Tag Archives: school

What Every Single Rich Person Has – And How To Get It

As the years roll by most people find that they continue to need to pay the mortgage or rent, buy food, and pay insurance. But There is a moment in everyone’s life, whether in college, after a life changes, or in old age, when the money coming in is less than the money that needs to go out.

Rich people don’t have this problem. While they certainly have their own financial problems coming in many different directions and flavors, lack of cashflow isn’t one of them.

However, no matter how much wealth, or how deep their pocket book, rich people all have one thing in common. This similarity runs through the tech titans, the real estate tycoons and the financial gurus. What is this key ingredient? Leverage.

Leverage, is actually a general term. There are many contexts in which leverage can be used and what it can mean. This kind of leverage to which I am referring is in the context of effort and resources – not necessarily debt.

In this context we use googles definition. Leverage is to: “use (something) to maximum advantage.”

You’re probably wondering what leverage has to do with Mark Cuban, Donald Bren, or Bill Gates. Mark Zuckerberg, for example, utilized the leverage of personal engagement to bring attention to his platform, in a way never seen before.

Leverage in the context of the rich is the act of utilizing resources in order to maximize and grow the results. The Rich in every industry have learned to use their effort, along with the effort of others to build great companies. Warren Buffet leveraged his money (in a non-debt way) to turn it into something bigger than he could have every achieved on his own by working a regular job.

So, how can you utilize this strategy of leverage? It starts with finding your “niche” or the thing that you believe you can provide the most value to people than any other. Pick thing one thing and begin building your skills and network in this area. As soon as you see some progress begin to leverage other people’s time, money, resources and connections in a way to build your brand.

Don’t make this one-sided. These should be give and take relationships in which you provide as much value or more to the other person. Often leverage involves borrowing each others skills in a net positive way. Begin learning about your area of interest and learn how best to use the power of leverage…

The Bad Thing About “Following Your Dream”

Whenever I hear someone say they’re trying to live their dream, I wonder, how many people out there have truly reached the point where they can fully pursue their interests?

I know I haven’t fully embraced my passions but over the last two years I’ve certainly gotten better. In two weeks I plan to take the second step towards pursuing “my dream”. The first step I took was this April when I took my 10 day road trip that drove me through Jacksonville, FL.

The second part of this pursuit will take place when I take my second trip there. I plan on leaving in two weeks. The trip will involve a drive from Michigan down to Nashville, TN, then a 2 day visit to Jacksonville, FL. On the way back up I plan on hitting Forsyth Park, Savanna, GA..

The question you might be asking is, why Jacksonville? That’s a very good question. It has more to do with my future than it does with my present. Currently I’m in college. I work nearby and have friends nearby. However somewhere down the road – maybe in 3 years or 10 years – I will move somewhere better.

It’s been a big thing for me to truly feel that the place I’m living in is right for me. I don’t feel most of Michigan is. For starters I like warmer weather. On top of that I’m looking for a city with more social and economic activity – unlike most of Michigan.

Explaining this often takes up a great deal of time. People will criticize my interests and goals. The dream I have certainly isn’t a common one. What should I do then?

What do you think, should I share “my dream” with the world or keep it inside my head?

Do you have a dream that most people around you think is stupid or weird? Feel free to jump into the comments below…

3 Things Wealthy People Tell Themselves

There are a lot of things that define success. Some value family, others experiences, still others put popularity and fame above everything else. But here in the U.S.(and I’m sure other countries) people emphasize wealth in the tier of importance.

When it comes to making wealth, building wealth and keeping wealth, there are certain activities and habits that set certain people apart from others. One of the biggest habits is internal dialogue. What we tell ourselves, and thus act upon, is the biggest factor that determines where we end up in life.

If you keep telling yourself that your opinion doesn’t matter or that no one will ever listen to you, this will probably come true for you. If, however, you optimistically believe, deep in your heart, that you deserve to be listened to by others, there’s a good chance more people will listen.

