The Adversity Letter
I’m honored to have Richard Paul Evans as a friend. He is a superb author and a great human being. Ok I guess I also suffer from a bit of jealously. He has sold over 17 million copies of his books against a measly 2 million books of mine that I have sold. Rick’s books have been instrumental in lifting and enlightening countless numbers of people throughout the world. His latest book The Four Doors is a must read for anyone who wants or needs to be motivated and uplifted.
The 3rd door that he talks about that will help anyone and everyone is labeled “Free Yourself From Limitations”. In this chapter he gives very wise advice, telling of the great dangers of falling into the victimhood trap. I am sure you have seen many people who do this— always “playing the victim”, looking to gain some sympathy and support from friends and family. What they don’t seem to realize is that it’s a no win habit that will put severe limits on their life.
What really grabbed my attention in this chapter and made a huge impression on my brain and in my heart was “A Father’s Letter to His Son”, which I immediately sent to my sons and daughters. I quickly received “thank you” comments back from my kids. I’d like to share this letter with you here.
A Father’s Letter to His Son
Always, always remember that adversity is not a detour. It is part of the path.
You will encounter obstacles. You will make mistakes. Be grateful for both. Your obstacles and mistakes will be your greatest teachers. And the only way to not make mistakes in this life is to do nothing, which is the biggest mistake of all.
Your challenges, if you let them, will become your greatest allies. Mountains can crush or raise you, depending on which side of the mountain you choose to stand on. All history bears out that the great, those who have changed the world, have all suffered great challenges. And, more times than not, it’s precisely those challenges that, in God’s time, lead to triumph.
Abhor victimhood. Denounce entitlement. Neither are gifts, rather cages to damn the soul. Everyone who has walked this earth is a victim of injustice. Everyone.
Most of all, do not be too quick to denounce your sufferings. The difficult road you are called to walk may, in fact, be your only path to success.
Wow, what a super great letter and one that if your kids, friends or you yourself follow, will greatly enhance your life. Rick goes on to say “Everyone has problems. It’s how we choose to deal with our problems that matters. Some people choose to be whiners–some choose to be winners. Some choose to be victims–some choose to be victors”.
So go ahead and make your choice and also I would say go buy Richard Paul Evan’s great book The Four Doors.
Improvement by Measuring
Some studies have shown that just about anything that you take time to measure or count on a regular basis tends to improve or get better. If you keep track of and start measuring your financial net worth or you physical health for example, they will almost magically start to improve. Perhaps you’ve noticed this in your own life. If you decide to lose a bit of weight and you write that goal down and start to track your progress on a daily or even just weekly basis you will probably see that you are making progress.
When I was just 27 years old I started calculating and measuring my financial net worth after setting a goal to hit a net worth of one million dollars by the time I was 30. I began measuring my net worth every few months. What happened? Well, I must admit, that even though my measuring seemed to help lift my net worth I didn’t make the million by age 30. I did, however, hit that magic million dollar mark by my 31st birthday. I didn’t think that was all too bad.
To test this theory of improving things by measuring, I recently bought a pedometer. It’s a little inexpensive device that you can clip on your belt or pocket that counts every step you take. Then without even setting a goal for walking or running I starting observing how many steps I would take each day. I would then write down the total steps taken at the end of the day. I was a little surprised that even without a goal, the total number of steps I took each day was generally greater than the previous day. Wow. That made me feel so good.  As most of us know, it’s critically important to stay active, even more so as you age. Movement is a kind of magic for the human body and essential if you care about staying young or at least feeling young.
The first few days I logged between 5,000 and 7,000 steps per day. But then, without consciously thinking about it, those steps per day increased to between 10,000 and 12,000 per day. Wow. A couple weeks later I was stunned to see that I was consistently walking between 16,000 and 19,000 steps with some days hitting well over 20,000! And remember, most of that improvement, or maybe all of it, came from simply deciding to keep track. Perhaps it’s just being more aware of the activity—we already know awareness is a critical key to a successful life– or perhaps there’s some unconscious self-competitiveness going on or maybe a little of both, but whatever it is, it does work.
Why don’t you give it a try and see if it works for you? Measure anything that’s important to you and those around you. In fact for starters and as a way to prove the point to yourself, why don’t you go online right now and buy a pedometer and if you see that the simple measuring of steps, works then start measuring other things in your life. This whole concept brings to mind an old management saying, “You can’t manage what you don’t measure”. How true that turns out to be!
