Archive for the “Income” category

9 Things Rich People Do Differently Every Day

010th Sep 2014Canadians, Home Based Business, Income, Money

1. Rich people always keep their goals in sight.
“I focus on my goals every day.”
Rich people who agree: 62%
Poor people who agree: 6%

Not only do wealthy people set annual and monthly goals, but 67% of them put those goals in writing. “It blew me away,” says Corley. “I thought a goal was a broad objective, but the wealthy said a wish is not a goal.” A goal is only a goal, he says, if it has two things: It’s achievable, and there’s a physical action you can take to pursue it.

2. And they know what needs to be done today.
“I maintain a daily to-do list.”
Rich people who agree: 81%
Poor people who agree: 19%

Not only do the wealthy keep to-do lists, but 67% of them complete 70% or more of those listed tasks each day.

3. They don’t watch TV.
“I watch TV one hour or less per day.”
Rich people who agree: 67%
Poor people who agree: 23%

Similarly, only 6% of the wealthy watch reality shows, compared to 78% of the poor. “The common variable among the wealthy is how they make productive use of their time,” explains Corley. “They wealthy are not avoiding watching TV because they have some superior human discipline or willpower. They just don’t think about watching much TV because they are engaged in some other habitual daily behavior — reading.”

4. They read … but not for fun.
“I love reading.”
Rich people who agree: 86%
Poor people who agree: 26%

Sure, rich people love reading, but they favor nonfiction — in particular, self-improvement books. “The rich are voracious readers on how to improve themselves,” says Corley. In fact, 88% of them read for self-improvement for 30 minutes each day, compared to 2% of poor people.

5. Plus, they’re big into audio books.
“I listen to audio books during the commute to work.”
Rich people who agree: 63%
Poor people who agree: 5%

Even if you aren’t into audiobooks, you can make the most of your commute with any of these commute-friendly self-improvement activities.

6. They make a point of going above and beyond at the office.
“I do more than my job requires.”
Rich people who agree: 81%
Poor people who agree: 17%

It’s worth noting that while 86% of rich people (compared to 43% of poor) work an average of 50 or more hours a week, only 6% of the wealthy people surveyed found themselves unhappy because of work.

7. They aren’t hoping to win the jackpot.
“I play the lottery regularly.”
Rich people who agree: 6%
Poor people who agree: 77%

That’s not to say that the wealthy are always playing it safe with their money. “Most of these people were business owners who put their own money on the table and took financial risks,” explains Corley. “People like this aren’t afraid to take risks.”

8. They watch their waistline.
“I count calories every day.”
Rich people who agree: 57%
Poor people who agree: 5%

Wealthy people value their health, says Corley. “One of the individuals in my study was about 68 and worth about $78 million. I asked why he didn’t retire, and he looked at me like I was from Mars. He said, ‘I’ve spent the last 45 years exercising every single day and watching what I eat because I knew the end of my career would be my biggest earning years.’ If he can extend his career four to five years beyond everyone else, that’s about $7 million for him.”

9. And they take care of their smiles.
“I floss every day.”
Rich people who agree: 62%
Poor people who agree: 16%

Enough said.

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This article originally appeared at Entrepreneur . Copyright 2014.

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Success doesn’t always come easy, it requires hard work and dedication, but the great part about working your own business is that there’s no ceiling for success and your business can offer you time freedom that no other business can.

Why You Can’t Rely On A Salary To Get Rich

18th Jul 2014Home Based Business, Income, Retirement, Savings, Self Employed, Success, Work from home

I’ll answer this with the same advice I’ve given my kids. First off, forget about your bachelor’s in computer science. I did that and then went to grad school for CS. Worthless.

The only way to make real wealth is to get rid of your salary. In a salary, by definition, you are creating wealth for others and you are creating a chain and handcuffs for yourself.

Some people like that but it’s not the way to make $250,000 a year or whatever you want to make (why’d you pick $250,000?).

I’m on the board of a billion revs employment agency. I can tell you the facts: Income is going down relative to inflation for 40 years in a row. And the entire middle class is getting fired. I don’t mean this in a scary way. It’s just the facts right now. Maybe it will change. I hope so, but I doubt it.

