The Secret Formula to Create Wealth

Do you want to know the secret formula for becoming wealthy?
When I saw this formula for losing weight, I knew it had an application that would fit producing results in any area of life, from running a marathon to having a great realationship, and was the same formula for creating wealth.

You need to know I did not invent this. Some of my wealth concepts are original, but they are based on proven results. This came to me in an email from Susan Thompson and she said it was created by 'Abdu'l-Baha. I know from my experience it really is the secret formula for success in any endeavor. Ready?

KNOWLEDGE + VOLITION(Decision) + ACTION = RESULTS

If you want results, first you need to learn about the subject matter. That's what's so great about a good book, and my Wealth On Any Income book is great, based on what others have said. With the right knowledge, you've got one major piece of the puzzle in place.

But knowledge alone won't produce results. My mentor used to say, “Knowledge is the booby prize.” Knowledge alone produces nothing.

The next thing you need is volition, which is the will to make it happen. Volition also includes a decision. Once you have truly made a decision, the universe conspires to support you in achieving your goal.

And once you know what to do, and you decide to make it happen, the final step is ACTION. This is what allowed me to go from working and earning $5000 per month to a $25,000 per month passive income.

You can get the knowledge for $25. Just send an email to me at Rennie@WealthOnAnyIncome.com and I will explain how to get a fully updated and revised version on my award-winning, best-selling book. As a reminder, 100% of the profits from my book sales, presentations and coaching are donated to www.ShelterToSoldier.org

Create Wealth and Save Lives at the same time

My wife Dianne happens to be the chairperson of the Berkshire-Hathaway Home Services Charitable Foundation in Southern California. A real estate agent recently brought to her attention a charity that I am fully behind. It is www.ShelterToSoldier.org

This charity takes dogs from high kill shelters and trains them to be service dogs for soldiers that return from war with Post Traumatic Stress Disorder (PTSD) and/or Traumatic Brain Injury (TBI).

100% of the profits from an investment in any of the Wealth On Any Income products, programs, or my coaching are used to benefit Shelter to Soldier™; a 501c3 non-profit organization

Every 63 minutes a U.S. Veteran commits suicide. That is an average of 23 precious lives every single day. And every 11 seconds, an animal is euthanized in the United States.

Your investment in any Wealth On Any Income program creates the donations that can change these statistics. You will be supporting a program that provides services for our troops at home and helps to save our 4-legged angels who have no voice.

  

These dogs are saving the lives of the people who protect our freedoms. For more information on this charity you can go to http://www.SheltertoSoldier.org

You can learn how to create wealth and at the same time support war veterans and rescue dogs that might otherwise die.

I do not yet have all of my products, programs and coaching information loaded on my website, but you can see a couple of items at https://inverlife.refersion.com/c/46a63 

 

Sincerely,

Rennie

Credit Unions for Home Loans

Based on a recent article in the Los Angeles Times, it appears credit unions have been coming into the home lending business for several years, and they are competing well against the big banks like Wells Fargo and Chase. And membership in the credit unions is not limited to the small groups of the past.

As an example, the Navy Federal credit union, which is the nation's  largest, in March 2015 closed over $1 billion in home loans. And membership is not limited to navy personnel. It is open to all military branches, both active and retired military, civilian employees, contractors and all sorts of family members. Even partners who are living together and are unmarried can be eligible.

And they offer low down payment programs of the FHA (3.5% minimum), zero-down payments, and no private mortgage insurance premiums. You might think this would lead to higher loan loss ratios, but it does not. The overall serious delinquency rate as of March was less than one percent (.57%). They have been following the guidelines of the "ability to repay" years ahead of the requirements congress enacted.

While the maximums might not fit houses in large metro areas of CA or NY at $650,000, it would still be a fit for most areas in the United States. The next time you go shopping for a home loan, check out credit unions and see if you qualify to be a member.

Rennie

Bad Address Creates Credit Score Problem

In a recent Los Angeles Times column (Sunday, February 15, 2015) someone wrote into Liz Weston about how she applied for a store credit card six months earlier, and apparently the creditor input the wrong address from her application.

            When she called the store to make her first payment, she was told she needed to wait until her card arrived and had her account number before she could make a payment. But due to the wrong address the card and later statements never showed up and it was referred to collection.

            She wanted to know what grounds she had to dispute this.

            I found the reply satisfying. The writer was told the Fair Credit Billing Act requires a creditor to notify the account holder their rights to dispute errors. In addition statements are required to be sent when there is activity, such as a payment due. Based on the wrong address none of these requirements appear to have been met.

            On that basis she could argue that the lender was in violation of the federal law by mailing to the wrong address, and her credit score was therefore damaged.

            Once the store was notified of the error of the wrong address, it should have called off the collection and fixed the problem.

            At this point it would be appropriate to contact the Consumer Financial Protection Bureau at www.ConsumerFinance.gov for help in resolving the dispute with the creditor.

            In addition it was recommended that she contact the credit bureaus and order copies of her reports and dispute any negative information.

            More information and help can be found at www.Credit.com which was created by Gerri Detweiler.  The last step would be to hire a consumer law attorney that can be found at www.NACA.com if the lender refuses to remove any derogatory information.

            Hopefully you never need this information, but here it is in case you do.

Rennie

Two dozen free gifts

 Hi Folks,
I am always excited to share with you some great resources to help you succeed in all areas of your life, not just real estate and finance.  

  
So I am really excited to share with you a cool event that I'm participating in with other amazing coaches, authors and speakers where we are providing  you some of our best tools and techniques, for free! 
  
Get Your Year in Gear Giveaway  
FREE GIFTS

  

My fellow colleagues realized that we would love to be able to help each other grow our influence so we created this event where we each offer a gift in our own expertise.  
  
