Millionaire? or LIFEonaire?

Many of us just attended a training with Steve Cook sponsored by the Real Estate Association of Puget Sound that raised some provocative life questions:

What does prosperity mean to you?
Does it mean having lots of money? or having the freedom to experience life!

Are you living the life you were intended to live?
What is your vision for your life? Is what you are doing now taking you there?

Many Americans work too much, are too busy to enjoy life, have too much stress, or don't like what they are doing for a living.

The messages I got from my parents while I was growing up were: to be happy, to do what I love, and to be the best person I could be. Most parents want these things for their children. But sometimes the messages are more about money, than about life: go to school so you can get a good job so you can buy a house and a car and provide for your family. Children see their parents working hard all the time, going into debt to get the things they want - and this message sticks even more strongly.

Sure, you have to earn enough to cover your basic needs, but LIFEonaire coaches questioned the basis on which most Americans define "basic needs." Could you be happy with less, if it meant you could spend more time enjoying life?

Make a list of the most important reasons, purpose for your life - and mark these in your calendar. Build your business life around the personal life and lifestyle you want, not the other way around. Don't fill your days, weeks, months and years with work - only to discover that the things that were most important to you (family, health, hobbies, passions) have fallen by the wayside.

Time is not money - time is LIFE. Once it is gone, you can never get it back.

What if you were to die tomorrow? what would you do differently if you knew you had only three months to live?

"LIFEonaire" is the name of a concept for an abundant life based on the following six principles:

1. Prosperity = Freedom
2. Prosperity through Simplicity
3. 4 Stages to Financial Prosperity
4. Set Yourself Up to Win
5. Embrace Life - Take Action! 
6. Share Life - Give, give, give

The 4 Stages to Financial Prosperity are:

1. Build Your Foundation: Your LIFEonaire vision (for your life!)
2. Meet Your Needs
3. Earn Excess Cash
4. Invest into Free and Clear Income Producing Assets

There is a wonderful LIFEonaire book written by Steve Cook and Shaun McCloskey that is available on Amazon for anyone interested in learning more. Much of the message comes from a biblical perspective, which includes the notion that there is no such thing as good debt (the authors/coaches hedge this by saying, that one's relationship to debt has a lot to do with one's particular life vision - so it depends).

Real estate is good, your life is better. Invest in your life!

Happy Investing!

Happy Independence Day!

Independence. Freedom. These are values that all Americans support. As investors, we believe that freedom includes financial freedom - the freedom to live our life as we choose because there is enough financial security to do so.

But exactly what is financial freedom, financial independence? And how do we attain it?

If you are like me, summer is a wonderful time to catch up on more reading on topics of interest. So here is another book recommendation for you, dear Blog Readers: Lifeonanaire: Real Prosperity by Steve Cook and Shaun McCloskey.

"Life -onaire," like "millionaire," but with the emphasis on LIFE, rather than money.

Lifeonaire is the subject of some special training that the Real Estate Association of Puget Sound will offer this month to its real estate investor members in a special three-day retreat. For more information, go to www.reapsweb.com

The book itself is written in the form of a story, taking its characters on a journey of financial self-discovery. The premise is that debt enslaves the borrower, and to truly live a prosperous, abundant and financially free life, one must focus on the things in life that are most important. Too much time may be spent chasing after money, instead of after one's passions. Simplify and de-clutter your life. Focus on what you want. Do not believe everything about the American dream.

My favorite quote on money and happiness comes (not from this book, but) from Jonathan Haidt:

“Those who think money can't buy happiness just don't know where to shop … People would be happier and healthier if they took more time off and spent it with their family and friends, yet America has long been heading in the opposite direction. People would be happier if they reduced their commuting time, even if it meant living in smaller houses, yet American trends are toward even larger houses and ever longer commutes. People would be happier and healthier if they took longer vacations even if that meant earning less, yet vacation times are shrinking in the United States, and in Europe as well. People would be happier, and in the long run and wealthier, if they bought basic functional appliances, automobiles, and wristwatches, and invested the money they saved for future consumption; yet, Americans and in particular spend almost everything they have – and sometimes more – on goods for present consumption, often paying a large premium for designer names and superfluous features.” 
― Jonathan Haidt, The Happiness Hypothesis: Finding Modern Truth in Ancient Wisdom

Happy Fourth of July!