Decisions & Wealth Building

 

Learn why the decisions that you make throughout your life can help you achieve your wealth building goals more efficiently…

 

In the current environment it is important that you reflect on your ability to make the best or most optimal decision at the various stages of your life.

 

On this father’s day 2020  the creator of TheWealthIncreaser.com reflected back on the importance of making good decisions so that you can achieve more in the current economy.

 

The decisions that you made in your past (for the most part) have directed you to where you are now at.  However it is important that you now focus on your future and the decisions that “you can now make at this time” that can lead to you achieving what you desire  as you build wealth.

 

By making the decision to take the following 3 steps and acting on making those steps happen at a level that is the best that is within you—you can start on a sincere journey toward making your dreams come true.

 

It is important that you decide to see exactly where you stand financially at this time so that you can use the financial data to make better decisions for your future moves as it relates to your finances.

 

You must decide at this time to get a real handle on your monthly inflow and outflow of cash, know what you own and what you owe and know what you make and spend annually.

 

It is important that you have the mindset that you will manage your finances in a manner that puts you in control–not creditors or others who have no concern for your future outlook!

 

If you at this time have great credit (740 or higher credit score) you are to be commended.  However, it is important that you make the decision to continue to manage your credit effectively.  And for those who do not have great credit at this time, it is important that you decide at this time to manage your credit more wisely.

 

You can do so by understanding the 5 credit factors and gaining the knowledge of how you can make the “5 credit factors” work for you and your family in a more rewarding and beneficial way–starting today!

 

By utilizing the “5 credit factors” that you now have the opportunity to master you can put yourself in position to do what you need to do–to make your wealth building dreams come true.

 

For those of you who have a net worth that allows you to navigate through life without utilizing credit–you too are to be commended.

 

However, you too must make the decision to manage your cash flow at an optimal level.

 

It is important that you have a mental picture of all areas in your financial life that you need to address.

 

You must take an accurate and analytical look at your insurance needs, your investment concerns, your current tax position, your emergency fund position, your education funding needs, your estate planning/wills and your retirement planning concerns.

 

By doing so you put yourself in a better position to make decisions that are good for you and your family and you greatly enhance the possibility and probability of achieving your wealth building goals.

 

Conclusion

 

By deciding to take decisive action and leaving all excuses behind, you position yourself and your family for a more prosperous future–inside of your mind.

 

You must realize that it is your responsibility to “decide right now” to achieve at your highest level of excellence while you are here on planet earth–and it is your responsibility to know your self-worth.

 

Why live your life on a daily basis with worry, anxiety, fear and a lack of direction on the inside of you when you can make the decision to choose a better path toward making your dreams come true?

 

By doing so you open up new possibilities for not only yourself, but also future generations as well.

 

All the best to your decision to achieve at a level that will lead you to a higher level of success…

 

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Patience & Wealth Building

Learn why you must have patience as you build wealth…

 

It is important that you have patience as you build wealth as in many areas of wealth building time is involved.

 

In this discussion TheWealthIncreaser.com will discuss ways that you can use patience and a plan of action to achieve your wealth building goals.

 

1) Have a comprehensive overview of your finances…

Prior to selecting the financial professionals that you need to help you achieve optimally you must know where you want to go.

 

It is important that you realize that there are things that you don’t know—that you don’t know that you don’t know and that applies to all of us.

 

Your lack of knowledge can be very detrimental to your future wealth building efforts if you don’t have a mental construct of what you need to know.

 

Therefore you must know at this time that you must know your inflow and outflow of cash on a monthly basis along with the knowledge of your net worth so that you can gain a better picture of where you can go.

 

You must also have mastery of how credit works and finally you must know all areas of your finances that you must address.

 

Patience will be required of you, however by visiting this site you now have a concise blueprint of what you need to do.

 

2) Choose the right financial professionals

 

It is important that you choose highly competent financial professionals to work with.

 

Although turnkey tax programs, franchise tax preparation companies, discount brokerages and robo advisors are in abundance everywhere, that does not mean they are your best choice.

 

You must have the patience to interview the financial professionals that you need to help you achieve your wealth building goals and not seek the quick way out as the quick way out can put you in a worse position for building wealth in many cases.

 

Take the time out of your busy schedule to interview and ultimately work with financial professionals that you are comfortable working with that has the competence and track record that you need to succeed!

 

3) Realize that patience is required to reach your goals…

Since you now have a more complete picture of what you need to do in your financial life and you have selected or chose financial professionals that you are comfortable with and are sincerely working in your best interest, you must realize that reaching your educational, goals, tax goals, investment goals, estate goals and retirement goals will require that you have patience as you must allow your investments the opportunity to grow.

 

Conclusion

 

Your wealth building efforts can be achieved, however it is important that you are patient as you must give your money time to grow.

 

You must also have the patience to interview and assess financial professionals that you don’t know and may cause discomfort upon meeting initially but may be a good fit for you and your future goals.

 

Even if you choose to pursue your wealth building success by doing it on your own you must realize the pitfalls and know that there are areas that you make lack the required knowledge in and it is your responsibility to get that knowledge on the front end.

 

You must not have a “blind” mind as it relates to seeing your finances and financial future!  And you must know the steps that you need to take to reach the goals that you desire.

 

By doing so you can reach the goals that you may now feel are outside of your reach and avoid the disappointments that so many have encountered because they were looking at their finances in isolation and they lacked the patience to put together a comprehensive plan  (at the right time) that gave them a real sense of reality of where they could truly go–and put them in the know.

 

All the best to using your patience to achieve lasting success…

 

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Timing & Wealth Building in the COVID-19 Era

 

Learn why the time to do what you need to do financially varies depending on where you are now at in your life stage…

 

In the current economy in many parts of the world many are at a point where they must stay in a confined area for a certain time period and/or must keep a certain distance from others due to the COVID-19 virus.

 

Many are using this time wisely and are looking within in an introspective manner to see what they can possibly do better in their life.

 

It is important that you at this time determine where you are now at financially and otherwise—and make the best or most optimal moves “at this time”  based on your current life stage and financial position.

 

In the following paragraphs you can learn how you can use your time more wisely and achieve at a higher level—at this time—and in your future.

