Hello everyone, I am absolutely amazed at the flow of traffic here. Remember there are 6 days left to win the $40 available for October. Read this post for more information

Also remember everyday there is a chance of winning money on this blog. Read that post or email me for more clarification. The more interested people are in this, the greater chance of the money bank getting bigger!
Some great business news today.

• Facebook just gained a few billion dollars! $15bil to be exact
  

• YAHOO is about to get richer (with their Alibaba IPO investment), hint hint buy YAHOO stocks

• The hijack-proof truck. This is clearly an idea that can make millions in war-torn and even many developing countries where car jacking is very rampant. Even here in the US, many big city drivers would love this, my guess is the big 3 motor companies are listening, and will either try to partner up, or steal the idea! (haha)

1) Ever wanted to buy as much bling for half the cost, then say hello to Shangby, which lets you shop for jewelry in Shanghai, China without being there.

The idea of the personal shopper is wonderful, and I can only imagine its a matter of time before they venture off and start doing the same with electronics. (or maybe someone can beat them to that! Another business idea people! Electronics, handbags/purses, those are major hits in China for cheap!
Pretty nice concept.

2) Facebook is soon getting its billions, more money for all of us right?

3) Bet against the weather and make money crazy but true, so next time your friend is so certain it’ll rain, tell them to put their money where their mouth is!

Many thanks to those who have contacted me regarding the money give away, yes it is still on! There’s $40 available for grabs this week (till end of Oct)
Remember this post from last Friday, free money, giving away money

Least I forget the BIG ANNOUNCEMENT!
Basically I plan on giving away money randomly, so pretty much any day of the month is fair game, it could be the 1st, the 10th, the 20th…how much I give away depends on the day in question, if its the 20th, then I’ll give $20, if its the 15th then the amount is $15.
Things that I could make the person do to win include making a link to my blog post, the 1st person who does that and emails the link to me wins. Feel free to email me more suggestions!

FREE MONEY!$40 for free!
and no this is not deal or no deal, I’m a good banker!!

Yup, giving away free money, and we’ll be doing this at least once a month every month!

I am very impressed by the heavy traffic and encouraging emails I have received so this month giving away money twice! Keep the comments and suggestions coming (admin@millionaireswealth.com), and Keep spreading the word cause I’ll keep increasing the budget!

• I’ll be giving away $10 to the first 2 people that are the #30th and #50th diggs on any of my posts. Paying by paypal (I’ll post screenshot afterwards to show it was paid)

Right now most of my posts are at 3 or 4 diggs, ALL you have to do to win is to be the 1st person who is #30 and after that the 1st person who is #50 to digg ANY of my post. Email me from your digg registered email, confirm your username and I’ll send to Paypal!

• I will also give away $20 to the person with the most links to my blog posts in the month of Oct, they can mention my website and link any post, any number of times on their website/blog .

Each link/mention will have to be in its own separate post.
Then they email me the links, and voila they get the $20 paid to their paypal acct.

If 2 people have the same # of links, the money will be given to the person whose website is more popular (using ALEXA ranking)
An extra $5 will be given if the person’s website ALEXA rank is lower than 80,000

Stay tuned, there is a special bonus, with even more chance of making even more money that will be announced on Monday Oct 21st. This is called The Millionaires Club after all!

If you like this post, buy me a strawberry smoothie!

No I am not but one thing that I do possess is the richness of the mind just like that and that is why I will never lack wealth, and will always be happy with my finances. Not picking on any celebrity (whisper Britney Spears) but apparently not every rich person has that and thats why given enough time, those ones will be separated from the cream of the crop who do.The one thing Oprah, Trump, Gates and Greenspan have in common other than their hefty millions and billions of dollars is the right way of thinking and that is why today even if you strip them of their money, in a matter of time they will be able to jump back up, and make even more money. Its called dreaming bigger than even your own imagination, as if there is nothing called failure and trusting that your dreams are worth something. The same old saying goes if you don’t believe in yourself, noone else will.

