What is a Virtual Millionaire?

Let's begin this lesson with a definition of the term Virtual Millionaire. This is an expression, known to the CPAs, but unknown to the general public. Why? It's because the bank does not want you to know. Here is why...

Virtual Millionaire - An individual that has zero debt and a passive or near passive income of at least 60,000 a year.

For example, if you had $2,000,000 in the bank earning 6% interest, you would have $120,000 of yearly income. This income is known as PASSIVE income. It is called passive because you weren't active I the production of this income. In other words, you did not work to get it. Yes, you worked to save the $2,000,000, but the income from the $2,000,000 keeps coming in without work.

A person with $2,000,000 in the bank could spend 6 months traveling the world and they would still make $120,000 each and every year and still have their $2,000,000 in the bank.

Before developing this further, there is one other critical point to make. Most folks have ZERO concepts of millionaire and their lifestyles. If you were a retired multimillionaires with $2,000,000 in the bank and this money was your entire life savings, would you spend your $120,000 yearly income and ALSO spend part of the $2,000,000?

If you are like most folks, you might have the conception that millionaires that spend money hand over first as if there no limit to how much they could spend!

The person with the $2,000,000 in the bank knows that if they spend more than their $120,000 income, next year they won't have $2,000,000 to produce an income for future years. It will be less. Guess what? If they don't have $2,000,000 to produce income, then they will no longer have the $120,000 in income, unless the interest rate goes up.

For some time, I tried to get my mind around this while concept of wealth as it relate to quality of life. I have determined, without question, that it isn't having an immerse amount of money to throw away that provides a high quality of life. It is known that you would always have a very good income and that you could virtually anything you would ever want to do with your time and your life that produces the very highest quality of life (This doesn't take into account spiritual or health issues.

My friends, that is true wealth, or as a mentioned in the introduction, this is Financial Wellness. In my previous experience with my wealthy clients, I didn't appreciate the fact that multimillionaires, for the most part, don't spend all that much money in a year. Their FREEDOM come and go almost at will has a near- magical impact on quality of life. That's really living Well.

Based on my observations and experiences of working with the wealthy, I made a decision to focus my business in a different direction. I decide that I would pursue the creation of passive. INCOME, not the Creation of wealth or Assets.

You see, if you can produce $60,000 in a year in dependable passive income, this would be the equivalent of having $1,000,000 in the bank at 6%.

I determined that it would be much easier to create the lifestyle of a millionaire by focusing on creating income. So, I have done my best to become an expert in this very different way of thinking about the financial independence.

There are four ways to achieve financial independence. There is the traditional way, which is to work and save in a attempt to accumulate assets that will one day take care of your income needs. Some inherit it from someone else. A handful will win the lottery. And, finally the Virtual millionaire or income approach.

I want to suggest to you that the Virtual millionaire approach is not only far easier, but much more enjoyable in the process.

Consider this for a moment. If you are going to stay in the traditional way of thinking about financial independence, recognize that as folks work and save, they far too frequently deprive themselves of enjoying their life NOW.

I have seen folks so obsessed with saving money for some future unknown use that they become slaves to the future and have virtually no life, here and now. However the vast majority of people can't save. They go deeply in debt and the high cost of interest makes it almost impossible for them to dig out of debt in order to finally begin a savings and investment program.

I want to suggest that for many of you it is far better to hire yourself and invest in your own company instead of buying stock in someone else's company. Instead of trying save and invest to grow assets that you can some day live off, build your own business to produce an income that you can live off NOW and later.

My contention is that it is far easier to become a virtual millionaire than it is to achieve financial independence the traditional way. When you make a serious effort, you can achieve the extremely fast. By fast I mean a few years.

The virtual millionaire advantages are many. At the end of one year you won't need any encouragement to continue. You will be so excited that you will be unstoppable.

