|
|
| www.1001TopWords.com |
|
|
Can You Be Rich? Part 1
What does becoming rich mean to you? Is it early retirement? Perhaps it is the big house and the fancy car. Do you want the personal freedom that comes with being wealthy? Knowing you could go anywhere in the world you wish at anytime. Imagine knowing that your children and even your grandchildren will be taken care of financially after you are gone. Becoming rich is not a birthright or a random act of chance, it is a choice. So the question is, do you choose to be rich? What is the definition of wealthy? It is not someone who makes a lot of money. A doctor with a six figure salary could still be considered poor if he/she spends every cent they make. The true definition of wealth is someone who makes enough money to live without having to work. That is, their monthly passive income is greater then their monthly expenses. So what is passive income? Passive income is essentially money you earn that did not require your constant presence to do so. If you stopped showing up to your job you would no longer earn a paycheque. A passive income opportunity may take time initially to set up. However, if done right you will be earning passive income even as you sleep. This is also known as residual income, or leveraged income. A good example is a home that you rent out to a tenant. Once you have bought the property and set up the systems of management there is very little for you to do except collect the money from your bank account. Another example would be financial instuments that pay you a monthly yeild, such as a bond, a dividend or a distrubution. These are but just a few examples. The wonderful thing about passive income is you no longer have to trade your time for money. If you choose to be rich then passive income will be your investment of choice. Try this exercise to calculate your personal wealth ratio. Add up all passive income you have earned over the past month. For this exercise do not include paper assets such as stocks and bonds. Divide your monthly passive income by your monthly expenses to get your wealth ratio. If that number is one or higher, you can consider yourself wealthy. For example: $200 (passive income) / $2000 (monthly expenses) = 0.1 (wealth ratio)parThis individual has enough passive income to cover 10% of their monthly expenses. Those that choose to be rich make it their goal to achieve a high wealth ratio. We're just a couple guys you want to educate people, like we've been educated, to help them become financially free.Learn more about us at http://www.choose-to-be-rich.com
|
|
|
|
RELATED ARTICLES
Who Wants To Be A Millionaire? Steve Martin once delivered an opening monologue for Saturday Night Live in which he answered the age-old question "How can I be a millionaire?" His answer was fairly simple and straightforward, "First? get a million dollars." If at this point you can't help but feel that Mr. Martin performed an extraordinary feet of oversimplification that night, then I urge you to read on, and hopefully, by the time you finish this essay, you'll be convinced that becoming a millionaire isn't nearly as difficult as everyone makes it out to be. Through a simple three-step process which I will lay out clearly, the keys to the millionaire's club will be shown to be available to anyone willing to merely reach out and grab them. Understanding the Three Different Types of Income Part of learning to become financially free is to begin to understand that there are three different types of income. They are: capital gains, passive income, and earned income. They are the three types of ways to make money, and are very easy to understand. Five Straight Steps to Opening an Offshore Bank Account Despite what you may have read or heard, anyone is free to open an offshore bank account nowadays! In fact, banking offshore has been used successfully for tax reduction and asset protection by both individuals and worldwide organisations for decades. Business After The Iraqi War The rewarding of high compensation packages to top executives who turned over weak quarterly earnings, or who were involved in corporate scandals, adversely affected short-term investing, and collectively contributed to the downturn of the global economy over the last couple of years. Even the help and expertise of Federal Reserve Chairman Alan Greenspan and several notable Nobel Prize winning economists in the President's Council of Economic Advisers, wasn't enough to revive the economy. September 11 then turned our attention towards terrorist threats against the markets. Financial Freedom for Every Employee You may think you have to be an entrepreneur to achieve your goal of financial freedom, but that is not necessarily true. While it is true that owning your own business is an excellent way to generate passive income, financial freedom is not entirely dependent on business ownership. Increasing Your Wealth by Increasing Your Financial