2011 Step by step Financial Lessons that can mold you instantly.

on: Dec 27, 2009, 06:38 PM

-------------------------------------------------------------------------------Found this in my Archive email, This is one of my favorite book. I highly recomm end that we read the book and apply it in our lives. ? Take time to read it and if take time to memorize it and apply it this New Year. ?To Success! I recommend that you read it from number 10 to number 1. ?Bottom's Up The Top 10 Distinctions between Millionaires and the Middle Class by Keith Camer on Smith The Top 10 Distinctions between Millionaires and the Middle Class by Keith Camer on Smith is a easy to read and digest book on basic financial concepts. The auth or differentiates Millionaires (M) and the Middle Class (MC) using the 10 distin ctions stated in his book. By understanding the differences between the M and th e MC, we can stage and position ourselves for greater wealth building and creati on. Most important of all, my belief sync with the author's: Success is a journe y. What i find more interesting is the author's reasons of publishing this book. He mentioned 3 reasons for writing this book: Responsibility, Purpose, Legacy, whi ch differentiates him from other authors of similar books - This guy is damned s traight forward. The language he'd used is simple, direct, to the point. Most im portantly, easy to understand by layman. After 2 years of acquiring assets in financial lised that I am already a practitioner of some book. I am sure that I am able to acquire the w more years. I am glad that I am able to move education since Dec 2005, I'd rea of the distinctions stated in the remaining distinctions using a fe from the MC to the M very soon.

I attempted to sum up what to expect from this book as follows: Distinction 1: Millionaires ask themselves empowering questions. Middle class as k themselves disempowering questions. "Ask and you will receive." & "As a man thinks, so is he." - So better ask empow ering questions. Learn to ask ourselves questions that stretch beyond your curre nt levels of experience. The questions you ask yourself determine the results yo u get in your life. Think about questions that expand your mind. Empowering ques tions ask us what we can do, make us feel good, become a powerful and peaceful p erson. Questions controls mind, condition it to create success. 9 questions base d on "Be, Do, Have" concept offers clarity; Know What you want, Why you want, an d the How will naturally follow. Most important question to ask, "What would mak e my life meaningful?" Distinction 2: Millionaires focus on increasing their networth. The middle class focuses on increasing its paychecks. Own assets (have value and earn passive income for us) using our paychecks. It r equires new knowledge so study hard to learn how to acquire income-producing ass ets. Patience, knowledge and wisdom are required to increase our net worth. Wisd

om is applied knowledge. Achieve Freedom - the freedom to work because we want t o instead of because we have to. Learn to keep our cost of living the same even as we build our wealth. Uncommon wisdom of M: Do not increase spending when inco me increases, instead increase investing. Distinction 3: Millionaires have multiple sources of income. The middle class ha s only one or two. The more sources of income we can develop, the more likely we will become a M. T he trick to developing mulitple sources of income is to focus on making them pas sive (with minimum management). Build a TEAM and learn to be humble. Employ Inte ntional Congruence concept - methodical planning, getting each source of passive income to support the other income. Focus on PASSIVE sources of income, build a TEAM, and practice INTENTIONAL CONGRUENCE. Distinction 4: Millionaires believe they must be generous. The middle class beli eves it can't afford to give. Learn to be generous, it feels great when we give from the heart. Being generous is a sure way to be happy. (that's why Keith write books, teach seminars on suc cess - give people the knowledge they can use to make a long-term improvement) U nderstand the Law of Sowing and Reaping (Law of Causes and Effects in Buddism) Distinction 5: Millionaires work for profits. The middle class works for wages. Wages are the pay we receive for the work we do. Profits are the result of buyin g something for one price and selling it for a higher price. Learn to earn profi ts, then sky is the limit. Distinction 6: Millionaires continually learn and grow. The middle class thinks learning ended with school. Success is a process, a journey. The more money you spend on financial knowledge , the more money you will make. By reading more (even if it is just a concept in each book), we compressed time and learn financial secrets that took others yea rs to discover. M invest in their knowledge with people who have achieved succes s that they want for themselves. Wisdom is Applied Knowledge. Focus on personal growth, love life. True success involves peace and contentment. Distinction 7: Millionaires take claculated risks. The middle class is afraid to take risks. The only way out of the rat race for the MC is to take calculated risks. Calcula ted Risks means to gain knowledge first, consider the consequences of failing be fore taking action. 3 fears of the MC: Fear of Failure, Rejection, Loss. Fear ca n be overcomed with knowledege. Failure is part of the path to success - Embrace it and become wiser. We must want to succeed more than we want the acceptance o f other people. Losing is part of winning. Live like you were dying - take more risks, take more time to reflect, do more things that would live on after we are gone. Take action! Click on the banner below to download the book now!

Practice risk management with 3 questions: 1. What's the best thing that could happen? 2. What's the worst thing that could happen? 3. What's the most likely thing to happen?

