Success starts in the mind, whether it be business, relationship, career or financial. First, you have to decide what it is that you really want. Next, you have to believe it’s possible, you deserve it and that you can achieve it. Then you must begin with a plan and must focus on it by setting goals and by visualizing it. Finally, you have to be willing to take action with disciplined effort and perseverance. In the arena of investing and accumulating money, I know some of you believe that these stages are important. But most people seem to ignore all of the first stages. That is why most people never become financially successful. Some people save and invest their money without any clear plan, More →
Neuroeconomics: Brain and Money • 06.06.08
No money in your bank account? Blame your brain. Scientists in the emerging new field of neuroeconomics are making stunning discoveries about how the brain evaluates rewards, sizes up risks and calculates probabilities. Neuroeconomics is a combination of psychology, neuroscience and economics. It is a study on how people make decisions, how we use our brains and how the brain deals with money. In neuroeconomic experiments, full brain scans will be performed in order to compare the roles of the different brain areas that contribute to economic decision-making. It looks at the role of the brain when we evaluate decisions, categorize risks and rewards, and interact with each other. Neuroeconomists use devices, like MRIs, to observe the behavior of real people buying and selling More →
If You Had Invested $100 • 05.14.08
I just want to share with you this article I found in AOL website:
Do you ever wish you had invested in Amazon or Apple before they hit the jackpot? Nobody can predict the future, but if you went back 10 years with only $100 and the knowledge you have now, you could be a billionaire today. [Here is] how it’s possible.
Yahoo (YHOO)
Year: 1997
Jan. 1: $100
Dec. 31: $611
If you invested $100 in Yahoo stock at the start of 1997, the year of the Spice Girls, Hanson, and Titanic, you’d have $611 by the end of the year, thanks to Yahoo’s 511% return. More →
Just Decide To Become Wealthy • 05.03.08
Some people become wealthy because they decide to become wealthy. They believe that they have the ability to become financially successful. They know exactly what they want in life, they believe that they can achieve it, they set goals, write clear written plans, manage their time and then they consistently take the necessary actions that turn their dreams or beliefs into realities. They focus on the most important things so they can easily achieve their goals. They don’t make excuses, they only take action. Some people on the other hand are interested only to become wealthy, they have not yet decided to become rich. And because they are only interested, they do things half-heartedly. These people don’t know exactly what they want, their goals are not clear, they don’t have clear plans, they have not yet decided and they are not yet committed to do More →
Pareto Principle: The 80/20 Rule • 05.03.08
The Pareto Principle is the observation that most things in life are not distributed evenly. The principle was suggested by Joseph M. Juran. The Principle was named after the Italian economist Vilfredo Pareto, who observed that 80% of wealth in Italy was owned by 20% of the Italian population. After Pareto made his observation and created this formula, many others observed that this principle can also be useful in their own areas of expertise. The Pareto Principle helps us realize that the majority of results come from a minority of inputs. For example, if we apply this to sales, Pareto principle says that 80 percent of sales are made by 20 percent of the salespeople in a company and 20 percent of sales are made by the remaining 80 percent salespeople. More →
Pay Yourself First, Then Live on What is Left • 04.05.08
People who have built wealth didn’t do so overnight. They became wealthy by first setting goals and by striving to reach them with discipline. Saving is also a habit, it can be developed, you can program yourself to make saving and investing a priority. You can teach yourself not to spend more than you can earn. To get to the habit of saving money every month, immediately take a percentage of your monthly income and then pay yourself first and put it in a savings account that you don’t allow yourself to touch. Just keep saving every month and keep building that account until you’ve saved enough to move it into More →
The “I Can’t Afford It” Belief • 03.21.08
One of the most important things that I’ve learned is that if you believe that you can’t do something, it will become true. Everytime you say “I can’t do it”, you are right, because you are shutting off a part of your brain that can do it. So, instead of trying to see how you can become the person who can do, create or have this thing, this negative limiting belief reinforces you not to do something. Same thing happens when you say or think “I can’t afford it”. One way to change this negative belief, instead of saying to yourself More →
The Mind Is The Biggest Obstacle To Success • 03.18.08
Financial success starts in the mind. So even if you have the right knowledge and all the skills in investing, but if your mind is not set for financial success, you’re going to face real challenges in growing and keeping your savings and investments. Some people wait to start saving until they have some extra money lying around. Their excuse: “Not enough money”. Remember, the present state of your bank account, or your investments, or your work and your income, is just a physical manifestation of your thinking. And if you’re not satisfied with the results More →