Give me $1000 today and I know exactly how to turn it into $10,000 and give me $10,000 and I know how to turn it into $100,000 and it goes on. I trust in myself because I personally believe that there is something greater than me (in my case God) who is watching over me, and wants me to run wild, do all the things that people say are impossible, and showing them just how easy it is to recreate dreams and make the most out of life by helping others do likewise. I believe in the power of abundance, you give and it keeps coming back to you, and so I believe money is not to be hoarded, I will never have to worry about my children, or grandchildren because even if I left them with 0 cents, they will be left with the tools on how to become even bigger millionaires. The reason being they have that template in their mind, so they’ll be able to recreate the same dream over and over and over.

3 things come to mind that if implemented right will always have you ready for life, and ready to make it in life

1) When someone tells you something is impossible, know that it is indeed possible, just that because their mind isnt programmed that way, they do not know better.

2) When the doors of opportunity present themselves in life, run right through them, never look back, but as you run right through, dont forget to leave it unlocked and create greater self value by trying to figure out how to create your own door. You say “impossible”! I say “did you even try?”

3) Smile even when you dont feel like it, it will help you win friends, make people think you are great and create a fictitious image that will only make others want to believe in you aka invest in you.

Take a look at this picture, what comes to mind?
Try to imagine what is at the top…if someone told you to get up there and find out, would you attempt it? How about if someone told you there is a treasure box full of billions of dollars, I mean pounds and Euros (we all know how weak our mighty US dollar has been lately haha)

Would it make you run up quicker?

Think of life like that, before you think of any situation as impossible or unattainable, think about the treasure box full of billions at the end of it all.

Back to my initial question, there is someone richer than all those mentioned, and that is Mexican billionaire, and the richest man in the world, Carlos Slim, maybe that will make Bush and co change the immigration policy. (joking! no political debate here pls)

More on Carlos Slim on CNN

If someone gave you a million dollars to drop one of your bad habits: smoking, daily starbucks consumption, fast food, entertainment (going out, gadgets), drinking (alcohol, blended drinks, soda), what would you do?

Of course you would take it, I think 99% of us would gladly do so immediately and the other 1% would do so after they saw the rest of us ready to mob them for not taking it!

But check this out, if you drink any type of beverage like 3x a day, you are prob spending like $3-4, in a yr thats about $1500. If you invest that even in just simple investments nothing big, thats almost $100k in 20yrs and in 40yrs you could be almost at a million!
Now that juice doesnt taste so great after all does it
How about if you smoke, a pack of cigarettes cost what? $3-4 plus tax, someone smoking a pack and a half, is spending $2-3,000 on cigarettes! Take that money and invest it in lucrative investments and you could be a millionaire in 20-30 years!

What about those who spend $100+ eating out every week, $400/month, $4800 a yr…and you wonder why its hard for you to reach millionaire status We appear to have more faith in the lottery system than we have in ourselves. There are many folks who spend $5 a day on lottery tickets, thats $150/mth, $1800 a yr! Yet the odds of winning the Mega Millions are 1 in 135145920
Yet that same person has 99% chance of reaching millionaire status 40+ years later.
How about seeing opportunities that govt has for 1st time home owners, in some cases no down payment is needed, and using that $1800 for your mortgage, pay it off in 15-30yrs, and that house whatever its valued at $200,000, $500,000 or more is ALL yours!

The best thing you can do is change your mindset, your mentality and give yourself more credit.

Here are some other ways to fast track your way to becoming a millionaire

1) From the New York Times(Read article)

2) Even motley fool feels everyone should be a millionaire! (Read article)

SmartMoney
[2-year subscription]

SmartMoney Magazine is one of the best investments you will get, they do a great job balancing the stock market with other aspects of your finances, from business ideas to setting up a retirement plan. It tells you where the highest interest high yield savings accounts, best mutual funds, it keeps you informed about the global market and how to get in.

The magazine usually costs like $20/year but amazon has it for $18 for a 2 year subscription!! Which basically means you are getting it at 75 cents a month instead of $1.67!

