The Secret to True Contentment: Work

I know everybody thinks that life is about getting to a place where you don’t have to work, where you can just take it easy and drink cocktails while sitting by the pool but I can tell you from personal experience, that is a road with few rewards. Work—having a job, a business, or personal objectives you are actively striving for—is something you will never want to be without. Work is not just for paying the bills, it is essential to having a fulfilling life.

Studies have shown that people are four times more likely to have a sense of contentment from work than they do from watching TV. That’s a pretty impressive statistic and yet, the majority of people (especially in the good ole U.S. of A.) spend huge amounts of time watching the tube. So why do we choose to watch TV rather than get to work on things that would further our personal and professional goals as well as provide us with more contentment?

It’s because work is hard. Worthwhile and challenging tasks usually take the proverbial blood, sweat, and tears and sometimes end up being a constant uphill struggle. Instinctively, we want to avoid what is difficult and TV can fill our time without taxing our brains or body. But it is the difficult work, the complicated and challenging goals we face in our day job or the effort we put into building a dream, that makes what we accomplish so satisfying. Watching TV, on the other hand, accomplishes little if anything and is not, at the end of the day, very fulfilling.

You probably enjoy games of some sort—tennis, golf, chess, sodoku, etc.—and you play because of the challenge and the way you get lost in it, looking forward to seeing what you can accomplish or motivated by that potential win. Likewise, in your work, if you take time to set difficult and complex goals and totally throw yourself into reaching those objectives, you will find that your contentment and happiness will soar, buoyed by your progress and that potential, if not actualized, win.

Bottom line: set up some very tough challenges for yourself, pushing yourself to do more complex and novel things (whether you’re a millionaire now or still working on it!). It’s the work that will lead you to a richer and more satisfying life and make the down time by the pool much more enjoyable.

It Isn’t Always About the Money

I talk a lot about creating wealth on this blog because, honestly, making better money is a major goal for many people. However, not everyone wants to be wealthy, not monetarily at least. Some people have a different currency they want to invest and see grow.

Take, for instance, Daddy Bruce Randolph, a philanthropist and restaurant owner who, at the age of 60, after many years of hard times and failed businesses, scraped together enough money to open a BBQ joint in Denver. A year after he opened, not that much better off financially, he started serving free Thanksgiving dinners to the down and out in his community, a tradition that would last almost 40 years. He would also give away what he could to help the less fortunate on Christmas, Easter, and even his own birthday. Every year his generous events would get bigger and harder to finance but he’d still keep doing it. It gained him admirers all over the country, many of whom jumped in to keep the charitable events going as they grew well beyond his means. Because of his generosity, he had to live modestly but still, he was happy.

When asked why he gave so generously, Daddy Bruce said, “You can’t beat love. Nothin’ beats love. If you give one thing, you get three things back.” He was, in the truest sense of the phrase, a very successful investor. He invested in what he believed in most and gained the love and appreciation of thousands of grateful Denver citizens as well as the admiration of people from all across the country. Not that he was after the admiration, I’m sure, but if he was getting three times what he gave, he was certainly one of the richest men of his time, living a full, passionate life through bettering the lives of others.

I understand that kind of passion. I may have amassed significant personal wealth but the real joy in it has not been what I can buy but how I can use what I have to help make positive changes in other people’s lives. It’s why I wrote my book “How to Ignite Your Passion for Living”. It doesn’t matter whether your dreams involve increasing your monetary wealth or enriching the lives of others, the key is to live well and let your passion lead you.

The Real Costs of Your Investments

How often do investors think about what is involved in their investments besides money? If you’re handing your money over to a stock broker, the time it takes to invest is small but you also take on significant risk. In real estate investing, there’s both money and time involved in getting it into shape to sell or rent. In a small business investment, the common approach is to put in as little money as possible but all your free time. So considering everything, what investment makes the most sense?

