Deep in my heart I reached the ideal of becoming Millionaire my family is the beginning, my life is on its way with all the positive acomplishments of humanity make this one be a way with heart a practice of will power. One million in less than five years...Welcome to my journey.
They speak of my drinking but never think of my thirst
This is the last day of the year and we all are wondering about our New Years resolution and considering that I have a commitment to make one Million Euros in less than five years I want to share with you, that the challenge is here and its coming true.
I just realized that I need more than one lasting personal goal or project, I have to be into something always at all times it is my nature, and what I have written is certainly too short to do it full justice; but at least I have touched on many aspects therefore I have decided to reform a habit.
I will go 365 days without drinking I know this will require making a conscious choice each and every time I’m confronted with the temptation. It’s not so much about setting a 365 day plan, but rather setting and living a moment-by-moment plan. It is my hope all of these moments of making the deliberate decision to resist the temptation will all contribute to the final result I’m seeking. I want to test my will once again I want to see if I'm able to have that never ending spark while sober if I can resist temptation... I can easily answer yes it is a simple task and I will do it. Drunkenness is nothing but voluntary madness.
You may notice the headline for this last post of the year in the form of a statement. The reason for this is because I want it to be clear.
I have always experienced the gap, the thin line in my soul between alcoholism and sobriety as paper thin and always in danger of being erased, I used to always confront myself with the never ending existential problems while having a hangover, and I hate that lack of energy as a result of it. There is plenty of family history to suggest both a propensity and a genetic pre-disposition for alcoholism to surface inside me at any given time. It is a disease I have narrowly escaped most of my life – and I want to continue to do so.
My attempt to go 365 days without drinking a beer or having a glass of wine or Champagne will not erase my tendencies to drink for the wrong reasons and it certainly will not give me any moral ground to stand on if I am indeed successful. I just want to see if I can do it.
Too often, I have reached for alcohol to sooth my anxiety or to make me feel more comfortable when I’m with people I don’t know well. I associate going out at nights with drinking beer, champagne and wines and I eagerly look forward to that first Friday after-work drink, too.
Now, I want to try to experience all of these things without the usual assistance. My inner voice, my inner wisdom, has been suggesting this to me for some time now. Specially realizing that I lost some considerable money during my wild partying. Now It’s time to listen.
Day One started twenty days ago, Dec 11. 2011 Day 365 will be on Dec 11.2012. How I live the days in between will be the challenge. I really don’t have a roadmap or any past experience to draw on for these 365 days. All I have is determination and a hope I will learn new things about myself.
My hope is old wounds that sometimes open and fester with insecurity when alcohol is the instigator will begin to close. I will not be healed or fixed in these 365 days, but there is hope I will have gain valuable personal insight that will help me get the real major goal of a Million Euros.
I’m not sure what will happen on Dec 11. 2012 I can’t say if I will drink again or at what level and frequency. I do, however, have faith and confidence in whatever happens between now and then will be the right thing for me. So, a leap of faith begins.
By making this very public announcement, I’m asking to be held accountable for my actions. Some things in our lives are much bigger than we are. And I am already pleased with all the beauty around me.
Pride and arrogance contribute to our failure when we fail to ask for help. Ironically, it takes confidence and courage to ask. Confidence in that we believe there are people in our lives who care enough to listen and support us. Courage in the sense we want to keep moving forward in spite of the obstacles and pain.
It will be difficult finding alternatives for the Sunday afternoon glass of wine or the cold draft beer during a dinner out. For me it’s just been a matter of habit; a matter of comfort.
Just as the physical act of drinking is a habit, so is the dependency on the calming effect the alcohol provides. Therefore, I may substitute a beer for a glass of cold water, but more importantly, I will need to discover alternatives to finding comfort and peace. This will be the biggest challenge and hopefully the greatest opportunity for me.
Investing more time in reading, writing, investing, improving relationships, exercising and just thinking are seem to be the likely candidates right now. I know a certain degree of peace in my life can be rejuvenated and restored by focusing in these areas. I’m also certain I will find comfort by learning how to take better care of myself.
The thought of truly feeling all of my emotions without the faint haze of melancholy draping over me is invigorating. I’m looking forward to going into a Friday afternoon with the knowledge I can be at peace and content by just being Me; no other assistance will be required.
Some days will be easier than others because it wasn’t my habit to drink everyday. Typically, I would not drink alcohol during the week. It will be the weekends, or being in a restaurant or a night out that will be the most challenging. There is also a vacation planned for later in May that will undoubtedly give me some concern. However, the cliché take it one day at time is the best advice I can try to follow.
I know by heart that if I can manage this challenge I will have a clearer perspective and more energy to focus on my main goal and by now you all know what it is...so let me wish you the Best New Year ever!!! don't forget to let all your dreams come true, keep writing to me, keep investing and above all keep positive the real secret is that there is no secret!!! Happy 2012 and see you on the other side!
Now that the snow is starting to make its presence in Finland and the Christmas feelings are all around I want to share what happened to Comedian Louis C.K. He was annoyed that he never saw a royalty check from sales of his standup specials through traditional outlets like DVD or iTunes. So he produced his own recent special, sold it online directly to fans for $5 -- and made a cool million in just 10 days. That is one of the great advantages of technology during this times, and this is just the beginning, many cases like this will flow during 2012
Louis C.K. announced the sales milestone on Wednesday night's episode of "Late Night with Jimmy Fallon."
Louis C.K. began selling the special, filmed at New York's Beacon Theater, on December 10. He put up a simple website that directed customers to "buy the thing" through eBay's (EBAY, Fortune 500) PayPal for $5. A footnote explained that the file has "no regional restrictions, no crap. You can download this file, play it as much as you like, burn it to a DVD, whatever."
Louis C.K. called it an "experiment" when he launched the sale. Wednesday's $1 million milestone showed that it's paying off.
Jimmy Fallon asked: "You just said 'Hey, everyone who wants to see the show, you give five bucks'?"
Louis C.K. paid to produce the special "out of my own money," he responded. "So I had it. And I said, I can just give it to people for a little bit of money."
