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Home Budgeting Debt Free 401(k) & Mutual Funds Home Buying Compounding Interest 101 Saving Money Resources Blog |
Now that you have decided to whole heartedly change your financial life around, grab hold of the tools that we'll provide you and get to work! Remember that you hold the key to your financial future.
Another way to
maintain the
mentality of wealth is to read books or listen to audio
programs that help create
positive emotion and mental
motivation to keep you on track for success. Some of
my favorites are:
Automatic Millionaire by David Bach David Bach was once a financial adviser who lived like most of us do. He made a very decent income but lived almost paycheck to paycheck. He was like some of his clients who looked wealthy at face value, but on paper, was barely making enough money to keep up with expenses. Then one day a couple came by his office and changed his life. They were ready to retire and worth millions of dollars. The catch is, they were not earning that much income. In fact, David was amused by their desire to retire so early. He was making much more money than they were. But then he asked them how they got to where they were and that, my friend, is the most valuable lesson of The Automatic Millionaire. Multiple Streams of Income by Robert Allen Robert Allen does an amazing job of detailing step-by-step instructions on how to create additional streams of income aside from your normal job. He details so many ideas that you can easily find a few that can fit with your preference. If you do not currently have income streams flowing into your life, you definitely will need to get this book! Before reading this book, I thought that passive income was a fantasy that only the wealthy knew how to create. Now I know of countless ways to create passive income. This book cause me to have a passive income mentality that keeps me constantly focused on creating additional streams of income. Million Dollar Habits by Brian Tracy Automatic Wealth By Michael Masterson
I
read this book on
a road trip and I could not put it down. Michael provides
simple
straight forward advise on how to become a wealthy person. He
also does a thorough job of detailing several ways to develop your
wealth. He details everything from getting a huge increase at
your job to creating a small business to investing in real estate.
He even gives insight on investing in small businesses.
Most people who reviewed this fantastic book on Amazon.com
rated
the book a five. Here is an excerpt of a review of Automatic
Wealth.
"What I love about Michael Masterson's book is he tells the average person that if you truly want to be financially rich, the first thing you're going to have to do is raise your income, and then he shows the reader actual, specific steps to do just that! By increasing your income and creating little side businesses that generate income streams, the goal is to get the reader to $150k a year and beyond. And he shows you how to do it! Then once a person is making that kind of money they can start investing it. Michael shows you the best way to do that as well." The Four Hour Work Week by Tim Ferris This book is absolutely fabulous! Tim provides valuable insight on how to gain more time by making your income generation a more passive process. Tim was able to free up his time and earn more income by designing his life. The Four Hour Work Week has over 600 reveiws on Amazon.com and averages 4.5 stars. Need I say more? Become a Student of Wealth You should make it a point to learn as much as you possibly can from those who have become successful and wealthy. These individuals have made it a point to develop foundational behaviors that attract money. If they lose all of their wealth, and some of them have, they will undoubtedly be able to recreate that wealth over again. Compare that with the lottery winners who are given loads of money and lose most, if not all, in a period of time. I was at a seminar once listening to a very wealthy speaker. During his divorce, the judge ordered him to give up most of his fortune to his wife because the judge felt that he could easily earn all of the money back and more. The judge was right. He earned all of it back within a short period of time because it was in his nature to build wealth by his fundamental habits. As you read the stories of these individuals, you'll probably notice that they spent hours learning about what other wealthy people did to get where they were. Once they observed the commonalities, they immediately put those techniques into practice. Wealthy people love to learn from other wealthy people. People who have great wealth understand that achieving wealth is similar to preparing a recipe. If we complete the steps necessary, we can achieve similar results. The more you seek to learn from those who have succeeded, the more you will begin to emulate their actions. Most importantly, you will begin to think as they think. You will seek opportunities that you would not have thought of before. Your income, which is now your largest asset, will not be used only to spend at your local retailer. Your income will be put to work to create wealth for you and your family. |
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