The W Wealth H Expr Ress: Fa Ast and SM Mart Ways To Infinite e Riches!

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DISCLA D AIMER A AND T TERMS OF US AGR SE REEME ENT
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TABLE OF CO T ONTEN NTS

DISCL LAIMERANDT TERMSOFUS SEAGREEMEN NT...................................... .......................................... ...................2 2 TABLE EOFCONTENTS ................ . .............................................................. .......................................... ...................3 3 INTRO ODUCTION........................ .............................................................. .......................................... ...................5 5 HO OWTHEBOOKISSTRUCTURED ... . ...................... ............................................ ...................... ..........................................7 7 CHAP PTERONE........................... .............................................................. .......................................... .................10 0 SET UPYOURMIND.................... T ...................... ............................................ ...................... ........................................10 0 TheRatRace e..................... ................................................................. .............................................................11 1 CHAP PTERTWO.......................... .............................................................. .......................................... .................14 4 KNOWTHEDIFFERENCE............... ...................... ............................................ ...................... ........................................14 4 TheDifferenc ces................. ................................................................. .............................................................15 5 CHAP PTERTHREE........................ .............................................................. .......................................... .................18 8 THINKANDACTRICH.................. ...................... ............................................ ...................... ........................................18 8 FeelRichand dBeGrateful.. ................................................................. .............................................................18 8 ControlyourExpenses....... ................................................................. .............................................................19 9 ................................................................. .............................................................21 1 BeGenerous...................... osers ............. . ................................................................. .............................................................23 3 WinnersorLo CHAP PTERFOUR......................... .............................................................. .......................................... .................24 4 ENHANCINGYOURMONEYCONSCI IOUSNESS ........ . ............................................ ...................... ........................................24 4 TAP YOURPOTENT ................ P TIALS ...................... ............................................ ...................... ........................................26 6 HumanChara acteristics...... ................................................................. .............................................................27 7 CHAP PTERFIVE........................... .............................................................. .......................................... .................28 8
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CONTROLLINGYOU FEARS.......... UR ...................... ............................................ ...................... ........................................28 8 CHAP PTERSIX............................ .............................................................. .......................................... .................33 3 WH THENEEDFO FINANCIALKN HY OR NOWLEDGE....... ............................................ ...................... ........................................33 3 CHAP PTERSEVEN........................ .............................................................. .......................................... .................40 0 FRO ONEINCOMETOANOTHER. OM ...................... ............................................ ...................... ........................................40 0 TimeforActio .................. on ................................................................. .............................................................42 2 CHAP PTEREIGHT........................ .............................................................. .......................................... .................45 5 FRO NOTTOBETOTOBE.. OM ...................... ............................................ ...................... ........................................45 5 CHAP PTERNINE......................... .............................................................. .......................................... .................49 9 FRIENDLYFINANCIA ADVICE........ AL ...................... ............................................ ...................... ........................................49 9 RelationofSe ensestoWeal lthCreation.............................................. .............................................................51 1 CHAP PTERTEN........................... .............................................................. .......................................... .................53 3 MO ONEYMAKINGVE ENTURESTOCHO OOSEFROM...... ............................................ ...................... ........................................53 3 ConnectionP Power............. ................................................................. .............................................................53 3 ThePotential lofanInterne etBusiness............................................... .............................................................54 4 RealEstate........................ ................................................................. .............................................................60 0 ................................................................. .............................................................64 4 Investing............................ mmendableMo oneymakingV Ventures.............................. .............................................................65 5 OtherRecom MA ARKETINGYOURBUSINESS........ ...................... ............................................ ...................... ........................................66 6 FindingOutW WhatWorks... ................................................................. .............................................................67 7 CHAP PTERELEVEN..................... .............................................................. .......................................... .................69 9 HO RICHISRICH? OW ?.................... ...................... ............................................ ...................... ........................................69 9
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INTR RODUC CTION

A few yea ago, I was strolli ars ing by the seacoast to get so e t ome fresh air. It was s almost six in the afternoon on a hot humid da Betwee where I am and the sunset n ay. en t t, were rows of yachts all over. I realized I was ne a yach club. Ad s ear ht dmiring the e there w yachts, I said to m , myself: Su must b fun to ow a yacht like that as my attention was ure be wn s focused at one o the yach which w strikingly more s d of hts was sophisticat than th others. I ted he have always bee fascinate by boat ever sin I was a kid thoug owning one never en ed ts nce gh occurred to me. Again I said to myself: O o n, Only the ric can affo it. ch ord really o Altho ough the th hought of g getting rich crossed my mind, I never too it seriou h ok usly at first t. But som mehow, I b began to w wonder if it really po s ossible for a nobody like me to become a milliona aire somed day. Some ething insid me told me to dig deeper, to know more about de d g m acquirin or crea ng ating wealt even if it seemed unattaina th d able. Ive h heard of true stories s about self-made millionaires Ive hea of storie about people who started fro scratch s s. ard es o om h and tur rned it into millions. S I asked myself: If others can do it, why cant I? So f n y Another re A eason (and probably the main reason) th prompt me to dig deeper d hat ted d was the thought of being an employe all my life, workin from nin to five, seemed to e a ee ng ne o get me nowhere. This led me to ask myself: W e . k Whats life going to be financia when I ally retire? followed b a remar I have to do something abo this. by rk: out That was a T almost five years ago and Im g e o glad I talke myself into doing something ed g that wil change m life, and change it did. I still dont own a yacht, a ll my d n attending to my other prioritie first. But Im well o my way to owning even a sm one. es t on mall Im I even g gladder tha youve d at decided to take a loo at this book. Its my turn to o ok o
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with what I have learned d e during thos five yea and I a confide that the se ars am ent e share w you w content you will find within this book will benefit and chan your lif as it did mine. ts nge fe I believe t that if more people could lea ways t improve their live through arn to e es h helping each other, the wo will be a better p g orld place to liv in. The time will come when ve c n those b being helpe are the ones who will be hel ed lping those who have helped th e e hem before e (recipro ocation of f favors, which is adva antageous to all conc cerned). I am sure you are aw ware that l learning is a never e ending proc cess. Lear rning starts s anywhe ere, anytim but it never stops, no ma me; atter when no matter where, no matter n, what. Even if you are learn E u ning a sub bject on w which you a familia with or y are ar you are an n expert on, you wi still cont ill tinue to lea new things about the same subject. And theres arn t e A s en amount of things to learn abo subject which we are not f out ts w an eve more enormous a familiar with, espe r ecially whe we are in the era o a fast ch en of hanging wo orld. The T same thing is tru to creat ue ting wealth It is a ne h. ever ending process of learning g g wherein new idea are intr n as roduced an it is in t nd these new ideas tha somebod like you w at dy u and me can make money. e e Some of th ideas yo will lear once an S he ou rn, nalyzed, are common sense th hinking that you ma have ov ay verlooked or have ne o ever bothered to pay much atte y ention to before. And b d there a ideas in this book that you t are n k think have never made sense b before, but they shal t ll seem to make se o ense after y have g you given them a second thought.
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How the Book is Structured
I have stru uctured this book into three sections: s o Sect tion A cov vers the ar rea which is the core or mos importan aspect of creating st nt o g wealth: our thoug : ghts. How our mind works and should w d work toward creating wealth is ds g s extremely essential. What's in our head will determine where w are he e we eaded. Our as nal at ct eate wealth h. thoughts and idea are our navigation aids tha will direc us to cre tion B emp phasizes th importa he ance of fina ancial know wledge to c create wea alth. It also o Sect covers preparatio ons neede and dif ed fferent steps to take in order to get sta e arted. This s n s tay quiring wealth, until it is achieved. section discusses how to st on the path of acq Sect tion C cov vers the t types of b businesses and inv s vestments which you can get involve in to atta financi success You will get to know when o at what stage you ed ain ial s. or u can co onsider yo ourself to be financ cially stabl without relying o somebody elses le on s financia help. al I have writ tten this bo in a sim ook mple, straightforward stress-free reading format so d, g o that pe eople like y and m with var you me ried interes and pro sts ofessions can compr rehend the e teachin with ea ngs ase. It doe esnt requir any part re ticular, spe ecial, or highly techn nical skill in n any fiel of exper ld rtise to be able to kno all the t ow things that evolve in the world of creating t g wealth. Youll be amazed t . that most o the idea are quit basic in nature. A lot will be of as te e gained once you spend (or shall I say invest) so y ome time to go over it o t. We W all hav this hidden talent to create wealth. W just nee to utiliz it and to ve t We ed ze o harness all the po otentials it holds.