Literacy Perhaps the primary message of Rich Dad, Poor Dad is increasing basic financial literacy. Perhaps I should say financial literacy for the common man and woman. The reason I say this is because the principles taught in the book are very simple--the fundamental personal finance. Some people may even say the what Kiyosaki teaches is dangerously simplistic. Building Wealth: Its An Inside Job ? Part 1 Whenever we read about building wealth or even attend a seminar for that purpose, we usually begin by assessing our present financial status. We're asked to calculate our assets and liabilities followed by a determination of where we'd like to be in a certain period of time. Being armed with this data along with assessing our present earning and saving power, we then set out to structure our financial goals. Although we try to be realistic, we still want to stretch ourselves a little bit ? after all, that's one of the purposes of setting goals, isn't it? To achieve more than we normally would if we didn't have goals in the first place. And also, goals are supposed to give us direction. Have You Ever Had That Feeling? Have you ever had that feeling where you could not wait to go to sleep because you were so anxious about tomorrow? You were so excited and your heart was beating so fast that as much as you tried you could not go to sleep? So you just lay in bed imagining what you would do the next day. Imagine that you were thinking about what you would do with the money you've made that day and how much more you will make tomorrow. Have you ever had that feeling? High Flying Market Makes Good Buys Hard to Find AS THE MARKET FLIES HIGHER, GOOD BUYS ARE BECOMING HARDER AND HARDER TO FIND. Cost Averaging - It Makes Sense (Dollars & Cents) It's no secret that the market goes UP...the market,goes DOWN. That's the basics of Investing 101. Dont Leave Your Financial Success To Chance Recently I was reading a book called The Millionaire Mind. The book offers an intriguing look into the minds of those that have attained over one million dollars in net worth (there's far more to it then this, but I won't get that in depth for the purposes of this commentary)... How To Get Investors And Bankers To Part With Their Money For Your Business Time and time again entrepreneurs are losing out on getting the capital they need because of making basic mistakes in their pitch. It's great to have a magic product and tons of enthusiasm, but it's not enough. Follow these five rules and see your success rate climb. Thought Creates Reality Even When It Comes To Money What if I told you that reading a book would also change the way you react to the demands that rest upon your shoulders by the system of money you live under. Would you click HERE to learn more about that new way of perceiving your own money situation that would change everything for you especially where money is concerned? The 11 Best Money Saving Ideas of All Time - Part 3 At any time in history, no matter what the current state of the economy, no matter what the current trends, no matter what the unemployment rate is or where interest rates lurk, some money-saving ideas stay true. Top 10 Secrets of Getting Rich! As many people have observed, "Success leaves clues." If you want to achieve extraordinary success in the coming year, study the experts, do what they do, and modify their techniques to suit your particular situation. It's easy! Prosperity An ellipsis to your success is hidden in the word prosperity. Take a letter; make a word; assign a meaning, discover a pathway to your prosperity. You might be tempted to think of this as a simple word game. Remember that to play is to use both halves of your brain. Money Mastery Money can be your servant or it can be your master. The choice is yours to make. If you want to be the master in this relationship, you must learn to assert your control. The Making Money Obsession - Discover The Real Truth In most societies, we are raised to believe in the myth that "it's spiritual to be poor". Or we use such phrases as "filthy rich", or "Money is the root of all evil". Our TV and movies present the big businesses as the "bad guys", and programs our minds to believe that being rich is "bad". What it Means to be Rich Many people have a false understanding of what it actually means to be rich. If you were to ask a stranger what makes a person rich, he or she would say "A person is rich if they have a lot of money and can buy whatever they want!". But that isn't what it means to be rich. This is what it means when a person is rich: The person's assets create enough cashflow every month, to cover his or her expenses. So basically being rich means that whether you work or not, money will still be flowing into your pockets. How Much Do You Need To Earn Per Hour To Achieve Your Yearly Financial Goals Have you ever asked yourself what your highest income producing activity is?
|
| © Athifea Distribution LLC - 2013 |
