Multiple Streams of Income: How To Become A Millionaire

Disc One, Track Three of the Nightingale Conant Program

This track from Robert Allen’s Multiple Streams of Income course is entitled How to Become a Millionaire.

Robert Allen starts this track off by telling us that money is a game and those who know the rules win. He tells us that a dollar squandered today wastes a hundred thousand future dollars. He tells of Warren Buffet’s two important rules. Rule number one is to never lose money and rule number two is to never forget rule number one.

He tells us that every dollar is a money seed. The longer you wait to get started, the steeper the climb. Maybe you’ve heard the example that a penny doubled every day for a month ends up being a huge sum of money, and then you are asked what it costs to wait just one day to start. Many people think it’s a penny, but it’s actually half of the entire amount of money because it’s that last day that you missed, not the first.

Robert Allen tells of the Rockefeller kids and how they received an allowance and were required to account for all of their money. The kids had to give 10 percent to charity, save 10 percent, and account for all the rest so that they could account for every penny they earned.

Robert reflects on his own childhood and shares that he didn’t live this way, but if he had, he would have so much more money today. He insists that these skills are habits must become part of your life if you ever hope to have financial success. So if you are going to follow Robert’s advice as you build your multiple streams of income, be sure to give away ten percent to charity, save ten percent, live off the rest, and account for every penny you spend.

He says not to use excuses like not being good at math, or you never went to college, or can’t work a calculator, or that your spouse handles the finances, or that you don’t have time, etc. He tells us that we’ll probably live to be one hundred years old and that’s an extra 35 years beyond retirement age.

By the way, some people are tempted not to give away ten percent rationalizing that they will have more money if they don’t. One theory is that giving away your money freely teaches your subconscious that you have enough and therefore keeps you out of a scarcity mentality.

So get started giving, saving, spending and accounting!

Comments? Questions? Email Here

© HowtoAdvice.com

How to Advice .com