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oughts tha go throu at ugh it and all the thin that su ngs urround us s Our mind and all the tho ally e ed as i s him. All he e physica can be compare to a chef who ha all the ingredients around h needs to do is c cook his sp pecialty. H How it will taste depe ends on th chefs talent. The he t e resultin dish is li wealth ready for u to enjoy ng ike us y. Allow me to be clea and specific. We a here to learn to create we A ar are o ealth within n legal m means. We are NOT h here to lea how to gamble to win in orde to create wealth. arn er Let L me als remind you that c so creating wealth takes patience dedicatio and an s e, on, n open m mind. I think its t time to get to work, s lets get rich. t so
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SECT TIONA AR RICHFO OODFO ORTHOUGH H HT
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Ch hapter One
Set Up Your Mind t
You Y are w what you w want to be. Just like y are wh you ea it also follows that you hat at, f you are what you think. If y set you mind to work for somebody a an emp e u you ur as ployee, you u will look for a job and you w be sati b will isfied work king as an employee. However if you set r, mind properly to attain financia freedom, you will find mean of gettin wealthy al ns ng y your m without the pressures and hassles of working fo someone else. t h or e It I seems t that the m mindset of many peo ople is alm most alway pre-occ ys cupied with h working as an em g mployee tha they forg or unin at get ntentionally ignore to cross the line, to see y e how the can cre ey eate real wealth. Just like a coin they nev bothere to look and to find t n, ver ed d out how it feels to be on the other side of it w o e e Are you aware that the word job fits as an acrony for jus over br e b ym st roke? And d aning does make se s ense. Having a job (a an emp as ployee) lets you earn s n rightfully, the mea over your daily expe enses. If yo lose yo job, youre broke Having a ou our e. just enough to co as ployee for somebody means y y your privile eges are limited and d job or working a an emp ed. gh come is guaranteed, it is also lim mited. You see, emp u ployers pay y confine Althoug your inc just enough so th employ hat yees dont quit. Cons sequently, employee work ha enough es ard h t ciously, if y are an employee the creat you e, tive side of just so they dont get fired. Subconsc mind is not put to wo in full capacity. Y ork You may be making somebod rich but g dy your m definite that somebody is not you. Y surren ely, s You nder contro of your finances to somebody ol y and you are at his/her merc If his/he business go down you go d cy. er n, down with i If it goes it. s
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goes up alone. Most likely, you stay as you are. T surrend ones f t u To der finances to o up, it g somebo is like having you future shaped in s ody ur somebody elses hand, not on your own. y Im I not say ying that e employers are bad. T They provide jobs and its goo Im just od. painting a picture of one of lifes realities which we hardly notice a times. If you go to g e h at f o busines you ev ss, ventually en up as a employe yourself Im just o nd an er f. opening th financia he al area of your mind f d. Cons sider this: Palms fac cing up is receiving, kind of sim milar to be egging. Pa alms facing g down i giving. Employees receive. Employers give. H is How do yo want yo palms ou our s position to be? n
The Ra Race at The T fact th youre r hat reading this book con nfirms that you have crossed th line and t he d have t taken interest to cr reate wea alth, an al ll-importan factor to financia security nt al y. Congra atulate you urself because your initiative j r just introdu uced you t a world out of the to e rat rac ce. What is the rat race? W e ? Eve morning you get up and p ery g, t prepare yourself to g to work - shower, breakfast go t, get dre essed, trav by bus/ vel /train or drive your c car, work f from nine to five, ge home to et o your fa amily and h have dinne watch te er, elevision o read the papers, then off to bed till the or e e next mo orning. You get tw to three weeks p Y wo e paid vacati ion/sick lea each year and occasiona ave al overtim work. Y me You get pa by your employer for your services e aid every payd day. If you u
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ke b e, or ay. n, dont lik your job anymore you find another employer fo better pa Year in year out, its the same rou utine. You work for somebody else, no for yours y ot self. You focus your f y er. the ce. efforts in making somebody else riche That is t rat rac Let L me as you: If you have ever bee an employee or if you are still one, sk f e en e honestly, do you like this feeling? ll hat e, orld is con nfined and limited to o I believe youl agree th as an employee your wo cific inform mation only You ha y. ardly have time for other activ vities. You u certain and spec only solutio is to go outside th confine on his ement, into the open, o cannot diversify. And the o and venture into a wider field. As A an em mployee, yo hardly learn any ou ything new This lim w. mits your knowledge e potentia virtually crippling your mind. al, y . Another disadvantag you ge for bein an emp A ge et ng ployee is that your income is s limited. An avera employ earnin an aver . age yee ng rage salary if you co y, ompute, co ould hardly y put aside a certa amount of money for saving for his/h future use. Even an above ain t y gs her n e ee ould put as side some savings could hard have e e dly enough for average employe who co ss pute the sa avings of b below aver rage emplo oyees, they y retirement use. It is pointles to comp dont get de ebt-ridden. . are lucky if they d All A too ofte people are trapp en, e ped in this race that they never bothere to know s t ed w where they are h headed. They only n notice it at times wh t hen they r run short of cash for o ected expe enses or w when they realize wh will hap hat ppen to the when they reach em h unexpe retirement age. A still the forget ab And ey bout it and do nothing to improv their live g ve es. You must realize the need to get out of the rat race as e Y e early as po ossible. To o
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e change you way of t ur thinking - f from thoug ghts of wor rking as an n achieve this, you need to c employ for som yee meone else to thoughts of bein in contro of your o e, ng ol own time and money a y. This do oesnt mea you hav to quit y an ve your day jo right aw ob way. You could spend your free d e time lea arning and actually im d mplementing moneymaking ac ctivities while still wor rking as an n employ yee. Once youre fin nancially se ecured and have en nough kno owledge on acquiring n g wealth, thats the time to ge out of the rat race and start enjoying y , et e your life. As A you w see, creating we will ealth is m making mo ore money in lesse time, in y er n comparison to what you ar present doing. It is like a graph with the horiz re tly zontal axis s represe enting time and the vertical axis representing money. The m e v more steep the graph, the better it is. Once you are out of the rat r O f race, you continue to work th time yo work for his ou yourself and not for other people. W When you w work for y yourself, it does not mean that ish; youre just being smart. No g obodys go oing to loo after you financia ok ur al youre being selfi y ourself. security except yo The T bottom line is th It is all right to be an emplo m his: e oyee, but dont stay as one for long. Im talking f m from experience. Bett do som ter mething abo it now. out
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Ch hapter Two
Know The Dif w fference
For F the pu urpose of simplicity, let us re , efer emplo oyers, entr repreneurs business s, s owners and investors as pe s, eople in the wealth e express. Wha are the d at differences in status and in thin s nking betwe a pers who is trapped in een son n the rat race and a person who is in t wealth express? t d the h ? Let L us lay t cards on the tabl and examine them the o le m. If I you look at the pay ycheck of a person in the rat ra n ace, youll find: Gros Earning Minus D ss gs Deductions (Taxes, S s SSS, etc.) = Net Pay (Money left for you y l u to spen / save) nd The earnings o a person in the we of n ealth expre ess look like this: Gros Earning Minus E ss gs Expenses / Savings = Net Earni ings subjec to taxes ct s Notic the diffe ce erence? Its earn, pa tax, spe for an employee On the o ay end e. other hand, its ear spend, pay tax for an em rn, mployer, an entrepre eneur, bus siness owner, or an n investo There is a profoun differenc or. s nd ce. If I you are a employ an yee, you wo ould pity yo ourself, tho ough there is nothing much you e g u can do about it b because th hats the way the sys stem works You don have the power to s. nt e o e em o esides, se elf-pity is a crime to o change the syste so you have no control over it. Be oneself So inste f. ead of fee eling sorry y for yourself, you must get out of the trap, be e
liberate from b ed being poor or middle class, and start doing so r ome action steps to n o becoming financially indepe endent.
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To T change lanes, ju like driv e ust ving a car you sign your in r, nal ntention. You send a Y signal t your bra so that your mindset will sta to functi on thou to ain art ion ughts leaving the rat race to thoughts entering the wealth express. o h This issue about cha T anging lane which in es ncludes the transition period is covered in e n n the nex section o this boo In the meantime, let us conc xt of ok. m centrate on how a po person oor n thinks c compared to the way a rich pe y erson thinks Knowing the differ s. g rences helps to open n up your perceptio to the way your m on w mind work This als prepare or cond ks. so es ditions your o in-depth un nderstanding of finan ncial issues s. mind to have an i
The Diff ferences The poor work for money. The rich make mo T oney work for them Literally k m. y translat ted, the po work to gain mo oor oney in exc change for their serv r vices, to pay for bills p s and all the other e expenses. The rich u money to earn m use y money by in nvesting an nd/or going g into bus siness. They employ the servic of othe people s they do not necessarily have y ces er so e to be p physically present to maintain their busin o ness. This gives the more fr s em ree time to o engage in other m e moneymak king ventur res. The T poor think that th love of money is t root of all evil tha is why th choose he the at hey e to rema poor. T rich th ain The hink that th lack of money is the root o all evil, t he of that is why y they str rive to crea wealth. ate . Say S for ex xample, tw persons are lookin at a ya wo s ng acht, admir ring it , jus like what st happen to me. The pers who ch ned . son hooses to remain po would s oor say: I can afford to nt o
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yacht. The person who choos to find ways to create wealth would say: What e w ses c s buy a y can I d to own a yacht? The thinki proces of the p do ing ss poor on how to make money is e s automa atically shu down. The thinking process of the rich works to determine ways for ut T o them to make mo o oney, so that they can afford to buy whate n ever they d desire. The T poor a middle class buy their per and e rsonal things like clo othing and household d furnishing ready made. The rich buy them mad e de-to-order Items tha are mad r. at de-to-order are usu ually more expensiv because they are unique or one-of-ae ve e r -kind, givin the rich ng h more o options, cho oices, and advantage es. The T poor w would advi their ch ice hildren to s study hard so that th children can find a he good c company t work fo when schooling is finished. The rich would ad to or h dvice their children to study hard so t n that their c children ca build a good com an mpany or fi ind a good d company to buy. The excus of the p T se poor why they are po is bec oor cause they are suppo orting their families so expe s, enses are h high. The rich are m motivated to be wealt becaus they are o thy se e suppor rting their fa amilies, str riving to ea more. arn A lot of pe eople cring when it comes to taking ris about m ge t o sk money esp pecially the e poor. T rich wil find ways to control and mana this ris The ll s age sk. On O the iss of reac sue ching retire ement age the poor depend o a comp e, r on pany or the e government takin care of t ng their needs or pensio The rich prefer fin s on. h nancial self f-reliance. The poor can affor to sav a few dollars. T T rd ve The rich c can afford to make d e investm ments to increase the wealth. eir The T poor w would com mpose impressive res sumes to f find good jobs. The rich would d
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up namic business plans to create jobs for ot s thers. come u with dyn The T poor w would say that mone does no interest them. The rich would say that ey ot e money is power. We W can se that the are lot of differ ee ere ts rences in thinking at etween the e ttitudes be poor an the rich Often tim nd h. mes, the d directions o thinking are oppos each o of site other. How w the min works determines the person. It is unfo nd ortunate th hough that more peop choose ple e the eas way to think, which is the w the po think; h sier o way oor hence the higher per rcentage of people are in the poor and middle cla e ass. But th here is alw ways the ch hance to im mprove, for as long as the mind is willin g ng. Let L me em mphasize though th a willin mind to improve oneself, to elevate hat ng o e e oneself from bein poor to being wealthy, is not enough and will not materialize if it is not f ng b coupled with action, the final and most important determinant to tur a poor person into d rn p o a rich o one. Not just any action but inte elligent, decisive, fearless action. Make it happen. M
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Chapter T Three
Thin And A Rich nk Act
the us , ng or On t previou chapter, we have compared the thinkin of a poo person to that of a rich one. Initially, we shall explore a few ways on how the rich ac in accord , s ct dance with h d can s rage and g guide us in doing the e their thinking and how we c apply these ways to encour same. ays n at s oney as yo desire b knowing ou by g Alwa keep in mind tha you can attract as much mo that it is all in the mind. It is what you choose t think, an act upo that pro e u to nd on, oduces the e money you want. What you think will b will be. be, .
Feel Rich and Be Grate eful What I am about to teach yo is a sim W m o ou mple yet very power rful way of attracting f g wealth and prosp perity in you life. ur First, imag F gine what life would b like if y are rich Dont just see it. Feel it as if be you h. F youre a already ex xperiencing the luxuri and life g ies estyle of the rich. e Do y see yo you ourself driv ving your d dream car? What mo ? odel and c color is it? Touch the e seat an feel its soft textu nd s ure. Open the car radio and listen to your favorite music n c. Experie ence the jo of driving it toward your favorite place oy ds e. May you could visualiz a house How ma rooms does it ha ybe ze e. any ave? Take a relaxing e g
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n h ell d coming ou from the large kitc ut e chen. Play y soak in the bath tub. Sme the food aroma c sports in your ow private g wn gym. e eve ady The important thing here is to belie that you are alrea rich. w hat oing this ex xercise, you are unlea ashing the powers of e Now doesnt th feel good? By do your su ubconsciou and dire us ecting it to g give you w what youre dreaming of. e g But it doesnt end there. To make this even more effe ective, brea athe slowly while stil y ll hanging on to this wonderfu feeling o being ric and say a small th g s ul of ch, y hanks to G God, or to a Higher Power. By b being grate eful, you a comma are anding the Powers o the Univ of verse to wo in your ork favor. You are co Y onfirming th you are graciously accepting your bles hat e ssings. Try i out. Belie and feel that you are alread wealthy and be th it eve u dy y, hankful for it. You wil r ll be asto ounded by the results s.