The Key to a Great Life, At Every Age
When my wife Kimberly and I were riding on the Eurostar from London to Paris, (I highly recommend you ride that if you get the chance!) I overheard an American guy behind me telling a Frenchman how sad it’s going to be in a few years when, in his opinion, Social Security will be bankrupt and people won’t be able to retire or they may (God forbid) have to work till they’re 68 or 70 before they can retire. I heard that and thought, “Really? It would probably be a good thing!â€
I started back in on this topic last week, I know, but it’s so important to realize that you get very little out of just sitting around, relaxing and doing nothing … at least not in the long term. A little downtime here and there and when on vacation is great but overall, work is what will keep you going and make you feel alive!
I was very impressed recently when my wife and I bumped into Robert Redford. He is so engaged and active and he still looks great to boot. He has just a few more wrinkles but at 77 years young he’s still working hard. He has a new movie coming out this year, “ALL IS LOST”, which struck me as a great phrase to add to this conversation. What I’m trying to say is, if you stay active and keep working then ‘All is NOT Lost’ but without work and goals and a really great reason to get up every morning, it might feel that way.
Having a purpose is critically important for every human being. A big driving purpose will keep us alive, active, and excited and can boost our self-esteem, keeping it up there where it should be. So don’t look at your Golden Years as the time to step back and do nothing. Think of it as a time to set new, huge goals, to renew your zest for life. That’s really what my book, How to Ignite Your Passion for Living, is all about—keeping that passion going by working on big goals with new challenges whether you’re 30 years or 50 years or 80 years young! An active life is a great life, at every age.
Just a little fun side comment about Robert Redford … as we were chatting I said to him “Oh, I see that my wife was kinda hitting on you,” and Redford quickly replied “Yes, and she missed.” A good and quick quip from a pro. I’m sure he’s had lots of practice!
Don’t Retire–Keep Engaged!
A few weeks ago my message was all about how critically important “Work” is for every human being on the planet. Well, I was waiting to catch a flight from Paris to Salt Lake City earlier this week and when I saw the cover story on Fortune Magazine. It really grabbed my attention. Why? Get this … the story is all about a 72 year old guy who is still working his buns off and risking huge amounts of money. Shouldn’t he be retired and taking it easy?
Ok you could assume that maybe he needs the money and can’t retire yet. But no, he’s a multi-billionaire! So why then is he still working and on top of that risking mega money to develop what Fortune calls “America’s Biggest Real Estate Project …Ever”.
I will tell you at least one very good reason why. Because he knows that to retire and just sit by the pool drinking Mai Tai’s–which he certainly can afford to do–will greatly diminish, if not totally destroy, his physical and mental health and at the same time it will do major damage to his sense of self-worth. So instead of letting himself wither away, Stephen Ross, the 72 year old I’m speaking of, is working on a 20 billion dollar project that is set to reinvent a huge swath of New York City. That would keep someone as sharp as they can be and certainly engaged!
As anyone who has been reading my blog knows I am closing in on the big 70 (only 200 days now), and I find myself, even though I don’t need the money, looking for and engaging myself in more and more projects and adventures (like these last 3 weeks in Europe.) I find that the harder I push myself towards social, physical, and financial goals the better I feel. However, because I don’t need to do anything at all I need to push very hard to stay active and keep on working! But I always see the result and I can tell you, it more than just a little worth it.
I think you can probably tell that I am trying to push any and all of my readers to do the same. Even if you are still young and not facing the 65 year old retirement number or are already pushing yourself towards big goals you can probably still be much more engaged and excited by setting even tougher goals. Plus you could encourage your parents, siblings, friends and neighbors who might be on the verge of retirement or already retired and give them a gentle nudge (or a kick in the butt!) to encourage them toward enhancing their lives by more fully engaging in work and staying super active in all parts of their lives. They will reap such huge rewards if they do.
Experience a Great Lesson
Most of the time the best way to learn the great lessons of life are through experience. And, wow, I sure saw the truth of that the last few days. What is kind of crazy is that just a handful of days before I had read about this exact same life lesson I recently experienced and skimmed right over it not learning a thing.
What lesson am I talking about? I’ll tell you but let me back up a bit first.
Right now, as I write this I am flying from Rome to the island country of Malta. It has taken this great getaway vacation, traveling from Paris to Rome to Brindisi to Malta and eventually to London, to learn what a few simple words in a book had just tried to tell me. This lesson is very simple but in our fast paced high tech world too many of us are forgetting about it, losing touch, and it is hurting us.
So what is the huge and simple great life lesson I learned or I should say relearned? Well, when you need a quick but solid mood boost, get up off your butt and go outdoors! See, I told you that it was simple. But it is no less important than any of the other great lessons in our lives. Just a bit of “green exercise” has been proven in ten different controlled studies to decrease stress, boost mood as well as self-control, and even enhance your ability to focus. All that from what might be just a 5 minute walk around the block.
