What You'll Discover In This Episode:
- The Compound Effect: The Principle That Decisions Shape Your Destiny
- What it Takes to Become a Millionaire and Why NOW is The Time to Start
- Putting it All Together and Having a Plan for Your Future
The Compound Effect: The Principle That Decisions Shape Your Destiny
If you've not ready it yet, I highly recommend reading it… it's by Darren Hardy.
The Compound Effect is based on the principle that decisions shape your destiny.
Little, everyday decisions take you either towards the life you desire… or towards disaster by default.
This book is the distillation of the fundamental principles that have guided the most phenomenal achievements… in business, relationships, and beyond.
In today's training I'm going share with you how you can use this right away.
You'll want to use this in multiple areas in your life.
Now, for time’ sake we'll look at one area… finances.
Let's get into…
What it Takes to Become a Millionaire and Why Now is The Time to Start
See the compound effect is always working.
Either for us… or against us.
My hope for you is that by end of this quick training, you'll start applying it.
Did you know the average 50-year old has less thank $50K saved?
I'm not surprised by this.
I can tell you, story after story from networkers who were doing great.
Then went out and bought fancy cars, big homes, etc.
Once their checks adjusted, they were living beyond their means.
Before they knew it, they were out of money.
I don't want this for you.
Here's something simple you can do, starting this month.
Start saving X amount of money each month.
You put this into an account and don't touch it.
You want the magic of “compounding” working for you and not against you.
Here's some quick examples of what could happen…
If you started saving only $100 / mo over 30 yrs that would be $84,000 (at 5% interest).
If you started saving $500 / mo over 30 yrs that would be $420,000 (at 5% interest).
If you started saving $1000 / mo over 30 yrs that would be $836,000 (at 5% interest)
If you started saving $1000 / mo over 30 yrs that would be $2,280,000 (at 10% interest).
So, you can see why I recommend starting NOW.
Let's look at…
Putting it All Together and Having a Plan for Your Future
Here's 3 simple actions steps to get going:
Step 1: Start using the compound effect in all areas of your life.
If you've not read the book (The Compound Effect by Darren Hardy)… get it today.
Step 2: Start saving a specific amount of money each month.
Step 3: Talk with a finance professional about your specific situation.
I get more into the details in this episode, so make sure to watch it.
In this episode #49, It's about… “The Compound Effect: What it Takes to Become a Millionaire”. Listen to the show above and comment below with your questions or comments.