Our Wealth!

Eric Fields asked:


Your advanced wealth planning strategies should not consist of you going it alone. The key to advancing your wealth is building a quality team of advisor’s. Your advisor’s will make you or break you. Advancing your wealth cannot and should not be done by yourself. Many people make the mistake of doing everything themselves. Doing everything yourself is fine but if you want to increase your wealth you will need advisor’s. Money is an emotional subject for many people. Everyone goes through money problems (even the very wealthy), how you and your team handle your money problems is what counts.

First you should hire a bookkeeper. In order to increase your wealth you must know what direction your money is flowing. Is your spending helping or hurting you? Yes there are many people who balance their own checkbooks but you need an outside opinion. The amount of money you are making is irrelevant when it comes to hiring a bookkeeper. Whether you are making 250,000 dollars a year or 25,000 dollars a year you should still have your own bookkeeper. Once you have your bookkeeper you can now go over your monthly financials. You will see what good and bad spending habits you have. Then you can work to out the bad spending habits and increase the good spending habits.

The next adviser you should have is your financial adviser. Hiring a good financial adviser is one of the best moves you can make. He can help you plan for retirement and other things. Having a 401 K with your company is not enough, be sure to get a financial adviser.

Getting a tax strategist should be your next step. It really does not matter if you are self-employed, own your own business, or have a 9-5 job. Getting a tax strategist is essential because your eyes will be opened when you see the way money is taxed for different people. You will also see how people are penalized with heavier taxes by bringing in a certain type of income.

When choosing your advisor’s choose carefully. Do not just hire an adviser who makes money off of commissions. You want an adviser who practices what they preach and is successful at it. Your advisor’s will be able to help you setup many advanced wealth planning strategies.

Andrew Kasch asked:


Building wealth is technically easy, but many find it to be practically challenging. This is understandable, with all of the distractions that everyday life throws at us. The solution to this problem is as simple as taking an active interest in your personal finances. You must become genuinely interested in securing your financial future. A sound wealth-building plan that will lead you to a comfortable early retirement is not hard to implement, no matter what your current situation is. After all, how many things are more important?

Well, many would say that living for today is just as important, and that saving for their kid’s college education is of primary concern. I couldn’t agree more! Those things simply must be handled. But they needn’t compromise a well thought-out wealth building strategy. In fact, the success of such a strategy is in no small way dependant on those other important things also being taken care of. Everything in your financial life must integrate well or your progress will surely suffer.

The critical components of an organized financial plan that focuses on building wealth are as follows: First off, an emergency fund must be in place for life’s unforeseen circumstances. A good figure is 3-6 months living expenses. Secondly, spending and consumer debt must be under control. Get those credit cards paid off and don’t carry balances on them. Third, automatically be building savings through traditional investment vehicles. Max out contributions to your 401K or an IRA account, have automatic deductions made into a college savings account. Finally, allocate a steady monthly stream into an aggressive investing account that seeks to make 30% annual returns or more. This can be done manually or by having a managed trading account.

OK, so your first question undoubtedly has something to do with, “How much?” How much is it going to cost you now, how much are you going to get back, and when? A compound calculator can help answer those questions. It’s all up to you of course, but the important thing is that you make regular monthly contributions into an investment vehicle that is earning an average 30%+ annual return, and is compounding monthly. If you can’t free up enough from your existing income, then start a new part-time business.

Consider that an account size of just $700 with a $300 additional monthly deposit will become over $432,000 in 12 years with a 30% annual rate of return. This figure disregards tax consequences, but such a feat could be accomplished inside of a tax-protected vehicle such as an IRA or the American Skandia variable annuities (which allow aggressive mutual fund trading). A $10,000 starting account with $500 added monthly will be worth over $1.8 million in 15 years time if averaging a 30% annual return.

The number one objection I hear when presenting this concept is that a 30% annual return isn’t possible to earn. That is simply not true. You can achieve this by learning aggressive trading strategies, some of which are allowed inside of tax-deferred accounts. There is a lot to choose from, so you should go with something that appeals to you. Some examples include: Market timing strategies, option trading strategies, swing trading, and covered call writing. As a last resort you can always go with a managed account or a trading advisory service, but shop very carefully if that is your chosen vehicle.

