Today and last night I found great access to wealth building seminars through the university of Utah. That's where I got my college degree from if you didn’t know. Through their databases and many other colleges offer them too, I can access so much information. Databases that would cost me hundreds of thousands of dollars a year to subscribe to. Right now I’m learning about the road to wealth by Suzie Orman. She talks about more than the Idea, more than the building wealth through the power of the mind. Her approach is different than books like Think and Grow Rich. At least in this seminar she did.
Suzie talks about the economy and how we don’t want to recognize history. There are signs we don’t want to listen to because we get caught in a whirlwind and it’s easier to say, I once had money, I once had this portfolio, was making this kind of money, had that kind. People are sometimes as I got from her seminar, so caught up in taking care of everyone else, that they don’t take care of themselves.
What’s with IRA’s, stock market, investing in businesses, real estate. Are you saving the maximum that you can a year. Do you talk about money at the table. You like many could be setting your family up for financial disaster because they don’t know, or won’t know jack about money. Either the money they get or the money they have. Watch out for the road signs, stage in and out with your money. Suzie says that the most dangerous emotions with investing are fear and hope. Fear, you think it might get higher. Hope you think it might come back. So you do nothing. As martial arts master I knew once said. When in trouble, don’t freeze up. How often do we freeze up. Let our money sit because we don’t know what to do with it.
Here’s a little test she gives everyone. Here it is. You get $10,000 to start, and the first year you make 80% and the second year you lose 50%. Or option 2 you get 5% the first year and 5% gain the second year. Which option do you want. Well if you chose the second one then you were right. She says not to go down the road in a sports car to get to your goal, go down the road in a putt, putt, car because although it might get their slower, it doesn’t go backwards. Doesn’t it make you wonder, for yourself, if you don’t understand your money, than someone else will for you. In regards to that, if you were understanding someone elses money for them, wouldn’t you want to charge for it? This being said, someone else could be charging you for that control.
Wednesday, February 10, 2010
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