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Posts Tagged ‘Wealth’
Great Depression Millionaires
One thing we have learned from history is that most people don’t learn from history.
Great Depression Millionaires
Not everyone suffered during the Great Depression. More people became millionaires during this time than in any other time in American history. Opportunities, that were not present during the 1920s economic boom times, suddenly became available. An economic downturn is a good time to start a business. Start-up costs are much lower in a recession than in boom periods. Savvy entrepreneurs edged in and positioned themselves for when the economic climate improved. Many poorly run businesses closed during the Depression years and their equipment and assets could be bought at fireside sales for next to nothing. Commercial rents were cheap and wages were low. There was also time to get the business fundamentals right before increased orders made it too hectic for the entrepreneur to build and test his business model. It was these ‘if you can dream it, you can do it’ Great Depression entrepreneurs that made the best of the crisis to provide a service, or product, for new markets.
Who were some of these maverick entrepreneurs? Some very famous names made their money during the Depression era. In Kentucky, a grandfather, called Colonel Sanders, started serving fried chicken at his gas station. By 1937 he had expended to a 142 seat restaurant due to popular demand. Two young electrical engineering graduates stared a electrical machine business in a rented garage during the 1930s. Bill Hewlett and Dave Packard officially became business partners in 1939 with only $538 in investment money.
Many people with small amounts of liquid cash were able to buy bankrupt businesses at bargain prices. Towards the end of the 1930s some business people watched the upsurge in military spending by some countries. The world was preparing for war and those that invested in companies that made in-demand products for the government stood to make lots of money. Companies dealing with shipping, military vehicles, textiles (for uniforms, tents, etc.), metals (copper, steel, aluminum and iron), shipping and petroleum products made a fortune. Well known companies that were bought at this time were John Deere, Reynolds Metals and Douglas Aircraft.
Another huge opportunity was real estate. During the Depression years, demand was low and thus prices were low as well. Visionary business people knew that real estate values would go up in the future and when they did they used the equity to leverage their business growth and expansions. Those wise folk that were not caught up in the stock market frenzy in the 1920s, and saved their cash, were well positioned to snap up bargain businesses and became millionaires as a result.
Posted in Did You Know?, Opportunities, Think ABout It, Wisdom | 
Tags: julieelder, Leadership, Wealth, Wisdom, Xyngular Opportunity, xyngularlinkedin
lev·er·age
Leverage!
One of the most powerful concepts I learned from the top mentors I have worked with is in order to create financial freedom in my life I was going to require leverage.
Truly understanding this concept is what separates the poor and the middle class from the wealthy.
The poor will learn how to use enough leverage just to get by. The middle class will wait until they can look at their life and say “Gee, I think I’m comfortable” and then stop adding leverage to their lives. But the wealthy will keep adding more and more leverage throughout their lives to create more and more wealth. Wealthy people understand that creating wealth involves leveraging their time and money. And that’s why they have a lot of poor and middle class working for them.
But what is leverage, really?
Well, my Thesaurus says it’s: influence, power, force, control, pull, weight. Simply put, leverage is doing more and more with less and less.
Less of what? Less time, less effort, less energy, less worry, less investment.
More of what? More income, more results, more value, more free time.
How many hours do we have in a day? 24hrs Yes…If you’re currently trading your TIME for MONEY, you can only exchange about 14-15 hours a day and only earn so much (and you’re literally selling your life). But if you can LEVERAGE time and have “systems” set up that run on their own, there’s virtually no limit to how much you can earn.
So… the true secret to living an abundant life is not to get a great job, but to learn how to leverage your life. This has obviously been made more and more possible by having the Internet at our fingertips…
Now there are certain forms of leverage that most people have absolutely no clue about. These are only used by a very small majority of every society who use it to live a life of abundance.
The funny thing is, the ones that don’t know about this kind of leverage are taught to believe that these things are “too risky”! Ironically, that’s exactly why they never become wealthy themselves.
How do you leverage Time?
Well, one of the most popular ways is to become a business owner – this is someone who leverages his time by having people work for him, and/or owns a network marketing business where they earn a percentage from other people’s efforts (their downline).
The other way is to be an Investor – someone who uses money as leverage.
How do you leverage Money?
You let other people’s money work for you.
* Your bank makes money with your money
* Your insurance company makes money with your money
* Your mortgage company makes money with your money.
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What’s The Secret ?
I think the movie “The Secret” holds many of the pieces to the puzzle many of us are after. After watching this film and implementing the techniques and suggestions, I started experiencing incredible benefits from actions and thoughts. This is truly an amazing movie and I highly recommend it to EVERYONE! You can watch the first 20 minutes of this movie here also I will email video so as it stay refresh in your mind.
As far as specific business is concerned, I don’t think there is one magic secret that will give you all the answers. I think that there are basics and fundamentals that will help you build a successful business. The proper mindset is the hidden key that many are looking for however. Just think of the opportunity we have before us now. We have the world at our fingertips. Literally…the World Wide Web… more like the World Wide Cash Machine. Think of how many customers or clients we can offer our services too. Truly Amazing!
