Nigel Buxton Update
Are you getting your share? March 2006

 
  Dear Nigel,

If you take the total wealth on this planet and divide it by the number of people –what do you get?

How much is this very average wealth of each person?

The result comes out at about $ 1 million.

Does that come as a surprise?

What do your beliefs say about that?
Is it a lot? Is it a little?

Are you asking yourself how you will ever accumulate that amount of capital?

Are you saying to yourself that you are happy with the salary coming in at the end of the month?

As a guy who started off learning a profession with a view to having a good living. And at the beginning barely had the money to pay the rent. And then after paying the mortgage, did not have enough for a holiday. And so on, all the time earning more money, and managing without a thought to increase my expenditure to match! And along the way having moments when money did not come in, and then how did the mortgage get paid?!

Don't you ask yourself:How am I ever going to get ahead?
How to break the vicious circle of earn - spend, earn- spend, earn-spend?

When I have had periods of not earning in my life, I watched the money draining out of the bank account, and at a certain point automatically it starts how am I going to create more income to top it up. "What will I do when it has all gone?" – becomes the constant thought of the day.

 
 
Time for sale

It seems such a natural pattern to go out to work to earn more money. What we actually do is we sell time. We sell a little of our time for a little money. We sell some of the hours of our life!

Some with more experience, training and qualifications can ask for more money for each hour that they sell.

Then there are those who know things, and they have an idea which they sell or they act on it for themselves. When they are clever they sell the same idea to more people, or they repeat the same clever transaction ( for example: buy an old property – do it up – sell it). People buy products (ideas) based on perceived value. Now maybe that is how people break out of the spend-earn vicious circle, they see what others need and want. AND THEY DO SOMETHING - THEY TAKE ACTION.

How many people have told me down at the pub their great ideas to make a lot of money? Did they do it? Some - not many. It is all about getting started. The first little step.

Why do I consider this such an issue? Because if you want to live comfortably in your retirement years: or if you want to stop working because you have had enough of this earn-spend race - you have to provide for yourself. The State and your employer is not going to make provision for you to live at the same standard you had while you were working - maybe not even at half that standard. It is your responsibility to make sure that you are provided for at the standard YOU WANT.

Can you imagine the day when you stop working and (supposing you go into retirement) your salary is no more, instead your pension and savings income (now invested in high income stocks) is all there is? How does that future look?

 
 

I know that there are many people who do work that is totally unrelated to finance, and they have limited ideas how money works. There are also people trained as accountants in their fifties who are just starting to relate intelligent financial concepts to their private lives (hmmm!). The point is that it is never too late to do something. Col. Saunders (of Kentucky Fried Chicken) started selling his recipe when has was 67 years old – and he looked for a business idea because he got fed up with his meager existence on a social security pension.

Do you believe financial freedom makes you more personally free? Maybe, maybe not. However, being financially trapped (dependent on earning or finding some money to live on), makes you personally trapped (you will have to resolve those financial issues before you can really be free)!

Do you have a financial plan for your life? Do you know how you want to satisfy your monetary needs?

Are you getting your share? Do you know how you will get the share you want?

WHAT IS YOUR NEXT STEP? Reading a book, listening to a CD or going to a seminar to learn more about money and how it works might be a good start. Do something this next week.

Nigel coaches people like you to freedom – freedom from limitations, freedom to do/be more, financial freedom, emotional freedom, freedom to be yourself.

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A special thanks this week for all the feedback. And if you do have topics of special interest or questions, please do let me know. Also this week a special welcome to all the new people joining this newsletter.

Kind regards,


Nigel Buxton
mibiz d.o.o.

phone: +386-1-420-1524: +386-31-674-924