There are two ways to create wealth – we’ll share both the well-known and the less-known ways with you today.
Click the player to listen on the BIGG Success Show podcast, or read the summary below.
Subscribe: Apple Podcasts | Spotify | More
When we think talk about capital for a business, we usually think about money. One timeless wealth-building secret is to use other people’s money, commonly referred to as OPM.
Want to retire early? Wish you had the time and money to do what you really want? Just take these six steps to financial freedom.
Subscribe: Apple Podcasts | Spotify | More
On The BIGG Success Show, we discuss how to accumulate a nest egg which will support the lifestyle you dream of. Here’s a summary of that discussion.
It’s easier than you might think to achieve financial freedom – even in the midst of a pandemic.
That’s because time is on your side, when it comes to money. It’s a financial concept called the time value of money.
Let’s say you want at least $1 million when you retire at 65. We know – you want to retire earlier than that. We’re glad to hear it! But keep listening to our example so you understand the point. It’s really, really, really important!
We continue our life-long learning series and this week, our focus is on arithmetic, as it pertains to your personal finances and money. The summary is below.
Subscribe: Apple Podcasts | Spotify | More
It’s Back-to-School season so we’re doing a ten-part series on lifelong learning. We’ve kicked it off with two shows on Reading and wRiting. Now we want to talk about aRithmetic.
We’re going to take a little different approach today than we have with the last two shows. We’re going to talk about two specific things we need to know when it comes to arithmetic, and particularly how math intersects with our money in terms of being important or being useful.
These two things both involve our personal finances. That’s why they’re so important.
Read more
With costs on the rise, you can lose money without even trying. We’ll share tips on how to beat inflation to keep that from happening.
Click the player to listen to this episode of The BIGG Success Show Podcast. Below is a summary.
Subscribe: Apple Podcasts | Spotify | More
Do you feel poorer? You may be.
The current economic atmosphere highlights an important principle of personal finance – you don’t have to actually lose money to lose money!
1901:
“…long before the year a.d. 2000, and very probably before 1950, a successful aeroplane will have soared and come home safe and sound.” ~ H.G. Wells, Anticipations: Of the Reaction of Mechanical and Scientific Progress Upon Human Life
October 9, 1903:
“The flying machine which will really fly might be evolved by the combined and continuous efforts of mathematicians and mechanicians in from one million to ten million years…” ~ New York Times, Flying Machines Which Do Not Fly.
On that same day, Orville Wright wrote in his diary, “We started assembly today.”
December 17, 1903:
The Wright Brothers successfully completed their first flight.
The great science fiction writer missed the mark by nearly half a century. The great newspaper missed it by one to 10,000 millennia. But two lowly entrepreneurs didn’t care about the predictions.
Entrepreneurs know you can’t predict the future. So change your focus.
Think like an entrepreneur. Don’t try to predict your future. Create it.
So let’s talk about how to create your future. You do it by answering two questions:
What resources are readily available now?
Get out a pen and paper. Write down your thoughts as you consider the following.
How much time can you dedicate to building something for your future? Can you commit any money? If so, how much?
And by money, we don’t just mean the paper stuff. Think about all the physical assets you already own which may be useful to create your future. For example, your computer is money.
You have also invested time building relationships. And time is money! This social capital is a valuable resource in creating your future.
Don’t forget your intangible assets. What knowledge and know-how have you gained from your education and experience? What is easy for you that others find difficult? What do you love to do that other people hate?
What can you do with them?
Now you’re ready to review your list of resources. As you do, look for patterns.
As an example, you may be really handy. You love to tinker. You have the tools to prove it! You have a number of people in your network who aren’t so inclined. Why not start a home repair business?
Another example would be that you’ve “collected” a whole lot of “stuff.” Put your computer to work and sell your wares on eBay or Craigslist.
We met a man who became a billionaire in a similar way. He didn’t have visions of being an entrepreneur. But he ended up building a Fortune 500 company.
Now do it.
All the thinking in the world will be a waste of time if you don’t act upon it. So get started.
Once you start operations, the learning really begins. You’re in the marketplace. You’re gaining insights.
You learn and adapt to create your future. Like many entrepreneurs, you may end doing something completely different. But one way or another, you’ll reach BIGG success!
Image in this post from stock.xchng
