Copyright © 2010 by Aneshia Y. Smith All rights reserved. Printed in the United States of America. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise without the written permission of the author.
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It is not the purpose of this manual to provide and reprint all the information that is otherwise available to the author and/or publisher, but to complement, amplify, supplement and direct you to other information and texts readily available. You are urged to read all the available material, learn as much as possible about the subject and tailor the information to your individual needs. The resources listed in this manual are for information purposes only and such listings do not constitute referrals to these services or product providers. Publisher and/or author cannot be held responsible for remedies to reader for any loss or damage experienced in dealing with listed resources.
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Ladies, can I be honest? Lets be honest. Dont put all of your eggs in one basket. How many of you have heard that saying before? Yeah, I know. Your mind is going “I know that already.” Well, thats part one. Dont put all of your eggs in one basket. Now heres part two…ESPECIALLY when you are not the one holding the basket.
Now, what do I mean by this?If your job or self-employed business is the only income youve got, you could be in TROUBLE….and most of you dont even know it yet….or maybe, just maybe, you do. Maybe, just maybe thats why you are reading this e-book today. You realize youve been doing the same thing over and over again, and what youve been doing isnt working anymore.
Anyone know the definition of insanity? Help me out here, ladies….doing the same thing over and over again and expecting different results. So of course, you have got to do something different if you want to reach your financial goals…a little extra spending money per month, financial freedom, more time to spend with your family…whatever that may be.
Most of you make your money from active income. You trade your time for money. Have you thought about what would happen if you could no longer perform your role? What happens to that income?
Hello, my name is Aneshia Smith. And I love my life. I spend my time training ladies on how to trade and invest in the stock market, and I love every minute of it. I also own an engineering business and invest in real estate. I wake up everyday excited about the new adventure I am going to experience. But there was a time when it wasnt so. There was a time when I was unemployed and staying with a friend, sleeping on her couch. There was a time when I thought about giving up on life, because I felt like such a failure. Even though my friends and family thought I had everything under control, I had never felt more out of control. I felt desperate and helpless.
Then, I discovered a secret. It was as if I finally saw the light at the end of the tunnel…and it wasnt a train. I started to see a bright future ahead of me. Gradually, things began to get better. I moved into my own place and eventually bought another home. I have been on the financially illiterate path. And I have been on the financially enlightened path. And I would much rather be on the enlightened path and on my way to financial freedom than to be living from paycheck to paycheck and worried about whether I will be the next one to get laid off.
Now my life is so amazing that I just have to share this secret with you. I am so passionate about this because I know that you too can reach your financial goals and live the life of your dreams. All that you need to do is take the first step: choose to make a personal commitment to your financial freedom path.
When your girlfriends talk about their financial dreams, what do they say? Many say, “Oh, I would like to be a millionaire.” Or some will say, “I would like to have enough money in the bank so that I can retire.” Still, others may say, “I would like to have enough money to pay my bills every month.” But very few say, “I would like to be financially free.” And for those that do say it, the question I have for them is “Well, what exactly do you mean by „financially free?”
Ladies, I have news for you. If your goal is to be financially free, then I will bet you that you are closer to your goal than you thought. And it all boils down to your perspective. First of all, to be truly financially free, it is important for you to understand the difference between active income and passive income. Most ladies generate active income. You trade your time for money in the form of a job, whether you have a manager to whom you report or even if you are self-employed. Whether you are a doctor, an attorney, an engineer, an accountant, or a school teacher, it does not matter. Whether you are an employee or self-employed, it does not matter. And even as a person of “status” as in the case of a doctor, attorney, engineer, or CPA, you may get paid more than average money for your time. But either way, when you get paid based on your time, your income will be limited. Why? Because nobody gets more than twenty-four hours in a day.
Now, you may be able to control how much you get paid per hour in the case of someone who is self-employed. Or maybe you get paid per transaction, as in the case of a real estate agent. Either way, you still have to invest your time in order to make the transaction happen. That is one of the reasons why time management is so critical for people who only generate active income. Because for them, time is money.
Now, ladies, ask yourself this question. What happens if you stop performing your duties? Certainly, I am not wishing any ill will on anybody, but what happens to your income if you were to become sick or disabled or have an accident? I have friends who are professionals who have had health challenges. If it were not for their employers health insurance, their income would have been zero. And even long-term disability does not pay you the equivalent of your full salary in most cases.
