Aug
29
J. Burley
Everyone dreams of the day that they can quit their day job because they have finally made themselves financially independent; however, the means to achieving such an end continues to elude the vast majority of individuals today which is why some of those who have increased their personal wealth to such a point as to become financially independent have chosen become a millionaire mentor. These mentors use their experience with making money to teach individuals how to limit their personal expenses, to balance their financial statements, to differentiate between profitable deals and deals that may create a deficit, and to generate a steady stream of capital to increase an individual’s personal wealth.
The most common lesson that a millionaire mentor can teach an aspiring millionaire is how to limit their personal expenses. Personal expenses may include rent or mortgage payments, typical bills, credit card payments, expenses associated with entertainment or luxuries, and any other debit against your financial accounts. Many individuals, through credit cards and loose spending, spend more than they can afford to extend thereby creating a situation in which they are constantly in debt. Debt levels today are increasing dramatically. Between automobile loans, mortgages, credit cards, and home mortgages the average individual is almost twenty thousand dollars in debt. A mentor can teach you how to mitigate this debt and how to begin to pay back the debt in full in order to start your financial future with a clean fiscal slate.
Once an individual has repaid their incurred debt, then they must learn how to keep themselves from incurring more debt. While his sounds easy enough, the vast majority of individuals who are seeking to become financially stable have a very hard time staying out of debt for one reason or another. Regardless of the reasons for incurring the debt, the solution that is often preached about is fiscal responsibility – the strength and will power to not buy that new car or new television or anything else that you cannot afford. This is a hard, but necessary, lesson to learn.
When an individual’s financial status has been stabilized through fiscal responsibility, the individual can begin to think about profitable investments that can generate the wealth needed to become a millionaire. However, determining when and how an investment should or should not be made can be a difficult process. Making the wrong investment can send an individual right back into debt (sometimes into a debt large enough that they can never recover financially). Therefore, it is important to know what to look for when determining if a potential investment is worth your hard earned capital. Since they have already gone through the process and have several, if not dozens, of successful investments on their resume, a millionaire mentor is the perfect person to guide a beginning investor through the murky waters of investment profiteering.
After the first successful investment, the process of money making gets easier and easier to pursue. The more money an individual earns through investing, the lower the percentage of capital is needed for investment thereby lowering their overall risk. A mentor can teach you how to create a steady stream of income by making several concurrent investments thereby making you the next big success.
Everyone dreams of the day that they can quit their day job because they have finally made themselves financially independent; however, the means to achieving such an end continues to elude the vast majority of individuals today which is why some of those who have increased their personal wealth to such a point as to become financially independent have chosen become a millionaire mentor. These mentors use their experience with making money to teach individuals how to limit their personal expenses, to balance their financial statements, to differentiate between profitable deals and deals that may create a deficit, and to generate a steady stream of capital to increase an individual’s personal wealth.
The most common lesson that a millionaire mentor can teach an aspiring millionaire is how to limit their personal expenses. Personal expenses may include rent or mortgage payments, typical bills, credit card payments, expenses associated with entertainment or luxuries, and any other debit against your financial accounts. Many individuals, through credit cards and loose spending, spend more than they can afford to extend thereby creating a situation in which they are constantly in debt. Debt levels today are increasing dramatically. Between automobile loans, mortgages, credit cards, and home mortgages the average individual is almost twenty thousand dollars in debt. A mentor can teach you how to mitigate this debt and how to begin to pay back the debt in full in order to start your financial future with a clean fiscal slate.
Once an individual has repaid their incurred debt, then they must learn how to keep themselves from incurring more debt. While his sounds easy enough, the vast majority of individuals who are seeking to become financially stable have a very hard time staying out of debt for one reason or another. Regardless of the reasons for incurring the debt, the solution that is often preached about is fiscal responsibility – the strength and will power to not buy that new car or new television or anything else that you cannot afford. This is a hard, but necessary, lesson to learn.
