Steps to Building Wealth

You can have financial freedom and financial security. Money blueprint is the mental wiring of how you relate to money. How are you programmed to be a compulsive spender or a compulsive saver? In the Millionaire Next Door by Thomas J. Stanley Ph.D. and William D. Danko Ph.D.  states “ Wealth is more often the result of a lifestyle of hard work, perseverance, planning and , most of all, self-discipline.” Webster’s dictionary “Frugal is defined as “behavior characterized by our reflecting economy in the use of resources.” The opposite of frugal is wasteful. To reach your goal of being financial freedom through saving and investing takes discipline and you have to increase your financial IQ. Learn how to read financial pages and learn how to minimize and manage the risk in investing.

 

Building Wealth – The Stock Market

Investing in the stock market can be risky but you have to learn how to manage the risk. Learn the different between New York Stock Exchange (NYSE), the American Stock Exchange (AMEX) and the NASDAQ.  The Chicago Mercantile and Chicago Board of Trade which both are option and commodity exchanges. The Minneapolis Grain Exchanges Trade exchanges in grain. Global trade markets (TSE) Tokyo Stock Exchange, the Frankfurt Stock Exchange. Learn how they function.

Choose an investment style whether it be technical analysis and fundamental analysis or supply and demand.  A technical analysis looks at the price movement of a security and uses this data to predict its future price movements. Fundamental analysis, on the other hand, looks at economic factors, known as fundamentals. The law of supply and demand defines the effect that the availability of a particular product and the desire (or demand) for that product has on price.  As you choose your style of investing become proficient by taking classes, courses, online classes, read books and study to increase your knowledge.

Choose your investment vehicle stocks, bonds, mutual funds or an exchange-traded fund (ETF) is an investment fund traded on stock exchanges, much like stocks. An ETF holds assets such as stocks, commodities, or bonds, and trades close to its net asset value over the course of the trading day. Hedge funds a hedge fund is an investment vehicle and a business structure that pools capital from a number of investors and invests in securities and other instruments.

Portfolio

A portfolio is a collection of mutual funds, stock, bond, and other investment you own. As you learn how to manage risk you can build wealth through investing. It take time and knowledge to become an expert investing. You have to increase you financial IQ.

Resources

     Books

       The Millionaire Next Door by Millionaire Next Door by Thomas J. Stanley Ph.D. and William D. Danko Ph.D. 

      Guide to Investing by Robert T. Kiyosaki with Sharon L. Lechter

      The Business School by Robert T. Kiyosaki with Sharon L. Lechter

      The Warren Buffett Way by Robert G. Hagstrom

      The Warren Buffet Portfolio by Robert G. Hagstrom

      Buffettology by Mary Buffett and David Clark

Tools

Texas Instrument Ba II plus Professional calculator

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Simple Wealth Building – Strategies

 

Building wealth is a simple consisted system that leads to your financial freedom. It’s a system which designed for debt-reduction and increases your saving ability. The steps to building wealth begins with a clear definite, intentional, and on purposes to attain it. It’s a deliberate process in which you continue to do to reach your goal. You can continue on your current path of debt and barely enough just to get by, and hoping one day your ship gone come in and then one day retire and collect Social Security. Or you can make a decision you are going to take charge of your finances. You can take action and develop a new mindset and habits to help you build wealth. You can develop the skills you need to become financially independent.

Habits of the Wealthy

Wealth starts with great savings habits and managing money. Money management skills are essential to building wealth. Develop healthy money habits and eliminate debt. Debt is a habit that must be broken it is consuming your wealth. It is taken money out your account and building someone else account. Break spending habit, when you have a desire to spend money on items which do not increase in value put it in a saving account. Accumulate wealth by saving 10% of all the income you acquire.

 

 

Make a budget and Set a Monthly Saving Goals

Pay yourself first and put it in a saving account or some type of saving vehicle like; money market account, money market funds, certificates of deposit (CDs) or a no load mutual fund, tax free municipal bonds and T-bills. I advise to seek a financial planner to help you develop a financial plan for you if you lack the financial understanding of some these saving vehicles. Collect all your bills and create a budget. Start by increasing the amount you pay on your smallest bill and pay it off. Then take the money you were paying on that bill and apply it to the next bill. Then take the money from that bill and apply it to the next bill until all your bills are pay off. Once you are out of debt increase your saving.

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Alvin Walker

Contact info (678) 572-9439

Life Coach/Motivational Speaker/Author
Author of From Pain to Passion: Living Life with a Purpose coming Spring 2015

Live the Life of Your Dreams!

