You’ll want to pay close attention to today’s post, because the flow of ideas you’ll be following here will have a dramatic impact on your life.
In the past few months I’ve met with dozens of prospects and clients to discuss their current financial situation.
I see real fear and worry in the hearts of many.
I’ve seen retirement funds slashed in half.
I’ve seen home equity completely eliminated in many cases.
I’ve met with people who’ve lost jobs, or had their hours cut back, or their wages reduced, and business owners forced to close up and file bankruptcy.
Everyone is slashing their expenses to the bone to survive.
People are scared, and they don’t know what to do.
Are you one of them?
You don’t have to be if you CHOOSE not to.
There is hope. There is a way to success.
You either believe that or you don’t.
That’s what this blog is all about. It’s about showing you EXACTLY what to do if you CHOOSE to take control of your life and stop being at the mercy of “circumstances.”
If you haven’t been following along for the past few postings, we’ve already started down the path to success. I’d encourage you to go back at least 3 or 4 posts and get caught up.
For now, a quick review may be enough.
We’ve agreed that we all have a “conditioned mind” and that its primary purpose is survival. It is not interested in our success. NOT ONE BIT.
Our conditioned mind wants to keep us in our “comfort zone.” It hates change at any cost, even if the change would lead us to more success. So it will let us think that we’re going to change, although it intends to keep things exactly the same.
Either we control our conditioned mind, or it controls us.
Currently only a small fraction of people have a conditioned mind that will lead them to wealth and abundance. For most, it will require major “reconditioning” of their conditioned mind.
In the last blog post, we discussed how important it is to take 15 minutes DAILY to focus on BOMBARDING your brain with the philosophies, tactics, strategies, and attitudes that lead you to wealth and abundance. Learn at least 1 valuable lesson during those 15 minutes, and take action on incorporating it into your life immediately. Not only that, learn it well enough to teach it to others.
So …
Where do we begin?
What do we focus on during the 15 minutes?
Since this blog is about helping you reach your full financial potential, let’s start with that.
What is your full financial potential? Do you have any idea? Is it more than what you are today? Are you moving closer to reaching it?
Everyone’s financial potential is different. Donald Trump’s financial potential is greater than most. But each and every one of us has a full financial potential, and it’s up to us to achieve it.
Let me share with you what I advise my clients and prospects …
For me, from the time I was young the most important thing I wanted in my life was FREEDOM … freedom to do exactly what I wanted to do, whenever I wanted to do it, without having to worry about money.
I wanted to learn how I could create “streams of income” that come to me every month, regardless whether I worked or not, in enough amounts to pay my bills.
I CALL THAT FINANCIAL FREEDOM.
At the age of 49, I was there. Sue and I had become FINANCIALLY FREE.
Did we live in a multi-million dollar mansion? Nope.
Did we drive late model high end cars? Nope.
Did we travel first class all over the world? Nope.
Did we eat out at fancy restaurants every night? Nope.
To us, that didn’t matter nearly as much as our FREEDOM.
We live in a nice home, drive nice cars, take nice trips, and go out once or twice a week.
But, we have enough “passive income” that we don’t worry about having the money to pay the bills each month.
(Here’s a huge clue … the smaller your bills, the quicker to freedom. It’s called SIMPLIFICATION and we’ll be going into more depth on this major pillar to financial freedom later on.)
Imagine waking up in the morning and knowing that for the rest of your life, your monthly bills are covered. What would you choose to do with your time?
For me, I’m passionate about my mission, helping others who truly want to take control of their financial lives and reach their full financial potential. I do it because I love it, not because I have to make money to pay the bills. And the more I love it, and the more I do it, the more clients and success I gain.
NOW THIS IS YOUR CRITICAL TIME TO THINK.
Do you want to reach your full financial potential?
Would you like to become financially free?
How much “passive income” would you need to have coming into your life each month for you to be financially free? $2,000? $5,000? $25,000?
How much of your current income is “working” income and how much of your income is “passive” income?
If you continue to generate only working income, what happens when you stop working?
If you continue to generate only working income, when do you become free?
