Skip to main content

Wealth File #13 Rich people focus on their net worth. Poor people focus on their working income.

The true measure of wealth is net worth, not working income.

Net worth is the financial value of everything you own. To determine you net worth, add up the value of everything you own, including your cash and investments such as stocks, bonds, real estate, the current value of your business if you own one, the value of your residence, if you own it, and then subtract everything you owe.

Net worth is the ultimate measure of wealth because, if necessary, what you own can eventually be liquidated into cash.

Remember: What you focus expands. "Where attention goes, energy flows and results show."

By tracking your worth, you are focusing on it, and because what you focus on expands, your net worth will expand.

Declaration: "I focus on building my net worth!"
Touch your head and say.. "I have a millionaire mind!"

Comments

Post a Comment

Popular posts from this blog

Maximizing Your Profits with Scoring

SETTING YOUR MAXIMUM INTRADAY TRADING LOSS First things first: set a max intraday trading loss. There will be days when you just do not have it. Why do you think coaches pull their players when they are not playing well? They are more harmful on the field than off. When you are underperforming, you are hurting your team and your trading business. You need a system to yank yourself over to the bench. A stop loss is your answer. TRADING BASED UPON THE TIME OF DAY A good trader makes note of what time of day it is, when he trades most profitably, and adjusts his trading to fit such times. Your numbers at the end of the month will not reflect your true trading potential. Make the most trades with the most size during the trading periods that statistically are most profitable for you. Money saved during your weaker trading periods is money earned. Consistency The fact is that most trades you make will start working for you right away. But the new traders also hold stocks that are trading ag...
Post a Comment
Read more

INSPIRE COOPERATIVE AND PERSONAL ACTION

There are essentially two kinds of people of action. One might be called the caretaker type and the other the promoter or salesperson type. Both types are essential in business, industry, and finance. One of them is known as a dynamo while the other is often referred to as a balance wheel. Once in a great while you find someone who is both a dynamo and a balance wheel, but such a personality combination is rare. Most successful business organizations are made up of both types. The balance-wheel type who does nothing but compile facts and figures and statistics is just as much a person of action as the one who gets on a stage and sells an idea to a thousand people by the sheer power of their active personality. To determine whether or not someone is a person of action, it is necessary to analyze both their mental and their physical habits. The world pays you for what you do and not for what you know. That statement might easily be misconstrued. What the world really pays you for ...
Post a Comment
Read more

TIME

Time is the law of hypnotic  rhythm. The lapse of time required to give permanency to thought habits depends upon the object and the nature of thoughts. Time divides all thought habits into two classes, negative thoughts and positive thoughts. One's individual thoughts are of course constantly changing and being recombined to suit the individual's desires, but thoughts do not change from negative to positive or vice versa except throught voluntary effort on the part of the individual. Time penalizes the individual for all negative thoughts and rewards him for all positive thoughts, according to the nature and purpose of the thoughts. If one's dominating thoughts are negative, time penalizes the individual by building in his mind the habit of negative thinking and then proceeds to solidify this habit into "permanency," of course, refers to the natural life of the individual. In the strict sense of the term, nothing is permanent. Time converts thought habits into wh...
Post a Comment
Read more