The “Resolution” that makes the wealthy WEALTHIER every year.

Posted by Ryan Clark on January 4, 2015

We all love the allure of a new year with its clean slate and brand new opportunities to make this year our best ever. You know the drill: make that list of 10 to 20 resolutions of things we promise to change or improve during the New Year…our new opportunity at redemption! Loosing weight, eating healthier, reading more books, and making more money are commonly on the list. Which goals are on your list this year? What did you have for last year? Did you achieve them? Do you remember? Last year, I decided to paste my goals all over our bathroom mirror in an effort to remember them. I thought it was a great idea, but my wife on the other hand, didn’t appreciate my new decorations. This landed them right back into our journals. This year, we have come up with a new program and are looping our daughters (9, 8, and 7) into it along with weekly journal writing to build the habit. Our goal is that by placing the year’s goals at the beginning of the book, and encouraging weekly writing, there will be more opportunity for them to reflect on how they are measuring up to their goals. “Good goals have to be measurable and memorable” we taught the girls. Measurable means tracking our progress and memorable is remembering the goal and why we set it – so we don’t give up. However, having great goals still does not overcome the two main reasons why people fail to achieve their New Year’s resolutions: Discipline Unexpected Events What is interesting about this is that it is very similar to financial failure. Discipline is usually the assumed first culprit for financial failure, however the #1 Killer to financial plans are Unexpected Events. This means that life changes. How many of us hit the gym and wait in line for the treadmill in January, but then due to some unexpected event, get knocked off our planned schedule and never get back on? Do we start out saving more, but then the car blows up (or something) and then have to take the newly saved money out to pay the bills? It’s a vicious cycle, but one that CAN be broken. However, let me make it a bit more intense, as if those two issues weren’t enough. I’ve identified 7 issues that threaten our ability to navigate through this financial maelstrom. It’s like running a gantlet in thick fog. Some of the obstacles trying to get you are market volatility, easy debt offers, ever changing tax laws, and the like. (Learn more here: “7 Dangers Threatening Your Retirement“) Plans can still be made and followed but they are becoming increasingly complex and have to adjust frequently. How do we overcome this? How do the Wealthy do it and continue to create more wealth when there is so much adversity? They start here! This is the “Resolution” that makes the wealthy WEALTHIER: The Wealthy Take Time to Plan Reflect on the Past: Think deeply (or review your budget, if you have one) about what didn’t work or got procrastinated last year. The wealthy save approximately 17% of their gross income. How did you do? We recommend 15-20% of your gross income. Usually debt is the biggest thing that stands in people’s way. Our average client eliminates their debt in 8-11 years. We’re also looking if our clients’ taxes were more than 15% and if their investments earned 15% or more. Create your Future: Once you know where you are, it is much easier to create what you would like your money to do for you this next year. You are the creator, build it! Do you want to have that nasty credit card paid off? Perhaps your Trust was created, but you haven’t put anything into it making it useless (this is very common). Are you saving anything for those major expenses coming up? Is the college fund being funded? Do you have a plan to retire? A key principle that is never talked about by the financial industry is that your cash flow allocation, or how you choose to deploy your cash flow, is more important that Rate of Return or Interest. (Learn more here: “The Order of Wealth“) Measure your Progress: After you’ve created what you would like your year to look like, how will you measure it? This is where the boys meet the men (you too Ladies – we know you wear the pants anyway). Have you started a budget only to have to change it the next month? Or a debt elimination plan that becomes obsolete in 3 months? My most successful clients have realized they might be good at creating a plan, but the execution of it is often difficult to maintain over 12 months. This is where having an accountability partner is important. Successful people have realized that they can only go so far on their own. To hit big goals requires more so they find mentors, coaches, and systems to help them stay the course. My favorite analogy for this is a Pilot. Think about it! He has a co-pilot and then an arsenal of devices to help him understand where he is at all times and where he is in relation to the destination. This navigation is built into the WealthSage software helping to guide clients through the fog; it keeps them on the course and adjusts quickly when they’re off. Now that sure is a lot to think about and to consider. If you’re serious about making significant changes this year WealthSage is the most powerful money management system on the planet – and the easiest. If you don’t believe me read my book and begin the discovery! Learn more here: “The Order of Wealth“)

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Are Old Beliefs Holding You Back?

Posted by Mike Coles on December 13, 2014

I have to say, most people don’t believe me when I tell them the kind of results they are going to get when they meet with us. Why don’t they believe me? In the psychology world it’s called preconditioning. You see, we have been preconditioned all our lives to believe certain authority figures regardless of what they teach us. Some say that it’s actually a built-in protection device from our caveman days designed to keep us from being eaten by a saber-tooth tiger or stomped on by a woolly mammoth. We have been preconditioned by our parents, our teachers, and the media (especially the media!) to believe that certain things are the way they are. And you know, things are the way they are, That is…until they’re not! That’s why I’ve grown accustomed to people saying “I don’t believe that’s possible.” Then, when I show them that we’ve helped hundreds of people do it, and a personalized financial report showing them something they’ve never seen before…well, it’s hard to believe at first. The second time I go through the numbers with them, those old, false beliefs that came from well-meaning authority figures start to melt away. And then I delight in seeing it on their faces when it all clicks: “It works! It’s going to work for me! Yes!” Do you want to know what some of the old beliefs you’re carrying around are that are holding you back? More importantly, do you want to know what beliefs you need in order to have financial success? Well then, I have two good sources for you: One: Order a copy of our book The Order of Wealth, to get the deep down, nitty gritty details: OR Two: Get two FREE chapters of The Order of Wealth: Either way, the truth is that we all pick up and carry false beliefs about money. It’s just a fact of life.  But to get the results we want financially, we have to start by aligning our thinking with those who are financially successful. Click Here to see how this might work for you.

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