In medicine, they say: “When you hear hoof beats, think horse, not zebra.” According to the doctors in my Live Out Loud community, that translates to: “Don’t go to the obscure and unlikely when you’re dealing with the ordinary.”
Money Rules
In my book Wealth Cycle Investing, on page 57, I talk about money rules and taking control. When you opt for direct participation in assets, you need to make decisions based on your personal criteria-your money rules. Your money rules are determined by your current situation and financial objectives, and they help you decide.
But let me give you some Investing Money Rules:
- Decide whether you want to be an active or passive investor.
- Are you looking for money now (cash flow) or money later (appreciation)?
- Decide what kind of return you want on your investment annually
- What are you liquidity needs? Do you need to keep cash on hand or readily accessible for your needs?
- What are your tax ramifications? How will your taxes will be created or minimized by your investing? Investments can create huge tax liabilities or create huge tax deductions.
- Finally, what are the risks and rewards associated with your investment? How do you measure these variables? Do you have the tendency is to discount the risk and over-rate the reward?
Here are some other Money Rules to help you
Cash Machine Money Rules:
- How much money will you invest in the business?
- Will you bring in JV partners for capital?
- Will you utilize partners for other reasons?
- If so, how much interest/ownership are you willing to give up?
- Will you borrow money for expansion and/or growth
- Will you borrow money for operations?
- Will you purchase assets in the business name?
Money Rules For Holding Assets:
- What kind of entities will you utilize?
- How will your entities be structured in relation to one another?
- How much equity are you willing to put at risk per entity?
- How many businesses/assets will you hold per entity?
- When will you start a new entity?
- Will you pay taxes per entity or flow income to a “mother ship” or to your personal tax return?
Money Rules For Family Spending:
- Will you combine your money and pay all bills out of the joint account?
- Will you have separate accounts for certain bills or for discretionary spending?
- How will you decide on large purchases?
- How much can you each spend without notifying the other person?
- How will you handle money with your children?
- What is your philosophy on debt?
Money Rules For Family & Money:
- Will you loan family members money? If so, how will you structure the payback terms?
- How will you document it?
- If you loan family money, how will you handle the situation if they are not able to repay it?
- Will you borrow money from family? If so, for what reasons?
- How will you repay it? What if you cannot repay it?
Bring your entrepreneurial skills to the next level…attend a free event!
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Guide to Wealth Cycle Investing
Get Off Your Lazy Assets
Discover The Nine Assets You Already Have To Build Substantial Wealth – In Any Economy
Lake Tahoe, NV (11/20/08) – America’s money maker, author of three NY Times best selling books and Dr. Phil’s “Money Expert,” Loral Langemeier offers tried and true methods to discover YOUR ASSETS for building wealth in her just released, interactive E-book, GET OFF YOUR LAZY ASSETS.
Most people can barely get their active income over expenses, let alone figure out how to create passive income. Sure, wealth creation is about money working for you. But you have to make the money first, you have to learn to earn.
You have everything it takes to have everything you ever wanted. Propel your natural assets into cash by uncovering your skills, adjusting your attitude, translating your talent into a valued currency, claiming a vision, getting clarity, building and engaging a community, taking leadership, control and action.
These nine assets are available to you. You just need to understand and engage them to create abundance and reach financial freedom.
“I believe in the Law of Attraction. That’s why I was glad to appear in The Secret video and participate in the widespread enthusiasm about the subject. These rules of energy, thought, behavior and attitude have always dominated my life and every time I say something it seems to happen,” says Loral.
Just being able to talk about money is an asset. It helps you gain financial understanding. But most families, communities, and schools don’t talk about money. And if you took the time to look for more information, you probably discovered that there is very little written about wealth creation, and what is written is conceptual, not how-to. The time has come for a book that has the money conversation. This book will help you use what you have to take control and get what you want, no matter what that is.
Eventually, you will create many-times the amount of money you need to live so that you easily cover your expenses. And then a large percentage of your cash flow will go back into your assets and building your wealth. Wealth building has to do with how you make your money, how you keep it, and how you grow it.
Go to www.lazyassetsbook.com and read the first chapter. It’s on Loral…totally free.
That is how dedicated Loral is to getting you started on your path to wealth.
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Andi Buerger
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