Wizards of Wealth

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.

In last week’s article we discussed the need to re-invent ourselves.

We do not mean re-inventing the wheel of course, but rather the dynamics of the wheel; its materials, size, strength, construction, and balance.

We are taking our own advice, so please excuse our site as we are bringing it to the web 2.0 standards. It will help us more easily deliver our original content, while allowing us to create the interactive environment that is needed to provide for the flow of ideas in our community. Thanks for your patience during our reconstruction; we will remain open for your convenience throughout that process.

We acknowledge and embrace the needs of our physical, mental, emotional, spiritual, and social being. We heartily endorse the significance of the family unit and the pleasures that can only be found through those significant relationships.

With that said, the focus and scope of our free site is to help our readers with the financial aspects of their lives.

We have seen too many people lose sight of those other values because of the financial predicament in which they currently find themselves. There is another group of people who previously may never have been exposed to the harsh realities of the shifting economic tides; people unequipped to deal with the loss of financial security.

Our core values remains the same; we need to get our head above water before we can swim. We promote the concept of survival first, attaining a comfortable lifestyle next, and lastly achieving a leisure level whereby we do not have to work any more to meet our financial obligations. Then we are free to choose how we spend our time and money.

Some will choose leisure activities like golf or tennis or swimming. Others sailing, boating, fishing. Some will volunteer and find a way to help those less fortunate. Some will travel and escape to faraway destinations of their dreams. Some will mentor; some will enjoy the pleasures of their garden; and some will enjoy precious time with their family, whether they are aging parents, grandchildren, or spouse and childen.

Wouldn’t it be nice to have the time to do the things you really want to do, without having to worry about money?

If financial freedom is easily within our grasp, why are so many people currently in trouble?

There has never been a time when so much information on any topic is so easy to find. Sifting through too much information in our “brain attic” is part of the problem; actually having the courage and discipline to use it is another.

Please help spread the word, we are building it, and they will come.

Juan is a good friend of mine in the Naples Florida area. He is a real estate broker as well as a mortgage broker,and he has some insights into the plight of the current dismal real estate market.

With prices plummeting @ 25% already in the past three years, and no end in sight,he knew he had to change his business model,or else he would become a victim of the severe downturn himself.

I asked him how business was doing, and he said great.

When business dried up, he decided to take control and do what he could to improve things. He investigated loan loss mitigation and credit repair services, and now his activity level is thriving, adding prepaid new clients every day.

In the old days, if Juan was a maker of buggy whips, he would have been the first to embrace selling parts for the horseless carriage.

It seems easier to operate in a normal market, but there are some entrepreneurs like Juan and Daniel who take adversity, look it in the eye, and reinvent themselves.

How about you; have you let go of your ideas for the improved buggy whips yet?

Website development is both a tedious and an exciting process.

For the youthful, infinitely easier; for archaic folks a lot more challenging.

The technology continues to evolve, and as we redesign our site to make it more interactive and user friendly, we are trying to incorporate enough new ideas so that we are not obsolete by the time the site is reworked.

Keeping abreast of some of the leaders in the field is not easy, as it is continually moving.

Latest widgets are considered, as are ideas from sophisticated website designers and talented professionals.

Converting ideas into reality is a process, and made more difficult by the constantly changing economic climate.

We believe this is a challenging time for people, and a review of the basics of financial literacy are still relevant. That’s why we want to provide the timeless content that will help people rise above their present limitations.

Review the basics, and refocus on your game plan.

An article I read in GQ was referencing a investment banker who lived high, earning 100k+ a month, who has just given up all but one of his expensive cars, his multiple homes, and his $5,000 meals at fancy restaurants twice a week because he can no longer afford it.

He has squandered a substantial income, because he thought rainy days would never come. Now out of work, he has embraced the more traditional values like family and relationships.

Too bad no one ever told him he could have it all.

Negativity permeates the real estate atmosphere these days.

It is an important topic, since so many people have much of their wealth tied up in their homes, and some have chosen to finance them with an adjustable rate mortgage.

Broadcasting gloom and doom sells copy these days, and certainly we hate to add to the destruction of the American psyche.

It seems to be doing well enough on it’s own without our intervention.

How could so many people have gotten it so wrong?

What can be done now if you are in over your head?

First, remember to keep your cool.

Next, decide, from a practical standpoint, what needs to be done.

Third, set your plan in motion, and fourth, do it.

Don’t complicate your life with the excess baggage of emotional hand-wringing if you built your house on the sand.

And finally, remember what true wealth is all about.

No McMansion can ever substitute for the traditional values of a loving, caring self-nurturing family.

In the material world, however, remember that wealth is constantly changing hands.

Our purpose is to help you discover how to prosper, and then help others to do the same.

Resolve to learn from the experience, and reassert your vows to your spouse that “for better or for worse” you will get through this experience.

Do you remember a childhood game that we used to play called “Mother My I ?”

 As you will recall, we had to ask for “permission” to do something.

“Can I take 3 giant steps forward ?”

“No, but you may take 2 small steps backwards.”

In real life, some of us have been blessed to have a mother who scolded us, disciplined us, and encouraged us to enjoy life and see the beauty and wonder of it all.

And they also loved us unconditionally.

If you have been doubly blessed, you have found a wonderful spouse that has these same qualities, and has given you some children to surround yourself as family.

Talk about true wealth, does it get any better than this?

Happy Mother’s Day to all those deserving women who make this world a better place for all of us.

This young lady probably doesn’t have time to read this, and this young man certainly won’t either, but I bet he had a loving, supportive mother who encouraged him by telling him that “Nothing is impossible if you want it badly enough.”

Go for your dreams while there is still time; with all due respect for Mom, the only person who needs to give you permisson to succeed is yourself.