

Another example would be buying stock options. In this case you purchase the right to buy or sell stock but not the obligation. This is a highly risky proposition and should not be tried without extreme due diligence and some understanding of how options work. Suffice it to say that with options, you can control 100 shares of stock (1 contract) for a small fraction of the price of the underlying security. By the same token, a small movement in the right direction on the underlying security can magnify the value of the option considerably.

Next, you should try to automate as much of your plan as possible. Anything that doesn't require you actively working on it will free your time to build greater momentum towards your wealth goals. The internet has greatly enabled strides in this way. Consider how quickly you can buy and sell stocks online, research real estate information, or even sell products completely online through an automated payment process.

Compounding is one of the most powerful tools we can use to build wealth. There are a lot of different strategies for compounding. You may want to reinvest profits in your business to grow the business larger. You may reinvest your returns in the stock market to grow your portfolio more quickly. The more you are able to make your existing assets work for you, the faster you will propel yourself towards wealth.

Some might say that doing things ethically is more of a moral choice than an actual tool for wealth creation, but I will counter with the fact that every major religion on earth I've studied has in some way said what goes around comes around. In other words if you cheat, eventually you're going to lose. Deal with everyone honestly and you'll get wealthy faster.

An interesting take on this is something many people won't think about. When you don't have a lot of cash, you don't want to spend money on CPAs, Attorneys or other professionals to help you grow your wealth. You'd like to have their service but don't want to pay the price. This isn't ethical. You wouldn't want to give your labor away, and yet you feel they should. This is where those ethics are really going to make a difference! You get what you pay for and if you try to be cheap you'll very likely get cheap advice.

Finally, you want to make sure the core components are as duplicatable as possible. If something works one time, it may get you a large gain, but if it doesn't work twice it may give you a huge loss the second time around. I've had a lot of my mentors tell me that a lot of small gains are much better than having one big homerun. Find things that leverage, compound and are as automated as possible and then pick those that are duplicatable and you will have an astonishing wealth building machine in place.

I hope you can take this lesson and build your own wealth plan with it. It may sound vague and it is, but I believe it holds all of the secret ingredients you'll need to work your way towards having your wealthy future all LACED up!

Authors Details: Rasheed Ali and Bill White

[winston]

Use The Law of Attraction to Attract Money by Casey Natter

The law of attraction is an effective if little known way to attract money. The very basics of this law states that if you focus all of your energy to attracting money and you use money in a positive manner, you can attract money. This means that when you give gifts or use money for others you use it with love and give the money your blessing. Many look at this as positive thinking but it is really much more intense then just thinking positively.

When trying to attract money you have to use both your conscious and subconscious energy to focus on attracting money. You have to enjoy money and get rid of any ideas that having too much money is wrongs and that there is something noble about suffering and being poor. All of that is nonsense and no one understands that better then those that are wealthy. They understand the power that money and attracting money has.

To focus all of your energy to attracting money it is suggested you begin a course of meditation and internal reflection. You first need to understand your reaction to money as many people do actually have an internal resistance. Most individuals feel guilty if they are presented with a large sum of money and they did not work for this. While those that are focused on attracting money would not question the instant.

Having a healthy respect and love for money is a great way to help get your focus on track. Having a healthy respect means you do not only attract money but you use money in a beneficial, smart and caring way. To attract money you cannot be a scrooge but you need to let that money out into the market with your blessing. You can give gifts to people or do something as simple as donating a few coins to a charity every single day.

To attract money you actually need to be carrying money. Money will attract money and credit cards will attract debt. Instead of carrying a credit card switch to a debit card as many people do not like to carry large sums of money.

You can use a combination of the above ideas to begin attracting money today. Visualization and meditation will not only help you attract money but you will feel more relaxed and energized, ready to go out and accomplish your goals.

http://www.selfgrowth.com/articles/Use_ ... Money.html

[kennynah]

"gimme the monei...gimme the monei....gimme ALL the monei...."

[winston]

On Wealth :-

Paul: People who want to be rich fall into all sorts of temptations and traps. They are caught by foolish and harmful desires that drag them down and destroy them.

1 Timothy 6:9

[winston]

What Is Your Money Blueprint? by T Harv Eker

All of us have a personal money blueprint ingrained in our subconscious minds that will determine our financial lives.

Have you ever wondered why some people seem to get rich easily, while others are destined for a life of financial struggle? Is the difference found in their education, intelligence, skills, timing, work habits, contacts, luck, or their choice of jobs, businesses or investments?

The shocking answer is none of the above!

No doubt you’ve read other books, listened to tapes or CDs, gone to courses and learned about numerous money systems, be they in real estate, stocks or business. But what happened? For most people, not much! They get a short blast of energy, and then it’s back to the status quo.