One of my mentors used to be a chiropractor until he injured himself while helping a friend move a boat. He even had his own practice. But, at the point of his injury he was no longer able to generate income as a doctor. He had to find another way to support his family. Think about this situation for a moment. What if this was you? What would you do?
If you want to be financially free, its time for another alternative. And its called passive income. Now, what is passive income you might ask? Well, it is income that flows to you without requiring your time. You are no longer trading your time for money. This is how you make money when you sleep, or when you are on vacation, or when you are doing anything else but work. This is the key to unlimited income because it no longer depends on your time. Ultimately, you are now leveraging your time by an infinite amount.
Now, it no longer matters if something were to happen where you could no longer perform your regular work duties, because passive income flows to you regardless of whether you are able to do physical work. This leads me to how I would answer the question I mentioned earlier: “Well, what exactly do you mean by „financially free?”
Financially free
means you are generating enough passive income to pay for your expenses.
Now ladies, notice I did not put any limitation on what the expenses could or could not be. Quite frankly, it really does not matter. And this is why I said defining financially free all boils down to your perspective. Depending on who you ask, some will say that it is a bad idea to have debt. Well, in the absence of judgment, a debt payment is an expense, no more, no less. And regardless, if you are generating enough passive income to pay for this expense, then you are financially free. Think about it, if you have freed up your time such that you only worked if you chose to, could do anything you wanted with your time and still handle your financial obligations, then does it really matter that you have a debt payment? That is for you to decide.
What are some examples of passive income businesses, you ask? Vending machines, parking lots, any business with a network or multi-level marketing business structure, real estate, and the stock market are just a few ideas for starters.
Dreams are so important. If it werent for dreams, then why would you be willing to do whatever it takes to reach your financial goals? Why not just be content to be part of the middle class?
A few years ago, I was making more money than I had ever made before, but I did not know where it was all going and why I did not have much left at the end of the month. I was struggling with money. Ladies, can you relate? Here I was this engineer who could talk to you about anything technical…because I was taught how to analyze and solve problems in school. But one thing they never taught me was how to become wealthy, or how to grow the money that I make.
How someone spends their money tells you what financial mindset they have. And remember this: your thoughts create your reality.But before I go into that, I want to give a brief description of the following financial terms from the perspective of the rich, and not necessarily from the perspective of a traditional bank: assets, liabilities, income, and expenses.
Assets are something that pays you. Investment properties, bank accounts, and company stock are examples of assets that pay you. Some would debate that your personal home is an asset. However, within this paradigm, unless you are able to rent out a room or the basement in order to generate income, your personal home is not truly an asset. Liabilities are something that costs you. Credit card debt, cars, and bank loans are examples of liabilities. I include cars as a liability, because unless you rent it out, it does not pay you. Even if you own it free and clear, I still count it as a liability because it does not generate any income for you. Speaking of income, income is money you bring in. As I mentioned in an earlier chapter, this includes active and passive. Active income is income you generate when you exchange your time for money. Passive income is income that your business generates “while you sleep.” And finally, expenses are money you spend. They include rent or mortgage, car payment, credit card payments, and food just to name a few.
Now, back to the financial mindsets. The poor buy “stuff,” things they may not even need necessarily. Theyre attracted to the “Save you money” ads. But what they fail to realize is that they must spend money in order to save money. They spend $1.00 to save $0.20. So, the end result is that they have spent money nonetheless, in this example, $0.80.
The middle class buy liabilities which generate expenses. As their income goes up so does their expenses, hence the phrase Robert Kiyosaki uses in his book “Rich Dad, Poor Dad” known as the “rat race.” And THAT is what happened to me. When I made more money, I went out and bought a nicer car, a little BMW Z3 convertible. I did not need the car, but I wanted it. So instead of taking the additional money and buying income producing assets, such as investment properties, like the rich would do, I bought the car, a larger liability. And I remember a few years ago living in beautiful southern California, watching the sunset over the Pacific Ocean, cruising around in my convertible BMW with the top down, trying to be cute, as they say….BROKE! I was broke at a higher level. I had these things, but I didnt really own any true assets. Which brings me to the rich.
The rich buy “true” assets which generate passive income. And they then use this passive income to pay for their expenses. They basically create a financial freedom wheel. Also, the rich define wealth using net worth; the middle class define wealth using annual income. Your net worth is your assets minus your liabilities.