A friend told him "everyone's going to steal it...so I just wrote a note that said, you know, please don't do it," Louis C.K. said, as the audience laughed. "And they didn't. So it made a lot of money."
Louis C.K. said he was shocked as he watched the orders come in -- and then began to feel guilty about the amount he'd netted.
"I've never had a million dollars all at once. I grew up pretty poor and I was like, this is not even my money," he said. "This is just a five-dollar impulse that 220,000 people had, and now I have it. And I felt uncomfortable about having that much money."
So Louis C.K. set aside $250,000 to cover the cost of the expenses of producing the special, then doled out another $250,000 in bonuses for his staffers.
He then donated $280,000 to five charities: The Fistula Foundation, The Pablove Foundation, charity: water, Kiva and Green Chimneys.
"I was going to [donate] $100,000, but it's like blackjack -- I just kept dishing it out," he told Fallon.
That leaves $220,000 left over.
"Some of that will pay my rent and will care for my childen [sic]. The rest I will do terrible, horrible things with and none of that is any of your business," Louis C.K. wrote in a statement posted on his website.
A $220,000 profit is plenty, he added.
"I never viewed money as being 'my money' I always saw it as 'The money.' It's a resource. if it pools up around me then it needs to be flushed back out into the system," he wrote. "If I make another million, I'll give more of it away."
Great idea to end the year...Hope all the celebrations are full of hope and love keep witting the objective of 1 Million Euros in less than 5 years is closer than ever!
Investments advisers support clients on how best to save, invest, and grow their money. They can help you tackle a specific financial goal—such as readying yourself to buy a house—or give you a macro view of your money and the interplay of your various assets. Some specialize in retirement or estate planning, while some others consult on a range of financial matters. The idea of this blog is to give you an idea on what to do with your money to get the Millions, but what if you already have them? Then the best idea is to find someone to manage your money and assets in such a way that keeps them growing.
I recently received an e mail from a 45 year old couple asking me advise on Where to go and Who to see, of course my advise helped them for some time, but when they started searching for an adviser to manage their mid-six figure account, they learned that charges of 1.5 percent -- about $7,000 per year -- weren't unusual.
The good news for people like them is that there are less expensive solutions out there, even as investors transition away from commission-driven advice to fee-only, or fee-based approaches.
More advisers than ever are now following some sort of fee-driven approach in which investors pay for the advice and management they get directly, instead of having those fees hidden in higher investment costs that show up as commissions. Fee-only advice is generally considered to be a more conflict-free approach, and individual investors are starting to appreciate that.
From 2007 through 2010, when the Dow Jones Industrial Average dropped a total of 17 percent, the average adviser's assets in fee-based accounts rose 24 percent, according to PriceMetrix.
But, as many people discovered including myself, those fees can be hefty, and, paradoxically, the less money you have to manage, the more it can cost you, therefore try to do it yourself until you can really pay for it. In the world of investment management, size matters. "Larger accounts are usually more cost effective for advisers than smaller ones," It's kind of like the financial services equivalent of getting a volume discount."
Indeed, half of portfolios in the $250,000 to $500,000 range pay annual fees of 1.5 percent or more, and one-quarter of them pay annual fees that exceed 1.75 percent. Those with $1 million-plus accounts fork over a much tamer 0.92 percent. On average, expect to pay fees of 1.32 percent of assets under management.
Now, a growing group of financial advisers are coming up with ways to charge half (or less) the amount of the industry average with flat fees. By doing so, they say they can shave $1,000 or more in charges a year for every $100,000 in the portfolio. Their services appeal to those who don't quite fit into the high-net-worth category, but who want complete oversight rather than just investment and allocation recommendations. An annual fee typically covers setting up the portfolio, phone consultations with an investment manager at least once a year, the cost of executing trades and periodic re balancing. I always offer cheaper ways to execute trades and periodic re balance as well as phone consultations twice a month, but my accounts are much more smaller.
The firm the couple choose, Flat Fee Portfolios, is part of MACRO Consulting Group, a New Jersey investment advisory and financial planning firm. The service, which includes semi-annual phone reviews by a manager assigned to the account, costs a flat fee of $199 a month. As a result, the Colons now pay a shade less than 0.5 percent a year for investment management fees.
Accounts of less than $250,000, which pay $129 a month, get a pared down version of the higher-priced service.
Another low-cost firm, Troy, Michigan-based Portfolio Solutions, charges 0.25 percent of assets to assemble and manage a portfolio of index-based exchange traded funds and mutual funds. There's a minimum annual charge of $2,500 per household, and the firm doesn't accept accounts of less than $500,000.
Another way to keep advisory costs low is to pay by the hour for just the advice you need. The Garrett Planning Network in Shawnee Mission, Kansas provides referrals to advisers who charge hourly rates. Consider an hourly plan to offer to your clients if their finances aren't especially complicated, once wrote to me Kent Grealish, partner at Quacera in San Bruno, California and a member of the national 329-member network.
Grealish, a former stockbroker with 38 years of experience, pegs the initial cost to set up a simple investment plan at around $2,400, based on his rate of $240 an hour. That comes to just under 1 percent for a $250,000 account. In subsequent years, when he needs to put in less time, the charge typically falls to $480 to $720.
In reality my clients only pay for the work I put in and a 50% of the profit I make, not by how much they have in the account. "That makes a lot more financial sense for most people than the traditional assets under management model."
While most discount brokerage firms offer investment management services, their charges vary widely. With Fidelity Personalized Portfolios service, fees start at 1.5 percent on the first $500,000 in assets, and the service requires an investment minimum of $200,000. Vanguard charges 0.70 percent of assets on the first $1 million, but has a $500,000 minimum and $4,500 minimum annual charge. And if a discount brokerage firm has its own brand of mutual funds or ETFs, it's likely those offerings will figure prominently in their recommendations.
Even if published fees appear high at first glance, there is often room for negotiating discounts, especially if it's likely you'll be adding money to the account over time or are in a position to help build business through referrals. (Vanguard doesn't discount its published fees for investment management, according to a spokesperson. Fidelity has no official policy on negotiating published rates on an individual basis, but says part of the fee is credited to the account if the portfolio holds Fidelity funds or any of the funds in the firm's brokerage network.)
