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  Why You Must Have Passive Income Just like Robert Kiyosaki, the author of the bestseller Rich Dad, Poor Dad, I am also fond of playing monopoly during my younger days. It is truly an amazing game. it teaches you how the real world works and yes, how to become rich. If you remember, monopoly is a board game on property investment. The idea is to accumulate properties and bankrupt your opponents. The last guy remaining is the winner. In real life, you need to invest in assets that can provide you with a source of passive income. Accumulate enough assets and soon you may not even need your salary. Just like monopoly. The income from your assets is enough to pay off all your expenses. And once that point is reached, you have reached financial independence. Of course, you can still work if you want to. But now, you have a choice. Wouldn’t it be simply out of this world to have that choice? In summary, passive income enables you to go higher at a faster rate. It doesn’t wear out, ...

  Creating Desire Everyone knows that unless you’re motivated to do something, chances are you aren’t going to do it. People rarely do things for no reason, which is why motivation is so important. To motivate means to provide a reason or motive for doing something, but that can span a broad spectrum. I am sure you have heard people say or ask, “What can you do to get me motivated?”Seldom do we hear them say, “How can I motivate myself?” And here lies the difference between ordinary people and extraordinary people. We can refer to the two extremes of motivation as fear and desire. The closer you get to either extreme, the more intense the motivation becomes. Let’s look at an example that illustrates this phenomenon. Suppose a group of children is playing ball in the middle of a seldom-used highway. Over the course of several minutes, one mother comes out and tells her child to stop playing in the road and come in for dinner, another scolds hers for playing in the road and says it’s...

  Think Like An Investor, Not like A Consumer When we work with new investors, one of our big challenges is to get them to think like investors, not consumers. If they have not yet built any investment capital, it’s usually because they’ve spent virtually all their income on consumer items and very little on investment items. In the old days, we would call that being broke. Nowadays, with the overabundance of consumer credit, being broke is just a marker on a long slippery slope. You can zoom by broke these days and still have plenty of money to spend. Let’s take a look at an ordinary family. They’ve been married for 20 years and make around $50,000 a year. They’ve got 2 kids, a barking dog, and a nice house. They’re filling out a financial statement at a bank, perhaps because they need to borrow money for a college loan for their youngest son. They start out listing their assets, which might include a home, a car, a life insurance policy, furniture, and electronic items such ...

  Effective Time Management The one thing we all have in common is time. Young, old, rich or poor, everyone has 24 hours a day and seven days a week. What you do with your time determines how quickly, if ever, you reach financial independence. It’s critical for four important reasons: Time management enables you to get more done in less time. Doing so allow you to free up those four hours a week you need to devote to doing other important things that can impact your life, like wealth building. People who don’t understand time management will approach their week with dread. They’ll spend the entire week scurrying around doing busy work and complaining about how they don’t have the time for anything else. A good time manager can get more done in an hour than many people can all day. Your willingness to work long hours may be noble, but we don’t want you to spend all of your time working. If you‘re like most people, after eight hours on your job, you’re tired and just want to get home...

S m art Decision Making An important part of the journey to be a Millionaire is acquiring the ability to make smart decisions. We are where we are today because of the choices we’ve made in the past. Think about your upbringing and look at how the decisions you made affected everything that was to follow. For example, the decision to enter university, the decision to drop out of school, the decision to take up a particular job in a certain company, the decision to leave home, the decision to get married and ….. All these substantially affected the person you are today.  Not only have the decision you’ve made brought you to where you are today, but your future will be comprised of the decisions you make from this point forward. Decisions are the building blocks of your past and your future. Most of us don’t know how to make decisions. If we feel good that day and the money is flowing, we tend to do it. If we don’t feel good or money is tight, we don’t do it. That’s no way to bu...

  Change The Way You Think It’s fascinating that we human beings tend to forget the difficulties of accomplishment once we’ve reached our objective. Once we’ve done something, we tend to look at others and think, “Why are you having so much trouble? It’s not that hard.” We do that regardless of the difficulty we may have had when we first tried it. Most rich people felt that way about making money. The great Andrew Carnegie felt that you have to make people work for their own success. He said, “There is no use whatever trying to help people who do not help themselves. You cannot push anyone up a ladder unless he is willing to climb himself.” In his day, Carnegie had an opportunity to rub shoulders with hundreds of self-made millionaires. As he got to know them, he realized that there was a common denominator among all of them. What they all shared was that even in the earliest days of their careers, these millionaires knew what they wanted and what it would feel like to be suc...

  The Early Years, Build Our Character… Everyone’s life is a series of experiences: some good, some bad, and some that come and go with little thought one way or another. The interesting point about these experiences is the number of them that contain important life lessons but that we let pass unnoticed. There may be a number of events from our own lives that implanted strong life lessons in our subconscious minds, even though we failed to recognize them at the time. It was not until later that we were able to look back, analyze the events, and understand the impact they had on our future. All these past events may not be positive, in fact, some of them may have produced strong negative reactions. It’s the events that left lasting impressions, both good and bad.  Developing a wealthy man's mindset is a journey, not a destination. It is a personal journey because everyone’s experiences are different. Opportunities abound, but if you weren’t ready and aren’t prepared, you will ...