keflex resistance


Posts Tagged ‘Get Rich’

The Wealth Lifestyle

December 13th, 2009 Joe 2 comments

The Wealth Lifestyle is the term I use for the new wave of rich and happy people who are following their dreams and getting rich.  You see many people have things backwards.  Many people think that you get rich and then you get freedom from a bad lifestyle.  The fact is you can get rich and hate your life and be stuck!  Many people do exactly this every single day.  So the goal of the week is to pin point what makes you happy. This is just a simple list.  The Top 10 things that make you happy.  These things can have no business approach or money making angle whatsoever.  I just want to know what are the top 10 things in your life that make you happy.  Not in any particular order.  For the sake of sanity all 10 things are equal on the happiness meter. Sidebar, I also want to know what you do currently do to support yourself.  Leave this information in the Comments Section below.  It should look something like this:

Average Joe Millionaire – Investor, Entrepreneur, Writer, Teacher
1. Family
2. Friends
3. Art
4. Water Sports
5. Teaching
6. Learning
7. Adventure – Preferably outside
8. Snow Sports
9. Investing
10. Writing

As you can see a few of the things that make me happy are included in what I do for a living.  That is because I am Living The Wealth Lifestyle.  You may not have anything that matches up.  That is okay.  Once you understand what makes you happy, you can start applying pushing towards The Wealth Lifestyle.

If you have a choice wouldn’t you rather get rich doing something you love?

Leave your happiness list below.

If you Like this post Share it at your favorite Social Site.

Tax Shelter

November 28th, 2009 Joe No comments

Step Seven

Tax Shelters are usually associated with negative and or illegal operations.  This is not the case if you are going to start your own business in your free time like I suggest in step six.  Fact is that you are probably already spending money doing your hobby now.  For some that may be baking, photography, gardening, painting, building, or racing cars.  The fact is that you can start your business doing this thing you love and convert your personal expenditures into allowable deductions you will be well on your way to Average Joe Millionaire Status.

Step one: Turn yourself into a business owner.  This is easy and cheap to do.  You can even go to websites that walk you through the entire process.  For some you may want to consult an business attorney to do this for you.

I have heard people having luck using for their business needs.

To be in business is easy.  Simply declaring it with the proper entity is all you need to do.  Once you are in business you can magically turn personal expenses into tax deductions.

The best part is that your business does not necessarily have to make a profit.  In this scenario we are working towards a profit but if for the first couple years you don’t make one that is no big deal.

Quoting straight from the IRS

“Generally, an activity qualifies as a business if it is carried on with the reasonable expectation of earning a profit.”

“The IRS presumes that an activity is carried on for profit if it makes a profit during at least three of the last five tax years, including the current year — at least two of the last seven years for activities that consist primarily of breeding, showing, training or racing horses.”

There are certain ways to structure your business to then take these losses and deduct them from your personal federal income taxes.  So say you owe Uncle Sam $7000 for the year in personal taxes and you structured your business as an S Corporation.  In that situation you may be able deduct any business losses on your personal taxes possibly allowing you to put that $7000 into your business instead of sending it to the IRS.

I dont know about you but putting my taxes into my business sounds pretty good to me.

Working towards a profit can be easy too.  So you like baking and you want to start a cake business.  You could sell just a few great wedding cakes to make a nice lump of money and offset many baking expenses.

If you are into racing of some kind you sell advertisements on your vehicle, body and trailer.  This can add up quickly and pretty soon you are making a small profit.

Making a profit is very specific to your situation.  I cannot tell you how to make a profit because I dont know your business plans.  Feel free to post a comment with business ideas and I will give feedback on profit structures.

This article is in no way meant to influence you do anything illegal.  Including avoiding taxes. Avoiding taxes can come with harsh penalties and would damage your chances of getting rich.

On the other hand I want you to get the most out of our capitalistic system and keep as much of your hard earned money as legally possible.  I want you to pay millions of dollars in taxes but not a dime more than you owe.

Get Rich Working For Someone Else

September 7th, 2009 Joe No comments

Once you make the decision you are going to become rich, usually you already have a job working for someone else.  I have found with my experiences that it is easier to keep that job and get rich doing something during your off time, like evenings and weekends.  I have known people who decide one day they hate their job and they are going to quit and get rich doing ________(fill in the blank).  This approach never works.  The reason why it never works is because when you have no money you are desperate and other people are repelled by desperation and dont want to work with desperate people.  The advise I give is to follow the Millionaire School guide and find something that makes you happy.  For some people that is baking, photography, gardening, painting, building, or any thing that makes you happy.  Anything can be organized for profit.  Then find a way to do this activity in your free time for profit.  Once you start making money you can start to consider quitting your job or cutting your hours back.  You will find that money comes faster this way.  Money comes faster because you are not desperate and people will like that you are working so hard to pursue your dreams.  People love those stories so tell it to as many people as possible.  Many people will support you just because they want to see you succeed.