People with $25,000 to $100,000 accounts who want investment management have a more limited menu of options to choose from. One of them, E*Trade's Managed Investment Portfolios, has an investment minimum of $25,000 and cost 0.75 percent of assets a year for amounts up to $100,000. Another smaller investor option, MarketRiders Managed IRA program, charges an annual flat fee of $495 and uses index ETFs and mutual funds to implement its recommendations.
Of course, fees are just one thing to consider when choosing an advisory firm. Lower-cost services focus almost exclusively on investment management and may include automated programs, so they tend to work best for people who don't need lots of hand holding and have low-touch, simple financial situations.
"One of my clients who used to pay $1,000 a year for investment management told me he missed getting calls from his adviser every couple of weeks,". "This guy was paying thousands of dollars for a lot of telephone calls he really didn't need."
So pay attention on How to find the best option and once you find it you should know that every conversation you have on any investment advise, could help you in the future, therefore here is a great tool to record any Skype conversation you want
Riviera for Skype is a Skype call recorder. It automatically records Skype calls and conversations to MP3 files. It is also very convenient for recording interviews, tech talks, conferences, audio casts, pod casts for learning later, etc.
Let the Christmas magic festivities begin! keep investing here and now, it is time...and keep writing. I had a big setback during this weekend but now I know and I feel I learned the lesson keep in touch...
Christmas is here and the feelings of peace, Joy and happiness are all around, enjoying the most of my family... and then comes the time to share the best of a book written byHill Harper a New York Times Bestselling author. Hill is a graduate of Harvard and Brown Universities, and when he's not writing, he stars on CSI: NY. A couple of months ago Hill contacted me and I agreed to write a review of his newest book The Wealth Cure which looks at wealth as a reward of a gratifying life full of rich experiences, instead of in the monetary sense of it. While he does share ways to create financial stability, he reflects upon the idea that there is much more to personal wealth than money. The Wealth Cure came out August 23, 2011and it is my pleasure to write a brief review about it.
It is inspiring, encouraging, and insightful. The book is not just about money and how to save it or spend it. Instead, it’s about living a meaningful life enjoying every single moment and how money plays a part in that.
One of the main ideas of this book is to emphasize that wealth is comprised of so much more than just money, and that as a society we need to “create a new definition of abundance” so that our way of living will change for the better. He says we “make irrational and often destructive choices because we have given money and its pursuit too much value.”
Rather than defining wealth as merely having a high net worth monetarily, Hill defines true wealth as “having our life balanced and organized so we are free to pursue any dream or happiness.” He also challenges his readers to figure out what their individual “Wealth Factors” are. In other words, he wants his readers to really think about what is most important to them – what things provide them with a real sense of well being.
Hill also reminds his readers that “You can’t be free if the cost of being you is too high.” In other words, how do you ever except to attain financial freedom if you spend your pay check even before you receive it? How can you afford to do the things you love if you always spend your money on things that don’t even make you happy? Hill’s advice- “Stop spending what you don’t have on what you don’t need.”
Throughout the book, Hill also emphasizes the fact that money is simply a tool, and it’s neither good nor bad, it’s neutral. How you treat money actually defines what money is to you. Money is not a result as so many of us might assume. It just enables us to do what’s important to us. Hill goes on to emphasize that the purpose of money is NOT to spend it and that it takes courage to save money and not allow yourself to be pulled into spending. This gave me the insight to realize that you can get the amount of money that you really want one million in less than 5 years welcome to my journey.
Another interesting thought brought up in the book was that “our financial actions and our decisions about what we can and can’t afford can so easily be guided – and misguided – by fear.” When deciding whether to practice law or pursue acting, Hill’s wise Uncle Frank told him, “If you are making any decision solely based on money, then it is the wrong decision.” All too often we make decisions that are detrimental to our well being out of fear of not having enough money to pay the bills, etc. I think we all need to start listening to Uncle Frank. Sure, money may be an important factor in our decision-making, but it shouldn’t be the only factor. And we shouldn’t allow our fears to trap us into staying in jobs we dislike or living lives that are less than satisfactory we always have to enjoy what we do.
Hill provides his readers with advice on how to be successful and work towards becoming unreasonably happy. One suggestion is to form a “Mastermind Circle”. A Mastermind Circle is a group of individuals with a common goal or interest that acts as a support group where each member gains encouragement and inspiration, and every member contributes. These members do not need to be your friends but they need to be people who have your best interests at heart.
Another piece of advice is to determine that you are going to be happy. Make the conscious decision to pursue happiness in your life. Recognize that “when you decide to be happy, you take control of your life’s direction, as opposed to waiting for the right object to fall in your path or the right job opportunity to crop up.”
Another tip is to recognize the importance of actually talking about money. As Hill says, “If you don’t talk about money, how are you supposed to learn about it?” Ask your parents and trusted friends how they manage their finances or find a trusted adviser and learn as much as you can. Don’t be afraid to talk about money,don’t be afraid to learn about money.
Hill also emphasizes the concept of treating your life as a business. Are you a satisfied customer? Seek consultants to help you just as you would if you were running a business. Consider yourself an architect that is designing and building the business from the ground up. As your own architect, you are in control of your life’s direction.
Finally, and most importantly, Hill emphasizes that “the things we love can, and will, bring us the most joy and – believe it or not – the most wealth.” Don’t discount the things in your life that bring you the greatest joy – chances are, the things at the top of the list will not be money. And, many folks make a living doing the things that they love, so don’t discount the idea that your hobby could turn into a viable business someday. Sometimes all it takes is a little encouragement.
So what is Hill’s Wealth Cure? Here’s what Hill has to say: “A true Wealth Cure for me is to seek a balanced healthy relationship with all things in my life, especially money.” And always remember, “Money can carry anything we assign to it. It can carry our doubts, fears, and greed. It can also carry our love, hopes, and generosity.”
The Wealth Cure is a definite must-read! A perfect gift for Christmas!. You feel as if you are sitting right across from Hill and listening to him telling you his own story. You will love it.