Control you Expense C ur es When I wa still youn I used to hear th expression: Live w W as ng, he within your means. I r think n nowadays, we need to correct this expr t ression by changing within to below. y g t These days, if we work for somebod or for a corporatio we nee to set aside some r dy on, ed a e s e ver h t y savings which we can use for a rainy day. There is nev enough savings, that is why we som metimes fin a second job. An this is t nd nd the reason why we want to im n mprove our lives fin nancially, b getting o the rat race and achieving financial f by off freedom. Sometimes we have the unco S s, e ontrollable habit of b buying thin we don actually ngs nt y need, e especially when item are on sale. W stock up on thing that are on sale ms n We gs e
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g are hought, it seems we a but on second th are, n hought, we e thinking that we a saving. At first th are ac ctually losing. Foods stuffs get spoiled. C Clothes go out of fashion. A o Appliances s warranties expire even befo they ar used. Sometimes, they beco e ore re , ome defec ctive due to o prolong ged storag And ne models are intro ge. ew s oduced wh hich makes what you have on s n hand, obsolete or phased o This m o r out. might proba ably be the reason wh they are on sale. hy e If you notice, mos electronic applianc are ex n st ces xpensive th first time they are introduced he e d and the become cheaper in time. ey e We stock up o things thinking tha a similar opportunity might n come our way the on at r not o e next tim I hate to say thi but prob me. is bably some products are exce s essively pr roduced on n purpose, to be p up on sale if no completely sold w put ot while regula priced To some arly d. e heaper to sell at cost or minimu profit th to kee under st s t um han ep torage, not producers, its ch ation dates This is a s. also one w to prom way mote a product. You see, when n to mention expira at n hey always have the s e people know tha a certain product sometimes goes on sale, th d. ts ct e product on mind Its free advertisement at it best. The produc makers dont lose On ntrary, they make money. y money anyway. O the con All A too ofte even th rich peo en, he ople fall pre to this kind of prom ey motion. The poor and e d middle class wou say: I might as well spend my savings on the items since little uld ese e s going to ma me rich anyway. ake h savings are not g And A you know what happens to your hou if you keep on st t use tocking up You turn p? n your ho ouse into a warehou use. There will be c e clutter ever rywhere, e especially when your house isnt big en nough. You buy th Y hings on sale, only if you int y tend to se them for a profit and not for ell r a
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wn consumptio Keeping a reason on. nable quan ntity is justifiable. your ow future c Be B prudent. This is o habit th we nee to impro or corre one hat ed ove ect. If I you are making en nough or m more than enough, k keep in mi that it is not how ind w much y make that can make you r you m rich. It is h how much you spend and how much you d w u keep. Some of u have the habit of b S us e buying luxuries the m moment we have the money or e e credit li for it. M ine Most rich pe eople, in spite of bein rich, buy luxuries last. ng With W the m money you keep, books are so u ome of the best inve e estments. They keep p you skillful. They open up new horiz y zons which can lead to creatin wealth. The same h ng e thing is true wit semina s th ars, tapes, and othe media related to acquiring financia er o g al knowle edge.
Be Generous Many peop think th rich peo M ple hat ople are se elfish, thats why they have lots of money s y at hand This may be true in some ca d. ases; howe ever, there are a lot m e more indiv viduals who o are wea althy because they k know how t give. to When you give som u mething fro your he om eart withou expectin anything in return, ut ng g ce our eed ounce" bac to you in ck n you release a powerful forc that will trigger yo good de to "bo ng, metimes un nusual way ys. amazin and som Whenever possible, be genero in givin to others You will notice tha what you W ous ng s. at u receive or the r e, return, will be more than what you giv As humans, we have the e ve. e e tendency to reci iprocate w what we re eceive. Bu dont gi ut ive for the sake of expecting e g
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hing in retu Give fr urn. reely from y your heart, and the r rewards wo ould be gre eater. someth The act of givin can sum ng mmon the spirit of joy to come into your h y heart. How would you u hen mething to your less fortunate n neighbors? Let me te you that ? ell feel wh you've given som nothing could bri g ighten up a day mo than he ore earing them express their mos heartfelt s st gratitud and see de eing their s smiles exte from ea to ear. end ar
Givin is also a healthy h ng habit. It could prolong your life by instilling within yo an inner g ou sense o peace a accomplishment. of and Wha you give doesnt ne at ecessarily have to be somethin material. It can als be time, e ng so effort, t talent, serv vice, or eve an affec en ctionate fee eling. Just like all things in life giving ha its limit e, as tations. Be eing too ge enerous ca have its an s toll. Yo kindness might b taken advantage of and people mig abuse your good our be a e p ght d intentio ons. Beware of indiv viduals who are continuously seeking yo aid. It's better to s our o teach them how t solve the problem than to always attend to their needs. to eir ms one As o saying goes ... "Give them so ome fish a and you'll f feed them for a day Teach th y. hem how to fish and t d you'll fe them f a lifetim eed for me." Last here's w tly, what I cons sider the m most import tant rule ab bout giving. g Ke eep your
good d deeds to yourself. Don't ann nounce to the whol world t le that you've donated d $100,000 to you favorite charity o that yo ur e or ou've helped save a child from a lifeening disea ase. threate If you really de esire to give do it sec e, cretly and in private.
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me mous" rath than th her heir own n names wh hen they've e Som people would write "anonym made a contribut tion. The u universe sm miles upon these ind n dividuals, a they will get their and w just rew wards in du time. ue Cons sider this: If you are on the giving end, doesnt it mean that you are in a better e t position than the recipient? Doesnt it compleme your ch n ent haracter?
Winners or Losers It I is said that winne are no afraid to lose, be ers ot o ecause fail lure is a p part of the e process of succes People who are a s ss. e afraid to fail, lose suc ccess. Like a coin or a chip look at b L n p, both sides of the pos ssible effec of som cts mething you u want to do. Say y want to buy a house or a car. It may seem to lo like you buying o you o ook ure g an ass set. Take a look als at the other side it might be a liab so e, bility becau use of the e addition expenses it would incur. W nal Weigh your options. Think rich and put yo thinking into actio T our g on.
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Ch hapter Four
Enhan ncing Your Money Consc y ciousness s
The next p T paragraphs will enhance furth your m her money consciousness. In more e ways th one, these moneymaking thoughts m sound like prov han may d verbs, but I find them m very en ncouraging hence I w g, want to sha them w you. are with 1. Change your thin e nking habit from earning daily (in small am mounts) to earning by y transac ctions or de eals (in big amounts). Turn on your mone g ey-conscio mind to ous o attract more money into y your life. Y You will le earn more of this in the nex e n xt section of this bo ns ook. 2. 2 No one else will determine your futu except yourself. Either you get up or e e ure u sink do own from w where you are now. T This can be determin on how you mold e ned w d your th houghts. To be weak or strong, rich or po o k oor, you d decide your own fate. The eff fect of your thoughts eventually affect you life. r y ur 3. 3 If your broke, th doesn mean yo re hat t oure poor. You may be rich bu you may ut y be brok You se being broke is sh ke. ee, b hort-lived . Being po is long term. You oor u are bro oke only f a certa period of time, but being poor with for ain hout doing g anythin to allevia your co ng ate ondition in life makes it perman s nent. 4. 4 Learn t decide intelligently It is a must in mon to y. neymaking Practice this trait in g. n small w ways and work your way up g r gradually until you h have the c courage to o apply it in big way t ys. 5. 5 Take fa ailure as a chance to get smart and stro o ter onger, by le earning fro it. Dont om
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ure you. Get in nspired by it and eve entually, yo will turn up to be a ou let failu defeat y winner. . 6. 6 Someti imes, we w want other to chang their att rs ge titudes but we have no contro t ol over them. Its ea asier to cha ange onese if we ha self-co elf, ave ontrol. 7. 7 Having more mo g oney does not nece s essarily me ean more wealth. S Sometimes, more m money sink us deeper to deb Conside lottery w ks bt. er winners w who end up p where they starte after some time be ed ecause of their comp pulsive spe ending and d y rly e ney. inability to proper manage their mon 8. Learn t master the power of money by having control o to r y over it. On money nce y has con ntrol over y you, you become a s slave to it. 9. 9 Be crea ative and o open to ne ideas. S ew Sometimes we are so used to doing what s, o d the ma ajority are d doing that we comple etely close our minds to new id e s deas. Take e for inst tance on a hot summ day, y will drink someth mer you hing cold to cool you u down. Y would think o drinking something hot beca You dnt of g ause it will make you u feel mo hot and besides, a cold dri on a hot summer day is the common ore d ink n thing p people do. But did you know that drin . w nking some ething hot on a hot t summe day help to make you persp and ta the hea out of yo system er ps e pire ake at our m thus making you feel cool, although t this is not the standa that m ard most people e follow? Just wha does th have to do with creating wealth? I want to ? at his g o emphasize here that follow wing set rules and procedures, and not deviating g what the m majority are doing, discourages creativity If you n e s y. need to be e from w differen from the majority fo the sake of financial success so be it. nt e or e s,
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Tap Your Potentials
We W all hav tremendous pote ve entials and talents lik courage and brilliance. We d ke e must le earn to tap into the em, to put them to good use. Like it or not, we also have . e negativ common traits. W all hav some d ve We ve degree of self-doubt although at varying g levels. Again, it all depends on us, wh s hich side of us we will allow to p f prevail. In I the world of mone being sm is not enough. Y ey, mart t Youve got to be bold or daring. t d You ha to actualize what is in your mind. ave It I is under rstandable that we fe appreh eel hensive wh it comes to chan hen nge. Some e are eve afraid o change but we mustnt be. We must consider c en of change, ev ven at bad d times, a an oppo as ortunity to improve our lives. T o Turn to you creative mind so as not to be ur e swayed by the tid of depre d de ession. To be financially secur you nee to be cr o re, ed reative and d to take calculated risks. d Great oppo G ortunities a visible to the min not to th eyes. L are nd, he Learn to rec cognize an n opportu unity. Once you do, within the right time and availa e able financ ces, it can make you u rich. Always rem A member th your m hat mind is the single most powerf tool or asset you e rful u posses to gain f ss financial se ecurity. Just like our body that takes nut r t trients from food and m d water, our mind m must be co ontinually e energized w creativ ideas and financia thoughts with ve al s to create wealth. Most of us work for the purpose of making money. More than this, we m M e must work to learn n.
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Human Cha H aracteristic cs Life L is som metimes fu unny. There are man human characteris e ny stics that unless you u u take a closer loo into them you wo ok m, ouldnt noti how pe ice eculiar or different th are, at hey n d T xample the following: e : least on the way it is viewed or said. Take for ex 1. W all hat to lose, while mos of us ar afraid to lose. The seem to We te st re o ey o impart the same meaning b theres a big diffe but s erence betw ween the two. Hating t g es ction. Bein afraid to lose mak us dec ng o kes cide not to o to lose challenge us to ac act. 2. 2 A person may risk t succeed while an to d, nother one may not like to risk e k losing. Again, the eres a big difference The form has th persons thoughts g e. mer he s concen ntrated on succeedin not los ng, sing. The latter has a persons thoughts s concen ntrated on h hoping he/ /she does not lose an forgets about succ nd ceeding. 3. 3 Most peop are so afraid to lose mone that the lose. Th refrain ple ey ey hey n from acting on a opportu an unity to avoid losing that they did not re ealize they y t e cting on it. have already lost a lot more for not ac 4. 4 Simple laz ziness is d doing noth hing and w wasting aw way ones time. The e ype iness is ke eeping one eself busy with some ething not worthwhile e other ty of lazi and us sing it as a excuse in doing s an something which sho ould have been more b e worthw while like go oing into m moneymaking venture es.