You can choose to download as many gifts as you want, in whichever area that could help you in your life. 
  
I'm personally giving away the updated version of my Wealth On Any Income book and my other wonderful colleagues are sharing information and products on a variety of topics:   

• Finances – creating wealth, income mindset, soulful money
• Health – losing weight, having more energy
• Personal Growth – reaching goals, success mindset, happiness, joy
• Relationships/Family  – manifesting love,  housework,  family issues, elder care
• Coaching – coaching techniques; strategies for building your coaching business, income, and/or email list
• Business – attracting clients, sales training, starting your own business, online marketing

  
I know there is something there just for you, so have a look at it. And even just clicking my link will help me. Every click I receive moves my giveaway higher up on the page. So if you could please do me this favor and who knows, you could find a freebie there that really makes a difference in your biz and life this year. 
  
So, Get Your Year in Gear and click on FREE GIFT LINK
  
Enjoy our gifts to you. 

Rennie

Edwin, lucky retirement picture

Can luck play a part in retirement? In speaking to one of my neighbors, a retired dentist I’ll call Edwin, I asked how he planned for retirement. The answer appeared haphazard. Edwin is 92 and has been retired for about 20 years.

Back in 1960, when he was about age 38, a friend of his had built a couple of apartment buildings in the Palms area of Los Angeles. He offered Edwin the chance to own half of the next 7 unit building he was constructing for a $6000 investment. To a young dentist raising a family that was a lot of money. But Edwin was able to borrow $6000 against his life insurance and made the investment. While it didn’t pay much for the first 10 years, the profit did grow. By the 1970’s Edwin was receiving about $1000 per month. Now the building is paid off it is generating about $4000 per month profit at this point.

In addition to his social security, and income from the apartment building, Edwin has income from selling his dental practice, income from a Bank of American corporate bond, and about $450 per month from an IRA. Edwin has always been a conservative spender and avoided wasting money on the latest fads or gadgets. He lived a comfortable life, but not an extravagant one.

Edwin told me he didn’t really think about retirement until he was in his 70’s, and he’s in good health too. Aside from the usual medications that someone at age 92 might take, he exercises 1 hour each morning, swims, plays golf 3-6 times per month, and walks the neighborhood. Both from the inside, and how it looks on the outside, life for Edwin is pretty good, even with haphazard retirement planning.

The Wealth On Any Income Internet course is doing well with about 22 enrolled. If you would like information on the next course in January, please let me know.

Rennie

To Track or Not to Track, that is the question

This week I received an excellent question from a participant in my Wealth On Any Income Internet course:

We are having some challenges both getting onboard with the spending plan. I see the value because this is similar to how I tracked my finances when I was single. I like seeing trends and making changed based on that. However, my husband doesn’t want to feel like a miser, or feel like he shouldn’t be allowed to enjoy his money and spend it as he wants. We do save a substantial amount each month. He says, “I could die tomorrow and don’t want to waste the time to figure out where every penny is going.”

This is an excellent question/concern and I saw right away my next blog topic.

In a relationship, it's not crucial for both parties to track spending, BUT both parties need to be agreement on the goals, and "major" spending decisions should be shared and agreed to. You can do the tracking and Jay can operate on an allowance. He can do whatever he wants with that and doesn't have to track anything. Only the amount of the allowance is accounted for. AND it would be a good idea to come up with another term instead of allowance, like Spending Fund, Fun Money Account, Anti-Budget Account, Jay's Fund...

When I started this practice many years ago I noticed things that I could not have been aware of prior. I would have conversations about eating healthy, buying more fruits and vegetables at the market and so on. At the time I said I wanted to spend $300 at the market.

I also set aside a spending goal of $300 for meals out. What I noticed, because I tracked it AND measured the level of pleasure I got from where I spent my money, was that I had a large surplus from the amount I wanted to spend at the market, and over spent on meals out. The point being my actions were not in alignment with what I said I wanted.

That brings up the need to make a choice: Either I do want to buy, prepare and eat healthy food, or I don't. What I realized is that I don't want to cook and I don't want to clean up. I do want to have a conversation with my wife without jumping up and down from the table. (I forgot a serving spoon; I forgot a napkin; oh, we need the salt, I’d like more iced tea…) I do want to be served and I chose to SPEND more money eating out. This is what was important to me.

Granted there are healthy eating choices when I go out, and I can do that too, but the main point is that you can't make decisions without accurate information. This has NOTHING to do with penny pinching. This DOES have to do with spending your money in the ways that you enjoy consciously, not unconsciously.

Yes, I do say you can live within your income in 90 days, but that's not your issue. Your issue may be to save even more money per month and make investments that bring financial freedom to the both of you in 8 years instead of 10 years. And the tracking can end when you've developed the habits that you are sure are taking you where you want to go.

I will have to warn you that once you start the process, it could be difficult to give it up. After I had about $5m invested I said, ”I don't need to track my spending any longer. The habits and choices are set, and I am happy with them.” However, it took about two years more before I could actually drop the habit of tracking my spending. Again, this is what the wealthy do, whether they do it themselves or they have someone else do it for them. I hope this addresses your concern.

By the way, I've seen the ledger that John D. Rockefeller used when he was 11 years old. He tracked every penny that came into his life, and where every penny went. (In 1850, a penny actually had some value.) With Standard Oil he became one of the wealthiest men in the world, but tracking where money was coming from and where money was going are the habits that supported his business growth.

By the way, there are many things you don't have to track. The only things to track are where the money leaks out during the month, like meals out, groceries, maybe gasoline, clothing, etc. If you only buy clothing 4 times per year, there's no point to track that. If someone goes out shopping for clothing several times per week there is another issue to look at, and it's not about budgeting.