Keep the messages coming, next week a review for a great skype conversation recorder, keep the spirit up, keep investing two shares you must have from the Finnish stock market
1) Talvivaara TLV. Is an internationally significant base metals producer with its primary focus on nickel and zinc.
2) Oral ORAThe dental care company just recently came to the Finnish market The company is listed on the NASDAQ OMX Helsinki. Oral Hammaslääkärit comprises of 600 dental care professionals. The company's net sales for 2010 amounted to EUR 39.4 million.
Both of them are less than 3euro per share a must have until mid next year.
During the last month I have been submerged in celebrations, so days of glory are now gone, a broken door another party, another feast of pleassure, then go back to normalon the objective of the Million waiting for you, waking up another day to celebrate the father's day, back to life once again, another chance, however and when I felt stronger I tested my luck trainning again trying kick boxing and there it was the crude reality a broken rib, nothing to do but wait... and here Iam writting again and now the "credit crunch"
The objective of this post is to pay and help you pay all your credit cards so you and me could have a fresh start for 2012 as I previously stated cash is king, so the main point is to use your credit card only and only then when you really need to...
I have around 7 credit cards and the more I was offered credit, the more I gladly took, now it is common sense that if you have a daily job and a business here and there, then you can easily afford to pay the monthly and yearly fees, so against the general idea of cancelling your credit cards I would say keep them and use them only when you need them, If you have been reading this blog you could have a certain appreciation to use the credit for Investing ...paying back the credit then cash the gains and start all over again...but to get there first we have to undestand how credit cards work,
Have you ever stood behind someone in line at the store and watched him shuffle through a stack of what must be at least 10 credit cards? Consumers with this many cards are still in the minority, but experts say that the majority of U.S. citizens have at least one credit card -- and usually two or three. It's true that credit cards have become important sources of identification If you want to rent a car, for example, you really need a major credit card. And when used wisely, a credit card can provide convenience and allow you to make purchases with nearly a month to pay for them before finance charges kick in.
That sounds good, in theory. But in reality, many consumers are unable to take advantage of these benefits because they carry a balance on their credit card from month to month, paying finance charges that can go up to a whopping 23 percent. Many find it hard to resist using the old "plastic" for impulse purchases or buying things they really can't afford. The numbers are striking: In 2011, American consumers charged about $2.43 trillion on their general-purpose credit cards.
Let's start at the beginning. A credit card is a thin plastic card, usually 3-1/8 inches by 2-1/8 inches in size, that contains identification information such as a signature or picture, and authorizes the person named on it to charge purchases or services to his account -- charges for which he will be billed periodically. Today, the information on the card is read by Automated Teller Machines(ATMs), store readers, banks and Internet computers.
Here are what some of the numbers stand for:
The first digit in your credit-card number signifies the system:
3 - travel/entertainment cards (such as American Express and Diners Club)
4 - Visa
5 - MasterCard
6 - Discover Card
The structure of the card number varies by system. For example, American Express card numbers start with 37; Carte Blanche and Diners Club with 38.
American Express - Digits three and four are type and currency, digits five through 11 are the account number, digits 12 through 14 are the card number within the account and digit 15 is a check digit.
Visa - Digits two through six are the bank number, digits seven through 12 or seven through 15 are the account number and digit 13 or 16 is a check digit.
MasterCard - Digits two and three, two through four, two through five or two through six are the bank number (depending on whether digit two is a 1, 2, 3 or other). The digits after the bank number up through digit 15 are the account number, and digit 16 is a check digit.
Now If you went too deep on the use of the plastic here are some ways to Pay off your debt...remember 2012= "0" bebt.
You can throw the reminders in the Cuisinart or chuck them into a garbage can, but that won't make the debt go away. Debt hovers like a carrion bird over a dying beast, with annual rates of 20% or more compounded monthly, month in and month out. You can't wish it away. But you can pay it down with determination, and the good graces of a few wealthy relatives here are some ways to get out of debt:
1. Pay more than the minimum First, break the habit of paying only the minimum required each month. Paying the minimum -- usually 2% to 3% of the outstanding balance -- only prolongs the agony. Besides, it's precisely what the banks want you to do. The longer you take to repay the charges, the more interest they make, and the less cash you have in your pocket. Don't play their selfish game.
Here is a good example and demonstration. This is true to the fullest. In case anyone wants to see the math it goes like this...
debt 10,000 - minimum payment 142 = 9,858
9,858 * .17 * 1 / 12 = 140
17% being the interest rate
9,858 + 140 = 9,998
Real amount paid to credit card company = 10,000 - 9,998 = €2.00
Instead, bite the bullet and pay as much as you can each month. If your minimum payment is €100, double that to €200 or more. Examine your normal expenses -- you can find the money. Skip eating out at lunch, and bring it from home instead. Eliminate desserts. Give up happy hour. We all have "luxuries," and you know what yours are.
Make a few sacrifices, and you will find the extra money needed to increase your debt repayments dramatically. Those increased payments will save you hundreds, if not thousands, in interest payments. Plus, you will get out of the hole you've dug for yourself much more quickly. Is it fun? No. But it sure beats living a hand-to-mouth existence, fearing bills each month.
2. Snowball your debt payments Take a long, hard look at all your credit cards. Pay particular attention to the one with the lowest interest rate. Have you reached the maximum limit on that card? If not, consider transferring a higher-interest bill to that one. Many credit cards permit this, and it's positively Foolish to trade an 18% debt for one at 12%.
If your entire balance is too large to fit on one low-interest card, pay at least the minimum amounts due on all of your cards except one. Funnel the majority of your debt repayments into that card, and pay it off as quickly as possible. When the balance on that card reaches zero, move on to the next with the same aggressive repayment plan.
Lather, rinse, and repeat. This method of repayment is aptly called "snowballing." As your debts decrease, the amount of money you have to attack them increases. Your payments snowball until all of your debt is pummeled. Pretty neat, eh?
Another way to transfer higher-interest debt to a lower-interest card is to take advantage of the promotional offers many banks use to entice you to their line of credit. You've seen the come-ons. "Transfer all your credit card balances to us, and pay just 5.9% until next January." It could be worth it. Moving to 5.9% from 18% interest could mean substantial dollars to you. And the money saved in interest could then be applied toward the principal each month, thus reducing your outstanding debt balance even further.
