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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.”

 

 

Eliminating the Shoulds

April 14, 2017 by  
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If each of us is to live a much better and more fulfilling life, it’s very important that we move from living a life of things we ‘should’ do and move to a life of things we ‘must’ do. The ‘shoulds’ are the things that other people and institutions have told us we should and should not do while the ‘musts’ are those things we think and decide for ourselves.

So, the big question is, how does a person dump those ‘shoulds’ that were put on us by others? Many, if not most of the ‘shoulds’ of our lives were put on us when we were young and easily persuaded to do or not do certain things. Of course, as kids, we did need to be told what to do, what not to do, and how to act.  But if we want to live a total and satisfying life, one that is our life by our own design, then we need to move from the ‘should’ mindset that came from others to our own life of what we feel we ‘must’ do.  If we do that, then we can really follow our own dreams, ambitions, passions, and natural talents.

But how do we really get there?  How do we discover what we really want, who we really are, and what we want our lives to be?  First of all, according to the book we looked at last week, Elle Luna’s The Crossroads of Should and Must, it’s not easy to get rid of our ‘shoulds’ and move to our own designed ‘must’ list and life.

Elle says that “we need to know each ‘should’s’ origins, how it got there, and when we first began to integrate it into our decision-making … look for recurring patterns and choices both little and big that are affected.”

Luna further suggest that you “grab a piece of paper, and make a list of the ‘shoulds’ you hold on to by completing the sentences that I listed in last week’s blog. She adds that you should “listen to what comes up first and write it down … where did you come from? Are you true for me? Do I want to keep holding on to you?”

Think about how many ‘shoulds’ that have been put on you in so many parts of your life–religious beliefs, education and what you specifically studied, the job or occupation that your ended up in, your political leanings, and what you think you want to do for fun and for pleasure.  The list of these affected areas could go on and on. Of course, some of your list would be things that you personally chose for yourself and were not pushed on you but those that were not your choice need to be examined and eliminated if it’s not what you really want and not who you really are at your core.

Next week I will give Elle Luna’s suggested ways of how one goes about discovering who they really are and what you really want your life to be like. It’s not an easy process but it is so very worth the effort and the results that will make your life so very much better and more fulfilled.

 

 

Stress as Good And Bad

March 18, 2017 by  
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This week I want to talk about stress. I am even a bit stressed about getting this written in time to post it! There is a lot to stress about. Because of that people have come up with all sorts of ways and methods to reduce stress. However, stress can be good because it can push you to get more done and try harder to reach your goals. And, get this, you can actually learn how to make it so that even a ton of stress doesn’t hurt or ruin your health! I think you will be surprised and delighted to learn how to do this, as I was. But let’s examine how we think about stress for a minute.

As most people know, stress seems to be caused, for the most part, by our thinking and worrying about some future event–near or far. There is, however, two bits of really good news about stress. We all know that if we wanted to be a better or even a great tennis player, golfer, singer, writer, public speaker, etcetera, there are ways to become just that. One of the best methods is the “10,000-hour rule” as explained in Malcolm Gladwell’s book Outliers. (If you haven’t read the book, I think it’s a must.) It says you need to put in 10,000 hours at something to become world-class in that field.

From my experience and from what I read, we as humans can do “work outs” and do lots of “practice sessions” with and for our brains, just like we can invest those 10,000 hours to become the best at something. Part of the good news is that, when it’s needed, it doesn’t take 10,000 practice hours to reduce stress.

So, before I get to the good news about how stress isn’t always bad for you and your health, let me just list a few simple techniques that are easy to do to reduce or eliminate stress when you know it isn’t doing you any good:

  1. Take a walk outside.
  2. Take a run in a new neighborhood.
  3. Take a Hike.
  4. Meditate.
  5. Go to a yoga class.
  6. Share your problems or stress with others.
  7. Get a massage.
  8. Take a hot bath or jump in a hot tub.
  9. Do a good deed for someone else.
  10. Give or get hugs and kisses from friends and relatives.

These simple things are easy to do and are well known to work.

Okay, that is all well and good but what about the big shocker I’ve been hinting at? This is something that hit me hard. It has to do with changing a person’s thinking and how what they believe changes their health and life span. It is pretty amazing and I will cover it next week. But in the meantime, de-stress as needed and start getting used to the idea that it’s not always bad to be stressed. Then tune in next week to see what I mean!

The Deadline Motivator

March 10, 2017 by  
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Have you ever noticed how you tend to get very organized and efficient, getting tons of stuff done, when you are preparing to go on a trip? It doesn’t matter if it’s a vacation or a business trip—just any kind of travel with a set time to leave will get you moving. Why does this happen? Because if we are going to catch a plane or train or we have an appointment that absolutely must be kept, then that deadline will drive us and focus us. This teaches us that deadlines can be a very good thing. They push us to be more organized and efficient and get so much more done than we probably even thought we could.