The other big objection is that there just isn’t enough income available to make that kind of monthly deposit commitment. Fortunately, that situation can be fixed by a combination of reducing your expenses and increasing your income. If you are straightening out your finances first, as described at the beginning of this article (which is a must), you will find ways to do this. If necessary, you can start a new part-time business that you can run by spending just a few hours a week at your computer terminal.

The bottom line is that you can build wealth in your lifetime if you have a mind to. You have to make it a priority, and commit to the effort. I have just shown you what to do, now you need to get organized and start doing it.

Chris Malta asked:


One of the most accessible ways for anyone to build a solid income, regardless of their technical expertise or limited start-up budget, is through the Internet. According to veteran e-tailer Sydney Johnston, creator of http://Auction-Genius-Course.com, anyone with a computer and the ability to read and write can start a profitable online business - if they have the self-discipline to follow through.

Johnston’s popular wealth-building plan advocates creating many small, niche-oriented web sites, each with a modest monetary target. Though individually, these sites may not generate substantial earnings, they each contribute to a notable overall income. “It’s like fishing,” explains Johnston. “The more lines you put out there, the more you catch, and the better your chances of meeting your financial goal.”

Step-by-Step

How do you begin turning out web sites, especially if you have no online experience? You can start by taking four specific steps:

• Research Your Market

Research absolutely must be your first step. There are many keyword tools you can use to determine the demand for your niche and whether or not you can compete in a given market. As long as you’re doing your homework and making educated decisions, you won’t see too many of your sites failing.

• Build Your Site

Your next step is the actual web site creation. You can use a free web-building tool like http://Nvu.com to design your sites. It’s extremely user-friendly, even if you have no programming or HTML skills. The most effective length for these narrow niche sites is around thirty pages, or thirty articles of about 350-600 words each, centered around a highly specific topic. Such articles aren’t hard to create; once you get started, it becomes second nature.

• Cash In

Once your site is up, it’s time to monetize it. There multiple strategies you can employ to convert your web site into revenue. Programs like Google’s AdSense or http://AuctionAds.com, for instance, match relevant sponsored ads to your site’s content and display them on the appropriate pages. Anytime a visitor clicks through one of your pages to a site or auction advertised there, you get paid.

Drop shipping is another easy monetization model: you can offer products that are suitable to your site subject and would appeal to your target audience. This kind of low-risk model is especially advisable if you’re new to eCommerce - you’re not investing in inventory or shipping supplies, and you don’t pay the supplier until your customers pay you.

• Go Public

When your site is consumer-ready, all that’s left is to bring in the consumers. Rather than spending a fortune on pay-per-click ads, try implementing simple strategies to pull traffic from eBay and the organic search results:

o Use eBay to direct traffic to your stand-alone sites.

o Get your sites indexed with the major search engines.

o Put up a blog - they weigh heavily in the ranking algorithms - and post stories or articles there.

o Reword the articles you’ve written for your sites’ content and submit them to the free directories.

“People come to me all the time and say ‘Help me - I don’t know where to start,’” explains Johnston. “This is a straightforward, systematic process of building a site, getting the information out there, and then going on to the next one, and the next one, and the next one. Anyone can do this. For not much more than the cost of a domain name and a few dollars a month for hosting, you’re investing in a solid plan of action to reach your business goals.”

The Maverick Marketeer asked:


With the recent rise of the affiliate marketing industry as a true online wealth building powerhouse, a steady stream of aspiring entrepreneurs are taking full advantage of the affiliate marketing boom.

Unlike the older online business models which would call for the tedious tasks of website design as well as product design and placement, the affiliate industry allows marketers to generate significant revenue with hardly any setup cost.

Successful online business owners, the savvy bunch that they are, recognized the great potential such a hungry and egger sales force presented.

For the companies with product to sell, affiliate programs allow them to greatly increase product exposure on a paid for performance commission basis.