The answer lies primarily in the risk level of the investment and how much your time is worth. For instance, investing through a broker takes little time but the pay back is either very uncertain or very small. Small businesses often take years to turn a profit and your time investment, which may seem cheap or free initially, can be very expensive if you consider how much you could have made working more hours or a second job. Just think, if you could have gotten $25/hour working a second job, then that 20 hours a week you spent over 6 months getting the business up and running cost you $12,500 in lost income! How long will it take you to recover that investment through your business?

In real estate, you invest both a significant amount of time and, sometimes, money (see last week’s post and page 184 in my book “How to Ignite Your Passion for Living” on how to get others to fund your investments) but the outcome is far less risky. The added bonus is that real estate will not continue to suck your time the way a small business often does, and the returns will inevitably be greater and more secure than stocks. This is why I really encourage you to look at real estate if financial freedom is a primary goal of yours.

I’m not saying you shouldn’t open that storefront you’ve been dreaming about or support your favorite budding green business with a capital investment—there are many factors beyond time and money to consider when deciding what investment is right for you—but just don’t pour your all your time and money into something that is not going to help you reach your financial goals in the near future. Keep an eye on the big picture. Because after you make your first million in real estate, you can pay someone to do all the hard work to get that business off the ground or invest in whatever you like. That’s the beauty of financial freedom.

Getting into the Real Estate Game with the “Hansen Model”

Last week I talked about the 10% method for building the capital you need to get into what is today’s top investment opportunity—real estate. The only issue with the 10% method is that it will take some time to pull enough from your paycheck to have the seed money for your first real estate investment. So how can you take advantage of the great opportunities out there right now?

Simple. You have other people put the money in for you.

The best “super leverage” method I’ve seen is what I call the “Hansen model” after a particularly ingenious investor by the name of Dell Loy Hansen. You can read about Dell and his method in detail starting on page 184 of my book How to Ignite Your Passion for Living, but I’ll give you the gist of it here.

To start, you need a few people looking to invest in a safe, reliable project that will give them a regular and consistent return. Get them to collectively fund a down payment of 20% or more on the property you want to purchase and promise a reasonable return–say a 10% APR, an amount that is presently 500% higher than the best CD can offer. If you can put in some of your own money as well, it makes the investors feel much more secure as you’re backing your confidence in the investment’s potential by also putting your money at risk.

Then when you flip that house or rent those office spaces, get the best return possible and get the money back to your investors with a higher than expected rate of return. When they see that you not only lived up to but exceeded their return expectations, you will have created a enthusiastic group of investors for future projects as well as getting wonderful word of mouth that could bring even more money flocking to you.

There are plenty of people out there right now who have cash to invest but don’t want to bank on the unpredictable stock market and aren’t getting anywhere with the meager CD returns. So start working on cultivating those investor relationships and get access to the “leverage” you need to gain financial freedom sooner than you thought possible.

Starting Your Wise Investment Journey

The recession is still being felt in many parts of the country and the depressing talk about how bad things are continues. Real estate prices are still depressed, interest rates are still uncommonly low, and jobs are still on the scarce side, but those indicators aren’t actually signs of doom and gloom, they are shining signs of opportunity. It is unlikely that you will see better deals on real estate or find lower interest rates on loans in your lifetime and if you are stuck in a job you aren’t happy with because you can’t find a new one, start your journey to financial freedom by investing now and investing wisely.

Of course, the first question you are asking yourself is, where do I find the money to invest? The common belief is that you need to be making big bucks in order to have extra money to invest. But the fact is, it doesn’t matter how much you make. All you need is a plan and a little discipline.

If you have ever had a big jump in salary you may have been amazed 6 months into getting those fat paychecks that you were not able to save any more money than before. That’s because we tend to spend at our income level or beyond it so if you make more, you feel like you can, or even should, spend more. Nicer dinners, more expensive clothes, a few more nights out, a pricier car or vacation and the “extra” money you are making is gone. So how do you get around this tendency?

