Wednesday, January 28, 2009

We all need to become millionaire

We all need to become millionaire ?

This I read it in today Star newspaper, B6 NEWS Starbiz Wednesday 28 January 2009. Sad to say, it did not provide any solutions.

I believed the answers can be found in the old classic book, the richest man from Babylon, by George Glason. The one I purchase long time ago was thought to be for Insurance Agents, I was very wrong, it did talk about insurance and how it got started. I was more on wealth creation.
I will explain in plain, lay-man language for all to consider, and see how it can apply to your own scenario? It is in story form set in the Ancient Babylon time.

Money is the medium by which earthly success is measured.
Money makes possible the enjoyment of the best the earth affords.
Money is plentiful for those who understand the simple laws which govern its acquisition.
Money is governed by the same laws which controlled it when properous men thronged the streets of Babylon, six thousand years ago.

The 7 Cures & 5 Laws

1. Start thy purse to fattening --- A part of what you earn is your to keep, Pay yourself 1st

2. Control thy expenditures

3. Make the gold multiply ---- Passive Income, Pipeline Income, Money making machines, "money make money"

4. Guard thy treasures from loss

5. Make of thy dwelling a profitable investment

6. Insure a future --- Multiple Sources of Income

7. Increase the ability to earn --- Work harder on yourself than on your job! attend classes, seminars, books etc., to increase skill & knowledge to earned

The 5 Laws
The 1st Law of Gold:
Gold cometh gladly and in increasing quantity to any man who will put by not less than one-tenth of his earnings to create an estate for his future and that of his family.

* Pay your self first!
* A part of what you earn is for you to keep!
That is put into FFA [Financial Freedom Account]

$ The 1st Cure = Start thy purse to fattening
$ The 2nd Cure = Control thy expenditures

The 2nd Law of Gold:
Gold laboreth diligently and contentedly for the wise owner who finds for it profitable employment, multiplying even as the flocks of the field.

* Money make money [money making machines]
* Multiple sources of Income
* Leverages on time & resources

These will create, what I call pipeline income instead of the usual bucket income.
Bucket income = exchange time for money!

$ The 2nd Cure = Control thy expenditures
$ The 3rd Cure = Make the gold multiply
$ The 4th Cure = Guard thy treasures from loss

The 3rd Law of Gold

Gold clingeth to the protection of the cautious owner who invests it under the advice of men in its handling.

The 4th Law of Gold

Gold slippeth away from the man who invests it in businesses or purposes with which he is not familiar or which are not approved by those skilled in its keep.

The 5th Law of Gold

Gold flees the man who would force in to impossible earnings or who followeth the alluring advice of tricksters and schemers or who trusts it to his own inexperience and romantic desires in investment.

"The Richest Man in Babylon"