Understand that most people don’t need to become multi-millionaires to have wealth and abundance in their lives.
For many, $3,000 to $5,000 a month of passive income is all it takes.
Let’s get clear about what YOU truly need to have coming in every month to be free.
Let’s also get clear about the fact that you’ll never get something for nothing. You will only reach your full financial potential when you are DELIVERING VALUE to others. This law cannot be broken.
You can’t hit a target that you don’t see. So decide how much passive monthly income you’d need to be free. Once you reach that target, you can always adjust it if you choose.
Imagine that you were now going to start receiving those checks in the mail every month from the efforts you’ve put in over the past 3 or 4 years. Was it worth it? I can tell you from my own personal experience, it’s definitely worth it.
TAKE THIS MASSIVE ACTION. DO IT FOR YOUR OWN PERSONAL GROWTH. DECIDE HOW MUCH PASSIVE MONTHLY INCOME YOU’D NEED TO BE FREE.
Next, we need to work on your WHY? If you don’t have a strong enough WHY, you’ll never get there. This is critical. Be sure and catch it.
Namaste,
Jeff
P.S. If you haven’t yet subscribed to my blog, do it now while it’s on your mind.
http://jefffagin.com/blog/?feed=rss2
P.P.S. Successful people share good ideas. They take the initiative. They take ACTION. If you find value in this post, please share this link http://jefffagin.com/blog/?p=214 with the people you care about.
I think that you are onto something here. Sometimes we are all so greedy that we tend to forget how happy we can be by simply “not wanting” something all the time. It is the general problem of modern societies that makes as always want something new which makes us in the end spend too much money. And that leads us to debt. You’re definitely making a good point.
Jeff Fagin response:
Thanks rodrigo,
You are 100% correct. We are CONDITIONED by the constant bombardments of advertising everywhere to want more. We are CONDIDITONED by the billions of dollars spent in advertising that LIFE TAKES VISA!
The is a much better way to financial freedom. It’s doing THE EXACT OPPOSITE of almost everyone else!
Hope to see you back again soon.
Jeff
Thanks for all those tips at this time of economic meltdown. I really liked the concept of FINANCIAL FREEDOM. I hope many people would benefit after reading your post and focussing on their required passive income.
Jeff Fagin response:
Hi Hkushe,
It’s always good to see your comments.
Passive income is the missing component to most people’s financial lives. They’ve never learned how to do it, so it is a foreign concept to them. But until they learn it, they have little chance at financial freedom.
Thanks for your comment.
Jeff
Great ideas, Jeff! The two things that struck me most are simplification and the small amount needed to achieve freedom. We simplify in our home, and can testify to the benefits. But getting even a moderate income stream would completely set us free; we don’t need millions! thanks for the reminder, I await the practical ideas…
Jeff Fagin response:
Hey Jayson,
Thank you for your response.
Having almost 40 years of training in the areas of money, finance and success, I always have to chuckle when I hear someone say they’re looking forward to the “practical ideas.”
Of course, in the coming months and years, you’ll find tons of practical ideas here on this blog. In fact, there are over 175 posts going back 3 years with practical ideas that can change your life.
But the key point is, SUCCESS, ALL SUCCESS, IS AN INSIDE JOB. It’s not about the vehicle you choose to use to get you your results as much as it is the person YOU CHOOSE TO GROW INTO.
I could have the best set of golf clubs available in the world today, and if I had to play agains Tiger Woods, and he had to use a set of clubs made in the 1960’s, who would you bet on? The person with the best tools, or the person with the best skills?
Most of what you’ll learn here is on the skills side. Unless you master these skills, you’ll have a hard time succeeding in ANY vehicle.
Hope to see you here often Jayson.
Jeff
I appreciate the general sentiment of these postings, but these “financial freedom” promises always sound the same to me. There is a simple formula for getting out of debt and staying out of debt and for many of us, it is simply not possible. There is nothing “extra” to cut out, no frivolities we can give up. And in the current economy especially, prospects for more education or a new job look bleak. But again, I do appreciate the sentiment.
