Crushing Boredom

As I promised in my last post, I am bringing you my ideas and a list of different and exciting ways to overcome that nasty thing called boredom. Before I get into that list, however, I must share with you some thoughts about boredom and the effect it can have on a marriage.

As I’ve been thinking and writing about boredom I was struck by the thought that boredom may well be a common cause and a big reason why seemingly happy couples get a divorce and why a husband or a wife ends up having an affair when all seemed to be going so smoothly.

My wife and I had a very interesting discussion on this subject just the other morning. Recently we’ve realized that we need to push ourselves to make lists and plan for new and exciting things we should be doing because we have kind of settled into a very routine and ‘same-ole-thing’ pattern. I can’t speak for her but I have been getting quite bored. So, we began to talk about doing new things like going to new restaurants, trying new foods, going to new cities and countries, and trying all kinds of new and different stuff including making new friends.

As we were planning it struck me that it is so very natural for a couple that have been happily married for many years to move into a pattern of living that could easily become very boring. In that state, if a new person with a totally diverse lifestyle and background came along, a bored person could be enticed into thinking this new person was very special, not realizing that the real problem is boredom and that new person is not the answer.

So, okay, maybe a new person would take you out of your boredom for a while but eventually the same boredom will creep right back in. I can see how it can happen to a happy and compatible couple so I think that is an extra reason to spend time putting together a list and planning for new and exciting goals, projects, and fun adventures so as to push boredom away and make sure it stays away.

With that in mind, it’s a good idea to work on your list now. With the internet, it’s really a breeze to come up with a list of stuff that will get you away from boredom and keep you excited and involved with life and all the great things that life can bring. To start, just do a web search for “list of ideas to overcome boredom” or anything similar to that search and you’ll come up with list after list of activities and projects that almost certainly will lift anyone out of boredom.

Here is just a small sample of items gathered from several of those lists that grabbed me. And after that list I’ve complied a short list of items that did nothing at all for me but would no doubt work for some of you. To each his own and we are all certainly different.

So here are the items that grabbed my attention:

• Take new trips to new cities, countries and places
• Play tennis (Or, in my case, play more tennis.)
• Go cycling
• Take long walks to different places
• Volunteer
• Write an autobiography
• Start a blog (Oops, I already did this one!)
• Become a tour guide
• Become a mentor
• Teach a class
• Research your family genealogy

And the things that didn’t grab me but might be just the thing for you:

• Knit
• Create crafts
• Take cooking class
• Go hunting
• Go fishing
• Restore old furniture
• Be a pet sitter
• Plant a garden
• Go bird watching

Believe me, you will find dozens and dozens more ideas on the internet plus you can always ask for suggestions from family and friends. Ask them what they think would really appeal to you and would excite and enhance your life. They may see what you need better than you do. So, go ahead and get started on your boredom crushing list right now!

 

Lifting our Lives in 2017

 

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 24^th, 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.

Rewards Beyond Fortune and Fame

 

When I was young I was so very much into myself.  I craved success, financial and non-financial.  Oh man, how I wanted to be rich and famous! I went after both with great passion and energy. I worked hard and long to reach my goals. They consumed me!  And after many years, it paid off. I made millions and even got my 15 minutes of fame with a segment on Tom Brokaw’s nation wide NBC news show and a front page story in the Wall Street Journal. And yes, I thought I was pretty hot stuff. It was all very satisfying and rewarding.

However, over the years my idea about what is truly rewarding changed. Just 2 weeks ago I received the richest reward I could hope for, one that far exceeds the rewards that I had from fame and fortune. It happened on a little island called Whidbey, just west of Seattle Washington.  I had taken some of my kids and grandkids for a summer vacation and we stayed at an absolutely beautiful multi-acre estate called Quintessa owned by 2 lovely ladies, Tessa and Carrie.

My wonderful and huge reward came when Tessa, after learning my name, told me about how my books, tapes, and periodical, The Financial Freedom Report, was the key that motivated her to buy a number of income properties, including the heavily wooded Quintessa Estate with its ocean view and accommodations for up to 32 people.

