Week 16.pdf

WEEK SIXTEEN

Welcome to Week Sixteen of the Jim Rohn One-Year Success Plan. We hope you are

having a great week and are ready for this week's journey.

One of my favorite phrases is the "slight edge". Not sure who originally coined it, but I

first heard the legend Paul Meyer use it. My interpretation of the "slight edge" (and how

we apply it here at JRI and in my own personal life) is that it is the small but ever-steady

growth over a long period of time that leads to big, long-term results. It really is the core

of the Jim Rohn philosophy - doing the easy, very doable basics on a consistent basis that

leads to great success over a period of time. And conversely, neglecting to do those very

same easy, doable basics can also lead to failure.

When looking at this month's Pillar - Finance (and also last month's Pillar of Health), Jim,

Chris and I all agree, that the "slight edge" philosophy is the core strategy to either work

your way out of a deficit or to create greater results.

Typically in our life, we'll find ourselves asking what's wrong and by how much, which is

the first important question to consider. But the next important question is what one or

two small, easy "slight edge" things can I start doing today, right now, that takes me in

the right direction. One good small decision is what can lead to one more, then one more,

and soon the momentum of making bigger decisions and changes begins to emerge.

This month as you tackle getting out of debt and paying yourself first (saving a portion of

your income), look at what additional "slight edge" activities you can do that will have

you equally on pace with your investing plan.

You are doing Great!!

Kyle

“Plan your progress carefully; hour-by hour, day-by-day, month-by-month. Organized

activity and maintained enthusiasm are the wellsprings of your power.

-– Paul J. Meyer

296

C opyright Jim Rohn International 2002-2004

297

MONEY AND FINANCE

Jim Rohn's Fourth Pillar of Success: Money and Finance,

Part Three – Investing

The four pivotal topics in regard to finances are:

1. Getting Out of Debt - Debt is a killer. It is a killer of dreams and hopes. It is a killer

of businesses. It is a killer of financial futures. And, according to statistics, debt plays a

prominent role in many failed marriages. So what should we conclude from this? If we

are to be successful, we must have a commitment to stay out of debt! You can make two

million dollars a year but if you spend 2.5 million dollars, it doesn't matter how much

money you made, does it? You will be saddled with debt. We addressed this issue two

weeks ago.

2. Saving - One of the key components to long-term wealth building is the discipline of

saving money on a regular basis. Last week, we went through the basics and showed how

a commitment to saving money can revolutionize your financial life and provide the kind

of security you desire. One simple difference between the philosophy of the rich and the

poor is: the rich save/invest their money and spend what is left; the poor spend their

money and save/invest what is left. What a simple shift in our thinking for such a

revolutionary result.

3. Investing - Investing is much different than saving. Investing involves risk - calculated

risk - and the possibility for much more reward. Saving and investing are done for

different reasons and with different desired goals and outcomes. By taking a portion of

our income and turning it into capital to be invested, we will be actively working toward

our goal of financial independence. We cover the importance of investing, along with

some basics of investing in today's edition.

4. Giving - Giving a portion of your resources away is one of the most powerful

principles you will ever embrace. It seems counter-intuitive, but the truth is that giving

will help you achieve the financial freedom you desire. Amazingly, giving makes you

bigger than you are. The more you pour out, the more life will be able to pour back in. So

giving a percentage of your resources away will help you not only have more money but

enjoy it more as well, and that is the best benefit. We will cover giving next week.

This week we focus on the topic of investing.

When you look at the wealthiest people in the world, you are almost always looking at

people who are investors. They know that the way to long-term accumulation is through

investments in a variety of means to develop financial abundance.

I do not believe that people with wealth are any better than anyone else, they simply have

applied themselves methodically to the disciplines of wealth building, some of which we

are going to look at in today's edition.

298

The key is to begin to see yourself as an investor--an investor in yourself, in others, in

businesses, in assets and in financial vehicles that will maximize your return and begin to

help you accrue the kind of wealth you desire.

Let's take a look at some of the specific things you need to invest in if you are going to

build a lifetime of wealth and abundance that will provide you and your loved ones with

the lifestyle you are looking for. Because we all know a variety of ways to make a living

- now let's figure out how to make a fortune!

Here are a few things you should invest in:

Invest in Yourself. You are already doing this by participating in this One-Year Program.

