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Lesson 2 - The Commodity Of Kings!
What is "The Commodity of Kings"
"Power is simply "the ability to act." Since ancient times, power has been the commodity of kings. Power originally came to those who were strongest physically. Later, it came to those who had a special heritage through royalty. More recently, it came to those who had the greatest wealth or capital. Today, those who possess specialized and valuable knowledge have the greatest capacity for power." Anthony Robbins - from his book Unlimited Power
Specialized and valuable knowledge.
In lesson 1, we learned that there are only two things that can prevent you from becoming wealthy. You don't know how, or you are unwilling to apply what you know. Today we will dive into reason number one.
Simply put, chances are, you were never taught how to become wealthy. Think for just a moment, what is it that separates you from the Donald Trumps of the world or for that matter any mega-wealthy person?
Is it time? No! we all have the same 24 hours in each day. As you will learn, how you spend your 24 hours will make all the difference however.
Is it a privileged background? Not at all. Remember rags to riches require rags to begin with.
Ah Ha! It must be education! Absolutely not! At least not in the traditional sense. When we think of education most of us think about going to school, graduating, possibly attending college or graduate school so we can graduate and get a good "JOB". Traditional education teaches us to become a productive part of the workforce, but in no way teaches us the basics of wealth! You may remember going to algebra class, or studying a foreign language, or history, or economics.
How many times have you gone to Wealth Building 101, or advanced personal financial success? Never we suspect, and if you happen to have attended classes you feel were teaching wealth building, doesn't it make sense that your instructors should have been wealthy? Were they?
Did you know that Fred Smith, founder of Federal Express, received a "D" on his term paper. The one that outlines the worlds first overnight package delivery service! AKA Fed_Ex
Avis of AVIS car rental, McDonald of McDonald's hamburgers, Colonel Sanders of Kentucky Fried Chicken, Lear of Lear Jets, Henry Ford, and Abraham Lincoln all have one thing in common - They never graduated HIGH SCHOOL!
So much for traditional education!
The fact is, the specialized and valuable knowledge of wealth building is self taught. The good news is it's simple to understand and enjoyable to learn, and if you apply that knowledge, you will begin to create wealth.
Welcome to your first day of class, wealth building 101.
How did the majority of people who are wealthy get that way?
If you knew you had a 74% chance of wining would you buy a lottery ticket? Millions of people line up each week to purchase lottery tickets for their chance to become wealthy. However, according to the U.S. department of Health and Welfare, less than 1% of all wealth in America was created by lottery winners.
What if you could Beat The Odds!
74% of all wealth in America was made just one way; by starting and owning your own business. If you own your own business, the chances of you becoming wealthy are 284% grater than any other way wealth is created. This includes all other methods of becoming wealthy, from Pro sports figures, to astute investors, to lottery winners! It makes absolute sense that if you goal is to become wealthy, you must have your own business!
So we have now learned that the greatest opportunity to become wealthy is through owning your own business.
The second set of specialized and valuable knowledge is an entirely new way to look at your personal finances.
Robert Kiyosaki in his blockbuster #1 best-selling book developed a completely new and simplified way to understand your personal spending and earning patterns, and how they lead you closer to or farther away from becoming wealthy. To explain these cash flow concepts in more detail.
The following information is gathered from his book Rich Dad Poor Dad - What the rich teach their kids about money that the poor and middle class do not! and Robert's website: http://www.richdad.com
Rich Dad said, "The riskiest investor of all is a person who is out of control of his or her personal financial statement. These are people who have nothing but liabilities that they think are assets and as much in expenses as they have in income and whose only source of income is their labor."
Understanding your Financial Statement is the foundation for taking control of your personal finances. Rich Dad believes the relationship between the Income Statement and the Balance Sheet was everything. What is the first step to financial freedom? Take control of your Financial Statement.
Cash Flow Pattern of the Poor (or a young person still living at home): The poor spend every penny they make and they have no assets or liabilities, only expenses. The cash flow is limited to income and expenses and the cash flow pattern of the poor reflects income from a job that is used to pay expenses like rent, food, clothes, transportation and taxes.
Cash Flow Pattern of the Middle Class: Individuals in the middle class accumulated more debt as they become more successful. A pay raise qualifies them to borrow more money from the bank so they can buy personal items like bigger cars, vacation homes, boats and motor homes.
Their wage income comes in and is spent on current expenses and then on paying off this personal debt. As their income increases, so does their personal debt. This is what we call the Rat Race.
Cash Flow Pattern of the Rich: The rich have their assets work for them. They have gained control over their expenses and focus on acquiring or building assets. Their businesses pay most of their expenses and they have few, if any, personal liabilities.
An individual's cash flow pattern may show a combination of these three types. Which pattern does your financial statement reflect? What story does your financial statement tell? Are you in control of your expenses?
As you can see, the poor, middle class and rich, have dramatically different cash flow patterns. The poor and middle class work for income and either spend their money on necessities or servicing and ever increasing debt load; while the rich have their money or assets work for them, and re-invest their income into additional income producing vehicles.
Part of becoming financially fit it to get the ball rolling. You may be asking yourself, "How can I invest the income I make into income producing assets when I spend most or all of my income already on necessities and debts?"
