July 28th, 2007
By James Lee Valentine
My journey to a million dollar net worth begins with me knowing where I am at this precise moment. This Millionaire Analysis is comparable to a roadmap for success that is designed to enable me to discern my monetary strengths and understand my financial ambitions.
This Millionaire Analysis asks twenty questions that help me get to the truth of who I really am. Each question must be answered wholeheartedly. The deeper I can dig into my psyche, the stronger the analytical groundwork I shall be performing in the construction of my financial foundation.
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April 8th, 2007
By Matt Fox
Anyone with a desire to be wealthy, rich, or comfortable needs to follow a few steps. The first step is to create a plan of attack. An attack on poverty, on risk and on conventional thinking. Then they actually need to follow through with their plan. The plans vary person to person. For instance, older people can’t take the same risks as young people. They don’t have the time to spare. Nor would it be easy for them to replace lost money. But anyone can choose an investment plan that will work for their situation.
To create wealth you clearly need assets. An asset is not only something with value, but something that will put money in your pocket on a regular or planned basis. The assets you acquire can be purchased, like a dividend bearing stock or an interest bearing bond. They can be created, like residual income producing assets such as a product, song, book or network marketing system or even an insurance agents list of clients. By creating an asset instead of purchasing an asset, you will be able to build wealth in the fastest possible way because there is no capital investment. The capital you save can be used to create more assets. That is how a person gets rich. By using assets to buy or create more assets. You can earn an income for years to come from the same asset. The more assets you can build or buy, the wealthier you become as long as you reinvest your income into more assets.
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August 11th, 2006
By Bill Griffith Jr
Are you saving enough money for retirement? Do you know how much money you need to accumulate in order to retire? Are you concerned about how you should be saving for retirement? The simplicity of these questions can lead many people to believe that there is a simplistic answer. Unfortunately, nothing can be further from the truth. As you will see in the following five-steps, excerpted from my book Securing a Retirement Income for Life: Strategies for Managing, Protecting and Preserving Your Wealth, the process of building your retirement portfolio is analogous to building a business or professional practice.
How would you build a multimillion dollar business? By planning, setting goals, watching your expenses, educating yourself and by working hard knowing that all your efforts, discipline and your commitment will payoff in the long run. Building a multimillion dollar investment portfolio requires the same discipline and commitment. Building significant wealth is not a get rich quick scheme. The reality of successful investing for retirement is that it is a complicated and time-consuming process. It takes plenty of time and patience to become financially independent with the tenacity to overcome all obstacles. The sooner you start, the sooner you will be prepared to retire. Putting it off just increases the amount of money you will need to save each year. In addition to procrastination, many people accumulate a lot of debt attempting to satisfy their desire for immediate gratification. Spending money on an extravagant lifestyle today can make it exceedingly difficult to set enough money aside for retirement impacting their lifestyle in the future. Decisions about how to manage their company retirement plan, how much to contribute, how to invest their money and what to do with their vested balance after they retire also adds to the confusion causing many people to put off planning. It is important to understand how these obstacles can prevent you from saving for retirement. By planning today, you can create your own vision of your retirement and what you need to do now to make your dreams a reality.
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Millionaire Analysis - Where Am I Now On My Road To A Million Dollar Net Worth?
