You can only fly if you jump out the nest "Wealth Building 102"
Have you ever had your dream career or situation at your finger tips, but not have the strength to close the deal? Is someone or something sucking the energy and passion out of you; hindering you from being your best? It could be a family member, girlfriend, boyfriend, job, bad habits, etc. A key part of wealth building is identifying who or what is empowering your vision and objectives; and identifying who or what is not empowering you, but hindering you. In order to master wealth building you must cut dead weight, and anything keeping you from focusing on your vision. Eventually, you will have to leave the pack behind. We all need assistance at some point in our life, but there comes a point where we have to walk by ourselves. Pursing your own dreams will allow you to be the needed example for family and friends of how to make visions and dreams reality.
One of my good friend's father use to disappear every Friday and Saturday night. He never told anyone where he was going, except for his wife. We found it strange, and people gossiped about what they thought he was doing. Years passed, and it became normal for him to not be around on Friday and Saturday. When his son and I graduated from Grambling State University in December, 1998, my friend's father said, "You can only fly if you jump out the nest." Three months later what he said made more sense. For the past 5 years, he had been attending an electrician apprentice program on Fridays and Saturdays. He achieved the title of master electrician. Last year I was at my friend's father's home. I asked him why he kept attending the apprentice program a secret. His response was, "I did not want everyone's opinion, and I needed to focus on the main thing." For the previous 20 years he was a maintenance man at an elementary school. In April, 2000 he started an electrical contractor company that generated $750,000 in revenue in 2009. I learned two lessons: 1) A trade (such as: plumber, electrician, brick mason, heating/air condition mechanic) is a profession most people ignore, but are highly profitable. You don't have to wear a Ralph Lauren suit to earn a six figure income. 2) I learned it is good to keep your visions private sometimes, at least until your vision has matured to accept criticism (confidence is important). You will be amazed at how focus you become when you believe in yourself, and your gifts. Time invested in your passion is always profitable and powerful to accomplish your visions
BLUE PRINT of Wealth Building: Phase 2
HAVE A PLAN AFTER YOUR FAMILY HAS GROWN UP AND OUT
o The second half of life is sometimes better than the first half. You can really enjoy yourself. You must identify what gives you joy, and invest in it. Most of us spend the bulk of our lives giving to others our gifts, time, and money. We have to reinvest and mange our gifts, time, and money to make the most of our wealth building. Here are points for planning your life as your family matures.
1) Follow your passion
Take classes, read books, become the authority on your passion
Keep a journal, so you can learn from your mistakes.
2) Surround yourself with people with like passions
Like minded people of all backgrounds will help you stay on course
3) Have fun with it
It is not work if you are having fun. It may not be fun all of the time, but the laughter and energy will keep you coming back every day.
Do something in your passion every day. The more activity you do in your passion the quicker you will get to operating in it daily
THE WINDOW OF TIME IS CLOSING. YOU MAY HAVE TO TURN SIDEWAYS TO GET THROUGH IT
o The window of time to build wealth for your family is closing daily whether you are building wealth are not. You can make it even if you have to squeeze through the window sideways, scarred knuckles and all. Here are the steps to make the best of your time today to build wealth. Try planning your week on Sunday, fitting these 4 points in to your calendar:
Family - If your family is important to you make time for them. Spend time with the people who represent you when you are not around. Your children and family are your legacy
Passion - If you want to feel joy, work on what you are passionate about. Participate in classes or workshops, read books; do anything that helps you paint a vivid picture of your vision in your mind, and makes it closer to reality daily.
Financial Education - This one will make you ready for the business side of your passion, and help you to teach your family the difference between being rich and having wealth. By investing in financial education you will make better financial decisions, such as picking the right mortgages, investments, car loans etc..
Career - If you are going to invest 40 hours plus a week of your time at your work place make a decision to be the best in your role. Move up the ladder or gain all the knowledge/skill you can and move on with your own agenda. Plan, your exit, but don't waste time.
Learn how to use your cell phone calendar. Find a way to invest 5 hours a week towards these 4 points. Use the calendar feature on your phone to set reminders for yourself. Wake up earlier or go to bed later. One of the wealth building habits you must master quickly is time management. You must sacrifice the infamous TV. This how TV stars build their own wealth based on you watching them. FOCUS!!
YOU HAVE TO HAVE INNER TENACITY TO HAVE OUTSIDE LONGEVITY
o Every dark day you have gone through has built your stamina for the journey ahead of you. Every challenge is an exercise to get you emotionally and mentally in shape to deal with all the issues that come with wealth. So learn from the challenges. You will get the mental six-pack you need to take the mighty blows from the world.
o Don't go out looking for problems (Stay Drama Free). Solving a problem versus running from a problem will save you time in the future. Once you learn how to solve a problem you will know the process. Problem solving skills can increase your wealth, and give you longevity.
The magic is learning the problem solving process you went through, and being able to repeat it when the problem appears again with a different twist. You will develop surgical skills for dissecting financial or personal problems quickly.
In the following weeks I will continue adding to the BLUE PRINT of Wealth Building. This approach may or may not work for you. Explore your options and start the dialogue of wealth building. You may be amazed of what will happen once you make it a priority.
One of the most common questions I hear is: "What do you think about the market?" "Or what is a good investment now?" Here is your answer:
Remaining cautious, but anticipating opportunities despite the nearly 8% pullback since the market high on April 23, the market now qualifies for a genuine 5% to 10% pullback. While the market could still have some downside remaining, we believe that the bulk of the selloff is behind us. Nonetheless, cautiousness remains the best policy. Trying to time the exact bottom of a pullback can be much like catching a falling knife. That being said, on the other end of this pullback awaits perhaps the next attractive money making run for the market before the headwinds begin to pick up later in the year. Why? This is the right place economically, given strong corporate earnings, an accommodative Fed, low inflation, and improving employment. And the good news is that after this pullback, it may also be the right time, as the fundamentals of the economy will be more aligned and in balance with stock market valuations. This scenario should provide the next springboard for the market to rally to new highs for the year, sometime during the late spring or summer, before running into the headwinds of rising rates, contested and negative mid-term elections, and tougher year-over-year earnings comparisons for companies later in the year. The key is not to lose sight of the rapidly healing economy that is in the right place to present opportunities; and with a bit of patience get us through what appears to be a healthy pullback. Soon the right time for market rewards could be here. In the meantime, practice patience, and get yourself positioned to take advantage of opportunities.
Please feel free to contact me with questions, comments or to schedule a meeting to discuss your retirement and investment concerns. I can be reached at 817.900.8455 or Jamie@grantwealthgroup.com. Visit our website: www.grantwealthgroup.com
Live Your Vision !!!!
Jamie D. Grant Wealth Management Group, LLC
1250 E. Copeland Road Suite. 540
Arlington, Texas. 76011
This research material has been prepared by LPL Financial. The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investment(s) may be appropriate for you, consult me prior to investing. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and cannot be invested into directly.
Member FINRA/SIPCCopyright 2008 - LPL Financial. All Rights ReservedSecurities offered through LPL Financial, Member FINRA/SIP
You can only fly if you jump out the nest "Wealth Building 102"
By: Jamie GrantAbout the Author(ArticlesBase SC #3325005)