Ladies, one of the keys to financial freedom is how you manage your money. The wealthy manage their money differently than the poor or the middle class. And contrary to general beliefs, money is almost never the solution to a money problem. Have you ever heard of a person who was broke that won the lottery but returned to being broke just a few years later? What happened? Well, some people might say that they bought too many gifts, gave too much money away to their relatives, purchased bad investments, or let their financial advisor swindle them out of it. But the ultimate answer boils down to one thing: They did not know how to manage their money. You can trust all of the financial advisors in the world, but ultimately, it is up to you to manage your money. Nobody will take care of your money like you will.
That is one of the reasons why it is so important to track your progress on the road to financial freedom. How else are you going to know if what you are doing is working? Check the results. If you are getting the results you want, then by all means, keep doing what you have been doing. However, if you do not like the results, it is time to realize that you have got to do something different. Maybe it is as simple as realizing that you may not know as much as you thought you did. But the good news is….there is a solution for that. There is plenty of training available. And before you tell me that you can not afford it, or that it will be expensive, I want you to ask yourself the following question…”How much is my ignorance costing me?” Trust me, from my own experiences, I have found ignorance to be painfully expensive.
Ladies, if you do not like your financial situation, the absolute first step, a painful one for some, is to take a good look in the mirror. In other words, you have to take responsibility for where you are financially and how you have created your financial situation by the decisions you have made. Otherwise, your situation will never change and you will continue to repeat the same patterns over and over again. You will be like that hamster running on its play wheel…running, running, and running… in circles, and getting nowhere. Taking responsibility empowers you to make different choices to create different results. Otherwise, if it is always somebody elses fault, then your destiny lies in their hands, not yours, and you have rendered yourself powerless to change it. People who claim this “victim” mentality, as a result of blaming others, tend to constantly find themselves in situations where they are being taken advantaged of. How is this, you might ask? Well, when you blame others you are affirming to the universe that you are a victim being taken advantaged of by all these other people. And as a result, you begin to attract people into your space that will take advantage of you. They can not help themselves, since this is the energy you are sending out. Everything is energy, including your thoughts. If you have positive thoughts you are sending out energy at higher vibrations, as in the case of joy, peace, and love, and then you will attract people into your space that are a reflection of that. And on the contrary, when you have negative thoughts you are sending out energy at lower vibrations, as in the case of blaming, criticizing, ridiculing, or hurting someone, and then you will attract people into your space that are a reflection of that. I know this from my own experiences of having lived from both ends of the spectrum.
So, why not learn from others who are either financially free or well on their way? Once again, achieving financial success starts with taking action. So, wouldnt you like to take the steps that someone else has taken so you dont have to make the same mistakes they did? That is why I am here…to share my personal experiences in hopes that it inspires and helps you, and also, to be inspired and uplifted by your personal stories as well. And I would love to hear from you. Become an exclusive member of a financially enlightened community of ladies. Take a moment and send me an e-mail to
ITATIStocks@aol.com.
T. Harv Eker has written a wonderful book called “Secrets of the Millionaire Mind.” I highly recommend it, as it focuses on our beliefs about money and how those beliefs have contributed to our financial situation today. And since your beliefs create your reality, your mind has a tremendous influence on your financial situation in ways that you may not even be aware of. He talks about your financial blue print, how it is determined, and how it influences your money situation. One of the many things I learned is how my habits have been formed in part by modeling my parents behaviors.
I have met many professionals who define themselves by what they do. Many of them have status. Folks who have status dont have jobs; they have “positions” if you will. Im sure you know the type. In fact, you may even be one. Doctors, attorneys, engineers, accountants, and other professionals tend to have “status.”
Folks stuck in status often wind up sabotaging their financial freedom results, subconsciously. How? Because their identity is so wrapped up in what they do. They are proud to say “Im a doctor; Im an attorney; Im an engineer; Im a CPA.” So, if they were to put themselves in the financial position to not have to do what they do, that would be a threat to their survival, or so they think. Remember? Their identity is strongly tied in to what they do. So, this is how they wind up sabotaging their results on a subconscious level. So, if you truly want to be financially free where you never have to work again, I encourage you to deal with this green-eyed monster….learn how to identify yourself independently of what you do. For me, I learned this real quick when I was laid off my engineering “position” for seven months. Here it was, I had been in the engineering field for seven years and now, all of the sudden, when someone asked me what I did, I could not tell them I was an engineer, since I was unemployed. I had to learn this lesson, and this realization has helped me minimize the mental and sub-conscious blocks that have slowed my financial freedom path.
