Good morning, readers! Here's an excellent video featuring Brian Tracy to start your Thursday morning!
Showing posts with label Brian Tracy. Show all posts
Showing posts with label Brian Tracy. Show all posts
Thursday, July 28, 2011
Friday, February 5, 2010
The Law of Saving
By Brian Tracy
Financial freedom comes to the person who saves ten percent or more of his income throughout his lifetime.
One of the smartest things that you can ever do for yourself is to develop the habit of saving part of your salary, every single paycheck. Individuals, families and even societies are stable and prosperous to the degree to which they have high savings rates. Savings today are what guarantee the security and the possibilities of tomorrow.
Start With Yourself
The first corollary of the Law of Saving comes from the book The Richest Man in Babylon by George Classon. It is to "Pay yourself first."
Begin today to save ten percent of your earnings, off the top, and never touch it. This is your fund for long-term financial accumulation and you never use it for any other reason except to assure your financial future.
Develop New Habits Regarding Money
The remarkable thing is that when you pay yourself first, and force yourself to live on the other ninety percent, you will soon become accustomed to it. You are a creature of habit. When you regularly put away ten percent of your earnings, you soon become comfortable living on the other ninety percent. Many people start by saving ten percent of their income and then graduate to saving fifteen percent, twenty percent, and even more. And their financial lives change dramatically as a result. So will yours.
Take Every Advantage
The second corollary of the Law of Saving says, "Take advantage of tax deferred savings and investment plans." Because of high and even multiple tax rates, money that is saved or invested without being taxed accumulates at a rate of 30% to 40% faster than money that is subject to taxation. Self-made millionaires, according to Dr Thomas Stanley's book The Millionaire Next Door, are almost obsessive about accumulating their funds in assets such as real estate, self owned businesses and equities that increase in value without triggering tax liabilities.
Invest in company pension and retirement plans, 401(k) plans, IRA's, Keough Plans, Roth IRA's, Education Investment Accounts, stock option programs and whatever else has been approved by the IRS for long term financial accumulation. Make every dollar count!
Action Exercises
Here are two things you can do to apply this law immediately:
First, begin today to put away ten percent of your earnings. Set up a special account for this purpose and treat your contributions to this account with the same respect that you do your rent or mortgage payments each month.
Second, become a lifelong student of money. Read the best books, take courses and subscribe to the most helpful magazines. Know what you are doing so you can always make intelligent decisions when you invest your funds.
How Can You Attract More Wealth and Abundance?
We are now surrounded by more wealth than at any time in our history. The real question is how do YOU gain this abundance? Brian Tracy can show you how! Become a money magnet, immediately increase your income and learn wealth building secrets. Get the knowledge you need to make your financial future an outstanding one with The Unbreakable Laws of Money Package. Click here to get yours today!
Financial freedom comes to the person who saves ten percent or more of his income throughout his lifetime.
One of the smartest things that you can ever do for yourself is to develop the habit of saving part of your salary, every single paycheck. Individuals, families and even societies are stable and prosperous to the degree to which they have high savings rates. Savings today are what guarantee the security and the possibilities of tomorrow.
Start With Yourself
The first corollary of the Law of Saving comes from the book The Richest Man in Babylon by George Classon. It is to "Pay yourself first."
Begin today to save ten percent of your earnings, off the top, and never touch it. This is your fund for long-term financial accumulation and you never use it for any other reason except to assure your financial future.
Develop New Habits Regarding Money
The remarkable thing is that when you pay yourself first, and force yourself to live on the other ninety percent, you will soon become accustomed to it. You are a creature of habit. When you regularly put away ten percent of your earnings, you soon become comfortable living on the other ninety percent. Many people start by saving ten percent of their income and then graduate to saving fifteen percent, twenty percent, and even more. And their financial lives change dramatically as a result. So will yours.
Take Every Advantage
The second corollary of the Law of Saving says, "Take advantage of tax deferred savings and investment plans." Because of high and even multiple tax rates, money that is saved or invested without being taxed accumulates at a rate of 30% to 40% faster than money that is subject to taxation. Self-made millionaires, according to Dr Thomas Stanley's book The Millionaire Next Door, are almost obsessive about accumulating their funds in assets such as real estate, self owned businesses and equities that increase in value without triggering tax liabilities.