You can live the life of your dreams by visualizing the life you want. Dictionary. Com defines visualize as:

1.      to recall or form mental images or pictures

2.      to make visual or visible

3.      to form a mental image of

4.      to make perceptible to the mind or imagination

Genesis 11:6 nothing will be restrained from them, which they have imagined to do.

Amplified version, nothing they have imagined they can do will be impossible.

ASV version, now nothing will be withholden from them, which they purpose to do.

CEV version, soon they will be able to do anything they want.

CJV version, nothing they set out to accomplish will be impossible for them!  

If you can form a mental picture in your mind of what you want to achieve and believe you can accomplish it. You can have it. A mental picture is an image or concept of what is not actually present or visual to the physical senses. It is seeing in the unseen world and bring it to the physical realm. It is seeing with the eyes of the mind all that is possible to achieve. Your dreams are your blueprint of your life. It is the very substance of what you were created for. Dreams are the goal posts. They are the road map to your destiny.

In an article by Berkeley University of California, titled Goal-Setting: Developing a Vision & Goals for Your Career Plan states “Having a clear vision of the end state we are trying to achieve before we take action to reach our goals is the key factor in accomplishing any goals that we set. Do you have a clear mental image of who you will be in the future? Your vision is a “picture” of what you aspire to – and what inspires you – in your work life. Articulating your vision statement for your career is the first step in helping you eventually reach your career goals.”

You can accomplish and achieve any goal. You can live the life of your dreams it all starts by seeing it in your mind and then creating a plan of action. Take action and steps towards your dreams.

1.      Visualize it

2.      Create a plan

3.      Take action
 

Career and Goals Setting

“Setting goals is the first step in turning the invisible into the visible.” - Tony Robins

As you start off 2015 setting goals and thinking about your career be encouraged and reach for the impossible. Donald Trump said “You have to think anyway, so why not think big?" Goal setting is a very imperative and needed skill to be successful in life and career. When you don’t have goals you are just wondering through life settling for whatever life may throw at you. When you are goal oriented you live life with a purpose reaching and aiming for a target.

Goals

Setting goals helps you decide where you want to go in life and what you want to achieve. You know where you have to focus your energy, efforts and time. You'll be able to notice distractions that are hindering you in your process of obtaining your goal. Successful businessman, top-level athletes, and high achievers in all fields all set goals. One great all time basketball player Larry Bird who played for the Boston Celtics, winning three NBA championships and two NBA Finals MVP awards.
Larry Bird was a 12-time NBA All-Star and was named the league's Most Valuable Player (MVP) three consecutive times (1984–1986). He would practice his set- shot hours after practice his goal would make a 100 shots after practice. Goals is what helps builds self-confidence. Goals gives you directions in life and a way to measure your progress.

Cultivate a mind of success
Cultivating a mind of success is a life of continuing learning and developing new skills. You have to read books surround yourself with successful people. Successful people all have one thing in common and that is the attitude of continuing to learn by reading books, magazines, taking classes, going to seminars, conferences, and training. They never become satisfied with their personal growth. They are willing to learn more. You have to invest in yourself. The greatest collection a person can have is his own personal library.

Careers

Decide what career you want in life and go for it. You are never too old to go after your dreams. You have to remove that fear that it is too late or you have wasted too much time. If you already have a career decide what level of success you want to reach and develop a plan to reach that level. Decide your educational path: what classes you need to take, what school you want to attend, and what skills are needed to help you reach your goal.

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Alvin Walker
Author, Life Coach, Motivational Speaker

Breaking Bad Habits part 3

Habits and addictions can be broken it starts with awareness you have an addiction or bad habit that needs to be broken. The next step is making a decision you want to be free. Creates new healthy habit in exchange for the bad habits and creates new mindset. Begin to see yourself free. I always advises to seek your physician and medical help. Here’s some resources that may be able to help you with your life style change.

Causes of Mindset Addicted Behavior

 A mindset is engraved thoughts, ideas, belief, teachings, and traits, in the mind which you believe is truth.

Webster Dictionary defines mindset as “a particular way of thinking: a person's attitude or set of opinions about something.”

:  A mental attitude or inclination

:  A fixed state of mind

Free Dictionary defined it as “A fixed mental attitude or disposition that predetermines a person's responses to and interpretations of situations.”

.  An inclination or a habit. A habitual or characteristic mental attitude that determines how you will interpret and respond to situations.