Tessa stood there and thanked me so many times it was almost embarrassing. In the last 10 to 15 years, I have received many, many letters, emails, and phone calls with thanks and appreciation from people whose lives have been financially improved, but Tessa’s story and her enthusiasm given to me in person was like getting hit in the face with a brick–a good brick of course!  It brought to my mind, very forcefully, just how much more value and reward there is in helping people, so much more than fortune and fame.

The irony is that back in my younger days I was being very selfish, seeking my own fame and fortune but over time it led to helping many other people which was an unexpected bonus and a wonderful reward. It certainly made me want to work harder to help more people. I found I wanted more of that wonderful feeling, a feeling that surpasses anything I get from fortune and fame.  It took a bit of time to learn that lesson but I don’t think I will ever forget it.

So let’s all try to reach out and help those around us, whether it be family, friends or complete strangers. You may not even know what you have to offer but the rewards for finding out are amazing.

P.S. If you want to stay at the Quintessa estate, it is located at 3493 French Road, Clinton, WA, 98236, or contact them by email at thequintessa@gmail.com. Quintessa is set up in such a way as to help our kids and grandkids do some major bonding which is exactly what happened!

 

How to Double Your Financial Leverage

Leverage is a great tool you can use to grow very, very wealthy and do it fairly quickly, but there is another faster way to make the financial returns even bigger! I like to call this bigger and better way “Super Duper Leverage” because it really can magnify your return on investments and at a more rapid pace. The method involves bringing a partner or partners in on your deals.

In my early years of investing in real estate, I didn’t have any partners. All the money that was needed on a deal was mine and, of course, there would be the loan from the bank or from the seller of the property. But then I came across a super bargain on a 100 unit apartment building that I just had to have because I knew that it was going to be a huge money maker. The only problem was that I didn’t have enough money for the down payment.

However, as luck would have it, the real estate agent told me she had a friend that could put up a huge part of the down payment. To make a long story short, I put up what I had and this guy, who I’d never met before, living up in Idaho, put up the majority of the down payment.

Fast forward a few years … I sold the property giving the investor/partner hundreds of thousands of dollars’ in profit. The great part about this though, is that I also made the same profit but on my much smaller investment. The return was several times the amount I put in so I was thrilled and not only that, my new partner was happy as a clam, seeing he had put his money into a great deal with a partner that didn’t let him down.

Bottom line is that, with this partner putting up most of the money I was able to achieve a huge return on my investment–a much, much bigger return than I could ever have gotten on my own—and my partner had a big win as well! That’s what I call “Super Duper Leverage”.

If I’d been more aggressive after learning and profiting from the lesson I learned from that great deal, I probably could have kept up with my most successful student and follower, Dell Loy Hansen, who bought my book when he was in college. He eventually found a gold mine of very wealthy partners who, over time, joined him in multimillion dollar deals to the point that Dell now has over a billion dollars’ worth of property. Wow. Talk about “Super Duper Leverage”!

I want to elaborate on this subject more next week and give you some methods and ways to find and keep partners so as to be able to leverage your investments to the max. I’ll also talk about the legal aspects and the caution you need to use so as to do it the right way without legal troubles. You can certainly make a great deal of money with a partner but you also need to do it smart so you keep what you make and can go on to make even bigger and better investments with partners who trust you and keep coming back for more.

 

 

Compounding My Thanks

Continuing with my thank you notes I started last week, I’d like to thank the man I call “Mr. Motivator”. He showed me the importance of goal setting which helps, and almost automatically pushes and pulls you, to achieve things you didn’t think you could do at first. That person was Mr. Paul J. Meyer of Waco, Texas. He started with nothing and went on to make around $500 million by motivating others and showing them how to do the same thing.