Invest in company pension and retirement plans, 401(k) plans, IRA's, Keough Plans, Roth IRA's, Education Investment Accounts, stock option programs and whatever else has been approved by the IRS for long term financial accumulation. Make every dollar count!
Action Exercises
Here are two things you can do to apply this law immediately:
First, begin today to put away ten percent of your earnings. Set up a special account for this purpose and treat your contributions to this account with the same respect that you do your rent or mortgage payments each month.
Second, become a lifelong student of money. Read the best books, take courses and subscribe to the most helpful magazines. Know what you are doing so you can always make intelligent decisions when you invest your funds.
How Can You Attract More Wealth and Abundance?
We are now surrounded by more wealth than at any time in our history. The real question is how do YOU gain this abundance? Brian Tracy can show you how! Become a money magnet, immediately increase your income and learn wealth building secrets. Get the knowledge you need to make your financial future an outstanding one with The Unbreakable Laws of Money Package. Click here to get yours today!
Monday, February 1, 2010
Think Like a Millionaire
By Brian Tracy
Attitude is Everything
The most important attitude for financial success is long-term thinking. Successful people think a long way into the future and they adjust their daily behaviors to assure they achieve their long-term goals. In a longitudinal study done at Harvard University in the 50s and 60s, they studied the reasons for upward socio-economic mobility. They were looking for factors that would predict whether or not an individual or family was going to move upward and be wealthier in the future than in the present.
They studied factors like education, intelligence, being born into the right family, or having the right connections. In every case, they found individuals who had been born with every blessing in life who did poorly. They also found individuals who had been born or come to this country with no advantages at all who had been extremely successful. What was the distinguishing factor?
They finally determined that there was only one key attitude that mattered. They called it "Time Perspective." Time perspective refers to the amount of time that you take into consideration when planning your day to day activities and when making important decisions in your life.
Time Perspective
People with long-time perspective invariably move up economically in the course of their lifetimes. When you spend weeks, months and years developing your skills and ability and expanding your experience in order to be successful, you have long-time perspective. The average professional person has a time perspective of 10, 15 and 20 years.
Begin to see that everything that you are doing today is part of a long-time continuum, at the end of which you are going to be financially independent or financially unfortunate. People with short-time perspective think only about fun and pleasure in the short term. They have what economists call "The inability to delay gratification." They have an irresistible tendency to spend every single penny they earn and everything that they can borrow.
When you develop long-time perspective, you develop the discipline to delay gratification and to save your money rather than spending it. The combination of long-time perspective and delayed gratification puts you onto the high road to financial independence.
Action Exercises
Now, here are two things you can do to develop the attitudes of financially successful people:
First, think long-term about your financial life. Decide exactly how much you want to be worth five years, ten years and twenty years from today. Write it down. Make a plan. Take action on your plan every single day.
Second, develop the ability to delay gratification. Instead of buying something on impulse, put off buying decisions for a day, a week or even a month. Decide in advance to "think it over" before you buy anything. This can change the way you spend money almost immediately.
Attitude is Everything
The most important attitude for financial success is long-term thinking. Successful people think a long way into the future and they adjust their daily behaviors to assure they achieve their long-term goals. In a longitudinal study done at Harvard University in the 50s and 60s, they studied the reasons for upward socio-economic mobility. They were looking for factors that would predict whether or not an individual or family was going to move upward and be wealthier in the future than in the present.
They studied factors like education, intelligence, being born into the right family, or having the right connections. In every case, they found individuals who had been born with every blessing in life who did poorly. They also found individuals who had been born or come to this country with no advantages at all who had been extremely successful. What was the distinguishing factor?
They finally determined that there was only one key attitude that mattered. They called it "Time Perspective." Time perspective refers to the amount of time that you take into consideration when planning your day to day activities and when making important decisions in your life.
Time Perspective
People with long-time perspective invariably move up economically in the course of their lifetimes. When you spend weeks, months and years developing your skills and ability and expanding your experience in order to be successful, you have long-time perspective. The average professional person has a time perspective of 10, 15 and 20 years.
Begin to see that everything that you are doing today is part of a long-time continuum, at the end of which you are going to be financially independent or financially unfortunate. People with short-time perspective think only about fun and pleasure in the short term. They have what economists call "The inability to delay gratification." They have an irresistible tendency to spend every single penny they earn and everything that they can borrow.