When an individual’s financial status has been stabilized through fiscal responsibility, the individual can begin to think about profitable investments that can generate the wealth needed to become a millionaire. However, determining when and how an investment should or should not be made can be a difficult process. Making the wrong investment can send an individual right back into debt (sometimes into a debt large enough that they can never recover financially). Therefore, it is important to know what to look for when determining if a potential investment is worth your hard earned capital. Since they have already gone through the process and have several, if not dozens, of successful investments on their resume, a millionaire mentor is the perfect person to guide a beginning investor through the murky waters of investment profiteering.
After the first successful investment, the process of money making gets easier and easier to pursue. The more money an individual earns through investing, the lower the percentage of capital is needed for investment thereby lowering their overall risk. A mentor can teach you how to create a steady stream of income by making several concurrent investments thereby making you the next big success.
Aug
27
Zamri Nanyan
At the beginning of the call, I heard Jim Bunch mentioning the most important point that will stick in my mind for a very long time.
“Surround yourself with the best of the best and you’ll produce the results of the best of the best.”
If you are into personal development, I believe that there is nothing new in that statement. However, Jim continued by saying that your “will power” is on only when you turn it on, but environments will stick with you 24 hours a day, 7 days a week.
If you managed to be in millionaire environments every second of your life, wouldn’t it make sense that you’ll stay millionaire or become a millionaire one day?
That clicked and made me want to know more about the environments Jim was referring to. In this article, I will briefly mention what the 9 environments of millionaires are as discussed by Jim Bunch.
1. Memetic Environment
Beliefs, ideas, knowledge and concepts are examples of memetic environment. They are intangible and very important because it starts with you believing that you can get what you want in life. You might ask “how to change your belief”. The answer is to change what you do and the result will change too. As soon as you see the results, you begin to believe. Think like a millionaire.
2. Relationships Environment
Family, friends, colleague and support personnel are in the “relationship environment”. This environment controls your behavior that causes you to think, act and feel in a certain way. As hard as it can be, sometimes you have to let go off some relationships in your life because they are not bringing in closer to your goals in life. Build a millionaire relationship with those who will always push you closer to your dreams and goals.
3. Network Environment
It is simply a community that you are in. This community has rules, values and beliefs on its own. You have to be extremely selective in choosing your network. Remember that millionaires network with millionaires. To identify if you are in the right network, identify the topics of your conversations when you are in your community. Do you talk about creating wealth, being a better husband or wife or simply the weather?
4. Financial Environment
This is the environment that causes people most stress. The problem with financial environment is that when you grew up, nobody seemed to talk about money. Soon you’ll realize that you have to manage your own money, investments and insurance, and you don’t know all of them certainly, especially once your wealth grows. This is the time when millionaires hire and surround themselves with specialists and mentors on finance. Millionaires have their own wealth team.
5. Physical Environment
Physical Environment revolves everything around you such as home, office and furnishings. Confused mind creates chaos and that’s what happens if your physical environment is not taken care of.
6. Nature Environment
Human beings require energy and you’ll feel a powerful energy from nature when you’re close to it. Have a jog in a gym and along a sandy beautiful beach and you’ll know the difference what nature environment brings you.
7. Body Environment
Most people are ignorant about their body environment. You have to treat your body like a temple, not a playground. That means you have to take care of your health because there is no point of having wealth without health. Health will **** the wealth out of your life.
8. Self Environment
Personality, personal gifts, talents and emotions belong to the self environment. You can’t see, smell or touch your self environment but you maybe able to identify them and make full use of your ultimate strengths. Use your self environment to match up with the world outside.
9. Spiritual Environment
It is your connection to higher source, love and self. If you are not in the habit of doing it, you’ll have to put yourself in the spiritual environment again. Change all your environments and you start to change your thinking.
Another important point is that you have to develop your own mastermind group so that you are always focus on your environments. Take seriously the 9 environments of millionaires above in the next 90 days. You will feel the difference in your life.