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Ch hapter Five
Contro olling Yo Fears our s
What is the first impr W e ression we have upon hearing t word f n the fear? Mos likely, we st e think of it as a wo that des f ord scribes a feeling we all do not l f like to expe erience. And rightly it is, for e even the di ictionary de escribes it mostly as a word filled with ne egative emo otions. In I this cha apter, we shall make an in-dept analysis of what fe is reall all about th s ear ly when it comes to creating w t wealth; its g good side and its bad side. d Different p D people hav different kinds of fear. Fear of speak ve r king in pub blic, fear of heights fear of enclosed places, fear of being a s, alone, fear of dark pla aces, fear of being in n a docto ors or de ental office fear of spiders a e, and other insects - we can enumerate e countle more. ess Fear is the big r ggest dete errent to fi inancial su uccess. Su uppress fe and yo moneyear our making mind tur g rns into a gold min A wor of caut ne. rd tion: Being wealthy does not g y necess sarily solve the prob e blem of f fear. Some etimes, it even agg gravates the matter r, becaus this tim it is fear of losin the mo se me, ng oney that bothers th wealthy Learn to he y. o manage and cont fear. trol Man people w ny who have money pr roblems fe losing money so much tha they are ear o at e actually aggravat y ting their problems by concentr y rating too m much on th hem. They cant think k of any solution to their dilem o mmas beca ause their thoughts a pre-occ are cupied with the terror h of payin insurmo ng ountable bills. Instea of worry b ad ying about their problem, they should shif s ft their focus to a di ifferent per rspective, e even for ju a few m ust minutes. Th should take some hey e
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o d brains so they can b more ca be apable of finding the e time to relax and re-energize their b right so olution. Th should set their problems aside for even just a few min hey d nutes each h day, in order to allow their minds to co m ome up wit possible solutions. th e Fear also has its go F ood side. F Fear preve ents us fro getting hurt, phys om sically and d emotionally. That little fear that is inh t r herent in u is actua good f us. It p us ally for prevents us s aggressive It makes us think before w act. Action after thinking is e. s k we s from being too a ely han definite better th action without thinking. This little f T fear is similar to fats in our bod Too mu fat in o body is not good dy. uch our d for our health. A little fat helps to ke h eep us war in cold weather. In the mo rm ovies, there e wont be any good guys if it werent fo the bad g b t or guys. We kept emph hasizing little in fea and we must kee it that w becau once it ar e ep way use starts to get big, w o were in real trouble. So S how do we contr fear fro getting big withou totally lo o rol om ut osing it? How do we H e keep fe within manageab and usa ear ble able level so we hav control over it inst ve tead of the e other w around way d? To T an ave erage emp ployee, fe of losing a job makes him/her get up every ear t y morning to go to w work. This is fear controlling th person. This is the reason m s he e most people e ce. stay in the rat rac To T the poo and midd class, the fear of losing mo or dle t oney makes them crin to take s nge e risks, e even calcu ulated risks which the rich usually take. S s e Sometimes they ne s, ever realize e that the already lost the m ey moment the backed o from an opportun ey out nity. And if this keeps s on goin theyll n ng, never get r rich.
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r s nds to the point that e Fear leads to poverty. It prevents financial creativity in our min ignoran sets in When cr nce n. reativity (be it financi or not) does not o e ial occupy the mind, the e e mind is in a state of emptin s e ness. It do oesnt rema empty for long, s ignoran sets in. ain so nce And wh ignora hen ance sets in bigger p n, problems s start to set in as well because o mind is our s in disar rray. Unconsciously, we becom more gr me reedy. Let L us exp plore greed further. I t d think you w agree t will that a high degree of greed can f n lead int trouble. Too much greed clo to h ouds our th houghts bu a little, ju a little greed may ut ust y do us g good. A litt greed c overco tle can ome the ob bstacles that draw us away from financia s al security A little g y. greed can cure lazin n ness. With hout that little greed, our desire to have e someth hing better and to im r mprove our lives financially cou be bey r uld yond reach Progress h. s will har rdly be atta ained. If I you will n notice, mo if not all of the neg ost l gative trait and emo ts otions in hu umans can n lead us into troub and fina s ble ancial distr ress, if thei level is h ir higher than our level of thinking. o If we k keep them from dom minating ou mind, w are in g ur we good hand And to make this ds. s possible, we nee to gather enough courage or fortitud within u which w be the ed h de us, will e or ne action towa ards financ security. Practic in small ways and cial ce d basis o backbon of our a gradua improve to bigger activities. ally e r To T suppres the fear of losing money, the exciteme of winn ss r e ent ning must prevail. We p e must h have the b burning de esire and t the passio to make it happe To brin up that on en. ng burning desire, w must thi of the g g we ink great bene efits that m money will bring. Wh will I do hat o or wha can I do when I be at ecome rich Start b recalling and mak h? by g king a pictu in your ure mind of the things you would like to d if you ha the mo f s do ave oney for it. Concentr . rate first on n
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od g and your lo oved ones, perhaps helping a brother or the goo things it will bring to you a sister finish colleg going o a cruise in the Ca ge, on e arribean if you love t travel (tr to raveling is s giving a m motorized w wheel chair for a poo crippled uncle. Ac of care or d cts e educational), or g oncern, not only for oneself and family, b to others as well, ignites pa t o d but , assion and d and co desire. It puts yo creative mind to work. Sub our e bconscious you ha suppre sly, ave essed fear r. ur s on and d step plans. Put you thoughts into actio by making big but realistic a detailed step-by-s
Remember, that all t R these excitements m must be within the to olerable lim of your mits thoughts, so you reasona ur able and c creative thi inking could have fu command of your ull actions s.
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SEC CTION B Impor N rtance of Fin e nancia al Kno owledg and Prep ge d paratio to Creat ons o ting Wealth W
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Ch hapter Six
Why The Need For Fina ancial Kn nowledg ge
Let L us touc on the i ch issue of ou basic ed ur ducational institutions the scho s, ools, where e we learn about t the facts o life. Wha are the subjects c of at covered in school? Language, n matics, scie ence, histo social studies, re ory, eligion, among others are all im s mportant for mathem us to study to ble ourselv well w society Even in the collegiate level, depending end ves with y. g on what course one cho ooses to t take, lesso ons are concentrate on the theories, c ed e les rdly in cons sonance w the rea world. with al principl and/or basics which are har gineer. He took up a I will site a true-to-lif example My fathe is an ele fe e. er ectrical eng e Bachelor of Scie ence majo in Elec or ctrical Eng gineering c course in one of th leading he g sities in our country. A After gradu uating and passing th board e d he exams, he decided to o univers look for a job in line with his chosen p r profession. He found a job in s d sales of ma achines for the wo ood industr Naturally, the ma ry. achines the sell are made up in part of electrica ey e p o al components. Alth hough som of the electrical co me omponents were fam s miliar to him based on m n what he learned from the university many m h y, major comp ponents w were new t him. He to e never e encountere them before in sc ed chool so h was at a lost as t what the were or he to ey what th were in hey ntended for. In short, what you will learn o have lea or arned in sc chool might not nec cessarily be what you will find in the real w u n world. e When it comes to c W creating w wealth, ther is not a single course in school that re s teaches this subj s ject (or very minimal if ever there are). Y will lea to crea wealth, l You arn ate out of school. s
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So, S what o forefath our hers told us before: G to scho study h s Go ool, hard, and f find a good d job is still sound advice but not go ood enoug The fu gh. uture does not look too bright s ollow this a advice. Wh you ne to do is to learn whats go hat eed oing on out anymore if you fo where reality is. there, w Learn to g L gain more knowledg Learn to be upd ge. dated and leave to experience e e what is antiquate Learnin is to kee pace with the late technol s ed. ng ep est logy and in nformation. Since l learning or knowledg is pow ge wer, it follow that information is power. And if we ws e have power on h p hand, we have acce to wea ess alth. So it makes se ense that information n nowada is vital to creating wealth. T more u ays The updated yo are, the better you chances ou e ur s of making more m money.