Distinction 8: Millionaires embrace change. The middle class is threatened by ch ange. "For the timid in our society, change is frightening. For the comfortable, chang e is threatening. For the truly confident among us, change is opportunity." - Ni do Qubein, Mentor of Keith. Confidence is acquired thru preparation, hard work, result of working on ourselv es, believing we can do whatever we choose to. We can choose or wish to be rich but remember that Choice is backed by a belief that we can do it, Wish is backed by a doubt that we can. Fear blinds us to opportunities - so develop confidence , learn to accept change and fear will become False Evidence Appearing Real. Peo ple are born to learn and grow. Change is good! Distinction 9: Millionaires talk about ideas. The middle class talks about thing s and other people. "Big people talk about ideas, average people talk about things, and small people talk about other people." What do you spend your time talking about? Ideas, thi ngs or people? M do talk about people and things. M compliments people for what they did right. M shares notes and books with each other. The power of our words create the experiences of our life; so change our vocabulary, stop complaining and start learning. Learn to develop gratitude. The lessons of life come to teac h us to look at life from new perspectives. This leads to new ideas. Distinction 10: Millionaires think long-term. The middle class thinks short-term . Give up scarcity mentality (money is in abundance!). Make long-term thinking a h abit to release its power. Thinking long-term requires patience and patience is an asset. Thinking long-term builds relationship. Thinking long-term builds heal th. Thinking long-term develops perserverance. The secret of M: Do what you love to do to make money. Keith concludes with the concept of repetition to train our mind to think differ ently. Remember, Success is a Journey. To read more about Keith's free sharing, goto http://keithcameronsmith.com/. You can also download his book at eBooks.com - Download a book today. Get 20% of f at eBooks.com! Another realisation I'd after reading this book is, "Diversification spreads ris ks. Knowledge reduces risks". If I want to increase my wealth, I must choose to, commit to, plan to and act to achieve wisdom, not just diverse.

Posted on: Dec 27, 2009, 06:28 PM -------------------------------------------------------------------------------*************** Now, this 10 Habits of Millionaires, which one best suits you? ?How do you apply it knowingly or unknowingly to your life whether your an employee or an entrepr

eneur? Let's share knowledge here in the Philippine Setting. ?I want to learn fr om your experience, it can save a lot of time. Let's start it right this 2010!

Donald John Trump (born June 14, 1946) is an American Business tycoon, author a nd television personality. He is the Chairman & CEO of the Trump Organization, a US-based real-estate developer. In its October 7, 2007 Forbes 400 issue, Acreage Aces, Forbes valued Trump s wealth to $3.0 billion. Here are some answers provided by Mr. Trump from which we can learn (extracted from his book: Never Give up!) 1. What is the most important characteristic of a good leader? Discipline. It helps if everyone has it, but if a leader doesn t, he or she won t b e one for very long. 2. What are the most important steps for someone who intends to be successful? Do your homework. In other words, learn everything you can about what you want, know what you are up against, and research every aspect of your endeavor. Talk t o all the experts you can find. It can t be a hit or miss approach. The odds are a lready against you, so don t make it harder on yourself by being negligent. 3. What will distinguish the leaders of tomorrow in the real estate industry? Those who have both vision and discipline will succeed. One is useless without t he other. With both, you have a chance of becoming a leader, provided you ve learn ed and sharpened your instincts through your experiences. 4. What do you like about your job? Everything. Every day is a challenge, and every day is great. 5. What advice do you have for someone who wants to start his own business? Be ready for problems you ll have them every day. Keep your focus no matter what and be as big as your daily challenges. Never give up! 6. What if things don t work out the way First of all, know that you ve got a lot e things happen. Some people have waited e you might be doing the wrong thing, so st not going to happen. Make sure you re love doing it. Then be tenacious. we want, even if we work really hard? of company. I ve waited 30 years to see som longer. Always consider that it s possibl that no matter how hard you work, it s ju doing what is right for you. You have to

7. Where do you get your ideas? The world inspires me, and keeping up with world events can give you a lot of id eas. In this age of technology, we have access to more and more information at a faster pace than ever before, and I find that exciting. I keep an open mind and that s a good way for ideas to start happening.

8. Do you ever fear that you might fail at something? I have a pretty good track record of successes by now, but failure is always a p ossibility. I am cautious but not fearful. There s a difference. It s important to b e circumspect know that the possibility of success is there as well as failure. R isk plays a part in everything we do. I could get hit by a bus while I am crossi ng the street. Things happen. Don t let fear interfere with your plans. 9. What s the best thing about being rich? Being able to give back is a great feeling. 10. What s the best piece of advice you can give me? Never give up. You can accomplish more things with that attitude than anything e lse I can tell you. Never give up by Donald Trump is really an interesting read. Do go through it if you find some time. Your thoughts on the above? See you at Top po mga ka-PMT!