For newly inducted online entrepreneurs, affiliate programs represent a real opportunity to make serious income online without much of the risk, research or investment associated with product development and placement.

While securing a solid financial base through affiliate programs, new online marketers also manage to hone their skills among the marketing elite of e-commerce.

Besides the financial aspect, affiliate marketing also provides a golden opportunity for those looking for long term gains and high end profits, to gain the experience necessary to take full advantage of all the unbelievable benefits the net has to offer.

This kind of experience has indeed put many on the fast track to building their own online empires one affiliate marketing program at a time.

Of course there is always the matter of deciding which program is right for you. There are as many options available as there are stars in the sky.

Be sure to do your homework to determine what your potential program has to offer. Even the best compensation plan won’t mean much, unless the product boasts a fair amount of demand, just as the hottest selling product should provide a fair return on your time and effort in making each sale.

Once you’ve chosen your affiliate marketing program and got down the basics of promoting your products and collecting reasonable rewards for your efforts, you’ll likely have no problem duplicating your success with additional products.

As you manage to continue to build your online empire you also have the option of creating your own products and services to leverage all your hard won experience and know-how.

This is by far the most easy to follow blueprint for success online.

First, gain knowledge and experience with little to no risk marketing affiliate products.

Once you have a formula that works, repeat your success with additional products.

Finally, gain the maximum leverage for you knowledge and expertise by creating and selling your own products or services.

Lastly, you may consider creating your own affiliate program to further increase your marketing exposure.

So, for those of you who are considering the possibilities, consider this. With the incredible amount of commerce that takes place online, some analysts estimate that those sales account for less than 5% of all transactions.

Ecommerce is still a relatively new commercial outlet that’s already revolutionized the way the world now does business. In the years to come many more fortunes will be made online than in any other sector.

The next incredible success story the world hears about could very well be your own.

If I have seen farther than others, it is because I was standing on the shoulders of giants.

-Isaac Newton

Ranju Kumar asked:


Building true wealth involves strategy. Even for those who may not be wealthy now, it is possible to build wealth with the right stratagem. As with everything in life, a strategy must be designed before we can begin to see good results. For this questions arise.

How does one start to build a wealth strategy?

Strategy involves developing a clear picture of the desired end results before taking action. Then tactical measures need to be arranged that bring a person closer to that desired end result. A starting point may be in observing those who have the end result you want. Look at the strategies they used to get where they are and stayed where they are. This is where wealth builder’s international comes in.

Building true wealth as a member of Wealth Masters International can truly help you. You may be in debt now, but that is the best starting point. Learn to work your way out of debt, increase your income, developed a good cash flow system, become more aware of your self and your life, and finally live the life you worked for.

There are six main steps to achieving true success in building wealth:

First, analyze your personal finances. Design a debt management and reduction plan. Redesign your current lifestyle and live according to your current means.

Second, learn how to minimize your taxes and increase you income. This included designing the right cash flow solutions for your situation.

Third, build emergency funding and funding without assets. Learn how to save money tax free, or with minimum taxes while increasing the return rates of your investments.

Fourth, learn how to protect yourself and your finances for anything. Find out how to bullet-proof your financial portfolio.

Fifth, learn how to build a legacy and build wealth. Learn what the pros do to keep increasing their accounts tend reducing their debts.

Sixth, learn how to live the new life style and learn how to change along with the lifestyle changes. In short, learn how to stay on track. Because the goal isn’t just to get there, it’s also how to stay on top.

If they are looking for specific answers and cannot find them, they will leave your website and probably never return. First impressions are essential when it comes to obtaining new customers. As shown here, you can easily become one of the many profit masters in the world that are also considered to be a golf course builder! All you have to do is consider the outline above, and put it to work for you! If you would like to know more about making the world a personal golf construction project to attract customers.