The Learning Process How do we learn new things? Reading b H e books, atte ending sem minars, and talking to d o people more kno owledgeab on the subject ar some o the way We als learn by ble re of ys. so y g s, bies learnin to walk It is like roller sk ng k. e kating whe we get ere making mistakes like bab bruises every tim we fall. The mess s me sage is: D Dont let mi istakes sto you from learning. op m Learn f from those mistakes and let the encoura you to learn mor em age o re. Always be in mind that educ A ear d cation in sc chool is on the fun nly ndamental foundation n of gen neral know wledge. Ou utside sch hool , we must gath as muc skills as possible her ch a e especia those p ally pertaining to creating wealth. g I firmly believe that o ones choic of endea ce avor must be anchor on love Because red e. e when y love w you what you do you will enjoy and take good care of i not to m o, d it, mention the e
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s r With you e benefits it will bring to your health. W this in mind and in heart, y are following the dream of your life and you can use t e this princip in the c ple choice of y your busine to gain ess n . wealth. Loving is o L one thing. Knowing is another Know yo busine r. our ess. Know how to go o about it It is impe t. erative that you acqu financia knowled to gain wealth. t uire al dge Toda informa ay, ation is we ealth. Get to know w t what is goin on arou you. You will find ng und d opportu unities to g rich fro information that is current. Time can be of th essence get om n he e depend ding on the subject of the bus e siness. Kno owledge o the bus on siness is vital; that is s why le earning is a non-sto process. You ne op eed not n necessarily be famil y liar with a particular busines but you must learn to know the busin ss, u w ness before you get involved in e n it. People wh have ac P ho ctual exper riences on a subject are the on you ca talk to in nes an n gathering informa ation. Do n listen t hearsay or to thos who ne not to y se either know nor have w e any ex xperience o the sub on bject. Know wing is an asset; no knowing is a liability. That is ot s why, information is wealth. hange info ormation re egarding financial ma atters with your colle eagues as frequently y Exch as possible. This is one wa to acqu s ay uire update news. O topics that are not clear or ed On n r ask ons etend you know whe you don and be en nt) e familiar to you, a questio (rather than pre genero ous to sha what y are you know when ask ked. Oppo ortunities a somet are times born n spontaneously in discussion that are beneficial to either o both par ns e l or rties. The T risk fa actor is alw ways there even if yo know th busines This is inherent in ou he ss. n every ty of bus ype siness. But risk can b manage and kep to a mini t be ed pt imum if yo have the ou e
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e. proper knowledge Gathering informatio may be time consuming but time well spent. Som G on metimes, it takes m more time t gather information than the business itself. Keep in mind though that to n p timing (when to a could b importa in the b ( act) be ant business yo are inte ou erested in. How much h you kno is differ ow rent from h how fast yo know. R ou Remember the old sa r aying: The early bird e d catches the worm The fir or earlie to know gets the opportunity. If you k s m? rst est w know of an n opportu unity that is not yet i the new its good news. S in ws, Stay focuse Keep a clear and ed. d keen m mind. Just like the ad dvice of a weather s station: Kn now before you go. The same e e thing is true in bu s usiness: Know before you go (i e into action). When in bu W usiness, yo must le ou earn to man nage the flow of mon ney, your people, and p d your sy ystem. Get to know w t where the money yo invest should be a any part ou at ticular time e so that you dont get cash strapped in the midd of your transactio t t i dle ons. Make sure your e money flows smo oothly to w where it should be. L Learn to manage you people. They work ur k for you, so take g good care o them an they will take good care of yo business. of nd d our Systematiz your wo flow. Th will cut wasted tim energy and mon as well. S ze ork his me, y, ney What you save is additional profit. y s l Keep in mind t leave so p to ome time fo your out or t-of-busine activitie too, like family and ess es d social a affairs. Lik giving credit to wh ke c here credit is due, g t give time to where tim is due. o me Think of ways to do more i less time This will increase your profit margin making you o in e. m u more competitive e. Most peop find dif M ple fficulty in m marketing or selling products and / or s services. It takes time and p patience for your pros spective clients to ge acquain et nted with what youre w e
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g. ost rst n is ight people e offering Their mo likely fir reaction is to reject it. This i normal. With the ri negotia ating and h handling th marketin aspects of your bu he ng s usiness, yo can sur ou rmount this s difficult and even ty ntually com up with positive re me esults. Communic C cation skill is very important. It is your ey yes, ears, a mouth rolled into and o one. It is a friend spy to k dly keep you u updated an more kn nd nowledgea able. Witho it, youl out ll ping in the dark. be grop Here are a H additional h helpful tips to gain fin nancial kno owledge: 1. When h hiring a pe erson to wo for you hire one who is mo knowle ork u, ore edgeable in n the pos sition you intend to hire him/her for. This way, you w have le worry if will ess he/she is able to perform th job. You get to learn from th person, and youll he u he , more time to attend to other moneymaking ventu ures. Dont think the e have m person might be a threat to your bus o siness, as long as y pay him you m/her well. wise, he/she need not work for y in the first place. t you Otherw 2. 2 Change especially those that invo es, e olve barga ains, can s spell profit Take for t. example in a su upermarke where t et there is a sale. P Peoples most likely m y uy ock up. It is normal reaction but reaction is to bu and sto peculiar when n
ed. stock mark when t ket, there is a price crash people t h, tend to shy y analyze In the s away. This is contrary to w what happens in the supermar e rket. Why? Perhaps, ? we will never kno On the other han when prices in a supermar ow. e nd, p rket go up, y. n k when prices go up, p s people star rt people shy away Again, in the stock market, w ouldnt be the case. t buying which sho 3. 3 Part (o shall I say a big portion of) financi knowle or g ial edge is kn nowing the e
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nce between an ass and a liability. A set Actually, an asset or a liability n r y differen depend on the p ds person looking at the thing. Wh you think is an as e hat sset, could d be a lia ability to another per a rson. As m mentioned before, an nything you own that earns is an asset otherwise it is a lia s t; e, ability. 4. 4 Oftentim mes, we s stick to the conventio e onal way o doing b of business: This is the e way it is done he ere. For all we know the conv w, ventional w might not be the way e best w way. Look at it anot ther way, the uncon nventional way. It could save c e money, and mone saved is money m ey s made. 5. 5 High emotions (f fear included) can so ometimes suppress financial knowledge. k Do not let your fin nancial ability submit to your em t motions. O Overcoming emotions g s of ning proce ess. Simila arly, making financial decisions s is, per se, part o the learn t aining on fi inances is disastrous s. without proper tra Gain more fina n ancial abili is simply having m ity more optio for opp ons portunities that come e your w way. In the same m manner, a higher level of kn nowledge can help you spot opportu unities othe people dont see. What you cant see with your eyes, you might see er e with yo mind. our Money com and g M mes goes. But unlike mo oney (altho ough this is what we ere aiming g for), fin nancial kno owledge s stays. The nourishm ment it nee eds to stay keen is to keep it y accurat and up-t te to-date. If I you feel like your being pu re ushed around, stay smart, exe ercise self f-discipline, and ke update Be aler and look out for d eep ed. rt k double stan ndard info ormation (information n that req quires double checking). It is be etter to rec confirm tha be sorry later. an y
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The T basics of financi knowled should have bee taught in school; but it hardly s ial dge d en n b y did, and it looks like it hardly will. This explains why the poor and m s p middle class comprise s e jority of the populace with its gap from the rich ever widening. e e r the maj If I a person winds up with a lot of cash without financial a u l h ability, this person is s s bound to find his s/her mone gone so ey oon. Wev heard of athletes who earne millions ve ed s e ie ho ortunes onl to grow old broke. ly during their prime and movi stars wh amassed untold fo ing al dge aintain and grow your wealth. d Havi financia knowled is truly vital to ma
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Cha apter S Seven

From One Income To Ano F e e other
us ook ypes of inc come. They are: y Let u take a lo at the different ty 1. Ea arned Inco ome - ob btained fro working for someo or a co om g one ompany.
2. Pa assive Inco ome - in ncome generated from business m s. 3. Po ortfolio Inc come - inc come gene erated from investme m ents in pape assets. er Earned In E ncome com mes from having a j job in a company o in some c or eone elses s busines You ge paid for your time and servic render ss. et ces red. In the previous section, we s e mentioned that w workers wo just hard enough not to ge fired and employers pay just ork h et d h ers quit. This in ndicates th the inco hat ome an em mployee can generate e enough for worke not to q from w working for an employ is limit yer ted. There is the pos e ssibility tha an emp at ployee may y devote extra effo thinking the empl ort g loyer will p him/he more. It is a rare possibility pay er t y n s ssible. And even if it happens it is stil d s, ll particularly when business is difficult, but pos . r al ined by the employe as a resu of the employees e er ult e s limited. Whatever additiona profit gai extra e effort, the e employer w get the bigger sli of the p will ice pie. You a in effe making are, ect, g someone else ric through your add ch h ded effort. Dont think Im disc couraging t this. It is a good a Im just stating a fact. Its likely that y will be telling you act. t you urself mentally: Hey y, thats n fair. Fa or not, thats the w life is, w not air way when you work for m money. If I you are an employ yee, you ge your mo et oney or paycheck aft everyth ter hing else. It is earne income less taxe and everything els deductib before money rea ed e, es se ble, aches your hand. And if ever the money reaches your hand the next place it is bound to g is to pay A r d, go y
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amount is n enough you are bound to b not h, borrow, wh hich makes you debts your bills. If the a ow, o stake. Don ever get debt-ridde It is the nt t en. e ridden if it accumulates. No this is one big mis and quicksa to poverty. Earned Inc E come is a safe way t generat an incom There is not muc thinking to te me. ch g to do. E Except for a few high paying, high profile jobs, you work is mostly co e ur oncentrated d on a fe things where yo keep re ew ou epeating t the same functions. Unconsci iously, this s discour rages crea ativity, so b boredom st tarts to set in. It I is becau of this boredom that gettin to work every mo use ng orning is su a drag uch g and you keep on looking for rward to w weekends, h holidays, a vacatio and ons. Unless yo really l U ou love what you do without co onsideratio to the income it on genera ates, or unless you a highly p are paid, or un nless there is a lot m e more to lea in your arn job, or unless fina ancial secu urity is of n importa no ance to you there is no reason for you to u, n o ng The et he e hances you u stay lon in the rat race. T earlier it is to ge out of th trap, the better ch will atta financia success. ain al Passive In P ncome is generated from bus d sinesses. You can s produc or offer Y sell cts service or a combination thereof. Examples are buying/selling real esta es, n s ate, trading g mercha andise as in wholes saling and retailing, etc. In m many case you ne es, eed not be e physica presen in your place of business. There are also sm ally nt r . mall busin nesses like e vending machine where y g es you hardly require a employe to visit those ma y an ee t achines for refill (s since you can do it yourself). You can also go with franchising; e t n either be a franchis or a fra ser anchisee. T list is e The endless as long as yo do wha you love to do. s ou at The beaut of going into you own bus T ty g ur siness is t that you w work for yo not for ou,
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yourself, not someon else. Yo time is disciplined but more n ne our d e someone else. You enrich y e you own schedule. flexible because y can make your o Another ad A dvantage o going in busines especia in your own corp of nto ss, ally poration, is s that yo earn and spend b ou before tax is deducte unlike being an e ed, employee where you u are taxed before you spend d. Portfolio Income, j P just like p passive inc come, is making m money wor for you. rk Portfolio Income is generat from paper assets like bon ted nds, stock market, ce ertificate of ts, utual funds. They are called paper assets becau use literally they are y, e deposit and mu busines sses that r revolve on papers. It I is in portfolio inco ome where financial knowledg is of vit importa e ge tal ance. Your intellec interactin with creativity can either unm ct ng make or ma you ric ake ch.
Time fo Action or Now that y know the differen types of income, it time to ta some action! N you nt s ake Receiving earned income is fin but yo primary aim shou be to get passive R ne, our y uld g e and po ortfolio inco ome as mu as pos uch ssible. Utilize earned income t its fulles until you d to st u finally r reach your goal of ea r arning only passive a portfolio income. y and The preparator steps to take woul include: ry o ld First, you must save You must earnest establis your as F e. tly sh sset throug savings, gh whethe the mone comes from earne passive or portfo income If you ha er ey ed, e, olio e. avent done e so, bet tter start n now becau time is essential in buildin assets. You must discipline use s l ng t e
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side a fixe amount. For exam ed . mple, if you promise yourself to set $500 u o 0 yourself to set as month as sa avings, you must con u nsider this amount to be the lea you will save. If it o ast each m goes above this a amount, th better it is. If you have more bills to p he t e pay, do not pay them t m from yo saving Your p our gs. principle should be to pay yo ourself first not last. Get your t, money to pay yo bills e our elsewhere (by finding ways to do extra work or by thinking g b g ely w ome). Your savings a not me r are eant to pay y creative on how you can generate extra inco bills, th are me hey eant for fu uture inves stments to get you o of the rat race. I am not o out sugges sting that y throw y you yourself to a pitiful sta You ca still enjo life beca ate. an oy ause thats s what lif is meant to be, bu be prude in spen fe ut ent nding. Keep your exp p penses to n necessities s only (at least for t time be t the eing until y youve attai ined financ freedom cial m). Next, you must plan. While stil on the rat race, y must p N ll you prepare pla of what ans you wa to get in ant nvolved in once youv achieve financial success. ve ed Third, visu T ualize. Try to imagine or visual e lize in your mind the possibilities of your e prospective busin ness. This will give y you a prel lude of wh to expe and wh else to hat ect hat o e here are th hings that y missed to prepar you d re. prepare in case th Fourth, ca F ategorize. The time span for the transit tion period depends on many d s y factors like the ty of business, the value of y ype your asset if money p plays a ma part of ajor usiness, an the ava nd ailability of the people that may be involv in your e y ved your intended bu plans. Lastly, do some rese L earch. Know more ab w bout the bu usiness you will get in Talk to u nto. o specialists or peo ople you kn now who a more k are knowledgea able in you intended business. ur d avail of the services be gene eir s, erous to the money em y-wise and they will r reciprocate e If you a
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enerosity w helpfu informat with ul tion. Buy b books and tapes, att tend semin nars which h your ge will be helpful to increase your finan ncial knowl ledge. Yes I need t repeat t s, to that advice e because in ncreasing ones kno owledge is really imp portant and priceless This wil d s. ll again b save yo time, ef ou ffort, and m money in the long term. It also injects qu uality to your product t, service or busine e, ess. Your finan Y ncial ability combined with the urge or the will to be financia secure y d e ally e can driv you to g ve gain wealth. Just like an obstac course, there will be drawbacks. Your e cle l determination will determine what will go to your pocket. e r A person with finan ncially deve eloped ab bilities can see oppo ortunities f beyond far d what h his/her eye can de es etect. Creativity rev volves around the m mind that is trained d financia to mak money. It takes ti ally ke ime and te echnical sk to reach this leve Patiently kill h el. y keep de eveloping this skill. It I might be difficult fo an earn income person in the rat race to move to the e or ned e n m e wealth express. One way to motiva such p h y ate person is t force him to m/her to s aside a set fixed a amount for savings no matter what. Ag r r gain, creat tivity plays a vital role. Either s r he/she reduce h his/her exp penses, or find anot r ther sourc of incom or both. He/she ce me, e should persevere in develop e ping his/he financial knowledg er l ge.