In the same way, what you tell yourself about money will probably, for the most part, become a self-fulfilling prophecy. So be careful. Here are three things that I have seen firsthand from a couple millionaires I have had the pleasure of meeting:

  1. You deserve the opportunity to be wealthy (if you put in the work)

Notice I didn’t say you deserve to be wealthy. This isn’t an entitlement mentality. It’s more of a self-worth manifestation. If you truly believe that you are worth it – you will put in the work. If you don’t think that you deserve a shot at becoming wealthy, you are less likely to put the work that goes into making that happen.

2.  Becoming wealthy isn’t luck, it’s a combination of work, smarts, perseverance, and time

One thing that the millionaires I have met, read from, and learned from have all had in common is a true belief in cause and effect. They never thought luck was something to lean on or be expected. While they did get lucky at certain points, they recognized that the luck was more a consequence of years of hard work, and less a result of blind chance.

3.  I don’t have to be like everyone else.

It’s true. Some people think that being like everyone else is just a given. If people sleep in to 10am, eat crappy food, and watch youtube in their free time, that doesn’t mean you have to. The truth is that most people in the U.S. as well as the world, haven’t made the true commitment to excellence in every area of their lives that millionaires have. You can be different.

These three things are just a start. Not only is it in the realm of possibility to become a millionaire, it is becoming easier than ever. Granted, it isn’t going to be easy.

How I Drove 2,300 Miles Without My License (And Why You Shouldn’t) Part 1

You might be thinking this is clickbait. Or is that a typo? No, I really did drive 2,300 miles, without my license, by myself, at 18 years old across the country. Now before I tell you how I ended up in the middle of Kansas, at midnight, with no license I need to give you some background.

In the summer of 2017 I started thinking about what I wanted to do with my life and what I wanted to become. This was around my 18th birthday in July. As the summer finished and the School year began, I started realizing that I could, if I wanted, take a trip that would give me further knowledge about what was out there.

In December 2017 I decided to follow through. During this time I was working full time as well as doing school full time so there wasn’t a lot of access time for spare planning. But I did manage to put together an incomplete document that would start me on my preparation.

Around Christmas I headed over to Zambia, Africa (I was visiting my family who moved for orphan missions, but more on that in another post). In Zambia I finalized my plans, which were fairly detailed, deciding against the 8,000 mile trip I was originally planning.

My new plan was to head down to Florida, explore, head back up through Louisiana to Texas, explore, and then head home to Michigan. All with a few minor stops along the way. The trip was around the corner. I was so excited!

It was a bittersweet moment for me. My time in Zambia was about over. And, in March 2018, I said goodbye to my family after 3 very special months. This had been a great period to rest, learn, and spend time with the most important people in my world.

I flew back to Lansing by myself, pondering and searching for a single feeling to feel. But there were so many. I felt alone. Even though I was going to live with my Grandma (and what a blessing that is), I was missing the people who had been with me my whole life.

I also felt anxiety. Here I was, 18 years old, with so many life changes like college, work, summer plans, and then my trip, all coming up just around the corner.

But I was also excited. My life had been, for the most part, out of my control up till this moment. And now the pen and paper were finally getting handed to me to write my own story. I thought I was ready.

With these emotions and so many others spreading around in my mind and nervous system, I really was starting to grow up. Not all at once, but slowly.

The plane landed.

I got to Lansing, spent time with friends and Grandma, and after one week it was time to leave. Finally, the moment I had been waiting for had come. Again, I thought I was ready. So, in the first few days of April, I left.

 

Everything Wrong With Making a Lot of Money

Let’s say you get out of college and are starting your first “real” job. You’re a young doctor so you already start out making more than the average person. Or maybe you’re middle aged and making the most money you’ve ever made in your life. Let’s just say you make a lot of money.

Where does the money go? Well most people who make a lot have a lot of expensive education required to get the job in the first place. That means student loans. If you were disciplined enough or lucky enough that your parents payed for you, then you won’t be in the same boat as most people.

Other wise, though, you’ll have student loans to pay on. That’s expense number one. The second big expense is more of an optional thing but most high-payed professionals usually opt in. It’s called lifestyle extravaganza.

Most doctors, lawyers, or well-payed professionals start seeing the bigger paychecks and begin making larger purchases to live up to what other people expect of them. It’s less of need for comfort than a need to impress and fit in with what people expect of them. “I have more income,” they tell themselves. “Why not?”