Vikram kuamr asked:


Jim Toner is a successful fulltime investor who has been generous in sharing the path to financial freedom through investment in real estate. Inspired by a book written by Charlie “Tremendous” Jones, Jim Toner moved to become a multimillion real estate investor. His story of success brought him in studios of CNN, NBC, Fox News, and ABC, where he talks about his success building tips. His expertise to ethical real estate investing has brought him in the pages of famous business magazines such as Business Opportunity Magazine, The Pittsburgh Post Gazette, Opportunity World, Essence Magazine, The Pittsburgh Tribune Review, Opportunity World, Yahoo Finance, Forbes.com, and many more.

His string of achievements has made him to become one of the sought-after lecturers and speakers of real estate. This too has prompted him to create a wealth builder site in his effort to show people that success is closer than they think. Jim Toner also conducts wealth building seminars and workshops to guide those who are seeking ways to succeed in their career in real estate business. He believes that the most powerful tool to financial freedom and success is through real estate investment.

Jim Toner Wealth Building Seminars shares the basic steps to financial success and it is by having a plan and by being in the right company of people. To achieve your goal to be rich or prosperous, you have to have a plan of your own. Today at a very young age of 45, Jim Toner is now a wealthy realtor, married, and with two kids. The Jim Toner Wealth Building Seminars emphasize on planning for your future that includes taking control of your financial future by taking action. Nothing could be fulfilled in waiting and watching. By attending one of his Wealth Builders Program, one can have a better plan and picture for his life and finances. The first step to success or getting rich is by doing the things you want and planning them.

In Jim Toner’s Wealth Builders Program, you will know why it is important to surround yourself with the right people. To surround yourself with people who are living a lifestyle that inspires you and the kind of life you aspire to have is the second important element for success. Your constant companions will tell you where your plan is leading you. Having a plan and working on the plan is very important for Jim Toner. He sums it up in two words when he said, “take action.”

Jim Toner’s Wealth Builders Seminars provide the means to make the plans you have made to happen. These seminars are good investments since the treasure you will learn from it will lead you to realizing the plan you have laid out for yourself. Jim Toner has been through a lot before becoming a successful multimillion real estate investor and this had made him an authority in this industry. As how Jim Toner’s Wealth Builders Seminar would say it, these seminars have real investors, real people, and real results.

J.S. Kim asked:


According to a recent study conducted by Charles Schwab, today’s teenagers in the United States have huge expectations about the type of wealth that they will build as young adults. Of the 1,000 teenagers that participated in the survey, boys on average expected to be earning $173,000 a year while girls expected to be earning $114,200 annually. The reality is, however, that only 5% of all wage-earning adults in the U.S. earn six figure salaries.

The Schwab survey further discovered that nearly two-thirds of American teens aged 13-18 years-old believe that they were knowledgeable about money management, including budgeting, saving and investing. However, despite this typical braggadocio that accompanies teenagers, barely a third of them admitted to knowing how to budget money (41 percent), how to pay bills (34 percent), and how credit card interest and fees work (26 percent). Here is where this survey is lacking and where a crucial gap in understanding must be bridged. Despite most teens lacking this knowledge, this is not the knowledge they need to build wealth. It is the knowledge they need to perhaps assume a baseline of fiscal responsibility as young adults, but hardly the knowledge that will help them assert their wealth-building muscles. As I stated in my last blog, teenagers need to learn the below subjects to acquire the critical gap in knowledge that will convert them from fiscally responsible young adults to adults capable of building wealth.

Many adults assume that their children will have zero interest in learning about how to build wealth, but the Schwab studies reveal otherwise. According to the Schwab survey, “nearly 9 in 10 say they want to learn how to make their money grow (89 percent). Two-thirds (65 percent) believe learning about money management is ‘interesting,’ and 60 percent say that learning about money management is one of their top priorities.” These stats are encouraging but the accessibility to the type of education that will truly benefit young adults is still highly guarded and certainly unavailable through typical channels of traditional education.

I strongly believe that young adults will never acquire the proper education to learn the critical knowledge they need to build wealth through traditional education or certainly not through educational programs sponsored by investment firms. Why?