I dont know what you can get for 75cents in America that can give you over 1000% ROI of purchase price

Cultivate your mind, most millionaires spend a lot of time planting their seeds of positive knowledge in their soil of a mind. If you wonder why millionaires are creative, no other place to turn than in what they read. While the regular joe might read the sports headlines in the daily news, the millionaire is rushing to the business section to see if there is anything than can light up bulbs in their heads. They like to see other success stories because successful ventures are always duplicable!

For starters here is the free classic on financial wealth, you can download it here for free, its in pdf (Adobe reader) format. If there ever was a science for getting rich, this free ebook reveals the mystery. Get it here, its FREE!

Here are some of Amazon’s hottest books that are guaranteed to peak your interest and get your adrenaline pumping causing your mind to overflow with ideas.

The Millionaire Next Door:

The Surprising Secrets of America’s Wealthy

The Millionaire Next Door does a great job of showing how anyone can be a millionaire by providing evidence from millionaires that the authors interviewed. It basically shows that anyone can become wealthy just by living below their means unfortunately most of America lives at 125% of their income, which means nothing is left over at the end of the day, regardless of the amount of income they make!

The Richest Man in Babylon

The Richest Man in Babylon is a must read with timeless principles that will change your life. It was written in the 1920s and even today the stories and parables in it will have your mind going on overdrive, as you realize certain concepts remain the same. It follows the 7 principles:

1) Start thy purse to fattening

2) Control thy expenditures

3) Make thy gold mutiply

4) Guard thy treasures from loss

5) Make of thy dwelling a profitable investment

6) Insure a future income

7) Increase thy ability to earn

It says to live off 70% of your income, save 10%, give away 10% and invest 10% n profitable ventures.

More Wealth Without Risk

This book More Wealth without Risk along with his other book below Financial Self Defense are like the must have bible of financial wealth! If you want principles you can use today and save yourself hundreds or thousands within 24hrs, then you have to read this. They saved me thousands immediately and are still saving me money, my insurance guy hates me. Every aspect of life is covered, from buying/selling cars, to making money on the side easily, to setting up your own business, to forcing your car insurance to remove certain double coverages that you dont need, to saving on credit cards, investing in no load funds, buying real estate, even land, to hiring your children and getting a right off.

Financial Self Defense

The stellar amazon reviews speak for themselves. If you ever wanted to start on the right path of financial success, and accumulate money, wealth and become rich, then this is a great companion to his other book listed above.

If you like this post, buy me a strawberry smoothie!
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How hard can it be to come up with a business idea that can make money, rake in millions?

The following scenarios show that it is quite easy (article links are in orange)

1) Every thing that you see as a problem, is an opportunity to start yours.

All he wanted was a used Land Rover, but he found something better

2) It is ok to study the big dogs and copy them, but be creative. Dont limit your vision within the boundaries of your own country, the world is your oyster! What works in your American city can work in any city around the world! Export your idea! If the business is saturated here, take it somewhere that hasnt heard of the business! Think of how you can adopt it to fit that culture

They made millions copying ebay, facebook and others
3) Remember its even easier to keep it simple.

This dad sure did!

4) Remember what I said about exporting ideas, this UK idea is begging for someone to transplant it into the US, any takers?

Drinks blended and vended on demand

5) Folks will pay you to take their stuff! (A must read article!)

Guaranteed they are recycling, but what if they resold them in say college towns and the likes. You can start a business like this, nothing much to it, other than having a truck to haul away the mattress, start off with 1 or 2 workers that you pay by the hour.

• Lets say you have 500-1000 customers in a mth (starting off), thats $50,000-$100,000/mth

pay the workers $10/hr working 40hrs/week, 240hrs in a month, 1 worker will cost you $2400, 2 will cost you $4800

• Factor in money for gas and maintenance of 1 truck, maybe thats $2000

• Money for storage place, say $1000/mth
• Advertising costs maybe $5000/month

• So minimal starting costs monthly are about $10400-$12800
• Now imagine if 75% of the mattresses were still in good enough shape to sell, and most are, and you sell each one for $15. its 75% of 500, thats 375 mattresses which is $5625. If its 75% of 1000, thats 750 mattresses which is $11,250

Now lets do the math!