You can do this by putting away 10% of every paycheck—automatically, without exception, every pay day–then pay yourself (i.e. pay your bills as well as earmarking money for essentials like groceries and gas) before spending on any non-essentials. This will keep you within budget and on track to gathering a sizeable sum that you can then invest and start making even more money from. In today’s economy, real estate is an accessible and wise investment opportunity that you should really be taking advantage of. And starting with this smart savings tactic will get you there far sooner than you think.

You can read more about the potential of real estate investments on pg 191 of How to Ignite Your Passion for Living as well as on page 31 of Waking Up The Financial Genius Inside You (write me directly to order this book for just the cost of shipping).

Living Healthier in the Now

Most of us have some health related goal or area of improvement that we are working on or hope to work on very soon. Keeping yourself mentally and physically aware while exercising and eating by using the “living in the now” concept I’ve been talking about in the last couple blogs, can get you through a strenuous workout as well as help you eat right all while increasing your enjoyment of these activities.

For most of us, getting through an exercise routine is a struggle. But if you are completely attentive to your movements instead of thinking about how you’ve never yet been able to keep up an exercise routine or letting your mind wander to how much nicer it would feel to be lounging on the couch, you aren’t as likely to quit in the middle of it. Just keep focused on the feeling of your muscles moving and listen to your breath as you control your inhaling and exhaling (a primary concept behind yoga and its distressing effects, by the way) and soon enough you will have completed your routine or finished that 30 minute run and are feeling great.

When it comes to food, it’s all about being mindful of what you eat, how much, and how you eat. When you reach in the fridge for something, consciously decide what will contribute to your well balanced intake for the day and choose your best options. Stop eating directly out of the box or bag and lay out a small portion on a plate that you can then take to a table or out onto the porch to enjoy. Choose a place with no TV or computer or anything else to distract you. Taste your food, becoming aware of every flavor and texture, and chew completely. You will find that eating “in the now” is much more enjoyable. It will also slow down your eating so you fill up on less food and will help your digestion by having food well broken down before it hits your stomach.

“Living in the now” will help you by not only increasing your appreciation of the sensations of exercising and eating well but will also help you attain your goals for a better, healthier life. You’ll feel great because of your accomplishments along with gaining the long lasting and compounding effects of the bliss that comes with being consistently happy in the moment.

Living in the Now while Planning for the Future

As I mentioned last week, you can strive to make your life better but you also need to appreciate what you have and what you accomplish today. This is the concept of living in the now. No matter what your circumstances are at the moment, you should strive to enjoy the life you are living today. This can be a difficult concept to put into practice, especially if you focus so much of your energy on the future and reaching your goals. So, how do you live in the now while working towards a better future?

The answer is to balance your thoughts between enjoying what you have now and looking forward to what you will have in the future.

Chances are if you are reading this blog you are a goal setter, or are trying to become one, so you probably spend a lot of time thinking about your future. And you should regularly take time to think about how your life will be when you reach your goals as it will help keep you focused on what you are after and motivate you to keep going. However, while chasing your goals, you should also be striving to live as fully and as passionately as you can, today.

For instance, don’t go to a cheap diner and spend the entire meal thinking about how you’ll be able to eat at high-end, ritzy places when you are successful and rich. There’s nothing wrong with letting that thought in—for a moment. But then sit back and enjoy your meal and don’t let your mind wander back to what you aren’t able to do, right now. Because right now, being frugal is probably necessary for you to eventually reach your goals as well as take care of today’s responsibilities. And besides, no ritzy place is going to have that sweet old waitress who calls you ‘hon’ and always has a colorful joke to get you laughing at the end of a long hard day.

So become a keen observer of your own mind, being conscious that you spend the majority of your time focused on taking in the experiences and sensations of the moment you are living in. Because what is the point of working through today just hoping to enjoy tomorrow? You should be enjoying today as well!

Enjoy the Journey

Recently I had a young man come to me in a near state of depression. I was surprised at how down he was as he usually very upbeat and positive. When I asked what was going on he said he was frustrated and felt like a failure. He had huge goals which he’d been continually working on but he felt he wasn’t progressing fast enough. He wanted his future to happen now.