All we need to know is… What is the PIN number? Once we know that we can withdraw as much as we want. Well…..what is the PIN number you might ask?
Very simply… it is Online Marketing. If you can become a master at this, then you will never have to worry about your finances again. What I mean is Effective Online Marketing – not just throwing a bunch of money into the web and generating business like that. I mean using as little cash as possible to generate the biggest return. Yes, there are still costs associated with marketing of any sort. Whether the cost is time or money, there is always a cost. What you want to be is conscious of the returns you’re receiving from your efforts.
The trap that many fall into, as I eluded to before, is that they run out of money before they figure out what works best. This is one of the biggest reasons that you should always go into a new venture with someone who is already doing what you want to do. They can provide the help and guidance that can make the difference between success and failure.
For those who join me in any business, I’d be honored to help you in this incredible journey.
Yours in Service & committed to Your Success… Julie Elder
Posted in Life's Options, Opportunities, Think ABout It, Wisdom | Tags: Leadership, Marketing, Motivation, Social Media, Wealth, Wisdom, Xyngular Opportunity
40 Billionaires Pledge to Give Away Half of Wealth
A little over a year after Bill Gates and Warren Buffett began hatching a plan over dinner to persuade America’s wealthiest people to give most of their fortunes to charity, more than three-dozen individuals and families have agreed to take part, campaign organizers announced Wednesday.
In addition to Buffett and Gates — America’s two wealthiest individuals, with a combined net worth of $90 billion, according to Forbes — 38 other billionaires have signed The Giving Pledge. They include New York Mayor Michael Bloomberg, entertainment executive Barry Diller, Oracle co-founder Larry Ellison, energy tycoon T. Boone Pickens, media mogul Ted Turner, David Rockefeller, film director George Lucas and investor Ronald Perelman.
“We’re off to a terrific start,” Buffett, co-founder and chairman and CEO of Berkshire Hathaway, said in a conference call also attended by Bloomberg and San Francisco hedge-fund manager Tom Steyer and his wife Kat Taylor, founder of One California Bank.
Buffett said he and Gates, the Microsoft co-founder, and Gates’ wife Melinda made calls to fellow billionaires on the Forbes 400 list of wealthiest Americans — in many cases, people they had never met — to try to persuade them to join the giving pledge.
“You don’t want to leave them so much money that it ruins their lives,” Bloomberg said. “You want kids who can look back and say, ‘Yeah my family helped me but I did something on my own.’”
Added Steyer: “We need to support each other. I look at this as replanting your garden so that future generations will have a full bounty of crops.”
The United States has roughly 400 billionaires — about 40 percent of the world’s total — with a combined net worth of $1.2 trillion, according to Forbes. If they all took the pledge, that would amount to at least $600 billion for charity.
The 40 names that have pledged to date have a combined net worth surpassing $230 billion, according to Forbes. Several of them have said they plan to give away much more than 50 percent of their wealth. Buffett has promised to donate more than 99 percent of his wealth.
The pledge is a moral commitment to give, not a legal contract. It does not involve pooling money or supporting one cause or organization. It’s up to each person who signs the pledge how to divvy up their wealth.
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In letters on the givingpledge.org website, the 40 billionaires explain what motivated them to follow in the footsteps of Gates and Buffett.
“I’m particularly thankful for my father’s advice to set goals so high that they can’t possibly be achieved during a lifetime and to give help where help is needed most,” CNN founder Ted Turner said. “That inspiration keeps me energized and eager to keep working hard every day on giving back and making the world a better place for generations to come.”
“My pledge is to the process; as long as I have the resources at my disposal, I will seek to raise the bar for future generations of students of all ages,” filmmaker George Lucas said. “I am dedicating the majority of my wealth to improving education.”
Gates and Buffett hatched the idea of a giving campaign in mid-2009 at a secret dinner meeting in New York with a few select billionaires. The campaign went public this June.
Buffett acknowledged that some wealthy people may find it beneficial to donate more so they can avoid or write off more taxes. But he said that’s not the reason billionaires are taking the pledge.
“Of the 20 or so people that I have talked to that have signed, not one of them has talked to me about taxes,” Buffett said.
“It may be a consideration but I think the motivation goes far, far beyond taxes.”
And of the billionaires contacted who didn’t join the pledge?
“There were a few people who gave answers that indicated their various dissatisfaction with government,” Buffett said. “A few had dynastic ideas about wealth … an intergenerational compact with family to keep that going. And there were others who said, ‘I’ve got a plane to catch and I’ll have to hang up.’”
© 2010 msnbc.com Reprints
“We contacted between 70 and 80 people to get the 40. A few were unavailable. We don’t give up on them. Every saint has a past, every sinner has a future. We’ll keep on working,” Buffett said.
Bloomberg, who made the bulk of his estimated $17.5 billion fortune from financial news and information services company Bloomberg L.P., said it didn’t make sense to leave everything to his children and have them go through life as members of “the lucky sperm club.”