I had read all this and agreed with it in my mind but it didn’t really hit home until I was cycling around the south of Italy. Then I felt it. And wow, it made such a huge difference in my mood and my mental clarity. I could sit here and just tell you about it but my own experience showed me that you really need to just get out and experience it for yourself. Remember the studies on this showed great improvement in the above categories with even very short outdoor time. So why don’t we all start adding this simple habit to our daily routines? Yes, take your kids cell phones and I pads from them and kick their butts out of the house too. It is a great experience for everyone.
Beating Yourself Up vs. Forgiving Yourself
My daughter Cammy teaches yoga and has persuaded me to go a number of times–and yes my creaky body certainly benefits from all that posing and stretching–but her comments to the class at the end of each session finally got through to my brain. I’ve been over the top surprised about what a powerful and life enhancing message she was delivering all this time and it had totally passed me by.
Her simple statements didn’t sink in until I was re-reading Kelly McGonigal’s wonderful book The Willpower Instinct. My daughter would end all of her yoga classes saying “Thank yourself for putting forth the effort to come today and please cultivate more and more compassion for yourself–don’t be hard on yourself.” I’ve always thought her words were pretty good advice but WOW have I made a great discovery that puts those words in a category much, much greater than just “good advice”. Let me explain.
Anyone that reads my blogs knows I am a huge advocate of setting lots of goals, and tough ones, for yourself. I preach that all the time to anyone who will listen. My big time discovery is that I realized that when I fell short of my goals I’d been doing exactly the wrong thing to myself, the very thing that hurts me and makes it even more difficult to reach new goals in the future. What I’ve been doing (and you probably have been doing the same thing) is this: When I fail or fall short of a goal I beat myself up mentally and I certainly don’t have any compassion for myself. I, like most people, think that if I forgive myself for falling short of my goal, I’ll just do it again. However, that is simply not true.
As it turns out, research done by two psychologists from Louisiana State University and Duke University show that it’s forgiveness of self, not guilt and beating yourself up that increases your accountability. I was shocked. I read this in McGonigal’s book where she goes on to say “These findings fly in the face of our instincts. How can this be, when so many of us have a strong intuition that self-criticism is the cornerstone of self-control, and self-compassion is a slippery slope to self-indulgence?” But in this case our instinct is dead wrong!
This very smart and well-spoken author also mentions that “One reason forgiveness helps people recover from mistakes is that it takes away the shame and pain of thinking about what happened. The what-the-hell effect is an attempt to escape the bad feelings that follow a setback. Without the guilt and self-criticism, there’s nothing to escape. This means it’s easier to reflect on how the failure happened, and less tempting to repeat it.â€
Isn’t that fascinating? We’ll talk more on this subject next week but in the meantime try forgiving yourself daily for any failure or falling short of what you have set out for yourself. Take time to give yourself great dosages of compassion and, yes, it’s okay to love yourself and a lot. Talk to yourself and give praise and love like you would to a kid that you love.
The Biggest Leap is the Small Step of Getting Started
Last week I spoke about the key to reaching your goals–taking small but regular steps towards what you want. The reason this works is because the small steps seem so do-able while the big leaps can feel overwhelmingly huge. Giving yourself just one small step at a time makes your tasks less daunting and you are more likely not just to start them but complete them!
For example, I apply this concept to my daily work outs to push myself to get them done. On the many days that I don’t want to climb on the stair master or put time in on the elliptical machine or go on a challenging mountain hike, I make a little deal with myself. I say, “Ok, since I am very tired or in the wrong mood I am only going to work out for just 5 or 10 minutes†Then, with only that minimal time to cover, I begin, knowing in the back of my mind that just “starting” is sometimes the very hardest part and knowing from experience that when I get to 5 or 10 minutes I will almost always just keep going.
This approach works for just about anything. I put myself in this mindset of just starting with a small goal to get myself going on my daily business tasks (especially since I really don’t have to work if I don’t want to), to the writing of this blog, or even working on a new book. Always keep in mind that just the “starting” can push you to make that big breakthrough on any project or goal that you have. Take that first step and you will see that the next steps follow more easily not to mention you will have the momentum of already working on it to keep you moving forward.
So what are you dreading doing today? Just set a small goal to get you started and see where that takes you. Daily small steps, daily small goals, even daily small acts of kindness and charity tend to compound and grow to be huge successes and can change your history, your life, make you famous or make you a fortune and even change, for the better, the history of the world. You’ll just never know what you can affect until you start!
