I have a good friend who won’t become wealthy. He says he’d like more money in his life, but here is how our conversations go:

Me: “You know that if you invested in real estate you would have paid off properties in ten or twenty years. Then you could quit that job you hate and go fishing”.

Friend: “No way do i want to own a rental house or a couple of apartments. I don’t want to deal with tenants, repairs, or colecting rent. That’s not for me”.

Me: “Did you ever think about getting a part time job? You could invest the extra income in some mutual funds and let them accumulate. After awhile, your stocks could give you emough dividends so you wouldn’t need to commute to that job every morning”.

Friend: ” No way could i work a part-time job I need time to relax and enjoy that new big screen television I bought for the kids.

Plus, Im so burned out at the end of the day from my regular job that i can barely make it to my recliner. And part-time jobs don’t pay as much as my full time job. Why should I work for less? And the stock market might go down and I’d lose money. Plus I can’t wait years to retire. I want to retire right now”.

Me: Did you ever think of going to night school? You could get the training to get a big advancement and pay raise in your regular job. Then you’d have extra money to invest to start creating your wealth nest egg”.

Friend: “Night school ? Are you kidding? Once I finished high school I told myself I’d never have to study or learn again. I can’t stand classrooms”.

Me: “Why not start a small part-time business? You could gradually grow the business to become a full time profession or at least you could take the part time earnings and invest them for your retirement. Ever think about that?”

Friend: ” No. That’s too risky. What if I couldn’t get any customers or someone didn’t pay me? Then I’d have to work for nothing just to get started. I want to be paid for every hour I work. I deserve it. Plus, I don’t want to be tied down to lease or employee problems. That’s all too much stress and bother”.

And so the conversation goes.

No matter what is suggested, my friend has a reason why it won’t work for him. Nothing will work for this kind of person - not even a business where all you have to do is watch cable television all day. This type of person would say that all that television watching would be too hard on the eyes.

This type of excuse-driven person will never be wealthy. Sure, he might say he want to be wealthy, but only if becoming wealthy was a worry-free, guaranteed proposition that required no work, no effort, no risk, no input or no investment on his part.

Good luck findng that kind of deal in today’s world. This is not for him or people like my friend. To be wealthy is for doers - people who want to become wealthy and are willing to do something about it.

John Retirement Plan - If He Can Do it..So Can you.

Name: John
Age:23
Occupation:Taxi Driver
Income:$29,000 a year
Retires weathy: Age 43

At age 23, John was broke.
At age 43, John stoped driving his cab…and retired wealthy!
What happened?
Did John win lottery? did a rich aunt leave a large inheritance? Did he find buried treasure? No.

Becoming weathy and retired wasn’t luck. John had plan.
Just a small, simple change in John’s work habits turned him from a cab driver into a full-time, wealthy retiree-a full 22 years before the normal retirement age of 65!

John will be playing a lot of golf.
We’ve all heard that knowledge is power. Well, John learned that saving just a small amount of money each day would change his ife. The money he saved woud grow through the magic of compound interest.

John has read that if you could save 10% of your salary and invest it wisely, you would accumulate wealth through the magic of compound interest.

Only one problem.

John couldn’t save 10% of his salary. Between him and his family, they used 100% of his taxi driving earnings of $29,000 a year.

There wans’t a penny left over for savings.

So John did the next best thing.

He dicided to earn more money so he could build his savings nest egg. From now on he would make sure to work a bit longer each day until he had earned an extra $20 in fares. Some days he would get $20 fare by working just 30 minutes longer. Other days he would have to work an extra hour or two.

But everyday, five days a week, John earned his extra $20 to put into his savings.

As his savings grew, John invested in mutual funds. The average yearly return from his fund was about 10%.

This is what happened.

At $20 a day, five days a week, John accumulated $100 a week in savings. That’s $5,200 extra per year. can you get rich saving $5,200 a year ? Lets see what happen when you invest that money at 10% return.

Year        Amount Saved      Total Savings & Interest
1            -       $5,200             -           $ 5,200.00
2            -       $5,200             -         $ 10,920.00
3            -       $5,200             -         $ 17,212.00
4           -        $5,200             -         $ 24,133.20
5           -        $5,200             -         $ 31,746.52
6           -        $5,200             -         $ 40,121.17
7           -        $5,200             -         $ 49,333.29
8           -        $5,200             -         $ 59,466.62
9           -        $5,200             -         $ 70,613.28
10         -        $5,200             -         $ 82,874.61
11         -        $5,200             -         $ 96,362.07
12         -        $5,200             -       $ 111,198.28
13         -        $5,200             -       $ 127,518.10
14         -        $5,200             -       $ 145,469.91
15         -        $5,200             -       $ 165,216.90
16         -        $5,200             -       $ 186,938.60
17         -        $5,200             -       $ 210,832.45
18         -        $5,200             -       $ 237,115.70
19         -        $5,200             -       $ 266,027.27
20         -        $5,200             -       $ 297,830.00

At the end of just 20 years, John’s $100 a week contributions have grown to $297,830!

At 10% interest, that’s $29,783 a year for John and his family — slightly more than John’s original yearly earnings. Now with his new $29,783 income from his investments, John never has to work again if he chooses. He just joined the ranks of rich and retired.

What about the future?

John says, In another 22 years i’ll be eligible for Social Security retirement benefits. Thats will be just like a pay raise.

Meanwhile, I plan to enjoy life 24 hours a day, seven days a week!

Can You really be rich, retire wealthy and have the time of your life?

Yes!

And it doesn’t matter if you are a rocket scientist, a taxi driver, a fisherman, a bank teller or even a backpacking bungy jumper. Anyone can be rich, retire wealthy, and have the time of his life by using some common sense ideas.

Wouldn’t it be nice to have all the money you want? What would you buy?
A new or larger home?
A fancy sports car or luxury sedan?
College for the children?
A home for handicapped children?
A trip around the world?

Wouldn’t it be nice to never have to work again?  How would you spend your unlimited free time?
Would you play golf on the famous courses of the world?
Would you go to Hawaii?
Would you sail the Caribbean?
Would you take a year off to travel with your family? Would you become an artist?

Not only is it possible to do all of these things but you can do them!
You don’t need any special talent or secial priviledges. Anyone can arrange his life so that he can accumulate wealth, have fun, or retire years before he is too old to enjoy it.

All you have to do is start by reading this series of post ” How To get Rich”

You’ll learn that there are several ways to accumulate financial wealth. And you can choose to use any of the methods. There are several roads. You don’t have to ick the same road your neighbor does. You choose the road that seems right for you. The good news is that these roads lead to financial wealth. You can achieve your financial goal no matter which course you take. So make sure to pick an enjoyable one so that you’ll enjoy the journey.

Finally, remember that financial wealth does not equal success. It’s only one art of life. There are many important areas of life that have nothing to do with money. And, money isn’t everything. What would this world be like if people didn’t volunteer their time to help humanity?  Would you want to live in a world without charity, love, or a willingness to help others? I don’t think so. However, this series of post is not about having a successful family life or spiritual life.  Were going to talk about money.

Sit back, read and enjoy. This could be the info you need that changes your financial life.