Tuesday, October 23, 2007

Money Talks And The Great American Lie

This brand new blog "Money Talks" discusses how many people in the United States are still living the American Lie. Money Talks does more than just place a problem many Americans today are facing. Money Talks also gives great insight on how to build and create wealth in today's global economy.

Money Talks goes into detail about how the status quo of go to school and get a good paying job are no longer suffient plans to get ahead in today's America. With Social Security no longer able to cover the vast majority of baby boomers looking to retire in the coming years. There must be a different answer. When you also look at the massive layoffs major corporations are doing and outsourcing of jobs to India and China, it is no longer enough to depend on the major corporations according to Money Talks.

Money Talks also talks about theraising costs of health care. Money Talks is a solution based blog which gives you ways to build mulitple streams of income and how to be rid of your job and build a life of abundance for yourself.

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What is Ultimate Wealth?

Many people have the wrong idea about wealth. So what is ultimate wealth? Ultimate wealth is when the income from your assets exceeds your expenses. It does not matter if you are only making 20,000 from your assets as long as your expenses are lower, then you are wealthy. If your expenses happened to be over the amount your of your income then you are not wealthy. That is basically it. So let's say Don is bringing in 5,000 a month from his commercial real estate and his expenses are 2,000 a month then Don is wealthy. Now let's saySam is bringing in 1 million a month in income from his assets but his expenses are 2 million a month he is not wealthy.

In the above example is where the majority of people get confused. Have you heard people say he must be rich because of the car, house or any number of other items a person may have.That is completely wrong. Those items are liabilities because they do not put money into the pocket of the owner.The next big myth is about the amount of money a person makes. This does not matter for two reasons. One what good is it to make 20 million a year if you are spending 40 million year, for example Mike Tyson. Next it depends on what type of income you are earning. If your only income stream is from your job you may be in trouble. The day of a job taking care of you is gone, this is a global economy. For instance, many baby boomers sold on the myth of going to school and getting a high paying job are finding themselves out of work and desperate for anyway to make ends meet each month. Your job cannot be considered a reliable stream of income because it is not. So when you hear someone say so"n"so makes this much a year. Dig more deeply is it income from a job or income from a business, real estate, and stocks because that makes a huge difference.

Ultimate Wealth is when the income from your assets (businesses,real estate, stocks) exceeds your expenses. Wealth is not a high paying job, it takes much more than having a high paying job to be wealthy. A good question to ask yourself is this "If I were unable for whatever reason to never work another day in my life, how long would I survive with my current lifestyle?" The answer to that question determines your ultimate wealth.

Mindset Having The Right Mindset When Your Money Talks

When your money talks you must have the right mindset. In life you are the judge, jury, and lawyer. Either you talk yourself into something or talk yourself out of something. It is that simple. If you believe you can't do something you won't. You can't control everything that happens to you but you can control your reaction to whatever happens to you in life. Becoming wealthy starts from within. You are your most vaulable asset not the material items you may have or may not have. When your money talks you must have the right mindset to listen.