In summary, I want to encourage you to concentrate on becoming a virtual millionaire. It is far easier to produce the income of a millionaire than it is to create the assets of a millionaire. Remember… millionaires DON'T spend their assets, they spend their income. It is the income that provides that quality of life.

I want you to think what your life would be like if you were totally debt free and you have at least $60,000 a year coming in year after year. You would be amazed at how much more joy you would have in your life.

The exciting thing is that there is nothing to stop you from working as hard as you choose to continually grow your income. With my approach, you still get to enjoy your life NOW while also preparing for early retirement.

Just for the record, if you develop your own business to the point that it is providing with a dependable $60,000 annual income then YOU ARE ALSO AN ASSET MILLIONAIRE.

The reason that is true is that, in the world of accounting, you don't just place values on things; you also place value on stream of dollars.

This is exactly what annuities are all about. Every day millions of dollars are given to annuity companies in exchange for an income for life. These people purposely save their savings for an income the they can't outlive.

The virtual millionaire approach places all the emphasis on creating a Business Annuity. Let your business produce the income stream you will need for debt elimination and for early retirement. When you do you will join the ranks of those who have achieved true financial wellness.

Article written by Roy Chan
Certified Financial Planner and Business Consultant
Get wealth building advice at: http://www.wealthyhub.com
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ACHIEVING SUCCESS BY EXPECTING SUCCESS

ACHIEVING SUCCESS BY EXPECTING SUCCESS - Zig Ziglar

When you plan and prepare carefully, you can legitimately expect to have success in your efforts.

When you recognize and develop the winning qualities that you were born with, the winner you were born to be emerges.

When you plan and prepare to make a sale, for example, you can legitimately expect to make a sale.

Although not all your expectations are going to come to pass, you give yourself an infinitely better chance of succeeding by taking the proper steps.

Regardless of your goal--losing weight, making more sales, furthering your education, earning a promotion, saving money for a new home or an exotic vacation--you can expect to achieve your goal if you plan and prepare for it.

Also understand that the path from where you are to where you want to be is not always smooth and straight. The reason for the twists and bumps is simple, and it has nothing to do with you. It has more to do with the fact that not everyone is as interested in your success as you are. Some people may accidentally hinder your efforts; others who are in competition with you and have little or no integrity may try to sabotage your efforts.

Keep in mind, though, that when you hit those roadblocks your character, commitment, and attitude are the determining factors in your success.

Carefully review your plan of action, seek wise counsel, and be particularly careful to feed your mind good information. An optimistic, positive mind is far more likely to come up with creative solutions than a mind that dwells on setbacks and difficulties.

Bottom line: expect success and you can achieve it!

Here's how to have more with less...

The idea of making *more* money is appealing to *most* everyone.

For the person who doesn't make much, *more* is a necessity.

To the person that does OK, *more* helps them get ahead, and for the rare person that has a bunch, they are always looking for a way to make a bunch *more.*

So when it comes to actually taking action to create more, I believe that less is more.

I used to think the only way to increase my income was to work more hours, more paperwork, more commitments, borrow more money, lose more sleep, and ultimately take more risk.

Then I realized that *less* is indeed *more.*

Owning and operating your own business presents a legitimate method to make more money, but without the headaches and hassles. The ease and convenience of the Internet has created an opportunity anyone can enjoy success with.

However, the choice is ultimately yours.

More or less?

Here's a great place to start:
Follow Our Lead

Break Free from the rat race

It's true.

Home businesses are altering the lives of hundreds of people --- for life. I believe you deserve to know more about how the same can occur for you.

It's been my experience that most people don't live the life they want to live because they haven't got the time, or they haven't got the money. Whether they're scratching out a living or earning a substantial income that eats up too much time, people are struggling all over the world. It's because they've never learned how to earn real money. No one's ever taught them.

Earning money really isn't about earning money at all!

It's about breaking out of a programmed cycle first; it's about freeing yourself from misconceptions, misperceptions, old belief systems and plain old trash you have in your head about accumulating and possessing financial abundance.

