May 012014
 

Thought I’d share another helpful tip from the recent seminar I went to 😉

If we think like the rich, and act like the rich, then wouldn’t it make sense that eventually we will become the rich? Yup, I think this makes a lot of sense 😀 For example rich people don’t say “I can’t afford that.” Instead, they ask “HOW can I afford that?” This turns a problem into an opportunity which forces them to be solution seekers 🙂 Why is this important? Because that’s how we make money in this world (^o^) Financial gain comes from finding solutions to other people’s problems.

Every dollar I’ve ever made so far has been a result of me helping someone else to solve a problem they had. This is an interesting realization for me 😮 Is this true for you too? The rich are solution seekers, and the poor are complainers 😛 Technology companies like Google for example make billions of dollars each year because they offer solutions to so many everyday problems.
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So how to act on this knowledge and make it a reality? Well some investors may not feel comfortable if their stocks suddenly lost a lot of value 🙁 For example if John has a lot of McDonald’s shares but is retiring soon, he may want to buy some insurance against a market crash. Sounds like he needs a solution 😀 Let’s help him find one!
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Today $MCD is trading at roughly $100 per share. John wants to find someone who would be willing to buy his MCD stocks from him for at least $90/share when he retires next year. This way, he limits his downside risk 🙂 Of course he doesn’t have to sell if the share price doesn’t fall below $90. It’s optional for him. So in summary, he benefits from unlimited upside if MCD climbs higher 🙂 And if the stock falls the most he can ever lose is just 10%. Pretty good plan for John.
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But who will agree to potentially buy the shares from him at $90? Well that could be us 😉 And for our services as his insurance policy, he will have to pay us a juicy juicy premium, haha 😀 This is an example of a put option.
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So I called my broker yesterday to upgrade my account to level 4. The change will take 3 business days. But once the upgrade is complete I will be able to sell put options and make some extra side income via option premiums (^_-) If I keep thinking like the wealthy and discover new ways to solve problems for other people, then I’ll eventually become rich myself :0)
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Random Useless Fact: Burgers and fries are often cheaper than salads. This is part of the reason why the U.S. spends $190 billion on obesity-related health care expenses each year.
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Feb 252013
 

Found a list of 17 ways that rich people tend to think. It’s been floating around the internet for awhile and there’s even a Youtube video on it. How legitimate or practical this list actually is probably will depend on who you ask. And the terms “rich” is pretty subjective to begin with. I don’t know if all the points it lists are true, but it’s fun to go down through it anyway and see if you have any of these traits yourself 🙂

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Rich people….

1. Believe they create their own destiny
2. Play the money game to win
3. Are committed to being rich, not just want to be
4. Think big
5. Focus on opportunities rather than obstacles
6. Admire other rich and successful people rather than resent them
7. Associate with positive, successful people
8. Are willing to promote themselves
9. Are bigger than their problems
10. Are great receivers
11. Choose to get paid based on results, not time
12. Think “both” instead of “either or”
13. Focus on their net worth more than their income
14. Manage their money well
15. Make money work hard for them
16. Take action despite fear
17. Constantly learn and grow

I fit in with most of these, so I guess that means I’m on the right track to becoming rich :0) Despite being about your financial well being I think most of the items on the list are pretty good suggestions for how to become successful in life, in general 😀

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Random Useless Fact:  Look at the images below. What do you notice about them?

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This is Colgate’s clever advertisement for their dental floss. The idea is that having leftover food between your teeth is so noticeable and attention grabbing, that you might not have even noticed the physical defects in these images, like how in the top picture the lady has one finger too many on her hand. The second picture has an out-of-place arm resting on the guy’s shoulders. And the fellow in the bottom picture is missing his right ear. Which did you notice first, the food between their teeth or the strange body parts?