Paul started SMI, the Success Motivation Institute, which has spread worldwide, inspiring and motivating millions of people around the globe, including myself. I’ve told you a bit about him and the story of how I came to meet him, right here on this blog, so you probably know he and I became very good friends. I truly owe a huge thanks to Mr. Paul J. Meyer and, of course, also his lovely and wonderful wife, Jane.

Notes of thanks could not be sent out without acknowledging a particularly brilliant writer and marketer that came into my life. This man showed me how to successfully spread my financial message through advertising. My ‘Mr. Mass Marketer’ is otherwise known to me as Joe Karbo of Huntington Beach, California. Because of the brilliant mass advertising methods of his that I followed, I sold over 2 million copies of my first book which helped me launch a very large seminar company. That helped me spread the financial formulas and motivation techniques that Larry Rosenberg and Paul J. Meyer taught me.

What was Joe’s brilliant marketing method? Well, he ran a brilliant full page ad that I saw entitled “The Lazy Man’s Way to Riches” with the enticing subtitle, “Most people are too busy earning a living to make any money.” I saw the ad in the Times Newspaper back on March 2nd, 1979 (I still have the original copy). It took me a lot of phone calls but I finally got to meet and know Joe and we became friends. He coached me through some amazing mass marketing success.

So thanks Joe Karbo. You helped me and you helped the world more than you are your posterity will ever know. This is true for all the great human beings I’ve mentioned in the last few weeks. Where would I be without them? Where would you be without your super motivating people

The People Who Changed My Life

Last week I said that I was going to give appreciation and thanks to those people that inspired, helped and directed my life and personal development and those that lifted my financial life to great heights.

The first and probably most powerful financial mentor was Larry Rosenberg of Denver, Colorado. Before Larry came into my life I had read a few financial books that somewhat helped me start to improve my financial situation, books that taught me that the first step is to save money out of each paycheck, at least 10% but more if you can swing it.

However, what Larry Rosenberg really did to lift my financial sights to great heights was to show me what he’d done, starting basically from scratch, using financial leverage and compounding. When he sat down with me and showed me on paper what could be done with as little as $1,000 dollars, a few years’ time, and hard work, I was blown away. Thousands turned into millions and it wasn’t just a theory. He had done it! I quickly saw, and he agreed, that I could do the same thing. So I set out on my financial path and yes, it lead me to millions.

So thank you Larry. I appreciate you and I will never forget you. You not only influenced and lifted my financial world but because of you I’ve passed your directions and formulas onto literally thousands of other people. Your great influence is huge and growing and it’s so big it’s probably unmeasurable.

Larry also put me onto Bill Nickerson’s great book, How I turned $1000 into Millions in My Spare Time, in Real Estate, which gave me more details on what I should be doing and how. Later I was privileged to meet and get to know Bill very well. So a big thanks to Mr. Bill Nickerson too!

These two gentleman were a big influence but there are still more to thank. Next week, I’ll send out a few more thank you notes and show you what people have done for me and, in turn, for you!

Truly Smart Money

One of the smartest people in the entire world said this about money: “The most powerful principle I ever discovered was compound interest”.  Who said that? Can you believe it was none other than Albert Einstein?

I had forgotten that wonderful quote until the other day when I came across a booklet titled “Being Smart with your Money” written by my very dear friend and my money mentor of years ago, Paul J. Meyer.  Paul was a man who truly went from rags to riches.  As a young man, he was making a few bucks by picking fruit in California, but by using his brain and wisely using his little bit of money with leverage and compounding, he eventually amassed close to a half a billion-dollar fortune.  He was considered the pioneer of the self-improvement industry and also made tens of millions in real estate. I must give him credit for much of my own fortune.

My other mentor was Larry Rosenberg from Denver, Colorado. Both Paul and Larry basically gave me the same advice when it came to making millions with Einstein’s powerful discovery figuring into the equation as well, big time!  I was taught that, to begin with, a person who wants great wealth needs to pay himself first.  That is, no matter how much or how little money you make, set 5%, 10% or more aside and then (and this is critically important!) never, never, never spend it!  This money is not for buying nice things, it is for investing!

