I want to share an article/video with you, but not before sharing a few notes of my own, because that is what I am here for! I never take anything for what it is. I am an analyst, so I tend to pick things apart only to put them together again in a way that creates a clearer message for myself.
Here are a few items that I've learned as I continue to pursue my first MILLION, that have kept me as I jump from tax bracket to tax bracket:
[one]FOLLOW THE MONEY BUT DON'T BE BLINDED BY IT:
The only thing worse than being undercompensated for the work you LOVE to do, is being overcompensated for the work that you HATE to do!
Why do I say that?
Because on one hand you want to follow your dreams, but you don't want to let your dreams create a poor man/woman of you.
On the other side of the poor, starving artist, though, is the angry, fat business man. And it makes it very difficult for the angry, fat businessman to leave the job that makes him angry and stresses him to no end, when he knows that he is making way more than he should. Money should be a motivator, but it shouldn't be THE motivator.
It's tough to leave a position that pays us well, especially with the job market the way that it is, but if you find that money is the only thing keeping you in a certain situation, it is time to reevaluate your options.
Take time to figure out WHO you are and WHAT you want before you begin this journey, then check in with yourself at each milestone to see if you are still that same person with those same goals.
You WILL change; your priorities WILL change.
Stay in tune with self. Check this post out to start --> [X]
SAVE BEFORE YOU "STUNT": A nice car, and a big house may attract great compliments from friends, and even make you more attractive to the opposite sex. HOWEVER, what good is having such "things" if you truly cannot afford them? Notice I said AFFORD them not BUY them. Just because you can BUY something does not mean you can AFFORD it.
Build your legacy, stack your money, and then splurge on the things you've been dreaming of!
Reward yourself for reaching certain milestones. This will ensure that you won't get lost in the spending, and that you will keep your goals at the forefront of your mind.
Besides, you look much better in that new Aston Martin than that Mercedes coupe anyway.
(And you don't want to be one of those people who can't get their A/C fixed, becasue they have to keep up with the payments for their rims.)
You can wait a couple years! :-)
PUT YOUR MONEY TO WORK!
Putting your money into savings, is the fool's way of getting rich.
It will NEVER happen.
If your goal is not in the thousands but in the millions, you will have to use riskier ways of growing your money.
This includes investing! Do your research first!
You might start with one of my earlier posts concerning the markets--> [Bull vs Bear]
USE DEBT AS LEVERAGE!
Only allow debt that will increase your income later on.
Sit down and make a list... How does your assets list compare to your liabilities list? How many of these liabilities are DIRECTLY related to income-generating activities?
For example, many people see a mortgage as an asset. In most cases, this couldn't be further from the truth.
Most people are not making the money out of their homes to validate the idea of their homes being assets instead of liabilities. Let us help you sort it out. . .
HARD WORK TRUMPS INTELLECT!
The harsh reality of life (and one of the most difficult pills I had swallowing), is that it the smartest person doesn't always in. *insert exasperated sigh here*
The most loyal person doesn't always win. *insert horrified gasp here*
The most dependable doesn't always win.
The most honest person doesn't always win.
The most talented person even doesn't always win! *insert a big "WTF" here*
I know..I know...
It is sometimes the babbling fool who is willing to work harder and longer than you that wins.
One of my favorite quotes comes from the movie BLOW: "I smile knowing that my ambition far exceeded my talent." -George Jung.
Summed up in three words: Work hard! Period.
Scroll up and revisit the first paragraph.
Never let your mind be tricked into thinking that "poor" or "middle class" is somehow okay.
Not if your goal is to be a millionaire.
For some people, it may be okay, but FOR YOU...NAH! You've got bigger dreams!
I call it the "Pinky and the Brain theory". Everyday we are working toward the same goal: to take over the world.
GET A MENTOR AND BE A MENTOR!
But not just any mentor... A MILLIONAIRE mentor. Where do you find them? Start in your own neighborhood. Get outside of your comfort zone. Network. Meet as many people as you can. But don't just "meet" these people, develop relationships with them. Do things for them. Be nice to them. Invite them out. Show them that you are trustworthy and wish to learn from them.
The good thing about social networking, is that a lot of these prominent people are a lot easier to reach than they once were.
Don't only reach out to others for knowledge, but also share your own knowledge along the way.
Pay it forward AND give it back.
This way, just like you are able to build off of the success of someone prominent, someone else is able to use you to catapult themselves as well. It is also just another way to show appreciation. To show you haven't forgotten that poor, lost kid that you once were! This was the reason I started my student group, to give back, and to teach those younger than me, so that they would have the head start that I didn't but wish I did.
Mentoring and being mentored also helps to expand your network. It can help you advance your career, or it could bring you future business partners and associates. Also consider hiring interns if you have your own business.
Not a people person? Check this article out, and become a Charismatic Master! -> [X]
I hate to see people reach a certain level and then act like they are too good to fraternize with anyone at a lower level. Never be that person. Be humble. Be successful. Be blessed.
If you are looking to MASTERMIND your life, reach out to us. It doesn't cost a penny to have a conversation! :-)
Oh, and here is the article/video I was referencing in the first paragraph: [x]
Thanks for reading.