Take care, though, before you act. Examine the offer closely. Look for the hooks. Will the interest rate after the introductory period be higher than you're paying now? If so, you may have to switch again at that time. That, in turn, could give rise to another surprise. Banks have caught onto the charge card hoppers who switch from card to card to take advantage of the low introductory rates. Many of these offers now stipulate that if you transfer balances from the new card within a 12-month period, the normal interest rate will be applied to all outstanding balances retroactively. That proviso could be a bitter pill to swallow for someone short on cash, and it certainly doesn't help the debt repayment schedule. Read the fine print.
3. Cash out your savings account Let's say you have 50,000€ on a savings account but 10,00€ on debt then the smartest thing to do is to cash out your savings and investments and use the proceeds toward debt repayment. Yeah, no one wants to do that. But sometimes it's just Foolish not to do so. Even when debt interest is at 12%, your investments would have to pay more than 20% before taxes to equal that outflow of euros. We doubt the euros in your savings account are earning anywhere near that rate of interest. Pay off the debt, and it's the same as getting that 20% return without any risk on your part. The higher the interest rate on your debt, the more attractive repayment versus investment becomes.
4. Finagle family and friends This is the best strategy but I can't affort to use it not until 100 years from now...perhaps your family or friends could float you a loan. Who else knows, trusts, and loves you like they do? Unless you're really the black sheep of the flock, chances are you'll get a very favorable interest rate. They may even tolerate a late payment or two. But if you want to maintain the relationship, it's best to keep things on the straight and narrow by using a written agreement. You should clearly establish the interest and repayment schedule in writing to avoid misunderstandings and hard feelings. And it goes without saying that you must be scrupulous about adhering to that schedule. Otherwise, you can forget the family reunions and birthday presents.
5. Get a home equity loan Do you own your own home and have equity that's accumulated through the years as you've paid off the mortgage? If so, now's the time to consider a (HEL) line of credit for the maximum amount possible.
A HEL gives you two ways to save. First, by using the loan proceeds to pay down your debt, you trade something like an 18% loan for a 6%-7% loan. Second, if you itemize deductions on your tax returns, HEL interest is a deductive item under most circumstances. In a 25% marginal tax bracket, the 6% loan really has an effective rate of 4.5%, and that's probably the cheapest interest rate you'll see on personal indebtedness.
The danger here is falling into a common trap. Many get an HEL, pay off existing debt, and then ring up the charges on the credit cards all over again. Now they have the HEL to repay on top of the credit cards. The hole just got much deeper. you can use the HEL to pay off the credit cards, and then keep them paid off until the HEL is repaid.
6. Renegotiate terms with your banks and creditors OK, you've done all you can. Savings are gone; relatives have been tapped out; you don't have a home to borrow against. You feel like you're against that proverbial wall. The money just isn't there. Is bankruptcy the only way out? No way. Try pulling an ace out of your sleeve prior to taking that step. What ace? The threat of bankruptcy, of course.
Let your creditors know your situation. Tell them that if you are unable to renegotiate terms, you'll have no other recourse but to declare bankruptcy. Ask for a new and lower repayment schedule; request a lower interest rate; and appeal to their desire to receive payment. Faced with the prospect that you may resort to such a drastic step, creditors will do what they can to protect themselves against a total loss.
Indeed, many will negotiate away the farm before they'll write off your debt. As I love to say, "everything is negotiable" Therefore, what do you have to lose, except time? It's worth a try. And if you don't wish to do this yourself, organizations exist that can do it for you.
7. As a last resort, file bankruptcy What if you decide you can't pay down your debt using any of the methods listed above? What should you do? The absolute last resort is bankruptcy. Within Fooldom, I firmly believe everyone has a moral obligation to repay their debts to the utmost of their ability. There are times, though, when repayment may be impossible. In those cases, bankruptcy may be the only available course of action. Nevertheless, be aware of the significant drawbacks.
Your credit record will contain this information for 10 years, thus ensuring you will have a tough time obtaining credit you can afford during that period. Additionally, as odd as it seems, it costs money to file for bankruptcy. Attorney and court filing fees cost in the hundreds of dollars, and they must be paid to obtain the relief sought. Finally, bankruptcy laws have gotten a lot tougher in recent years, so you may not qualify for complete relief.
There are two types of personal bankruptcy relief: Is straight bankruptcy that allows the discharge of almost all debts. Those that aren't discharged are alimony, child support, taxes, loans obtained through filing false financial statements, loans not listed in the bankruptcy petition, legal judgments against the petitioner, and student loans.
While you are relieved of the responsibility of repaying most creditors, you may have to surrender much of your property to help satisfy the debt. However, different countries have different laws that grant you exemptions on certain types of property, such as a certain amount of equity in your home, a low-value vehicle, small amounts of jewelry and other personal property, and tools you use in your trade or business. These exemptions usually aren't huge, but they do mean you won't have to start over with absolutely nothing.
You can keep your property but surrender control of your finances to the bankruptcy court. The court approves a repayment plan based on your financial resources that provides for repayment of all or part of your debt over a three-to-five-year period. During that time, your creditors are not allowed to harass you for repayment. You also incur no interest charges on the indebtedness during the repayment period. When all conditions of the court-approved plan have been fulfilled, you emerge debt-free from the bankruptcy.
Now here is the trick make the credit cards work for you and understand the numbers involved and there will be great gratifications.
I just got an e mail from one of my business partners and it seems that I got paid to plubish two articles a month even when I love what I do... I totally forgot this agreement so I will write as much as possible until December. So I can start a positive healthy 2012 in search of the Million Euros in less than 5 years...let's keep the journey toguether!
Part of the reason why obesity is at record levels throughout most of the industrialized world is because high quantities of food and high volumes of food consumption are historical components of survival and success. Humans are hardwired to equate edibles with wealth, and rightly so – we have to eat to live. But the mistake so often made in modern times, especially in industrialized societies, is that we feel we must continue to maximize our food consumption despite the fact that virtually no one in these societies is at risk for malnutrition if they commit to modest diets. The result is not only unhealthy living, but the curtailment of goals to grow personal wealth. Nothing is free, especially not food.
