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The Inspiration of Children

May 19, 2017 by  
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Kids, Kids, Kids! What would the world be without them? The older I get the more I’m impressed with and love kids. We can all learn so much from them, whether it’s observing the super-fast learning ability of a baby or watching teenagers and their progression in this world. The month of May is so very significant for me in terms of kids, both in a good way and a very, very bad way.

Many years ago, my precious, wonderful, and beautiful daughter, Kristin, died from an eating disorder and, hopefully, passed peacefully on into another existence. I can’t put in words how that tragic event hit me, I’ve said many times since that you never get over losing your child, you just learn to deal with it! That horrific event happened on May 2nd.

But then 5 years ago, also on May 2nd, our family was blessed with the birth of another grandson, Oliver Haroldsen. To add to my May blessings, his mother is expected to deliver twin girls later this month.

A few nights ago, on May 17th, so much of the events of this significant month was brought back to my mind as I presented the Kristin Haroldsen memorial scholarships to 5 incredible Cottonwood High School senior girls. I was so very impressed, not only by their high GPA’s of 3.7 and above, but by how many other activities and achievements they were involved with. They also gave so much of their time and efforts to so many charitable causes. Their hard work and generosity is something we can all learn from and aim to duplicate.

Giving to others, whether it’s money, time, or physical help, not only is a great benefit and aid to these people, but improves and lifts the world including giving so much satisfaction, pleasure and happiness to the person who does the giving. Even a small gift, such as my practice of randomly giving kids a $2-dollar bill gives me a real mental boost. I usually say to the parent “Hey, this is a lucky $2-dollar bill; you see I’m an investor and that $1,000 dollar smile on your kid’s face is my reward.” And then I add, “Don’t you agree with me that that’s a darn good return on my investment?”

Bottom line … I think we all should remember to give, give, and give to others because, hey, if you do that everybody is a winner and gets a great big, fat return.

Smart as a Turtle

May 12, 2017 by  
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Good ole sex therapist Dr. Ruth is still at it at age 88 … Wow! Her latest advice is a good one too. I just heard her on the radio talking about how important it is to take some risks if you want to have a better more fulfilling and financially more profitable life.

Dr. Ruth collects little turtle figurines and presently has 40 of them. Why? Because these turtles hold a great meaning for her and her life. Namely, as she says, “If a turtle wants to move, it has to take risks. It has to stick it’s neck out. It could get hurt. But if it does not stick it’s neck out, it doesn’t move.”

She goes on to say that the turtle is like herself, saying that she too sticks her neck out and takes risks; risks that put her on top in the broadcasting world. She is also probably the most famous sex therapist in the country. Not bad for a lady that is an orphan survivor of the holocaust.

The last couple weeks I’ve talked a lot about fears that we all have and ways to face those fears and overcome some of them. We all need to heed the advice captured in the title of Susan Jeffers’ book Feel the Fear and Do It Anyway. That title can and should apply to so many parts of our lives. It could be investing some of our money into a run-down property that we can see could be worth so much more when fixed up. Or perhaps it’s changing jobs or our profession and getting into something totally new, knowing it could be a much better position or career, one that fits our talents and our passion in life. Or maybe you want to write a book or start giving public speeches but your great fears kick in and stop you in your tracks.

If so, you are just like that turtle that doesn’t stick it’s neck out and therefore doesn’t move. In the case of the turtle, that lack of movement could even be a death sentence and for us humans who want to lead a wonderful and more fulfilling life it probably will kill that kind life or at least do some major damage.

So, I think all of us need to remember and take to heart that advice from Dr. Ruth’s turtle. We should stick our neck out when we want to move ahead and take some risks. Even when we feel the fear, let’s do it anyway!

Losing Out to Fear

May 5, 2017 by  
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I am totally convinced that most people don’t end up making big money–especially when you are talking millions of dollars—not because they aren’t smart enough but because of their fears. It is a fear of failing and/or the fear of losing what little money they may have. Believe me, I totally understand those fears because that is exactly what held me back for a long time.  But that’s when my wonderful friend and mentor, Larry Rosenberg stepped in and gave me the courage to overcome my fears or at least reduce my level of fear. At the same time, he showed me exactly how to do the big deals and reduce the risks which, of course, reduced the amount of fear I had.

Don’t get me wrong there are always risks but even so, Larry convinced me that if I wanted to hit it really big, I would have to take some bigger risks. At that point, I reasoned with myself and agreed with that old saying, “Better to try and fail than never to try at all.”  I never forgot being told repeatedly when I was young, “Nothing ventured, nothing gained.”

There is no question that when you use financial leverage on a purchase that you increase the risk to yourself.  Like that old example I’ve used over and over—if you put 10% down on a $500,000 dollar property, you could lose all your money if that property dropped in value by 10% and you had to sell it. That’s $50k gone just like that.

That kind of risk is scary but on the other hand, if that property increases in value by 10% then you’ve just doubled your money or made a 100% return. Remember what huge numbers 100% returns do to your money over time–just one penny compounded at 100% a year grows to well over $10 million in just 30 years! That’s the great power of compounding. Of course, you can reduce your risks, big time, by using your brain and your brawn to fix up a property which greatly increases the chance of raising its value and greatly reduces your risk.

If you want to reduce your risk even more, you may want to do what one of my long time students did early on in his acquisition of property. I’m talking about Dell Loy Hansen who now owns properties valued in the billions. He started from scratch after he read my first book, How to Wake Up the Financial Genius Inside You. How did he reduce his risk?  He went out and found partners which allowed him to buy property with much bigger down payments, so they went into these investments with a lot more equity and hence less risk. That, of course, reduces the possible return on the amount invested but, for Mr. Hansen, it greatly increased his leverage and allowed him to buy bigger and bigger properties, hence his multibillion-dollar portfolio.

So remember, if you want to hit it big, be prepared to take some risks and if you want to cut those risks a bit, go find some good partners to share in the initial down payment. Just be sure to take good care of those partners.