Hello Partners:
As a Financial Advisor and a Business Consultant, I've dealt with people over the years who are always seeking a better life for themselves and their loved ones, financially.
Most of them have been clients within my own specialty of Health Professionals - people with high net worth positions - but many of them are suffering in our current 'economic meltdown' too.
I'd like to share some thoughts on this with you. First, the backdrop to this...
NORTH AMERICAN 'DREAM'? - In a Survey done early last year ('08) - 65% of North Americans said they felt were "on track" for a comfortable retirement.
And that was not surprising - after all, this IS North America - the land where "dreams come true" - where things always work out for the best.
They felt they were OK - and that included a happy retirement - BUT then - the grim (global) economy entered the picture - - -
Financial ILLNESS
It is no secret that today's population is facing a major Financial Crisis -- massive JOB LOSSES -- massive HOME FORECLOSURES -- the CREDIT CRUNCH -- SOCIAL SECURITY Systems in jeapordy -- unparalleled Personal DEBT -- on and on.
It was bad enough before - where 90% of the population was projected to retire without dignity - "below" the poverty line.
But now, it's much worse. More than ever before -- WE must find ways to control our OWN financial futures.
Government cannot do it for us - even with their (so-called) rescue Stimulous Packages. NO - we as individuals must do it ourselves -- and we CAN.
Here's HOW - - -
Financial WELLNESS
Note: In addition to my professional background, I'm a 20-year Network Marketing veteran (Customer / Affiliate / Coach) - I feel I can speak to the 'integrity' of what follows.
A beautiful thing to know is -- WE do not have to be included in the ugly statistics mentioned above. No.
WE hold in our hands, a powerful SOLUTION to this awful problem -- a CURE for this disease known as Financial ILLNESS.
And what's more, WE can "give" this Gift Of HOPE to tens of thousands of 'other' people who are (or will be) suffering financially.
Because multitudes of people right now are "searching" for our solution -- "praying" for what we have our hands on.
What I'm going to share with you here is not meant to be any form of "hype" -- I personally detest "hype".
What I wish to do is lay out an "attainable" WEALTH FORMULA below -- one that gives us the "details" not only on how to SURVIVE -- but on how to PROSPER.
Become a Cash Flow MILLIONAIRE
a MILLIONAIRE?? YES - a millionaire -- but not in the "traditional" sense of being a millionaire (having a Net Worth of at least $1-million in the bank, or in free-assets / investments).
What I'll describe is quite different - but totally accurate. Stay with me...
Here's how WE can become authentic "millionaires" through our Home Businesses -- but first, let me ask...
-- QUESTION #1 - If we did have $1-million ((lump sum)) - sitting in investments - or in the bank - and we earned say, a 6% annual return on it (rate of interest, or dividends, etc) - how much yearly//monthly revenue would that give us?
We would have an annual $60,000/yearincome ($5,000./month) - just as though it were an annual salary - or an annual pension, etc.
But keep in mind, these kinds of income (salary or pension) - as nice as they might be - would also be '100% taxable' (in most cases). And remember, unless we receive that lump sum from a Lottery - or an Inheritance, etc - we must accumulate it - after taxes - so it would take a "lifetime" (or more) to do that - right?
-- QUESTION #2 - What if instead - we had that same $5,000./month - $60,000./year coming in - BUT - this time, it's from our OWN Home Biz?
$5,000./month - each and every month - and knowing that 'most' of that income was tax free (because of the 'many' business expenses that the IRS (CRA in Canada) allows us for a HOME Biz?
And this won't take a "lifetime" to begin -- it can actually start "immediately".
COMPARISON - Instead of needing a whole TON OF BREAD-DOUGH in the basement (the lump sum $1-million in the bank) - we get a FRESH SLICE OF TOAST - each month (the $5,000./month commission checks) - which is all we need => BINGO!
WE are now "on our way" to becomming a Cash Flow Millionaire - a situation that's 'much' better than being a "traditional" millionaire (as above).
ALERT! - This is only Step #1 - In order to fully QUALIFY as a Cash Flow Millionaire - the other Steps will be revealed below.
They must ALL be met in order to meet the requirements of the Cash Flow Millionaire Formula.
Ok - assuming we take the time and effort necessary to put together a 'solid' Home Business structure, by "positioning" ourselves properly, for both protection and prosperity (through Self Branding / Multiple Income Streams / effective Business, Financial & Marketing strategies / Leadership Development / Continuing Education programs, etc)...
HOW do we "GENERATE" that $5,000/mo - $60,000/yr? - Up front, I'm not saying this will be "easy" (it will take intelligent effort) -- but I am saying it can (and IS) being done - and by "any" of us - and it doesn't take an "army" of Customers and/or Biz Partners to accomplish this. NO.
In fact, many leaders in this industry are generating - $10,000/mo -- $20,000/mo -- $50,000/mo, and higher ((I have three personal friends who make 'more' than that last amount per month)).
No - $5,000/month ($60,000/yr) by itself (Step 1), is NOT a mammoth task for any of us - as long as we've "prepared" ourselves correctly (and that includes 'mentally')
Because in "our" industry, we have three ((3)) powerful FORCES at work that almost NO other industry / business / profession has going for it...