When you develop long-time perspective, you develop the discipline to delay gratification and to save your money rather than spending it. The combination of long-time perspective and delayed gratification puts you onto the high road to financial independence.
Action Exercises
Now, here are two things you can do to develop the attitudes of financially successful people:
First, think long-term about your financial life. Decide exactly how much you want to be worth five years, ten years and twenty years from today. Write it down. Make a plan. Take action on your plan every single day.
Second, develop the ability to delay gratification. Instead of buying something on impulse, put off buying decisions for a day, a week or even a month. Decide in advance to "think it over" before you buy anything. This can change the way you spend money almost immediately.
Continuous Learning
By Brian Tracy
Throughout the developed world, we have moved from an era of manpower to an era of mind power. We have moved from the use of physical muscles to the use of mental muscles. Today the chief sources of value in our society are knowledge and the ability to apply that knowledge in a timely fashion. In the information age, knowledge is king, and those people who develop the ability to continuously acquire new and better forms of knowledge that they can apply to their work and to their lives will be the movers and shakers in our society for the indefinite future.
When you learn and practice the techniques for rapid learning, when you join the learning revolution, you will learn how to unlock the incredible powers of your mind. You will learn how to become smarter faster than ever before. You will learn how to become a master of your fate rather than a victim of circumstances. You will learn how to take complete control of your present and future destiny so that you can accomplish and achieve anything you want in life.
The answer to almost every question and the solution to almost every problem in the world of work is to learn and practice something new and different. When you learn how to use the incredible power of your brain to absorb and apply new ideas and information, you will be able to lead the field and rise to the top of any profession or occupation.
Here's another question for you: What is your most valuable asset? In terms of cash flow, what is the most valuable thing you have? Well, unless you are very rich, or have a family trust account, your most valuable asset is your "earning ability." It is your ability to earn money. It is your ability to apply your knowledge and skill in a timely fashion to get results for which others will pay.
Specific knowledge and specific skills will become obsolete with the passing of time, but learning how to learn is a permanent skill that you can use all the days of your life. The people who join the learning revolution, and who learn how to learn faster, like those people who first learned how to operate computers, or learned how to become excellent in their fields, will be able to earn more in one or two years of work than the average person earns in perhaps five or ten years.
By joining the learning revolution, you will enhance every area of your life. You will be able to help your spouse and your children unlock and realize more of their individual potentials. You will be a better friend in helping your friends use more of their abilities. And you will be a better manager, developing the skills that will enable you to get far more out of yourself and other people than ever before.
Throughout the developed world, we have moved from an era of manpower to an era of mind power. We have moved from the use of physical muscles to the use of mental muscles. Today the chief sources of value in our society are knowledge and the ability to apply that knowledge in a timely fashion. In the information age, knowledge is king, and those people who develop the ability to continuously acquire new and better forms of knowledge that they can apply to their work and to their lives will be the movers and shakers in our society for the indefinite future.
When you learn and practice the techniques for rapid learning, when you join the learning revolution, you will learn how to unlock the incredible powers of your mind. You will learn how to become smarter faster than ever before. You will learn how to become a master of your fate rather than a victim of circumstances. You will learn how to take complete control of your present and future destiny so that you can accomplish and achieve anything you want in life.
The answer to almost every question and the solution to almost every problem in the world of work is to learn and practice something new and different. When you learn how to use the incredible power of your brain to absorb and apply new ideas and information, you will be able to lead the field and rise to the top of any profession or occupation.
Here's another question for you: What is your most valuable asset? In terms of cash flow, what is the most valuable thing you have? Well, unless you are very rich, or have a family trust account, your most valuable asset is your "earning ability." It is your ability to earn money. It is your ability to apply your knowledge and skill in a timely fashion to get results for which others will pay.
Specific knowledge and specific skills will become obsolete with the passing of time, but learning how to learn is a permanent skill that you can use all the days of your life. The people who join the learning revolution, and who learn how to learn faster, like those people who first learned how to operate computers, or learned how to become excellent in their fields, will be able to earn more in one or two years of work than the average person earns in perhaps five or ten years.
By joining the learning revolution, you will enhance every area of your life. You will be able to help your spouse and your children unlock and realize more of their individual potentials. You will be a better friend in helping your friends use more of their abilities. And you will be a better manager, developing the skills that will enable you to get far more out of yourself and other people than ever before.
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