 

Plan in advance for uncertain times…

 

You can use your time more wisely by focusing and planning on what you desire to occur in your future.  Many of those who have frequented this site for years are now in a better position than most to handle the uncertainty and anxiety that is now in the atmosphere.

 

Whether it be financial or otherwise you make the likelihood of future success occurring in your life when you plan for success and particularly when you put your planning in writing.

 

You can use personal financial statements to see where you are now at and use the information that is derived from those statements to see where you can go.

 

You must plan for success by knowing how credit works and using that knowledge to manage your credit in a manner that serves your best interests—not creditors.

 

You must plan, pray and take the right posture on a daily basis if you truly desire to position yourself and your family for lifelong success!

 

It is also important that you have a comprehensive overview of your finances so that you can plan daily in a manner where you can win--consistently.  Even if you now find yourself in an adverse position as a result of COVID-19 or other factors you must always know that you can put rebound mechanisms in place and still achieve your goals throughout your lifetime.

 

Know what you desire in your future…

 

You also want to take time—right now—to do some deep thinking to determine where you really want to take your future.

 

What were you put on earth to do?

 

Use the time that you have now to search your soul and determine if what you are now doing or working toward doing is what you were truly put on earth to do.

 

Or is what you are doing at this time something that you must do—but it serves no real end toward making your dreams come true.

 

Use a calming approach (you slow your mind down and receive the inspiration and dreams that were meant for you) and look within at your life and see if there is a better, more effective way of achieving what you really desire.

 

 Do continuous review in order to make your dreams come true…

 

Once you put your plans into action you must still have the mindset that you will do continuous review and fine tune where necessary.

 

You can achieve many of the goals that you may now feel are out of reach if you take the time now to plan—do and review.

 

By doing so consistently you can achieve at a higher level and fatigue and a feeling of doubt will play no meaningful role in holding you back from achieving your dreams.

 

Conclusion

 

You can at this time choose to get down on yourself and remain where you are now at or move along in life at a snail’s pace—or you can use the time that you have to look within and plan for a better and brighter future.

 

You can better prepare yourself and your family for the perils that lie ahead (both seen and unseen) and position yourself to “weather the storm” in a way where you come out in a good position—or possibly even in a better condition than when you were experiencing the storm–or even before the storm.

 

It is the desire of TheWeaalthIncreaser.com that this discussion has led to “a calming of your thoughts” and a feeling of well-being about your future.  Regardless of where you now stand better days lie ahead and you can use what you have learned in this discussion that you feel is appropriate to move forward–to “your” best advantage!

 

In the age of COVID-19 you must believe and know that you will come out on the other side in a stronger position for success—whether it be financial or otherwise!

 

You must also remember that the time to do what you need to do to make your dreams come true will never be ideal.  You are now alive and visiting this site and you have the opportunity to get your future right–in spite of the disheartening news that you may hear on your radio or hear and see on your phone or  TV tonight.

 

Those who have been utilizing this site for years continue to do so due in large part to the calming effect that it has on their financial life.

 

For those of you who are new to this site it is the desire of TheWealthIncreaser.com  that you continue to visit if you find value in this site so that you too can transform your future to that of true success once and for all—whether it be financial or otherwise.

 

All the best to your success during these difficult times and throughout your lifetime…

 

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Note: TheWealthIncreaser.com is not a Search Engine Optimized site (SEO) but a “Your Mind Optimized site (YMO)” that is intentionally designed for your continuous wealth building success…

 

 

Money Management & Wealth Building

 

Learn if you have the money management skills that you need to achieve financially and build wealth more efficiently in the current economy…

 

In the current economy many are trying to find a better way to manage their finances and achieve their goals more efficiently.

 

Over the past few years TheWealthIncreaser.com has received numerous emails on the subject matter and TheWealthIncreaser.com thought that the time was right to create a page specifically dedicated to that topic.

 

When it comes to money management it is important that you know your money management style as we all have approaches to money management that we pick up during our lifetime.

 

In this discussion TheWealthIncreaser.com will show you effective ways that you can build wealth and manage your finances that will provide you an unwavering path toward the success that you desire.

 

  • Know where you are and where you are headed…

It is important that you determine your current financial position and a personal budget or cash flow statement will get you moving fast on that front.  You must get a real GRIP on your current financial condition and where you want to go at this time.

 

By doing so you will improve your AIM and the direction that you want to go during your lifetime to a higher level and success along with increased wealth  is more likely to occur.

 

  • Know how you will get there…

You must have the income that is needed to take you toward your destination (goals) and if you currently lack the income to move toward the goals that you desire or need to achieve you must:

 

*get more income

*cut expenses

*do a combination of the two

 

It really is just that simple—therefore you must put a plan in place at this time that will allow you to have the “discretionary income” to achieve your goals—regardless of what they may be!

 

  • Know what to do to maintain and build on your success…

Once you start accomplishing your goals you must re-analyze and fine tune your goals on a consistent basis.

 

You want to ensure that you have addressed and continuously improve upon your insurance, investments, taxes, emergency fund, education planning, estate planning/wills and retirement planning so that you can go through the various stages of your life where you have a high level of confidence about what you can do in your future.

 

Conclusion

 

Your money management personality plays a major role in the success that you will have in your future.  By evaluating your money management style at this time you can build wealth more efficiently and increase your net worth on an annual basis.

 

At this time—YOU possess the ability to direct your future and make good choices when it comes to managing your money throughout your lifetime and it is the desire of TheWealthIncreaser.com that you will make good choices and reach all of your goals.

 

All the best toward your money management success…

 

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Wealth Building 101 (Frequently Asked Questions)

 Learn about common wealth building questions that many have asked over a number of years…

 

Wealth building is a lofty goal and you should be commended for seeking new and possibly more rewarding ways of building wealth.

 

In this discussion TheWealthIncreaser.com will present to you a number of questions that have been asked by clients, visitors and others on a number of sites created by the publisher of this site that TheWealthIncreaser.com feel is important for your financial advancement.

 

Be sure to hone in and focus on the questions that are significant to you at this time as you may find a more effective way to meet your goals and advance forward more efficiently.

 

Common Questions

 

Q: What is umbrella insurance and why should I get that type of coverage?

 

A:  An umbrella insurance policy provides additional liability protection for you in addition to the coverage that you would have on your home and auto liability coverage.