Finally, there’s an answer. It’s simple, it’s law, and you’re not going to circumvent it. It all comes down to this: If you subconscious “financial blueprint” is not set for success, nothing you learn, nothing you know and nothing you do will make much of a difference. I’ll explain more about this later.

http://www.selfgrowth.com/articles/what ... print.html

[kennynah]

i miss the old cantonese song sang by the hong kong Hui brothers..

钱，钱，钱，钱。。。

[winston]

Wealth Files from Secrets of the Millionaire Mind by T Harv Eker

Wealth File #1: Rich people believe “I create my life.” Poor people believe “Life happens to me.”
Money is extremely important in the areas in which it works, and extremely unimportant in the areas in which it doesn’t.
When you are complaining, you become a living, breathing “crap magnet.”
There is no such thing as a really rich victim!

Declaration: “I create the exact level of my financial success!”


Wealth File #2: Rich people play the money game to win. Poor people play the money game to not lose.
If your goal is to be comfortable, chances are you’ll never get rich. But if your goal is to be rich, chances are you’ll end up mighty comfortable.

Declaration: “My goal is to become a millionaire and more!”


Wealth File #3: Rich people are committed to being rich. Poor people want to be rich.
The number one reason most people don’t get what they want is that they don’t know what they want. If you are not fully, totally, and truly committed to creating wealth, chances are you won’t.

Declaration: “I commit to being rich.”


Wealth File #4: Rich people think big. Poor people think small.
The Law of Income: You will be paid in direct proportion to the value you deliver according to the marketplace.

Declaration: “I think big! I choose to help thousands and thousands of people!”


Wealth File #5: Rich people focus on opportunities. Poor people focus on obstacles.

Declaration: “I focus on opportunities over obstacles.”
Declaration: “I get ready, I fire, I aim!”


Wealth File #6: Rich people admire other rich and successful people. Poor people resent rich and successful people.

“Bless that which you want.” – Huna philosophy

Declaration: “I admire rich people!”
Declaration: “I bless rich people!”
Declaration: “I love rich people!”
Declaration: “And I am going to be one of those rich people, too!”


Wealth File #7: Rich people associate with positive, successful people. Poor people associate with negative or unsuccessful people.

Declaration: “I model rich and successful people.”
Declaration: “I associate with rich and successful people.”
Declaration: “If they can do it, I can do it!”


Wealth File #8: Rich people are willing to promote themselves and their value. Poor people think negatively about selling and promotion.

Leaders earn a heck of a lot more money than followers!

Declaration: “I promote my value to others with passion and enthusiasm.”


Wealth File #9: Rich people are bigger than their problems. Poor people are smaller than their problems.

The secret to success is not to try to avoid or get rid of or shrink from your problems; the secret is to grow yourself so that you are bigger than any problem.

If you have a big problem in your life, all that means is that you are being a small person!

Declaration: “I am bigger than any problems.”
Declaration: “I can handle any problems.”


Wealth File #10: Rich people are excellent receivers. Poor people are poor receivers.
If you say you’re worthy, you are. If you say you’re not worthy, you’re not. Either way you will live into your story.
“If a hundred-foot oak tree had the mind of a human, it would only grow to be ten feet tall!” – T. Harv Eker
For every giver there must be a receiver, and for every receiver there must be a giver.
Money will only make you more of what you already are.
How you do anything is how you do everything.

Declaration: “I am an excellent receiver. I am open and willing to receive massive amounts of money into my life.”


Wealth File #11: Rich people choose to get paid based on results. Poor people choose to get paid based on time.
There’s nothing wrong with getting a steady paycheck, unless it interferes with your ability to earn what you’re worth. There’s the rub. It usually does. Never have a ceiling on your income.

Declaration: “I choose to get paid based on my results.”


Wealth File #12: Rich people think “both.” Poor people think “either/or.”
Rich people believe “You can have your cake and eat it too.” Middle class people believe “Cake is too rich, so I’ll only have a little piece.” Poor people don’t believe they deserve cake, so they order a doughnut, focus on the hole, and wonder why they have “nothing.”

Declaration: “I always think ‘both’.”


Wealth File #13: Rich people focus on their net worth. Poor people focus on their working income.
The true measure of wealth is net worth, not working income. Where attention goes, energy flows and results show.

Declaration: “I focus on building my net worth!”


Wealth File #14: Rich people manage their money well. Poor people mismanage their money well.
Until you show you can handle what you’ve got, you won’t get any more! The habit of managing your money is more important than the amount. Either you control money, or it will control you.

Declaration: “I am an excellent money manager.”


Wealth File #15: Rich people have their money work hard for them. Poor people work hard for their money.
Rich people see every dollar as a “seed” that can be planted to earn a hundred more dollars, which can then be replanted to earn a thousand more dollars.

Declaration: “My money works hard for me and makes me more and more money.”


Wealth File #16: Rich people act in spite of fear. Poor people let fear stop them.
Action is the “bridge” between the inner world and the outer world. A true warrior can “tame the cobra of fear.” It is not necessary to try to get rid of fear in order to succeed.

