Personal Financial Advice | Motivational Speech Compilation

“The first copper you save is the seed from which your tree of wealth shall grow.”

Stop a hundred young men age 25 on any street usa follow them until they’re 65 years old and of those who are still living you will discover that only five of them have succeeded financially it’s almost as if they had set out in life to fail but i also believe one of the reasons is most people don’t understand this thing called money see i think it’s all right

To have money is one of your goals occasionally i speak to people and they say well i don’t want to make a lot of money you know i believe a man or a woman that would say that would lie about other things too decide how you want to live now versus how long you want to work decide how you want to live now versus how long you want to work this means if you want

To spend everything you make now you’ll have to work longer and harder if you spend everything you make now you’ll have no choice but to work longer and harder but if you start investing in your financial future now you’ll have the choice between retiring early or traveling more or continuing your career or starting a new career later in life once again it all

Comes down to choices think tomorrow today and live better tomorrow let me recommend a book for you to read the title is the richest man in babylon by george clayson perhaps you’ve already read it i would suggest that you read it again it’s just a small book you can read it in one evening i call it the appetizer for the full discourse on the subject of financial

Independence now let me give you the major theme of the book the major theme is that what you do with what you have is more important than what you have what you do with what you get is more important than what you get what we do with what we have says so much about us it reveals our philosophy of life our attitude what we know and what we think and the makeup

Of our character it is a reflection of what is going on inside of our head and within our value system and decision making process it also reveals our ability to weigh and to perceive the outer is always a reflection of the inner it is an indication a reading a revealing it speaks it tells it shows what you are doing with your money says something about you

Keep strict accounts don’t let yourself or anyone else talk you out of keeping strict accounts you’ve got to know exactly where it comes from you’ve got to know exactly where it’s all going don’t fall into the i don’t know where it all goes trap don’t fall into that it just gets away from me no keep strict accounts it’s much easier than it used to be with personal

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Computers and so many households and the software that’s readily available it’s as easy as entering your deposits and checks and receipts and the computer will tell you exactly where you stand and it does more than that if you’re really wondering where it all goes the computer will tell you that too most of the programs let you categorize your expenditures print

It out and you’ll know exactly by category where it all goes and when it’s right there in front of you you’ll be able to evaluate what you’re buying and what you’re wasting take that wasting part and add it to one of your capital funds it’ll get you there that much faster let me give you some of the details of a good financial plan as suggested by clayson’s book

First a very broad but important statement learn to live on 70 of your net income net meaning the money you have left after paying your taxes learn to live on seventy percent the reason it’s seventy is because you’re going to be doing some very special things with the thirty percent so what’s left seventy percent is yours to spend now let’s talk about the all

Important subject of how you allocate the thirty percent i remember one day saying to mr show if i had more money i would have a better plan he said to me mr rohn i would suggest that if you had a better plan you would have more money so it’s not the amount that counts it’s the plan that counts it’s not what you allocate it’s how you allocate it here’s the

First part of the allocation process of the thirty percent you’re not spending ten percent should go to charity giving back part of what you have taken out to help those who cannot help themselves i think that’s a good percentage now you can pick your own percentage it’s your life and it’s your plan but giving your money to a church or to an institution is a good

Idea more often than not they can find the people who are in need but whether you administer it yourself or give it to an institution to distribute ten percent should be given to charity the time to start this is when the amounts are small it’s pretty easy to flip a dime out of a dollar and it’s a little more difficult to give away a hundred thousand out of a

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Million you say oh if i had a million i’d give a hundred thousand i’m not so sure that’s a lot of money best we start you early so you will have the habit before the big money comes your way now here is what to do with the next ten percent set aside ten percent for capital you manage that is capital you find ways to utilize do some buying and selling yourself

Buy something fix it and sell it engage in commerce even if it’s only a part-time venture your home is a major capital project in my opinion we should all engage in capitalism in this country now here is another thought for your notes make sure you turn part of your income into capital i would suggest 10 and use that 10 percent yourself to give your own skill

A chance to do something remarkable in the marketplace no telling what genius lies unused waiting for the spark of opportunity it is part of the path of fortune use this thought why not work full-time on your job and part-time on your fortune you can you know it’s up to you and you can’t believe the feelings every day when you can honestly say i’m working to

Become wealthy i’m not just working to pay my bills it makes a different kind of day you will find it hard to go to bed at night and exciting to get out of bed in the morning remember it’s the same day the same opportunity the same you but it is a greatly different life working to become wealthy or working to get by now here’s the third 10 cents from every dollar

And that is capital you provide take 10 cents out of every dollar and put it in a financial institution and now we have come to a major benefit for all of us if you bring this ten percent of your earnings to the marketplace if you spend or invest five dollars today it doesn’t seem to matter much either way you seem to be no richer or poorer at the end of the day

But it does make all the difference in the world as you save five dollars every day and the days accumulate into weeks and into months and into years you see it’s the accumulated total of the allocation of each day that makes all the difference in the world whether you become rich or poor healthy or ill successful or mediocre i’m going to try and say some words

On the things i’ve used over the years when i was a amateur when i ran magellan i still use today i think they make sense i think they make a lot of sense for investors the single single most important thing to me in the stock market for anyone is to know what you own i’m amazed how many people own stocks they would not be able to tell you why they own it they

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Couldn’t say in a minute or less why they don’t actually you really press them down did say the reason i own this is the suckers going up and that’s the only reason that’s the only reason they own it and if you can’t explain i’m serious you can’t explain to a 10 year old and two minutes or less why you own a stock you should known it and that’s true i think about

80 of people that own stocks and this is the kind of stock people like to own this is the kind of company people adore owning it’s a relatively simple company they make a very narrow easy to understand product they make a one megabit sram cmos bipolar risk floating point data io array processor with an optimizing compiler a 16 dual port memory a double diffused

Metal oxide semiconductor monolithic logic chip with a plasma matrix vacuum fluorescent display it has a 16 bit dual memory it has a unix operating system for whetstone megaflop poly silicone emitter a high bandwidth that’s very important six gigahertz double metallization communication protocol and asynchronous backward compatibility peripheral bus architecture

Four wave interleaved memory a token ring interchange backplane and it does in 15 nanoseconds of capability now if you own a piece of crap like that you will never make money never somebody will come along with more wet stones or less wet stones or a bigger megaflop or a smaller megaflop you won’t have the farthest idea what’s happening and people buy this junk all

The time i made money in dunkin donuts i can understand it i uh when there was recessions i didn’t have to worry about what was happening i could go there and people were still there i didn’t have to worry about low price korean imports i mean i just didn’t you know i can understand it and you laugh i made 10 or 15 times my money in dunkin donuts find something

And leave it better than you found it create a value build an equity it’s how we build this most dynamic society called america just try it just try it you can always go back to the old way but if you just try it i predict you will be so excited about your new commitment and discipline for wealth that you will never turn back

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Personal Financial Advice | Motivational Speech Compilation By Motivational Stories