Want to be Wealthy?

Stop Swapping Your Time for Money

Many of us were taught to do well in school, get a great job, work hard, and you’ll eventually make a lot of money. This may be true, but there is a great limitation to working for someone else. Time. There are only so many hours in a week. No one can buy or create more.

Even doctors suffer from this limitation. The average physician makes a large salary, but there aren’t many that make a million dollars a year. Even a physician is swapping his time for money. He only gets paid while he’s seeing patients. He can’t see more than one at a time and he can’t see them while he’s asleep. The clock ultimately limits his income.

This is also true for consultants, dentists, lawyers, and CEOs.

If you want the opportunity to make a tremendous amount of money, it’s important to find ways to earn without your presence being necessary. Free yourself from the clock and your ability to earn is unlimited.

There Are Better Ways Than Swapping Time For Money:

  1. Get paid more than once for the same work. Think about artists, authors, and musicians. In their respective businesses, they’re able to get paid repeatedly for the same work.
    • An author can write a book and then sell a million copies over the next 10 years. During that time, she may have written 20 more books. What could be better than getting paid multiple times for the same work?
    • What are some other businesses that can utilize this same strategy?
  2. Do something that allows you to receive recurring payments. Leasing office space or other real estate to others keeps money coming in while you do other things. Building a website and leasing it is a similar strategy.
  3. Be an investor. The great thing about stocks, bonds, mutual funds, and similar investments is the ability to make money with little work on your part. You’re essentially making money while you sleep. You could also loan money to others.
  4. Outsource / arbitrage. Many people set up businesses and then outsource all the work. This is especially true online. For example, there are people that sell website building services. These same people then hire someone else at a reduced rate to do all the work.
    • Ghostwriters write many of the e-books sold on sites like Amazon.com. The listed author paid someone else to write the book. If you can successfully buy something for $X and sell it for $X+Y, you can potentially make money with little work.
    • Can you think of ways to make money from the work of others?
  5. Create passive income. A website that sells an affiliate product can make money while you sleep and is a form of passive income. It’s not difficult to build a website that makes a mere $5/day, but keep in mind that’s over $1,800/yr.
    • Make a list of other ways you can make money passively.

Time is limitation for all of us. So far, no one has lived forever. But time doesn’t have to limit your income. Doctors, lawyers, and CEOs are paid well, but you have even great financial potential if you can break free from swapping your time for money.

Uncertainty stops many people. If you write a book or create a website, you’re not guaranteed to make any money at all. If you go to your job, you can expect to get paid on a regular basis. Courage and persistence are required.

Get started today and build an income stream that isn’t dependent on your time or presence. You’ll enjoy getting paid while you’re not at work!

Reflections on the US National Debt. Will we do what it takes to shrink it?

by Dr. Jeffrey Lant

So, President Obama’s bipartisan deficit commission headed by former Wyoming Senator Alan K. Simpson (R) and former Clinton Chief of Staff Erskine B. Bowles (D) has issued its preliminary report.

It is a stark, sobering document.  It says, in glaringly specific ways, that we as a nation have blithely spent too much too long, unconcerned like Mad Magazine’s Alfred E. Newman: “What me worry/”

Well, we have partied and now wake up to a colossal headache of global  proportions.  Now what?

President Obama, understanding that Congress needs help with this hot potato,early on in his term issued an Executive Order on the matter. Per this order, a panel of 18 members was created; 12 are members of Congress. Six are private citizens of impeccable pedigree.  Fourteen of these commissioners must agree before the panel can send any recommendations to Congress, which they must do shortly.

What the commissioners recommend… so far

The commissioners were given a breath taking charge by the president: either recommend $4 trillion dollars in budget cuts and savings and/or raise that sum in tax revenues. Everything was on the table; nothing was sacrosanct and inviolable. In short, “deal with it, boys and girls, for the good of the nation!”

The commissioners, selected for a gravely serious purpose, took the matter seriously, and have produced a serious document… the more so since others both within the Congress and out continue to play “gotcha politics” on the matter. Not so the commissioners. They set about their vital work with a will that promises to be sadly lacking in a Congress which will ultimately decide on what to do. Here is the  heart of what they reported.

Item: deep cuts in domestic and military spending

Item: gradual 15-cents-per-gallon increase in the federal gasoline tax

Item: limiting or eliminating popular tax breaks (including the home mortgage deduction) in return for lower rates.

Item: benefit cuts and an increased retirement age for Social Security.

It is all sensible, logical, necessary and desirable. It is also DOA because only the commissioners have the will to make changes… and they don’t have the power to save a penny or increase tax revenues Thus, under the heading “Fools rush in where angels fear to trend”,  here are my thoughts and recommendations. Mr. and Mrs. America and all the ships at sea, take note.

1) We live in supremely selfish times where no one is willing to give up anything.

