Wealth|Knowledge and Action… Creates Wealth
Sep
30
Filed Under (Elections) by wealth
Lemoned asked:
Who will be making the wealth to go around to sustain everyone in the future?
I would like to know how it is possible.
Nonpartisan question,and no rants please.Thanks in advance.
CAROL
Who will be making the wealth to go around to sustain everyone in the future?
I would like to know how it is possible.
Nonpartisan question,and no rants please.Thanks in advance.
CAROL
Sep
23
Filed Under (Elections) by wealth
DynaFlowHum asked:
Obama told Joe the Plumber that; “When you spread the wealth around it is good for everyone.” My question is IS IT?
BRENDAN
Obama told Joe the Plumber that; “When you spread the wealth around it is good for everyone.” My question is IS IT?
BRENDAN
Sep
06
Filed Under (Advice) by wealth
Dan Robey asked:
Can you really build wealth automatically?
The answer is yes…you just need to acquire a new wealth building habit.
You are going to love this habit because you do not even have to remember it….a banking computer remembers the habit for you! How is that possible? Read on and you will soon see.
Here is how the automatic wealth building habit works. It is based on the miracle of compounding interest and the amazing banking technology that is available to virtually all of us today.
Step 1
If you do not have a bank account with “Bill Pay” go to a bank that has it and open a new account. Ask them how many checks can be sent per month, can it be managed via the internet, what are the costs. Many banks now offer this service for free as a promotion to get more customers.
Step 2
Decide who it is that you want to help build wealth. Yourself, your child, a grandchild, or even a friend. This habit also works for building spiritual wealth…more on that later.
Step 3
After you open the account you now have the ability to select any amount of money that you want sent to any person or organization and at almost any time interval. Some banks even offer an unlimited amount of bills that can be sent. The banks will then mail checks at regular intervals to the people or organizations you have designated…you do not have to do anything.
The real power of this habit is that you are not going to be sending bills in most cases…you will be sending wealth building payments….automatically!
OK, before we get to step 4 let’s look at the amazing power of compounding interest to see how much wealth can be built over time with this habit.
Here is an example of how much wealth you could build by having your billpay send just $50 per month into an account (mutual fund, IRA, etc) that has a 5% yield.
1 Year = $615
5 Years = $3,400
10 Years = $7,764
25 years = $29,775
You can learn more about compounding interest by doing a Google search on the internet. Obviously the amount of wealth you can build varies with the amounts and frequency of bill payments sent to your wealth building accounts and your rate of interest.
This is where research can help you, it is beyond the scope of this article to show you all the amazing possibilities that exist.
The beauty of the bill pay system is that it is very easy to adjust your recurring amounts up or down based on your current financial situation. As an example, you could set up your bill pay to send $12.50 each week into an account (Equals $50 per month) or change it to $15 per week for a few weeks and then back down to $12.50 at a later time. You decide exactly who gets the money, how much, and how often….you have complete control at all times. It is amazing wealth building power.
Step 4
Now it is time to set up your automatic wealth building habit using your banks billpay system. Get the address of the person or organization you want the money sent to including the account number. Go online and set up a new account with this information. Set frequency and amounts. Note: I have been doing this since 1992 and have multiple accounts (Charities, IRA’s etc) that have received money from me every month for 14 years and I have never written or signed a single check! I know from personal experience that the system works and I have never had any problems.
You can get very creative with how you build wealth and who you help build wealth.
* Set up an automatic bill pay to fund a child’s college education. There are many states that have plans that start with low monthly fees when the child is born or still young.
* Set up an automatic bill pay to fund a child’s savings account, just have the money be sent to the child’s bank with their account number listed on the check memo “Deposit to account ######”
* Set up an automatic bill pay to send a charity a payment every week. Remember that I said earlier that this habit can help you build spiritual wealth? If your church receives an automatic charity payment every week you are helping to support your church every week, even when you miss a Sunday service.
* Set up an automatic bill pay to send money to someone in need.
* Set up your bill pay to actually pay bills that you have paid late in the past….you may be able to save enough in prevented late fees to fund your wealth building payments!
The possibilities are endless…..you just need to take action and make it happen!
DOUGLASS
Can you really build wealth automatically?
The answer is yes…you just need to acquire a new wealth building habit.
You are going to love this habit because you do not even have to remember it….a banking computer remembers the habit for you! How is that possible? Read on and you will soon see.
Here is how the automatic wealth building habit works. It is based on the miracle of compounding interest and the amazing banking technology that is available to virtually all of us today.