If you are willing to do only what’s easy, life will be hard. But if you are willing to do what’s hard, life will be easy. The only time you are actually growing is when you are uncomfortable.

Training and managing your own mind is the most important skill you could ever own, in terms of both happiness and success.

Declaration: “I act in spite of fear.”
Declaration: “I act in spite of doubt.”
Declaration: “I act in spite of worry.”
Declaration: “I act in spite of inconvenience.”
Declaration: “I act in spite of discomfort.”
Declaration: “I act when I’m not in the mood.”


Wealth File #17: Rich people constantly learn and grow. Poor people think they already know.
You can be right or you can be rich, but you can’t be both.
“Every master was once a disaster.” – T. Harv Eker
To get paid the best, you must be the best.

Declaration: “I am committed to constantly learning and growing.”

“The mark of true wealth is determined by how much one can give away.” – T. Harv Eker

[winston]

Wealth Comes in Many Forms by Peggy McColl

My mentor, Bob Proctor, once said, “Don’t cry over anything that won’t cry over you.” People will often create tremendous suffering for themselves just because they’re in debt or have lost money. They’ll generate intense feelings of anger, sadness, and fear, all of which are destructive and actually make it more difficult for them to regain the wealth they lost. Because they’re upset, they may fight with their spouse over money or become severely depressed, not realizing that the power to create abundance for themselves once again is always available to them.

When you understand that money is simply one form of the tremendous force known as abundance or wealth, and that you can always receive riches from our ever-giving Universe, it becomes easier to let go of negative feelings about money and the destructive belief that material wealth is more important than other manifestations of abundance.

Ask yourself how much money you would take in exchange for your eyesight and your abundant health. How much would I have to pay you for you to give up your relationship with the person you love the most? My guess is that your health, your eyesight, and the people you love are far too precious to trade for any amount of money.

If what you receive isn’t money, open yourself up to it with gratitude and joy. Allow your creativity to flourish and you can discover ways to convert the abundance into the form you could most use right now.

Wisdom and knowledge are types of abundance that we often overlook. An antiques dealer I know often purchased items from homeless people who brought him furniture and other objects they’d found in the garbage.

He was always gracious and kind to them, and one day one of his regular sellers, who was a homeless man, noticed that the dealer had recently acquired a gold record by a celebrity.

“You have that underpriced,” he said. “I used to work in the music business. I know.”

The antiques dealer listened to what the man had to say and decided to take his advice and quadruple the price. A few days later, the dealer’s dentist came in, got very excited about the gold record, and said, “Listen, I’d love to own that, but I don’t have that much in cash to spend. How about if I do that dental work I recommended to you, in exchange for the gold record?”

The antiques dealer was able to pay for expensive dental procedures he needed and couldn’t afford, because he valued the abundance that came to him from an unexpected source and converted it into something he could use.

This excerpt taken from Peggy’s new book “21 Distinctions of Wealth”

http://www.selfgrowth.com/articles/Weal ... Forms.html

[winston]

Anticipating Abundance by Kidest M.

The mind in movement is either remembering or projecting. When you're in the process of thinking, when thoughts are arising, their direction is dual. You're either remembering the past or you are thinking ahead about the future. Right now requires no thought. Right here and right now, the space in which you breathe, requires no thought, planning, or problem-solving. You don't have to think at all about your immediate moment and environment.

When it comes to the flow of money, the mind continues to do one of two things. It either looks ahead and sees lack and all the ways there won't be enough money, or it will look to the past to reference what was done before about money. Your mind, by default, looks to troubleshoot the problems of lack it's imagining by referencing past moments in which you may have experienced lack. It creates a loop, a recurring story or train of thought, about money shortage and what to do about it, and plays it frequently in your awareness.

http://www.selfgrowth.com/articles/Anti ... dance.html

[winston]

The Most Valuable Thing That Money Can Buy By Michael Masterson

Take a sheet of paper and draw a vertical line down the middle of it. On the left side of the page, under a column marked "Things I Enjoy," make a list - maybe something like this:

Time with family and friends
Reading
My hobbies (List them.)
My house
My car
My stereo
My clothes
and so on...

On the right side of the page, write down a number from 1 to 5 that indicates how much ongoing enjoyment you get from each of those things. What you'll probably find out is that most of the best things in your life, as the saying goes, are, indeed, free.

That's the way it is for you. That's the way it is for me. And that's the way it is for everyone else, including billionaires.

The most valuable thing that money can buy you is the freedom to spend your time as you see fit. And when you reach the point where you can spend most of your time paying attention to those things that bring you the greatest pleasure, chances are you won't spend a great deal of money (unless you are unfathomably shallow).

You'll probably choose to spend your time conversing with friends, reading good books, enjoying art and travel - living the kind of life you imagine wealthy English or French aristocrats did in centuries past.

To some extent, at least, you can do that right now.