Jeff Fagin response:
Hi Stace,
Thanks for your comments.
I’m sorry you believe what you wrote, but I’m sure that you do.
You are trapped. As long as you believe this is all hype and continue to do what you’re currently doing, unless you win the lottery or inherit a bunch of money, you are doomed to financial struggle your entire life.
There are those who choose to take control of their lives and grow themselves. It isn’t easy. If it was, everyone would be successful. You can learn everyday how to be more successful in any area of your life that’s important to you. That’s the truth.
Sorry you feel as you do. Until you change your current beliefs, it’ll be a struggle.
All the best Stace.
Jeff
Jeff, I really needed to read this. I am going through a lot of what the begining of this blog suggests– complacency in my current situation which is totally not working for me. Even though I tell myself I want things to change daily because I am struggling tremendously with my finances, I find it overwhealming to do so and never quite know where to start. Hopefully I will find what I need to take action and make the changes I need to to get by soon.
Jeff Fagin Response:
Hi B. Burton,
Thanks for your comments.
I meet with clients and prospects daily at my office and over the phone. Many, many people are in the same boat you’re in.
The best course of action is to get educated, get inspired, create a plan and go to work. The sooner the better. Whenever there’s change, there’s opportunity.
Read my old blog posting. Get 1 good idea a day and implement it into your life. In a month you’ll have 30 new positive habits. In a year you’ll have 365. It’s up to you, no one else.
Hope to see you back here soon.
Jeff
Wonderful job addressing these financial issues and providing such excellent criteria to back your information. The article itself is quite motivating as well. It seems like you very confident to your approach, and not just trying to sell another marketing gimmick in every other line. Thanks for the input!
Jeff Fagin response:
Thanks for your comments Theron. I really appreciate it.
I am very passionate about the work I do. If the message resonates with you, I hope to see you here again often.
Namaste.
Jeff
Great advice.
I also had recently a financial problem and after I solved it I was so relieved.There is no greater felling then Financial Freedom.
After I read your article I was quite surprised by your approach. But it doesn’t mean I don’t agree though.
Jeff Fagin response:
Hi Victor,
Thanks for your comments.
One thing I’ve learned over the years is that life is a challenge. It’s up to each of us to make things better in our lives, or else it just won’t happen. Education and taking action on new knowledge is the best way I know of to improve your chances for real success.
Learn the principles to success and master them. Anyone can do it.
Thanks again.
Jeff
Becoming financially free is something I’ve been working towards lately myself. My first thoughts were, how can I cut down the number of bills coming in every month. To do that I was able to finally get my car paid, which also helped save me a bit of interest. The next big thing on my list was to refinance my house. When doing this, I was able to get half a point less than my current rate, which is going to save me a ton of money in the long run of home ownership. These are two of the most important things I recommend to anyone when trying to find ways to save money.
Jeff Fagin response:
That’s awesome Rob. Way to go. Excellent advice.
The big question now is …
What do you intend to do with your new cash flow? Save it? Invest it? This extra money can be your “seed” money for creating passive income streams.
Hope to see you back here soon Rob.
Jeff
Great post. I am working on my goal of becoming financially free. I think that passive income is the sweetest form of income there is. It makes me giddy everytime I cash a check for something I worked hard on a long time ago and now I am reaping the rewards. Now that is a good feeling!
Jeff Fagin response:
Hi Sam,
Welcome back. Good to see your comments.
It sounds as though you’ve already got a taste of passive income. Once you understand how to create it, it’s the greatest way to freedom.
Great comment! Thanks.
Jeff
So much of this is common sense but you don’t realize it until it’s laid out for you in black and white. Who doesn’t want their freedom? I know I do, but I never really quite grasped on how to achieve it. No work, oh yea. Working income and no passive? Oh yes. I needed to find this site.
Jeff Fagin Response:
Hi Elle,
Thanks for your comments.
The solutions to all of your challenges are already available to you if you seek them out.
Hope to see you back here often.
