10 Keys To Financial Success .....And How You Can Have It All.

Redacted from Aaron Arko (http://millionaireat24.com/about/ )after attending a Les Brown Seminar. 

1) Fasten your mental seat belt because you’re gonna take some hits

Just like when a plane is about to take off, they say put on your seatbelt we are going to encounter turbulence; the same is true with your life. There will be things that happen to you which are beyond your control but if you have your ‘mental seat belt’ on you won’t get hurt that much. You will still have the courage to pursue your dream.

2) Don’t focus on how much it costs, focus on how much it will cost YOU

This is a very important point because it shows the millionaire mindset. Focusing on how much it costs is not thinking big at all. Les Brown had to pay $2500 to go to this guru’s event and during conversation Les said he couldn’t afford it and the mentor said straight away, ‘Don’t focus on how much it costs, focus on how much it will cost you if you don’t go’. This statement opens up a whole new way of thinking.

3) Die to who you are now to give birth to who you can become

Lets face it, the person who you and I are right now is not the person that we want to be otherwise you wouldn’t be reading this right now.

In order to be somebody you’ve never been before you have to do something you’ve never done before.

4) Deliberately speak to yourself affirmitively

(This is something I do on a daily basis now) Deliberately say to yourself things like: “I’m ready, I’ve got the right stuff, I can do it, I’m a huge success, I love myself” You get the point! Affirm those positive statements to yourself everyday. Make the commitment to do it. I have. Speak them with power, passion and feelings. This gets you in the right frame of mind to align yourself with your dreams.

5) The best revenge is massive success

Les Brown tells the anecdote of  how his girlfriend left him mainly because he didn't have any money yet called himself a motivational speaker when he had no experience. Six weeks later he gets a cheque for $2.2million and she comes running back! He took her out to dinner in a limousine then she dropped down on one knee as if to propose to him – she wanted him back to which he replied ‘Stop embarassing yourself down there get up!’ He never took her back!

The best revenge is massive success

6) Listen to your first mind

Always listen to your first mind. Your gut feeling, your intuition. Ask any successful person and they will always tell you to follow your instinct. In the movie Save The Last Dance, Derek (Sean Patrick Thomas) was asked by his friend to go and shoot up some guys out of town. Derek listened to his first mind and refused – his friends then got caught by police. So the moral is:

“Always follow your gut feeling. If it doesn’t feel right don’t do it”

7) Change your mind and your life will follow

This runs true with everything you do in life which you frown upon. If you just change the way you think about things for the better your life will follow. It sounds simple but its a long continuous process. I have been told by numerous personal development guru’s to:

“Spend at least 30 mins everyday listening to/reading/watching some  sort of personal development program.”

What this does is it feeds your mind with a positive mindset and gives you that much needed ’3rd influence’ in your life. Instead of listening to the news listening to negativity.

 All of us are born the same way – dumb, naked and speechless!

 It is very true, nobody is born with more knowledge than the other person. We are all born the same – dumb! We learn how to walk, we learn how to talk, we learn how to do EVERYTHING. Do you think surgeons are naturals? NO! They have to go to medical school to LEARN. So whatever it is we want to do we have to learn how to do it. Pretty common sense I know but common sense is not always common practice.

9) Most people would rather spend $100 on some clothes rather than invest in themselves

Most people would rather forgo the chance of paying to attend a motivation seminar and learn how they can have a better hope and discover how to improve their chances of success in life, and spend the money of a quick fix. A pick me up when they walk out of the clothes store, or look in the mirror with their new clothes, thinking that new clothes means a new you, so to speak. When it fact it is still the old you dressed up as lamb for the slaughter.

When you invest in yourself, you grow you boundaries of belief.

10) BELIEVE IN YOURSELF, NO ONE ELSE WILL

Two men were standing on the corner watching women from a conference line up at a taxi stand.. They contemplated whether they have the courage to introduce themselves to a couple of them and offer them a lift to their destination and possibly make a meaningful connection. 

One man said to the other, " What do you like in the a woman."  

After a moment's silence the second responded: "I like the ones who do. I like the ones who look like they will. But most of all, I like the ones who look like they will, but then I know they won't."

The first man agreed, saying, "Me too, let's go and have a drink.."