With 500 mattresses

COST: $10,400

REVENUE: $50,000 (mattress fee) +$5625 (mattress resale)

PROFIT: $55,625-$10400= $45,225 monthly! Thats $542,700 yearly and thats a low estimate seeing that your business should be getting better and bigger over the months!

With 1000 mattresses

COST : $12,400

REVENUE: $100,000 (mattress fee) + $11,250 (mattress resale)

PROFIT: $111,250-$12,400=$98,850 monthly! Thats $1,186,200 yearly and like I stated above, still a low estimate!

One man’s trash is another’s treasure!

Any takers? I might have to jump on my own business idea myself, because truthfully only thought this one up as I was reading that article wondering why they aren’t reselling them!

Some might wonder why I even gave it away, well frankly because there is a ton more million dollar ideas where it came from, my wisdom is just like King Solomon’s! Of course my clients for whom I do personal consulting with usually get the better ones Anyone interested in this service feel free to contact me at admin@millionaireswealth.com

Dont forget to check out the archives, there’s a wealth of information already.

There is no discussing wealth without touching on the issue of credit! While it would be wishful thinking to expect everyone reading this to have good credit, I know many do not, and I will spend time in the upcoming weeks discussing how to turn around your credit in as little as 2 weeks!

Millionaires never use cash, and there is a reason for it! A millionaire understands one thing that much of society doesnt, and what the credit card companies do not want you to know, which is how to get them to pay you, and make money all tax free!

Look at the fine print regarding the benefits of your credit card, are you getting Cash back? If you arent then, you might need to reconsider.

There are many cards that offer cashback, American Express Blue Rewards is one which offers as much as 1-5% back. Basically if in a year your total expense on your credit card is $50,000, you could receive a nice fat check of $2500 at the end of the year from American express, and this money is not taxable as it is not income but a return of the money which you have already dished out! Of course this is only effective when you have no balance at the end of each cycle and have to deal with interest.

How cool is that? Of course no the $2500 isnt for you to splurge but think if you took that $2500 and invested in a mutual fund earning 20% a yr, in 10 years, your $2500 would now be worth $15,479.34

Let’s not even talk about if you took it and invested in the emerging markets (which we also plan on discussing in depth because its a windfall with calculated risks) that the likes of Warren Buffett invest in, we could be talking a future worth of 6 figures all from $2500 (or rather $0 since its cash back)!! its no wonder his company returns 160%.

Now you see why some get wealthy even without earning 6 figures+ while some celebrities like Mc Hammer make us shake our heads and wonder

Its easy to find things to spend money on, maybe you are taking graduate courses, paying for kids in college, business travel, house repairs…anything!!

Internet mogul John Chow talked about this on his blog, Why You Should Never Pay Cash read this for his experience.

Courtesy of our dear friends from Motley Fool.com
This is a must know formula for anyone trying to predict their future worth!


http://www.fool.com/investing/small-cap/2007/10/12/the-worlds-greatest-get-rich-formula.aspx

