Your Ezine from URSuccess.net
Sent Tuesday, September 15, 2009
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Dear
Welcome to A DESIGN FOR LIFE issue #2 from URSuccess.net
YOUR MULTIPLE STREAMS OF INCOME
The traditional model of achieving success, i.e. studying hard in
school, specialising and following a career has been espoused and
followed, largely without question for the past 100 years. We are
encouraged by parents, teachers and other well meaning influences
to stay in school and get the best education we can.
This system serves to filter us into colleges, universities and
hopefully well paid careers. We then earn, spend, earn a bit more
and spend a bit more.
After all, don't we deserve a few of life's luxuries? All
that study, the long hours, hard work and delayed gratification? So
that new notebook computer or widescreen TV is more a reward than
an indulgence, more a necessity than a luxury right?
So too cars, we want the best we can afford, it's more cost
effective is it not to finance a new model rather than risk the
associated repair costs of an older one. So it begins the
earn-spend-borrow-repay lifestyle cycle which has ensnared so many
of us in the western world.
Robert Allen, best-selling author, likens it to walking up a down
escalator. You have to keep moving just to keep still and if you
should ever stop, the moving staircase will take you right back to
where you started, i.e. the bottom. Or even worse, the basement.
So how then can we get ahead, switch off the escalator or
ultimately turn it in our direction?
In the short term the answer is to spend less than you earn and
save the difference - not very exciting but this alone will ensure
that every two steps up will result in only one step down. By
paying yourself first and investing relatively small amounts on a
regular basis many people have achieved financial freedom and
reached the top of their personal success escalators. Einstein
considered compound interest as one of the great wonders of the
world.
The Power of 72
In order to determine the time it would take to double your money,
divide the current rate of interest into 72. For example if the
rate you were receiving was 4% it would take compound interest 72/4
or 18 years to double your money. Consider however a much higher
rate of interest such as 24%. At this level it would only take 3
years. Where can I see a rate like this you may be asking, well not
on your savings but how about on your credit cards? Compound
interest works both ways and at these levels you will double your
debt in just 3 years (allowing for minimum repayments etc).
To really turn the tide in your favour you should consider
generating additional or multiple streams of income. Robert Allen -
in his outstanding book 'Multiple Streams of Income' explains 12
simple, proven methods to begin to turn the tide and the escalator
in your favour by breaking down the fastest ways of generating
additional income describing them as four money mountains; starting
your own business, real estate, the stock market and the internet.
One great place to start your climb to success is to cultivate a
success mindset. Read and listen to inspirational materials that
will not only educate but begin to imprint the endless
possibilities upon your subconscious mind. There is more material
on the subject of success today than at any time in our history. So
don't delay, when would now be a good time to get started? And
always remember that it's your attitude that dictates your altitude!
To claim your FREE books and audios from Robert Allen click here
http://www.myewisite.com/000317/default.aspx