“Facing our fears is the only way to overcome them” 

If you believe you cannot, you will not. If you believe you can do it, you will do it. 

Ten Tips For Making Money In Real Estate

Introduction
Joint ventures, wholesaling and property management are just a few of the ways investors can profit from real estate, but it takes a little savvy to become successful in this competitive arena. While certain universities do offer coursework and programs that specifically benefit real estate investors, a degree is not necessarily a prerequisite to profitable real estate investing. Whether an investor has a degree or not, there are certain characteristics that top real estate investors commonly possess. This slideshow will identify 10 habits that highly effective real estate investors share.

Make A Plan
Real estate investors must approach their real estate activities as a business in order to establish and achieve short- and long-term goals. A business plan also allows investors to visualize the big picture, which helps maintain focus on the goals rather than on any minor setbacks. Real estate investing can be complicated and demanding, and a solid plan can keep investors organized and on task.

Know The Market
Effective real estate investors acquire an in-depth knowledge of their selected market(s). Keeping abreast of current trends, including any changes in consumer spending habits, mortgage rates and the unemployment rate, to name a few, enables real estate investors to acknowledge current conditions, and plan for the future. This enables investors to predict when trends may change, creating potential opportunities for the prepared investor.

Be Honest
Real estate investors are usually not obligated to uphold a particular degree of ethics. Although it would be easy to take advantage of this situation, most successful real estate investors maintain high ethical standards. Since real estate investing involves people, an investor's reputation is likely to be far reaching. Effective real estate investors know it is better to be fair, rather than seeing what they can get away with.

Develop A Niche
It is important for investors to develop a focus in order to gain the depth of knowledge essential to becoming successful. Taking the time to develop this level of understanding is integral to the long-term success of the investor. Once a particular market is mastered, the investor can move on to additional areas using the same in-depth approach.

Encourage Referrals
Referrals generate a sizable portion of a real estate investor's business, so it is critical that investors treat others with respect. This includes business partners, associates, clients, renters and anyone with whom the investor has a business relationship. Effective real estate investors pay attention to detail, listen and respond to complaints and concerns, and represent their business in a positive and professional manner.

Stay Educated
As with any business, it is imperative to stay up to date with the laws, regulations, terminology and trends that form the basis of the real estate investor's business. Investors who fall behind risk not only losing momentum in their businesses, but also legal ramifications if laws are ignored or broken. Successful real estate investors stay educated and adapt to any regulatory changes or economic trends.

Understand The Risks
Stock or futures market investors are inundated with warnings regarding the inherent risks involved in investing. Real estate investors, however, are more likely to see advertisements claiming just the opposite - that it is easy to make money in real estate. Prudent real estate investors understand the risks - not only in terms of real estate deals, but also the legal implications involved - and adjust their businesses to reduce those risks.

Invest In An Accountant
Taxes comprise a significant portion of a real estate investor's yearly expenses. Understanding current tax laws can be complicated and take time away from the business at hand. Sharp real estate investors retain the services of a qualified, reputable accountant to handle the business's books. The costs associated with the accountant can be negligible when compared to the savings a professional can bring to the business.

Find Help
Learning the real estate investing business is challenging to someone attempting to do things on their own. Effective real estate investors often attribute part of their success to others - whether a mentor, lawyer or supportive friend. Rather than risk time and money tacking a difficult problem, successful real estate investors know it is worth the additional costs (in terms of money and ego) to embrace other people's expertise.

Build A Network
A network can provide important support and create opportunities to a new or experienced real estate investor. This group, comprised of a well-chosen mentor, business partners, clients, or members of a non-profit organization, allows investors to challenge and support one another. Because much of real estate investing relies on experiential based learning, savvy real estate investors understand the importance of building a network.

Conclusion
Despite abundant advertisements claiming that real estate investing is an easy way to wealth, it is in fact a challenging business requiring expertise, planning and focus. In addition, because the business revolves around people, investors benefit in the long run by operating with integrity and by showing respect to associates and clients. Tough it may be relatively simple to enjoy short-lived profits, developing a long-term real estate investing business requires skill, effort and these 10 important habits.

from Investopeida.com

Happy Riches

How To Make A Million Dollars Online Fast ...

How To Make A Million Dollars Fast.. 