When you’ve built up enough from those savings, go out and invest it wisely.  Most of the time that wise investment is going to be in good ol’ real estate.  The big-time, huge key to this investment, however, is to keep at it, reinvesting the money you make on the first deal in another deal and then another deal after that and so on and so on. That is what compounding is all about.

Paul says this about what a $1,000 investment can grow into: “If that $1,000 were in an investment that brought 10% interest per year, in 73 years, I would have over a million dollars from my original $1,000 investment!  If you put another $1,000 dollars into the pot each year, it would take only 47 years to hit the million-dollar mark.” Keep in mind, that’s compounding at only 10%. As my previous blogs have demonstrated, you can do much better than that. I, and many others, have compounded money at 25%, 50%, and even 100% which turns $1,000 into many multi-millions.

Paul Meyer also gives this excellent advice in his “Being Smart with your Money” booklet: “Only when you develop confidence in a principle will you exert the effort required to change your behavior and put this principle into practice.” That means, you won’t be able to put these ideas to work for you until you take the time to look carefully at them and come to understand just how well you can do with this plan. That understanding should motivate you into acting on these principles. Paul has these great bits of super money advice to get you going as well:  “Set goals, live within your means, get on a budget and stay there, pay yourself first, put your money to work …” and, I would add, use lots of leverage and reinvest for that wonderful compounding effect.

Although Paul’s booklet is no longer in print, I do have a number of copies that I would be so happy to share. Simply write me here with your mailing address and I will send it to you. Paul’s wise words are too good to keep to myself! (Free offer for booklet is limited and will be given to those that respond first while supplies last)

Control Your Wealth

Last week I ended my blog by talking about the huge importance of saving a minimum of 10% of your income as the first step to achieving total financial freedom and making that savings plan an absolute habit so you do it automatically every time.

But now what to do with that money? Where do you invest it for the best possible return with a reasonable low risk?

One rule that I’ve kept for life in investing is to never turn over total control of my money to someone else. As a stockbroker many years ago, I played in the market and usually lost money or just broke even. Part of the reason was that not only did I have no say or control over the company I bought into but I also had absolutely no control over the stock market and the direction it went.

But then I met a guy who became my wonderful and brilliant coach, Larry Rosenberg. He convinced me that improved rental real estate was the safest and most consistent way to build a fortune. Why? Because if you buy right and buy a property that needs improvement, you can reap huge returns and much of what happens with your investment is in your control.

First of all, you have the power of leverage you can apply when you have the right assets. In other words, if you fix up a property and raise its value by, say, 15% then that 15% improvement in value can turn your investment into a fat 60% on your money! That huge return is based on your choices. In this case, you would put a 20% down payment on it and keep fix up costs at about 5%. These are your decisions to make and therefore you have some control over how well you make out on the investment.

Even today, after 40 years of experience, I still say the best investment that allows you the most control, especially in today’s market with these very low interest rates, is real estate. I started with a small house on the wrong side of town and after I fixed if it didn’t sell right away I usually could rent it out so I had a tenant whose rent I was able to set so that it was paying off the mortgage, usually with a little left over for me. Then I moved on to larger and larger properties which I was able to work pretty much the same way and I still use this strategy today.

The other thing I do to keep control besides investing in the right property and making smart decisions to keep money flowing in, is to be careful with how I set up any partnerships. When I do deals and have a partner or two they always have their name on the deed showing the percentage interest they have in the property with everything spelled out clearly. If all investors insisted on doing it this way, it certainly would cut down dramatically on all the scams and Ponzi schemes. But it also means all the partners know what to expect and there are no out of control surprises later on.

So if you are smart and want to make those big bucks you’ll get out there, take and keep control of your investments, and keep focused on the great power of compounding and leveraging. Next week we’ll go into those subjects a bit more to keep you focused on your goal!