 

It is an affordable option to provide additional protection against liability claims that may come your way during your lifetime that could force you to have to sell your assets, downsize, move to another community, lose your liquid assets and further cause undue headaches that could have been avoided–for in many cases “several hundred dollars” per year.

 

Q: How much life insurance should I get at this time?

 

A:  The amount of life insurance that is needed for you (and others) will vary depending on your age, family size, family structure and your future goals.

 

There are a number of ways to determine the coverage that you may need and they include:

 

  • 10x earnings ($50,000 in annual income multiplied by 10 means I need $500,000 in insurance coverage)

 

  • replacement cost (to pay off my car, house and the student loan that my spouse has been paying on for the last 15 years I need $350,000 in coverage)

 

  • need analysis (to pay off my mortgage and my 5 year old daughters future tuition and provide my wife and my daughter $100,000 cash for a 10 year period I need $1,430,000 in insurance coverage) and

 

  • Several other ways as well

 

Q: Am I able to take money out of my 401k for a down payment on a home?

 

A:  You are able to borrow against your 401k and possibly save in the short term, however there are risks.

 

You risk your retirement income being reduced, and there are potential tax consequences of borrowing against your 401k.  In addition many who borrow against their 401k never manage to pay the loan back.

 

However, legally you are allowed to borrow against your 401k, the question then becomes is it wise to do so—or should I do so at this time—or are there better options that I can take?

 

Q: After I retire and move to a new state can I lower my taxes?

 

A:  In many cases that is possible as many states have no or low tax rates and if you retired and moved to a new state you would in most cases be taxed at the rate in the state that you reside.

 

However, depending on the state that you moved from—taxes could still be owed and payable to that state.

 

Be sure to investigate further prior to your move on what will apply tax wise in your particular case.

 

Q: What is a healthy debt load for a family of four?

 

A:  The question is pretty much open ended and the answer will depend on your current income.  In general a debt load of 40% or less would be ideal.  However, in some cases compensating factors (a better school district, a more reliable car due to longer commute in your area, environmental factors, relative moving in, other additional income etc.) may lead to you exceeding the debt load of 40%.

 

Keep in mind the 40% debt load includes your housing and other debt.

 

If you make $120,000 annually or $10,000 per month your maximum or ideal monthly debt load would be $4,000 which in some localities would be possible.

 

A housing payment of $2,500 per month with a car payment of $500 per month along with other debt of $1,000 per month where you have roughly $6,000 to utilize in other ways (various monthly expenses, utilities, food, clothing, entertainment, retirement, vacations, investments, education planning etc.) will put you and your family in position for success in many areas and localities.

 

If you make “$60,000 annually”  or $5,000 per month you would be looking at a monthly housing payment of $1,250, a car payment of $250 and other debt of $500 and you would be in great position for lifelong success.

 

If you make “$240,000 annually” or $20,000 per month you would be looking at a monthly housing payment of $5,000, a car payment of $1,000 and other debt of $2,000 and you would be in great position for lifelong success.

 

In high cost cities such as New York and San Francisco you would more than likely have to exceed that 40% ratio—depending on your income.

 

The point is you want to have a debt load that is comfortable for you and allows you to live the lifestyle that you desire and save for your goals in a highly effective manner.

 

As to your family size—college planning, and the cost of raising children must be factored in as well–as that could further reduce your monthly discretionary income.

 

Note: The above numbers are illustrative in nature.  Any combination of housing and debt that is under 40% may be appropriate and the ratios must be interpreted from the money management perspective of the individual and/or  family.  Also, monthly debt as used in this discussion is debt that will exceed 12 months to pay off.

 

Q: How do I know the amount to save for college for my 5 year old daughter?

 

A:  The amount that you will need will depend on the college, in state or out of state tuition rates and the future value of the amount that you will need.

 

You can then use a number of approaches to reach or exceed that number.  If you fall short you may need to use your current income, take out student loans in your name or your child’s name, or borrow in some other manner.

 

The sooner you get started and the more discretionary income that you have available the more realistic the number that you need to reach can be reached.  In addition it is important that you and your child have an understanding of the pay scale in the current economy related to the major (degree) that they plan on pursuing.

 

You can go to Payscale.com to learn about salary info for selected majors that your child is or will consider in their future…

 

Q: I know I need a will to avoid probate, but how do I know if I need a trust?

 

A:  In many cases a trust is an effective tool for shielding income from taxation and providing a safety net for your heirs.

 

You most definitely need a will, however the decision on whether you need a trust can be a difficult one because it is based on a number of factors–including privacy as a “will”–will be made public (again no pun intended) and a trust will not.

 

Be sure to visit the estate planning page on this site along with All About Estate Planning on Realty 1 Strategic Advisors website to learn more.

 

Q: What is the amount of income that I should save to have retirement income until I reach age 95?

 

A:  Your retirement number will vary depending on your current age, your current  income, your ability to save and your future goals.

 

 You want to save enough to live at your pre-retirement level and take the vacations that you desire at a minimum.

 

In addition you may have other goals such as helping your kids and grandkid’s pursue their dreams as well.

 

This will all play into the “retirement number” that you need to achieve to make the goals that you desire materialize.

 

Conclusion

 

In the current economy you are presented with many choices and answers to your financial questions and this discussion hopefully pointed you in the right direction as far as building wealth more efficiently in the current economy—or any economy.

 

Fortunately for you and other visitors, there are hundreds upon hundreds of personal finance sites on the web and it is your responsibility to find one (or several) that you are comfortable with and can help you build wealth effectively and efficiently in the times that we now live in.

 

Your devotion to improving your finances at this time will provide you the opportunity to achieve more throughout your lifetime.

 

Hopefully you took advantage of this page on the front end (prior to making financial mistakes)–however, even if you did not—you can correct your mistakes and build the type of future that serves your best interest.

 

TheWealthIncreaser.com believes that success lies ahead for you and your family from this day forward…

 

Also return to this site as additional Q’s and A’s will be added on a continuous basis.

 

Are you an agent of change or will you become the victim of changes that occur?

 

Be sure to answer the pressing questions (financial or otherwise) that you may have inside of your mind and heart in an intelligent, consistent and proactive manner to protect your and your family’s future interests.

 

In addition you can become an agent of change by building wealth in a more intelligent, consistent and proactive manner and not fall victim to the actions of others whether it be a scam artist, governmental policy or any other individual or entity!

