[Grev]

Well I do divide my time between being creative (photographer) and technical virtuosity (science and philosophy). Somehow being an entrepreneur gave me one of the most challenging train of thoughts I've had so I started pursuing it.

Anyway, bring on more prevalent advices!

[Young Spark]

Originally Posted by TheCDAllenGroup

That's exactly the mindset most folks have. They go to work (making someone else rich and trading time for money), get a paycheck (buying liabilities, which eat holes in their pockets), and save the little they have left and/or place a little in retirement accounts (funded by crappy and risky mutual funds as the primary investment vehicle). They go home and watch hours of nonsense television and don't do anything to further their financial literacy.

I agree with this, its like what I said (my saying in the "Positive Business Quotes" thread I started.) Why work for one person (company) when you can work for a million people (your own business.) << Makes sense?

I believe a saying I once heard: "In order to be successful, you have to endure some financial crisis's... in the end, the rewards will be great." I cannot remember where I read this but in a perspective it makes sense. Surely, liabilities (like utilities and everything) have to be paid, but sometimes you have to do without some of these things (internet, phone, cable, cell phones, etc.) The money you spend on these liabilities should be put towards income methods that will gain you assets. If you were to take some of that money and invest it into a "high passive income" business (for example: blogs are the rave and with the essential addition of AdSense) --- you can make hundreds of dollars with the right marketing and advertising and good content and loyal readers. All for only 30 mins a day as you said.

But the whole "blog and AdSense" combo is getting old, a bit too saturated, that's why a little creativity and "idea generating" may get a bit far then that.

My main focus right now is to gain the "millionaire" mindset that many people explain is a very big necessity in being wealthy and gaining knowledge that will benefit that as well.

Originally Posted by TheCDAllenGroup

But it's ok. At least we are the rarity when it comes to desiring financial literacy.

In fact, I'd rather for the masses to stay where they are. We entrepreneurs need "drones" to get our busy work done, while we dedicate time to thinking of new ideas and researching new investments, ultimately making us even wealthier.

I agree once again, but I believe that even the common person deserves to experience wealth atleast once. My mom (God Bless her) and my dad never hardly got along (they were NOT violent or arguementative) but they usually stayed in two different places. So in a way my mom is a single mother struggling to pay bills, etc. I believe in the fact that one day I'll be wealthy enough to pay her back for all she's done (that includes buy her a car that is paid off, buy her a house and keep her bills paid for her as well as start a retirement SAVINGS account (that has some kind of percentage to gain from the money, aka the interest) so she can enjoy the finer things in life. She support me for 18 years, so I figured why not support her in return for everything she's done.

All entrepreneurs should have this state of mind in addition to their "millionaire" mindset.

[TheCDAllenGroup]

Originally Posted by Young Spark

But the whole "blog and AdSense" combo is getting old, a bit too saturated, that's why a little creativity and "idea generating" may get a bit far then that.

It may be - I'll have to check on the feasibility of starting a new blog. For sure, content is a breaker or maker for blog owners.

My main focus right now is to gain the "millionaire" mindset that many people explain is a very big necessity in being wealthy and gaining knowledge that will benefit that as well.

Yes - and it's not hard to do. It's just a matter of allowing your mind to be shifted into a new form of thinking. The thinking has to be modified because the actions/behavior will follow. Soon enough, you'll find yourself looking for problems instead of income. Problems lead to opportunities and opportunities to wealth creation.

I agree once again, but I believe that even the common person deserves to experience wealth atleast once.

Absolutely. Anyone who is willing to learn financial literacy can enjoyu the benefits of creating wealth.

However, those who refuse to learn usually don't experience wealth creation, or they loose it all.

We must learn that money is not the answer to most problems. However most employees will tell you that their problem is about "not making enough money." Betting dollars to donuts, their financial literacy is non-existent, therefore leading to their financial mis-management.

I remember reading a statistic recently about how over 70% of individuals what receive a large sum of money (i.e. the lottery) go bankrupt within three years. Well, those people had a problem before they got the money - their THINKING AND MINDSET. So, having more money is not the answer but financial education.

[Young Spark]

Originally Posted by TheCDAllenGroup

Yes - and it's not hard to do. It's just a matter of allowing your mind to be shifted into a new form of thinking. The thinking has to be modified because the actions/behavior will follow. Soon enough, you'll find yourself looking for problems instead of income. Problems lead to opportunities and opportunities to wealth creation.

