February 19, 2009

Why Retire When You Could Get Rich Instead?... Excerpt
from "Getting Your First Million"... Did You Forget to Add
This to Your To-Do List?... Out of the Dark for Tax Season... and More.

** Why Retire When You Could Get Rich Instead?
By Adrian Newman, Founder of e-Wealth Daily

It looks like the big media outlets are starting to pick up on a story I've known about for years. It's a story that I've shared with you before and I hope you've already taken it to heart.

If not, well, it is certainly not too late for you to get in on the opportunities this story reveals. You may be a little late to the party, but there's still plenty of time to cash in.

The story that has been making waves is that people in the Baby Boomer generation, consisting of those born just after World War II, are reaching retirement age; however, many are using this time to start their own businesses and pursue their entrepreneurial dreams.

Retirement doesn't mean what it used to. Before, it was a time to throw in the towel and relax on the savings you've put away. However, while many people may not have all the savings they need, they are also finding that they aren't ready to stop working. They still have passion and energy and heading off to some sleepy town isn't in the cards for them at all.

Heck, I personally know several "Baby Boomers" who have continued to find success and pursue new challenges when they could just be sailing off into the sunset.

One of those Boomers who has found success -- and continues to find more success almost daily -- is Bill Hebden.

He's been sharing his advice for making more money (millions of dollars in fact) with e-Wealth Daily Bulletin readers for a few months now.Today, I've taken a sample from his best-selling book to share with you. You'll find it below:

** Millionaire Mindset
By Bill Hebden, the "Reclusive Millionaire"

One of the keys to my success, and I'd bet it's true for most millionaires, is that there is a certain outlook on life we share. We are able to focus on the positive, while turning negatives into opportunities and constantly having the belief in ourselves that we have what it takes to get the job done. In the following section, I've compiled and listed a number of the attributes I feel are essential to achieve success. And don't worry; you don't have to be born with them. They are all things that can be learnt and developed on one's own, so take a look and get started in creating the millionaire's mindset!

You Have What it Takes

Successful people believe in their power to become successful. They don't dwell on the negative factors that can easily stop people with a lesser character; they see what they want, and they are confident they can attain it. Believing in yourself and your ability to achieve your goals can give you a significant head start on the road to success.

People who are negative have far less of a chance of becoming successful than their positive-minded counterparts. Negative thinkers are more prone to coming up with excuses that will prevent them from believing that they can actually become successful. They'll look at their lack of a PhD or their lack of post-secondary education as reasons to avoid entrepreneurship. They'll look at their busy household and tell themselves that they don't have the time to search for the kind of career that will bring them fulfillment. They'll even use their advancing age as an excuse, saying that they are set in their ways and have no desire to change at that stage in life. Excuses run rampant with negative thinkers, while positive people tend to view any hurdles they come up against as challenges to be overcome. Well, you know something? All those excuses are garbage. I don't have a PhD or a diploma from H! arvard hanging on my wall. I live in a busy household where I take care of a busy family and I'm sure not as young as I used to be. The fact is that if you want something, you can do it and the only reason you can't is because that's what you're telling yourself.

The majority of people are negatives thinkers who take each day as it comes. They are not terrific when it comes to planning for the future, and they are not risk-takers. They'll wish for a change, but they won't actively go about changing their own circumstances. They'll watch other people become successful, never once thinking that success was meant for them as well.

If this sounds like you, then try to adjust your attitude, slowly but surely. Next time someone asks you how you are, tell them how great you are doing. Don't answer with the loser-statement, "I'm doing lousy as usual." Tell yourself that you are doing great, even if you feel that you are fooling yourself. Take solace in the fact that you are only fooling yourself temporarily. Surprisingly enough, the more you tell yourself that you are a cheerful optimist, the better off you will feel. When you look in the mirror; smile. Always try to remain bright and cheerful, even when you are feeling discouraged.

...

