Millionaire Jeff Black Shares his Insight

My friend and highly successful entrepreneur Jeff Black has given me some real pearls of wisdom over the years. Since the age of 16 he has been providing his business expertise to world class companies AND he has started a many multi-million dollar companies of his own. He helped launch Alta Vista, Hotels.com, Resorts.com and many others. His ideas are worth listening to!

I was reviewing some of my notes from one of his appearances on our wealth coaching call we do every Monday night called the Connector Program and I thought I would share some of his insight with you.

If you are interested in creating lifelong wealth, starting a business or just creating more of what you want in life, here are a few of the golden nuggets I pulled from my interview with millionaire entrepreneur, Jeff Black:

Jeff Black says (and I paraphrase a bit for space) . . . → Read More: Millionaire Jeff Black Shares his Insight

Recession Proof Your Life – Wealth Building Tips You can Use Today

Is it possible to recession proof your life? Possibly. It begins by learning more about wealth creation. Here are some of the things that will help recession proof your life and maintain some control on inflation, paying interest, insurance costs, and income tax.

1.    You have to have a business or investments

2.    You have to have business or investments that will produce passive income i.e. you earn regardless of what is happening

3.    You must be committed to doing whatever it takes to make it succeed

4.    You must dedicate a specific number of hours and financial resources to attainment of a successful plan

5.    You must have a plan

6.    You must get in the mindset of a champion. They don’t focus on what they can’t do they focus on what they can do. They continually look for ways for incremental improvements to bring them closer to the . . . → Read More: Recession Proof Your Life – Wealth Building Tips You can Use Today

Financial Freedom & Health Care

Earlier this year I posted blog about a few of the financial principles that I thought were so important. After seeing the chaos in the public meetings about our health care system and the politics of that whole process, it reminded me that all of us need to do a better job of taking care of ourselves with diet, nutrition, and exercise so we can minimize time in the health care system, andddddddddddddd… Building Financial Wealth/Health We need to do the same thing with our financial well being. We can talk about planning for retirement, tax strategies, passive income tactics and the like but most wealth creation begins in that gray matter between your ears. So here’s a quick review.

Give yourself a wealth building checkup on these three critical wealth-health principles to see how you are doing.

1. Financial Attitude: Our Financial Attitude is that wealth building is . . . → Read More: Financial Freedom & Health Care

Are you an Active or Passive Investor? Are you Sure?

An ACTIVE investor is someone that jumps out of bed every morning, excited about making multi-million dollar deals. She has no problems signing her name to a multi-million loan, risking the bank, and doing whatever it takes to make deals happen.

A PASSIVE investor on the other hand is someone that wants to enjoy life. He wants to travel the world and explore. She wants to be wealthy so that he or she can be sitting on a beach in Hawaii and totally enjoying her life.

Rich as Donald Trump A PASSIVE investor may not care to be as rich as Donald Trump but she wants to be wealthy enough not to have to worry about bills or dealing with a boss or a job or a daily commute to the office. Sounds pretty clear, right? Maybe.

It might seem like a difficult thing to decide whether you want to . . . → Read More: Are you an Active or Passive Investor? Are you Sure?

Saving Tax Money in a Flat World

Until someone actually proved the world was not flat, you would have been considered totally crazy to think otherwise. Until someone proved that turning hot water into steam could run powerful steam engines and change the world of transportation you would have been considered a lunatic to think that a person could travel from city to city in minutes or hours instead of days or weeks.

And…until someone proved that you, yes you, can set up your own banking system and make money 24/7 with lower risk and consistent returns, just like a banker does, you would say this is just foolishness. But building financial freedom often requires a new way of thinking. Tax Savings & Wealth Building Ideas What once seemed impossible is now completely plausible, only if, you can make a paradigm shift, or a significant change in your point of view. If there is any area of . . . → Read More: Saving Tax Money in a Flat World

Four Major Systems for Creating & Controlling Financial Freedom

The Infinite Banking System puts you in total control of your wealth. When it’s all set up and running properly, you decide what money comes in and what money goes out. You set the interest rates and terms you want to pay to borrow money, just like a banker does. You decide how much interest you will charge others when you lend money and of course, the terms under which they will pay you back.

If your plan for retirement has been modified by our economic situation, maybe it’s time to learn how to create a recession-proof wealth building strategy. Plan for Retirement – Systematically Again, there is no reason to compromise your lifestyle. We understand that it has been hammered into you since you started working that you must be saving for and planning for retirement. Of course, we all want to enjoy a retirement free of financial stress . . . → Read More: Four Major Systems for Creating & Controlling Financial Freedom

How to Form a Wealth Building Team & Reduce Taxes

As the economy evolves, our wealth building and tax saving strategies evolve. That’s why I would like to introduce you to some of my millionaire friends. I have formed a team of like minded, very smart, high integrity people who are willing to share their insights on wealth building with my students.

Building financial wealth never happens one person at a time. I always say, “Teamwork makes the dream work!” I’m very excited about some of the changes we’ve recently made to our wealth coaching programs. Now you will have more opportunities to interact with highly successful people to hear their “secrets of success.”

Every week we bring in money experts, millionaires, and business experts for you to listen to and learn from in the comfort of your own home. You’ll be able to ask questions, solve problems and find ways to capitalize on financial opportunities when you join one . . . → Read More: How to Form a Wealth Building Team & Reduce Taxes

How to Turn $5,000 into $34,500

There’s a financial guru on TV who is quick to yell at people about their financial decisions. I heard her recently say that if you have an extra $5,000 in cash to invest that you should “Play it safe! Put it into the bond market.” This is a perfect example of allowing the tail to wag the dog. If you see investing as a separate and stand alone system, without integrating other critical wealth building systems, you are about to lose $34,500.

Why? Because a typical American family making $100,000 a year pays out over one third of their income in interest payments to a variety of lenders! The financial advisor that focuses on your $5,000 (and of course, her commission to invest it) is missing the opportunity to recapture the $34,500 going down the drain in interest payments.

Never forget the synergy of the other wealth building systems:

1. . . . → Read More: How to Turn $5,000 into $34,500

8 Banker’s Rules They Never Break!

To create wealth you must understand some fundamental wealth principles. Here is one aspect of our wealth coaching programs, learning how to think, act, and profit like a banker. So let’s get inside the bankers head and see what you can learn about your views of making extra money, building lifelong wealth and creating total financial freedom.

Bankers Think Safety First A banker is charged with the responsibility of running his bank at a profit. He is trained to think safety first.  Bankers follow a strict set of rules that have proven effective for hundreds of years. Anytime those rules are broken, banks get into trouble and bankers lose their jobs. We can see that in recent bank failures around the world. The Bankers’ Rule Number One is: Do not take risk.

As bankers bent this rule and started buying and selling over-valued mortgages, assuming the value of real estate . . . → Read More: 8 Banker’s Rules They Never Break!

The Best Legal Entity to Protect Assets and Reduce Taxes Pt 2

To continue a few more ideas from our Monday night’s Connector Coaching call, here are a few more thoughts on the best legal entities to consider. There’s a lot more to know about the tax advantages and asset protection features of each of these but this will give you an overview of the pros and cons of each legal entity (Check out yesterday’s post for more).

Limited Partnerships – In this legal structure the partners cannot be actively involved in the management of the business. It’s important to be realistic with this. If you’re the kind of person that has to have your voice heard and you can’t avoid getting involved, this structure is not for you. Limited means limited.

If you do get involved you can lose your status as a limited partner and that opens a whole different set of issues and defeats the original intent. All . . . → Read More: The Best Legal Entity to Protect Assets and Reduce Taxes Pt 2