We all want to have enough money to be happy from today until the day we leave this earth. Enough, is a carefully used word. For some people, enough is the amount of money it takes to just have what is needed, for others it means being wealthy and making a LOT of money.
Becoming wealthy requires a huge change of thought. There are some simple tips to follow if making money and becoming wealthy are a priority in your life.
Thinking differently about money. Money is not something that should come and go in your life. When trying to become wealthy, it is important to save at least some of every dollar you earn. Saving this money will allow it to grow and thus increase your wealth.
Think small. The smaller you think in regards to saving money the better. Very small amounts of savings here and there will go unnoticed in the house money needed to survive. But, those amounts will add up and add up quick.
Buy your freedom. The money you need to become wealthy will not appear out of thin air. You will need to buy your freedom by saving money on those extras you really do not need. The $20.00 spent here for a trinket or that $40.00 you spend there for something else are the monies that can move you from independent to independently wealthy.
You are the one. The only person that can be held accountable for your financial placement in life is YOU! You are the one that needs to make making and save money, no one else.
Buy stock. One of the main aspects of becoming wealthy is making your money work for you. The only way to do that is to buy stock in the company. So the next time you want to spend that $100 on dinner, step back and buy a share of stock in the controlling company of the restaurant.
Look at the success of others. In order to best learn how to become wealthy, you will need to look to the successes of those who have accomplished the goal. This does not mean looking toward the celebrities, but the every day Joe’s who have earned more and saved more.
If your goal in life is to become wealthy, you can achieve that goal. All it takes is time, saving, investing, learning and more saving. Then, if you have a little more time lying around, you can save a little more.
By: Elliott Roberts
Posts Tagged ‘Amount Of Money’
How to Make Money and Become Wealthy
February 14th, 2010Retirement Money – I Need How Much?
February 7th, 2010
I’ve often said that I’m never going to tell you how much money you need in order to retire. Everyone continues to ask until they read my retirement plan. So here is a brief explanation of why no one really knows how much it costs to retire.
Someone just told me that a baby boomer couple retiring right now needs a two million dollar nest egg in order to maintain a decent lifestyle for their remaining years. A two million dollar investment returning 6% annually, before taxes, yields $120,000 per year! For most of us, that sounds like a great income, right? So what’s the catch?
Good News, Bad News
If you are 40 years old right now or even 50, you could easily live another 50 years. With luck, money and advances in modern medicine, you might be leading an active life 60-70 years from now. What do you think that $120k income is going to look like 70 years from now? (Think of today’s prices compared to those of 1938.) So even if you only used a portion of that income in the beginning, you are going to be dirt poor in your final years.
Lifestyle
And what is a “decent” lifestyle? People used to say that you would spend less after you retire. But we are Baby Boomers; spending less is against our nature. We want to travel, buy expensive vehicles, have the latest gadgets, spoil our grandchildren and of course, pay for our outrageous healthcare costs. To me, that doesn’t translate to a spending cut. Only you can decide what kind of retirement lifestyle you would like to have but even the basic food, clothing, shelter and healthcare costs are just going to keep rising.
So How Much Already?
Luckily for us, the statisticians, mathematicians, actuaries and entrepreneurs have come up with many “calculators” to determine the amount of money we will need enjoy our second adult life. You can find many of them by doing a search for “retirement calculator”. My search listed over 750,000 sites but just try two of the top ten. Go ahead, try it.
What do you think of the figure you came up with on the calculators? Even not knowing the exact amount, I’m afraid I’d have to say, “it is not enough.” If you are satisfied with having a specific figure, great, now you have it. However, Why not just make so much money that you never have to wonder again if you can afford that trip or that car or that vacation home?
What is the Solution?
Anyone reading these words knows how to make money. More than likely, you have made a significant amount of it in the last 20-30 years. Most of that was probably trading your time for a paycheck. So no matter how good you are, there was a limit to how much money you could earn. Some people enjoy making money almost as much as spending it. Money (or lack of money) has probably caused you significant pain and suffering at some point in your life. No matter how you feel about money, it is a fact that to enjoy your second adult life, you will need money and lots of it. I think Mae West said, “I’ve been rich and I’ve been poor; rich is better.” Having money will allow you to live a longer, healthier, happier life. “Earning” money by trading your time for a paycheck will never give you this happiness because you are losing your most precious asset, your time.
Now maybe you have made wise investments in dividend producing securities or own a production oil well or hold patents or songs or movies that pay you royalties. Now we are talking about “passive income.” This is the “smart” money that comes into your bank account whether you are on vacation, sleeping, working or playing with your grandkids. Why not just put forth the effort now to make sure you have a very comfortable life and never worry about money again? Every second of your life is precious because time is a non-renewable resource. Don’t waste it on unnecessary worry or work-hours traded for a paycheck. I think the easiest way to do this is by creating your own Internet marketing business. Once it is set up and starts bringing in a constant flow of passive income, you just monitor it and add to it as your needs change.
Conclusion
If you have a couple of million dollars in the bank and want to quit working, go ahead and take the chance. But if you are willing to work, building your own business in order to guarantee financial freedom in your retirement years, start TODAY. I think it is the smart person’s choice.
By: Rick Perkins
Ways to Make Money While in College
January 30th, 2010
Two things go hand in hand, college students and empty wallets. A full load of courses leave little time for full time employment, which is why most college students are broke. Some students donate blood; some deliver pizzas, some sell burgers, but jobs such as those don’t offer much in the way of pay. There are ways to make money in college, much more than you would make at your average part time job, and you could still have time for your education. What is this amazing solution? It is quite easy, work online.
I know what you’re thinking; I am not falling for that again. It is true that there are thousands of schemes out there just waiting for people who are willing to pay to make a profit. Usually these scams don’t require a large amount of money. They don’t need to. They can easily get 5,000 people to pay one hundred dollars, for their “top secret money making tips,” than they have just earned $500,000.00. But don’t get discouraged there are real ways to make money in college using your computer, and they don’t have to cost you one pretty penny.
There is a company called ClickBank that offers individuals the chance to work for them marketing eBooks. These affiliates earn a commission for every book or subscription they sell. These commissions can range from 1% to 75% of the sale price. If you can figure out how to start a website, trust me anyone can do it, then you have a way to make money in college.
Becoming a ClickBank affiliate is really very simple. The entire process takes less than five minutes and yes, it is true it is absolutely free. When I first heard about this, I figured it was like most of the other “easy” ways to make money online. My curiosity was peaked when I realized that I wouldn’t have to spend anything to become an affiliate.
I began to wonder how ClickBank could offer such a good deal, but then I did a little research. Publishers pay ClickBank to list their publications, and it’s the publishers who pay the affiliates, ClickBank merely puts the product in the marketer (affiliates) hand. Actually, that’s not true; you don’t even have to get the product the consumer, Clickbank takes care of that too.
As an affiliate, all you really have to do is sign up with ClickBank Set up a site to do your marketing. Create a hoplink between your sites product display and the ClickBank site. Then spend your commission. Being an affiliate is one of the simple ways to make money in college. Stop eating Ramen!
By: Robert Dant