 

Celebrating Life

I just flew from Kauai into Salt Lake City. Yep from the beach and palm trees to snow and cold—brrr! We are staying in Utah for just a few days. We made this special quick trip from paradise to the snow country of Park City and Deer Valley Utah for the grand celebration of the life of the legendary world champion skier and our dear, wonderful friend, Stein Eriksen.  In my January 2nd blog I talked about my 2016 New Year’s Resolution to follow Stein and Francoise example of being a great friend; my goal is to be a much better friend and cultivate more and more friends.

When you live 88 years as Stein did, a celebration of life makes so much more sense than that thing they call a ‘funeral’.  My message this week is a simple one.  Life is so very short and no one knows when their life is going to end but we all know that it will end at some point.  So to have a fuller life, we all need to celebrate each and every day. Or as my license plate on my new Tesla reads, “CARPIDM” which is an abbreviated version of ‘carpe diem’ which, of course, means ‘seize the day’.

Let’s set a goal to make every day count and make every day a celebration of our lives and spread that celebration and up beat feeling to all those around us. And do more of that celebration with our family and friends.  Live in the now! We all know we should do that so let’s be more aware of the importance of living in the now and in today and do it every day.  Remember, even if you live to be 100 years old that’s only 36,500 days and for me that only leaves 10,160, so I certainly need to practice what I am now preaching to you!

 

 

A DIFFERENT TYPE OF NEWS YEAR RESOLUTION

In most years past I, and probably you too, have set new year’s resolutions to make more money, get in better physical shape, or to scratch off another item on your bucket list but I had a major brain change a couple of days ago because of a very sad event. A man I consider my older brother passed away on December 27th. I had wanted an older brother ever since my actual older blood brother died right in front of me when I was all of 15. Stein Eriksen was Norwegian and maybe because of me being part Norwegian we hit it off big time many, many years ago. He was no doubt the most famous skier on the planet and was considered the founder of modern skiing. He won a silver and a gold medal in the 1952 Olympics and 3 gold medals in world championships in 1954. But all that fame and the money that followed was not the best part of this man. He the nicest, gentlest and kindest guy you would ever want to meet and you couldn’t ask for a better friend.

Stein was 88 years old and still full of life until the very end. In fact, 16 days before he passed we spent the evening with him celebrating his birthday along with his wonderful and beautiful French wife, Francoise, their son Bjorn and 2 other friends. He was the life of the party. My wife Kimberly and I had also had the great privilege of traveling the world with Stein and his wife. We skied together in Park City, Utah, and played tennis everywhere from his cabin in Montana to Gstaad, Switzerland. We often played with the famous tennis champion Roy Emerson, the very man who introduced Stein to Francoise many, many years before. We even cycled around the islands of Croatia when Stein was in his early 80’s. And I will never forget the long barge trip we took on the scenic Seine river in France. Francoise, being French, made it even more special and, yes, we did tip back a few glasses of good ol’ French red wine.

This past Saturday we got a call from Francoise telling us that Stein had been in the hospital. She said they were sending him home to live his last days and we had better come to the house as soon as possible. By the time we got to the house he was semi-conscious. We tried to communicate with him but the most he could do was wiggle his toes trying to answer some yes and no questions. The next day he was totally unconscious and with his family and a few of his friends at his bedside, this great and wonderful man slipped into what lies next. My incredible friend and big brother was gone.

Stein’s death really didn’t hit me until the next day. Those last two days in his bedroom I found myself being the comforter to his wife and family to the best of my abilities, but the day after he died I fell apart and a piece of me died. I had lost another big brother.

Now as I face a new year when I usually set new year’s resolutions that revolve around money, health and travel, I have a totally new perspective. I want to follow in Stein’s footsteps and gather more friends and, most importantly, be a better friend to others. Money, success, and fame are little tiny things when compared to good friends. Yes, these resolutions are hard to quantify but that’s ok. I’m going after them with all my heart and all my energy.

Next week, I am going to talk about why so many people set resolutions but fall short virtually every year. You might be surprised at what science has found when it comes to this subject.

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