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Ch hapter E Eight
From No To Be to To Be F ot
There are times that our attitud determin the ou T de nes utcome of o financial status in our n life. We mentioned fear in the pre e evious sect tion as on of the e ne emotions inherent in i n humans. Financia speaki ally ing, if we h have exces ssive fear of losing m money in business, it b ome winners. We alre eady lose the moment we back away from possible k e deters us to beco unities. Oth negativ traits lik laziness or pretending to be busy, like her ve ke s ewise holds s opportu us back from bein financia stable. k ng ally All A these n negative traits have correspon nding posi itive traits. For ever negative . ry e trait we feel or do try to of e o, ffset it with a positive one. For example, your only means of h r , y going to work is b walking but it get you tired when you arrive at your work place. So by g, ts d t k o you try to think of a way to get there e f easier and you came up with th idea tha a bicycle e he at e ve oblem. The problem is you don know ho to ride a bike and it scares e nt ow s will solv the pro you to think of fa alling or tripping from one. You might ge bruises w m u et which might become e scars and you ha scars. Not on m flawless skin, you dont is probably what youd a ate my s u w d whispe to yourse It is pro er elf. obably the main reas why yo never le e son ou earned to ride a bike e in the f first place. But think of the eas and goo effects it will brin you if yo learn to se od ng ou o ride on to your work place. This thought will motivate you to d your ve best in ne r e do ery n attainin a desire end . ng ed Apply it to financial m A matters. It h hurts you t lose money in bus to siness, so you decide y e not to e engage in one. To ov vercome th hese negative traits, try positive traits in s e small ways s
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Then gradu ually vent ture into b bigger wa ays when you feel you have built the e e first. T confide ence to do so; becaus if you dont, you w stay a lo se will oser all your life. I kno how it f ow feels to ha little ha earned money be depleted in busine ave ard d d ess. This is s the ma reason some peo ain ople prefer to be em r mployees instead of going into business. o Should you decide to try to go to business ( (which is a wise de ecision), one way to o ze losing mon is to c ney concentrate on the bu e usiness. S Stay focuse on what ed minimiz risk of l you are doing. Do get dis e ont stracted. B unconve Be entional in your ways if you ha to. You s ave u might s stumble alo the wa but just t same, concentra and don stop. ong ay the ate n't Anot ther one o those ba traits in us that we must try to minimiz is being cynical to of ad e ze g o what other peopl say. It is alright to doubt if there is re le o eason to, b doubt less if you but u e ng al he e d think it should be so. To keep on bein skeptica due to th negative or biased advice of people won get you anywhere and that is where the problem begins. nt s e other p Rem member the are tim when y would want to b someth ere mes you buy hing you lik or need ke d but finally decided not to because somebo o, e odys comment over rrode your previous s on? Then a afterwards you found out that you should have w d went ahead with your d decisio intentio to buy b on because th price alr he ready went up? How did you fe w eel? Thats cruelty to s o oneself I can he you say If only I Your d f. ear y . decision sh hould be ba ased on an nalysis and d finding ways of checking ab bout the ite you wa to buy, not just ba em ant ased on he earsay and d not with hout basis. Whe a pers en son is ignorant, the ere is only one cure: education through books, y semina etc. Bu to justify ones igno ars, ut y orance as if he/she is proud of it, is arrog s gance. This s is as close as one can get t stupidity e to y.
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ve loped financial abilit your ne ty, egative traits will automatically a y Once you hav a devel ositive. turn po
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SECTIO C S ON Busines Ven ss ntures and t Me s the easure of W e Wealth
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Ch hapter Nine
Friendly Financ Advic y cial ce
Know your business to stay in business. This is the general r K r e rule when y go into you o busines so that you can m ss make plans and have control of it. The key word here is know y e which s stresses th importan of fina he nce ancial and t technical s skills becau everyt use thing about the bus siness star and evo rts olves in you mind. ur Some quic highlight and rem S ck ts minders to g guide your thoughts t stay on the path to to o succes ssful wealth creation a below: h are 1. Education is the foundation of success, and learning is a ne ever ending g s. p real world. process Keep up with the r 2. 2 Creating wealth ta akes persistence, d determination, and good old d commo sense. on 3. 3 Y Your mind is the most power tool in creating w d rful wealth. Ke eep it busy y thinking and crea g ating ideas. Engage it in mental exercise o . t often. 4. 4 Set your mind to c creating we ealth and you will b constan be ntly in this s on. directio 5. 5 6. 6 7. 7 8. 9. 9 Information is power and it is v n r vital to crea ating wealth h. Determine how to ea more in less time. e arn n Know how to take ris intellige w sks ently and decisively. d Stay on top of fear. Do not let it overwhel you. D lm ties come a go. Le and earn to spo them. ot Opportunit
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10. 11. 12.
Earn to lea Use m arn. money to m make more money. Be genero in giving. You will receive m ous l many folds over. Create and concentr d rate on you own bus ur siness.
cting a busi iness, you can use a one or all of these criteria: any e In selec 1. 2. 2 3. 3 A business related to what you know mos and love s o u st e/like doing g. A business that fills a need. s A serve-all business that benef the ma fits ajority of pe eople.
Whe your ch en hoice of b business f fits any one of these criteria you hav already a, ve y increas your ch sed hances of s success. Even a time o uncertainty can be a time o opportun n of e of nity. Take this as an example: n Fuel pr rices are dictated by market for rces, law o supply and demand In count of d. tries where e transpo ortation fac cilities are dependen on fuel, transport nt , tation expe enses of c commuters s become prohibitiv when fu prices rise. Comm e ve uel muters are forced to find other means of e o r transpo ortation tha are che at eaper. Bicy ycles, moto orcycles, a and scoote are the next best ers e thing. If you are p f planning to go to business, trad o ding two or three-whe eeled vehic cles can be e what you are loo oking for. Or you ca buy par of these types of vehicles, assemble an rts f e and come up with y your own b brand. How about a two or th w hree-wheel led vehicle e them, a rental c company? This kind of taking a advantage of an opp e portunity at times of difficulty is s actually a way of helping the economy y y.
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s h Relation of Senses to Wealth Creation ed e aring, taste smell, an touch. Aside from e, nd A m We are blesse with five senses: sight, hea w ssed with emotion an a mind. These ble e nd essings sho ould be us to build sed d them, we are bles a good wealthy lif fe. Just like an au udio / video equipme our eye and ears can be used to re o ent, es eceive data a r spot oppor rtunities or to select a busines To ma this po r t ss. ake ossible, we e for our mind to s ocus our m mind on tho oughts alig gned to cr reating wea alth. Using sight and sound as g d s must fo recepto ors, with o mind a a proce our as essor in m money-mak king mode, we can create and , c d simulat a produ service or business that will benefi not only ourselves but many te uct, e, it s y people as well. T Take the case of fa amous inv ventors like Alexande Graham Bell (the e er m e one), the W Wright Brothers (the a airplane), a many o and others who became sensible to o o telepho new po ossibilities and discov veries. We must learn to think o n outside the box and t be persistent in wh to hatever en ndeavor we e entured int no mat how dis to, tter scouraging the results may see at first. g em have ve Whe I was st working as an employee, I w relating to my co en till was o-employee how the es e internet has produced grea second income for me, and h at r how it has the potential to earn n cks t obody seemed to list ten, even i Im alrea relating if ady g big buc for them too. But almost no to them my actua experien m al nces. Talk about bein totally closed to ne opportu ng c ew unities and d ideas! The few w listene were int who ed terested at first. I taught them some bas internet sic edge, but t they did not continue impleme e enting my t teachings when they y marketing knowle the me. scouraging to see pe g eople giving up easily g y. did not succeed t first tim How dis cess does not come overnigh Succes comes to those who pers s ht. ss severe and d Succ
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countering setbacks. If you trul want to be rich, sta focused ly ay d remain undaunted after enc ur espite any obstacle that come in your way. Sooner or late you will y es er, on you target de realize your dream of financ freedom. See wh gets the last laugh m cial ho e h!
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Ch hapter Ten
Money ymaking Ventures to Cho s oose From m
re s ymaking/bu usiness ventures to c choose from All you need is an m. n Ther are tons of money open m mind to spo and grab moneyma ot b aking oppo ortunities a around you.
Connecti Power ion The more peo ople you know, the better chances yo have o attaining financia e ou of al ss. succes How is this so? If yo network with man differen persons, each wit their ow distinct talents or ou k ny nt th wn t capabil lities, you can ask fo their ser or rvices and earn a pr rofit share every time someone e e else ne eeds their s services. For example, y your cousi is lookin for a gh in ng hostwriter t write a report. You can then to n writer frien youve r nd recently met in a seminar if he is willing to write a report for e g ask a w your co ousin. If yo friend a our accepts the offer after negotiatio he cou give yo a certain e r on, uld ou n percentage of the earnings (sort of lik a referra fee). e ke al matching g game. Con nnect the d dots. You r refer a wed dding plan nner youve e Its just like a m er ate getting mar rried. You refer a law wyer youve e met in a party to your forme classma whos g ning sessio to your boss whos looking f someon to handle his lega on for ne al met during a train Then you c ask for a fair shar of the ea can r re arnings jus for referr st ring. The p possibilities s case. T are end dless!
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ortant thing to do is to meet as many peo g t s ople as po ossible from all walks m s The most impo contact num mbers, bef friend them and ear their trus The big bucks wil m, rn st. g ll of life. Get their c follow.