In tomorrow's lesson we will show you how to immediately put additional cash in your pocket, this month, without changing your job, asking for a raise, or taking profit from any business you choose to start! In fact tomorrow we will show you how it's possible to fund your first income producing asset with cash left over to help with the monthly budget!
That's all for today's Lesson.
Here are the key points to remember from today's lesson:
Where building wealth is concerned, a formal education is not necessary, and does little to prepare you to become wealthy. 74% of all wealth in America was made just one way; by starting and owning your own business.
Your greatest opportunity to become wealthy is through owning your own business.
The poor, Middle Class, and the Rich, have dramatically different cash flow patterns and spending habits.
To learn more about the complete financial fitness system, click here Wealth Building | Debt Reduction | Affiliate Marketing | Home Business
Or visit us at http://www.financially-fit.net
Lesson 1 - Why Arent You Wealthy?
We will start the Financial Fitness System with the assumption that you are out of shape financially or you would not have decided to subscribe to the course. So, again, why aren't you wealthy? There are some exceptions, but for the majority of the world it's the same reason. You did not choose to be wealthy, that's it, end of story. We told you this would be simple!
Building Wealth: A Wealth Building Strategy Is More Than Simply Diversifying Your Investments
Wealth - an abundance of values. Each of us determines what is or is not of value to us. He or she may not be wealthy even though they may have a great deal of money because they have no honor, no happiness.
Generate Savings with Smart Use of Electricity!
No matter what income level you are currently at, generating savings is always a smart move to make. So what is one area you can generate a satisfying level of savings? Change your habits and how you use electricity. Yes, do these simple steps and satisfyingly watch your electrical bills dwindle.
How to Save Money for Retirement
Saving money for retirement can be easy or difficult depending on your current salary. If you are like 75 percent of the American population, earning just enough money in your current job to meet your monthly bills, then it's time to do some serious thinking on how you are going to live when you retire.
Start A Cashflow Club
The cashflow board games, Cashflow 101, Cashflow 202, and Cashflow For Kids, were designed by Robert Kiyosaki, best-selling author of the Rich Dad, Poor Dad book series.
Build Wealth From Home
As you sit in traffic, inching along between irate drivers, you think to yourself, "there must be a better way." You get to work, you endure another tirade from an incompetent boss, and you think, "there must be a better way." You work hard, you're underappreciated, underpaid, and fed up. After all this, you can barely pay the bills, and haven't taken a real vacation in years.
Don?t Work for Your Money, Make it Work for You!
Well, the New Year is around the corner and so are New Year's Resolutions! It's such a great time of year to consider what the past year has brought us and what we want to create in the coming year.
The Truth About Setting Up A Wealth-Pump Business: The Passive Income Myth Exposed
In theory the idea of generating additional (and passive) business revenue from books, CD programmes and eBooks couldn't be simpler. Find a market. Create a product. Watch the money roll in while you play golf, pamper yourself, shop for shoes, go fishing or enjoy a little R&R.
Financial Intelligence - Natural Marketing For Lone Rangers
"Ooooooh," you may say, "I could NEVER be good at marketing, I'm just not that sort of person. I'm just not pushy enough".
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?
You Can`t Cheat An Honest Man
Author: James Walsh ISBN: 1563431696: Publisher: Silver Lake Publishing
The Wealth Connection ? 2 Steps to Brighten Your Golden Years
Estimated Reading Time: 4 minutes -- Envision your life 10 or even 20 years from now. Where do you plan to be? What are you doing and with whom?
Wealth Secrets: Saving Your Way to a Fortune
SCENE 1: Pharaoh has just woken up from a very troubling dream and feels he must know the interpretation. Joseph gets called in and explains that there will be seven years of plenty and seven years of famine. The famine will be so bad that it will be as if there were no seven years of plenty.
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.
You Deserve To Retire Early
The fact is that most people continue to work for a living, because they don't have the means to live without that income. Do not get me wrong. You may enjoy doing what you do. If you do not have to worry about making a living out of this, could you do better, on your own terms?
Simple Tips on Saving
Simple tips on saving can very often make quite a big difference to your finances. Saving means giving up something now, so you will have more in the future. A consistent, long-term saving program can help you achieve your goals. It also can help you build a financial safety net. Experts recommend that you save from three to six months worth of living expenses for emergencies.
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?
The Underlying Belief System
Many of us do not consider the underlying belief system about money to be of any importance. You think it does not matter, because what matters is what you do now. Right, at one level, but not complete. All ideas that we have learned about money in the past are colouring our actions today.
Rich or Poor - Get the Knowledge
Most people work hard all their lives only to "retire" poor then try to live off meagre savings or a small (rapidly disappearing) Government pension. They are forced to live out their twilight years struggling with constant money problems. Many of them have to buy only the cheapest food and are unable to enjoy the little pleasures of life like going to an occasional movie, eating out or taking short trips. They have to watch every cent they spend.
Who Wants To be A Millionaire?
How many people search Google, Yahoo and MSN each day for the terms - make fast money online, get rich quick, or make money online? Or how about Who wants to be a millionaire?
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