  • “Ask not what you can do for your country. Ask what your country can do for you.”
  • I start from the proposition that making the necessary changes to the budget will arouse the wrath of Americans nationwide, whatever Tea Party budget- balancing tenets they espouse. Everyone entering into this necessary budget shrinking debate should expect two certain things: up front high-blown patriotic rhetoric about sacrifices willingly made ; behind the scenes bare knuckle fighting of the crudest variety to protect the haves… no matter how grossly illogical and piggish their benefits.

2) Tackle Social Security first. It is the easiest to rehabilitate.

  • It is time someone told the American people, who treat tampering with Social Security as the third rail in politics (touch it and die), the truth. The entitled, immovable age of 65 is the cynical legacy of Europe’s most successful politician, Prince Otto von Bismarck.  He’s the man who engineered the unification of Germany. Looking for a way to undermine the burgeoning late 19th century Socialist movement (very strong in Germany) he asked actuaries to find a number where most men would be dead and only voteless women left. Pensions would begin then. Otto and his conservatives get the credit… but have to pay little! Actuaries said age 65 would do the trick… and so it has remained.
  • Since Bismarck’s day, however, there have been huge improvements in health and longevity, thereby making the number 65 less an “entitlement” than a fantastic gift from the government for many years, to the detriment of succeeding (and rightly concerned) generations who foot the bill.
  • Note: Congress should bite this bullet early and deep. Whereas the president’s commissioners want to raise the age by gradual stages to year 69, instead make the magic number go to 71 for those in reasonable health who can work. It’s the right thing.

3) Make each member of the Congress take a pledge to eschew “gotcha politics” on this matter.

  • In our brutally tit for blood-letting tat Congress to say A (like “you voted to slash military spending”) immediately fuels the opposition to return (B) a  blow of equal or greater intensity (like “you voted to gut all domestic spending programs”). This gets us no where and fuels national rage about “do nothing” congresses.
  • Members of Congress raise money to clobber each other. That’s what they do. They’ve been doing it since Minute 1 of the new republic. Now some aspiring statesman should, in the name of getting to yes with this budget imbroglio, say “basta!” and ask all members, on both sides of the aisle, to join him and appreciably move towards the solution we must have. Make working together politically attractive and a “must”; do this and the politically pusillanimous who constitute the core of the Congress will rush to embrace it.

4) Urge the president to spend his (admittedly diminished) political capital to solve this problem — even at the risk of losing a second term.

  • Americans love big men who focus on big things which benefit the nation in big ways. Let our now wounded president do this and secure a truly significant and majestic legacy.
  • President Obama could rise to the occasion and say, “The issue of securing a balanced, lean, fair budget and with it the sound future of the nation is so important, I intend to make it my Number 1 priority. It is crucial that America get this benefit, and if it costs me my second term, so be it. It is the right thing to do.” (P.S. Not only would this be statesmanship in the grand manner, but this wounded man would sail to a second term and a legacy of substance and real worth.)

5)  Explain to America what is at stake. Then sell it to the nation.

  • John F. Kennedy’s father, Joseph Kennedy, was a marketing man. He stayed behind the scenes, raised money and gave sharp, sensible advice. Before the crucial Wisconsin primary in 1960, he told his son Jack that they would sell him “like soap flakes.” They did… he romped in the primary…. and got a crucial boost on the road to the presidency.
  • President Obama et al need to do the same thing now. Hire the best marketing brains on earth… brainstorm every benefit. Then go out and sell it to the nation. This matter of  the budget is not the most difficult problem this country has ever faced; it’s entirely solvable. What is necessary is to enlighten Americans, enlist their support and show them what to do. Then lock the Congress in a room and tell them to cut deals until the deed is done. And because cutting deals is what they do best, in due course the thing will be done. Then spread the credit, take the White House photographs… and start the next spending spree. For that is the American way.


Harvard-educated Dr. Jeffrey Lant is CEO of Worldprofit, Inc., where small and home-based businesses learn how to profit online. _________________________________________

3 Simple Steps To Rapid Debt Reduction


With the Fiscal Cliff in the news so much lately, many of us are re-evaluating the way we think about, spend, and save money.  It is never too late to take control of your money or even to learn new and better ways of spending.  The first step for many of us involves finding a rapid debt reduction method to get out of debt as soon as possible.

By following one or more of these strategies listed below, you can achieve rapid debt reduction.  Just use this as an opportunity to make permanent changes to your financial outlook.  If you follow these steps and change your habits you can have the secure financial future that you dream about.

Here is a list of 3 simple steps to rapid debt reduction you can start using today so that you can be debt free for the rest of your life:

1) Bring more money into your household.  I know at first this may seem impossible but it’s not.  If you can’t just add a part time job you should consider cutting back on some daily expenses such as eating out or buying coffee everyday.  Use coupons or shop at cheaper stores.

  • Switch from brand name groceries to the store brands.  All of these things can help you free up some extra money.  If you apply that extra to your debt you can pay it down much more quickly than you will if you aren’t paying anything on the principle, which you aren’t if you are only making the minimum payments.
  • Another way to bring more money into your household it to sell things.  Anything you don’t want or need.  You can have a garage sale or sell it on Ebay. Again, this may not bring in a lot of extra money but every little bit of extra money you can apply to your debt will help you get it paid off more quickly.

