By Brian Tracy
The Law of Abundance - there is ample money for everyone who knows how to acquire it and keep it. We live in an abundant universe in which there is sufficient money for all who really want it and are willing obey the laws governing its acquisition.
You Can Have All You Want
Listen to educational audio programs in your car. The average person drives 12,000 to 25,000 miles per year which works out to between 500 and 1000 hours per year that the average person spends in his or her car. You can become an expert in your field by simply listening to educational audio programs as you drive from place to place.
Make A Decision
The first corollary of the Law of Abundance says that, “People become wealthy because they decide to become wealthy.”
They become wealthy because they believe they have the ability to become wealthy. Because they believe this completely, they act accordingly. They consistently take the necessary actions that turn their beliefs into realities. And you can always tell what your beliefs really are by looking at your actions. There is no other way.
The second corollary of this law says: “People are poor because they have not yet decided to become rich.”
Examine Your Own Thinking
In the book, The Instant Millionaire, by Mark Fisher, the old millionaire asks the boy who has sought his advice about becoming a millionaire, “Why aren’t you rich already?”
This is an important question to ask yourself. However you answer this question will reveal a lot about yourself. Your answers will expose your self-limiting beliefs, your doubts, your fears, your excuses, your rationalizations and your justifications.
Review Your Reasons
Why aren’t you rich already? Write down all the reasons you can think of. Go over your answers one by one with someone who knows you well and ask them for their opinion. You may be surprised to find that your reasons are mostly excuses that you have fallen in love with.
Whatever your reasons or excuses, you can now get rid of them. The world is full of hundreds and thousands of people who have had far more difficulties to overcome than you could ever imagine, and they’ve gone on to be successful anyway. So can you.
Action Exercises
Here are two things you can do to apply this law immediately:
First, imagine that every experience you have ever had with money contained a special lesson that was designed just for you to help you to ultimately become financially independent. What are the most important lessons you have learned so far?
Second, analyze yourself honestly and determine your biggest block, your major self-limiting belief that holds you back from becoming more successful financially. Resolve to act from now on as if this block no longer exists.
Check out other article on The Key To Riches. Click here.
Check out other article on The Four D of Financial Success. Click here.
Tuesday, April 7, 2009
Monday, April 6, 2009
The Key to Riches
By Brian Tracy
Anyone, Starting From Wherever They Are, Can Become Wealthy In America
Here is some great news. Wherever you are in your financial life, you can become wealthy over the course of your working lifetime. If you start early enough, work hard enough and do what other successful people do, you may even become a millionaire.
Looking Back
In 1900, there were less than 5000 millionaires in the United States. Today, there are more than five million millionaires and the number is growing rapidly. There are more than two hundred billionaires as well.
Everyone Starts From Nothing
Most of these wealthy people are self-made. That is, they started with nothing and they earned every penny by applying their talents and abilities to the opportunities that came along. The number of millionaires is growing at the rate of 15% or more per year. Someone, somewhere becomes a millionaire every 3-4 minutes. And what these other self-made millionaires have done, you can do as well.
You Can Do It, Too
The wealthy are not very different from you and me. They have simply used more of their God-given talents and done things in a different way from the majority. The wonderful thing is this. And I cannot repeat it often enough. If you do what other successful, wealthy people do, you will eventually get the same results. You can start right where you are, even deeply in debt, and achieve financial independence if you do the right things over and over again until you get the results you desire.
Save $100 Per Month
If you save $100 per month from the age of 21 to the age of 65 and it grows at a compound rate of 10% per year, you will have more than one million dollars when you retire.
If you earn $25,000 per year and save just 10% of your income, or $2500 per year, and invest it carefully so that you earn 10% compounded over the course of your working lifetime, you will be worth $1,794,762 through the miracle of compound interest.
The key to riches is simple. Save and invest 10% of your income throughout your working lifetime and you will become rich. It is as simple as that.
Action Exercises
First, make a decision today that you are going to save 10% of your income for the rest of your working lifetime. Set it as a goal, make a plan and then discipline yourself to save that amount for the rest of your career.
Second, go to the bank today and open a special account for financial independence. Deposit whatever amount you can in that account. From now on, think every day about how you can put more money into that account and then invest it wisely. This will change your financial life.
Check out other article on The Four D of Financial Success. Click here.
Check out other article on The Definition of Wealth. Click here.
Anyone, Starting From Wherever They Are, Can Become Wealthy In America
Here is some great news. Wherever you are in your financial life, you can become wealthy over the course of your working lifetime. If you start early enough, work hard enough and do what other successful people do, you may even become a millionaire.
Looking Back
In 1900, there were less than 5000 millionaires in the United States. Today, there are more than five million millionaires and the number is growing rapidly. There are more than two hundred billionaires as well.
Everyone Starts From Nothing
Most of these wealthy people are self-made. That is, they started with nothing and they earned every penny by applying their talents and abilities to the opportunities that came along. The number of millionaires is growing at the rate of 15% or more per year. Someone, somewhere becomes a millionaire every 3-4 minutes. And what these other self-made millionaires have done, you can do as well.
You Can Do It, Too
The wealthy are not very different from you and me. They have simply used more of their God-given talents and done things in a different way from the majority. The wonderful thing is this. And I cannot repeat it often enough. If you do what other successful, wealthy people do, you will eventually get the same results. You can start right where you are, even deeply in debt, and achieve financial independence if you do the right things over and over again until you get the results you desire.
Save $100 Per Month
If you save $100 per month from the age of 21 to the age of 65 and it grows at a compound rate of 10% per year, you will have more than one million dollars when you retire.
If you earn $25,000 per year and save just 10% of your income, or $2500 per year, and invest it carefully so that you earn 10% compounded over the course of your working lifetime, you will be worth $1,794,762 through the miracle of compound interest.