Measures to reduce the daily costs of living usually amount to decreased entertainment and a transition to prepaid phones and other forced limitations on spending. Yet they very rarely involve cutting down on the calories. Our natural survivalist instincts keep us from wanting to limit the food we feed ourselves and our children, yet for more reasons than just the savings such a decision could be soundly beneficial. The cost savings can and will take a back seat to the self-improvement seen if healthier approaches to eating are taken.
The federal government of the United States under President Barack Obama is encouraging American citizens to plan their meals through effective understanding of proper portions. This measure, enacted primarily through the website MyPlate.gov, is best conveyed via the update to the American food pyramid, which has now become a plate pied up into four separate sections of differing size, each identified by their food group. It's matter-of-fact limited courses such as these that not only help families improve their healthiness, but also beef up the sum of their available spending money.
The math is simple. Two helpings per meal per day reduced down to one can decrease monthly grocery bills by 50%. Chances are the reduction will in no way make members of your family become malnourished. Instead, chances are that your family will start consuming healthier portions than they otherwise would. It's a win-win situation for families looking to earn more income and stay physically fit.
Auditing, overhauling, and regulating family food consumption is a guaranteed way to not only make your family healthier but make your family wealthier. There's no reason to pack on extra pounds when you could be saving extra pounds instead. Put your family on the path to a better life by limiting what gets put on their plates. Autumn is here don´t let it get you down, keep moving keep writing me a thousand success stories are waitting to happen and Millions are ment to be made.
After having a two week holiday all around the Nordic countries, I had the time and pleasure to enjoy many of the fruitful conversations with my beloved aunt, she knows my purpose, One Million Euros inless than five years...the Holliday was awesome, in fact I haven't been able to sit and recapitulate until now I have been busy with the pleassures of life.
During all this time I was totally surprised that Hill Harper a New York Times Bestselling author, with titles including The Conversation, Letters to a Young Sister, and Letters to a Young Brother, has contacted me. Hill is a graduate of Harvard and Brown Universities, and when he's not writing, he stars on CSI: NY. Hill has contacted me to write a review of his newest book The Wealth Cure which looks at wealth as a reward of a gratifying life full of rich experiences, instead of in the monetary sense of it. While he does share ways to create financial stability, he reflects upon the idea that there is much more to personal wealth than money. The Wealth Cure came out August 23, 2011and it's going to be my pleasure to review his book in my blog soon.
Also Thomas Herold, Wealth Educator and Financial Author has contacted for the same purpose a review on his new book Building Wealth with Silver His new book reveals the most crucial facts on what’s happening with the world economy. How we got into this mess and what’s likely to happen in the coming years. It’s an essential guide that helps people protect their money from inflation. It also gives profound insider tips on how to make a fortune by investing in silver now.
But on the Stock Market arena I have to say it straight forward, right now it is advisable to cash out immediately I know I shouldn't be saying this because I love the game but I just did, I sold almost all my positions in the Stock Market because I just got the idea that we as humans we respond to all the social interactions of the external influences meaning that now summer is gone and difficult times are approaching but we have to remember the fact that when there are losers there are also winners so better be on the right side of the spectrum.
Investors seem finally to be taking the full measure of the panoply of risks and the exceptional uncertainty they face. What are their options in the current context?
Gold, perhaps the oldest refuge of nervous money, has attracted enormous interest from investors who have been rattled by the financial crisis. As of Thursday, gold’s annualized real return over the past five years is a stunning 18.3%. That rise has pushed gold into bubble territory, diminishing its claim to safe haven status; putting money into a bubble is hardly a prescription for capital preservation.
The yellow metal is even overpriced against our second candidate, the Swiss franc—despite the fact that the franc itself also looks overheated, as Buttonwood remarked last month. The Swiss National Bank, which is not prone to hyperbole, called its currency “massively overvalued” and promptly cut the target range for its key policy rate to 0.00-0.25%. The franc has appreciated by close to 40% against the euro since January 2010.
Finally, Treasuries are a reflexive choice in a crisis. Sure enough, the 10-year yield fell by roughly 20 basis points (yield is inversely related to bond prices), but locking in a 2.40% nominal yield is more akin to surrender than a genuine defensive strategy. Naturally, you can sell the bonds before they mature i just did, but that leaves you exposed to price risk.
In the flight to safety, however, investors are overlooking one asset class: Cash. Not all investors, mind you. The Quantum Endowment Fund—George Soros’s vehicle—is reportedly 75% in cash. At FPA Capital, Robert Rodriguez, a respected value investor and one of the few people to anticipate the credit crisis, has over 30% of his flagship fund in cash. And in an interview published on July 23rd, the head of PIMCO, Mohamed El-Erian told Barron’s:
And don't underestimate the value of cash; in a volatile world both good and bad assets are impacted, and the higher the probability of being able to buy good assets at really cheap levels. You don't want to be fully invested today.
In my own Multi-Asset Fund, JC'S holdings which I manage and control, I have 60% cash, which is very significant planning to make an agreemen on diversifying some of the Investments.
As Mr El-Erian suggests, cash has a characteristic that is often overlooked: its optional. Having cash on hand in a volatile market gives you the flexibility to purchase assets in the future at discounted prices. And that is exactly my next strategy purchase assets at discounted prices, It’s a mistake to feel compelled to be fully invested in an environment in which there are few attractive opportunities. Or as hedge-fund manager Seth Klarman puts it: "Why should the immediate opportunity set be the only one considered, when tomorrows may well be considerably more fertile than todays?" During periods of significant dislocation, when other investors are forced to liquidate positions, cash’s embedded option becomes particularly valuable.
The best measures of long-term value—the q ratio and the cyclically-adjusted price-to-earnings ratio—both suggest stocks are overvalued, even after the recent price declines. What if those discounted prices never materialise? It’s true that markets can remain expensive for long periods before value re-asserts itself, but the numerous risks in today’s environment are potential catalysts for that process to occur. When it does, prices typically overshoot on the downside along the way, at which point buying opportunities will come.
