Find Your Formula

Having a ton of money does not make for a perfect life and I’m pretty sure that most of you would agree with that. Still, a lot of what I have written about in my life is about making big money because there are lots of great things and big benefits that large amounts of money can do for you and those around you. I think my readers here would probably agree with that too. But, if people know how great wealth can be for them, why are most people not wealthy?

I’m pretty darn sure I know the answer to that question and it’s not one of the answers many people might think it would be. Not having wealth isn’t because they …

… don’t have a very high IQ.

… didn’t earn a college degree from a top school.

… didn’t win the lottery.

… didn’t come up with a stunning new invention.

… didn’t get a big inheritance.

So, if those are the reasons why most people aren’t wealthy, then what is it?

Well, there’s actually several reasons, but the biggest factor is a failure to follow or use a proven formula or plan. And believe it or not, that reason is a pretty darn simple one to do. Notice that I didn’t say it was easy to do. Following a formula or plan can take a lot of hard work and it does take time. But once you have a plan, you simply follow it.

Sure, there are a lucky few that make fortunes almost overnight, getting a big inheritance, discovering a new invention, or winning the lottery but those cases are very, very rare and can’t provide most people with a way to wealth. Most fortunes are made over many, many years by following a solid, time-tested, and proven financial formula.

It’s rather sad that so many people still think and dream of the day they are going to suddenly “strike it rich”. That myth is constantly fed by the rare but widely reported occasions when someone does get lucky. Those very exceptional cases are magnified by the media, and it keeps people holding on to “the dream”.

But winning the lottery or inventing the next big thing is not something you can plan for, much less depend on. Planning and finding a formula that works is the only way to make wealth happen for you. There are never any guarantees but if you plan, work hard, and keep at it, you are more than likely going to reach your goal and you’ll certainly be much better off than if you sat around waiting for wealth to find you.

So, don’t just dream about having large amounts of money. Do something about it. I have sure-fire formulas that you can read about in my books like The Next Step to Waking up the Financial Genius Inside You. Find your formula, make a plan, and get on track to improving your life with great wealth.

Biden’s Hard Work

Last November I wrote my blog about meeting Joe Biden at a house of a friend of mine. I was so very impressed by how intelligent he was. He was also such a nice down to earth guy.

So, yes, I was very delighted that he won the election and is now our president. I’m confident that he will be great for our wonderful nation. And now, of course, I will be showing off the picture of the two of us that I put in my previous November 15th post. I’m sure he loves the picture and he’ll never forget me… ho ho ho.

But, yes, I will put the picture of Biden and I on my home office wall along with the many other famous people I’ve had by my side. And, yes, I still have the big sign above all those photographs that reads, “People Who Don’t Know Me”.

But all joking aside, this past week has brought to mind my deep appreciation for the country that I live in. I’ve traveled the world and visited more than 90 countries and even lived in the middle eastern country of Turkey for a time. I’ll never forget being awakened by gun fire and explosions near our apartment when I lived in Turkey. I ran to the balcony and looked out at hundreds of soldiers and their guns. We were right then living in the middle of a military revolution and a chaotic overthrow of the government. It was quite the experience.

What I have seen in Turkey and elsewhere has helped me realize how proud, pleased, free, and safe I have been living in this great country called America. I am quite confident that the next 4 years will make us an even better country and place to live.

I do have confidence that President Biden will be instrumental in bringing Americans closer together, regardless of our political differences, education, or wealth. I’ve been reading a bit about Joe’s background and it doesn’t surprise me that he has done so much in his life.

Biden is a very hard worker, so much so that in high school he was the star of the football team and led his team to a perfect undefeated season, making many, many touchdowns himself. If you want to be one of the best in almost any field, it takes lots and lots of hard work and time.

I know this from my own personal experiences, both in business and sports. When I was in high school, I set a goal to be a great basketball player and spent 4 to 5 hours a day practicing. My biggest specific goal was to help my small American high school in Ankara, Turkey win the big American basketball tournament in Rome, Italy. And, yes, we did win the tourney and I went on to get a basketball scholarship at Utah State University. That was the good news. The bad news was that I mostly sat on the bench there. Oh, well. I hit my goal of being on the team at least.

