Surprising Reminders

It had been quite a few days since I’d been to my office, but when I went in recently, I was surprised to find 3 books on my desk from years ago, all signed by the authors. I took them home with me to refresh my memory as to why they were out.

The book that really caught my attention was Leadership Fitness by Homer Rice, so I re-read parts of this great book. I didn’t remember Rice from past years, although I’m pretty sure I did meet him. I was, however, very pleased to see that the foreword was written by my very good friend Paul J. Meyer. Paul was a very smart guy who made a fortune and became my hero and mentor. Sadly, he passed away a few years ago.

Paul really liked Rice’s book. He made this statement about it: “Homer identified, from his comprehensive reading, the significant elements of success: attitude, desire, belief, visualization, spaced repetition, habits, and focus.”

I was super surprised at how much I learned going through Homer Rice’s book. He reminded me of things I knew but had stopped using. Oh yes, he wrote about things that I had been writing about and preaching at my seminars, like how critically important it is to set goals and how super critical it is to write down those goals with a time limit on them. But what I hadn’t done in the past was to set goals in all the many other areas of my life.

Homer Rice writes that a person should set goals in every part of their life, not just in regard to business and money. Goals for family, friends, donations, traveling, and more should be included. For example, travel goals for me would include going to different cities and neighborhoods, as well as different countries, especially since the mind and the body really crave novelty and making lists. Putting a time limit down to accomplish those items helps tons in seeing them get done.

Reading through Rice’s book, I became really motivated to set more goals and go after them with energy and passion. Although I was surprised at how inspired I became re-reading this book, the real surprise came at the end of the book where he listed “Suggested Titles to Read”. In that list of books, I found Financial Genius by Mark Oliver Haroldsen. I was surprised and even a bit shocked to see my name. Remember, I’m not sure I ever met him, but he knew me, or at least knew of me.

I’ll try not to get a fat head over his recognition of my book. I totally love helping people and seeing so many people become super successful or more successful is just as much of a thrill as having that success myself.

So, I do encourage you to pick up Homer Rice’s book, Leadership Fitness. It’s very helpful in many ways that go way beyond just making money. You might also want to look up some of the work by Paul J. Meyer. These are two really smart men who have a lot to teach us.

The Magic 10%

Last week I wrote about the basic and beginning key to great wealth for those of us who start out with nothing, like I did. That key is ‘savings’. A couple days after I posted last week’s blog I saw a great summary on ways to save money in the USA Weekend Publication. Its suggestions included things like buying a used car rather than a new car, always shop for better bargains, set spending goals and budgets, refinance your house at today’s lower interest rates and more. These are things I’ve always preached. It comes down to buying only what you need vs. what you want and mistake for things you need.

It might be easier to put away that savings if you take a look at the huge potential in that 10% you are putting aside. I know it seems simple to put aside 10% but for most people it’s not that easy. In my book The Next Step to Waking Up the Financial Genius Inside You I talk about how to save that 10%. Many years ago when I was making a starvation wage of $600 dollars a month, I was faithfully saving $60 dollars each and every month and then when I got a $40 dollar raise I decided to add the entire raise to the $60 dollars–so I was saving $100 dollars out of $640 or 15.6% of my monthly income. Yes it hurt sometimes because I had to go without things I wanted, but was it ever worth it in the long run.

You would do all of this if you truly wanted to be very wealthy rather than just being like everyone else who lives paycheck to paycheck. But now let me reveal to you a little fact that may entice you, shock you, and motivate you to do the ‘savings thing’.

Back when I wrote the third chapter entitled “Action Two, Saving the Magic 10 Percent” I had a friend who was paying a 10% tithing to his church and when I pointed out to him what he was really giving up he was shocked to the core. Please don’t get me wrong. I am not against charity but the thing is, if you want to be independently wealthy, you must pay yourself first. What I told him was that If you start at age 25 saving 10% of your wage, and assuming you only make $30,000 dollars a year and (get this … you stop saving at age 30) you will have over 7 million dollars when you hit age 70! And believe me, that big 70 comes much faster than you think!

Granted those numbers all depend on you investing your savings with an annual compounded return of 15% but wait before you jump to conclusions and think 15% is unrealistic and can’t be done, because it can. If you work harder and find the right deals you could even push that rate of return up to 20% which would be an astounding 47 million dollars by age 70. Amazing, isn’t it? Next week I will show you exactly how to do that. I’ve gone over this before but its well worth repeating.

Your Own Financial Genius

Years ago after writing my first book How to Wake Up the Financial Genius Inside You people started calling me a “financial genius”. My typical response was “Thanks, but I am no genius or a financial genius! I am just an ordinary guy who got through high school with a “C” grade average.” I would then explain that the millions of dollars I made were due to following a simple formula that my multi-million dollar mentor, Larry Rosenberg, shared with me–the same formula that I have shared with you in my book.

Fast forward many, many years and many more millions of dollars. I was recently shocked when, just for fun, I Googled the words “financial genius” and saw my name come up just above Warren Buffett and Albert Einstein (since I first looked at this Google page, I moved from top of the list into second slot and Warren Buffett was replaced by Alan Greenspan.) My name was there as part of Amazon’s website and shows my original 1976 edition of How to Wake Up the Financial Genius Inside You, available for $12 dollars and the revised edition called The Next Step In Waking up the Financial Genius inside You, available for $24.50.

Seeing my name and book listed so predominately on the Google search has motivated me to offer all of my blog readers a REAL DEAL! The timing of this is particularly, serendipitously and financially very, very important. Why? Because right now with today’s much reduced prices combined with the incredibly low interest rates, you would have a tough time finding a better period in modern history to apply my simple but highly effective “million dollar strategy” ,which really is the strategy that wakes up anyone’s financial genius.

Right now is the best opportunity for buying properties you can fix up and flip or just rent with huge rates of return. Go ahead and Google “financial genius” right now and see for yourself the comments on the old book like the one Jason from Colorado sent saying “The numbers are from 1976, so add a zero to most of them and it translates well into modern day.” Or from Dallas, Texas W.E. Wyatt’s comment “Change the numbers and this book could have been written this year. The principals remain the same.” And folks, that’s comments about the 1976 book!

Let me tell you about the revised book The Next Step in Waking up the Financial Genius inside You. It’s bigger and better and if you or someone you know wants help with making a fortune, I will help you out right now.  Email me at moh@reincome.com or call the office at 801-307-2787 and ask for Malinda and I will send you the new edition for only $9.95 with no shipping or handling charges—if you want both the old edition and the new—add 5 bucks.  You need to get started right away since interest rates are beginning to slowly climb as are prices of properties!