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<ol><li> 1. How to get from where you are to where you want to be With reference to the book The Success Principles How to get from where you are to where you want to be [2005] Jack Canfield and Janet Switzer www.thesuccessprinciples.com 1J. Canfield 2005: The Success Principles </li><li> 2. There is a science of getting rich, and it is an exact science, like algebra or arithmetic. There are certain laws which govern the process of acquiring riches, and once these laws are learned and obeyed by anyone, that person will get rich with mathematical certainty. [Wallace D. Wattles, Author of The Science of Getting Rich] 2J. Canfield 2005: The Success Principles </li><li> 3. There is a secret psychology to money. Most people dont know about it. Thats why most people never become financially successful. A lack of money is not the problem; it is merely a symptom of whats going on inside you. [T. Harv Eker. Multimillionaire and president of Peak Potentials Training] Financial success also start in the mind. First decide what you want, believe its possible and that you deserve it. Then you must focus it by thinking about it and visualizing it as if it were already yours. Finally, you have to be willing to pay the price to get it with disciplines effort and perseverance over time. 3J. Canfield 2005: The Success Principles </li><li> 4. Identify your limiting beliefs about money. To become wealthy, youll need to surface, identify, root out, and replace any negative or limiting beliefs you may have about money. Messages from early childhood can actually sabotage and dilute your later financial success, because they subconsciously emit a vibration thats contrary to your conscious intentions. 4J. Canfield 2005: The Success Principles </li><li> 5. Examples: Its not Okay to make more money than my father. Becoming rich would violate the family code. If I become wealthy, I will be a burden You must begin to understand, therefore, that the present state of your bank account, your sales, your health, your social life, your position at work, etc., is nothing more than the physical manifestation of your previous thinking. If you sincerely wish to change or improve your results in the physical world, you must change your thoughts, and you must change them IMMEDIATELY. [Bob Proctor. Author of The Power to Have It All] 5J. Canfield 2005: The Success Principles </li><li> 6. Three steps to turn around you limiting beliefs about money. 1. Write down your limiting beliefs. Money is the root of all evil. 2. Challenge, make fun of, and argue with the limiting beliefs. Money might be the root of evil for someone who is evil, but I am a loving, generous compassionate, and kind person who will use money to create good in the world. 3. Create a positive turnaround statement. When it comes to me, money is the root of love, joy, and good works. 6J. Canfield 2005: The Success Principles </li><li> 7. Money affirmations - every day. If you want to accelerate reaching your financial goals, you need to practice saying positive money affirmations every day. Money comes to me in many unforeseen ways. Every day, my income increases whether I am working, playing, or sleeping. All my investments are profitable. People love to pay me money for what I most enjoy doing. 7J. Canfield 2005: The Success Principles </li><li> 8. Use the power of releasing to accelerate your millionaire mind-set. All you have to do is let yourself fully experience the accompanying feeling and then release it. just take yourself through this little process whenever a negative or limiting belief or feeling about money comes up. What am I feeling right now? Could I welcome and allow it? Could I let it go? Would I let it go? When? 8J. Canfield 2005: The Success Principles </li><li> 9. Visualize what you want as if you already have it. See all your financial goals as already accomplished. See images that affirm your desired level of income such as paychecks, rent checks, royalty checks, dividend statements, and people handing you cash. See images of your ideal bank statements, stock reports, and real estate portfolios. See images of the things you would be able to buy, do, and contribute to if you have already met all of your financial goals. Finally, remember to add in the feeling of appreciation and gratitude for already having these things. 9J. Canfield 2005: The Success Principles </li><li> 10. If you dont put a value on money and seek wealth, you most probably wont receive it. You must seek wealth for it to seek you. If no burning desire for wealth arises within you, no wealth will arise around you. Having definiteness of purpose for acquiring wealth is essential for its acquisition. [Dr. John Demartini. Self-made multimillionaire and consultant on financial and life mastery] You must decide to be wealthy. Decide from your deepest place in your heart to have wealth in your life without worrying if its possible or not. Decide what wealthy means to you 10J. Canfield 2005: The Success Principles </li><li> 11. Decide what wealthy means to you. Define, what your financial goals are and include written goals like these: I will have a net worth of $________ by the year____. I will earn at least $________ next year. I will save and invest $________ every month. A new financial habit I will develop starting now is ___________________. To become debt free, I will ____________________. 