 

It is the desire of TheWealthIncreaser.com that these and other FAQ’s that follow will help you achieve more throughout your lifetime…

 

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MVP & Wealth Building

Learn why you are the Most Valuable Person at this time when it comes to building your wealth…

After a somewhat technical article in the last post TheWealthIncreaser.com decided that it was time to lighten things up some and inform you why you are the MVP as far as your financial future is concerned.

 

With the WNBA women’s basketball finals concluding, the Major League baseball season coming to an end, the NFL football season now fully underway and the NBA basketball season and NHL hockey season only weeks away the topic of Most Valuable Player appeared to be an appropriate topic at this time.

 

In the times that we now live in many are asking a number of financial questions and at the top of the list of many is how can they build wealth more efficiently in the current economy?

 

When it comes to building wealth it is critical that you realize that “you” are the key and most critical component in making it happen.

 

It is you who must muster up the motivation (no pun intended) to move forward in a way that is unstoppable as you must be Motivated to move to action at a very high level.

 

It is you who must create a Vision of your future that will be inspiring and will lead to you achieving significant goals that will move you and your family along at a prosperous pace.

 

It is you who must Plan for success by using written plans and it is you who must gain the preparation and knowledge on the front end that you can use to your advantage so that you can achieve more throughout your lifetime.

 

In this discussion TheWealthIncreaser.com will further expand on why you are the MVP when it comes to your financial future and building wealth in a more efficient manner.

 

Are You Motivated at a High Level at this Time?

 

It is imperative that you pursue your goals with a high level of inspiration as you must be inspired to move to action in some manner.  You must look within and discover who you really are and you must use your imagination to dream big and bring into existence a new reality where you consistently pursue your goals at a high level.  What are you aiming to achieve during your lifetime–and why?

 

Inspiration, motivation, action, imagination–use all that and more to open a new door…

 

Do You Have a Clear Vision of What You Want to Accomplish in Your Financial Future?

 

You must have a clear view of where you want to go and you must know what you want to achieve.  You must know if you are serious in approaching your future in a manner that will truly take you toward the goals that will serve your and your family’s best interest.

 

Did you know that procrastinators are afraid of “NOW” and seriously confronting their future?

 

Do you desire to pay off your creditors, join the local fitness club, take the vacations that you know you deserve, live out your retirement in a stress free manner, purchase that second home or attain any other goals that are dear to your heart?

 

If you do–you must have the vision to see it happening–at this time!

 

Focus, vision, clarity, mental working knowledge–use all that and more to achieve more…

 

Do You Have an Effective Plan for Financial & Life Success and are You Willing and Ready to Follow that Plan?

 

Your ability to make things happen in your financial life can be enhanced  in a major way by you taking a few minutes of your time to put in writing what you desire most.

 

Whether you desire to take control of your finances on a monthly basis, improve your credit, or improve your finances in some or all areas you increase the likelihood of success tremendously if you get into the habit of putting it all in writing in a format that sticks with your mind and acts as a guiding light to direct you toward what you desire most–or what you need to achieve the most.

 

Written plan, success planning, keys to success, effective site search–use all that and more and enjoy the tour…

 

Conclusion

 

By having a high level of motivation at this time, visualizing your future in the clearest manner possible, and planning for success by using written plans you are showing a real commitment for success.

 

You can choose to use this site, the 3 step structured approach, Managing & Improving Your Credit & Finances for this Millennium or any other resource that you feel will work for you–to make your dreams come true.

 

By approaching your financial future with a high level of motivation, a clear vision of where you want to go and precise planning that can more effectively direct your daily actions you are displaying to your heart and mind a real seriousness to achieve real results and success in your life will be more likely to occur!

 

Because you looked deep within your heart and mind–your heart and mind will affirm what you are pursuing and the actions that you take will be in congruence with what you are pursuing–because you have put in the work to make it happen in a sincere manner!

 

All the best to winning the MVP award and your future success…

 

 

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Macro & Micro Understanding of the Broader Economy & Your Personal Economy as You Build Wealth

Learn why your general understanding of the overall economy and your understanding of your personal economy is critical as you build wealth…

 

In this discussion TheWealthIncreaseer.com will try to explain what is often difficult for many to interpret (Macro & Micro Economic Theory) and how a meaningful interpretation that makes sense to you can help you in your wealth building efforts (Micro Economics) and allow you to act in a more appropriate manner as a result of your understanding–as you build wealth.

 

Although this discussion is somewhat technical in nature, your comprehension and awareness of the following paragraphs can put you well ahead of those in the general population when it comes to understanding the overall economy and making your personal economy work better for you and your family regardless of market conditions.

 

TheWealthIncreaseer.com will begin by defining general concepts that are needed to help further your understanding of macro and micro economic theory and follow with a discussion on how you can use your newly acquired knowledge to move forward financially at the various points in your life as you deal with the larger economy and your personal finances.

 

MACRO Discussion

Definitions:

 

Macro—“Macroeconomics” a branch of economics dealing with the performance, structure, behavior, and decision-making of an economy as a whole. This includes regional, national, and global economies. It is the part of economics concerned with large-scale or general economic factors, such as interest rates and national productivity.

 

Contrast with:

 

Micro—“ Microeconomics”  the study of individuals, households and firms’ behavior in decision making and allocation of resources. It generally applies to markets of goods and services and deals with individual and economic issues.

 

GDP (Gross Domestic Product)–Written out, the equation for calculating GDP is:

 

GDP = private consumption + gross investment + government investment + government spending + (exports – imports).

 

For the gross domestic product, “gross” means that the GDP measures production regardless of the various uses to which the product can be put.  Real GDP growth is the value of all goods produced in a given year; nominal GDP is value of all the goods taking price changes into account, therefore prepare your mind for the context in which GDP is written or spoken in and interpret properly.

 

Although you will hear a lot about GDP and it is often used as a political football, you can go to the following page to get documented results from 1990 up until 2017.

 

https://www.statista.com/statistics/188165/annual-gdp-growth-of-the-united-states-since-1990/

 

Examples of GDP in selected years:

 

2000—just over 4%

2004—over 2%

2008—negative GDP

2012—just over 2%

2016—less than 2%

2017—over 2%

2018—not available

 

*Note:  In 2008 and 2009 there was negative GDP and from 2010 to the present there has been an up and down movement in GDP, with an upward trend.