While most of us would like to think that these people are banking dough(and a lot of them are), most of the time, that’s simply not the case. People who make a lot of money are just like everyone else, they want to fit in.

The problem is they’re missing a valuable opportunity. Having a high income is not only a great thing for lifestyle, it can become a fabulous thing for your finances. Simply keeping your lifestyle low and investing the difference can make huge differences over 10 year timeframes. Still not convinced?

It might be hard to believe but putting off buying that boat today could mean, 10 years down the road, being able to purchase any home you want. Compound interest is simply that powerful.

Not only does making a lot of money come with disadvantages like the expectation of lavish lifestyle and larger student loan debt, it can also turn into a financial blessing if you manage your money well and stay disciplined. Just because you make double as much money as someone doesn’t mean it’s smart to buy a home double as large.

So if you are in the situation of making good money, be weary of the obstacles that stand in your way to having a better future. Realize what your income could turn into – both good and bad. And for students who think more income equals more net worth, be careful…

Why Students Should Work In College

I can tell you why you’re not working hard enough. There are a lot of people who know how to work intelligently, with both work and life in general. They only engage in activities that are precisely planned and efficiently organized. These are often the well-educated people, those who know the best, smartest use of time. But often they spend a lot of it relaxing or enjoying fun activities.

Then there are the hard workers. They’re the people who do the heavy lifting. They end each day both physically and mentally exhausted. These are the people who work 60+ hours per week, striving for some piece of the American dream.

Lastly, but by far the rarest group of them all is the smart-hard worker. This person is someone who not only engages in thoughtful planning, meaningful self-improvement and learning, but also in the daily “grind”, the discipline-filled early mornings, the continuous extension of energy.

By far the last group can achieve the most. Not only do they have the advantages of planning and efficiency, they also spend enough time working that they can begin to get a better grasp of their tasks and gain a larger force of momentum behind them as they get into the swing of things.

One of the best times to make strides towards this happy medium of efficiency (thoughtfulness, planning) and force (work, discipline) is being a student with a job.

Now before you go off and start dismissing this idea as both impractical and stupid, please take this journey with me through my thought process and how I worked 40 to 50 hours per week while going to school full-time (and still spending a little time with family and getting a 3.8 GPA).

First, why work in school? One of the reasons most students work is to both pay for school, and gain valuable work experience in college. I want to add one more reason: better grades. Better grades? Yeah. According to a cnbc.com article there is a correlation between students who work part-time and those who get better grades. The reason this makes sense is that having a job creates a sense of greater responsibility in your life. You not only have a different perspective, but you also have less time to goof off, which makes it easier to get down to business.

I would recommend most students seriously consider working at least 20 hours per week during the semester. Not only will you most likely get better grades, you can also start to see more money coming in to pay expenses.

My challenge: get a job while you’re in school. You might find that you have more confidence, job experience and money.

Get Rid of Your Money

Most Americans don’t have very much in savings. Those that do try to protect the amount they have, whether that’s $1,000 or $100,000. But I have a challenge to everyone who thinks stashing money will make you more secure. What if you got rid of your money, what would you do?

If you had $3,246 in the bank one day and $25.47 in the bank the next you’d probably go into panic mode. Your instincts would start kicking in. You’d figure out how to cut spending, eliminate waste from your life, and earn more income to make the difference. In other words, you’d wake up.

What happens when we have chunks of money sitting in the bank is that we convince ourselves that we’re making it, or that we’re safe. This is dangerous.

Instead, realize that the little money you have in the bank, be it $45 or $45,000 still makes you broke. I know to a lot of people $45,000 is a lot of money, but if you want to change the way you think about money, it starts here. Instead of thinking of what you could buy with $45,000, think of what you’d like to buy.

As soon as you realize that the $36,000 car, $5,000 vacation, and the 25 year retirement are on your list, $45,000 doesn’t seem like very much does it?

I personally have a little over $6K in the bank. Currently I’m gearing up for another year of college. With 2.5 to 3 years left I’m beginning to realize that it’s going to be difficult to get through college with no debt, even with lower costs than most, on just $6K. It’s time to up my game.