11J. Canfield 2005: The Success Principles </li><li> 12. Find out what it cost to finance your dream life (now and later) and get real about your retirement. Decide exactly how much money youll need to live the lifestyle of your dreams be aware your current lifestyle represent your past thoughts and actions. This could include rent or mortgage, food, clothes, medical care, automobiles, utilities, education, vacations, recreation, insurance, savings, investments, and philanthropy If retirement is in your plan, consider that for every $1.000,-- in monthly income during retirement, you will need to have $230.000,-- invested (in securities); if you focus an income of $4.300,--, you would have to have invested $1.000.000,-- at a rate of 6%yield. (USA 2005) 12J. Canfield 2005: The Success Principles </li><li> 13. Become conscious about your money. You have to know precisely where you are and where your want to go an whats required to get there. 1. Step: Determine your net worth (total assets minus your total liabilities) 2. Step: Determine what you need to retire 3. Step: Become aware of what youre spending Track your expenditures monthly per year (see example) 13J. Canfield 2005: The Success Principles </li><li> 14. Become conscious about your money. 4. Step: Become financially literate it takes a lot of work and time to change your thinking. Learn proactively about money and investing read at least one good financial book every month for the next year choose the best titles: www.thesuccessprinciples.com Seek out professionals, who can teach money skills 14J. Canfield 2005: The Success Principles </li><li> 15. The Empowered Wealth Quadrants Optimize all your assets Human Assets Enrich/Love Family Health Spirituality Happiness Well-Being Ethics Morals Character Values Unique Ability Relationships Habits Future Heritage Intellectual Assets Capture/Learn Wisdom Formal Education Life Experiences (both good and bad) Reputation Systems Relationships Ideas Traditions Alliances Skills Talents Financial Assets Capitalize/Earn Cash Stocks &amp; Bonds Retirement Plan Businesses Real Estate Things-Your Financial and Material Possessions Civic Assets Contribute/Give Taxes Private Foundations Charitable Contributions of Financial Assets, as well as Human and Intellectual Assets Copyright 2002 Empowered Wealth, LLC Choice &amp; Control The Empowered Wealth SystemTM 15J. Canfield 2005: The Success Principles </li><li> 16. The Empowered Wealth Quadrants (by Lee Brower). Human and intellectual assets have been chosen by wealthy families with priority if they could choose only 2 of the 4 quadrants. They know, that if their children have those, they can always make more money. If they only have the money assets (and not the other two) , they will ultimately loose the money. I invite you to start thinking about how to build and optimize your assets in all four sectors of the Empowered Wealth Quadrants. If you do, then you will create real wealth in a balanced and integrated way and you will keep money in its proper perspective. It is just a tool to be used for higher purposes. 16J. Canfield 2005: The Success Principles </li><li> 17. You have a divine right to abundance, and if you are anything less than a millionaire, you havent had your fair share. [Stuart Wilde. Author of The Trick to Money Is Having Some!] A part of all you earn must be yours to keep. Put aside at least 10% of your earnings and make that money inaccessible for expenses. See this amount built over time and, in turn, it starts earning money on its own. Over an even longer time, it would grow into a lot, because of the power of compound interest. 17J. Canfield 2005: The Success Principles </li><li> 18. Build your fortunes by paying you first Your fortune must initially be built on the solid bedrock of a long-term investment plan. The earlier you start, the more quickly you can build your safety net of million dollars. Sit down with a financial planner, or go to one of the sites on the Internet where you can enter the amount of your current net worth and your financial goals for retirement, and then calculate how much you need to save and invest from this point forward to make your goal amount by the time you retire. 18J. Canfield 2005: The Success Principles </li><li> 19. The idea of compound interest Time is your friend when it comes to compound interest. The sooner you start saving, the greater the result the longer you have for compounding interest. Make saving and investing a priority Invest just 10% or 15% of your income, then live on what is left. It will (1) force you to start building your fortune and (2) if you still want to buy more or do more, it will force you to find ways to earn more money to afford it. Never dip into your savings to fund your bigger lifestyle. You want your investment to grow to be truly financially independent. 