At the beginning of the call, I heard Jim Bunch mentioning the most important point that will stick in my mind for a very long time.
“Surround yourself with the best of the best and you’ll produce the results of the best of the best.”
If you are into personal development, I believe that there is nothing new in that statement. However, Jim continued by saying that your “will power” is on only when you turn it on, but environments will stick with you 24 hours a day, 7 days a week.
If you managed to be in millionaire environments every second of your life, wouldn’t it make sense that you’ll stay millionaire or become a millionaire one day?
That clicked and made me want to know more about the environments Jim was referring to. In this article, I will briefly mention what the 9 environments of millionaires are as discussed by Jim Bunch.
1. Memetic Environment
Beliefs, ideas, knowledge and concepts are examples of memetic environment. They are intangible and very important because it starts with you believing that you can get what you want in life. You might ask “how to change your belief”. The answer is to change what you do and the result will change too. As soon as you see the results, you begin to believe. Think like a millionaire.
2. Relationships Environment
Family, friends, colleague and support personnel are in the “relationship environment”. This environment controls your behavior that causes you to think, act and feel in a certain way. As hard as it can be, sometimes you have to let go off some relationships in your life because they are not bringing in closer to your goals in life. Build a millionaire relationship with those who will always push you closer to your dreams and goals.
3. Network Environment
It is simply a community that you are in. This community has rules, values and beliefs on its own. You have to be extremely selective in choosing your network. Remember that millionaires network with millionaires. To identify if you are in the right network, identify the topics of your conversations when you are in your community. Do you talk about creating wealth, being a better husband or wife or simply the weather?
4. Financial Environment
This is the environment that causes people most stress. The problem with financial environment is that when you grew up, nobody seemed to talk about money. Soon you’ll realize that you have to manage your own money, investments and insurance, and you don’t know all of them certainly, especially once your wealth grows. This is the time when millionaires hire and surround themselves with specialists and mentors on finance. Millionaires have their own wealth team.
5. Physical Environment
Physical Environment revolves everything around you such as home, office and furnishings. Confused mind creates chaos and that’s what happens if your physical environment is not taken care of.
6. Nature Environment
Human beings require energy and you’ll feel a powerful energy from nature when you’re close to it. Have a jog in a gym and along a sandy beautiful beach and you’ll know the difference what nature environment brings you.
7. Body Environment
Most people are ignorant about their body environment. You have to treat your body like a temple, not a playground. That means you have to take care of your health because there is no point of having wealth without health. Health will **** the wealth out of your life.
8. Self Environment
Personality, personal gifts, talents and emotions belong to the self environment. You can’t see, smell or touch your self environment but you maybe able to identify them and make full use of your ultimate strengths. Use your self environment to match up with the world outside.
9. Spiritual Environment
It is your connection to higher source, love and self. If you are not in the habit of doing it, you’ll have to put yourself in the spiritual environment again. Change all your environments and you start to change your thinking.
Another important point is that you have to develop your own mastermind group so that you are always focus on your environments. Take seriously the 9 environments of millionaires above in the next 90 days. You will feel the difference in your life.
Aug
26
paulashotass
I am looking to get rich but am currently broke. Please give me tips on how I can make money without investing any in the hot Real Estate market. Any sound advice is greatly appreciated.
I am looking to get rich but am currently broke. Please give me tips on how I can make money without investing any in the hot Real Estate market. Any sound advice is greatly appreciated.
Aug
24
Reality Millionaire: The New (Old) Game of 9 Rounds Anyone Can Play And Everyone Can Win
Filed Under Finance | Leave a Comment
Randy Gilbert
If making a million bucks were easy, we’d all be millionaires. Right? According to the statistics shared by Mike Peterson, co-founder of The American Credit Foundation and author of “Reality Millionaire: Proven Tips to Retire Rich,” most Americans are losing the money-making game. Take 100 people at age 20 and fast forward them to retirement. Only five percent of them will be financially okay. That’s not even ‘great’ or ‘independent’. Just okay.
