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Message #1785
Wednesday, July 19, 2006
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WEALTHY:
What Charles, Jon, and Andrew do with their money (Michael
Masterson)
HEALTHY:
10 bananas … or a packet of nuts? (Dr. Al Sears)
WISE:
Benjamin Franklin on the value of time
ALSO
IN THIS ISSUE:
The
evolution of a computer user (Robert
Ringer)
The
ETR gang, together again (Charlie Byrne)
Add "behemoth" to
your vocabulary
Do
You Need To Start Out Small?
If
you don't have an Internet business yet, or if your company
is smaller than $1 million then you need something different…
something that lets you start off small.
One
man I know turned $10 into over $500,000. How's that for starting
small!
Let
me show you how to get a similar Internet
income stream running for almost nothing.
-
Patrick Coffey
What
Do People in America Save For?
By
Michael Masterson
As
you know, most Americans don't save. But you may be interested
to discover what those who DO save, save for. According to
information published by the Employee Benefit Research Institute,
workers are far more likely to save for retirement than any
other financial goal, including education for children/grandchildren,
a home purchase/renovation, a vacation, emergency money, or "whatever."
That
pretty much ties in to what I said in Message
#1741 about our priorities … when K and I were
in our savings mode:
1. Retirement
money
2. Money
for the kids' education
3. Money
for our dream house
4. Vacation
money
(This
is, of course, after we made sure we had enough money to pay
our taxes and any credit card bills.)
I
asked around ETR's editorial office, and this is what I found
out about our writing staff's saving habits and priorities:
Charles
Delvalle, Managing Editor of ETR's Money
Insight newsletter, says: "Since some
months I receive three paychecks instead of two, I put the
third 'bonus' check into my brokerage account. I also invest
in various mining and value-oriented companies that I expect
will gain appreciation within one to three years. Any bonuses
I receive from work also go into brokerage accounts. And
I save my spare change. At the end of the year, I usually
have over $200 in nickels, dimes, and quarters. Overall,
I save nearly $4,000 every year."
Jon
Herring, ETR's Health Editor, says: "I've always
been a disciplined saver, generally putting away about 30
percent of my income. As a single man for 34 years, that
was an easy task. What wasn't easy was mustering the discipline
to always do the right thing with that money. There were
a few times when 'vacation' came before 'retirement.' Now
that I'm engaged, I still save around 30 percent of my income,
but my goals are different. Presently, I'm saving for my
wedding and for the benefit of my future family."
Andrew
Gordon, ETR's Financial Editor, explains that 95
percent of his family's savings go to retirement. He also
has a separate savings account for home renovations (where
he stows about 4 percent of his savings) and one for emergencies
(which captures 1 percent of his savings). "We should
save more," Andrew says, "especially for our kids'
education, – but we haven't and we don't. We're too focused
on our retirement savings."
If
you are not doing so already, get on board with ETR's saving
program by putting away at least 15 percent of your pre-tax
income each year. Then, as your income increases, work your
way up to saving 50 percent of your income.
What
should you do with all that money? Read Automatic
Wealth to find out.
"Time
is money."
-
Benjamin Franklin
By
Robert Ringer
My
evolution as a computer user began back in the late seventies
with the Xerox 860, considered to be the premier dedicated
word processor of the time.
The
problem was that I didn't have a clue as to how to use those
hi-tech behemoths. I had two secretaries, and they were absolute
masters on their 860s, so there was no need for me to know
how to use a word processor.
It's
almost comical to think about now, but each morning my secretaries
had to load an operating disk into their machines to crank
them up. My memory is a little shaky here, but I believe the
disks were a whopping five-and-a-half inches square.
My
modus operandi for writing a book was to type my notes on three-by-five
cards, organize them on a 30-foot-long conference table, then
type the first draft of the book on that modern marvel of yesteryear
– an IBM Selectric typewriter. After I typed five or six pages,
I would give them to one of my secretaries, and she would retype
my words on her Xerox 860. This made it possible to revise
each draft without having to retype the entire document.
Within
2 to 24 hours (depending upon the volume of work that I had
given my secretary), I would receive a clean copy back from
her, straight out of the Xerox 860 printer (which was about
as quiet as a blast furnace). I would then read what she gave
me and make revisions in red pen, hand it back to her … and
the process would begin all over again.