Robert Sternberg, author of Successful Intelligence says a mindset is “Mindsets are beliefs—beliefs about yourself and your most basic qualities. Think about your intelligence, your talents, and your personality. Are these qualities simply fixed traits, carved in stone and that’s that? Or are they things you can cultivate throughout your life?”

A mindset is a way of thinking or a set belief how you handle life, circumstance and make decisions.  You have been trained to face problems positive or negative. It’s a mindset that been established in your early childhood development from association, (people), environment (home, school, neighborhood, city and culture) and teaching (religious, racism, relationship, marriage and etc.). Your mind has been shaped and wired to make decisions based on the blue print in your mind. Learned behavior has taught you to copy and duplicate the examples that was demonstrated to you as a child. It may be in a healthy way or unhealthy. Carol Dweck, professor of Psychology at Stanford University under a subtitle What is Mindset states “A mental attitude that determines how you will interpret and respond to situations.”

You can change your life by changing the blue print in your mind and it all start with words. Words create a mental picture in your mind which becomes and image. Image than rewires the brain to start working to bring that image to pass.     

  Resources for drugs and alcohol abuse:

Alcoholics Anonymous attend AA meeting you can contact them or find a local AA meeting website http://www.aa.org/pages/en_US/index or by phone at (212) 870-3400.

National 1-800 Crisis Hotlines – 24 Hour Alcohol & Drug ...contact information website www.allaboutcounseling.com/crisis_hotlines.htm phone 1-877-564-7435.

Find a local detox, drugs and alcohol center there are one near you.

Support Groups

Join a local church that will support you in your change.

Surround yourself with family and friends that will support you in your change and hold you accountable.

Seek a mentor or life coach that will help you through the process.                                   

Breaking Bad Habits part 2

Addictive behaviors are habits that have become second nature. You go about your daily routine without giving these behaviors a second thought. If you have become obsessive with alcohol, sex, drugs, food, or any device you feel like you have to have every day to cope with life pressures it’s an addictive behavior.

In an article by Elizabeth Hartney, PhD The Difference Between an Addiction and a Compulsion “Addiction is a broad term, which is used to describe an entire process by which people (or animals) become dependent on a particular substance or behavior in order to cope with life. This dependence becomes so important to the individual that they will persist in using the substance, or engaging in the behavior, even when it is harmful to themself, their family, and other important areas of their life.”

Many people feed their addictions by focusing on past hurts and traumatic experiences. Experiences like; rape, a loss of a child or loved one, cheating spouse, abuse and molestation, loss of income or position, bad relationships, lack of a father or mother, all these can have a great emotional and psychological effect. Addiction has become a way to mask the pain. They have mental pictures of these terrible bad experiences in their mind. They have a mental record player playing in their mind and they keep hearing it over and over. The thoughts are as painful as the past event.

Hartney also states, “In contrast, compulsion is a quite narrow term, which is used to describe the intense urge to do something. Compulsions are a small but important part of the addictive process, and are also a major part of obsessive-compulsive disorder.”

When you are addicted to substances your body becomes depended on it. It craves for it. You are controlled by it. Addictions start by thoughts than become compulsive urges. You have a strong desire for alcohol or drugs. Many addictions start out as having fun, peer pressure or trying to cope.

Learned behaviors, generational curses and personality pathologies are terms used to define how some behaviors are passed down from generations. From Wikipedia, “Personality pathology refers to enduring patterns of cognition, emotion, and behavior that negatively affect a person's adaptation. In psychiatry and clinical psychology, it is characterized by adaptive inflexibility, vicious cycles of maladaptive behavior, and emotional instability under stress.” Generational curse is a biblical term which means behaviors and spiritual sins are passed down from one generation to the next. Learned behaviors are learning and modeling the behavior of your parents, siblings, or someone in your early childhood development. Behaviors good or bad can be learned and copied.

You can break the cycle of bad habits and addictions. In part 3 of breaking bad habits I will share with you some tips to help you get free.

Breaking Bad Habits

Good Positive Habits

Create new good positive habits to eliminate the bad habits. Habits are caused by a way of thinking which have created a pattern or blue-print in your mind. That pattern has governed the way you make decisions. A habit is a continuous act that you do over and over again. Now that habit is the driving force in your life and if you wish to break free from bad habits you have to create positive habits. For example, if you focus on eating healthy and exercising it will start a life style change and as you continue this new way of thinking it will replace the old habits. How do you break addictions? By changing the thought patterns in your mind you can change any part of your life. Retrain. Renew. Rethink. You can be transformed by changing the way you think. Change your thinking and change your life.