19J. Canfield 2005: The Success Principles </li><li> 20. The 50/50 Law Never spend more than you save. Put 50% of every dollar you earn into saving. The key is that you dont raise your lifestyle until youve earned the right to raise it by putting the same amount into savings. It is a core strategy for building wealth. Millionaire doesnt mean celebrity The truth is that 99% of millionaires are hardworking, methodical savers and investors. They make their fortune in one of three ways: (1) from entrepreneurship (75%); (2)as an executive at a major corporation (10%); or as a (3) professional practitioner (doctor, lawyer, dentist, certified public accountant, architect) (10%); (4) through sales and sales consulting (5%) 20J. Canfield 2005: The Success Principles </li><li> 21. Most of U.S. millionaires are regular folks who worked hard, lived within their budgets, saved 10% to 20% of all their income, and invested it back into their business, real estate, and the stock market. Learn the discipline of saving and investing and start early enough. How to become an automatic Millionaire The simplest way to implement the pay yourself first plan is to have a plan that is totally automatic Set up a percentage of your paycheck which is automatically deducted and invested as you direct it. You wont have to exercise self-discipline, it doesnt depend on your mood swings, household emergencies Make a commitment once and its a done deal. 21J. Canfield 2005: The Success Principles </li><li> 22. Build assets rather than liabilities Rule One. You must know the difference between an asset and a liability and buy assets. An asset is something that puts money in your pocket. A liability is something that takes money out of your pocket. [Robert T. Kiyosaki. Coauthor of Rich Dad, Poor Dad] Take a look at how wealthy people approach their investments. They take the money they earn and invest a large portion of it in income-producing assets real estate, small business, stocks, bonds, gold, and so on: Your income: 20% assets &amp; multiple streams of income, 80% expenses &amp; liabilities Goal: build more assets &amp; multiple streams of income Eventually, you can live off the income from your assets and your multiple streams of income. Thats true financial freedom 22J. Canfield 2005: The Success Principles </li><li> 23. Financial advisor As your money begins to grow, youll want to educate yourself further about the best way to invest your money. Find a good financial advisor. Ask successful friends whom they recommend. Go for more information on how to pick a financial advisor at www.finishrich.com Protect what is yours with insurance Mistakes and accidents can always occur. Its important to protect your financial assets through a good insurance policy. This is even more important if you operate a small business. If you are getting married get a prenuptial agreement it can be a very clarifying personal growth experience for both partners. 23J. Canfield 2005: The Success Principles </li><li> 24. Too many people spend money they havent earned, to buy things they dont want, to impress people they dont like. [Will Rogers. Actor, and writer] Spend less money Spending too much can wreck havoc with your financial goal. It keeps you in dept, prevents you from saving as much as you could, and turns your focus to consumption, rather than to wealth creation and accumulation Gather it all together in one place you spent money on last year but didnt use in the last year. Then add up the price you paid for each and every item. You probably never really needed all those things in the first place. The total will be more than your current dept. 24J. Canfield 2005: The Success Principles </li><li> 25. Start paying cash It makes you think about what you are buying. Every potential purchase will be considered more carefully, necessary incidentals will become less necessary, and large purchases will probably be put off. Reduce the cost of your rich lifestyle Live the lifestyle you want yet pay a whole less for it. Make a few simple changes in the way you spend and buy. Sit at the balcony in the opera house, buy your convertible in January, buy designer fashion at the consignment store, ask for discounts, call four or five vendors and take bids for the same identical items, or shop at ultra-budget stores. 25J. Canfield 2005: The Success Principles </li><li> 26. Take steps now to become dept free Stop paying high (credit card) interest rates and assume a less consumptive lifestyle. Take steps now to start living life dept free using these strategies: 1. Stop borrowing money. 2. Dont get a home equity loan to pay off credit card dept. 3. Pay off your smallest debts first....</li></ol>