Home Business Update

Life is good. On 26 July we added three people to the team, and had another three upgrade their account to the Executive level.

I've been surfing thorugh the Census Bureau and Small Business Administration websites looking at home business statistics. Here are some interesting numbers I found:

Over 85% of new millionaires in America did not inherit their wealth--they earned it, generally through business ownership.

Real median income of American households dropped over 2% in 2003. This trend continues and reflects how job holders are experiencing a drecreae in their effective take home pay.

IMO, the only solution is to own your own business. Business owners in America are becoming millionaires at a record rate, while the employed American is losing purchasing power. Starting a business is actually easier than you may think, and does not require a huge wad of cash. A home business is not for everybody, but if you're interested, click on my link below.


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Why Can't I Get Rich?

People look at the wealthy and wonder, “Why can’t I be rich?”
Rather than ask, "Why Can't I be Rich?" why not ask yourself, "How Can I Become Rich?"
Achieving financial wealth is a process of doing the right thing over and over. We all know intuitively what these "things" are, but to remind you, here are some things you can start doing today to achieve wealth:
1. Starting today, spend less than you earn. By that I mean, you have to discontinue or severely limit credit card use in any case where the balance cannot be paid in full each month.
2. Reduce or eliminate your consumer debt by paying off all your credit cards as soon as possible. 3. Begin to save a minimum of 10% of your income. 30% would be better, but is not realistic for most of us. Tuck 10% of your pay into a savings account to start building a nest egg.
4. Once your savings account, money market fund, or CD has reached a level equal to at least six months' worth of your living expenses, begin to invest in appreciable assets.
Those are the basic steps. They are deceptively simple, but when properly applied to your daily lifestyle, they can produce dramatic results.
W. Clement Stone once stated that if you lack the ability to save, you lack the ability to become wealthy. Quite simply, spending less than you earn and managing to move your surplus income into an asset (saving, investment, etc) that provides you with a passive income source is the foundation of any wealth creation system. In George Clason's classic work, "The Richest Man in Babylon" he expands on the concept of saving 10% of your income and illustrates how compounding interest has the capacity to create financial wealth. If nothing else, saving part of your income gives you a nest egg to fall back on during emergencies.
Since you are apparently working online to learn more about creating personal wealth, you have the right idea of exploiting income opportunities. Expand on this. Start a home-based business and learn how to make money outside the typical second job routine. Do not use your extra income to buy what Robert Kiyosaki calls "doodads." Rather, use your extra income to fund investments in appreciable assets that provide passive or portfolio income.
One of the key suggestions of Michael Masterson in his book “Automatic Wealth” is that to achieve a million dollar net worth in less than seven years requires substantially increasing your income. Sounds logical. Masterson goes on to say the best way to achieve this goal is to start your own business. During the past few weeks I have helped 46 people start their own business. I invite you to take a look at my income opportunity by pasting the link below into your address bar.

http://www.automaticbuilder.com/bt45223