In fact, most people lose in rounds one and two. “There are different levels to financial freedom,” says Peterson. “The first level of financial freedom is when you decide to take control of your finances. Let’s take another step, at the point that you manage your finances and income so you’re no longer in the red, but actually have a little money left over at the end of every month. Eventually we get to what I call ultimate financial freedom. I define that as, where you have enough money put away in investments that are spinning off enough of an income for you that you no longer have to go to work.”
The real key to getting started according to Peterson is that people need to make a decision to be responsible for their own finances. There are certainly many related causes for our society-wide tendency toward money blunders. Lack of financial education in schools is certainly a factor but Peterson thinks the real problem is closer to home. As an adult, there is no reason someone can’t go to a local library and tap into the wealth of information available and teach himself.
Once you commit to getting started, begin with rounds one and two below:
1. Round one is all about looking – really looking at your finances.
How much money will you need during your lifetime? Consider vacations, a child’s wedding, a house, cars and then add a million because you’d love to have a million someday and you will need something to retire on. Now consider how much you’ll earn. If you continue earning the same amount you currently do, how much will you earn over your working lifetime?
There’s a discrepancy there for most people and it’s easy to see why people who don’t pay attention are loosing the money game big time. Without conscientiously managing your money, the discrepancy will get worse, not better. Since most people don’t just buy a house with cash, they’ll actually be paying a lot more than the asking price. That goes for anything purchased with credit.
The great thing about money is that there are lots of ways to make it. Of course, there are at least as many ways to spend it. Riches, cautions Peterson, is not about how much you earn, it’s about how much you’re saving and how well that money is working for you.
2. Round two is about finding your own pot of gold with the 10-15% of your spending that doesn’t buy you very much and putting it where you need it most.
“I’ve been teaching classes in financial management for years, and I have never met anyone that couldn’t find this extra money in their current budget,” says Peterson. Start by writing down all of your monthly expenses. Most Americans can’t account for 10-15%.
To get more exact numbers, you need to actually track your spending for at least 7 days but preferably a month. Write everything, even the loose change vending machine purchases, down. Don’t change your spending habits just because you’re tracking it this time around. That will come next as you fund an emergency savings account.
The first two steps really do keep most people from winning. Once you’ve committed to controlling your financial future and you’ve found a little extra money in your budget, you’ll have the energy and excitement to move on to building an emergency fund, planning your debt repayments and starting to invest. If numbers aren’t your thing, there are online calculators and other free resources on Reality Millionaire’s book website that can help set realistic goals.
Ultimately, how far you go, and what you do are up to the attitude you start off with. In real life, unexpected costs are common and it is easy to lose confidence, but through persistence, patience, and above all, education and practice, you can achieve your dreams of being debt free and have a million dollars in your bank accounts and investments.
If making a million bucks were easy, we’d all be millionaires. Right? According to the statistics shared by Mike Peterson, co-founder of The American Credit Foundation and author of “Reality Millionaire: Proven Tips to Retire Rich,” most Americans are losing the money-making game. Take 100 people at age 20 and fast forward them to retirement. Only five percent of them will be financially okay. That’s not even ‘great’ or ‘independent’. Just okay.
In fact, most people lose in rounds one and two. “There are different levels to financial freedom,” says Peterson. “The first level of financial freedom is when you decide to take control of your finances. Let’s take another step, at the point that you manage your finances and income so you’re no longer in the red, but actually have a little money left over at the end of every month. Eventually we get to what I call ultimate financial freedom. I define that as, where you have enough money put away in investments that are spinning off enough of an income for you that you no longer have to go to work.”
