Happiness Creates Success.. In that order!

Written by: Joshua Gayman

90% of our long term happiness is predicted not by the external world that we live in, but by the way our brain processes the world. If we change our formula for happiness and success, what we can do is change the way that we can then effect our reality.

25% of job success is predicted by IQ.

75% of job success is predicted by optimism levels, social support levels, and ability to see stress as a challenge, instead of a threat.

The absence of disease is not health. 

Our society(schools and companies, parenting styles, management styles, motivation styles, news, etc..) operates as tho:

“If I work harder then I will be more successful, and if I am more successful, then I will be happier.”

This is broken and backwards for 2 reasons:

  1. Every time your brain has a success, you just changed the goal post of what success looks like. IE: You got good grades, now you have to get better grades. You got into a good school, now you need to get into a better school. You got a good job, now you got to get a better job. You hit your sales target, we’re going to change your sales target.”*If happiness is on the other side of success, your brain never gets there. We think if we have been successful that we will be happier, but we keep ourselves from ever getting to that state.
  2. Our brain works in the opposite order. If we can raise our level of positivity in the present, then our brain experiences a “happiness advantage.” Which means our brain at positive, performs significantly better than it does at negative, neutral, or stressed. Our intelligence rises, our creativity rises, our energy level rises. In fact, every single business outcome improves. Our brain at positive is 31% more productive than our brain at negative, neutral or stressed. We are 37% better at sales. Doctors are 19% faster, more accurate at coming up with a correct diagnosis when positive versus negative, neutral, or stressed.

***By becoming positive in the present, our brains work even more successfully, because they are able to work harder, faster, and more intelligently. This means we need to reverse the formula if we want to find out what our brains are actually capable of.

Dopamine floods into your system when you are positive. This has 2 functions:

      1. It makes you happier.
      2. It turns on all of the learning centers in your brain, allowing you to adapt to the world in a different way

*You can train your brain to become more positive.

In 2 minutes for 21 days in a row, you can re-wire your brain to work more optimistically and more successfully.

Write down 3 new things that you are grateful for over 21 days. After 21 days, your brain starts to retain a pattern of scanning the world for the positive and not the negative. Journaling about one positive experience that you have had over the past 24 hours allows for your brain to relive it. Excersize teaches your brain that behavior matters. Meditation allows the brain to get over the cultural ADHD that we’ve been creating by trying to do multiple tasks at once, and allows us to focus on the task at hand. Random and conscience acts of kindness praising or thanking someone in their social support network. (1 per day)

By doing these activities, you are training your brain just like we train our bodies, we can reverse the formula for happiness and success.

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*Stats based on study at Harvard University.

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Dollar Shun Continues – Gresham’s Law

“When a government(or governments) forcefully over value one money and under value another, the under valued money will disappear, and the over valued money will flood the circulation.” – Gresham’s Law.

How Your Taxes Can Help Build Your Wealth

Taxes are most people’s biggest expense. Therefore reducing that amount means more money immediately available to invest. The tax law is a series of stimulus packages for real estate investors and business owners.“- 

How Your Taxes Can Help Build Your Wealth
Most people view taxes as a drain on their wealth. If it weren’t for their taxes, they would have more money in their pocket, would finally be able to get ahead and could start investing.

I look at taxes very differently. I look at taxes as a way to increase cash flow. The tax law provides tons of opportunity to reduce your taxes. When you reduce your taxes, you increase your cash flow (often immediately) which can be used to increase your wealth.

Reducing your taxes goes hand-in-hand with your wealth strategy. For most people, taxes are their single biggest expense. This means that reducing their taxes results in instantly increasing the amount they have available to invest.

The Government Wants You to Reduce Your Taxes
The tax law is a series of stimulus packages for real estate investors and business owners. This is true in all developed countries.

The government wants to provide jobs and housing. To encourage others to do this for them, the government provides tremendous tax benefits to those who provide jobs (business owners) and those who provide housing (real estate investors).

Your Tax Strategy is Part of Your Wealth Strategy
Once you understand what the government wants you to do in order to reduce your taxes, you can use this information in your wealth strategy to invest in assets that not only fit with your wealth goals but also produce tax savings.

This is a powerful formula and one that can be used over and over and over again because many of the tax benefits for entrepreneurs and real estate investors produce annual tax savings.