When people aren't enjoying the abundance they think they deserve, they usually blame outside circumstances. Granted, it may have been the circumstance that put you there initially, but it's your mind that locked down the chains.

The fact is, most of us are trapped. And somebody's got to break the cycle. Whether we're talking about the third world and someone who's earning $60 a month, or we're talking about America where somebody's stuck in a $30,000 job or a $150,000 job ... they're all trapped just the same.

People who live in abundance have simple, multiple sources of income that require very little time or capital and can be put in place easily outside of their primary job.

There are really just Three Steps to a better life:

1. Mindset first.
2. A Network of like-minded people supporting you.
3. And Multiple Sources of Income.

All the people you seek, all the resources you lack, all the framework you're missing .. it's all right here.

Napoleon Hill once said, "Successful people make decisions quickly and change them, if at all, very slowly."

Override your urge to put this off. We're not just about making a lot of money --- it's about breaking the cycle .. for life.

http://justfollowourlead.com/retirequickly


Every millionaire and billionaire will tell you --- as your network grows, your net worth explodes. But only if you're associating with the right people. The truth is, it really doesn't take that much to achieve your dreams. It's not about effort, it's about the environment you create around you.

Just 3% of the world's people control 97% of the resources. Over the last 100 years, and despite wars, coups, depressions and recessions, that 3% has remained --- and will continue to remain --- constant.

In your lifetime, this statistic will not change. But you can change your position in life in relation to that third percentile. You have the choice: Either travel with the rest of the crowd --- the 97% who just make it by in life, or participate with like-minded people in the quest for financial and time freedom.

http://justfollowourlead.com/retirequickly

As I'm looking out the window of my home office today I'm thankful for the 10 second commute I have from my bedroom to my home office and the traffic jam tripping over my dogs in the hallway.

You too can begin to enjoy the many benefits provided by a home business if you'll only change your mindset, get involved with the right people, and build for yourself another source of income.

21 Pearls of Wisdom

Re: "21 Pearls of Wisdom" by Mitch Axelrod
www.axelrodlearning.com

1. Don't worry about improving your image. Improve your substance. The world is starved for substance. Most people are working on image. Few work to improve substance. Those who do will stand head and shoulders above the rest.

2. Fail fast. Drop losing projects immediately. After trying to find a solution to a marketing problem that simply didn't exist, Gary Halbert wrote three words on the white board that most of us were thinking in our heads: DROP THIS PROJECT! It's not easy to let go of things we're emotionally attached to, but it's necessary to move on.

3. Most people are self-absorbed. Appeal to their selfish side. Forget your point of view. It doesn't matter. If you want to sell Johnny Jones what Johnny Jones buys you MUST see Johnny Jones through Johnny Jones eyes. What does he want more than anything?

4. If I found the cure for AIDS, everyone would get it. How much money I make would not be an issue. When you discover something important enough, the goal is to make sure everyone who wants or needs it can get it. Shift attention from how much can you make to how many people can you help. The money will come.

5. NOTHING is risk-free. LIFE is not risk-free. You're a heartbeat away from a Christopher Reeve moment. If you can't accept risk, you are living on the wrong planet. What risk can you take that might alter the quality of life as you know it?

6. Hire experts. Don't try to do everything yourself. Especially when it comes to the most important parts, including copyrighting and crafting your sales message. Don't spend a fortune on the unimportant things, then economize on the pivotal items. Know when to bring in the experts.

7. Outspend the other guys. Many businesses do thing on the cheap. Shoestringing and bootstrapping are successful strategies when money is tight. When money is there, spend it. A business campaign can rise or fall based on the money behind it. Don't hesitate to invest money, especially on the important things. If you don't have it, find someone who does and share the bounty. 100% of nothing is still nothing!

8. You don't want to sell just one million books (widgets, etc.). You want anyone who wants what you have to be able to buy it. Don't set arbitrary limits. Find a way for everyone who wants what you have to get it. It will enrich you in the process.