Donald Trump, paragon of the real estate world, files for bankruptcy. Richard Nixon, 37th U.S. President, resigns the presidency over the Watergate scandal. Jennifer Capriati, rising tennis star, enters a rehabilitation center for drug addicts. Jim Bakker, renowned televangelist, is convicted of fraud.
In the recent past, we’ve witnessed the public downfall of leaders from almost every area of endeavor — business, politics, religion, and sports. One day they’re on top of the heap, the next, the heap’s on top of them.
Of course, we think that such catastrophic failure could never happen to us. We’ve worked hard to achieve our well-deserved positions of leadership — and we won’t give them up for anything! The bad news is: the distance between beloved leader and despised failure is shorter than we think.
Why Leaders fail?
1: A Shift in Focus
This shift can occur in several ways. Often, leaders simply lose sight of what’s important. The laser-like focus that catapulted them to the top disappears, and they become distracted by the trappings of leadership, such as wealth and notoriety, parties and pleassure.
Leaders are usually distinguished by their ability to “think big.” But when their focus shifts, they suddenly start thinking small. They micro manage, they get caught up in details better left to others, they become consumed with the trivial and unimportant. And to make matters worse, this tendency can be exacerbated by an inclination toward perfectionism.
A more subtle leadership derailer is an obsession with “doing” rather than “becoming.” The good work of leadership is usually a result of who the leader is. What the leader does then flows naturally from inner vision and character. It is possible for a leader to become too action oriented and, in the process, lose touch with the more important development of self.
What is your primary focus right now? If you can’t write it on the back of a napkin, then it’s a sure bet that your leadership is suffering from a lack of clarity. Take the time necessary to get your focus back on what’s important.
Further, would you describe your thinking as expansive or contractive? Of course, you always should be willing to do whatever it takes to get the job done, but try never to take on what others can do as well as you. In short, make sure that your focus is on leading rather than doing.
Poor Communication
A lack of focus and its resulting disorientation typically lead to poor communication. Followers can’t possibly understand a leader’s intent when the leader him- or herself isn’t sure what it is! And when leaders are unclear about their own purpose, they often hide their confusion and uncertainty in ambiguous communication.
Sometimes, leaders fall into the clairvoyance trap. In other words, they begin to believe that truly committed followers automatically sense their goals and know what they want without being told. Misunderstanding is seen by such managers as a lack of effort (or commitment) on the listener’s part, rather than their own communication negligence.
“Say what you mean, and mean what you say” is timeless advice, but it must be preceded by knowing what you mean! An underlying clarity of purpose is the starting point for all effective communication. It’s only when you’re absolutely clear about what you want to convey that the hard work of communicating pays dividends.
Risk Aversion
Leaders at risk often begin to be driven by a fear of failure rather than the desire to succeed. Past successes create pressure for leaders: “Will I be able to sustain outstanding performance?” “What will I do for an encore?” In fact, the longer a leader is successful, the higher his or her perceived cost of failure.
When driven by the fear of failure, leaders are unable to take reasonable risks. They want to do only the tried and proven; attempts at innovation — typically a key to their initial success — diminish and eventually disappear.
Which is more important to you: the attempt or the outcome? Are you still taking reasonable risks? Prudent leadership never takes reckless chances that risk the destruction of what has been achieved, but neither is it paralyzed by fear. Often the dance of leadership is two steps forward, one step back.
Ethics Slip
A leader’s credibility is the result of two aspects: what he or she does (competency) and who he or she is (character). A discrepancy between these two aspects creates an integrity problem.
The highest principle of leadership is integrity. When integrity ceases to be a leader’s top priority, when a compromise of ethics is rationalized away as necessary for the “greater good,” when achieving results becomes more important than the means to their achievement — that is the moment when a leader steps onto the slippery slop of failure.
Often such leaders see their followers as pawns, a mere means to an end, thus confusing manipulation with leadership. These leaders lose empathy. They cease to be people “perceivers” and become people “pleasers,” using popularity to ease the guilt of lapsed integrity.
It is imperative to your leadership that you constantly subject your life and work to the highest scrutiny. Are there areas of conflict between what you believe and how you behave? Has compromise crept into your operational tool kit? One way to find out is to ask the people you depend on if they ever feel used or taken for granted.
Poor Self Management
Tragically, if a leader doesn’t take care of him- or herself, no one else will. Unless a leader is blessed to be surrounded by more-sensitive-than-normal followers, nobody will pick up on the signs of fatigue and stress. Leaders are often perceived to be superhuman, running on unlimited energy.
While leadership is invigorating, it is also tiring. Leaders who fail to take care of their physical, psychological, emotional, and spiritual needs are headed for disaster. Think of having a gauge for each of these four areas of your life — and check them often! When a gauge reaches the “empty” point, make time for refreshment and replenishment. Clear your schedule and take care of yourself — it’s absolutely vital to your leadership that you continue to grow and develop, a task that can be accomplished only when your tanks are full.
Lost Love
The last warning sign of impending disaster that leaders need to heed is a move away from their first love and dream. Paradoxically, the hard work of leadership should be fulfilling and even fun. But when leaders lose sight of the dream that compelled them to accept the responsibility of leadership, they can find themselves working for causes that mean little to them. They must stick to what they love, what motivated them at the first, to maintain the fulfillment of leadership.
To make sure that you stay on the track of following your first love, frequently ask yourself these three questions: Why did I initially assume leadership? Have those reasons changed? Do I still want to lead?
Heed the Signs
The warning signs in life — from stop lights to prescription labels — are there for our good. They protect us from disaster, and we would be foolish to ignore them. As you consider the six warning signs of leadership failure, don’t be afraid to take an honest look at yourself. If any of the warnings ring true, take action today! The good news is: by paying attention to these signs and heeding their warnings, you can avoid disaster and sustain the kind of leadership that is healthy and fulfilling both for yourself and your followers.