Then, as your wealth grows, so do the opportunities for tax savings, which means not only does the cycle continue every year, it grows every year as well so your tax savings are more, your increase in cash flow is more and your wealth increases even more.

Do you see why I am so passionate about taxes? Taxes are a tremendous tool to build your wealth.

Tom Wheelwright

The First Step to Creating a Wealth Strategy

“I think it’s because many people think that their wealth vision is simply to have lots and lots of money, so defining it is a waste of time.”  

Where Will Your Wealth Take You?
Most people dream about being wealthy or play the lottery in hopes of winning millions, but few people actually have a strategy to achieve their dreams of wealth.

I hear many reasons why someone doesn’t have a wealth strategy:

– They don’t really know what a wealth strategy is.
– They don’t know how to get started.
– They think they need to wait to get started because they don’t have any money.
– They think they need to get out of debt before starting their wealth strategy.

A wealth strategy is a plan of action intended to achieve specific wealth goals.

The fact is, everyone needs a wealth strategy, regardless of goals, age, wealth, income or debt.

The First Step to Creating a Wealth Strategy
The first step to creating a successful wealth strategy is knowing where you are going. I call this Your Wealth Vision.

Your wealth vision is your picture of your ultimate lifestyle. Where do you live? How do you spend your time? What are the possibilities?

Now, we can all close our eyes for a few seconds and imagine the lifestyle of our dreams. But to truly define your wealth vision means being very detailed and specific.

For example, in just a few seconds time, we may imagine our ultimate lifestyle to include traveling. In those few seconds, we may imagine the excitement that goes with traveling, and a snapshot of a place we’d like to go, but the details probably aren’t more specific than that.

This is much different than someone who takes the time to specifically define how they see traveling in their wealth vision. For example,

– How often will they travel?
– Who will they travel with?
– Where will they travel to?
– How long will each trip be?
– Will they fly coach or first class?
– Will they stay at a hotel, rent a home or buy a home?
– What activities will do they do when they travel?

The more detailed and specific the wealth vision, the more likely it is to be reached.

Avoid This Mistake When Creating Your Wealth Strategy
Many people skip this first step.

I think it’s because many people think that their wealth vision is simply to have lots and lots of money, so defining it is a waste of time.

Plus, they are eager to move on to the next step. But, this first step is critical because you can’t get to where you’re going if you don’t know where it is you’re headed.

Once your wealth vision is defined, key pieces of your wealth strategy can come together.

For example, when you know your wealth vision, you can determine your target cash flow and your target net worth. These targets can be used to develop investment criteria so your investments work toward your wealth vision and not against it.

Your Wealth Vision
Really think about your wealth vision and the specific details. Then, put it in writing. This is the first step I always take with any wealth strategy I create.
                                                                                                                                            
Tom Wheelwright

What type of gold or silver investor are you?

If you are investing then it is important you know the difference between fundamental analysis and technical analysis to develop your strategy!!

 

 

 

 

5 Tips to Keep Your Wealth Strategy on Track

There is so much more to building wealth than making money. A Wealth Strategy is crucial. If you do not have a wealth strategy, use December to educate yourself and build one, think about what your goals are and write down a plan to get there. A wealth plan is not a “get rich quick” plan, so think education first.  -Joshua Gamen
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5 Tips to Keep Your Wealth Strategy on Track
With a new year right around the corner, it’s a good time to think about the activities that have a positive impact on your wealth strategy.
Here are 5 Tips to Keep Your Wealth Strategy on Track:
Tip #1: Avoid Winging It
Winging it means taking action without a strategy to support the action.

For example, buying gold because it seems like a good investment, or buying a rental property because it seems like a good investment.

What makes an investment a good investment is how it works toward the goals in your wealth strategy. Simply making an investment because it seems like a good investment isn’t enough – what will it do in your wealth strategy to achieve your wealth goals?

While it is great to take action, there needs to be a strategy behind the action so the actions lead to the results you want.

Winging it in a wealth strategy can set the wealth strategy behind by years – even decades.

Tip #2: Make Your Wealth a Priority
Letting your wealth strategy slip as a priority is something that can often sneak up on us.

For example, let’s say you have a goal to invest in a rental property and have a plan to look at prospective properties this month.