I’m going to have to start stashing away for college next year, both by working over the summer, taking odd jobs, and even working during the semester. Having perspective on that $6,000 helps me realize that it’s really not a lot of money – that reaching my goals will require a change in mindset.

For everyone who’s out of college and not saving for something that’s just around the corner, consider getting rid of your money. Now I don’t mean you should go and buy a newer car or travel to Europe. But it’s possible that some day you can do those things if you do what I’m going to suggest you do with the money: invest it.

Investing the money you have other than an emergency fund is a great move. Make sure you have enough money for 3 to 6 months of expenses and everything over that needs to get out of there. Put it into retirement accounts, buy real estate, pick an investment that you feel comfortable with and are ready to pull the trigger on. (just make sure to do your research)

So next time you get a $3,000 bonus, inheritance or gift, consider getting rid of it by paying off debts, securing an emergency fund, and finally putting everything else out the door into the world of investing.

Disclaimer: The information regarding personal finance found in this blog is not a substitute for professional guidance. By following the guidance in this blog you are doing so at your own risk. This blog is simply the option of one person for informational and educational purposes. Please refer to your personal financial advisor in regards to guidance over your specific situation.

Africa?

The beginning is where all of us start. Whether we were born into a rich family or experienced a childhood of poverty, every story is slightly different. Mine is that much more strange.

I was born into a middle class family in Mason Michigan. Growing up I was homeschooled out in a big house in the country. The closest thing I had to classmates were a close group of friends who participated in sports, games, and making movies with us.

I was the oldest. Someone had to be right? I was very close to my brother growing up. We would play in the yard, fight with toy lightsabers, and build forts together. It was a blast. For a homeschool family we had a lot of good friends.

Sometimes when people think of homeschoolers they think of people who sit at home all day, reading, staying in their PJ’s all day, and never really socializing. That wasn’t us. We did sometimes stay in our PJ’s for a lot of the day, but besides that none of those stereo types quite fit our description.

We went to Church each week which is where about half of our friends came from – close friends. We made some great bonds with a few families who would come over regularly. In fact you could say that we were so close to some of those families we were distant relatives.

Each Thursday we would see the Barnes family. They’d come over, we’d play all day, and the mothers would talk and take care of the little ones. As kids we loved it.

As time passed and we entered into our younger teens and high school was just starting. We participated in what’s known as co-ops. On a particular day of the week homeschool families get together at a big building (usually a church) and take classes together that are taught by homeschool moms and a few dads.

We’d go home, do our work at home, and then come back a week later to talk about it or present on it. So in some ways it was a hybrid school between public and homeschool.

We made some great friends here as well. We met every Thursday so instead of seeing Barnes at our houses, we did co-ops with them.

Highschool continued. We made more friends, learned some good stuff. And then a couple years ago, while I was in my junior year, my family started talking about going to Africa.

At first they just prayed about it and talked about it. Then they began talking to other families about it. They really felt God was leading them to go overseas and do mission work – particularly orphan care. When I would hear them talk I’d always think that it was just talk. We’d never really move to Africa would we?

Then the news came. My parents announced they would be heading overseas to Africa to visit. I was 17 but very responsible. My parents put me in charge and had our Grandma watch us as well. They left us in very good hands, making sure we had a meal plan for every day and new where everyone would be going.

It was only like a week and a half. So they left in November of 2016. That was the first trip. They took another one – I believe in early 2017. Over this period of time I was beginning to take classes at a local community college: LCC (Lansing Community College).

Duel-enrolling, I would take half my classes at LCC and half at co-ops. During this time I also got my first job at Cracker Barrel. About halfway through 2017 I looked up and suddenly there was talk of them moving to Africa with the whole family. Now it was getting real. They began making plans for the whole family (minus me) to move over there.

I kept working and that fall was enrolled in four classes. At this point they planned on heading over to Africa with the whole family in November. They had to go to a missionary training thing in Colorado Springs, CO.. That was the first time I had ever been away from my family for a full month. It felt very strange living at my Grandma’s house but I was just starting to get used it it when took a brief trip to Colorado to visit them. I was there like one week.

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I came back and kept working. I was working 40 hours a week with full-time classes – so I didn’t have a lot of time to think about the changes going on. Then they came back from Colorado and we all prepared for the next part of the journey…