Those who develop real wealth always invest in themselves. They are readers. They

study. They have an interest in people and wealth. They are constantly working on

bettering themselves and stretching themselves to become people of knowledge and

influence. If you want to be a person who achieves financial independence, then you

would do well to continue this journey of investing in yourself. Make yourself better by

learning all that you can about business and wealth. Learn about people and what drives

them. Learn about yourself so you can maximize your strengths and improve your

weaknesses. Always strive to make yourself better each year than you were the previous

year.

Invest in Others. My friend Zig Ziglar says that a person can get anything they want in

life if they will help enough other people get everything they want out of life. People who

develop long-term wealth are those who provide something for others - they help others

and invest in them - and they reap multiple rewards that come from their investment!

Invest in Your Company. When you look at the richest people, minus athletes and

entertainers, you will see a huge percentage work for themselves. They own their own

businesses. They work for wealth, not for wages. As you've heard me say before, profits

are better than wages because wages make you a living while profits will make you a

fortune. If you have a company, work on building it and increasing revenue. If you do not

have your own business and you feel you are ready, please consider starting one. Besides

the obvious advantage for building wealth, there is also the added benefit of knowing you

are charting your own course and determining your own destiny.

Invest in Hard Assets. One of the best ways to

develop long-term wealth is to convert your

money into assets that increase in value and work

for you. Examples of this would be real estate,

especially income producing real estate, such as

rental homes, apartments, or office complexes.

Certain collectables may also fall into this

category. When we convert our money into hard

assets, we are helping to cultivate long-term

wealth for ourselves by diversifying into many

different areas that can work on our behalf.

299

Invest in Ideas. One of the amazing things we continually see is how ideas can become

wealth. In fact, every company, every product and every service that has ever existed,

first existed in a person's mind in the form of an idea. But let me say that you must search

for good ideas because rarely do they interrupt you. So read, search, go the classes and

invest the time to seek out good ideas. Because if you do, then you will find them;

ancient script assures us that if we seek, we will find. Now when good ideas are

combined with intelligent action, those ideas take form and can produce wealth. Invest in

your ideas. Cultivate them, dream about them, sharpen them and apply them. Then those

ideas can become wealth for you to enjoy for a very long time.

Invest in Public Companies. Typically this would be the stock market. Even with the big

dips we see from time to time, the stock market averages about twelve percent a year

return for those who stay in for the long haul. The best strategies typically are those that

involve methodical investment in both good times and bad. Think about the power of

investing in a public company. Let's say you invest $1,000 in Microsoft stock. What is

amazing about that is now you have Bill Gates and his people going to work every day on

your behalf! This is the power of investing in a public company: you become an owner,

and the employees work on your behalf and you share in the returns. Again, when you

look at those who achieve great wealth, there is almost always a component of

investment in public companies.

Now that we have looked at what to invest in, let's look at the Basics of Investing:

1. Let your money work for you, not the other way around. People who achieve long-

term wealth and financial independence are those who have found the secrets of having

money work for them, increasing on its own. Don't work for wages, work for wealth.

2. Get a team of help. Even a beginning investor can have a team of people working for

them, advising and teaching them. Obviously they start with a team of advisors through

the books and financial resources they read. Even a minimal investment at the bookstore

will provide you with a broad range of information that will give you a great head start on

investing. Next, a stockbroker, a financial advisor and an accountant are good to have.

Most of them will work on your behalf even if you only have a small amount to invest. It

isn't wise to go it alone. Get the help you need to make good decisions.

3. Do it regularly. The key to accumulating wealth is the same as almost all disciplines--

do it regularly. If you wanted to lose weight you would exercise on a regular basis. If you

want to build wealth, you invest on a regular basis. Every week, the first of the month,

four times a year; it doesn't matter except for the fact that you must make it consistent.

Whether the amount is big or small, just keep doing it, and you will find that your

investments compounded over time will yield a great harvest.

4. Harness the power of compound interest. I wrote last week a little about compound

interest and the power it provides. Rumor has it that Albert Einstein called compound

interest the most powerful force in the world. Whether he said it or not, it is close to

being true. There is tremendous power in building wealth through compound interest.

Last week I also wrote about the rule of 72, meaning whatever investment return you

receive on average, divided into 72 will be how many years it takes to double your

money. So, for example, let's say long-term you receive a 12% yearly average return on

300

Plik z chomika:

Inne pliki z tego folderu:

Inne foldery tego chomika: