Posts tagged wealth creation

How to Obtain Financial Success

There are a measure of wealth rules that must be abided by in order to accomplish financial, freedom, success and prosperity. For instance, rich individuals understand that they have to get paid based upon their final result instead of on their time, they understand the importance of holding unlimited revenue potential, and they know that they must leverage themselves so that they don’t need to work hard in order to bring in monumental sums of money. They also realize that they must create assets and opportunity as it’s not always about buying those things.

Affluent individuals abide by these rules and consequently they’re successful financially, yet most individuals don’t even know about these principles, not to mention live by them. That’s likewise why financially free individuals know about and capitalize on passive income, although the masses don’t. Basically, passive income minds of all the “wealth principles” and provides everybody the ability to grow limitless wealth.

Once you work to produce passive income streams, you’ll be getting paid founded on what you put in, not simply the time you spend executing it. As you are able to produce as many income streams as you wish, there’s absolutely no limit to the sum of money you are able to potentially earn.

When formulating passive streams of income, you’re not spending time, you’re investing it. Instead of trading time for revenue you’re investing time into long-run residual profits.

For a few illustrations of passive income consider a writer who composes a book, publishes it, and then brings in residuals on it for the remainder of his life. Or consider having a number of coin vending machines.

There are likewise a lot of simple home and net business models that anybody may easily begin to utilize with big potential. One big benefit that many individuals find in this sort of passive stream of revenue is that a lot of profitable businesses, particularly online, may be started free or really cheaply.

Make sure that you learn all you can about passive streams of revenue today.

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What does “Financial Freedom” mean to you?

Before you read this post I want the reader to understand that this is just my general consensus and opinion it is not back by any polls or surveys.  The  21st century concept of time and money are being redefined. ”Financial Freedom”, is a term that has gained much importance in the changing financial scenario.

For some individuals ”Financial Freedom”  can mean the freedom from continuous financial responsibilities through a planned management and allocation of assets. It could free a person from back-breaking work by giving him a steady source of income for life.

One must not think that a financially free person is also debt free. However,  prudent asset management ensures that a person debts do not become a burden but only a part of his over-all expenses. In this way, his debts do not hinder his long term financial goals.

Financial freedom cannot be equated with being rich. One must not forget that surplus wealth requires constant supervision. In the long run, a rich man’s or woman’s obligations do not make him or her ”financially free” in the true sense.

Thus, financial freedom maybe defined as a lifestyle that blends expenses and income according to the individual preference. This makes ”financial freedom” a more possible and convenient state of being.

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Are you creating derivatives?

Before I begin to write about how to create and develop derivatives, I first want to ask you do you know what a derivative is?  If you think the derivative I’m talking about is some exotic financial instrument traded on Wall Street then your wrong.  The definition of a derivative is a byproduct or substance that can be created by another product.  The root word for derivative is derived.  So let me illustrate for you an example of a derivative; let’s use an apple.  An apple is a derivative of an apple tree; apple sauce, apple juice, and apple cider is a derivative of an apple.  Do you see my point, the example that I gave you were two examples of byproducts of another, which in turn created derivatives.

As a business owner or entrepreneur you too should be creating your own derivatives; that derivative could be a book, an online course or a coaching program.  The derivatives that a business owner creates become byproducts for that business, and when you create your own derivatives you create infinite income or passive income for yourself.  Your business derivatives become assets created by you, and when you create your own assets; your assets create passive income.  See most business owners concentrate on generating earned income, for example how can I get more business or get more clients.  But when you concentrate on creating earned income, the asset side of your balance sheet is empty and it has zero assets.  In order to create passive income you have to build your business assets which in turn are your derivatives.  When you begin to create derivatives the asset side of your balance sheet builds up, which will create passive income on your profit & loss statement.  Remember in business it’s important to have a profitable balance sheet as well as a profitable income statement.  So what are you waiting on get started on that book, put together that online course, or start that coaching program.  Remember when your begin creating financial wealth your only using 10 percent of your time and living on 90 percent of what you created.

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You Don’t Deserve to be Wealthy!!!

That’s right I said it, “YOU DON’T DESERVE TO BE WEALTH”!!  So, I know your wondering why would you say that, I have that right to deserve to be anything I want.  Let me ask you a question then, if you deserve to be wealthy, what are you doing to create wealth for yourself.  What are you feeding your mind, to develop that wealth mindset.  I want to share a video with you, listen to Les Brown and Bishop Bernard Jordan share their incite on this subject:  Let me know what you think.

 

 

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A story on Financial Literacy

I’m financial professional who’s an enthusiast for building and creating wealth.

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A story on Financial Literacy

I’m financial professional who’s an enthusiast for building and creating wealth.

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I-Phone App and Finances

After months of frustration trying to import and export transactions with Quicken using a a previous app (which I will remain nameless).  I just recently loaded Mint.com app on my phone.  So far I like the reviews that I read so far, but my assessment of the app is going to be its ability to import and export transactions with Quicken.  I did not want to switch from using Quicken and go to Mint.com to handle budgeting and keeping track of my personal finances.  Looking at the app’s description I did not see apps if there is an ability to import and export QIF transactions, but I thought I will access it anyway.  I’ll see how it goes and keep you all informed.

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If U Think Education is Expensive try Ignorance

If u think education is expensive try ignorance


We’ll the title says enough, if you want to escape financial bondage the first step is to immerse yourself with education.  I listen to people who constantly complain about their situation, I want to invest in real estate, I want to start a business, I want to eliminate debt.  But when you ask these same individuals are they willing to invest in themselves to seek education the answer is always I don’t have time, I have to use my money on something else.  Escaping the shackles that may be holding you back is you, not educating yourself will prevent you from moving forward.  Some education is free and requires no start up costs the library, socializing with other successful entrepreneurs and real estate investors, seminars, webinars, internet and browsing at Barnes & Noble.  Get started today and make a difference with your situation.

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