If investment firms truly provided the type of education that young adults needed to independently build wealth then it would render their own services obsolete and unnecessary. No firm would ever willfully engage in such self-defeating behavior. This would be analogous to a tobacco firm sponsoring educational programs about the deleterious effects of smoking including lung cancer. I imagine that such firm-sponsored educational programs carefully design the programs to spark an interest in young adults about investing while still leaving them dependent upon them to invest their money in the future. It’s the perfect set-up for investment firms. Shaping young minds to give them their future earnings. However, it is most definitely NOT what will help young adults build wealth.

So wherever you seek information for not only your children but for yourself, ensure that the program you seek does not just teach you basic fiscal responsibility skills that still leave you dependent upon someone else to manage your money, but ensure that such a program is comprehensive to teach your children how to manage their money themselves as well. Ensuring that your children (or perhaps even you) seek knowledge regarding wealth literacy will in the end, be 1000 times more important than seeking financial literacy.

Joseph Lane asked:


Wealth building is how a person secures their financial future. A leader in the Industry is well known Loral Langemeier. Langemeier was born and grew up on a farm in Nebraska. Loral Langemeier is a master coach and financial strategist. Loral built her first business when she was still in high school. When Loral was in her mid thirties she created a multi-million-dollar portfolio.

This reminds us that if we think about our future and prepare for our financial future, after the years go bye, you will have a secure financial foundation for old age. Its never to late to start building wealth. If you start today, you will be able to start putting in place the financial building blocks for your own financial future.

In today’s world where retirement plans and pension plans are going away, its important to take responsibility for your own post working life. That said, now is the time to get involved and see what’s available in investments and strategies. There are many sources on the market to assist you in building wealth. Building wealth is an important part of a persons financial future and its important to make sure that you start early and if you haven’t, today is a good time to start. Start making plans for your wealth building so you will have a financial future.

Take care of your money and future. Nobody will do it for you. Your on your own. But your not

alone. You simply need to reach out and learn and grow your wealth using the available wealth

building offerings from the many companies on the market. Its important to understand that the

world we live in today is a world where the burden of a good financial future is in each of our own hands and its up to each and every one of us to take care of our wealth building futures.

Robert Zangrilli asked:


The primary purpose of good credit is to save you money by helping you procure lower interest rates that otherwise wouldn’t be available to you. Interestingly, some consumers fail to recognize this fact when considering the appropriate option for debt resolution. The main reason for this is a lot of people interpret their credit on an emotional level instead of a rational one. That is, they think of their credit score as something more than it is—something more than just ONE tool that lenders look at to determine whether giving you a loan will be profitable for them—and it becomes a matter of pride, not a matter of financial health. In the end, the mistake of thinking about one’s credit on an emotional level instead of a rational one can cost a consumer buried in credit card debt and only able to afford minimum payments thousands of dollars in finance charges and even more in the years of life consumed by financial anxiety.

Another part of the problem is that most people, even when trying to tackle the issue rationally, do not understand what makes up their credit score. The largest components of your credit score—your credit history and the amount you owe—are both influenced by debt settlement, one negatively (credit history) and one positively (the amount you owe). Although your credit history is marginally more important than the amount you owe when factoring your score, the difference (5%) is rarely enough to compensate for the savings from enrolling credit card debt into a settlement program. The more money you’re able to save from enrolling in a debt settlement program, the less the credit impact should be considered a factor. Why? Because any higher interest rates that you’ll end up paying down the road as a result of the credit impact will rarely outweigh the money you saved by settling credit card debt. So who in the end benefits the most from a settlement program—-1) people who owe a lot; 2) people who can only afford to pay the minimums; 3) people who are paying high interest; and 4) all of the above. To illustrate this point, consider the following examples.

Let’s assume that you owe $30,000 in credit card debt. Your average annual percentage rate on these cards is 19 percent, and you are only able to afford the minimum monthly payment, which in your case adds up to $750 total. Given this scenario, it would take you approximately 12 years and $108,000 before finally you dug out of debt. In a debt settlement program, however, it would take approximately 3 years and $16,500 total to eliminate your debt. That’s a $91,500 difference versus making the minimum payments. Rarely will your subsequent higher interest rates ever make up the savings from debt settlement, especially when you consider the fact that you can always refinance any loans once you’ve built up enough equity.

