Wealth Creation Blog

No matter if you are just getting your feet wet in the work force, have been there for quite a while or will be exiting soon, you should be thinking about your retirement. Once you leave the daily grind, you need to make sure that you and your family will be able to continue living the nice, comfortable lives that you have built together.

Here are a few questions to consider in order to determine your retirement needs:

• What are your plans when you retire?
Are you planning to maintain your current way of life? On the other hand, you may be planning to change things up a bit. However, if you are willing to lower you standard for living by reducing your travel costs, housing costs and general spending, you could enjoy early retirement. Only you know what you want, but once you know what that is, you will be ready to move forward to create the exact wealth that you need to retire comfortably.

• What is your current income?
The money that you currently make is the best place to start calculating your retirement needs. The chances are that the more money that you make currently, the more money you will need to retire in the lifestyle to which you have grown accustomed.

• When do you plan to retire?
The younger you are when you make the choice to retire, the longer you can expect your retirement to be. You will need enough money to last for the rest of your life, which could be many, many years depending on the age you are when you retire. The older you are when you retire, the less money you can expect to withdraw from your life savings, which will be considerably larger than if you retired at a younger age.

Sean Rasmussen
Success Communicator
Aussie Internet Marketer © 2004 – 2011

If you are ready to learn how to manage your money more effectively, it is important to understand the terms that are used in the financial world. For many people, it may seem foreign and difficult to comprehend. However, unless you have excessive funds, you will have somewhat of an edge in the investment world with an understanding of even the simplest financial terms.

The amount of effort you are willing to put into learning about the world of finance is solely up to you. Some people feel the need to be immersed in it completely, while many others choose to leave it all up to the professionals. Many people only take the time to learn what they need to know in order to make deposits and withdrawals or read a bank statement.

Many people choose to rely on financial analysts to provide advice on money management. It is the responsibility of a financial analyst to stay up-to-date on any developments in the financial world. It is up to the analyst to obtain valuable information about finance and opportunities in order to relay that information to you in a way that is easy for you to understand.

In a volatile and complicated market, many people find it difficult to keep up with even the smallest things. A financial analyst is able to pay attention and keep up with it all for you.

Even though enlisting the help of a financial analyst is helpful, it is also important to have somewhat of an understanding of the financial world all on your own. You will be able to better understand everything your financial analyst tells you, and you will be able to spot any discrepancies that may occur.

It is important to take the time to look over your bank statement. Learn the basic financial terms that apply to you and your banking situation. Most of the terms used in the world of finance can be found online along with descriptive definitions to get you started in the right direction.

Sean Rasmussen
Success Communicator
Aussie Internet Marketer © 2004 – 2010

It is possible to create a significant amount of money by legitimately offering various services to the people who need them the most. When you are able to provide a service that is useful to others, you stand a chance at being nicely rewarded. With the world that we live in thriving on industry and commerce, several opportunities are available for you to earn an income for the services that you render.

Many different people all around the world have a need for service in some shape or form on various levels of quality and quantity. Manual labor is needed to keep the world’s farms flourishing as well as on constructions sites building a bright new world for us all to enjoy. High tech engineers are needed to run space stations and other important technology related tasks. The diversity among available opportunities is vast.

Services are valued according to their observed worth. The different types, levels and qualities of services earn various levels of financial reward. This is where supply and demand comes into play. In order to create wealth, you must be able to provide something that others will find valuable.

Take a look around the city or town in which you live to determine what the people there spend their money on the most. In addition, you want to look for a need in the area, a gap that your products or services can fill. Millions of dollars are out there ready to fill your pockets, all you have to do is find the niche that suits you best, learn all there is to know about that niche and then continue to grow the business of your dreams.

If you are not sure which niche you should pursue, think about the skills and experience that you already possess. Start with what you already know and build on that. For example, if you have worked as a mechanic for several years at the local auto shop, you may want to consider opening your own shop, selling eBooks on auto repair and a number of different opportunities available to someone with your skillset.

You may want to begin by making a list of the need in your community and comparing them to the list of your skills to find the match that will make you the next great millionaire of the world.

Sean Rasmussen
Success Communicator
Aussie Internet Marketer © 2004 – 2010

Another topic from the past week that I’d like to skip back to and expand on for a bit is the discussion we had about the children in your life and the greatest gift (after love and support) that you can give them to prepare for the future: the gift of positive financial mindset from the start.

The Right Start

As we’ve been talking about, our adult financial management and attitudes toward money and wealth are direct products of our upbringing and all the experiences we’ve had with money up until now. We can give our children immensely successful head starts by helping them develop their mindsets in positive, productive ways. We can help to mold their experiences with money so that they do not end up as adults who think money is evil or who live in denial of money. By hand-picking our contributions to our children’s financial mindsets, and helping them to deal positively with their financial experiences and money decisions, we can start our children off on the right financial footing.

Make Money Part Of Your Life

If you think about it, and again this is no scientific data, but I do think you can relate, most of us grew up with parents and adults who were very closed-mouthed about money; or, if we did hear about it, it was often because we could not afford something or we were denied something, or there wasn’t enough, or someone had to work too hard for it. The list could go on and on, but I think you see my meaning. Little was imparted to us, and that which was, was not very positive; and there were hardly ever enough details given to qualify the statement or issue at hand, so often we thought worse of a topic than what actually was.

Now, as a parent of course I understand not wanting to worry your children about your adult financial needs, or the stress that you might feel over money and finances. However, if you can pick and choose what you bring to light to your children, take some care in how and what you present to them, and present money and finance in a positive light—for example, as choices and options rather than wants and needs, as possibilities for building wealth and so on—all the while teaching them what money really is (a tool for them to mould and to utilise), your children will be so much farther ahead than we were, and will know that life is full of possibility and opportunity, and not just a practice in drudgery.

Don’t be afraid to conscientiously open up to your children. Talk to them about money, teach them about mindset and the possibilities before them, and watch them grow into some of the most successful people you know. If there is a dream more worth aiming for, I’m not sure what that would be!

Sean Rasmussen
Success Communicator
Aussie Internet Marketer © 2004 – 2009

As we talked about yesterday, you will have to confront your emotions about money and the factors that contributed to them; some of those contributors will not be pleasant to deal with. You may find yourself reliving old disputes, quarrels, wrongs, wants and needs, among many other things; but none of this is anything to fear.

The Past Cannot Hurt You

The only reason you need to confront your past is so that you can figure out the causes of your financial emotional state. When you know what those are, you’ll know how to deal with them. You’ll be able to rationalise with yourself so that you understand the why of how you got to where you are and you’ll be able to deal and heal those experiences that may be lingering and never dealt with, that may be quietly sabotaging your best wealth-building efforts.

Note this one thing—none of this is designed to cause you more pain; if you continue to look at it as a problem and solution, and know that the past is over and done with, that those experiences cannot hurt you anymore, then you have nothing to fear. The past has no power over your life now or for the future—not once you deal with it, put it in its place, learn from the experience, and categorise it as such—a learning experience.

Cleaning House

Think of this process as nothing more than house cleaning. You are cleaning your mind and de-cluttering your mental spaces so that you can make room for the better things that will come your way. You are kicking out that old roommate negativity so that there is plenty of space for your new life companions, positivity and success. You are simply cutting the lifeline of attraction to negative thoughts and financial want and stress, and making room for the positive financial and successful thoughts that will attract what you really want…more positivity and more success, and finally financial freedom.

Sean Rasmussen
Success Communicator
Aussie Internet Marketer © 2004 – 2009