Step 1
If you do not have a bank account with “Bill Pay” go to a bank that has it and open a new account. Ask them how many checks can be sent per month, can it be managed via the internet, what are the costs. Many banks now offer this service for free as a promotion to get more customers.
Step 2
Decide who it is that you want to help build wealth. Yourself, your child, a grandchild, or even a friend. This habit also works for building spiritual wealth…more on that later.
Step 3
After you open the account you now have the ability to select any amount of money that you want sent to any person or organization and at almost any time interval. Some banks even offer an unlimited amount of bills that can be sent. The banks will then mail checks at regular intervals to the people or organizations you have designated…you do not have to do anything.
The real power of this habit is that you are not going to be sending bills in most cases…you will be sending wealth building payments….automatically!
OK, before we get to step 4 let’s look at the amazing power of compounding interest to see how much wealth can be built over time with this habit.
Here is an example of how much wealth you could build by having your billpay send just $50 per month into an account (mutual fund, IRA, etc) that has a 5% yield.
1 Year = $615
5 Years = $3,400
10 Years = $7,764
25 years = $29,775
You can learn more about compounding interest by doing a Google search on the internet. Obviously the amount of wealth you can build varies with the amounts and frequency of bill payments sent to your wealth building accounts and your rate of interest.
This is where research can help you, it is beyond the scope of this article to show you all the amazing possibilities that exist.
The beauty of the bill pay system is that it is very easy to adjust your recurring amounts up or down based on your current financial situation. As an example, you could set up your bill pay to send $12.50 each week into an account (Equals $50 per month) or change it to $15 per week for a few weeks and then back down to $12.50 at a later time. You decide exactly who gets the money, how much, and how often….you have complete control at all times. It is amazing wealth building power.
Step 4
Now it is time to set up your automatic wealth building habit using your banks billpay system. Get the address of the person or organization you want the money sent to including the account number. Go online and set up a new account with this information. Set frequency and amounts. Note: I have been doing this since 1992 and have multiple accounts (Charities, IRA’s etc) that have received money from me every month for 14 years and I have never written or signed a single check! I know from personal experience that the system works and I have never had any problems.
You can get very creative with how you build wealth and who you help build wealth.
* Set up an automatic bill pay to fund a child’s college education. There are many states that have plans that start with low monthly fees when the child is born or still young.
* Set up an automatic bill pay to fund a child’s savings account, just have the money be sent to the child’s bank with their account number listed on the check memo “Deposit to account ######”
* Set up an automatic bill pay to send a charity a payment every week. Remember that I said earlier that this habit can help you build spiritual wealth? If your church receives an automatic charity payment every week you are helping to support your church every week, even when you miss a Sunday service.
* Set up an automatic bill pay to send money to someone in need.
* Set up your bill pay to actually pay bills that you have paid late in the past….you may be able to save enough in prevented late fees to fund your wealth building payments!
The possibilities are endless…..you just need to take action and make it happen!
DOUGLASS
Sep
02
Change Now asked:
We redistribute wealth everyday in this country and we’ve been doing it for years. Why all the fuss?
DEWAYNE
We redistribute wealth everyday in this country and we’ve been doing it for years. Why all the fuss?
DEWAYNE
Sep
01
Filed Under (Finance) by wealth
Sean Rasmussen asked:
There’s an age-old rule of thumb that is well-known in circles of wealth creation; the 80/20 rule. In effect, the 80/20 rule just proves something you probably already know, but recognizing the 80/20 rule serves to liberate individuals interested in creating wealth, helping them to move on to bigger and better things.
The 80/20 Rule In Wealth Creation
What is the 80/20 rule? It’s a way of understanding the distribution of wealth; a way to put wealth-holding in perspective.
The 80/20 rule in wealth creation is this:
- 80% of the people in the world make 20% of the money; in other words, in terms of wealth distribution, a scant 20% of the wealth in the world is divided amongst 80% of the world’s population - and in gross disproportions at that.
- 20% of the people in the world make 80% of the money; in other words, in terms of the distribution of wealth, a whopping 80% of the money in the world is controlled by a miniscule 20% of the population.
Many exerts in the wealth creation field will refer to this rule not as the 80/20 rule, but as the 90/10 rule. That’s because they believe the distribution of the world’s wealth to be even more disproportionate, with 90% of the money in the world being controlled by a mere 10% of the world’s population.
This hardly seems fair, and in fact there is little fair about it. But as long as there are free markets, there is money that can be made by that 80% of the population, and those percentages certainly can change.
Tipping The 80/20 Scales
Realistically, then, what can the average person do to make money and create his or her own wealth? Is this even possible? Or are these percentages set in stone, incapable of changing?