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The World’s Greatest Get-Rich Formula http://www.fool.com/investing/small-cap/2007/10/12/the-worlds-greatest-get-rich-formula.aspx Brian D. Pacampara October 12, 2007 You should be highly skeptical of any and all get-rich schemes … except for the super-simple formula I’m going to show you below. Because this one really works. It works so well that it’s been used by the world’s billionaires — from moguls of yesteryear such as Rockefeller and Ford to today’s tycoons Carlos Slim and Warren Buffett. But enough already. Let’s get to the formula. The formula It is, simply: FV = PV * (1+r) ^ n Where: FV = future value PV = present value r = rate of return n = time (or number of years) Compounding 101 Now, some astute finance brains will know that equation not as some mystical secret but as the “future value of money” (FVM) equation taught in college. The FVM formula simply states that your future wealth (FV) is a function of three variables: the amount of money invested today (PV), the rate of return generated (r), and the length of time in which that money is put to work (n). So maximizing future riches requires three steps. Step 1: Increase PV It takes money to make money. But by actively and consistently slivering off a portion of your earnings every month to save and invest, you’ll have more and more of that money working for you. All things equal, the greater amount you invest today (PV), the greater wealth you’ll build for tomorrow (FV). Step 2: Increase r Next, you’ll need a way to grow that capital. Historically, the stock market has been the most effective wealth-building vehicle of all. Plowing your money into a low-cost index fund wouldn’t be a bad idea. But if you really want to maximize r, you’ll need to allocate a portion of your portfolio to the best segment of the market over the past 50 years: small-cap value stocks. The reason is simple. Unlike behemoths such as $115 billion Merck (NYSE: MRK) and $190 billion Johnson & Johnson (NYSE: JNJ) — whose spectacular growth days are behind them — reasonably priced small caps have tons of room to rocket. Take a look at Fama and French data, which tracked stocks from 1956 to 2005: Value Growth Large caps 13.3% 9.7% Small caps 17.3% 8.7% Total stock market 10.5%   Not adjusted for inflation. All things equal, the greater your rate of return (r), the greater wealth you’ll build for tomorrow (FV). Step 3: Increase n The last ingredient in our super-simple wealth building recipe: maximum time in the market. Look back at the equation. You’ll see that n is an exponential function — meaning that for every year you’re not invested, you give up the awesome (almost magical) benefits of compounding. All things equal, the longer you’re invested (n), the greater wealth you’ll build for tomorrow (FV). Plug and chug To get a feel for the three-step process in action, let’s go back in time to see what kind of wealth would have been generated had someone: Invested $40,000 in the stock market Started 10 years ago Divided the money among five stocks having: market caps less than $2 billion (to screen for small size), sales growth greater than 15% (to screen for above-average opportunities), and price-to-sales ratios of less than 1.5 (to screen for a good price). Here’s what it would look like: Company Amount Invested 10 Years Ago AverageCompounded Return Over Past 10 Years Total Value of Investment Today Best Buy (NYSE: BBY) $8,000 33.9% $148,075 FTI Consulting (NYSE: FCN) $8,000 27.7% $91,892 Expeditors International of Washington (Nasdaq: EXPD) $8,000 24.2% $69,682 Florida Rock Industries (NYSE: FRK) $8,000 23.7% $66,947 Fossil (Nasdaq: FOSL) $8,000 25.9% $80,332   Total amount invested (PV) Avg. annual return of portfolio (r) Total value of portfolio today (FV)   $40,000 27.6% $456,929 By having bought into five high-quality, reasonably priced companies while they were still babies, that $40,000 stake would be worth nearly $500,000 today. Of course, you can always fiddle with the numbers to generate different levels of FV, but our objective should remain the same: Maximize PV by sticking to an investment plan. Maximize r by devoting a chunk of your portfolio to superior small caps at attractive prices. Maximize n by investing as soon as possible and for as long as possible. The final Foolish variable So don’t waste another “n.” Start plugging whopping returns into your own real-life wealth equation today. If you need a few small-cap ideas to start you off, our specialists at Motley Fool Hidden Gems can help. Advisors Tom Gardner and Bill Mann make sure subscribers get the absolute most from the FVM formula. Since the newsletter’s inception in 2003, their picks are up an average of 63%, versus 27% for like amounts invested in the S&P 500. You can see their five favorite small caps for new money with a free, 30-day trial. To learn more, click here. Fool contributor Brian Pacampara tried to get rich quick once, but his idea for a cold-air balloon never got off the ground. He owns no position in any of the companies mentioned. Johnson & Johnson is a Motley Fool Income Investor recommendation. Best Buy is both an Inside Value and Stock Advisor pick. The Fool’s disclosure policy always adds up.
Legal Information. �1995-2006 The Motley Fool. All rights reserved.
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