Wizards of Wealth

Do you love what you do?

The people who nail it usually do.

What struck me was that, win or lose, these are obviously winners with a mental toughness and an indomitable spirit.

The Olympic Spirit was briliantly revived by Pierre de Coubertin. He woud be proud of his accomplishments in displaying to the world the finer qualities of these marvelous athletes. To him it was more than just an athletic event; the development of the contestant’s moral character and turning boys into men (and girls into women) was his underlying purpose.

What makes you happy? What are you willing to sacrifice to get it?

Even if you were a gangly kid with too-big-ears who was made fun of when you were a child, there is nothing that can hold us back from our dreams if we really want it. Not age, not intelligence, not who we know, not what our friends or relatives think of us.

As Chris Gardner told his son Chris: “If you want somethin’ go get it”.

In the Good Book, there is an intriguing passage regarding the principle of momentum. If you are familiar with Mark 25:29, then you know the basis for the concept of “The rich get richer.” Along with imagination, this is one of the most important concepts for creating wealth.

Wallace Wattles, in one of his classic works, talks about the power of our gratitude as being one of the most important factors in getting more out of life. Who wants to give to someone who doesn’t appreciate what he already has? Even if we acquire more, we will just be in a new place, but still unhappy and never satisfied.

I guess Ara Abrahamian never learned this lesson, and certainly he would have some explaining to do to Pierre if he were still around.

When you see Dara’s winning smile, you know that she’s the real thing and her pursuit has been found; not in the victory but in the process of going after her dream and enjoying life to the fullest.

There are so many positive role models for us; let’s find ours and use their stories to inspire and motivate us to become who we were meant to be.

Carpe diem.

Those were the days; a simpler life. Sunday nights were for family dinners and Ed Sullivan.

Mom stayed home and raised the kids while Pop went to work.

While nostalgic thoughts are important parts of our psyche, Happy Days are not here again.

The rat race continues. Tired or not, maintaining our current lifestyle seems to demand more time to support it while we suffer more intrusions into our personal lives.

Regaining control requires eliminating good things from our activities. Making time for only our highest priorities allows us to focus on the “vital few instead of the trivial many“.

Self-help superstar entrepreneur and business guru Brian Tracy continually advocates the importance of leveraging our time and resources. Nothing will change until we do.

Speaking of change, be aware of these wealth preservation thoughts during these turbulent times with a number of banks becoming insolvent. 

Gotta go, time for Laverne and Shirley .

The economy continues to shrivel, and is being shrink-wrapped by the media hype of gloom and doom.

We have had our share of asian contagion, mad cow disease, Y2K, and other memorable fears.

The reality is that life goes on, (and that’s a good thing), and we must continue to put forth our best effort at raising the bar for our financial security.

There are some things that money can’t buy , for everything else there’s…

Well, either we have it or we don’t. If we don’t have it, then we can borrow it, and pay it back later, with interest of course.

Getting off that treadmill is not as easy as it sounds.

Breaking the cycle of credit card debt is one of the most important first steps we can do to move down the road towards our financial freedom.

Saving, although unglamorous, is another.

Raising our income through income-producing businesses is vital to anyone who wants to break the trap of working for a living.

It has never been easier to begin Inertnational Commerce via Web-based businesses, through template designers like Darren Hoyt, Michael Pollack, Brian Gardner, and Cory Miller.

Fail our way to success; all we need is one good idea.

How about masterminding a social networking site like bebo ?

If a plan is necessary for success; putting the plan into action is vital.

Only the emotionless can read this article and not get chills.

I guess these are really desperate times for many people, especially those who tie their self-esteem to their net worth.

The simple steps to creating wealth are on hold for many would-be millionaires. Paying for gas, food, and the mortgage now have taken center stage before building the investment portfolios.

As the kids used to ask, “are we there yet?”

No one knows where the bottom is for the mess we have gotten ourselves into.

What I do know, is that there is always opportunity.

Any rational person will get their head above water, and figure out how to make a profit from whatever ideas seem to make sense in the current economic climate.