The key to riches is simple. Save and invest 10% of your income throughout your working lifetime and you will become rich. It is as simple as that.
Action Exercises
First, make a decision today that you are going to save 10% of your income for the rest of your working lifetime. Set it as a goal, make a plan and then discipline yourself to save that amount for the rest of your career.
Second, go to the bank today and open a special account for financial independence. Deposit whatever amount you can in that account. From now on, think every day about how you can put more money into that account and then invest it wisely. This will change your financial life.
Check out other article on The Four D of Financial Success. Click here.
Check out other article on The Definition of Wealth. Click here.
Sunday, April 5, 2009
The Four D's Of Financial Success
By Brian Tracy
Start From Nothing and Become Financially Independent
More than eighty percent of self-made millionaires in America began with nothing or in many cases, less than nothing. I can certainly relate to that because when I was growing up and right into my early 30s, I never had any extra money with which to start a fortune. It seemed to me that there was always enough, if not more than enough bills, to absorb every penny I earned. I was always in debt.
Be Ready For Your Opportunity
And even if a great business opportunity did come along, I wouldn't have been able to do anything with it. As I began studying financial success and self-made millionaires, I noticed that almost everyone around me was in pretty much the same boat. The idea of becoming really wealthy was a distant dream with very little possibility of coming true. You may be in the same situation, with more bills than money or assets.
Look at the Numbers
The statistics are a little scary. Of 100 people who reach retirement age, according to insurance industry statistics, only one will be wealthy. Four out of the hundred will be financially independent; fifteen will have some savings put aside. And the other 80 will be dependent on pensions, still working or broke - this after a lifetime of well-paid work in the most affluent society in human history. Now why does this happen?
Why People Retire Poor
There are two main reasons why people retire poor. First, they never decide to retire rich. They wish and hope and pray, but they never make a firm, unequivocal decision that they're going to do it. Second, even if they do decide to retire rich, they procrastinate until it's too late. They always have some good reason for putting it off.
Start With Desire and Decision
If you sincerely want to beat the odds, to achieve financial independence and retire wealthy, there are four critical steps that you must take, all starting with the letter D.
The first step is desire. You must want it badly enough to make an unshakable commitment and to be willing to make sacrifices. The second D is decision. You must make a decision right now to do whatever is necessary, to be willing to pay any price, go any distance, to achieve your goal.
Practice Determination and Discipline
The third D is determination, which is to keep at it until you succeed in spite of all the problems and obstacles you will experience. And the fourth D is discipline - the discipline to master yourself to develop the habits necessary for achieving financial independence.
Those are the four Ds. Desire, Decision, Determination and Discipline. And you can measure how successful you're going to be in the future by measuring how well you're doing in each of those on a scale of one to ten.
Action Exercises
Here are two things you can do immediately to put these ideas into action.
First, make a decision, right now, that you are going to be financially independent, no matter what obstacles you face in the short term. Then write it down, make a plan and start to work on it every single day.
Second, resolve in advance that you will persist in the face of every setback or obstacle you face. You will never give up. You will keep on moving forward until you finally achieve your goal.
Check out other article on The Definition of Wealth. Click here.
Check out other article on The Cause of Money. Click here.
Start From Nothing and Become Financially Independent
More than eighty percent of self-made millionaires in America began with nothing or in many cases, less than nothing. I can certainly relate to that because when I was growing up and right into my early 30s, I never had any extra money with which to start a fortune. It seemed to me that there was always enough, if not more than enough bills, to absorb every penny I earned. I was always in debt.
Be Ready For Your Opportunity
And even if a great business opportunity did come along, I wouldn't have been able to do anything with it. As I began studying financial success and self-made millionaires, I noticed that almost everyone around me was in pretty much the same boat. The idea of becoming really wealthy was a distant dream with very little possibility of coming true. You may be in the same situation, with more bills than money or assets.
Look at the Numbers
The statistics are a little scary. Of 100 people who reach retirement age, according to insurance industry statistics, only one will be wealthy. Four out of the hundred will be financially independent; fifteen will have some savings put aside. And the other 80 will be dependent on pensions, still working or broke - this after a lifetime of well-paid work in the most affluent society in human history. Now why does this happen?
Why People Retire Poor
There are two main reasons why people retire poor. First, they never decide to retire rich. They wish and hope and pray, but they never make a firm, unequivocal decision that they're going to do it. Second, even if they do decide to retire rich, they procrastinate until it's too late. They always have some good reason for putting it off.
Start With Desire and Decision
If you sincerely want to beat the odds, to achieve financial independence and retire wealthy, there are four critical steps that you must take, all starting with the letter D.
The first step is desire. You must want it badly enough to make an unshakable commitment and to be willing to make sacrifices. The second D is decision. You must make a decision right now to do whatever is necessary, to be willing to pay any price, go any distance, to achieve your goal.
Practice Determination and Discipline
The third D is determination, which is to keep at it until you succeed in spite of all the problems and obstacles you will experience. And the fourth D is discipline - the discipline to master yourself to develop the habits necessary for achieving financial independence.
Those are the four Ds. Desire, Decision, Determination and Discipline. And you can measure how successful you're going to be in the future by measuring how well you're doing in each of those on a scale of one to ten.
Action Exercises
Here are two things you can do immediately to put these ideas into action.
First, make a decision, right now, that you are going to be financially independent, no matter what obstacles you face in the short term. Then write it down, make a plan and start to work on it every single day.
Second, resolve in advance that you will persist in the face of every setback or obstacle you face. You will never give up. You will keep on moving forward until you finally achieve your goal.
Check out other article on The Definition of Wealth. Click here.
Check out other article on The Cause of Money. Click here.
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