financial independence “the philosophy of the rich versus the poor is this: the rich invest their...
TRANSCRIPT
FINANCIAL INDEPENDENCE
“The philosophy of the rich versus the poor is this: The rich invest their money and spend what’s left; the poor spend their money and
invest what’s left.” Jim Rohn
Financial Independence, being able to live from the income of your own personal
resources. In other words, you don’t have to work to make a living. You work for
accomplishment, for pleasure, or other reasons.
THE PLAN
Start with some plan and then refine it as you go or as your needs require or your dreams require.
It’s the plan that counts.
It’s okay to strive to be rich?
Put together a balance sheet: Assets, Liabilities, Net Worth.
THE PLAN
Out-go versus up-keep. If your out-go exceeds your income, your up-keep becomes your downfall.
Profits are better than wages. Wages make you a living; profits make you a fortune.
Goal: Increase Assets and Decrease Liabilities.
THE 70/30 RULE
After you pay your fair share of taxes?
70%--spend on necessities and luxuries.
10%--should go to charity.
10%--use to create wealth(capital investment)
10%--should be allotted to savings.
THE SLIGHT EDGE
Parkinson’s Law: “Work expands to fill the time available for its completion.”
What ever I have, I spend.
What ever I have, I spend a little more.
“Living below your means.”
FINANCIAL DREAMS AND GOALS
Be specific, vivid, and have a time line.
Be willing to pay the price.
Have a plan to start.
One simple daily discipline that you will commit to doing each and every day from now on.
THE MONEY CURVE
WHICH CURVE ARE YOU ON
SUCCESS CURVE
Turn your car into a drive-time university.
Make your Prime Time work for you.
What about the E. I. R.’S in your life?
Take baby steps. “If you add a little to a little and do this often, soon the little will become great.” easy to do—easy not to do
LIFE PATHS
THE GREATEST GIFTS
My health is my greatest wealth.My wisest business investment; My own
Personal Development.Failing many times.Learning and doing the Slight Edge
PhilosophyHaving a wife like SarahA a Personal Relationship with my Savior.Easy to do—Easy not to do
FOUR TYPES OF PEOPLE
E
S
B
I
GOLDEN YEARS
Social Security
Mutual Funds
401 K’S
Pension Plans
Stock Market
WHY NETWORK MARKETING
Work from home.Tax breaks.Low investment.Time freedom.Residual income.Options in life.In business for yourself but not by
yourself.Richest people build networks.
WHY NETWORK MARKETING
Work while you earn.Systems already in place.Level playing field.Average person has a real shot.Control of your life.More freedom—more ChoicesDevelop many new friends.Mentorship -- DignityStay five years and become a new person.
IS N.M. FOR EVERYONE?
If you perform you get paid.If you don’t perform you don’t get paid.Do you like other people telling you what
to do?If you wish you can climb the ladder to
the top.Do you have a burring desire in your guts
to have life unlimited.Easy to do --- Easy not to do