A poor man will always be broke, but a broke man may never be poor. It's the same reason a billionaire is a billionaire and that's the level of your thoughts and your endurance to execute them before giving up. Broke is a balance sheet item, a snapshot in time but with a wealthy mentality your money will have children and their children will have children creating in essence generational wealth. When a person reaches millionaire status, his bank account is the last to know unless of course it comes by way of lottery and the bank account is the first to know because it is soon gone. That's a pretty strong start to a newsletter I admit, but it's true nevertheless. I say it in the most motivational of ways and hope that you all had the opportunity to attend the Get Motivated Tour that recently landed in Washington. For those unfamiliar, the Verizon Center was graced with the likes of Colin Powell, Zig Ziglar, Steve Forbes, etc. The cost to attend was $1.95. Fortunately for me, I heard about it when it hit Raleigh so by the time it came to DC, I was an alumni member with the exercised option to sit very close to the stage. For those in command of your most precious resource, it was probably the biggest return you ever got on the $2 admission fee and overall a wonderful experience.
Some of you attended and asked me specifically what I thought about the segment on trading stocks. Essentially, a gentleman did a great dog and pony on how easy it was to make stock buying/selling decisions based off three green arrows. If you got the green arrow that meant buy and the red arrow meant don't buy. I have a more advanced level of training and in my attempt to give back, I decided to go to the workshop that they boasted would give a more in depth understanding of what was going on and let you know whether it is something you should get involved with or not. The short answer is run like the dickens. They gave a great hour long introduction to fundamental and technical analysis, but the presenter and the licensed brokers were the only people with a solid understanding of the material. The staff was money collectors looking for your outstanding IRA's that you have sitting out there from former jobs. They want you to trade options and that level of transaction is dangerous for even advanced level traders. It's the equivalent of giving a kid who's studying for his learner's permit the keys to a new helicopter and telling him to go for a spin. I still find hovering challenging and I've been exposed to helicopters for a while. Don't do it folks. It's a freight train headed for a brick wall. After a few hours, I left, demanded they don't charge my card and made a B line to Bob Johnson's office. Why, you ask? Because it is a much stronger return on my investment to communicate with someone who I know has billions over someone dreaming of a million.
I'm just glad that you all would at least ask about investments before throwing your money in and finding out later whether you should be in or not. My schedule is certainly full but I try to take the time when I can or have one of my staff members look over your questions when possible. It is highly important to lend the knowledge you have to someone else who doesn't have that level of understanding. It doesn't have to be complex investments but you should always be looking to lend a hand to something when you can.
I'm taking a group of kids from the poor mentality area I grew up in a.k.a. the trailer park to a yacht show in Miami this month. The trip won't take long but the exposure to the other side will never stop. For many of us, we don't get exposure until we're well into adulthood and to afraid to step out of our comfort zone. I'd hope you all will ensure the people you influence stay exposed as much as possible whether they like it or not. I knew a long time ago the lifestyle I grew up in was as temporary as high school graduation and when that day was behind me, I left it there for good. I haven't forgotten where I came from but I know where I don't want to be and the best way to help poor people is to help them transform their mentality with wealthy thoughts and their pockets will begin to follow. I'm that new millennium Beverly Hillbilly and with that, keep the wealthy questions coming. Yall be cool now, ya hear!
-from the mobile home to where moguls roam