I have found this to be a very common state of mind these days. Our advanced technologies have led us to habitually expect that we can access our wishes immediately. Super fast internet, instant downloads, DVRs, and multi-functional cell phones give us the ability to have some level of access to whatever or whomever we want whenever we want. But life, in general, doesn’t work that way. As a result, we are experiencing more and more frustration and impatience which ultimately leads to depression or anger.

Reaching a goal is a series of small, necessary steps but even when you are making steady progress, it may feel like it is taking forever to attain it because of all you must go through to get there. The key to a truly successful goal, however, is not only reaching it but also enjoying and celebrating life while you work towards it. In other words, you need to learn to appreciate the journey, not just the destination.

Over the next few weeks, I will talk more about what is often referred to as “living in the now”. Much of what I want to talk about is based on principles outlined in my book, How to Ignite Your Passion for Living. It’s hard to be passionate when you are frustrated and impatient but it’s not hard to be passionate about anything if you are passionate about living and enjoying the moment. That is really the ultimate goal.

You Never Have to ‘Lose’

Last month I had the chance to play a very special doubles tennis match with Governor Gary Herbert of Utah. I had my partner, Judge Andrew Valdez, and the governor had Jeff Robbins of the Utah Sports Commission (who also played the pro tour for a while!). It was very close but, in the end, the governor and Robbins beat us. Still, there were no losers that day. First of all, the match itself had been a dream of mine. Not only that but the wager was that if the governor won, I would donate $5000 to the Granite Education Foundation, an organization that supports Utah schools and Utah kids. So when the last volley ended, I was as elated as anyone because the kids were the big winners and I could celebrate for them.

I wish that we could all look at the events in our lives and think about the wins not the losses. In the tennis match, the governor won the game, the kids supported by the foundation won additional funding, I achieved a dream, and players and spectators alike were uplifted by the exciting event and the philanthropic theme of the day. We didn’t win the game but there was no way I could look at the day and say we lost.

This positive outlook is something I call a “God’s Eye View.” It’s a way of seeing things from the perspective of humanity as a whole. It means believing that someone, somewhere, is getting joy and/or some kind of enhancement in his or her life even when you are not, and you can be happy and rejoice in the moment for them. Living this way, never being concerned about what you didn’t win, what you did not personally get, makes you a happier person. And that in itself is quite a win.

I talk about this “God’s Eye View,” at length in Chapter Twelve of my book, “How to Ignite Your Passion for Living.” It is intertwined with thoughts on the many benefits of giving which is also part of the “God’s Eye View” and something I try to do on a regular basis. In fact, the flip side of that tennis wager was that if I won, the foundation would get only $4900. Because if I had won the game and the kids lost the donation, my dream to play with the governor would have been a rather empty achievement. The best goals are ones that not only fulfill your dreams, but allow you to give back in some way as well. What they want. And there is no reason why you can’t be one of them.

Get your FREE copy (you pay shipping and handling only) of the book,  “How to Ignite your Passion for Living.”

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Coasting Through Life or Living It?

“Lucky are those who have passion for life. But blessed are those who have passion all their life.”

That’s one of my favorite quotes. My heroes are people who have been leaders. Their personality creates an atmosphere. They set mind stimulating goals rather than take the easy way and think “I’ll just coast.”

One problem is we rarely have good examples of people who live with passion their entire life. In the movies people who are successful and happy reach a certain destination. They reach some pinnacle of success and the movie fades out with them sitting around the pool. If you truly want passion all of your life, you can’t lounge around. You have to start creating it yourself. You must continue to challenge yourself to accomplish goals that are meaningful to you.

Instead we might be tempted to think, is this all there is? Happiness comes from the process of setting and reaching goals. We as humans feel so good when we’re totally involved in something. You’ve felt this when you’ve gotten lost in a novel, playing sports, or at work. You lose yourself, you are living in the now. You’re in the moment. That is living!

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