I’m not even suggesting go out and start a company. Running a company is a lot of painful work. Employees have sex with each other, clients want bribes, and programs don’t work at demos.

More than half the unemployed have college degrees (another comment: “College is not just about the money.” And my response: “Then don’t let your kids get $100,000 in debt just so they can read books for a few years.”)

I wanted to find someone who was neither an entrepreneur in the traditional sense nor an employee somewhere.

I kept seeing this guy Steve Scott on Amazon. His books kept beating my books on Amazon’s lists. How could “23 Anti-Procrastination Habits” rank higher than “Choose Yourself!”

Other books would be: “70 Healthy Habits” or “How to Start a Successful Blog in One Hour.”

And every few weeks there would be another book. First I noticed it under Steve Scott. But then, with a completely different picture, I noticed the same style of books coming up under SJ Scott.

He was like a machine of books. “.99 is the New Free,” “Declutter Your Inbox,” and on and on.

So I called him. I didn’t know him. I didn’t have any friends who knew him. I think he lives in the middle of Ohio.

I wanted to know what the hell he was doing. I wanted my kids to do it so they would never have to have the worries and anxieties that I had all through my 20s and 30s.

He came on my podcast “The James Altucher Show” (I’m not trying to get you to listen to it. I’m going to tell you everything he said here).

He told me just two years ago he was dead broke and trying to figure out what to do. He had basically zero in the bank and was making no money.

“Last month I made over $40,000,” he told me. He’s written 42 books in the past two years. He now writes a book every three weeks.

“Can anyone do this?” I asked him.

And he said, “yes,” and we made a podcast out of it because I wanted everyone to hear his detailed answers. You can listen for free on iTunes or Stitcher (for Android phones).

He basically writes 2,000 words a day. In the front of each book he has various things he gives away for free if people sign up for his email list.

“Take a concept you’re interested in,” he told me, ” and break it up into a lot of parts and write a book about each part.

“For instance, if you are interested in golf, write a book about how to get the right equipment, write a book about how to improve your swing in 10 easy steps, write a book, “Learn to Putt 100% Better in 60 Minutes,” and so on.

Each book gets him more email subscribers. More email subscribers get him more book sales. And so on.

Did he study writing or marketing in college? You decide: He majored in criminal psychology at Montclair State University.

It took two years to build up, but now he is a marketing and entrepreneurial machine — even though he has never done anything like this before.

He has no boss. He enjoys his free time. He makes more money than 95% of the CEOs in the corporate world. If I were graduating with my CS degree this is what I would do right now instead of what I did do.

I asked him why he was being so transparent. Why he was telling me EVERYTHING. “Can’t anyone just copy what you do?”

“Sure,” he says. “But I work really hard.”

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This article originally appeared at Quora. Copyright 2014. Follow Quora on Twitter.

Original Source: QUORA
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Success doesn’t always come easy it requires hard work and dedication, but the great part about working your own business is that there’s no ceiling for success and your business can offer you time freedom that no other business can. So learn these home business tactics and put them into action, there’s nothing to hold you back from creating and operating a wildly successful home business today.

Are You a Rainmaker? Would You Like To Be a Rainmaker?

4th Jul 2014Home Based Business, Income, Internet Marketing, Money, Success

What is a rainmaker?

Wikipedia defines a rainmaker as “a person who brings in new business and wins new accounts almost by magic, since it is often not readily apparent how this new business activity is caused. It means generating substantial new business or additional cash flow from sources sometimes outside established business channels, sometimes by connecting with people in non-traditional or hidden markets, and sometimes by prompting current clients to spend more money. A rainmaker is usually a key figure in the business or organization, not merely a salesperson, but a principal or executive who is usually highly regarded within the enterprise.”

So, are you a rainmaker? Do you create new business as if by magic?

The truth is, there is no magic involved. Creating new business is the product of focus, hard work, dedication and persistence.

If you want to create more traffic to your web sites and have the desire to be a rainmaker in the Internet Marketing space, contact me today so I can help you get started in my team

 

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126th Jan 2013Freedom, Home Based Business, Income, Internet Marketing, Online Income, Self Employed, Success, Work from home, , , ,

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Moving Abroad an Option for Retiring Canadians

015th Jan 2013Business News, Canadians, Income, Real Estate, Retirement, Savings, Self Employed, Taxation, Taxes, Work from home, , , , , , , , , , ,

Dwindling pension benefits are forcing many Canadians to rethink how they’ll spend their golden years, but that doesn’t necessarily mean giving up their dreams of a sun-soaked retirement.