However, when you get the call to go look at the properties, you’re in the middle of running errands, or too busy with work, or need to finish a project. The list goes on and on. Looking at properties gets put on hold and your wealth strategy quickly falls off track.

There is always something else to do if your wealth strategy is not a priority.

Tip #3: Your Neighbor’s Plan Isn’t Your Plan
I’ve had people share with me many times that they made an investment because their neighbor (friend, co-worker, colleague, etc.) made the same investment.

What works for your neighbor will not necessarily work for you.

Your wealth strategy must be specific to you based on your likes, your dislikes, your family, your goals, your dreams, and your financial situation. To maximize the results of your wealth strategy, it must be customized to you.

Tip #4: Succeed With a Team
I always share that the 3 most expensive words in the English language are “Do-It-Yourself.”

The road to achieving your wealth goals is not always a smooth one. In fact, it is common to hit several bumps along the way.

Those who have a team are less likely to get off track when they hit that first bump, or maybe they make it to the second or third bump before turning around. Navigating with an entire team supporting you makes the process much smoother.

Build a team around you to support you and help you achieve your wealth goals.

Tip #5: Avoid Taking it to the Extreme
Taking it to the extreme means you have no balance in your wealth goals. You are trying to go at a speed that no one can possibly sustain – and that means a lot coming from me because I like things to move fast.

The challenge with going at an unsustainable speed is it all too often leads to crashing and burning, and that can be devastating in a wealth strategy.

Set reasonable goals and make your wealth building part of your everyday life.
                                                                                                                  
Tom Wheelwright

Tax Strategy is Important for Building Wealth

Understanding how taxes work is critical to growing wealth. Rule #2 of the new rules of money: Keep more money. -Joshua Gamen
Forming Your Tax Strategy
There are two big obstacles most people run into when forming a tax strategy.

Obstacle #1: What is a tax strategy?

Obstacle #2: Where do you start?

What is a Tax Strategy?
Let’s break this term down and start with strategy.

A strategy is a systematic plan of action intended to accomplish a specific goal or purpose.

The specific goal or purpose is to permanently reduce your taxes.

So, a tax strategy is a plan of action to permanently reduce your taxes.

Of course, most people are all for permanently reducing their taxes. What is typically missing in their quest to do that is the strategy piece. And it’s the strategy piece that produces the maximum results.

The strategy piece helps focus our actions and thoughts every single day on permanently reducing taxes.

It doesn’t have to take hours every day to get maximum results from your tax strategy. Instead, your strategy becomes a part of your daily routine.

Every transaction you do can have an impact on your taxes. Your tax strategy helps you think about your daily transactions in a way that gets you to your goal of permanently reducing your taxes.

Where Do You Start?
Think about planning a vacation.

Let’s say you are going to Hawaii. When you go to book your ticket, you need to know where you are departing from, right? This is your starting point.

It is impossible for you to get to Hawaii unless you know where you are starting.

The same applies to a tax strategy. You must know where you are starting. In your tax strategy, this means you must know your current financial position.

Your current financial position includes:

Your Current Balance Sheet
Your current balance sheet tells you your current net worth. It’s calculated as follows:

Your Assets (what you own) – Your Liabilities (what you owe) = Your Net Worth

When you know your current net worth, you know the exact resources available to you to use in your tax strategy. Your specific assets and liabilities help create the best path for you in your tax strategy.

Your Current Statement of Cash Flows
Your current statement of cash flows tells you your net cash flow. It’s calculated as follows:

Your Income – Your Expenses = Your Net Cash Flow

Identifying your sources of income is the starting point of identifying how to reduce the tax on that income.

Identifying your expenses is the starting point of maximizing your deductions.

Get Started
The starting point to reducing your taxes and forming a tax strategy is understanding your current financial position.

If you haven’t created your tax strategy yet, start by updating your balance sheet and statement of cash flows.

If you already have your tax strategy in place, review your current financial position regularly to identify new opportunities for your tax strategy.

Your Tax Strategy and Your Wealth Strategy
If you are like most, the single biggest expense draining your cash flow is your taxes.

When you reduce your taxes, you immediately increase your cash flow. Increased cash flow can be used to create wealth. Your taxes are a powerful way to feed your wealth strategy!

                                                                                                                                            

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