So remember, if you are one of those people stuck in status, you may find that you are effectively like its acronym, “Still Too Arrogant To Understand Success.” Let it go, and it can make achieving your financial goals that much easier.
Compound interest is by far one of the most powerful principles that can help you reach your financial goals. Now, on the flip side, it can also keep you broke and in debt to the credit card companies.
Ladies, I want to demonstrate to you a simple example of compound interest and how powerful this concept is.1) At the end of your service, the customer pays you $100,000 lump sum payment. Not bad, eh? OR
2) At the end of your service, the customer pays you $1 the first day, and shows you a technique whereby you can double this amount everyday for the next 31 days.
Well, lets look at option #1 first since it is the easiest – at the end of your 31 days, assuming you did not spend any of the money yet, you would have $100,000. And I must admit, that sounds pretty good, especially considering the fact that the average person will not make that in a year, let alone one month.
Now, lets look at option #2. Do me (and yourself) a favor and get out a calculator. And if you dont have one, get out your cell phone. Ill bet you have a calculator on it that you can use. To recap, you are given $1 the first day and then it doubles everyday for the next 31 days. So, on day 2, your $1 becomes $2, on day 3, your $2 becomes $4, on day 4, your $4 becomes $8, and so on.
If you start with $1 and multiply it by 2 and take its result and multiply by 2, and so on for 31 days, what do you get? Well, heres what I got…….drum roll please……$1 billion, 73 million, 741 thousand, and 824. YES! I said billion with a “b.” I dont know about you, but thats pretty phenomenal….the POWER of compound interest.
Now, which option would you choose? Option 2 of course!Rule of 72
The Rule of 72 applies here as well. What is the Rule of 72? If you divide 72 by the annual interest rate, the result is how many years it would take your one time investment to double. That is the power of compound interest. For instance, an initial one-time investment of $10,000 at a rate of return of 12% would take 6 years to double into $20,000.
Now, returning to the first scenario, where you have the two payment options. The second option entailed learning a technique where you could double your money every day. And yes, I must admit, this sounds pretty far-fetched. Basically, you would need to make 100% profit (or double your investment) every day for 31 consecutive days in order to become a billionaire, with a “b.” Well, what if I could show you a technique that may take a little longer, say you could double your investment in a year? And before you say “thats impossible” I want you to know that I have done it before. How you might ask? By trading in the stock market.
Ladies, I believe that real estate investing is one of the quickest ways to become a millionaire. But, when it comes to generating passive income, the key to financial freedom, I have found the stock market to be one of the most lucrative methods out there. And for those of you who disagree, I encourage you to open your mind up to the possibility that there may be some things about the stock market that you do not know. Forget about what your neighbor, relative, or co-worker says. Discover what works for you. And remember this: I never allow someone to tell me I can not go where they have never been. If they have never doubled their investment in the stock market, then what qualifies them to tell you that you cannot do so? Absolutely nothing!
I certainly do not know everything. And I am always open to learning something new to keep me on track towards my financial goals. But I will say this. I have been trading in the stock market now for over five years using a system that my mentor Dr. Stephen Cooper created. And he has been trading in the stock market for over 20 years. I have done so well with his system that I have licensed with him to train others on it. So, who are you going to listen to? Take a moment to join a financially enlightened community of ladies and send me an e-mail to ITATIStocks@aol.com.
Ladies, how many of you believe in spending money because it is tax deductible? I know you hear it all the time. The mortgage companies who try to get you to take out some of your equity to pay off credit card bills? What do they say? Well, if you take out a home equity loan, then the interest is taxdeductible.
For those of you who like to spend money solely because the expense is tax deductible, then I have a deal for you. How about you give me a dollar, and I will give you 30 cents back. Sound like a good deal for you? I didnt think so. Yet, this is exactly what happens when you spend money for the sole purpose of getting a tax refund. In fact, I have overheard conversations between people, where they use spending additional money on a home mortgage versus what they are currently spending for rent because they can write off the interest. Now, dont get me wrong, as there is nothing wrong with buying a house to help build wealth by increasing your net worth. But, frankly, most folks have got it backwards. The financially free and literate do not spend money for the sole purpose of getting a tax refund. Instead, they learn ways to deduct expenses tha
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