Let's get started. Let's talk about being successfully wealthy and being wealthy. There's a difference. Successfully wealthy means you've done something ethically to earn the wealth, just being wealthy could have come from an inheritance, selling drugs or racketeering ... this wealth is not idolized by most.
Smith & Barney wrote: "The president of my alma mater just called me for a big donation. He's the same guy who wanted to expel me 20 years ago".
Everyone can in their own mind conjure up an idea of what "success and wealthy" would be:
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Is it a big house-no mortgage payment... A new car-BMW, Jag, Hummer, or Lexis... Being debt free... Owning your own business... Being your own boss... Working from home.... All your children are finished with college, married and it's all paid for.... Traveling, owning your own timeshare.... A long lasting relationship/marriage... Whatever your idea of success is it is connected to wealth in some manner.
Take a moment and dream...dream Big! A very smart man, Harland Stonecipher, founder of Prepaid Legal services once said, "Dream Big! With dreams there are no limitations, no age restrictions, no size restrictions, no educational requirements, and there's no down payment to dream." So dream as big as you want to!
I have a friend whose dream was to own a US coast guard ship. He planned, and he re-planned until he owned a ship. He was able to purchase this ship through military surplus for far less than what it's actual worth is.
So take a few moments and dream...Dream Big. List at least 10 things on your dream list you would like to accomplish in the next 24 months, then add another 10 to be accomplished over the next 5 years...and what the heck go ahead an add 5 more for your lifetime!
This is your list; they are your personal dreams. You may choose to share them with someone, a good friend, partner, spouse, lover or you may choose not to share them. One thing is for sure a dream is just a dream until you write it down, once you have written it down it now becomes a reality, you need to accomplish. Sometimes sharing these dreams with someone gives you a stronger commitment to fulfill them and hopefully a cheerleader (male or female) on the sidelines.
Once you have written your dreams down, take a few minutes to ponder each one. Envision your self accomplishing each dream or goal. It is the vision of seeing yourself accomplishing the dream that enables you to stay focused. This is your list; it is yours to keep with you, save it in a purse, in a wallet, read the list frequently to verify accomplishments. Stay focused.
As you accomplish each one cross it off, and add a new one. One can never have too many dreams. To stop dreaming would be to shrivel up and wither away. Stay alive with your dreams!
You will need a plan to obtain your dreams, so let's work on a plan. We have the dream, now we need the plan.
Let's talk about funding those dreams, how do you want to go about it?
Do you have one of those fabulous 9-5 jobs you love, or one you'd love to shove!
I am currently working with a young couple in their early 40's. Their income is approx. $260,000.00 a year, loads of benefits. Yet their dream is to have their own business, a franchise, so they can leave their day jobs. They want their own business and more time to spend with their family.
Are you anticipating an inheritance?
59% of working wealth know they will receive an inheritance. 37% expect it to be at least 1 million dollars based on data collected by Smith & Barney*, as part of an online research study. The study showed 504 individuals reporting assets (investable) of at least 1 million dollars.
If you have a professional practice this is different than most, your plans & goals may be different.
I recently had a brief encounter with a young woman whose husband is a doctor. She purchases land, and then develops the land to keep herself occupied. She was bored. Her income surpasses her husbands at times...
If you already are a successful business owner, than your plans and goals will be different...
I have a friend who is retired from owning a very successful insurance company, but isn't ready to stop creating wealth. He found a great company that allows him to work from home offering businesses loans based on their credit card volume...unique!
22% of working wealth plan on starting a second business. 32% would need a loan to pay for it. *
If you have been downsized, reorganized, given an early retirement or are "retired" your plan will be different.
What about the working mom, or the stay at home mom - your plan and goals will be different.
I have worked with many working moms, some single parent working moms, and dads. They have more challenges with time.
I have a friend who chose to start her own company by working from home as a processor in the mortgage business. She is awesome and is one of the best processors I have ever worked with over my 17 years of experience. She chose her own path that worked for her as a single mom raising two children.
It is my goal to guide you to obtain your dreams.
We have courses to help you grow in many different arenas. Let's look at some statistics for wealth building...
Single Parent Families:
Single parent families more than doubled in the past 25 years. With about half of all marriages ending in divorce today, over 16 million children are living in a single parent home. (Metlife)
The Census Bureau estimates that 59 percent of the children in the U.S. will spend time living in a single parent home.
Home-based Business:
Statistically, there are nearly 42,000,000 home-based businesses in the U.S. That number is constantly increasing and does not take into account home-based employees.
According to IDC, a top national research firm, there are between 34.3 million and 36.6 million home office households in the U.S. alone. These include income generating home offices (18.8 million to 20.3 million) with the rest being made up of corporate telecommuter households.
Home-based business represents 52 percent of all small firms and provides 10% of the total receipts of the economy, about $314 billion. The same study showed that the average income for income generating home offices is $63,000.00
Entrepreneurship:
During 2006, nearly 20,000 entrepreneurs grossed more than $1 million operating from a home-based environment. "Many entrepreneurs start at home-and stay there, according to the SBA's Office of Advocacy.
Based on the above statistics many people are looking towards home-based businesses, opening small to mid sized companies, franchises and entrepreneurship.
Let's evaluate are own goals and options:
Working from home offers less travel, comfortable setting, no office politics... But can you say focused...it is very easy to get side tracked at home. Time management comes into play big time here. The laundry is calling me, the dog is so cute, I can make dinner now...
Negatives from working from home as an independent contractor or business owner might be that most often you would not have health benefits or they could be costly. Possible a working spouse could help this situation.
Many households find them selves in situations where a family member is affected by serious health issues. 28% of working wealth have a family member with a significant health problem. 27% don't have an estate plan. *
Today's Baby boomers are facing what I will call the new sandwich generation. They are being sandwiched in by children and aging parents. "My daughter just moved out, now my mother wants to move in!" is what some boomers are saying. 56% of working wealth are helping to financially support either their parents or children. 89% think they may need to do both! **
In today's current economic cycle we are seeing unemployment at its peak since the 1940's. Those are staggering numbers. But you can choose to sit on the sidelines and wait for life to change and favor you in some way, or you can take action now. Do something to help yourself.
Start your own business. If you aren't that entrepreneurial start a business as an independent contractor and follow a proven method, such a network marketing, sales or team building.
The SBA is touting the fact that money for existing businesses will be available.
You can be Proactive and start something new today or you can bury your head in the sand and wait for major changes to come upon you. Which do you perceive to be a better option; to do something and make a new statement in life? Start fresh, build your own, tell your success story, or to idle sit by and do nothing.
If you don't try you won't succeed that is a fact. You won't feel any pain, nervousness or feel the risk of trying; it will be easy to do nothing. Unemployment may run out, the long list of resumes unanswered may increase so why not take a chance. Take it today! Start a new career, take a class, find a business opportunity and act on it. That is the only sure fire way to change your circumstance today! You can do it. No one needs to call you, you make the call.
You can start today: Sign up for a new class (open positions in medical technology, tax planning, and direct marketing.
Search your heart and follow what sounds adventurous, and alluring to you. The more passion you have for your new endeavor the more successful you will be. An old adage I've seen work is the new person starting a new venture is so excited about it, that they don't know it's not going to work. They do what they are told to do, because they believe in the product or themselves it works for them. Because they didn't take the time to over analyze the directions or guidance they were given, they just did it. Sometimes just doing it is the best thing. Do it today!
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