The other reason money comes faster when you are doing this in your free time is that you have more money to put into your venture.  If you continue to work you will get a steady paycheck and be able to fund your venture better.  I know most paychecks are spread thin already but it is a fact that you will have more cash flow if you keep your job.

Get rich working for someone else, and you will have more control over your life in the long run.

$2 Dollars

August 30th, 2009 Joe No comments

Step three of Average Joe Millionaires getting rich 101 is best explained with a story.

When I was a kid I went to my uncles Paul’s house.  We were in his kitchen having a bit of orange juice and when he opened his cabinet I saw a small stack of cash sitting on the top shelf.  As a 13 year old kid a stack of $20 dollar bills an inch high was a lifetime worth of allowance.  I thought that was SOOO much money.  Uncle Paul took the money down and we counted it.  He had about $400 dollars.  He said that every time money came into his hands he took 10% and put it there until he had around $500 dollars and then he put it into a savings account.  He said he started when he was 21 years old.

When he was 21 he met a girl he wanted to marry.  He had talked to her and she told him that he had to buy a ring.  So the next paycheck he got he took $2 dollars and put it in the cabinet.  My Uncle was 21, he was broke, and he was only making $200 dollars every two weeks.   Most people would not even bother saving $2 dollars.  Uncle Paul may have not bothered either but he needed to buy a ring.  Paul ended up saving up around $500 by picking up extra shifts and putting all his extra money in that cabinet.  He bought his ring and married my aunt.  Uncle Paul stuck with the savings routine and from that day forward he started saving between 10% and 20% from every check.  Uncle Paul saved all that money and  put it into a special savings account last year Uncle Paul and I were talking about money and I asked him how it $2 dollar savings account is doing.  Paul said “that account now has about $2.5 million dollars in it.”  $2.5 million dollars and it all started with $2 dollars.

Protect Your Money

August 27th, 2009 Joe No comments

These days in the headlines we hear about recession, and depression. It seems everyday that you hear about someone scamming people or ripping them off. There are really more ways to lose your money than there are fish in the sea. Money can be there one minute and gone the next. I was recently reading the article here on the New York Times talking about the fall of some of the nations super wealthy. The part of the article that interested me the most was about John McAfee the mastermind behind McAfee Security Software. His wealth was at one point over $100 Million Dollars, due to the free fall of real estate and wall street he is down to $4 Million. That is a 96% fall. You here this story all the time. You even hear this story in good financial times. _____ lost all his/ her money in a matter of seconds after he worked his whole life building his wealth.  This brings me to my point. Protecting the money you have is step two of getting rich and staying rich. You do not want to spend your time building your wealth just to lose it to a scammer or market downturn. To avoid having your name associated with a story like this you want to make sure you are educating yourself about the investments you are making. There were many people screaming at the top of their lungs that we were growing too fast in the real estate sector. In fact there are stories of guys making millions because they knew the fall was coming and they invested in a way to take advantage of a fall.  Many people put their trust in “financial experts” to invest their money.  This unfortunately is not always a good option.  I am not saying that their are no good financial advisors or money managers out there, I am just saying that if you are getting advice from one make sure to thoroughly investigate the advice given.  The days are gone where you can put a percent of your paycheck in a diversified portfolio and expect decent returns.  It is important to work and educate yourself about your investments on your own.  John McAfee made $100 million dollars investing in a business he knew inside and out.  Many people get complacent once they have made a little money.  They put their money into investments and relax.  Insert story here.

Protect your hard work through educating yourself on your investments.  Always have investments that are on the ultra safe side.  I keep about 30%-40% of my net worth in ultra safe investments.  This way I know that if everything else goes to zero I still have a third of my money.
Education is the reason I started writing here. I want to hash out information and ideas with you, as well as share anything I have that might benefit you. In the mean time I would love to hear from you in the form of questions comments and information you would like to see discussed here on Average Joe Millionaire. I have a back log 50 posts long so stay tuned, I am writing as often as possible. Better yet subscribe to the blog! That way you get updates when I post.