 

National Debt–Government debt (also known as public interest, public debtnational debt and sovereign debt) is the debt owed by a government overall.   The United States has continuously had a debt since the 1830’s, however the debt is now at an all time high.

 

The Fiscal Year 2018 U.S. budget deficit is $833 billion. 

The deficit hit a record of $1.4 trillion in the fiscal year 2009 following the years 2007-2009 (great recession era).

 

See chart at the following link to learn more:

 

https://www.statista.com/statistics/187867/public-debt-of-the-united-states-since-1990/

 

By contrast, the annual “government deficit” refers to the difference between government receipts and spending in a single year (discussed below).

 

https://www.statista.com/statistics/200410/surplus-or-deficit-of-the-us-governments-budget-since-2000/

 

Annual Budget Deficit—the U.S. budget deficit by year is how much more the federal government spends than it receives in revenue annually.

 

Prior to the 9/11/2001 time frame there was a government surplus on an ANNUAL basis (see chart), however since that time the government has continuously operated at a deficit on an ANNUAL basis and the national debt has increased yearly!

 

Go to the following TreasuryDirect.gov link to learn more about the National Debt over a number of years:

 

https://www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt_histo5.htm

 

Examples of National debt for selected years:

 

2000–$5.674 trillion.

2004–$7.390 trillion

2008–$10.02 trillion

2012–$16.3 trillion

2016–$19.57 trillion

2017–$20.24 trillion

Current—over $21.48 trillion (click here to see real time debt clock)  

 

Economic Indicators–An economic indicator is a statistic about an economic activity.  Economic indicators allow analysis of economic performance and predictions of future performance.  One of the most important uses and application of economic indicators is the study of business cycles.

 

There are three types of economic indicators: Leading, Lagging and Coincident:

 

1) Leading.  Leading indicators help to predict what the economy will do in the future…

 

2) Lagging.  Lagging indicators confirm what leading indicators predict…

 

3) Coincident.  Coincident indicators move with the economy…

 

Popular leading indicators include average weekly hours worked in manufacturing, new orders for capital goods by manufacturers, and applications for unemployment insurance.

 

Lagging indicators include things like employment rates and consumer confidence. The business cycle always have highs and lows.

 

Coincident indicators include things like your personal income.

 

In summary, leading indicators move ahead of the economic cycle, coincident indicators move with the economy, and lagging indicators trail behind the economic cycle.

 

Examples:

 

LEADING: Signal future events

 

  • Bond Yields (leading)
  • Housing Starts (leading)
  • M2 (Money Supply–leading)
  • Consumer Confidence Survey (leading)

 

LAGGING: Follows an event

 

  • Unemployment Rate (Current Employment Statistics (CES) lagging) see chartnote downward trend in unemployment since the great recession

 

 

 

 

COINCIDENT: Occur at the same time as conditions they signify

 

  • Real GDP (Gross Domestic Product—coincident)
  • Personal income (coincident)
  • Market Index Movement

 

It is important to know the role that GDP, Annual Debt, National Debt and other Economic Indicators play as that knowledge can help you plan better for your future.

 

Additional market indicators include the Dow 30, S&P 500 and other market indices and there performance throughout various countries and regions–as well as the globe.

 

Interest rate movement, the cost to borrow, inflation, stock market movement and other macroeconomic indicators can all help you determine the right moves to make in your life from a micro economic perspective.

 

 

 

MICRO Discussion

Definitions:

 

Micro—“Microeconomics” the study of individuals, households and firms’ behavior in decision making and allocation of resources. It generally applies to markets of goods and services and deals with individual and economic issues, including that of family’s.

Contrast with:

Macro—“Macroeconomics is a branch of economics dealing with the performance, structure, behavior, and decision-making of an economy as a whole. This includes regional, national, and global economies. It is the part of economics concerned with large-scale or general economic factors, such as interest rates and national productivity.

 

Budget or Cash Flow Statement—A personal budget or “home budget” is a finance plan that allocates future personal income towards expenses, savings and debt repayment. Past spending and personal debt are considered when creating a personal budget.

 

personal cash flow statement measures your “cash inflows and outflows” in order to show you your “net cash flow for a specific period of time. Cash inflows generally include the following: Salaries. Interest from savings accounts. Dividends from investments.  Cash outflows generally include: Mortgage payments.  Auto payments. Utility payments.

 

Inflows minus outflows will determine if you have discretionary income or whether your monthly outflows exceed (you would be in the negative) your cash inflows.

 

Net WorthNet worth is the value of all assets, minus the total of all liabilities.  Put another way, net worth is what you own minus what you owe.

 

It is important to know your net worth and and it is important to grow your  net worth over time.

 

Discretionary Income—the money you have after paying for necessary expenses like rent, utilities, and food. It’s what you use to buy non-essentials (goods and services that you have discretion over) throughout the month.

 

Disposable Income—also known as disposable personaincome (DPI), is the amount of money that households have available for spending and saving after income taxes have been accounted for.

 

Personal Credit—Consumer credit is a debt that a person incurs when purchasing a good or service. Consumer credit includes purchases obtained with credit cards, lines of credit and some loans. Consumer credit is also known as consumer debt.  The most common form of consumer credit is a credit card.

 

Emergency Fund—an account for funds set aside in case of the event of a personal financial dilemma, such as the loss of a job, a debilitating illness or a major repair to your home.

 

In the microeconomic area of your life you must have an effective system that allows you to address the following areas in the most beneficial manner as possible:

 

Insurance

Investments

Taxes

Education Planning

Estate Planning/Wills

Retirement Planning

 

By creating a budget, knowing your net worth, effectively managing your credit, properly establishing an emergency fund and managing all areas of your finances at a level that is the best that is within you—you are now on a real path to making your dreams come true.

 

By looking down at the overall economy from a high altitude you now have a better view—and that view also allows you to see your own overall management of your own finances  with more clarity and you are now in position to achieve major success throughout your lifetime.

 

Conclusion

 

Your understanding of the larger economy that you live in as well as your understanding of how you can manage your finances more efficiently will serve your and your family’s greater financial interests in a major way from this day forward.