Here is one man’s idea. He is a mortgage broker who has recognized that his previous business model wasn’t working, and has made appropriate changes to help himself by helping others.

What’s your idea?

On a sad note, Randy Pausch will be missed, but his ideas have left quite a legacy for his family. He was an inspiration for all and a true wizard of wealth. Our sympathy and condolences are extended to his family in their time of sorrow.

The government has legislation approved to bailout “400,000″ potential foreclosure victims (who knows what the real number is), awaiting President Bush’s approval.

If you are into investing and trading, there are some sophisticated thinkers out there who can help us to better understand the social and herd pyschology. There are times we want to run with the herd. If they are being led to the slaughter, however, it may be a good idea to become part of the buthcher’s team.

There is a reationship between Point A and Point B, whether we can see it or not.

A favorite past time of mine is connecting the dots, although many times I am quite obtuse.

I believe in learning from experts. One of my daughters is an expert on books. A number of years ago I asked her a personal question: “If you were stranded on a desert island and could have only one book with you to read, what would you like it to be?”

Without hesitation, this was her answer. My reading list is mostly non-fiction, but that should explain to you why this semingly out of character book is in my library. To this day, I still agree with her choice.

Read what defense attorney Mark Zauderer has to say regarding connecting the dots in a current fraud and conspiracy case involving former Bear Stearns executives.

Evidently, many borrowers were duped, and Operation Malicious Mortgage is aimed at identifying individuals who took advantage of the hapless homeowners in the current mortgage crisis.

On a personal level, we can never abdicate the responsibility for our financial freedom to anyone else, any more than we can expect a Doctor to be responsible for the choices we make regarding our health.

On a collective level, evidently things are not quite so simple. Evidently we have personally racked up a cool half million dollars of debt per household while we hid our head in the sand. Andrew Yarrow offers chilling evidence that should be sobering to even the most liberal of spenders.

Connecting all these dots, a not-so-pretty picture is beginning to emerge.

We better say a prayer.

Miss Mary Mack, Mack, Mack

All dressed in black, black, black…

So goes the childhood rhyme the kids used to chant when playing hand slapping games.

Speaking of slapping Mack, I guess IndyMac got themselves into a little trouble, becoming the latest casualty of the subprime wars.

In a related development, another Mac named Freddie better get off its Fanny (them too) and figure out how to dig out from this curent mess.

A government bailout is the politician’s answer, and the American taxpayer (you and me) are  the one’s who will be shelling out the cash.

A major premise of the Wizardzofwealth philosophy is actually quite simple, and borrowed from Rich Dad, Poor Dad: “When you find yourself in a hole, stop digging.”

Would someone please remind these supposedely intelligent people of that basic rule?

There is enough gloom and doom out there, and while we do not wish to add more fuel to the fire, we again remind our readers that now is no time to be a hero.

I was talking with a relative yesterday who is suffering through a triple play against him already this year: He lost his job, his house has gone down 30% in value, and his 401 k retirement fund lost some 50% . As you may imagine, he is not a happy camper.

Robert Prechter talks a lot about social mood in his Elliot Wave publications. It gives me great insight into my relative’s need for assistance in dealing with anger mangement.

When I asked him what he was going to do about it, he said “what can you do about it, nothing!”

The heart of the problem for many average American’s fatalistic attitudes is their financial ignorance.

Educating ourselves and then applying that knowledge is the way we can help ourselves personally.

Read investment experts like Jim Shepherd to better understand hedging devices that will protect ourselves from the coming storm.

It is never too late to learn how to protect the well-being of our loved-ones.

Now there is an oxymoron if I ever heard one.

I have found that Freedom is not really free.

One way or another, sooner or later, there is a price that must be paid.

Are you wiling to pay the price?

Try running a half mile. As you stand there (if you’re like me, you would be lying down on your back) gasping for air, even your body knows that an oxygen debt must be repaid.

It has become popular to bash America lately. While not perfect, there is much to be thankful for as we are living in a land of freedom of opportunity, where we are rewarded according to the risks we are willing to take. Again and again, with no limit to the choices we can make.