That thought hit me pretty hard the other day as I was hurrying around getting so much done since we were flying out of Kauai on our way back to our Salt Lake City home. Good ole Delta Airlines set a 10 p.m. deadline for me the next day and I had to get a whole list of things done so we could get out on time and not miss our flight. I feel the pressure of this deadline even though I do have a special deal with Delta which is if I am not there on time they can leave without me! Oh, I know you probably have the same deal, ho ho! So, wow, was I ever getting a ton of things done and, for all the pressure that it caused, it also made me feel very good about myself and my life because I was really pushing myself.

I have always thought that setting deadlines is a very good thing since they push us humans to be more productive. Deadlines can and should be used in many parts of our lives. I sure have found that my setting deadlines for certain financial goals was a huge key to my wealth building.

I have found that setting deadlines for health also has been very helpful. If we decide to do a fast or start a workout program and do not set a day and time deadline to accomplish them, there is a very good chance that we will not get very far with those goals.

I guess if you and I lived forever, or even for 500 years, deadlines would not be important or at least not very important. But I did hear a rumor that everyone of us is going to die, so hey, if you want to be more productive, more successful, and live a full life, you better get started now. Set some goals and attach good solid deadlines to get them done. Maybe pretend that you are going to Europe and just cannot miss your flight! And yes, of course, you must write those goals and deadlines down and review and revisit the promises that you made to yourself and stay on target! Because you don’t want to miss your deadline!

 

 

Great Health Can Help You to Great Wealth 

March 3, 2017 by  
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Let me throw out a big challenge to all my readers for this great year of 2017:

LET’S ALL MAKE 2017 THE HEALTHIEST AND MOST FULFILLING YEAR OF OUR LIVES AND BUILD SOME MORE WEALTH ALONG THE WAY!

Ok, just how are we going to do that? Is there an easy way or at least is there a simple way? There are some simple ways but, of course, it does take work. Last week I wrote and preached about the importance of staying busy, which keeps boredom at bay. However, keeping busy can also greatly improve your health and great health can, and does, make it easier to create more wealth.

So now if you and I want much better health, what are some of these simple ways we can get that job done?

As I’ve said many times before, one simple key is to keep moving! And, of course, the other obvious key is eating a very healthy diet. Of course, that sounds simple but we all know the temptations of good tasting food that is very bad for us. I find it very interesting to look and study the numbers of calories that we burn because to burn a lot of calories naturally helps keep our weight where it should be for good health. Movement obviously is better for the body and burns more calories than sitting or lying still, but even just standing burns more calories than sitting.

My very thin wife Kimberly figured this out long ago and I swear I rarely see her sitting–she always stands to work on her computer or to write a letter. Whatever she is doing, she is always vertical and on the move. More and more business people, including my sons, use stand up desks for all their office work every day. And, of course, walking versus sitting is even better for your calorie burning and overall health. Yes, jogging and running is even better but running has been shown to be better if you do it in moderation–so don’t run a marathon every day or every other day. That’s not good.

As I’ve said before, these are the reason that I love my Fitbit. It pushes me to compete with myself and walk and move more and more every day. Last week I did 155,000 steps! Ok, sorry … I’m bragging now. Here are some of the numbers for a 175-pound man. Calories burned totals listed are for 5 days at 8 hours a day.·

  • Sitting 5250 or 131 per hour·
  • Standing 7000 or 175 per hour (So you see why at work it’s a great idea to stand while working.)·
  • Walking 507 per hour·
  • Fast Walking 630 per hour·
  • Jogging 1225 per hour

The above numbers convinced me long ago to walk 3 to 4 hours a day which gives me around 20,000 steps a day. This has given me more energy and great health which in turn has helped me build more wealth along with keeping off the weight!

Although I’ve talked mostly about burning calories by moving and how that can help your health, never forget, when it comes to weight control, activity for calorie burning is important but it is not near as powerful as controlling how many calories go in the mouth.

Now how can great health lead to great wealth?

I think it is obvious, or at least for me it has been. Bottom line is that if you are not healthy and not feeling well, you most likely will not have the mental or physical energy and drive to work on building wealth for yourself. Virtually all my wealthy friends are very healthy, gaining energy and drive from their health, and have been that way most of their lives.

So, let’s all work hard and consistently build better health for ourselves. From that, we can gain more energy and drive to build our wealth to help ourselves and those around us.