 

Always realize that there are a number of sources for receiving economic indicator data and one site or source may vary from the other but they will in many cases be going in the same direction but may require in-depth analysis.

 

TheWealthIncreaser.com believes that you no longer have to be confused about financial jargon and how it relates to your wealth building future.  You now have a better understanding of macroeconomics and microeconomics and you can now move forward with confidence as you build wealth.

 

You can put together an effective plan to direct your future in areas that you have control over and make chess type moves in areas that you may not have control over.  You can now direct your future more effectively and control your future outcomes.  You are now in position to act—not react–after the fact–and achieve more with less effort.

 

As you build wealth—you now know how to operate with more precision because you have a meaningful understanding of the Macro Economy in your Country or Region—as well as the Micro Economy that you manage in your own household.

 

You must be aware of wage stagnation and inflation in your nation–and you must know how to integrate your knowledge of the market indicators into an understandable format within your mind.

 

You must understand that a “growing national debt” that is caused by tax cuts, increased government spending and rising interest rates will ultimately lead to the interest on the national debt increasing in ways that may not only be good for your country–but may also be a drain on your personal economy as well.

 

Some market forecasters predict that the interest on the debt will double from 2017 to 2019 and balloon even further after that–therefore,  it is important to have some idea of what effect that may have on your personal economy.

 

Always remember that there are 3 things in your life that are constant:

 

  • Things you can’t control

 

  • Things that you could possibly control but you won’t

 

  • Things that you can control and you can choose to do so or choose not to

 

The microeconomic area of your life provides you the ability to choose option 3 in the affirmative.

 

In the macroeconomic world you will often find yourself with option 1 and/or option 2.

 

By determining at this time that you will manage your finances better—and put together a serious plan of action you are on a path to making life much more enjoyable for yourself and your family in the current economy—or any economy.

 

All the best toward your economic success…

 

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Deception & Wealth Building

 

Learn why you must avoid “deception” as you build wealth…

 

It is important that you are on guard for deceptive or misleading information as you manage your finances and build wealth.

 

Whether you get your information online, in magazines and newspapers, over the air such as radio and TV or any other way you must be aware at all times that the information that you may be hearing may not serve your best interests.

 

It is not uncommon for your favorite athlete, entertainer or other popular personality to promote products and services with the end goal of getting you to act in a desired manner.

 

In many cases what they are promoting may actually work against your financial and wealth building growth and you may not be aware of that fact—or become aware at a later point where it becomes difficult or impossible to resolve in your favor.

 

It is important that you become aware of deceptive actions (or the potential for you to engage in deceptive actions due to the action of others) on the part of others as you build wealth–as that awareness is critical in the times that we now live in.

 

In this discussion TheWealthIncreaser.com will explore ways that you can avoid letting the deceptive or misleading actions of others negatively affect your wealth building efforts.

 

1)   You must read, listen and understand what is really being said (and not said) regardless of who says it

 

It is not uncommon for many to hear their favorite radio personality, actor or actress, athlete and other entertainer(s) promote financial products and services.

 

Many businesses that you deal with throughout your lifetime will also promote products and services that may appear to meet a need in your life or serve a need in a manner that appears beneficial to you.

 

In some cases what is being promoted may actually work against your best interest and that of your family’s and this discussion is designed to help put you in a more favorable position to guard against the misleading and deceptive actions of others regardless of what they are and who they come from.

 

2)   You must not let the deception of others cause you to take the wrong action

 

What you are hearing works against you and can cause you to take the wrong action when it is presented in a misleading or inaccurate way.

 

For example, if you now have excellent credit and you currently pay 14.99% in credit card interest and have a balance of $4,000 and you hear a promotion by your favorite radio personality to combine your debt and pay 4.99% in interest and save hundreds in interest.

 

Let’s say you took that advice and did what your favorite radio personality suggested.  On the surface it looks good and you will save in interest.  However, you may have had better options and you didn’t even know it.

 

Depending on your income, emergency fund balance, current credit profile, your discretionary income and a few other factors you may be able to pay that debt off at 0% interest for 18 months (credit card transfer fee may be involved) and in 3 years you could have that debt paid off at a lower overall cost than agreeing to the 4.99% offer.

 

The point is you could save more in interest and possibly pay the debt off faster and in a more convenient manner by doing so—but even if you listened carefully—what was not said was the key point especially if you are unaware of your ability to pay 0% interest on the credit card debt that you owe based on your credit and market conditions.

 

In addition, you also have other options or payoff methods that you could pursue outside of both of the options presented above that may be more beneficial for you and your family depending on where you desire to go (goals) in your future.

 

3)   You must plan proactively to reduce the likelihood that deception will be used against you throughout your lifetime

 

The above example of having your credit card payments reduced from 14.99% to 4.99% where you could have possibly done even better, and many other scenarios that you will or may face in the world of finance—can be reduced, made less relevant or avoided by you if you gain the right knowledge and preparation on the front end—not after you make mistakes.

 

If you have the right knowledge at the right time (before you enter into a transaction) you can put yourself in better position to make favorable outcomes happen for you and your family.

 

Don’t be misled by emotionally charged commercials and letting those who you are “big fans of” misdirect or mislead you on the financial affairs that will happen during your lifetime.  You no longer have to be intimidated by high pressure or low pressure sales pitches–unless you choose to–as you can put yourself in position where you are in control of your financial future.

 

It is important that you get out in front of your finances at this time by analyzing your finances at this time in an intelligent, consistent and proactive manner so that you can achieve more.

 

Conclusion

 

In many cases it is what is not said that is most critical when you hear ads and other promotions.  You must always analyze what you are hearing in the most analytical, careful, accurate, and critical manner possible to protect against your and your family’s financial interests.

 

On financial documents if what is said is unclear or you see the potential for confusion—write in what you are asking for and make it a part of the contract—so there is no confusion about what happens later and who is responsible.

 

If you purchase a used car and buy a warranty for 100,000 miles and the vehicle has 40,000 miles at the time of purchase—“write in” on the warranty document “warranty to last until vehicle reaches 140,000 miles” to protect your future interests.

 

The creator of TheWealthIncreaser.com had a similar experience with Atlanta Luxury Motors as what the sales manager in the finance center stated in uncertain terms and what was actually enforceable by the warranty company varied (when they were called stated warranty was for 100,000 miles period) and as a purchaser you had no way of knowing because the box checked for the warranty period could be interpreted a number of ways.

