When you’re facing choices in your life, it’s important to be very careful who gives you advice. Anyone who has a vested interest in the outcome of your choices will skew their advice and input to suit their own selfish ends. Does your “financial planner” tell you that you need millions in the bank before you can retire, when in reality all you need is for your passive income from Joint Ventures to exceed your cost of living? Why does he tell you that you need millions? Because he wants to get his commission on whatever he sells you, of course.
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Here’s a simple way to retire. If you have more income than you need to live comfortably, and that income is passive (that means you don’t have to continually work in order to generate it) you can retire. Here are the steps to generate that income. Realize, first, that “You gotta be specific to be terrific!” You need to know exactly how much you need per month. That’s a very important step. Next, you have to find at least ten sources of that income. Why so many? So that you don’t have all your proverbial eggs nestling quietly in one basket. In today volatile world, where things are constantly changing, we need to spread our risk so that we can survive the dropping, bombing and stealing of baskets.
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When I was in the army in 1971, I heard a very interesting story about two men who were sworn enemies from childhood. They hated one another with a deep passion and their nightmares became a reality when they were conscripted into the South African Army. Not because they were conscripted - we were all conscripted – but because they ended up in the same platoon, sharing the same bungalow! They fought almost daily and this was a drain on their fellow soldiers during bootcamp.
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I wish everyone wore one of those Italian charm bracelets that enable you to choose the charms and simply clip them on. When I was sitting next to one of our Joint Venture Forum Members and reading her charm bracelet in Toronto the other day, I saw Mother Mary and “I Love Polar Bears”, so I asked her about her faith and the significance of the polar bear on her charm bracelet. A very interesting conversation ensued, in which I got to know her at a deeper level. When I got to the airport to fly home, I went to a booth selling these charm bracelets and bought a bunch for my daughter. It was interesting deciding which charms to buy her, (it took me a full hour) and also very interesting to see what charms are available, including “I Hate Men”, “Support Our Troops”, “Las Vegas”, “Daddy’s Girl”, “I Love My Man” (Note – not one reference to ‘Husband’), “Quilting”, pictures of dogs and cats, birthstones, cartoons, colleges, flags, music… you name it!
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How to Get Out of a Slump |
We’ve all experienced a business slump – it could be a seasonal thing, or a real business producer left your employ, or the market changed. Whatever the reason, you’re in a slump. Sales are down, people are scared, jobs are at risk, and cashflow is choking you. When that happens, people often allow their emotions to cloud their perspective. They make mental pictures of outcomes they fear. Molehills become mountains in their minds. They start to overreact, blame, complain, and point fingers. They forget that things don’t stay the same and that difficulties are what make business so much fun. Imagine playing a game of squash with a weak opponent – how satisfying is that win?
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If You Want Peace, Prepare for War |
What separates the truly great from the mediocre, the winners from the losers, the pretenders from the contenders? What is it that spurs certain people on to magnificent achievements while others choke bitterly in their dust? There’s an old and true, military motto, “Si vis pacem, para bellum” from Flavius Vegetius Renatus circa 375 AD: “If you want peace, prepare for war.” When you want something badly enough, you will fight for it. It’s the old, “Live free or die” kind of approach. Watch what people do and you will see their true level of commitment.
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