I
had a full-time editor on staff in those days, and when I felt
that a chapter was clean enough, I would give it to her to
go over carefully and make further revisions. To research an
item in my manuscript, she would sometimes have to go to the
library. (You do remember those relics of bygone years, don't
you?) At other times, she would have to count the words on
a page for me, one at a time. Or, the most time-consuming task
of all, search the entire manuscript to see how often I had
used a certain word or phrase.
We're
talking Stone Age here.
So,
writing a book was a full-time project for three people – my
secretary, my editor, and me. For five or six days a week,
early morning till well into the evening, we focused all our
efforts on the book. If I was lucky, I'd have it ready for
the typesetter in a year or so.
I
self-published all my books in hardcover to assure that I could
control the marketing. Then, by marketing each book to best-seller
status, I was in a position to sell the paperback rights for
a high six-figure advance. This was a lot of money, to be sure,
but there's something I didn't understand at the time, and
it was this:
It's
not how much money you make, but how much money you make
in a given period of time.
Let's
say two people each make $1 million. One makes his million
dollars in a single year, while the other makes his over a
40-year career. The latter person would have had an average
annual income of only $25,000!
The
point is that time matters when it comes to making money -
which is to say that time matters when it comes to taking action.
While it's true that I was making about a million dollars a
year writing books, the same principle applied even at that
level. I came to the conclusion that my approach to turning
out books was closer to the way it must have been in the Gutenberg
era rather than in the age of computers.
So,
in the early eighties, I did the unthinkable. To the surprise
of all who knew me well enough to know that I had an aversion
to computers, I finally learned to use that Xerox 860 clunker.
It
was like being given a key to my prison cell. Suddenly, I was
in control of how fast a project would move along. Because
I now had the capacity to edit as I wrote, my first draft was
cleaner, and read better, than perhaps my seventh or eighth
draft had read in my old Selectric days.
After
my Xerox 860s finally died of natural causes, I evolved through
several computers until, in 1986, I finally splurged and bought
what I was told would be the last computer I would ever need
– an IBM that had something like 4 MG of RAM.
I
hired an instructor to come to my office and give me a few
WordPerfect lessons, and the result was like landing on another
planet. I could now do in hours what used to take my secretary,
my editor, and me days to accomplish working together.
Fast-forward
to late 1996…
By
this time, I had become fairly efficient at word processing
on a state-of-the-art HP computer, and I made a decision that
would forever change my life. At the suggestion of my executive
assistant in New Zealand, I switched from WordPerfect to Microsoft
Word. Which seemed like a good idea at the time, but for one
problem: I couldn't figure out how to use this mysterious new
program.
So,
true to my overkill approach to problem solving, I bought eight
– that's eight - Microsoft Word manuals. Which taught
me only one thing: that virtually all computer manuals are
worthless.
I
won't go into detail here. But the bottom line is that I decided
to write my own Microsoft Word reference guide, a project on
which I spent a year-and-a-half. In the process, I became so
proficient at Word that I gave up calling Microsoft's help
line when I had a question. It became apparent to me that I
knew more about the program than the technical support people
who were manning the phones. What I ultimately ended up with
was a 650-page reference guide that was basically stillborn
(because Microsoft was about to come out with Word 97 and my
work was based on Word 95).
Now,
you probably assume that if I had it to do over again, knowing
what I know now, I wouldn't embark on such a Herculean project.
If so, your assumption would be wrong.
The
benefits of my efforts came from a totally different direction
than I had expected. My reference guide never had an opportunity
to dazzle the public, but, by researching the innermost workings
of Microsoft Word, I became a world-class Word expert. Which
is a nice little skill to have, considering that I make my
living by writing.
As
a result, today I can do the work of 20 (30? 50? 100?) people
– and do it better. And all because I took one of the weakest
areas of my game – a lack of computer knowledge – and put an
enormous amount of time and effort into making it one of my
greatest strengths.
Even
better is the fact that I've done this exact same thing in
many other areas of my life, with the same amazing results.
The
dollars earned from turning a weakness into a strength are,
of course, impossible to calculate. But if you've had this
experience, you know that Brian Tracy is right when he says
that the biggest waste of time and life is for you to spend
years accomplishing something that you could have achieved
in only a few months.