The real key to getting started according to Peterson is that people need to make a decision to be responsible for their own finances. There are certainly many related causes for our society-wide tendency toward money blunders. Lack of financial education in schools is certainly a factor but Peterson thinks the real problem is closer to home. As an adult, there is no reason someone can’t go to a local library and tap into the wealth of information available and teach himself.
Once you commit to getting started, begin with rounds one and two below:
1. Round one is all about looking – really looking at your finances.
How much money will you need during your lifetime? Consider vacations, a child’s wedding, a house, cars and then add a million because you’d love to have a million someday and you will need something to retire on. Now consider how much you’ll earn. If you continue earning the same amount you currently do, how much will you earn over your working lifetime?
There’s a discrepancy there for most people and it’s easy to see why people who don’t pay attention are loosing the money game big time. Without conscientiously managing your money, the discrepancy will get worse, not better. Since most people don’t just buy a house with cash, they’ll actually be paying a lot more than the asking price. That goes for anything purchased with credit.
The great thing about money is that there are lots of ways to make it. Of course, there are at least as many ways to spend it. Riches, cautions Peterson, is not about how much you earn, it’s about how much you’re saving and how well that money is working for you.
2. Round two is about finding your own pot of gold with the 10-15% of your spending that doesn’t buy you very much and putting it where you need it most.
“I’ve been teaching classes in financial management for years, and I have never met anyone that couldn’t find this extra money in their current budget,” says Peterson. Start by writing down all of your monthly expenses. Most Americans can’t account for 10-15%.
To get more exact numbers, you need to actually track your spending for at least 7 days but preferably a month. Write everything, even the loose change vending machine purchases, down. Don’t change your spending habits just because you’re tracking it this time around. That will come next as you fund an emergency savings account.
The first two steps really do keep most people from winning. Once you’ve committed to controlling your financial future and you’ve found a little extra money in your budget, you’ll have the energy and excitement to move on to building an emergency fund, planning your debt repayments and starting to invest. If numbers aren’t your thing, there are online calculators and other free resources on Reality Millionaire’s book website that can help set realistic goals.
Ultimately, how far you go, and what you do are up to the attitude you start off with. In real life, unexpected costs are common and it is easy to lose confidence, but through persistence, patience, and above all, education and practice, you can achieve your dreams of being debt free and have a million dollars in your bank accounts and investments.
Aug
21
mr. bill
I’ve been learning more and more that if want to effectively lose weight i will have to start strength training. I’ve done a little research but I don’t really have enough money to invest in much equipment right now. I have some dumbells lying around, and thats about it. Are there exercises I can do using only these, plus other things like pushups that i can do to build muscle? Or will i have to bite the bullet and invest in more equipment like a weight bench + more weights?
I’ve been learning more and more that if want to effectively lose weight i will have to start strength training. I’ve done a little research but I don’t really have enough money to invest in much equipment right now. I have some dumbells lying around, and thats about it. Are there exercises I can do using only these, plus other things like pushups that i can do to build muscle? Or will i have to bite the bullet and invest in more equipment like a weight bench + more weights?
Aug
16
gani
My friends are earning a lot of money by investing in shares. I am at the verge of my retirement . I want to do something after my retirement to earn money. Can I invest some money in the share market and earn some money regularly without losing my investment. What are your tips to win in the share market.;?
My friends are earning a lot of money by investing in shares. I am at the verge of my retirement . I want to do something after my retirement to earn money. Can I invest some money in the share market and earn some money regularly without losing my investment. What are your tips to win in the share market.;?
Aug
4
Why do I always make the mistake of investing my time and energy?
Filed Under Sociology | 3 Comments
Jess
on those who really don’t want my time and energy?
on those who really don’t want my time and energy?
Intimacy and love Vs. Isolation and Dispair… the scale is heavily tipping toward the latter….
Thanks, Hawaii…. I’m still trying to get what I WANT out of my life…. 28 and still going….
Love and Intimacy Vs. Isolation and Dispair is a Psychosocial theory from Erik Erikson.