Wealth & Millions (The Wealth Cure)

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 ORA The 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.

Cash is king if you know how to use it!

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 in less 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.

Keep writing me, keep thinking, and keep winning!