Today's
Action Plan: Hopefully this will motivate you to
go to your computer and start making a list of some of your
greatest weaknesses. Then, over a period of days or weeks,
write out exactly what you intend to do about each of them.
Finally, turn your intentions into action. Unless you plan
on living longer than Methuselah (969 years, according to
the Old Testament), you can't afford to take years to accomplish
things that you have the capacity to accomplish in months.
If
you are not presently a subscriber to Robert Ringer's insightful,
wisdom-filled e-letter, A Voice of Sanity in an Insane World, CLICK
HERE to sign up for your free subscription.
You
Are Just Three Hours Away From Getting Everything You Want
in Life . . .
All
It Requires Is That You Do Something . . .
NOW!
Click
here to learn how to get your hands on the
most inspirational CD set ever created.
By
Al Sears, MD
Contrary
to what you may have heard about salt, fewer than 20 percent
of people with high blood pressure improve on a low-salt diet.
The real problem with salt isn't salt at all… it's
a lack of potassium.
Your
body needs real salt, straight from the earth, and is well-equipped
to handle it. But commercial salt producers remove all the
good minerals (for sale to industry) and add several harmful
chemicals (to bleach the salt white and keep it from caking).
Potassium
neutralizes the negative effect of too much sodium. It also
lowers your risk of heart attack and stroke. But we just don't
get enough potassium in our diets. The media loves to scare
you into thinking that too much salt will cause all sorts of
health problems – but the right amount of potassium keeps everything
in check.
So
where do you find potassium?
Despite
what banana growers want you to think, bananas are not the
best source. A typical banana gives you just 490 mg of potassium.
You'd have to eat 10 bananas to get the 5,000 mg a day I recommend.
And when you figure in the glycemic index (GI) of bananas,
eating 10 a day would make you put on fat. Instead, try an
avocado, which will give you 1,483 mg of potassium with a much
lower GI. But your best source of this mineral is nuts. They
are quite high in potassium and have a glycemic index of zero.
Learn
more about potassium-rich foods, including
their actual potassium content.
[Ed.
Note: Dr. Sears, a practicing physician and the author of The
Doctor's Heart Cure and 12 Secrets to Virility,
is a leading authority on longevity, physical fitness, and
heart health.]
ETR
Insider Report: Our Brand-New Offices!
By
Charlie Byrne
A
few weeks ago, I wrote about our upcoming move into new offices.
Well, the cubicles have been divvied up and now we're all in
one place for the first time in a year.
It's
wonderful walking in to see the whole team, ready, willing,
and eager to get another issue of Early to Rise out
to you each morning.
But
how can you contact ETR at the new office?
Well,
we do have a new address:
245
NE 4th Avenue, Suite 201
Delray Beach, FL 33483
And
a new fax number: 561-819-0336
Our
Customer Service department has added a new line to help serve
you better: 866-344-7200.
And,
as always, you can reach us via e-mail at support@earlytorise.com.
We're
enjoying being back together. No more hiking back and forth
for meetings. No more calling one another on the phone. Now,
with a short walk or a yell over the shoulder, we can speak
to whomever we want!
Take
a look at how the office has turned out (that's me – camera
shy – wearing the red shirt):
Options
Buyers Lose Money 85% of the Time…
Here's
How to Turn Their Losses Into YOUR Gains!
A
brilliant mathematician has unleashed a "secret weapon" that
can give YOU the "house advantage" every time options
buyers roll the dice. And if you have just 3 minutes a week,
you could use his system to turn $10,000 into $210,582. Here's
how you get in…
A "behemoth" (bih-HEE-muth
or BEE-uh-muth) is someone or something that is abnormally
large and/or powerful. The word goes back to the Old Testament
(Job 40:15-24), where it describes a huge animal (possibly
a hippopotamus) as an illustration of God's power.
Example
(as used by Robert Ringer today, referring to the old, tank-like
Xerox 860 word processors): "I didn't have a clue as to
how to use these hi-tech behemoths."
Michael
Masterson
Copyright ETR, LLC, 2006
Have
a Question for Michael Masterson?
Want
to know the secrets to his success? Have a perplexing
business problem? ETR welcomes your thoughts. Post
them online at http://speakoutforum.com/forum/ or
send questions directly to Support@EarlyToRise.Com
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