At this prescise moment, I am enjoying a glass of red wine, thinking about my wife my kids and my family and updating my blog. Today I have also been thinking about the mistakes I have made. If you are a leader, good luck the pitfalls are numerous. And to my wife, that has managed to stay married to me for all these years. I love you; you are strong, smart and amazing. I am still looking to give you the paradise I promissed.
Sometimes leaders are sunk. Going down. Headed for disaster. Immediate thoughts when an event, a phone call, the beach the party and then all, goes completely wrong. We’ve all been there. The feeling of dread, mixed with embarrassment and worry. Even worse if people were counting on you and you are going to have to let them down. But who says that failure is the only option when problems arise?
“The conquering of adversity produces strength of character, forges self-confidence, engenders self-respect, and assures success in righteous endeavor.” – Richard G. Scott
Yes, it can be difficult to pull yourself up and try to figure out a solution when everything looks bleak, but there are some steps that you can take to lead to towards *hopefully* a new solution.
Look at it from a different angle. I am sure many of you glanced at this picture and saw a sinking ship. Reality? The boat isn’t actually sinking, it is the angle of the shot. Captured at just the right moment, it just looks like the back end is under. It’s not really a disaster, it just looks like one. Next time you feel like something is crashing down around you, see what other angles you can look from – you may be surprised what you find.
If all else fails, be honest. If at the end of the day, nothing can save the event, the date, the whatever…just be honest. Don’t sit an complain about how everything fell apart, but do tell people what happened. People appreciate honesty, and understand that we are all human.
Don't panic. Assess, review, regroup, be grateful. In any situation there are worse scenarios...as a rule. Count your blessings. Keep the faith...faith suggest rhyme and reason...which in turn suggests that all things can have a positive aspect. Try to see the silver lining. Also try to understand what you could have done better, find the cause...this is not about blame it is about cause. Fix the cause and you fix the affect.
Learn how to: Instead of making a mountain out of a molehill, learn how to make molehills out of mountains. It is not the end of the world. It's not a killer tsunami. Forget the small stuff: its all small stuff. Breathe. Regroup. Get council. Attack anew. And remember this set back or "failure" will help you and others in the future. Ten years later you may be giving council to someone who has failed...you will know what to say because you too have gone through the fire. Fire purifies...it is all good. but at the same time, you can never downgrade. it’s all up from there and the most important we are still alive.
On my quest to make a Million Euros in less than five years summer is here so hot and bright I realise that we are but an Ilussion, once John Lennon entitled a song "Imagine." Thoreau once said: "Go confidently in the direction of your dreams! Live the life you've imagined." Neville once said: "Imagination is the very gateway of reality."
Are you waking up to a new way of being? Can you feel something rumbling deep within you, calling out to live more creatively, successfully, joyfully? When you see a radiant beautifull face can you feel the need to kiss it?
The fragmented ways of your old thinking cannot bridge the divide between mind and matter, body and soul, challenges and dreams.
What if you build your finances, your business, your health, your relationships and your life around imagination and use your mental images, thoughts and feelings to attract the fulfillment of your dreams?
By intentionally shifting into new states of consciousness you can change your blueprints of reality and affect your world.
Imagination is power and you have it! Imagining creates reality, Use your Ilussion...
Life is a white paper. So why are so many starving to death with unfulfilled desires? Laziness, complacency, no time, fear of the unknown - you name it and the excuses line up.It's up to you to change your subconscious mind with beneficial images of success. Doing this allows you to shift from undesirable patterns of being disempowered into habits that empower you.
Everything begins with a dream, a purpose or a goal. Being able to focus and concentrate in the midst of chaos gives you the Winner's advantage.
You are a "focuser of energy." Focus plus uplifted emotional moods are the keys to your success. Whatever you do, never lose focus!
Everybody wants a better life, but if you do the same old things in the same old way you will get the same old results.
If a farmer plants corn seeds, he gets corn; he doesn't get tomatoes. If you focus on failure, poverty, or violent ideas how will you harvest success, wealth, or peace. If you want to change the results you are getting, you must change your images, because thought is creative.
How to begin? First you must have a desire that is far greater than what you are currently experiencing that´s the simple reason why I set my goal to one Million Euros not sixty thousand or one hundred but a Million.
The world is a series of pictures, frames in a piece of film, or states of consciousness. What you are conscious of is real to you because you think and feel it is real.
Your world is your very own personal mirror, forever mirroring your thoughts. It is your dream or your nightmare.
What would you dare to dream if you knew you could not fail? What would be different in your life and how would you feel if you realized your dream?
The key to Intentional Creation is to know that everything is first created in your own imagination from an idea. It is then projected out into the world as experience. If your experiences aren't fulfilling, or what you had hoped for, then perhaps it is time to shift into a new state of awareness! and have always new challenges!
Just Imagine Images or mental pictures are your prayers. Your inner blueprints (images) determine your behavior and the results you attract in life. They set the boundaries for what you can and cannot accept. Living your life without a proper success image is like building a house without a blueprint.
- Do you know how to design a success blueprint? - Is your dream worthy of your talents and time? - Would having it enable you to help those you love? - What will becoming a conscious imagist do for you?
Here are some Keys to Fulfilling Your Dream and Achieving Your Goal:
Design a mind-compelling blueprint for success that has deep meaning for you to complete.
Propel yourself into action. Never despair over the time it takes for your dream to become a living reality.
Focus! Concentrate on your goal, not the challenge and you will burn a hole in anything that stands in the way of your success.
Expand your thoughts as you modify your habits and behavior.
Be patient. Recycle feelings of anger and fear into joy and gratitude.
Be receptive and responsive to inner guidance and outer assistance.
Success in any endeavor is measured by your belief in your deeper self.
Walk in the awareness of answered prayer.
What kind of mental image do you hold of yourself? Everything you attract is an expression of your beliefs. Every person, your job, income, kinds of friends all correspond to your inner blueprints.
Nothing is impossible to Imagination not poverty, stress, and not even adversity. Riches are within your reach.
Anything you dream of - a healthy body, gainful employment, loyal friends, or a greater understanding of the Source of Supply can be summoned, once you consistently practice it. Imagine what you will attract once you know how to consciously use the Power of Imagination on your own behalf.