Paid for by more than a few brave men and women.

While the present economic crisis continues to concern us all, I choose to focus on the endless possibilities of success that are available to any us.

Hard work, creative imagination, being in the right place at the right time, master-mind alliances, providing value to our clients or customers, investing in vehicles that are hedges against economic collapse are all choices we can make to provide financial independence for ourselves and those we love.

God bless America.

If our personal finances are in shambles, that needs to be dealt with before we move on and create wealth.

Stop the financial bleeding, think clearly, and assess the situation. Then redirect our energy into productive activity.

Alternatively, if something is going right, keep doing what we are doing.

On June 29, Nineteen Hundred and sixty-eight, the seeds were sown for my current wealthy lifestyle.

She said “I do” and without a plan or guarantee we set out to see what we could become.

We have enjoyed the ups and downs and all the in-between that life has to offer since that memorable day. Ruth Ellen has blessed our family with two very special daughters, and now the circle of life continues to expand as George became our first grandchild some 21 months ago.

Things have been going right for me since that sunny June morning, so I think I will just keep doing what I have been doing.

Wealth encompasses much more than financal prosperity, but lack of income or cash can put undue stress and a real damper on our relationships.

There is always hope, but we each must do our part.

As we continue to expand our knowledge, and apply what we have learned, we can enjoy the fruits of our labor.

My wish for you is to find the right person to be with and enjoy all of life’s journeys.

The wind has been at my back all these years with Ruth Ellen by my side.

Life is Good.

After they have heard their last lecture, this is the time of year for graduates to reflect on where they have been in life, and where they are going.

Today’s message is about reminding you to celebrate the moment you are in, the present.

It has been said that a life of education begins at birth and ends at death.

Joey has had a rare disease that has troubled him all his life. In and out of hospitals, children’s centers, and seeing one specialist after another. He had a condition where his body rejected all natural foods, and it appeared that he would be on a formula forever.

There were times we weren’t sure if he would even celebrate another birthday.

Yet all through these trials, his very special parents were unwavering in their committment to get him the best care, to study and do their own research. They had faith that there is a solution to every challenge.

He has missed all the fun foods over the years like pizza, hot dogs, ice cream and (you fill in the blank here).

He has shown a remarkable recovery the last few years after some experimental surgery, with one of the side effects being NO HAIR on his body.

Some of us are learning to live with that ourselves.

After the commmencement speaker spoke the words from a classic Irish Blessing, we all proudly and happily watched Joey march down the aisle and receive his diploma, graduating with honors.

Hat’s off to Joey. He even had a full head of hair the day of graduation, as it started to grow in about three months ago.

Tough times never last, but tough people do.

As Jim Rohn likes to say, “God’s arms are not too short, they reach everybody.”

That means me and you.

Whatever your concerns, get over it and move on, focusing on how you can help yourself by helping somebody else.

We are surrounded by weeds.

Accepting that we have negativity all around us, our challenge is to look beyond the adversity in our life and grow beautiful flowers like orchids. People like Bill Strickland have embraced this philosophy, and made the world a better place because of it.

The Tiger started yesterday’s round with a double-bogey; yet he finished with an eagle to take the lead at the U.S. Open. What a role model he is for anyone who wants to bring out the best in themselves.

“Everyboy’s got something,” my Dad often said, referring to the undeniable truth that we all have obstacles that need to be surmounted.

“I was upset and complained because I had no shoes until I met a man who had no feet” he continued. This was one of the greatest lessons that was shared with me, and I try to remember that as often as I can when I am frustrated with my results and achievements.

Pop was generous with these important gifts, because he cared about us. He knew that no matter how much or how little we had, there would always be somebody better or worse off than we were. Comparisons with others were irrelevant; what mattered most was how we felt about ourselves, and how we used our talents and gifts to help somebody else less fortunate than we were.

To me, being wealthy means recognizing the abundance that already exists in our own life, and heping others discover ways to find their own success, however they define it.

Happy Father’s Day to all those wonderful Dad’s out there like my Pop who took the time to show me that even weeds have flowers.