Any recommendations on other places I can seek to get this kind of mindset info (besides the Rich Dad, Poor Dad book.) What can I expect with a "millionaire" mindset? How long does it take one to usually learn the mindset information?

Originally Posted by TheCDAllenGroup

We must learn that money is not the answer to most problems. However most employees will tell you that their problem is about "not making enough money." Betting dollars to donuts, their financial literacy is non-existent, therefore leading to their financial mis-management.

Going through a bit of financial hardship can really make the difference in this case as I was stating. You can work all day, come home and watch TV or you can use that "free" time to do your research and due diligence to gain further information. Go to the library, pick up a copy of the "Rich Dad, Poor Dad" book and read it, take some notes... go to a couple of seminars or join a group like this forum.

Its all about conserving your free time with learning instead of pleasuring yourself with more liabilities.

Great topic so far... anymore info on different wealth creation methods? How about a referral site (I was pondering this idea... starting a site where people can get prizes and win something in the end.) I feel that this is a very good idea but the niche is becoming too saturated.

[TheCDAllenGroup]

Originally Posted by Young Spark

Any recommendations on other places I can seek to get this kind of mindset info (besides the Rich Dad, Poor Dad book.) What can I expect with a "millionaire" mindset? How long does it take one to usually learn the mindset information?

Anyone wanting to modify their current mindset to the "Millionaire Mindset" can also read works by Robert G. Allen (Multiple Streams of Income), Donald Trump (The Art of the Deal)... What I like to do is not only read the books that these individuals have authored, but also listen to them speak about their various deals, successes, failures, and ingrain that language into me. I've done that will all the Rich Dad (Kiyosaki) podcasts, interviews, and recordings that I have.

Remember, you have to ingrain yourself with a new way of thinking, and I've done that with various audio information about tax strategies, reduction of tax liability, real estate transactions, asset protection, corporate entity formations, etc.

How long does it take? Well, I seriously started just over a year ago, and I have learned a GREAT deal - I am personally miles ahead of that Industrial Age and Consumer Mindset I used to have. No, I'm not a guru yet, but I can hold long conversations simply talking about financial literacy.

When it's in you, it will flow OUT of you like a fountain. Simply amazing.

Going through a bit of financial hardship can really make the difference in this case as I was stating.

Yeah, it was a definite motivation for me.

I was working in Corporate America living the high life, residencing in the best part of town, but it soon all came crashing down. I lost my job, my [rental] residence, my pride, and had to go back to my hometown and start ALL over again. It was the loss of all this that really made me re-evaluate my thinking and start looking for answers. That quest has been amazing and my life will never be the same again...

[Young Spark]

^^ Great advice... may I ask out of curosity and going off topic for a second, what exactly is "TheCDAllenGroup" --- is it like a financial corporation/company?

[TheCDAllenGroup]

Originally Posted by Young Spark

^^ Great advice... may I ask out of curosity and going off topic for a second, what exactly is "TheCDAllenGroup" --- is it like a financial corporation/company?

Thanks Young Spark - I try my best - still climbing the mountain...

The C.D. Allen Group will be the name of my limited liability company. It's simply entitled after my own name, C.D. Allen.

[Young Spark]

Yeah... well to be honest, this has been quite a productive topic, we should definitely get some more people interested in this some more. I feel that wealth should be a key vocabulary word in everyone's "success" goal.

[DarCon]

All of the previous mentions are good, especially Kiyosaki. I have one that no one has mentioned yet and I go back to it all the time. It's a book by Dan Kennedy called:

No B.S. Wealth Attraction for Entrepreneurs: The Ultimate, No Holds Barred, Kick Butt, Take No Prisoners Guide to Really Getting Rich.

I know it's a long title, but it really gives a good look at what you need to do as an entrepreneur to attract wealth to you. It's not a get rich quick type of thing, but more of a paradigm mindset shift. It's a very good book and can be found on Amazon for like $13 new.

[Young Spark]

^^ Definitely worth the look, thanks for the resourceful reference. Do you have any strategies on building wealth that the title has presented as a valuable asset?

[pacificfame]

You want to read something on learning how to mold you mind into the Millionaire Mind then read.....

http://www.amazon.com/Secrets-Millio.../dp/0060763280

I'm reading it now and it seems decent.