1    1.   Open a number of different  email accounts

2.  2   Send out an email to many addresses discussing the proceeds of a proposed will

3.  3   Give the email some gravitas by declaring that the sender is a devoted Christian

4.  4   Provide an email address for the recipient s to respond

5.  5  Wait for recipients who are greedy for money to respond

6.  6  When recipients respond get them to forward their bank account details

7.  7  Once bank account details are forwarded, begin to raid their account.

Just in case you are contemplating the idea, this is a WARNING that the GREEDY end up being numbered among the NEEDY.

Example of email mistakenly sent to me…or more that likely….sent out to many recipients seeking those whose need is such they are blinded by their greed.

From: Bolden, Jaszmine
Sent: Sunday, April 14, 2013 9:41 AM
To: Bolden, Jaszmine
Subject: 

I am Mrs. Kimberly Erick , a devoted Christian. I have decided to donate to you the sum of 8.5M USD to help me accomplish my dream because of my health, Everything is available. Please respond to this email ( kimberlyerick@rogers.com ) for more details.

BEWARE: This is JUST ANOTHER SCAM from the online scam club.

 If you want to know how to become rich, there are better ways. True wealth is found when you discover the secret of the rich.

www.happyriches.com

10 Ways To Earn Money Without Paying Tax or 10 Ways To Make Tax Free Money In The USA

10 Sources Of Nontaxable Income

from Invetopedia.com

The Internal Revenue Service defines income as any money, property or services you receive - and Uncle Sam wants a bite of practically everything. The government says that all types of income are taxable unless specifically excluded by law. This article will describe a few of the more common categories of nontaxable income.

Income That Isn't Taxed
1. Disability Insurance Payments 
Usually, disability benefits are taxable if they come from a policy with premiums that were paid by your employers. However, there are many other categories of disability benefits that are nontaxable.

• If you purchase supplemental disability insurance through your employer with after-tax dollars, any benefits you receive from that plan are not taxable.
• If you purchase a private disability insurance plan on your own with after-tax dollars, any benefits you receive from that plan are not taxable.
• Workers' compensation (the pay you receive when you are unable to work because of a work-related injury) is another type of disability benefit that is not taxable.
• Compensatory (but not punitive) damages for physical injury or physical sickness, compensation for the permanent loss or loss of use of a part or function of your body, and compensation for your permanent disfigurement are not taxable. 
• Disability benefits from a public welfare fund are not taxable. 
• Disability benefits under a no-fault car insurance policy for loss of income or earning capacity as a result of injuries are also not taxable

2. Employer-Provided InsuranceThe IRS says that "generally, the value of accident or health plan coverage provided to you by your employer is not included in your income." This could be health insurance provided through your employer by a third party (like Aetna or Blue Cross) or coverage and reimbursements for medical care provided through a health reimbursement arrangement (HRA). Furthermore, employer and employee contributions to a health savings account are not taxable. Employer-provided long-term care insurance and Archer MSA contributions (a type of medical savings account) are also not taxable.

3. Gift Giving of Up-to $13,000; Gift Receipt of Any AmountJust as the IRS defines all income as taxable, except that which is specifically excluded by law, it defines all gifts as taxable, except those specifically excluded by law. Thankfully, there are many gifts that aren't taxable, and any tax due is always paid by the gift-giver, not the recipient. (Note that a prize is not the same as a gift. Read Winning The Jackpot: Dream Or Financial Nightmare? to learn more.)

Perhaps the most well-known exclusion is that individuals can gift up to a certain amount per donor per year without the gift being taxable. For example, each member of a married couple could give each of their three children $13,000 in 2010 and 2011. The parents would gift a total of $78,000, and none of that gift would be taxable for either the parents or the children. Each child would receive $26,000 of nontaxable income.

The following types of income are also considered nontaxable gifts:

• Tuition or medical expenses paid on someone else's behalf
• Political donations
• Gifts to charities (charitable donations) - in fact, these are tax-deductible, meaning that they reduce your taxable income by the amount of the donation. (Learn more in It Is Better To Give AND Receive.)

An important exception to this rule is gifts from employers. These gifts are usually considered fringe benefits, not gifts, and are taxable. A small gift worth less than $25, such as a holiday fruitcake, is an exception to the fringe benefit rule. (You might want to check out Top 7 Estate Planning Mistakes.)