Ask any wealthy person about their winning streak, and the answer you get will be twofold: Firstly, they'll describe an unbeatable level of enthusiasm in what they do -- because they love what they're doing -- and secondly, they'll describe their strong belief that their capital should work for them. How do I know this? Because these people are my peers! They set aside a portion of their income each and every month to earn interest, and then re-invest the principal amount plus the interest. They don't run off with the interest earned to buy the latest hi-tech gizmo. They simply don't touch the interest. So, if one morning they happen to wake up devastatingly broke, they would merely follow in their own footsteps creating wealth in the same way -- as they had previously done. They know the power of having their money working for them; it lessens the burden when it comes to them working for ! money. The way to build wealth while you are sleeping is by letting your money grow, as you will see a little later on.

To continue reading about the millionaire mindset required to get rich in any economy, click on the link below and purchase a copy of "Getting Your First Million" today:

http://lombardipublishing.com/ads/ym/index.asp

** Did You Forget to Add This to Your To-Do List? 
By John Hurd, Chief Wealth Researcher

It's Thursday morning. You're probably enjoying your coffee, reading the news and getting ready to start your day.

Somewhere near you is a list of things you have to do this week. I'm guessing you need to go to the grocery store, pick up a few items from local shops and maybe meet with friends or family for a dinner or two.

Now, on your to-do list, is there something missing? Are you forgetting one very important thing that you should be doing every week, if not every day?

If you don't have "Make More Money" written on your to-do list, add it right now.

In fact, go one step further and set an exact dollar amount that will be your goal for the week. Be realistic in this dollar amount, but don't be afraid to aim high.

Just like you're going to get eggs and milk from the store, be certain that you're going to make this extra money.

How you do it is up to you. It could be by attending a free training course in your town to increase your network. It could be cleaning out the attic and selling that extra junk. It could be working a little longer and making a few extra calls trying to round up a few more sales.

Whatever you do, make a direct and targeted effort to get your hands on this extra money.

And when the week is over, take a little time to reflect on your actions. Did you make that extra money? Did you find a new source that could lead to extra money? Did you feel more confident in yourself once you wrote down "making money" on your to-do list?

By taking a little time to reflect at the end of the week, you'll start to learn from your experience. Track the efforts you are making to get more cash and you'll quickly learn how to identify what works and what isn't worth your effort.

** Out of the Dark for Tax Season
By Michael Newman, Self-made Millionaire

Ah, yes; it's that time of year again. The stressful season of looking at what we earned, what we spent and what we need to pay our good friends at the IRS. Tax season is fast approaching, and now is as good a time as any to get down to business to figure out what we have to pay, what we don't have to pay and where we may catch a break or two.

The truth is that every year the newspapers, web sites and news programs are filled with tips and tricks to help us avoid troubles at tax time. Because of this, it's fairly evident that most of us are in the dark -- relatively speaking -- when it comes to knowing all the ins and outs of filing our taxes. Generally speaking, I do my best to keep up with the ever-evolving tax laws, and have put together a list of a few common gray areas many people seem to be unclear of.

Many people are under the impression that if their child who lives at home is working, they can no longer be claimed as a dependent. When claiming a dependent, remember that, regardless of what they may earn, they are still costing you. For instance, if your child lives with you and they have a part-time, or even full-time job, it doesn't mean that they aren't still dependent on you. They are living in your home, which costs you money. Perhaps you still buy the food they eat, or even pay for the gas in their car. Basically, if you're putting money towards some type of support for them, they are a dependent.

Another area where people can get mixed up is the tax exemption they are subject to when they sell their home. It used to be that, if you were 55 or older, you could sell your home tax-free. Well, now it doesn't matter what your age is. The law now states that, if you sold a home that was your primary residence for two of the past five years, you can exclude up to $250,000 in gains on your taxes, or $500,000 on a joint return.

Finally, income taxes always seem to create some confusion among citizens. The rule here states that you can either deduct from your federal taxes or your state income taxes, but not both. However, if you live in Alaska, Florida, Nevada, South Dakota, Texas, Washington or Wyoming, you don't have to pay any income tax. That's quite the treat!