Michael Grant Simon Stillwater, Minnesota, United States
The most important thing I take away from this chapter is you have to have a plan if you have a desire to be successful in the long run: wealth, freedom, time, and control of your destiny. As said in previous lessons almost everyone will say they would like to have more money, time, and freedom. They, however, will not do what it takes and will not be consistent in the long run.
There are a few ways to obtain large sums of money without planning or working for it. The first is an inheritance. There is nothing wrong with inheritance and the bible has plenty of references regarding taking care of your children. Most will do fine and be good stewards as long as they learn from their families the responsibility of money and proper management. A small percentage of people, however, are blessed with a life changing inheritance.
The second way is be a gifted athlete or entertainer. This can be a blessing to some and curse to others. Many athletes are bankrupt within a few years after their playing career is over. There are a few ones who had financial literacy before the first big paycheck, and know how to manage their money. Michael Jordan is one. Another is Jamal Mashburn, who was an All American at Kentucky and went to have a successful NBA Career. After retiring from basketball, Mashburn has launched a number of successful business Ventures. There are some others, but most end up broke and destitute. One example of Latrell Sprewell, a former NBA player, earned around a hundred million dollars during his playing days. He has essentially lost everything including his home, which was foreclosed on. Sprewell spent money as if his career would never end.
This happens to approximately sixty percent of former NBA Players.
The percentage for the NFL is higher, where seventy eight percent go bust shortly after their career is over.
Bernie Kosar, a former All American Quarterback from the University of Miami and had a long career in the NFL. He went from making millions of dollars to less than a hundred dollars in his bank account within a short time after his career ended. Kosar did make some real estate investments, which went south. Most likely there was not a well thought out strategy and business plan.
Lastly is the lottery. I know plenty of people that dream of winning the Powerball and what they would do if this happened. Sounds great! The sad thing is that approximately seventy percent of lottery winners go broke within a few years and some even file for bankruptcy protection. It is recommended that one do a few key things before spending the first dollar of their winnings. They should immediately contact their attorney, financial planner, and even get an offsite P.O. Box. Most, however, wont and will spend without thinking and have folks coming out of the woodwork to take advantage of them.
One of my favorite Sayings is Easy Come Easy Go.
Enough of the Negatives!
This does not have to be us.
One can obtain vast wealth, through Desire, Determination, Faith, and putting together a plan to get there. Will things always go exactly as planned? No. There will be some temporary failures and setbacks along the way. Adjust the plan and move forward.
Thomas Edison had to do this ten thousand times before the light bulb was a success.
Another one of my favorite sayings that is covered in Hills Book is
“A Quitter never Wins and a Winner Never Quits.”
Keep moving forward and make it happen.
This can apply to multiple areas of our lives including Network Marketing.
How many people on this call have been involved with other Network Marketing Companies prior to now? How many said they would never do network marketing again? I know I did.
The good thing is we are all in five pillar companies now, are making plans, and moving forward.
Will have tough days regardless of what level we reach, but drive on.
Mentoring for Free is a place that helps us drive forward. Is a place to associate with Like Minded People and learn from each other. Have learned more from this group than how to be a successful Network Marketer. Michael has provided multiple eye opening examples on financial literacy and solvency.
We all will be more than prepared when the vast wealth becomes a physical reality!
We are learning how to make an organized plan.
Thank you Michael And Linda Dlouhy for this wonderful program. Thank you to Rick Burnett for reaching out to me. Thank you to everyone who participates on these weekly calls.
Proverbs chapter twenty two verse number six, “Train up a child in the way he should go: and when he is old, he will not depart from it.”