The Pote ential of an Internet B n Business doesnt ne ecessarily r require ma anpower, in nventory, and a large a e Is there a business that d p hat d b can ne r me, e start-up cost? Wh if I told you this business c be don on your spare tim and the earning potentials could be massive a long as you apply the proper basic techniques? g s as r This is the power of hav ving an on nline busin ness. Prob bably the b biggest adv vantage of e is eres no face-to-face selling inv volved, an you can nd n marketing on the internet i that the t ort e. work at the comfo of your own home So if this is a very lucra f ative ventu ure, why is everyo snt one doing this? Statistics show w that mo than 90 of thos who try to start an internet b ore 0% se n business fa during th first few ail he w years. Now dont be discourag w ged. Many people f y fail becaus theyre doing it without an se w n actual plan and w without the proper gu e uide. But e even colleg drop-ou and slo learners ge uts ow s can market successfully on the in nternet if t they know the bas w sics and t the proper ques. techniq To b success in inter be sful rnet marketing, the fir thing yo should do is to fin out what rst ou nd hot, in-demand p product peo ople want so badly. You dont give peop what th NEED, ple hey you giv them w ve what they WANT. T There is a big diffe erence. Pe eople buy based on n emotions, and the justify th actions later thro ey heir s ough logic.
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k lains what people should do t prevent accidents t to t s For example, an e-book that expl s mething tha they nee since th lives d at ed, heir depend on the inform n mation. But might sound som guess w what? Its s something that they may NEED but its n someth D, not hing that they WANT. . But lets say y youre dyin to have a well-sc ng e culpted body, and he eres an e-book that e to unning 6-p pack abs in less than a month. Even thou its not n n ugh shows you how t have stu sary for you to have 6 u 6-pack abs youre m s, most likely t buy the e-book be to ecause you u necess WANT it. See the big differe e ence? o w ople want? OK, so how do you know what peo t Go to this link: http://inventory y.overture.c com e rd, ted ally h Type a keywor then a list of relat words would be automatica listed, along with the num mber of searches. Th larger th number the more in-demand the topic or subjec he he r, e c ct is. Here a tip: S es Search for w words that are relate to your f t ed field of inte erest. Thats because e the more youre in nterested i what youre selling the more motivated and succ in g, e d cessful you u come. Com mpile your research a brains and storm on a product th best co hat ompliments s will bec your fie of intere and the demand of the mar eld est e rketplace. Take into cons e sideration a also how m many are s selling that product. T Type the w word on any y search engine an youll fou out ho many ar supplyin that resource. nd und ow re ng Now that you k w know what product yo be selling, how w oull would you market it? ? You can join affiliate pr rograms and promote product as an a ts affiliate. Th means hat s be ent whether its an e-boo softwar or other s ok, re, youll b acting like an age for the product, w resourc The ve ce. endor will give you a certain c commission for ever sale you ry uve made.
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art eate a prod duct of you own, or if you dont ur i This is a great sta if you dont know how to cre ital For f rograms, s see: have a large capi to start-up with. F a list of affiliate pr ckbank.com m http://www.clic sociatePrograms.com m http://www.Ass earn more informatio on how to make m on money thro ough affilia program I highly ate ms, y To le recomm mend the e e-book selling at http://www.SuperAffiliate eHandbook k.com If you have some mo y oney to sp pend, you can buy resale rights to re u y eady-made e
products, so that youll get 100% of the earnin t t ngs. Just make sure they are not overly m e y saturated in the market an that yo follow t nd ou the resale rights rul les. The li inks below w provide you with resale righ product every mo e hts ts onth: http://www.self f-improvem ment-million naires.com (for selfm -improvement) http://www.thelostfiles.co (for pub domain om blic n) tes. The be eauty of th hese types of sites is s The above websites are also membership sit ey curring pas ssive incom from the membe me eir ers. that the earn rec You may also want to hire profe o essional w writers to d the job for you. The most do b mended pla to find good write is: ace ers recomm http://www.elan nce.com w passionate about the subject and youre r e e really into writing and you have d e Now if youre p the tim why no create an e-book yourself? Its actually more g me, ot a gratifying w when other people commend you for yo writing masterpie d our ece. now you ha the pro ave oduct. Wha next? ats So n Well you have to build a website. Use HTM editors like Frontp l, e . ML page, Drea amweaver r,
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r ask etc. to make your webpage creation ta a lot easier. y nt Put scription fo orm to col llect email addresse on your l es r Very Importan Note: P a subs website Offer som e. mething va aluable like a report o e-course in exchan for the email. e or e nge eir Your websites main pu r s urpose is to either g the sa or to c t get ale capture yo visitors our s emails so you c can follow w-up with them anyt t time you want, usin what we call an ng w n sponder. Y can sig up for a free autor You gn responder at: autores http://www.free eautobot.co om en ome cash, switch to a paid au utorespond becaus it might der se Whe youve earned so affect y your credib bility if you using a free one. Youll also have mo options if you use re o ore s e a paid a autorespon nder servic like: ce http://www.awe eber.com http://www.getresponse.c com To p publish you website on the int ur ternet, you have to a u apply for a hosting service and s d get a domain. T The hostin service is like your rental fee for h ng having you website ur e ed ade availa able all ove the net, while you domain is the act er , ur tual link or uploade and ma name of your w website. Some hos S sting acco ount alrea ady offer free dom main name e registra ation, like h http://www w.homestea ad.com . If not, then you can ge a domain name at et a very cheap pri ice at http p://www.godaddy.com . Use t m the search engines to find the h e various hosting accounts an compar the adva s nd re antages an disadvantages of each. nd e Next comes the all-impor t rtant task o marketin your pro of ng oduct. Ther are seve types o strategie to prom re eral of es mote your p product all o over the ne et.
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1.
A Article writ ting and su ubmission t article d to directories.
urce box o author p or profile at th end of your article. This is one of the he e Put your resou arket your product be ecause it establishes your cre edibility. It also gives s best ways to ma hen a new wsletter publisher w who has a large da atabase of you massive exposure wh ibers uses your artic s cles, or wh hen a big time website owner puts you article in r ur n subscri his/her webpage. Some fam mous article directorie are: e es http://www.ezin nearticles.c com amarketers s.com http://www.idea m http://www.articlecity.com articles.com m http://www.goa rningfolder r.com/subm mitarticle.a aspx http://www.lear ction.com http://www.authorconnec If yo have th money and you w ou he want to sa on time you can use a m ave e, n mass article e submis ssion servic like: ce http://www.sub bmityouraticle.com http://www.articlemarkete er.com http://www.articleannoun ncer.com 2. 2 Posting at forums.
Sear for foru rch ums on the internet that caters to your p e s product cat tegory. For example, youre selling a h hypnosis e-book. Sea arch for H Hypnosis fo orums on the net an sign up. nd an estions or o offer advice (which e establishes your cred s dibility). At the end of You ca ask que your post, your signature line would be see en and y your produ would get some uct e
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ure. exposu 3. 3 Searching for Joint V Venture partners.
Ther might be some big time ven re e g ndors, mark keters, or publishers who have the same s e e target audience a you do. Just ima a as agine the in ncome pot tential if yo can tap into their ou p database of subs scribers. This is calle leverage. Its their subscribe but yo are able ed r ers, ou e mote your product to them thro o ough your Joint Ven r nture partn ners. Reme ember that to prom many b time m big marketers wont reply back to you if yo ask the to pro o ou em omote your product. To incre ease your c chances o success, subscribe to their n of , e newsletters first, then s n complim ment them on their website, p m products, etc. Befrie end them a and try yo best to our o establis their tru first. An when yo send ou your pro sh ust nd ou ut oposal, give them an irresistible e e offer like a muc bigger share of the comm ch mission. G Give them a sample copy for e evaluat tion. Offer to promo their products to your own list. Out r ote o n tline and id dentify the e benefits theyll be getting as a result o your Join Venture proposal. s e s of nt 4. 4 Other inter rnet marke eting strate egies.
If yo have so ou ome available cash a hand, yo may pu at ou ublish your ad in new wsletters or magazines that t target your specific audience. Probably the best p r a place wher you can re n find publishers that cater to your targe consume is: et ers fezines.com m http://www.thedirectoryof You may also do pay-p o per-click a advertising (not free search engine optimization g e), n and offline adve ertising pro omotions s such as printed (free), a even o t-shirts, mugs, etc. All yo need is a little creativity to m ou make some good mon e ney. Internet m I marketing c covers a m much more intensive scope th e e han what I Ive written n
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e ou d e-books th can tea you on hat ach n above. Using the search engines, yo may find tons of e uccessfully on the int y ternet. You may also subscribe to as ma internet u o e any how to market su etters as yo can to g free inf ou get formation a update regardin this very and es ng y marketing newsle ve lucrativ venture.
Real E Estate One of the widely selec cted busine esses in th passive income group is r he e real estate. eal t Why re estate? Because people perceive this business as almost sure profit business. Majority of familie dream o owning a house. T y es of This makes the real e s estate mar rket a huge e market. It is also a general perception that a ho ouse is an asset. It is usually t biggest the single investment for an ave t erage inco ome family. . The perception that it is a sure prof business is not alw n fit s ways true in reality although the e es ng t osing mone is highe There a times real estate ey er. are e chance of makin a profit against lo propert ties are so at a loss; not to m old mention tho proper ose rties that have been mortgaged d to bank or finan ks ncing comp panies whe the app en praised or loaned mo oney in exchange for the hou is alwa lower than prevai use ays iling or actual price, s should the house be foreclosed d for non-payment of loans. n ouse is alw ways an a asset is als not cor so rrect; it can (in many n y The perception that a ho ces) be a liability. If you own a house or in y ntend to ha one, c ave consider the following g instanc factors to determine if it is a asset or a liability: an r
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1. 2. 2
Property ta (which i an expen ax is nse). Mortgage payment t the bank or loan c to k company ( (consider the interest t also an exp pense. charge which is a
3. 3
If you are having the house re e ented to a tenant, is the rental enough to o above-men ntioned exp penses? cover a
4. 4
Other incid dental expe enses (including maintenance).
Offset the expe enses aga ainst the inc come you will genera from th house and you wil ate he a ll f sset or liab bility. If yo are usin the hous for yourself, compare these ou ng se e know if it is an as expens to the rent you would pay y ses w your landlo ord. Assum ming you a confide that the are ent e house wont be f foreclosed in the eve of nonent -payment of loans, y have t consider you to ue house agai inst the tot money y will inv tal vest on it o once it has been fully s y the valu of the h you paid for. That wa you will know if th house y bought is too exp ay, he you t pensive or not, and if e make mon out of it once you sell it. ney t u you are going to m The mortgage payment you make to the ba may le e ank eave you w without an savings, ny s ther opportunities to make mon becau of your obligation ney use r n and you will miss out on ot on the house. at t e eners or w wake up c calls just in case they havent n Wha you just read are eye ope occurre to you. They are not meant to be reco ed ommendat tions. It is a case-to-case basis s depend ding on the situation. Still, the d e decision is yours.