Some experts say that with proper planning, uprooting to an exotic locale can actually help cash-strapped seniors stretch their retirement dollars.

Aside from milder temperatures, they say many of the destinations favoured by Canadians — including parts of Mexico, Panama and Costa Rica — offer another advantage prized by those on a fixed income: a lower cost of living.

“It’s sometimes assumed that an international retirement vision or lifestyle is something that wealthy people pursue,” said Rod Burylo, a Calgary-based financial advisor specializing in international retirement.

“The reality is… some people retire to Mexico because it’s so darn cheap,” he said.

“One could reason, therefore, that if the economy suffered and their finances suffered, they may be more inclined to retire to Mexico because… they could have a better quality of life than they could have here.”

Many Canadians are having to make tough financial choices — including prolonging their careers or downsizing their homes — in preparing for retirement as debt-ridden governments and companies scale back benefits.

While financial considerations alone are rarely enough to prompt a drastic change of scenery, they often play an important role in the decision-making process, according to a recent survey by the BMO Retirement Institute.

The survey by one of Canada’s largest banks found more than 70 per cent of Canadians aged 45 or older have given thought to where they want to live out their golden years.

But it also found that while many fantasize about retreating to faraway lands, just over 10 per cent of respondents said they were willing to follow through and leave Canadian soil.

“I think you get people moving abroad for two reasons,” said Brian Burlacoff, a financial advisor with Sun Life Financial.

“You get a proportion of people who do want to spend time very purposely outside of Canada — snowbirds, for example, in Florida or Arizona — (and) they have a plan for that,” he said.

“But the other group that you get moving away are people that have no plan and they’re kind of drawing at straws because they have to find a place that’s less expensive to live in order to carry out their retirement objectives.”

That kind of “reactive” move, he said, is similar to trading a downtown Toronto lifestyle for a more affordable one in a neighbouring suburb.

But unlike a simple hop across municipal borders, crossing national boundaries can have serious tax and health care implications, he warned.

And even regions where the average day-to-day costs are low can drain the savings of those without a clear budget plan, he said.

A guidebook published by the Department of Foreign Affairs lays out the potential pitfalls for those looking to retire abroad, from the loss of Canadian citizenship or residency — and the resulting loss of health coverage — to the intricacies of foreign tax systems.

“Many developing countries lack the resources to collect taxes on foreign-source income, so they compensate by imposing high consumption taxes or import duties,” the document reads.

“Make sure you take into account all taxes, duties and fees, as well as the withholding taxes you will pay on income originating in Canada.”

Burlacoff and Burylo both recommend consulting an advisor who understands the specific challenges involved, and keeping in touch throughout the preparations and after the move.

At 61, Kerry Strayton believes he’s still up to a decade away from retirement, but that hasn’t stopped the Richmond, B.C., resident from getting a head start on his plans to retire abroad.

He’s already “actively researching” possible destinations for him and his wife, such as Colombia, Uruguay and Thailand — places with a pleasant climate and a thriving cultural scene, that he says are accessible enough that their son and daughter will be able to visit.

Moving seems like a necessity for the couple, whom Strayton says will have to live off their savings and his wife’s “small, very modest” pension given that his employer doesn’t offer a pension plan of its own.

He estimates it would cost roughly $1,500 a month in one of his chosen destinations to keep the same standard of living that would cost $2,500 in Richmond.

“To be honest, living in this part of the country in particular, which is very, very expensive, it’s hard to see how we would manage to have at least some kind of reasonable lifestyle,” he said.

Many unknowns remain: for one thing, the couple hasn’t decided whether to make a permanent move or take the more popular snowbird route.

But with several more years of squirrelling away savings ahead, the pair has some time to figure it out.

And in the meantime, Strayton said, they’ll be checking out the top contenders to see which one could eventually become their new home.

ORIGINAL SOURCE: Retirement Canada: Moving Abroad Still Possible For Canadians With Cash Woes