9. Don't become a student of products. Become a student of markets. Know your markets better than you know your products. If you fall in love with your product, it will blind you to reality. Fall in love with markets. If there isn't a market, reconsider or drop the product. Use the SRDS, the Standard Rates and Data Service directory to find your buyers (www.srds.com). It's not a cheap resource, but it's vital if you plan to reach a pool of hungry fish.

10. Don't do LMS. "lesser mortal shit" (a Halbertism). Delegate everything except your highest value work. If you run out of highest value work, do the next most valuable work. Don't do $10/hour work or you won't ever reach your highest and best value.

11. Two things will get a person's attention and interest: showmanship, and the reason why. To get the attention of the person you're after, a little theatre will go a long way. Be creative. If you've got 20 centers of influence, don't send a letter. Send a courier. Gain their interest is with a powerful reason why. Why would they, why SHOULD they give you their time and attention? What's the most compelling "reason why" you can give that satisfies their self-interest? If you don't know, ask your buyers.

12. Understand the Triangle of Marketing. #3 is the copy, #2 is the message, and #1 is the audience. Make sure you have the right/best/hungriest/rabid audience, or your message and copy won't ever get seen, heard or read. A mediocre message to a great audience will always do better than a great message to a mediocre audience. Know your audience, hone your message, and don't scrimp on copy. Like an interesting story, good copy gets read.

13. Don't care about what ANYONE thinks. How often do we hesitate and delay because of what others might think? We thwart our success and happiness worrying about what other people think. We don't regret the shots we do take, even when they don't work out. We regret most of the shots we don't take. Do what your heart desires. Don't worry about what others think.

14. Tell your story. A powerful story creates an emotional link. I call this the E-Link. John Carlton, one of the world's highest paid copywriters, says personality is missing in most marketing messages. He suggests we "pinch them in the butt" and tap the passionate sweet spot. Tell a story. Connect it to what the person can DO (results, accomplishments), and how the person will FEEL (the strongest E-Link). What story can/will you tell?

15. Greedy people lead lives that suck. Enough said.

16. Gun to the head thinking can get you out of a jam or tough time. If someone had a gun to your head, and to save your life you had to craft the best message you could, what would you say?

17. There's too much bad news. We can't hear the voices of light. Cats find the sun spots. They seek the patches of light. How can you be a source of light?

18. Speak. "from down below." If you want your cred-ability to soar, don't speak from your mouth; speak from your pelvis. Imagine your entire chest cavity as one big voice box. Speak "from down below". and you will create a stronger, more powerful presence. (Thank you, Burt Dubin for this little known sage advice used by opera singers to get
the most from their precious instrument).

19. You're NOT in the marketing business. You're in the ARITHMETIC business. If your arithmetic doesn't add up, you won't have a business for very long. Start counting.

20. You want to sell your products and services to "addicts" - profound, irrational, passionate, rabid, insane people who buy frequently and spend a lot. That's your IDEAL buyer. Where are they? How can you reach them? What will you say to them?

21. 10,000 hours. that's how long it takes to become really good at something. That's 2,000 hours per year for five years. It can take doctors and other professionals twice that long (10 years), and most self-made millionaires take four times that long (that's right, 20 years is the average time it takes for self-made millionaires to achieve "overnight" success). You can't invest a few hours in something and expect to become an expert. There are many self-proclaimed "pseudo-gurus" who emerge after one or two successes and claim expert status. Experts hone their chops over time. What's your expertise? Hone it, refine it and continuously improve it.


And always remember...

Success belongs to the relentless,

Vic Bilson
http://www.followvicslead.com


Remember... MA = MR
(Massive Action equals Massive Results)


"When you discipline yourself to do the things you need to
do when you need to do them, the day is going to come
when you can do the things you want to do when you want
to do them." -- Zig Ziglar