Joe Biden certainly knows and applies those ideas. He takes lots and lots of time and puts in a ton of hard work. He’s done it big time now as the President of the United State of America.

 

Is Financial Freedom Worth It?

Many of us want to achieve something big or great, but before you can do this you must have a dream. Your starting point is a vision, a goal, whether you want to be a great artist or a great athlete or a great statesman. The same principal applies to financial success. One doesn’t just wake up one day and find oneself the richest person in the world. Success must be earned, which to most of us seems obvious but some folks just don’t get it.

The good news is that it can be earned and in a relatively short period of time. Knowing that makes the effort much more worthwhile and should encourage more people to dream big and set big goals.

HOW MUCH DO YOU NEED?

We all have difference wants and needs requiring different levels of income to feel financially free. Some people would require $10 or $20 million or more before they would consider themselves financially independent. Others would need only $500,00 or a million. Still others may need only $2,000 or $3000 more a month to be able to live as they wish.

What is financial freedom to you? How much income or net worth would you need before you would consider yourself financially free, having income that comes to you without much or any effort on your part? How much is enough to allow you to do exactly what you want to do, when you want to do it?

Finding that figure should be the first step toward reaching your new goal so set your goal and make it specific and, of course, write it down with a time frame or deadline.

IS IT REALLY WORTH THE EFFORT?

The next step is to decide whether or not the effort it will take to reach financial freedom will be worth it to you. You not only may have to work very hard and long but you may have to constantly defend, or chose not to defend, yourself against those who consider money to be bad and think you are just being greedy.

Of course, making lots of money can be either a good or bad thing, depending on what you do with it. Money has many powers. Money can free someone from drudgery and from feeling trapped doing a job that they hate. It can be, and usually is, a measuring stick, an indication of progress. It’s stored up industry. It is achievement and accomplishment made negotiable.

Aside from all the hard work and how having money is perceived, the most important consideration of all is the journey itself. At the very beginning you must ask yourself, “Am I willing to make the necessary sacrifices and take the necessary risks on the journey?” If the answer is no, you should reevaluate your reasons for wanting to make the journey in the first place.

Personally, I had many reasons as I set out on my journey to make many millions of dollars. I highly valued the great freedom of traveling the world and helping other people along the way and trying to truly make a difference. For me, the hard road that I had to go down was well worth all my efforts. But only you can decide for yourself if it’s worth the sacrifice and energy you’ll need to put into it.

A little footnote … if you already arrived at your financial goal, I would suggest you send this blog on to your kids or grandkids or someone that you think would really like to hit it big. Being an example and encouraging others is just one more thing that reaching your financial goals can do for yourself and others.

 

You Need Work and Breaks to Appreciate Both

So many people retire and shortly after retiring they stop doing things, stop going places and stop pushing themselves. Then they stop permanently and totally. They assume “room temperature”. Yes … I mean they die, long before they should! Retirement doesn’t mean inactivity. Just the opposite.

Some people worry they might push themselves too hard. But the thing is, if you keep busy and then take breaks regularly, both the hard work and the time off will be much more rewarding and enjoyable and keeping a balance between them will keep you from pushing yourself too much.

Kimberly and I have been really working hard on her recovery from her surgery and a half dozen other projects.   In fact we’ve been so busy we almost cancelled a quick trip to Las Vegas to spend time with our great Swiss friend Reto Moro and his beautiful daughter Anna and her friend Anouk.  But thankfully we pushed ourselves to “take a break” even though it was only for 2 days. Wow what a great and refreshing break it was.  Not so much for the excitement that comes from that crazy city of action and shows and such but from getting together with great friends. I met Reto and his mom quite by accident, almost 30 years ago on the tennis court in Garmish Germany and we’ve been great friends ever since. It’s such a treat to spend time with them and the perfect break from our busy life.

The bottom line—and yes, I was chatting about this last week but it can’t be said too much—is never stop pushing yourself to stay active, regardless of your age, but also remember to never make “your pause” or “your break” a permanent state of living. You need both to appreciate either!