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en s alue of the real estate property you own o want to buy, some e or e Whe it comes to the va of the determinan that can make it m d nts n more valua able or less valuable are: s 1. 2. 2 Location. A Accessibili to tran ity nsportation, schools, stores, c church, an servicend oriented establish hments. 3. 3 4. 4 Security of surroundings. f Environme ental condition like e elevation (s susceptibil to flood lity ding), road d on. conditio 5. 5 6. 6 Sanitation or cleanlin ness of sur rroundings (is it near a dumpsit s te?) W Weather condition; in tempe erate clim mates, a corner lot is more t e expens sive but a corner lo in snow areas is cheaper due to m ot wy r more work k involve in shove ed eling snow. . If yo are looking for a house to bu you can make an offer as lo as half the asking ou uy, n n ow g price if you feel it is too h f high. Do no think th a much lower off would offend the ot hat h ffer e seller. It is part of business. If consum items o sale ca go as lo as half the regular f mer on an ow t an he manner. price, a house ca also be priced in th same m If I you offer to buy a house and the seller accepts but you ar still havi second r d re ing d thoughts if you w want to bu or not, you can c uy come up w conditions like: subject to with o approval of partner, where your pa ein artner could be your w or bus d wife siness associate or a friend. Should you be in the business of buying or sellin real est S ng tate, a goo practice od e would b to find b be buyers first before clo t osing a de with sellers even i you have found the eal if e e
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irst. With th kind of set up, yo profit is realized th momen you buy the house, his our s he nt seller fi not afte you sell it. er In I the business of ow wning real estate properties inte ended for r rental to te enants, hire e a prope erty manager or sup pervisor. A good ma anager when you pa him/her well is an ay n asset fo your bus or siness. He e/she will re eciprocate what you pay with d dedicated s service and d valuabl informat le tion which you can use for yo other r h our real estate business e ses. It also o allows you more time and attention t other moneymakin venture which makes your to ng es m work a lot easier. Information about ba I n argains on real estat can be available in law offices and in n te n foreclos depart sed tments of banks and loan com d mpanies. Co ourt house handling civil suits es g s regarding land di isputes are also sources of inf e formation. It is most likely that properties s for sale are handled through bidding. e h You can a Y also buy a big piece of land a e and sub-divide it int small on to nes before e putting it up for s sale, simila to sub-d ar division developers b in a sm way. This is one but mall T e of ncreasing y your profit margin. Or way to increase the value o the house you sell, thereby in an he w nd uying sma lands lin all nked to e each other r; you ca do it th other way aroun - by bu consolidate it into one big p o piece, and s it to a ready buye sell er. Another possible so A ource of real estate business is memo e s orial lots. Some rich h people invest the money into buying many pieces of thes lots and wait for p eir g se d prospective e arketing arm can be the sales people of the very company where you m f u buyers. Your ma om. j commission from yo every tim a transa ns ou me action they y bought the lots fro They just draw c mend mate erializes. recomm
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The T option on real e ns estate are various an numerous. Your c nd creative juic can be ces e put to good use in this line of business g n o s.
Investing Investing c be a ve profitab venture if you hav the righ knowledg about it I can ery ble e ve ht ge t. Investo can be categorize into two: ors ed First are the o t ones who invest the money on readyeir -made stocks like a packaged d deal. T They can be likened t RTW (re e to eady-to-we ear) clothin They ar similar t buying a ng. re to comput ter that c comes with the sel llers reco ommendation of mo onitor, CPU, printer r, keyboa etc. co ard, ombined to make a pa ackage. O it is like a set menu in a resta Or u aurant. The e investo doesnt have to w or worry or thi much, leaving th choices in the ha ink he s ands of the e broker. The secon type of investors are the ones who make, c T nd f s o create, ass semble, or custom mize their o own invest tments. Th hey are kn nown as p professiona investor because al rs e they co ome up wit their ow creative combination of inves th wn stment pac ckages. Th can be hey e likened to tailor-m d made clothi ing. Being in th categor requires extraordin B his ry nary skills s such as the following e g: 1. You mu be able to see wi your mi what is usually m ust e ith ind s missed by others. The o e mind w works creat tively. It is like predict ting somet thing that is likely to h s happen. 2. 2 You m must be a able to po osition you urself as the impor rtant go-between or middlem man. Its like arrang l ging a dea between a buyer and a se al n eller in rea al estate.
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3. 3 You must be able to organ e nize profes ssional or s smart peop - people who are ple e more intellig gent than y are in their own f you field of exp pertise. You hire their even m service and utiliz their talent to suit your creat es ze tive ideas. In I a way, wealth do oes not alw ways come in the fo orm of mo oney. Wea alth is also o knowing how to invest. Kn nowing how to invest is active thinking. The more ways you w e u e se nd esting, the s stronger and more cr reative it b becomes. expose or exercis your min on inve
Oth Recommendable Moneyma her aking Ventu ures One of th best-lik O he ked source of pass sive incom is the network marketing me g busines also po ss, opularly kn nown as multi-level m m marketing. You need not come up with a d e huge c capital unli ike the co ommon or conventio onal way o doing business. It does not of t require any emp e ployee. Yo do all t ou the work y yourself. B it requ But uires hard work and d patienc You must be com ce. mmitted and it takes time to r s realize a s six-figure p annum per m income e. Portfolio In P ncome is d derived fro paper a om assets; i.e stock ma e. arket, bonds, mutua al funds, notes (IO OUs) and t the like. M Most profe essional in nvestors in nvest in th kind of his income This kind of invest e. d ting require financia skills. Th wider th scope of financia es al he he o al skills yo have, th better y ou he your chance of creat es ting wealth h. Some peo S ople prefer to special lize on a c certain field The world of spec d. cialists is a world o learning more abo less. As their kno of out s owledge inc creases on a certain field, their n area of coverage decrease From w f e es. where they are empl y loyed now it will be difficult to w, o look for another j of the same line and incom That is why, it is advisable that they job e me. s s e y
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e embers of their field o specializ of zation for t their own p protection. become union me As A much a possible you mus venture i as e, st into a busi iness that doesnt re equire your presence much, giving you more time to look f other o u for opportunitie Small businesses es. b s like coin-operated machine (gumba es alls, joy rid des, snack foods and drinks) situated in k n ng s orites. The individual sales co e ome in sm amoun but the mall nts e shoppin centers are favo volume comes big when tot e g taled and the profit m margin is ve attractiv ery ve. If I you are acquiring a franchise, determ e g mine your return of investme and be r f ent e meticul lous on the terms stip e pulated on the contra n act. People wi P ith specia skills on music a al n and writing collect royalties from their intellec ctual prope erties. Co ollectors items (sta i amps, rare coins, antiques, paintings, e preciou stones and meta cards) usually appreciate in value. There are countless us als, e s other b businesses you can consider go s c oing into. O Only one th hing to kee in mind. Know the ep e busines first befo you go into it and keep you mind as creative as it can be ss ore o d ur s e.
Marketi ing Your Busines r ss
Busi inesses that give gre empha eat asis to thei sales an marketing strategies have a ir nd better e edge of su uccess eve if they a just ord en are dinary. A p product or service that is better than th ordinary in terms o quality m he y of might be a able to surv vive the m market even without a n good m marketing s strategy, b the co but ombination of good m marketing and produ quality uct y, especia with a reasonable price, is a sure hit. However ordinary products where poor ally r, w marketing strateg is emplo gy oyed will ha difficulty penetra ave ating the m market, thus gathering s g n elves and counters. It is the m marketing a selling technique that give and es e dust on store she
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uct tra o xtraordinar This is the reason ry. n an ordinary produ or service the ext push to make it ex g tions spend millions just to pro d omote their products or service through s es h why big corporat extensi sales tr ive raining of t their staff a through massive advertisin and ng. A ve effectiv yet free advertising metho is throu ery ve e od ugh word-o of-mouth. When you u provide great pro e oduct/servi and es ice stablish frie endly relat tionships w your customers, with c they wi come to naturally like and tru you. Th will the recomm ill ust hey en mend whate ever youre e selling to their friends. The friends w then te other pe eir will ell eople, and so forth. T result The t: and more customers coming in without any adver s rtising effo on your part. The ort r e more a importa thing is for you to continuou ant s o usly provide the best product/se e ervice you could ever give. O Once youve gained th trust and friendsh youre in good business. e heir hip, e Not only will y your curre custom ent mers refer their conta acts, but t they themselves wil ll regular patroniz your of rly ze ffers. You may then present to them oth goodie that are o her es e complim mentary to what you are selling or offer t o g, them more expensive products. e e Loya custome are tru treasure Treat t al ers ue es. them as your best f friends, and they wil ll reciprocate your f friendship with profits s.
Fi inding Out What Wor rks If you're se elling a pro oduct, test and track different p prices. Som might think that a me t o ales. Not n necessarily the case. It might even bring y g higher price would result to fewer sa es se have a higher perc ceived valu That's why it is ue. s about more sale becaus it will h sary to ana alyze the re esults of ea test. ach necess The same principle applies wh T hen you're selling m e multiple pro oducts. Tes and see st e
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combinatio of goods or prices would trigger people to buy yo package. on s e our which c To T know w what people want, yo have to actually as them. C e ou sk Conducting surveys is s a very effective m method. If you can a open-e ask ended que estions (qu uestions that can't be e answer with a simple "ye or "no") that wou be bette By doin this, you able to red es" ), uld er. ng u're o get insi their m ide minds and f find out the desires and buyin behaviors. To entice them to eir ng o fill up your survey give the a small gift or tok of appr y ys, em l ken reciation.
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Cha apter E Eleven

How Rich is Rich? w s
Just how w J wealthy sho ould a pers be to b conside son be ered financ cially self-re eliant? To T this qu uestion, th here is no specific a answer. It is likely that there will be a t e differen in opin nce nion betwe two pe een ersons who may hav the sam financia status in o ve me al n life. We can expe an eve obvious differenc in answ e ect en s ce wers between two pe ersons who o are not in the sam financia status. t me al Some answ S wers may sound like the follow wing: A person is wealthy i he/she has a net w s if worth of at least one m million dolla ars. A person is wealthy i he/she is totally debt-free. s if s A person is wealthy i he/she can live the lifestyle he/she choo s if oses to have. siness, ca afford to A person i wealthy if he/she has a hou is use, a flourishing bus an o take trips every y year, and b most of the luxuries in life. buy f A person is wealthy i he/she can afford to give to c s if charities. Actually, th A here is no line that d divides a p persons fin nancial sta atus to be considered c d rich or not. Wea alth is in th eye of the behol he lder. To some (not necessaril financia ly al wealth) health is wealth ev if their pockets a ), s ven r arent. Still others m consider spiritua l, may al wealth as their foremost priority. Even for t E the wealthy, there is never en s nough wea alth. That i why, we see very is e y wealthy people st continua making their assets grow. y till ally g Financially speaking if you h F y g, have income that is higher t s than your expenses s
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(includi ing reason nable luxur ries) and y your asset value sta ahead of inflation rate, you t ays n u can con nsider yourself to be financially self-relian y nt.
Financial income does not reti with ag That is why, ther is a nee to make F ire ge. re ed e money work for y you, which brings us back to th importan of fina he nce ancial know wledge and d why financial kno owledge is better than money its n self. For F as lon as your financial mind keep working there will never be a hole in ng r ps g, e n your po ocket. True wealth is all in the mind. e m
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DISCLA D AIMER A AND T TERMS OF US AGR SE REEME ENT

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TABLE OF CO T ONTEN NTS

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INTR RODUC CTION

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How the Book is Structured

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SECT TIONA AR RICHFO OODFO ORTHOUGH H HT

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Tap Your Potentials

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Cha apter S Seven

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SECTIO C S ON Busines Ven ss ntures and t Me s the easure of W e Wealth

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10. 11. 12.

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