One of the most frustrating things to come across in our industry is a consumer who owes a lot and is only able to afford the minimums, but was still unwilling to sacrifice their credit even in the slightest bit in order to climb out of debt and save money. I recently dealt with a consumer from the South Side of Chicago who was $40,000 in the hole with credit cards. His interest rates were at 29 percent and he was only able to afford the minimum payments, which amounted to $1700 total in his case. When he tried to convince the creditors to lower the rates, they simply told him that based on the amount of outstanding debt on his credit report he was too much a credit risk, so they needed to charge him higher interest. When he tried to obtain a home equity loan, he was turned down for the same reason, even though his credit score was in the high 600s. Yet when I mentioned that our debt settlement program might impact his credit negatively, he scoffed. There was no way he would ever affect his credit negatively. At the end of our conversation, I tried to referring him to our affiliate credit counseling company, but he wasn’t interested because enrollment in a debt management plan would appear on his credit. His decision to stay on course with the minimum payments will ultimately cost him over $20,000 a year and probably his young children the opportunity to attend a 4 year college, maybe more.

By failing to be realistic and rational in his approach to the impact of debt settlement on his credit, this consumer worsened his financial situation significantly. He thought of his credit score not as something that can save him money by getting him lower interest rates on loans, but rather as some sort of social marker on where he was at in life. He considered the idea of a negatively affected credit score probably much like someone in the Middle Ages thought about the idea of being excommunicated or the way a 14 year old feels about not being part of the “in crowd” at school.

When considering your debt resolution options, I urge you to look at the options available to you realistically. When comparing debt settlement to the other options available to most consumers I find myself famous Winston Churchill quote on democracy:

Debt settlement is the worst form of debt resolution, except for all the rest of them.

In fact, when used properly, credit cards are a very powerful wealth-building tool! I use credit cards for every single possible purchase.

By using credit cards you get…

1) A two-months interest free loan

When you buy a product using your credit card, you will only be billed for it at the end of the month. You are then given another month to make payment. So, if you pay off your total bill, you would have effectively gotten a two-month interest free loan.

2) Bonus points and dollars

Each purchase you make on your credit card(s) will earn you bonus points which you can use to redeem for free products and services like extra flyer -miles and dining vouchers, saving you even more money.

3) A monthly statement that tracks and consolidates all your expenses

At the end of every month, the credit card company will tabulate for you the total expenses for the month, making it easy for you to track your total expenditure. So it becomes a free money management tool.

However, you MUST ALWAYS PAY THE OUTSTANDING BALANCE when you pay the full balance every month. This way, the bank does not earn a cent off you, but you get the three great wealth building services mentioned above. This is what I do and that is why my bankers hate me.

So why do banks go all out, giving freebies and spend millions of dollars in advertising to hook you on using their card? They know that there are many consumers out there who just pay the minimum sum every month (about 3% of the total debt you owe), because it is so tempting. What’s worse is that many credit card owners don’t even pay their minimum sum on time because of a cash crunch or because they plain forgot.

The moment you pay only the minimum sum and allow your outstanding balance to roll, you become the bank’s best friend. This is when they will make a killing off you! Why? This is because banks charge a 2% per month interest on your outstanding sum. This may seem small, but again, that’s 24% interest a year. Just how much interest does this add up to? Let’s do the sums…

Question: Imagine if you had an outstanding balance of $2,000 on your credit card statement, and you just pay the minimum sum of $60, how long will it take for you to pay off the while balance? (this is only assuming you do not charge a single dollar more).

The shocking answer: It will take you 4.5 years! You would have paid a total of $3,300, that’s $1,300 in interest. In other words, you would pay an actual interest rate of 65% off your balance.

So when used properly credit cards can greatly assist you in creating wealth or it can destroy you if abused.

Caffeinated Content - Members-Only Content for WordPress