How SSS may be Killing Dreams
Whether you want to hit it big financially, physically or just plain want to be famous, SSS may be the cruel “killer” of your dream! What is SSS? It’s simply the perceived notion of instant or overnight success in anything. It stands for “Super Star Syndrome”.
Believe it or not the super quick success of people like Mark Zuckerberg of Facebook fame or the late, great Steve Jobs of Apple Computer can kill your big time dreams. How? Because what you see and read can make it seem like the billionaire ranks were made virtually overnight. So this kind of super-fast success gives too many people the idea that an overnight fortune, instant fame, super quick weight loss or getting into Olympic shape can be accomplished almost overnight. Those thoughts and ideas are stimulated and reinforced through so much clever advertising.
You’ve seen it many times–those promoters that have something to sell can be pretty enticing with their promise that you can lose 25 pounds in 30 days “guaranteed!” or make a fortune in 6 months with their “Sure Fire System”. Of course then they always show you several examples of people who used their method with tremendous success so even though you don’t know if those few testimonials are really true, their suggestion that it could also happen to you is brain washing you into thinking you will have that kind of success. You just have to buy into what they’re selling and it will happen!
The big problem is that some people do really reach super success nearly overnight and, yes, it is possible … for a very few, very select people in the world. Such success is so insanely rare and often more of a fluke of luck or timing—a combination of circumstances with aspects these people had no control over—that made it happen! But for 99.9999% of people it just ain’t gonna happen! And if you keep holding onto the thought that overnight success is just going to drop in your lap, that waiting game will eventually kill your big dream. Your dreams take action, not just more dreaming.
For the vast majority of people super success in virtually all things in life are achieved one step, one deal, and one hour at a time. If we burn that message into our brains we will keep moving forward knowing that success can be and will be ours in the long run. My wealth hero’s that gave me inspiration and motivation were guys like Conrad Hilton, J.W. Marriot, and McDonald’s Ray Kroc or more recently, Warren Buffet. It took these people many, many years and one step at a time to reach the point of “Super Success”.
To me, the real key is fully understanding that it takes lots and lots of baby steps, but those baby steps will eventually take you great distances. If we understand that principal and apply it daily it helps keep us going. So let go of the idea that you will end up with your dreams realized by sheer chance or by some guaranteed system or product. Do the work, one little step at a time and it will happen!
In Search of the Right Income Property
Don’t let the title mislead you—there is no such thing as the perfect property, just as there no such thing as the perfect spouse, car, child or job. But there are certainly “good” properties and even some “great” properties as well as “good” financing and “great†financing. By the same token there are some real bad properties around, waiting to snare you. I want to steer you in the right direction towards the right property for what you are after and keep you from ever giving the bad ones a home in your portfolio.
First, decide exactly what it is you want out of your investment. Why are you buying a piece of income property? Be specific. Are you after a lucrative cash flow? Or do you want a profitable overall return? Is it for the cash flow in addition to the tax savings and what you might get after you do some “fix up” work?
In addition, a novice investor must understand the alternative types of real estate investments available to him or her. Of course, there are the residential types of investments including houses, duplexes, apartment, rehabs and others but there is a myriad of other income-producing properties which fall in the category of “beyond residential”. A few examples would include gas stations, small strip malls, mini storage, motels, and retail shops.
This second category is too often overlooked by beginning and even experienced investors. If you’re looking only at the residential properties in your area, you’re missing the entire menu. There are commercial properties that fall into the lower ranges but because commercial is often thought of as being for the big time investor, the smaller guys don’t look there. But think about it … why would there not be smaller commercial investments just as there are smaller residential investments? It doesn’t matter what kind of property is it, just that it’ll get you the best return for your investment dollar.
Also consider that property that might have been residential or commercial when you bought it can be converted to take advantage of better income producing options for the area. Vacant gas stations have been leased to counties as libraries; motels have been converted to office buildings or housing for the elderly; mini-warehouses have been built out of other commercial spaces behind sub divisions or trailer parks where storage space is scare and small warehouses have been converted into loft type apartments or duplexes. There are many potential gold mines in commercial or “beyond residential” property.
I’m certainly not saying that commercial or “beyond residential” property makes a better investment than residential. I’m merely trying to point out that when you go looking for the perfect income producing real estate, don’t limit yourself to the residential category alone. Look at the full menu.
And lastly, don’t forget now is a particularly great time to be buying income real estate because prices are near historical lows relative to income and interest rates, even though they have moved up a bit in the last month, are still at very low! So doesn’t hesitate. Get out there, look at all the options and put your money to work!
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!