1)- RESIDUAL INCOME
2)- LEVERAGE (through Duplication)
3)- EXPONENTIAL / GEOMETRIC GROWTH
---------------------------------------------------------------------------
STEP #1
We create the $5,000/mo - $60,000/yr Millionaire CASH FLOW...
= $60,000/year -- from the "$1-million in the BANK" throws off INVESTMENT Income -- which is usually "fully" TAXABLE - but
= $60.000/year -- from our "Home Biz" is PROFIT, after EXPENSES -- which may well end up being - NON taxable. )
BUT - to truly enjoy the LIFESTYLE of a pure Cash Flow Millionaire -- two ((2)) more conditions "must" be met...
STEP #2
We "must" have ZERO Personal DEBT -- Zip! -- Nada! -- None! -- absolutely Gone! (or this Formula will NOT work)!
This is PERSONAL (tax deductable) debt - not INVESTMENT debt that I'm referring to. And a reasonable "home mortgage" might be an exception as well, since in the US (not Canada), mortgage interest is 'tax deductible'.
I'm not sure about our friends in Australia (regarding mortgage-interest-deduction), but perhaps someone here at BN can enlighten us on that?
The ultimate objective however, is NO debt whatsoever (even though Robert Kiyosaki might differ on that a bit).
-- Personal DEBT elimination - Impossible?? - NO, absolutely not - and frankly, we don't have a 'choice' in this any more.
-- Personal DEBT is "killing" our population - we've been on a "wild spending spree" - it's largely been the "culprit" in this economic storm
-- Personal DEBT is like a CANCER out of control - ir's "eating away" at out very souls - we need to KILL it as rapidly as we can!
There are wonderful financial strategies that can be exercised for this. It takes WORK + DISCIPLINE -- but it can (and "must") be done.
Often, an "aggressive" plan for debt-reduction will accomplish this in 1- 2-3 years. That is "not" a lifetime.
The result is like lifting a 500-pound Stress MONSTOR from our shoulders.
Perhaps we can discuss this aspect further on another posting
STEP #3
We "must" practice good MONEY MANAGEMENT principles (Tax / Investment / Financial & Estate Planning) along the way.
This too, could become the topic of another message - but in the interim, please check out these excellent sites, starting with...
Financial INTELLIGENCE
Robert Kiyosaki - As I write this, there are six (6) exceptional little Videos by famous author, teacher, investment guru, Robert Kiyosaki, on his main Website.
They 'total' only about 10-mins in all => WELL worth the tiny educational investment (these are "not" Affiliate links)...
-- 3 Types of Education (3.13 min)
-- Cash Flow Quadrant (2.03 min)
-- Savers are Losers (1.23 min)
-- Assets & Liabilities (2.06 min)
-- Good Debt -vs- Bad Debt (1.28 min)
-- Live Above your Means (2.01 min)
Click => http://www.RichDad.com
------------------------------------------------------------------------------------
TAXES - Owning a HOME Business can "free up" brand new revenues (often enough to Cash Flow not only our monthly Autoship costs - but our Overhead Expenses as well).
Sandy Botkin ( a US Attorney + CPA) calls a HOME Biz the #1 Tax Strategy in North America.
Here are some great TAX sites (these are "not" Affiliate links)...
Botkin
-- http://www.TaxReductionInstitute.com/
-- http://www.TaxTips4NetworkMarketers.com/
Mueller // Harrison
-- http://www.HomeBusinessTaxSavings.com/
Recap
Let's allow our imaginations flow for a minute here...
=> We "understand" the concept - the simplicity (and the achievability) of what's just been laid out (all 3 Steps)
=> We "know" we have within our own control in this industry, the VEHICLE that can deliver us to our destinations
=> We "know" we can become Cash Flow Millionaires - with a min. (tax free) $5,000/month (largely passive) INCOME - recurring, month after month (and we don't need to be there, to 'produce' it)
=> We "know" that we can get ourselves to where we NO personal DEBT - none
=> We "know" that, through good Money Management, we can have the kind of financial futures that others only 'dream' about
=> We "know" that we can offer this Dream to OTHERS as well, and perhaps turn 'their' lives around too
=> WOW!
Better yet, this IS possible, for ALL of us -- within 1-3-5 years. As already stressed, that is "not" a lifetime.
Most of us could live extremely WELL with the situation just described -- but there's NO CEILING on how far we can go BEYOND that.
Again, this is not a 'pipe-dream' -- it's not some 'pie in the sky' scheme => this IS completely attainable.
The PRICE for this?
-- a Big DREAM -- a Strong BELIEF -- Hard WORK -- Faith -- Action -- a Passion for your Product(s) -- Time -- Patience -- a willingness to be Coached -- getting on the Training Calls -- learning the Systems -- Consistency -- Discipline -- Persistence --Courage -- Perseverance...
The PRIZE Awaiting us?
Beyond the "peace of mind" + the "financianl and time freedom + "friendships" + the "fun" ===> it can be almost beyond belief.
This IS something we can all 'understand' -- something we can 'relate' to => something we can DO.
I wish you much success, prosperity and happiness ahead.
Sincerely / Peter A.
http://www.PeterArnoldOnline.com
Peter Arnold, CLU, CFC // Founder
Business Achievers Academy // Canada