2) Talk to the bank or credit card company.  Banks are really taking a hit these days with so many people defaulting on mortgages and credit cards.  They are more willing than ever to work with you.

  • They might agree to lower your interest rate which would mean that for the same amount of payments you would be applying some to your principle and not just your interest (which is what you’ll have to do in order to get your debt paid off quickly).

3) A debt consolidation loan.  This will allow you to get one loan that will cover all your debt.  That way you’ll have only one payment which will be lower than the 10 different payments you were making before.  For this to work, you will have to cut up the credit cards you just paid off. Otherwise, you may be tempted to start charging on them again.  If you do that you will be right back where you started.

If you follow the strategies listed above you can find yourself debt free very quickly, however there is something you need to keep in mind.  If you use one or more of these strategies to get out of debt you have to be disciplined enough to not use your credit cards anymore.

That is a vicious cycle many people find themselves in.  They pay off some debt and then turn right around and make frivolous purchases and are right back where they started from.  In order to live debt free you have to learn to live within your means and for many that is going to be the hardest part.


5 Easy Money Management Tips For The Holiday Season

The excitement of the season makes carefree living seems like the only way to go during the holiday. It’s so easy to get carried away during the holiday season! As fun as the season is, however, it’s important to keep an eye on your budget during Christmastime, so you’re not faced with a financial crisis later on.

How can you resist that urge to spend frivolously in the name of gifts and having a jolly good time?

5 Easy Money Management Tips for the Holiday Season

  1.  Remember January is a long month. Resist the urge to spend all your holiday earnings on gifts, parties and Christmas decorations. The sooner you spend it, the sooner you’ll start to stress out about living through a long January on mere cents.
    • Always give thought to emergencies which may pop up. Leave room in your budget for those spur of the moment things that could come your way in January.
  2. Setup bill reminders. If you have a constant reminder of the bills you need to settle during the holiday and immediately after, you’ll be more inclined to manage your money effectively. As you shop for gifts, decorations, and other holiday expenses, keep your financial responsibilities in mind to ensure you can cover them when required.
    • Setup alarms on your phone that remind you days in advance of your bill due date.
    • Write due dates for your bills on your calendar.
  3. Avoid credit cards. There’s one saying that can help you avoid credit card disasters that you’ll regret for months and maybe even years to come: “If you can’t pay for it in cash, don’t buy it on credit.” As simple as it seems, it’s very effective to ensure that you avoid getting in over your head with credit card expenses this holiday.
    • If you plan to use your credit card, ensure your bank account has at least 90 percent of the purchase total in available cash.
    • Aim to settle your credit card bill on time and in full.
  4. Keep your priorities in check. If you have your financial priorities straight for eleven months of the year, you should be more than able to keep them in check during December. Here’s the perfect guide:
    • At the beginning of December, make a list of your responsibilities and prioritize them.
    • Determine how much of your earnings to dedicate to each priority.
    • Put aside the amounts decided upon.
    • Whatever you’re left with after these priorities is what you can use for holiday spending.
  5. Give yourself a gift to brighten future holiday seasons. Open a holiday account for next year with $20. Then, starting the first week of January, add $20 each week. You’ll have $1000 to spend freely next holiday season. If you put in $40 per week, you’ll have $2000! Take the financial stress out of your holidays with this small weekly gift to yourself.


A little bit of discipline and a lot of focus on what’s most important to you is all it really takes.  Focus on getting your priorities taken care of before you take the holiday spending plunge. It will make your holiday much more cheerful and much less stressful come January.

Why Should I Make a Budget?

You say you know where your money goes and you don’t need it all written down to keep up with it? I issue you this challenge. Keep track of every penny you spend for one month and I do mean every penny.  You will be shocked at what the itty-bitty expenses add up to.

Take the total you spent on just one unnecessary item for the month, multiply it by 12 for months in a year and multiply the result by 5 to represent 5 years.  That is how much you could have saved AND drawn interest on in just five years. That, my friend, is the very reason all of us need a budget.

If we can get control of the small expenses that really don’t matter to the overall scheme of our lives, we can enjoy financial success.  The little things really do count. Cutting what you spend on lunch from five dollars a day to three dollars a day on every work day in a five day work week saves $10 a week… $40 a month… $480 a year… $2400 in five years….plus interest.

See what I mean… it really IS the little things and you still eat lunch everyday AND that was only one place to save money in your daily living without doing without one thing you really need. There are a lot of places to cut expenses if you look for them.

Set some specific long term and short term goals. There are no wrong answers here. If it’s important to you, then it’s important period.  If you want to be able to make a down payment on a house, start a college fund for your kids, buy a sports car, take a vacation to Aruba… anything… then that is your goal and your reason to get a handle on your financial situation now.