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Sunday, 28 February 2010

How to One Day Be Rich

Ever driven a sports car? Well, if you have, then you'll know that money can buy happiness. Today in this modern world, it's everyone's dream to become rich, but it won't happen instantly. So the best thing to do would be to start thinking about how you're going to get rich now.


1. Start saving! If you save $5 a week then in a year you will have $260 saved up, which you can use later to help you become more wealthy.

2. Get a good education! Would Bill Gates of invented Microsoft if he didn't have a good education? Well, the short answer is no. Getting a good high school and college education is one of the most important things you'll need to one day become rich.

3. Learn about investing! If you start learning about investments when your 11 or 12, then by the time you're 18 you'll know how everything works, And you can then start investing

4. Invest! Once you have learned how to invest, you'll be good to go. Start investing little amounts of money as young as possible. For example, invest $100 in KFC when you are 18, and by the time you are 28, that $100 might be worth $1000!


- Ask for help from people who know about investing or have invested before. But don't believe everything that someone who will make money off you tells you, they will probably just be bluffing.

- You can get cheap investments in things when the markets are down, because people will want to sell their shares in case they lose all of their money, when most likely, the market will get even better than it was before in a couple of months.

- Don't forget the people who helped you become rich, as you may one day need them. Buy gifts for these people and stay in contact with them.

- Don't let boyfriends/girlfriends get in the way of you becoming rich. If you need to sit by yourself every recess and lunch for your high school life studying, then so be it. Just remember that high school's only for 5 or 6 years, and being rich is for a lifetime. Mutual funds are safer and cost as much as some stocks. A mutual fund is share in a lot of companies.


- Don't invest alot of money in things you don't know much about, as you are likely to loose your money.

- Don't invest too much money in one thing, spread your stocks out between different industries, so even if you loose all your invested stocks in one market, you'll still be making money from all of your other markets.

Source: wikihow.com

Friday, 26 February 2010

The Easiest Way to Get Rich

Step 1: Get a well-paid job
This is a reasonable amount of work, and takes a few years, but it's a virtually guaranteed way to make a good income. If they're willing to put in the work, almost any intelligent person can get a job paying $100,000 or more within the space of a few years. While it's not easy, it is by far the easiest and most likely way to secure a good income. In fact, I've already written an entire article on how to get a job paying more than $100,000 a year for those who wish to pursue this avenue.

Step 2: Get good tax advice
However you make your money, your number one expense is likely to be funding the government. In most developed countries, the average worker pays around 30% of everything they earn straight into the taxman's pocket. If you've taken my job advice, you'll most likely pay even more than that.

While taxation is necessary to fund the good things governments provide, you don't do yourself any favors by paying more than your fair share. If you're serious about building wealth, get a good accountant who understands how to legally minimize your tax bill.

Step 3: Save 20% of everything you ever earn
As soon as you get paid, arrange to have 20% of your income removed into a savings account. Many banks can do this automatically for you. Keep your savings account separate from your spending account, and you'll barely miss this money.

There's a saying in economics "expenses rise to meet income". This means money that's easily available to you is certain to be spent. That's why most people's paychecks disappear before their next payday. They get used to having a certain amount to spend, and habitually run down their bank account. 

Have your savings moved somewhere it's a hassle to get them out of to avoid this risk. Many high interest accounts require you to give them a few days notice, which is ideal for this purpose.

Step 4: Conservatively invest the funds that build up in your savings account
Once a month, go into your savings account and divide the money by investing it into the three core conservative assets: shares, property and cash. Open a mutual fund account for shares, a property fund for property, and a money market fund for cash. Look for share and property funds that invest in a broad range of assets and most importantly charge very low fees. An index fund is ideal for the shares. An index of property funds is ideal for property.

Put an equal amount into each account. This will diversify you against risk in any one particular asset. If you're younger, this rule is a little bit flexible, allowing you to take a little more risk and put more into shares and property if you like.

Step 5: Reinvest any income you get from your assets straight back into buying more assets
Mutual funds and property funds pay dividends. Money market accounts pay interest. Don't take this income into your spending account. Instead, select the option to have it reinvested into the fund that generated it.

Step 6: Never touch these funds and do your best to ignore them
The business press, like the mainstream press, loves a crisis. "Shares to skyrocket" or "Property to plummet" headlines will sell many more copies than "Things to continue steadily". All markets go up and down. Every day, some speculation will be published about some crisis or opportunity. 

Ignore it all.

Just keep putting the 20% into your assets. Sometimes they'll go up and sometimes they'll go down in value. But over the long term, they'll almost certainly go up.

Step 7: Wait a decade
Do what I've outlined above and in a decade you'll be rich. Sure, you won't be Bill Gates, but you'll almost certainly be in the top 20% of wealth holders. Wait another decade and you'll be in the top 5% or higher. 

That's the plan. It's not the most exciting or glamourous way to build wealth, but it's the easiest. Quite simply, this is how most rich people got there.

You too can join them, if you follow it.

Source: www.paulstips.com

Success Secrets - Success Mindset: The Million Dollar Secret in Your Mind Can Change Your Life

Just forget everything you've learned about business and marketing! It just doesn't matter! It's not about your skills or marketing strategy, it's all about your Money Blueprint. T. Harv Eker states: "Give me five minutes, and I can predict your financial future for the rest of your life!" He claims that you can have all the knowledge and skills in the world, but if your "Money blueprint" isn't set for success, you're financially doomed. We all have a personal money blueprint ingrained in our subconscious minds, and it is this blueprint, more than anything, that will determine our financial lives. Thus you can know everything about marketing and sales, but if your money blueprint is not set for a high level of success, you will never have a lot of money. And even if you somehow do, you will most likely lose it! The good news is that you can actually reset your money blueprint to create natural and automatic success.Jamie McIntire claims that the right mindset represents 80% of success, our skills and marketing strategies provide only 20%. Therefore we may presume that if we neglect the right mindset, we shall be held back from financial succcess.

The goal of this Squidoo Lens is to share winning strategies of millionaires, and help you to achieve your goals. I hope that these success secrets will help you to achieve financial independence faster and easier than you ever thought possible.and help you to set your Money Blueprint for high level of success!

This Squidoo lens is about...
- how we can change our money blueprint;
- how fears, doubts and worries are blocking us to thinking clearly and finding solutions to our problems;
- how blaiming other people and outer circumstances are destroying our financial future;
- how our thoughts are influencing outcomes - the results we get;
- how working hard and making money has nothing to do with each other;
- how we can create and maintain wealth with the strategies of the rich people.

I also share my own personal experience in this field and I hope that you will share yours!
Good luck with your New Millionaire Mindset!
Rachel Richmond