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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.

 

 

Crossing Out Our Fears

April 28, 2017 by  
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Last week I promised to give you some directions on how to get rid of your fears and, yes, I think we all have some fears that should be dealt with. Elle Luna in her great book, The Crossroads of Should and Must, gives such excellent advice and direction on how to eliminate fears.

The first thing you need to do is be totally honest with yourself and write down your fears, some of which you’ve probably not told anyone about. Those of you who follow my books and blog know that I am a huge believer in the power of writing things down.  When I write down a goal, for example, especially if I include a time line and date for reaching that goal, those written words have huge power over me and push me to deliver on the promise and the goals that I set for myself.  Those written words on the page drive me and won’t let me go until I achieve the goal.

Elle’s advice on writing things down begins with a list. “Grab a piece of paper and write the numbers one through ten on the left side of the page. At the top, title it “What are you so afraid of?” This is your worst-case scenario list. This is your list of fears, ultimate doomsday concerns, and everyone-is-going-to laugh-at-me-and-run-the-other-way scenarios. These are your largest, scariest fears, and you’ve got ten minutes to write them down.”

I really loved the following advice she says right after that–“Now let’s get realistic about these fears. Because often, fears in our mind can be like say–sticky and way difficult to remove. But fears on paper? Tangible, visible.”  This is followed up by a new term for me and one I really love. She asks us to identify and go to work on the fears that are “cross out-able.”

“After you’ve gone through all of your fears,” Elle says, “write a short note or tip next to each line listing one thing–just one–that you can do to loosen that fear’s grip on your life. Get to know these fears intimately because they are the invisible walls that surround you daily. Decide which ones stay and which ones gotta go.  If you are going to live that better, more satisfying life you must follow your ‘musts’ not those ‘shoulds’.”

You see, as you make even a little bit of progress in eliminating a fear you will gain a wonderful feeling of accomplishment and power and writing it down will help you push yourself to eliminate that fear. And never forget that it’s totally ok to approach this by taking baby steps, as Lao-Tzu was quoted as saying, “A journey of a thousand miles begins with a single step.”

 

 

The Life We Want

April 21, 2017 by  
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How do we discover who we really are and what we really want our lives to be? First, listen to what the brilliant Mark Twain said many years ago: “The two most important days in your life are the day you are born and the day you find out why.”

Most of us know what day we were born but, as I’m sure you’ll agree, it’s pretty darn important to figure out why you were born and what you want your life to be although in that regard, many of us feel uncertain. One of my favorite authors, Joseph Campbell, said in his book, The Power of Myth, “I say follow your bliss and don’t be afraid, and doors will open where you didn’t know they were going to be.”

In the book by Elle Luna that we have been examining, The Crossroads of Should and Must, Elle explains that if you want to really discover who you are and what your life should be, you have to “find and follow your passion.” I couldn’t agree more, but how do we find it?

A great starting point would be to look at our childhood. Luna says, “Nowhere is the essence of Must (or in other words what you must do and be with your life) more purely exhibited than in childhood. What were you like as a child? What did you enjoy doing? Were you solitary or did you prefer a crowd? Independent or collaborative? Day optimizer or day dreamer?” She goes on to say, “If you don’t remember, call your mom, or someone who knew you well in your early childhood, and ask for stories about what you were like as a kid.” She adds that you should take good notes because this can lead you to who you really want to be and must be.

When I followed her advice and revisited my childhood, I wrote down what I was like and what turned me on back then and I easily remembered that I loved sports and loved talking to people, especially new people. I loved to visit new places and I loved to tell stories. I began in my early teens to write down stories of my thoughts and dreams and I was thrilled to note that I’ve continued to write and have made a career out of it. So now, when my mind starts wandering and wondering what I should be doing differently with my life, I take a pause and more fully realize I’m already following my passion and that makes me feel so much more satisfied.

“Don’t ask what the world needs,” Elle says. “Ask what makes you come alive and go do it. Because what the world needs is people who have come alive.”

Luna does throw in a big caution flag saying, “While money, time and space are the reasons given most often for not choosing Must, there is another fear that’s far scarier and spoken about much less.” She is referring to the feeling of being vulnerable which is caused by our personal fears. She then gives suggestions on how to rid yourself of those fears, which just might be the thing to cover in next week’s blog.

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