Fighting Off Boredom Today and Tomorrow

February 20, 2017 by  
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I’ve been writing about having a personal breakthrough and how keeping a record of one’s thoughts through a journal can be very helpful. I’ve also recently found a few thoughts in those journals about how bored I had become since I retired and, again, my own, previously written down words, have motivated me to do something about it.

If you are retired you probably know what I’m talking about and if you are totally busy, working hard, long hours plus taking care of your home and family responsibilities, you might not hit that boredom thing very often. It’s funny how so many of us have thought of work as a bad thing but it really is a blessing, as many retired people would probably tell you.

So here is the question—what do you do if retirement has you bored out of your mind or, if you are not even close to retirement, you find yourself bored way too much regardless? Retired or not, what I’ve found, and continue to find, is that there are many different ways to cope with the boredom that can hit our lives.

The short answer to boredom is to get busy and stay busy! Other simple answers include pushing yourself to do more, challenging yourself, and setting goals with detailed plans. Specifically, it’s a really good idea to set goals that are well thought out and goals that fit with what you like to do, what you are good at, and what brings you joy and fulfillment. This might be a big goal, maybe something you’ve always dreamed of doing but didn’t go for out of fear. (If you haven’t already read the book, Feel the Fear and Do It Anyway, it’s a great book and I recommend that you get a hold of a copy.)

Big projects can give you a real mental boost even if they take months or years. I remember how fulfilled and not at all bored I was when I decided to have a new house built for me in Kauai! No, I wasn’t the guy who poured the cement or swung the hammer but I decided on the floor plan that fit my personality and what things I wanted so that it fit my lifestyle–like good indoor-outdoor living spaces. Then just about every day there were decisions to be made and stuff that kept me busy and during that time I was rarely, if ever, bored.

Keeping busy is a great antidote for boredom, and it’s certainly a better way to go than something like alcohol. Yes, alcohol will entertain you but it only works for a short time and it has some pretty big negative consequences for a person’s life and health, as most people know.

So, if you’re a bit (or a lot) bored, may I suggest you look for something to keep you busy, like a big project that really turns you on? If you don’t have anything in mind and can’t think of something, well, next week I’m going to make some very specific suggestions that I think will help most readers. And if you are just totally busy and never bored then don’t change anything and be thankful. But also know that circumstances can change so you might want to take note of some of my suggestions.

Break-Through Journaling

February 10, 2017 by  
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Last week I talked about writing in a journal and I shared that I had written some of my very negative thoughts in mine. These are words and inner feelings that I had never shared with anyone. But what the journaling did for me and these thoughts was amazing.

A few days after writing these thoughts down, I re-read what I had written. Man, oh man … what a powerful reaction I have had in the days since.  It has lifted me up and has enhanced and improved my life almost like magic. I was so very surprised that just those few words that I wrote down on paper could have such a powerful effect on me and my life. Here is what I wrote:

“I didn’t have total follow through yesterday on my writing list of my intentions or goals and in fact I am finding that for a long time now I’ve not lived up to my self-promises and I see that I’ve been so very self-critical and have been berating and beating up myself cause I’m just not perfect like I want to be. I’ve been seeing that I’m very hard on myself and I really don’t forgive myself much although I forgive other people. Maybe that’s why I haven’t been feeling very good for going on two years. Maybe I ought to start forgiving myself and take more baby steps that really can turn into giant progress toward my goals like I’ve preached to my readers of my blog. Hmmm … I need to think about that.”

I was very surprised that, within a few days of re-reading those words, I began to feel so much better and noticed that I was not being so hard on myself. I kept thinking about taking baby steps and so now I am not inclined to berate and beat myself up. I think that this change of mind set must be due to my writing down my inner thoughts and that the act of writing it down changed something in my brain. What a breakthrough!

So, I would suggest you give journaling a chance if you haven’t already. Write down your inner most thoughts, especially the ones that you are struggling with or are getting you down. Then put them away and read them a little while later and see what your brain does with it. I’m sure it will get you to think about it and find a way to help yourself feel better along with being a great way just to get it out of your head and safely down on paper where you can, literally put it away for a while. At least until you are ready for your own journal break-through.10

On the Way to 100

January 13, 2017 by  
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It’s early January 2017 and I’m sitting on beautiful Shipwreck Beach in Kauai.  It’s the perfect temperature with a slight breeze and as I’m writing I’m also listening and watching kids, grand kids and adults laughing, playing and having an absolute blast!  To be in a place like this doesn’t take tons of money but it certainly helps, especially if you live a thousand or two thousand miles away from a warm beach.