All the best,
Jeff
I really do appreciate your post. I am currently on my own path to being financially stable. Just like you said,”There is hope. There is a way to success.” Since this whole economic crisis, I have really scaled back on going out and Starbucks. Major difference in less than a month of doing just that. I also have seen dramatic changes in my bills too. No more falling asleep with the tv going and I use night lights instead of regular lamps. Easy things like that make a huge difference. Not only that I totally agree with the whole passive income spot. I had to evaluate how much I really needed to survive.
Thanks
Hi TianaM,
Good comments.
It’s one thing to reduce your expenses. That’s obviously a critical component.
It’s a whole other thing to learn how to create passive income.
For anyone to win the game, there are 3 areas to master, Earning money … Keeping the money your earn … Grow the money your keep.
That’s what this blog is dedicated to.
Happy new year.
Jeff
Jeff, this makes perfect sense. Creating that passive and/or residual income is the key. There are a number of ways to do it, but you are so right. Even $5,000 can spell F R E E D O M for many people.
Great thinking once again from a brilliant mind. Thanks for sharing, Jeff.
Bill Gluth
Jeff Fagin response:
Hi Bill,
Coming from you, I take it as a supreme compliment! I’m sure you’re sharing a similar service with your clients as well.
Thanks again.
Jeff
Hi Jeff,
I couldn’t agree with you more. Becoming financially free does take some sacrifices to get there. The good news is, the sacrifices aren’t that bad. I know I have made some sacrifices along my journey and being financially free is definitely worth it!
Another big key is getting your mindset tuned up for financial freedom. If you can’t control your mind, you’re going to have a rough ride. This part was a challenge for me but when I did it, I quickly became a millionaire and life has never been the same.
Keep up the good work!
Dr. Andy Fuehl,
Best selling author of Wealth Without a Job
Jeff Fagin response:
Hi Dr. Fuehl,
You are one of my greatest inspirations, and I thank you for your comments.
I’ve learned many great ideas from your books and tapes, and I know that you are equally dedicated to educating and inspiring others how to create wealth without a job.
I look forward to seeing you soon.
All the best,
Jeff
Jeff,
I’m new to the blog…took your advice and went back a year or so to get caught up. Good Stuff! I’m eager to see the entrepreneurial training program you’re putting together.
As for the 15 minute success information shower you suggest…I was wondering if you had a assembled a suggested reading list. I see a couple of authors mentioned herein and will certainly pick up everything by those guys. I need to be taking in some other really good material between blog posts.
Thanks,
Paul
Jeff Fagin response:
Hi Paul,
Great to see you over here at my blog. I hope you’ve subscribed!
When you take my financial check up, you’ll be receiving the ebook “Think and Grow Rich” by Napoleon Hill. It has impacted and changed the financial lives of more people (including my own) than any other book or seminar in history. Another great book is “How to Win Friends and Influence People” by Dale Carnegie. More current authors that I read constantly include Harv Eker (Secrets of the Millionaire Mind), Jeff Gitomer, Seth Godin, Jay Conrad Levinson, and a host of others. There’s a quick read on passive/residual income called “Beach Money” by Jordan Adler that is very practical and inspiring.
I would suggest that if you went back in my blog and read a years worth of posts all at once that there were questions asked and suggested exercises throughout the posts that you read but didn’t do.
It’s in the doing that you get the greatest benefit.
I would encourage you to take each blog post as a 15 minute lesson. Read the post, reflect on the key message, answer the questions I asked, and identify the 1 most important feature that you are going to begin to incorporate into your daily life. After a month, you’ll have 30 new habits that you’ve consciously chosen to implement. With these incremental changes, you’ll see accelerated gains in your life. AND BE SURE TO ADD YOUR COMMENT AT THE END OF EACH BLOG POST! That’s an action step, and you want to become an action person.
Thanks again for your comment Paul. Looking forward to seeing many more from you in the future.
All the best,
Jeff
Jeff,
Thanks again ,I am a satisfied client of yours.Ilook forward to future posts here this one is great!
Jeff Fagin response:
Hi Joe,
Great to hear from you.
Thanks very much for your comment. I’ll look forward to seeing you back here often.
Jeff