Archive for August 2011

Ways To Become Wealthy – Part 3

Welcome to the latest series on the wildly popular – “Ways To Become Wealthy.”  In this series, I will share the ways that I have seen people build wealth.

Part 3  Own A Business

Owning a business may not be for everyone, but this is one of the key ways that an individual can build wealth.  Think about this question for a minute – How much work can YOU physically do?  50 hours worth?  60?  80? 100?  At the end of the day, you only have two legs, two arms, and 24 hours to work.  Sure, you can increase your workload for a period of time, but eventually exhaustion will catch up with you.

A business system focuses the efforts of MORE people than just you!  The collective effort of many people yields far more than you can do on your own.  You can serve more people, reach further around the globe, and produce wealth!

I remember reading Proverbs 14:4 several years ago, and it captured me.

Where there are no oxen, the manger is empty, but from the strength of an ox comes an abundant harvest.” – Prov 14:4 (NIV:1984)

Think about it.  If you have no oxen, YOU have to do all of the work.  However, if you do have oxen, the oxen will do the work for you!  Think of a business as oxen.  The oxen will do more work for you that you simply do not have the capacity or ability to do!

ACTION QUESTIONS:  “What are your “oxen” that are producing wealth for you?  Do you even have oxen?  What can you do to get an ox?”

Read entire series (available on 9/2/2011)

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Ways To Become Wealthy – Part 2

Welcome to the latest series on the wildly popular – “Ways To Become Wealthy.”  In this series, I will share the ways that I have seen people build wealth.

Part 2  No decisions available; No choice involved; and Ridiculous Options

  • Be born into wealth  Of course, you can’t choose this option, but this is certainly one way to become wealthy.  If this is you, congratulations.  Commit to use that wealth to build more wealth and serve others in incredible ways.
  • Marry into wealth  You can choose this option, but a person is pretty shallow if this is the criteria for a spouse!
  • Win the lottery  Current odds of Powerball Lottery is 1 in 195,249,054.
  • Inherit money from a long-lost relative  Who knows?  You might be a descendent of a long-lost king!

ACTION QUESTION:  “Are your children being born into wealth?  What steps are you taking to leave an “inheritance for your children’s children?”

While this was a fun blog post to write, we’re getting serious in Part 3!

Read entire series (available on 9/2/2011)

Read recent posts by Joe

Ways To Become Wealthy – Part 1

Welcome to the latest series on the wildly popular – “Ways To Become Wealthy.”  In this series, I will share the ways that I have seen people build wealth.

Part 1  Introduction

Let’s face it, every person wants to win with their money.  When given the choice between poverty, able to pay the bills, and wealth, most people would choose wealth.  While we know that money does not buy happiness, we certainly know that money is necessary for providing basic needs for ourselves and those that depend upon us.

When it comes to money, I have two choices:

  1. Use it to invest in items that build and preserve wealth
  2. Use it to spend on items that do not build wealth

I’m choosing to invest in ways that build and preserve wealth.  My energy can be focused on learning more about how to use the resources I am blessed with or it can be consumed with attempting to distribute amongst all of the bills I owe because I never developed a plan for my money.  It’s the same amount of energy, but it is much more POSITIVE energy when I am focusing on leveraging my resources for the better.

ACTION QUESTION:  “Is this expenditure helping me build and preserve wealth or will it hamper, delay, or destroy my ability to do so?”

Read entire series (available on 9/2/2011)

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A Millionaire Response

Recently, I wrote a post that asked the question “What  would you if you had a million dollars?

A reader who identified herself as “KC” wrote an incredible response that I am sharing today (with her permission, of course).

… I will start out with our story. 10 years ago my husband and I were DEEP in debt. It took some very hard years and tough decisions (ie: no car in a northern city where it can snow any month of the year) and giving up some things that we thought were very important to us but… we are now out of debt and even better, we have that elusive 1 million dollars in assets and cash that you speak of.

What’s different? Nothing really.
Only a few lessons that I’ve learned:

If you didn’t tithe before, it’s unlikely that you will now. If you didn’t help your friends, it’s unlikely that you will now. If you don’t already save your money, it’s unlikely that you will now…

Basically I’m saying that unless you start to cultivate these things now, having a millions dollars isn’t going to change that. Your ‘mindset’ needs the change – and the money won’t change that.

I know some people who have nowhere near the million dollars that you speak of, and yet, they do all of these things and more.

With all due respect, you CAN take only $10 and gift it anonymously to someone who needs it more than you (and there is always someone in that position), you can tithe 10% of your income now, you can put money away for your child’s education now – even if it’s only $5, you CAN do all of these things.

Joe, I can understand the motivation behind your question, however I fear that it makes us forget what is truly possible right in front of us and in the situation that we are in right now.

When we were still climbing out of the deep pit of debt, some friends of ours found themselves in an even deeper pit. We helped them a little, anonymously, out of the little bit of money that we’d managed to stash away (leaving it almost at nil). But when I think back over the years, I recall that one over all of the other times that we have helped someone, that time felt as though we really made a difference to them and it made a difference to us.

Additionally, after achieving this momental moment, I’ve also learned something that I didn’t expect. When you ‘over-assist’ someone and they don’t have the joy of succeeding themselves, they don’t have the same joy in your gift. It feels like handcuffs to them. It creates an indebtedness that doesn’t belong in close relationships.

So… I guess that I am saying that a million dollars is not the be-all and end-all, it is simply one step on the many paths of being human.

– KC

All I could say when reading KC’s response was AB-SO-LUTE-LY and Amen sister!

What do you think?

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10 Random Questions To Ask Yourself About Money – Part 10

Welcome to the latest series on – 10 Random Questions To Ask Yourself About Money

These are 10 questions that have personally challenged me in my finances, and I know they can help you too!

Question 10  What is the ONE BIG THING that I need to do with my money right now?

We have spent the last 10 days talking about 10 Random Questions To Ask Yourself About Money.  It is my hope that you have been challenged and inspired to take your next big financial step.

ACTION:  Take your next step!  Write down your goal and establish a date that you want to complete it.

I would LOVE to hear your next step!  Would you take a moment to SEND IT TO ME?

Read entire series (available 8/19/2011)

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