Every single day gives us a new morning. We’ve awakened to a day that is free from mistakes. It’s full of hours and hours of opportunity. Do we fill those hours with doing the same old thing that got us into the state that we’re in
Or do we throw aside some of those old routines and choices and try to work for something a little better in our lives?
Today is a day where you can complete a project that’s been on your mind for a while.
Today is a day when you can learn something new. Today is a day when you can invest the time to build a stronger relationship with someone.
Today is a day when you can set up things to save you time and money later on.
Today is a day to master one real estate strategy and take action...Read More
As you know I enjoy studying the habits of financially successful people. This allows me to learn from their mistakes and introduce changes into my own life. I read an article about Carlos Slim Helu, one of the richest men in the world with an estimated net worth of $US67 billion. He lives in a modest house he has owned for 30 years and his bedroom is the size of a hotel room. We also know that Warren Buffett has lived in the same 5 bedroom house for 55 years.
These billionaires know one simple fact and live by it: every dollar you don’t spend on something foolish is a dollar you can instead spend on something worthwhile.
What’s something foolish? A food item at the store you don’t really need. A bigger house than you need, which drains property taxes and maintenance and utilities from your pocket. An entertainment item you don’t have time for. The list goes on and on...Read More
It has been a very difficult and stressful week. I was sick for 3 and was unable to put any logical thought into my writing. There have been many, many times over the past several years when I have felt completely overwhelmed by my work as a human resources professional, managing the Thornhill Wealth Forum, writing my book, investing in family and reaching true financial independence.
My big dream is to reach true financial independence.
By that, I mean that I have enough money socked away in relatively stable investments so that the income from those investments provides me with enough for my family to live on regardless of whether I’m actually earning income.
Why is that my goal? It’s not so that I can sit idle. It’s so that I have the freedom to take giant personal risks, like spending several months doing nothing but perfecting a novel or spending a bunch of time laying the groundwork
for a charity or making a real difference to the lives of a few people without having to worry about failure...Read More
Trying to be continuously motivated is tough. When you don't feel motivated it simply means that the thought of what you are intending to do is not compelling enough for you to move. From my experience this is because of one reason:
The thought of what you plan to do appears too vast in your mind, which creates the feeling which is the opposite to motivation – overwhelm.
What you are planning to do is not associated enough to a compelling outcome. This occurs frequently if the outcome you are working towards is too far into the future. For example, if you set a financial freedom goal of owning 10 real estate investments, do not plan to achieve your goal in 12 months. This is unrealistic, unless you win the lottery...Read More
I love my wife dearly and respect and value her opinions. But, I really, really don’t like arguing with my wife. Sometimes, though, we disagree about money, investments and financial planning. We see things differently and bring different experiences and thought processes to the table. She is an accountant and works with numbers every day. I work with people and love to manage money. We might be married, but we are two different people...Read More
Financial Freedom is inter- twined with passive income. It is difficult to be financially free without having some form of passive income.
So, what is passive income?
Here is my definition:
“Passive income is any income derived from an initial investment of time, money, effort, or ideas without additional input of time, money, effort, or ideas”
So, for example, the cash flow from a real estate investment is a source of passive income. A published book is a source of passive income. A retirement fund can be a source of passive income. Network marketing that involves ethical distribution of funds to all participants (not only to people at the top)can also be a source of
passive income...Read More
This blog entry has been contributed by Courtney Carroll from Financial Fitness
During the past several weeks I have shared with you my thoughts regarding 4 key strategies for setting you on a path to Financial Fitness. Today I would like to share with you the 5th strategy for living a more purposeful life. The 5th strategy to be explored and incorporated in your plan is Charity.
Charity begins at home, we have often heard that. This strategy is often overlooked by those who are living pay check to pay check because they fear that giving will leave them with very little for themselves. Unfortunately they do not understand the universal law that there is more than enough to go around and that those who give shall receive. Even in the good book (the bible) it is written that it is better to give than receive and that when you give your rewards will be multiplied ten fold.
Imagine the following scenario, a man has within his grasp $20.00 and he could share a portion of this $20.00 with others who are also in need but instead he clutches to that $20.00. The unfortunate reality is that unless he is willing to open his hands and share what he has no more will come to that closed fist. And so it is with charity, in order to receive you must open your hands and give willing to others. By doing so, you set the stage for more to be returned to your hands.
The wealthy in society have been doing this for years. In fact many of them give 10% if not more to worthy charities all over the world. They understand the universal law and give willingly, knowing that by giving they will be blessed and rewarded accordingly.
Now giving doesn’t always mean giving your money. Money is only one aspect of what is meant by charity. For many of us our most precious resource is our time, so giving back to your community by volunteering in a senior’s home, working with children in a group home or giving back to your school community are all aspects of giving and it is your time.
What is your time worth? Maybe you have a dollar value of $50.00 an hour for your time. Well if you multiply that dollar value by the number of hours you volunteer per week that is the monetary equivalent of what you are contributing. So giving does not have to be physical dollars, it can be time. One of the blessings that come from giving is that you never know whose life will benefit from your charity. You get the opportunity to touch countless lives through your selfless acts of kindness. In order for you to be truly blessed and live a Financially Fit life you must become a willing giver to those in need.
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The objective of the Thornhill Wealth Forum is to assemble like-minded people interested in wealth creation, to share, learn and prosper through knowledge sharing and networking. Our philosophy is to be supportive of the wealth of others. Share information on self-promotion or help a struggling entrepreneur…even share it with your competition