I’ve talked quite a bit about new year’s resolutions and goals in the last few weeks, especially talking about that big financial goal or resolution you need to set for you self for 2017.  I must say, that no matter how important financial goals are, setting goals and resolutions for your health is just as important, or I should say much more important!  Look at the billions of dollars that Steve Jobs had, but all that money couldn’t buy his health or save him from the grim reaper.

I’m surely not saying that money can’t ever help your health. It really can by providing better doctors, hospitals, and the latest and greatest hi-tech procedures and medicine, but what you and I choose to do, day by day, can greatly increase our odds of having good health. We could even live to be 100 years old and arrive there in pretty good shape.

A  article from August of 2015, titled “100 Wonderful Ways to Live to 100”, quotes a book called The Longevity Project written by Howard S. Friedman and Leslie R. Martin.  In the article, it is explained that the authors’ research showed that “being conscientious was one of the best predictors of longevity. That’s because people who are conscientious may be more likely to abide by healthful behaviors, may be less prone to disease, and may find more success in relationships and in the workplace.”

In addition to that observation, I would like to share with you a few of the other article’s 100 ways to live to 100. Then maybe next week I’ll share a few more of the 100 wonderful ways and my thoughts on those. I should also add that almost all the 100 ways are backed up by good solid research. Here are a few easy one to keep in mind:

  • Don’t dread getting older…adults who developed positive attitudes about getting older live more than 7 years longer than those who had negative attitudes.
  • Find a life purpose.
  • Walk a lot.
  • Go meatless.
  • Try to keep your marriage friction-free.
  • Get your Mediterranean diet on.
  • Stop smoking.
  • Drink alcohol (but only in moderation).
  • Cut the sugar.
  • Drink your coffee-but only in moderation.
  • Join the 1 percent.

beach 1Yep, rich people live longer. It’s been proven in many studies!

Oops! I’ve got to stop for a few moments while I watch crazy, young, testosterone filled guys jump off the more than 100-foot-tall cliffs into the water. My son-in-law just did it and survived and went back and did it again. Ugh. It’s very scary.  Maybe I should add to the list of my rules for longevity and health not to take huge risks, like jumping off a cliff or out of a perfectly good airplane, even if I have 2 parachutes!

Ok, that’s all for this week. There will be a few more next week. In the meantime, let’s all go to work on these and set some hard and fast new year’s resolutions for our health and longevity.

 

Lifting our Lives in 2017

December 30, 2016 by  
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As you look at or contemplate what you will be doing in 2017 and beyond, be sure to take a very hard look at the financial category. Life is certainly much more than just money but with plenty of money your options and success with many of your other goals in life can be greatly expanded.

For example, I just discovered that before the great actor and governor of California, Arnold Schwarzenegger, was famous, he became a millionaire from … yep, you guessed it … investing in good ole real estate! So even if you’ve not yet started an investment program you can do so now with savings and investing goals for 2017. It may take some time to build your fortune and you may feel you have so little to contribute right now, but try never to forget the huge power of compounding your money. Compounding can multiply even a very small amount of money into millions of dollars. Certainly Arnold knows that from his experience and so do I.

Eight years ago, when I starting writing my weekly blog it was almost exclusively about taking a small amount of money and wisely investing it, mainly in real estate, to build a fortune for yourself or at least for you to make enough to live very comfortably and retire without ever diminishing your lifestyle. But I’ve also written about health and well-being, relationships and friends, and traveling to broaden one’s perspectives on living, along with many other subjects. But I’m thinking now that as we face another year it would be wise to refocus our attention and goal setting back to that money thing that can lift so many parts of our lives including the lives of those around us.

In the foreword of the book Tools of Titans, the author Tim Ferris quotes Schwarzenegger’s thoughts not only about real estate making Arnold a millionaire but about his many other accomplishments. “I am not a self-made man,” Schwarzenegger says. “I got a lot of help … I stood on the shoulders of giants,” which was his way of giving credit to his parents, coaches, and teachers.

We all need to realize and give so much credit to others that have helped us along the way and then step up and let others climb on our shoulders to lift them up. For me I give tons of credit for my success to my wonderful parents and to the great Bill Nickerson and what his book, How I Turned $1,000 into a Million in My Spare Time, did for me. I also need to credit the great Denver real estate guru, – who took me under his wing and showed me exactly how he turned a few thousand dollars into multi-millions over the years. You can read more about that great story on my June 24th, 2016 blog.

I’ve tried to help others through my investing advice, directions, books, lectures and conversations. I have received rewards of great appreciation and many thank-you’s which are worth so much more than money. One of my resolutions for 2017 is to be more helpful to others. To accomplish this, I need to go to work right now and write down the details and specific steps or actions that I am going to take to accomplish that very goal. What are your goals and do you have them written down yet? If not, let’s do it. There is no time to waste.

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