To prevent tax evasion, the IRS also says that the gift tax applies "whether the donor intends the transfer to be a gift or not." For example, if you sell something at less than its market value, the IRS may consider it a gift. An accountant can provide you with tax-planning advice to help you avoid triggering the gift tax and let you know when you should file IRS form 709, United States Gift (andGeneration-Skipping Transfer) Tax Return.

4. Life Insurance Payouts If a loved one dies and leaves you a large life insurance benefit, this income is generally not taxable. However, be aware that there are some exceptions to this rule in more complex situations. IRS publication 525: Taxable and Nontaxable income, describes these exceptions.

5. Sale of Principal ResidenceIndividuals and married couples who meet the IRS's ownership and use tests, meaning that they have owned their home for at least two of the last five years and have lived in it as a principal residencefor at least two of the last five years, can exclude from their income up to $250,000 (for individuals) or $500,000 (for married couples filing jointly) of capital gains from the sale of the home. 

6. Up to $3,000 of Income Offset by Capital LossesIf you sell investments at a loss, you can use your loss to reduce your taxable income by up to $3,000 a year. Capital losses can even be carried over from year to year until the entire loss has been offset. For example, if you sold investments at a loss of $4,500 in 2011, you could subtract $3,000 from your taxable income on your 2011 tax return and $1,500 from your income on your 2012 tax return.

7. Income Earned in Nine StatesUnder the U.S.'s federalist system, each state is able to make many of its own laws. So even though most income is taxable at the federal level, and most states also levy a state tax on income, nine states - Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington and Wyoming (as of 2009) - have chosen to not levy a state income tax on their residents. This tax break encourages people to vote with their feet and move to these states where they will be able to keep more of their income. (Which states are tax-effective retirement locales? It depends on the source of your retirement income, read Finding A Retirement-Friendly State.)

8. Corporate Income Earned In Five StatesSome states also encourage corporations to locate there by not taxing corporate income. There are no corporate taxes in Nevada, South Dakota, Texas, Washington and Wyoming. This tax break can encourage businesses to locate in these states, which in turn can help improve the overall economic climate in these states.

9. InheritanceThe estate tax, also known as the death tax, seems to always be in flux. This tax tends to unfairly penalize the beneficiaries of the wealthy, as estates with values of up to a couple million are usually exempt from the estate tax. Here are the estate tax levels from 2005 to 2011: 

Year	Amount Exempt from Estate Tax	Estate Tax Rate on Amount Exceeding Exemption
2005	$1.5 million	47 %
2006	$2 million	46 %
2007	$2 million	46 %
2008	$2 million	46 %
2009	$3.5 million	45 %
2010	unlimited	35 %
2011	$5 million	35%

While the estate tax technically falls on the estate, it really affects the beneficiaries of the estate. But if you are the beneficiary of an estate that falls into the exempt category, you'll get all that income, tax free. And if you inherit an estate worth more than the exemption, you'll still get the exempt amount tax free.

10. Municipal Bond Interest Most of the time, when you invest in bonds, you have to pay federal, state and/or local tax on theyield you earn. However, when you earn money from municipal bonds, the proceeds are usually tax-free at the federal level and also tax-free at the state level if you live in the same state the bonds were issued in. This tax exemption applies whether you invest in individual municipal bonds or purchase them through a municipal bond fund.

Although municipal bonds generally offer a lower rate of return than other types of bonds, when you consider their after-tax return, you may end up ahead by investing in municipal bonds. Municipal bonds are generally recommended only for higher-income individuals and married couples who fall into the 28-35% federal income-tax brackets. (Investing in these bonds may offer a tax-free income stream but they are not without risks, see The Basics Of Municipal Bonds.)

Conclusion: Arbitrary TaxationTaxes discourage all activities that are taxed, so why has the IRS chosen to exempt these and a few other sources of income when it generally tries to tax everything? The answer to this question varies, depending on your political views, but for whatever reason, the government has decided to eliminate or dramatically reduce taxes in certain areas to encourage certain activities that it thinks will benefit the country, such as home ownership and investment, and reduce the risks associated with these activities. Why the government taxes the income you earn at work, but not life insurance, is anyone's guess. (Learn the logic behind the belief that a reducing government income benefits everyone, readDo Tax Cuts Stimulate The Economy?)