Of course there is opportunity to change, at least for those in the “free” world. Average men and women the world over can educate themselves and learn the ways to make money, to build wealth and financial freedom of their own. But they have to take the initiative.
There are excellent wealth creation programs online (and off) for building personal wealth. Sure, there are scams, too, but there are a number of proven, successful programs for creating wealth that have made regular men and women in many nations rich - free from the stresses of the working life, stripped of the confines of the “rat race”. It does take a little effort to study these programs and decide upon a winning equation for financial success that will work for the individual, but assuming that the right financial wealth-creating program has been identified, there is more for the successful wealth builder to do.
The successful wealth builder puts forth a passionate effort.
Not a careless effort; not a haphazard effort; not a half-hearted effort; a true effort. Successful wealth builders the world over have one thing in common (and it doesn’t matter what kind of system for making money he or she is using). The ones who get rich set their minds on a goal, and steel themselves to the work that must be done. They do what it takes, and it pays dividends.
The one thing everyone likes to say relative to wealth creation is that “if it sounds too good to be true, it probably is”. While this may apply to get-rich schemes, it does not apply across the board to wealth creation. Wealth can be made as long as the person is willing, and is passionate about their goals. Great money making opportunities are out there, and they do not have to cost a lifetime’s worth of savings or consume every waking minute of the day (although admittedly, success is proportionate to effort expended, so long as that effort is expended efficiently).
To sum it up, the 80/20 rule is not written in stone. It can be changed. It can be 50/50. But as long as people believe that they cannot create wealth of their own, and as long as people are resigned to putting out the effort, the 80/20 rule, or something very close akin to it, will endure.
GERALD
There’s an age-old rule of thumb that is well-known in circles of wealth creation; the 80/20 rule. In effect, the 80/20 rule just proves something you probably already know, but recognizing the 80/20 rule serves to liberate individuals interested in creating wealth, helping them to move on to bigger and better things.
The 80/20 Rule In Wealth Creation
What is the 80/20 rule? It’s a way of understanding the distribution of wealth; a way to put wealth-holding in perspective.
The 80/20 rule in wealth creation is this:
- 80% of the people in the world make 20% of the money; in other words, in terms of wealth distribution, a scant 20% of the wealth in the world is divided amongst 80% of the world’s population - and in gross disproportions at that.
- 20% of the people in the world make 80% of the money; in other words, in terms of the distribution of wealth, a whopping 80% of the money in the world is controlled by a miniscule 20% of the population.
Many exerts in the wealth creation field will refer to this rule not as the 80/20 rule, but as the 90/10 rule. That’s because they believe the distribution of the world’s wealth to be even more disproportionate, with 90% of the money in the world being controlled by a mere 10% of the world’s population.
This hardly seems fair, and in fact there is little fair about it. But as long as there are free markets, there is money that can be made by that 80% of the population, and those percentages certainly can change.
Tipping The 80/20 Scales
Realistically, then, what can the average person do to make money and create his or her own wealth? Is this even possible? Or are these percentages set in stone, incapable of changing?
Of course there is opportunity to change, at least for those in the “free” world. Average men and women the world over can educate themselves and learn the ways to make money, to build wealth and financial freedom of their own. But they have to take the initiative.
There are excellent wealth creation programs online (and off) for building personal wealth. Sure, there are scams, too, but there are a number of proven, successful programs for creating wealth that have made regular men and women in many nations rich - free from the stresses of the working life, stripped of the confines of the “rat race”. It does take a little effort to study these programs and decide upon a winning equation for financial success that will work for the individual, but assuming that the right financial wealth-creating program has been identified, there is more for the successful wealth builder to do.
The successful wealth builder puts forth a passionate effort.
Not a careless effort; not a haphazard effort; not a half-hearted effort; a true effort. Successful wealth builders the world over have one thing in common (and it doesn’t matter what kind of system for making money he or she is using). The ones who get rich set their minds on a goal, and steel themselves to the work that must be done. They do what it takes, and it pays dividends.
The one thing everyone likes to say relative to wealth creation is that “if it sounds too good to be true, it probably is”. While this may apply to get-rich schemes, it does not apply across the board to wealth creation. Wealth can be made as long as the person is willing, and is passionate about their goals. Great money making opportunities are out there, and they do not have to cost a lifetime’s worth of savings or consume every waking minute of the day (although admittedly, success is proportionate to effort expended, so long as that effort is expended efficiently).
To sum it up, the 80/20 rule is not written in stone. It can be changed. It can be 50/50. But as long as people believe that they cannot create wealth of their own, and as long as people are resigned to putting out the effort, the 80/20 rule, or something very close akin to it, will endure.
GERALD