 

Atlanta Luxury Motors (ALM) did not resolve this discrepancy satisfactorily and The creator of TheWealthIncreaser.com will not be purchasing a vehicle from them again.

 

Be particularly aware of debt payoff and consolidation companies, payday lending companies, title pawn companies, high fee banking and investment institutions, mortgage lenders, auto lenders and credit card issuers as they can have a negative effect on your wealth building efforts if you are not careful.

 

In almost all cases there will be consequences as a result of your action or inaction as you navigate through life and encounter financial dilemnas!   Now is the time that you make favorable outcomes happen in your life as you build wealth.

 

It is also important that you operate on a daily basis with high standards by gaining the financial knowledge that you need proactively!  You must also demand high standards from those that you do business with–whether it be TheWealthIncreaser.com or any other transaction that you may make during your lifetime.

 

You must be able to see your financial future clearly and you must know the areas that you must address in a comprehensive manner so that you” know what lies ahead at the various points in your life.

 

By doing so you put yourself in a better position to avoid deception and financial strife–throughout your life.

 

All the best as you avoid deception and build wealth…

All the best as you improve your financial health…

 

Success is now…

 

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Timing & Wealth Building in the Current Economy

Learn why the effective use of your time is critical for your long-term wealth building success…

 

It is important that you take a sincere look at how you manage your time as it relates to your finances and all areas of your life.

 

It is also important that you realize that the time aspect of wealth building can be looked at from a number of different angles.  In this discussion TheWealthIncreaser.com will look at a few ways that you can use time to build wealth more efficiently in the current economy.

 

You cannot waste time daily by not knowing where you stand financially, not understanding how credit affects your overall finances and not having a comprehensive overview of how to manage your finances effectively in all areas!

 

It is the desire of TheWealthIncreaser.com that this discussion will show you the importance of time management and further direct you toward ways that you can actually use the management of your time to achieve more throughout your lifetime in ways you may have never imagined.

 

Over the years TheWealthIncreaser.com has seen many who managed their time effectively and also those who did not manage their time effectively.

 

By managing your time in as effective a manner as possible you can put yourself and your family in position to achieve much more (including goals that you may now feel are impossible to attain) in a more efficient manner.

 

In the following paragraphs you will learn 3 highly effective ways that will allow you to make better use of your time and achieve more throughout your lifetime.

 

1)   Manage Your Time Better By Knowing Your Current Financial Condition

If you are at this time serious about the management of your time as you build wealth you must know your current financial condition or your current financial strength (or weakness).

 

Do you have adequate income at this time that will allow you to achieve your future goals or do you need to get more income and/or cut expenses?

 

By creating a budget or cash flow statement you can put yourself in position to know what you can do on a monthly basis in “concrete terms” and know what you will have left (discretionary income) to pursue other areas of concern that you may have financially.

 

Even though it will take time to create and analyze a cash flow statement, you will save far more time in the long run because a budget or cash flow statement will help give you the direction that you can (or need to) go in a much clearer manner.

 

2)   Manage Your Time Better by Managing Your Credit Optimally

Once you know where you stand financially you must put together a plan to eliminate your debt and particularly your credit card debt (if you have any) to a manageable level or to a level where you are in control—and not keep your balance(s) at a level where creditors control you!

 

You must also learn how to master the 5 credit factors so that you can control your credit throughout your lifetime.

 

Even though it may take mental energy and time to learn and effectively apply your mastery of the credit factors—you will put yourself in position to manage your credit throughout your lifetime in a manner that will get you real results in a time-efficient manner and in a manner that can put you on a track to attaining the goals that you desire or need to attain throughout your lifetime and even after you transition.

 

3)   Manage Your Time Better by Having a Comprehensive Overview of Your Overall Finances

By knowing your current financial condition and having mastery over your credit you are now ready to analyze and approach your finances from all angles!

 

You are ready to look at your insurance, investments, taxes, emergency fund, education planning, estate planning/wills and retirement planning in a more confident manner.

 

You are ready to use your time effectively because you know the importance of living your life in a manner where you don’t leave doing what needs to be done for others to do.

 

You are now seeing your future more vividly and with more focus because you know that you can achieve the goals that you desire if you stick to the plan that you  (or your financial planner) create based on the analysis of your unique financial position that you spent the time to analyze.

 

At this time you know that achieving financial freedom is your mission and you have no intention on stopping until it is done, or you are in a much better financial position!

 

Conclusion

 

The effective management of your time may initially seem very difficult to you and that is not uncommon.

 

However, once you start applying what you have learned in this discussion on a consistent basis your understanding and application of the process will be made easier and you will eventually save much more time in comparison to the effort that you expend upfront when you look back upon your life!

 

Even though financial mishaps and correcting mistakes due to carelessness and not knowing what might (or is happening) will occur during your life, they will be reduced, eliminated or made less relevant in your life because you will have an effective system that you carry within your mind throughout your life that allows you to achieve more in less time.

 

Even though you may have to exert more mental energy than you or your peers are accustomed to on the front end—you will ultimately get to a point where managing your finances and your time becomes second nature to you—if you are sincere in making your dreams come true.

 

You will become very efficient in managing your finances and you will achieve more throughout your lifetime and it will be due in large part to the commitment that you made at this time to build your wealth in a more engaging way as far as exerting more mental energy on the front end in a real effort to achieve or reach your goal(s) in a timelier manner!

 

Also, if you are like most visitors to this site, you will want to know the time frame in which you will reach your goals—the answer will vary from person to person and your objective(s) or where you want to go financially.  Your goals and objectives will differ from others as everyone has a unique financial position and goals that differ in all cases.

 

Let something original work its truth in your life.  Equip your mind for lasting success, do good work that will lead you on a real path toward reaching your goals and use a comprehensive approach to manage your finances that will force you to make better use of your time on a consistent basis!

 

In this discussion you have learned that the time to start effectively managing your finances is now, the process of achieving your goals will take time and the reaching of your ultimate goals will vary from person to person and family to family and the time factor will be unknown in many cases unless you put in place a written plan based on your unique financial position that will effectively guide you to your destination—if you are willing to follow that written plan in a sincere manner.