 

www.happyriches.com

10 Options Strategies YOU Need To Know If You Are Going To Make Money Trading

10 Options Strategies To Know
Too often, traders jump into the options game with little or no understanding of how many options strategies are available to limit their risk and maximize return. With a little bit of effort, however, traders can learn how to take advantage of the flexibility and full power of options as a trading vehicle. With this in mind, we've put together this slide show, which we hope will shorten the learning curve and point you in the right direction.

1. Covered Call
Aside from purchasing a naked call option, you can also engage in a basic covered call or buy-write strategy. In this strategy, you would purchase the assets outright, and simultaneously write (or sell) a call option on those same assets. Your volume of assets owned should be equivalent to the number of assets underlying the call option. Investors will often use this position when they have a short-term position and a neutral opinion on the assets, and are looking to generate additional profits (through receipt of the call premium), or protect against a potential decline in the underlying asset's value.

2. Married Put
In a married put strategy, an investor who purchases (or currently owns) a particular asset (such as shares), simultaneously purchases a put option for an equivalent number of shares. Investors will use this strategy when they are bullish on the asset's price and wish to protect themselves against potential short-term losses. This strategy essentially functions like an insurance policy, and establishes a floor should the asset's price plunge dramatically.

3. Bull Call Spread
In a bull call spread strategy, an investor will simultaneously buy call options at a specific strike price and sell the same number of calls at a higher strike price. Both call options will have the same expiration month and underlying asset. This type of vertical spread strategy is often used when an investor is bullish and expects a moderate rise in the price of the underlying asset.

4. Bear Put Spread
The bear put spread strategy is another form of vertical spread. In this strategy, the investor will simultaneously purchase put options as a specific strike price and sell the same number of puts at a lower strike price. Both options would be for the same underlying asset and have the same expiration date. This method is used when the trader is bearish and expects the underlying asset's price to decline. It offers both limited gains and limited losses.

5. Protective Collar
A protective collar strategy is performed by purchasing an out-of-the-money put option and writing an out-of-the-money call option at the same time, for the same underlying asset (such as shares). This strategy is often used by investors after a long position in a stock has experienced substantial gains. In this way, investors can lock in profit without selling their shares.

6. Long Straddle
A long straddle options strategy is when an investor purchases both a call and put option with the same strike price, underlying asset and expiration date simultaneously. An investor will often use this strategy when he or she believes the price of the underlying asset will move sigificantly, but is unsure of which direction the move will take. This strategy allows the investor to maintain unlimited gains, while the loss is limited to the cost of both options contracts.

7. Long Strangle
In a long strangle options strategy, the investor purchases a call and put option with the same maturity and underlying asset, but with different strike prices. The put strike price will typically be below the strike price of the call option, and both options will be out of the money. An investor who uses this strategy believes the underlying asset's price will experience a large movement, but is unsure of which direction the move will take. Losses are limited to the costs of both options; strangles will typically be less expensive than straddles because the options are purchased out of the money.

8. Butterfly Spread
All the strategies up to this point have required a combination of two different positions or contracts. In a butterfly spread options strategy, an investor will combine both a bull spread strategy and a bear spread strategy, and use three different strike prices. For example, one type of butterfly spread involves purchasing one call (put) option at the lowest (highest) strike price, while selling two call (put) options at a higher (lower) strike price, and then one last call (put) option at an even higher (lower) strike price.

9. Iron Condor
An even more interesting strategy is the iron condor. In this strategy, the investor simultaneously holds a long and short position in two different strangle strategies. The iron condor is a fairly complex strategy that definitely requires time to learn, and practice to master. (We recommend reading more about this strategy in Take Flight With An Iron Condor, Should You Flock To Iron Condors? and try the strategy for yourself

10. Iron Butterfly
The final options strategy we will demonstrate here is the iron butterfly. In this strategy, an investor will combine either a long or short straddle with the simultaneous purchase or sale of a strangle. Although similar to a butterfly spread, this strategy differs because it uses both calls and puts, as opposed to one or the other. Profit and loss are both limited within a specific range, depending on the strike prices of the options used. Investors will often use out-of-the-money options in an effort to cut costs while limiting risk.   From http://www.investopedia.com

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