 

By doing so you are equipping yourself for the continuous financial success that you desire and deserve in the current financial and political environment—or any environment—now or in your future.

 

Your knowledge alone of this discussion is not enough—action toward reaching YOUR GOALS is what really counts at this time.

 

Those who truly desire success prepare for the consequences or outcomes that they desire in a proactive manner and also have a plan if the outcomes differ from what they desired.  They always respond positively to adversity and have an action-oriented mindset!

 

Transforming your finances from where they are at this time to where you need (or desire) them to be is normally a process (time is involved) and not an event (I can do it today and I am through) and it is imperative that you prepare your mind for the journey at this time with realistic timelines as the blueprint within your mind and a written plan that will provide you the needed direction!

 

All the best toward your timely wealth building success…

 

More on how you can use the time factor to achieve more throughout your lifetime:

 

How to Use Your Knowledge of the “Types of Income” to Save Time

How to Use “Compounding” to Achieve More Over Time

Learn Why “The Time Length” of Your Credit Accounts Are so Important

Timing & Wealth Building

Timing & Personal Finance

Responsibility & Personal Finance

Financially Alert Mind & Personal Finance

Financially Alert Mind & Financial Success

The 3 Step Structured Approach to Managing Your Finances

 

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Bountiful Harvest & Wealth Building

Learn why now is the time to plant your seed (gain a solid financial  foundation) in fertile soil so that you can have a bountiful harvest (achieve your  financial and life goals)…

 

With April roaring in and many parts of the world  “sowing the ground” in an effort to bring in a bountiful harvest in due time as the goal–TheWealthIncreaser.com thought that the topic of reaping what you sow was an appropriate topic to focus on as far as improving your finances and building wealth was concerned.

 

Just as those who plant various fruits and vegetables in fertile soil and work the land–so too must you gain a solid foundation and work toward reaching the goals that you desire or the goals that you need to attain.  You must not let unpredictable weather patterns (adversity) negatively affect your output as that should be expected if you are  sincere about reaching your goals.

 

By planting thoughts of success in your heart and mind (planting seed in fertile soil) and putting together a plan that can get you the results that you desire  you can have a bountiful harvest (reach your financial goals) if you take the right action on a consistent basis along the way.

 

You must prepare your mind for the financial success that you desire and you must have the mindset that you will reach higher.

 

• Do I have a “meaningful understanding” of personal financial statements 

 

You must create a personal cash flow statement to see where you now stand financially.  It is akin to taking a soil sample to see what you are working with as far as the fertility of the ground is concerned.

 

Are you operating in good soil (visualizing clearly how you handle your income and expenses on a monthly basis) or do you need to amend the soil so that you can have a more bountiful harvest (move closer toward reaching your goals by getting more income, cutting expenses or doing a combination of the two) by having the discretionary income on a monthly basis that you desire to make life more enjoyable and meaningful for you and your family?

 

Do I fully understand the “factors” that affect my credit scores—including the ratios?

 

By understanding the factors that affect your credit you are in effect helping to control the weather patterns (so you can sit out in the sun) as opposed to having the weather patterns control you (running you inside your house due to inclement weather).

 

You must know how a Positive payment history, how you Utilize your credit, the Time length of your credit, the Type of credit that you have and Inquiries affect your credit and ultimately your financial future.

 

• Do I know all areas of my finances that I “must” address? 

 

By planting in fertile soil you will begin to see your harvest blossom in ways you never imagined.  Also by seeing your finances in a comprehensive way–you can achieve goals that you may have never thought possible.

 

You must know that you must address your insurance, investments, taxes, emergency fund, education planning, estate planning/wills and retirement planning in as effective a manner as possible if you desire to achieve more during your lifetime.

 

Conclusion:

 

When it comes to your finances you must  know where you are now at and where you are going!  You must encourage and inspire your loved ones and others to reach higher as well.  You have the power to change the trajectory of your financial future!  Your application of what you are learning on this page and site must  be balanced with the future goals that you desire or need to achieve.

 

It is important that you realize that what you “learn, know and apply” empowers you to take more effective action as it relates to reaching your goals.  You can make your road to success easier by applying the right principles at the right time during your life.

 

You can achieve many of your financial goals that may look impossible at this time if you pause and put together an effective plan that will take you to where you need or desire to be.   Leave your baggage (weeds) that is holding you back behind—turn something old into something new and better.  Do something fresh today–respond to adversity in a strong fashion on a consistent basis. 

 

Why you must do what needs to be done now–without procrastination…

 

You can prevent the weeds from growing (avoid making mistakes) so that you won’t have to repair the soil (waste valuable time and money when you could have avoided it).

 

You must realize that you are challenged and charged (by TheWealthIncreaser.com) to do far more than you are doing at this time!

 

You must stick to it and move your PEN so you can WIN!

 

Let something original (a new rain cloud followed by unlimited sunshine) work its way into your life.  Equip your mind for lasting success by gaining the skills that are needed to reach your future goals and use a comprehensive approach to manage your finances. 

 

By doing so you are helping to ensure that you are equipped for the continuous financial success that you desire and deserve. 

 

Be sure to apply what you learn in your everyday life.  Your goal must be to be–and to do—not just know what to do and let what you know sit idly in your mind.

 

Your knowledge of the above material alone is not enough—action is what really counts.

 

By sowing your seed in a fertile environment you are helping to ensure that you do all that you need to do—and more as you move toward your financial goals.  You are helping your financial growth process and at the same time ensuring that a bountiful harvest is in your and your family’s future.  

 

You are on a real path to reaping what you sow because you have taken the time to gain the preparation and knowledge that can make your future glow–and more importantly put you in the know–as far as putting you on a path to obtaining financial results that will show!

 

You are on a path toward attaining a Financially Alert Mind (as opposed to just Financial Literacy) that will allow you to weather the elements as you reach toward your goals throughout your lifetime.

 

Always remember that you will be known not only for the impact that you have in your own life but also the impact that you have on others.  By making a serious commitment today you can have a positive impact on others and also reach the goals that you desire as well!

 

It is the desire of TheWealthIncreaser.com that you are now in better position to Sow the Financial Future that You Desire and receive a Bountiful Harvest…

 

Now is the time to plant what you desire in fertile soil so that you can have a bountiful harvest…

 

All the best to your future success…

 

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