WILL YOUR CHILD BE RICH OR POOR? 15 POVERTY HABITS PARENTS TEACH THEIR CHILDREN - part 2 of 2

Tom Corley/ Michael Yardney's Commentary

The fact is the poor are poor because they have too many Poverty Habits and too few Rich Habits.

Poor parents teach their children the Poverty Habits and wealthy parents teach their children the Rich Habits.

We don’t have a wealth gap in this country we have a parent gap.

We don’t have income inequality, we have parent inequality.

PARENTS AND OUR SCHOOLS NEED TO WORK TOGETHER TO INSTILL GOOD DAILY SUCCESS HABITS AS FOLLOWS:

·         Limit T.V., social media and cell phone use to no more than one hour a day.

·         Require that children to read one to two educational books a month.

·         Require children to aerobically exercise 20 – 30 minutes a day.

·         Limit junk food to no more than 300 calories a day.

·         Require that children set monthly, annual and 5-year goals.

·         Require working age children to work or volunteer at least ten hours a week.

·         Require that children save at least 25% of their earnings or gifts they receive.

·         Teach children the importance of relationship building by requiring them to call friends, family, teachers, coaches etc. on their birthdays and to send thank you cards for gifts or help they received from anyone.

·         Reassure children that mistakes are good not bad. Children need to understand that the very foundation of success in life is built on learning from our mistakes.

·         Punish children when they lose their tempers so they understand the importance of controlling this very costly emotion.

·         Teach children that seeking financial success in life is good and is a worthwhile goal. Children need to learn what the American Dream is (or living in Australia, the "lucky country") and that it is something to be pursued in life.

·         Children need to learn how to manage money. Open up a checking account or savings account for children and force them to use their savings to buy the things they want. They need to learn that they are not entitled to things like cell phones, computers, fashionable clothes, flat screen T.V.s etc.

·         Require children to participate in at least two non-sports-related extracurricular activities at school or outside of school.

·         Parents and children need to set aside at least an hour a day to talk to one another. Not on Facebook, or on the cell phone, but face to face. The only quality time is quantity time

·         Teach children how to manage their time. They should be required to create daily “to do” lists and these lists need to be monitored by parents.
The goal should be to accomplish at least 70% of their tasks on their daily “to do” list.

WEALTHY PEOPLE DO CERTAIN THINGS EVERY SINGLE DAY THAT SETS THEM APART FROM EVERYONE ELSE IN LIFE

Wealthy people have good daily success habits that they learned from their parents.

These daily habits are the real reason for the wealth gap in our country and the real reason why the rich get richer.

Unless we teach our children good daily success habits, and level the playing field, the rich will continue to get richer and the poor will continue to get poorer.

Source:

http://propertyupdate.com.au/will-child-rich-poor-15-poverty-habits-parents-teach-children/

Tony Robbins 3 Effective Ways To Achieve Financial Success

by Jared Kleinert

Last week, I was talking to Joe Polish, Founder of Piranha Marketing and the Genius Network, catching up on recent happenings and discussing his latest efforts, helping Tony Robbins promote his latest book, MONEY Master the Game: 7 Simple Steps to Financial Freedom.

Joe, along with his podcasting partner-in-crime, marketing guru Dean Jackson, brought together the legendary Tony Robbins, as well as thought leadership Robin Sharma, JJ Virgin, and Mike Koenigs, for an incredibly insightful conference call on the I Love Marketing Podcast.

After listening to the interview, I wanted to share with you some of my biggest takeaways from the conversation because…when Tony Robbins shares his 7 simple steps to financial freedom…you should listen!

Here’s my 3 top, curated takeaways for all of you!

 1 - Become More Valuable In Order To Make More Money (And Here’s How!)

The first question in the interview came from Robin Sharma, the world famous leadership development effort and bestselling author of many, many books on the subject. He recalls the story of Jim Rohn’s advice to a young Tony Robbins, where Jim Rohn said to a seminar group that Robbins was a part of, “All you have to do to earn more money in the same amount of time is to become more valuable to the marketplace.”

This has obviously struck a chord with Tony, and the philosophy is the basis of many of his companies, coachings, and this new book, so Robin asked Tony, “For anyone who wants to be more valuable, is the strategy to develop ourselves…or is it to focus on generating more value through our work.”

Tony’s response (summarized)…The most important thing you can do is to constantly grow personally. Spend every day working on yourself because (as Warren Buffett would agree) there is no greater investment you can make than in yourself. When you do that, you will become more valuable to the marketplace, and have the ability to make more money.

After a system for self-improvement is in place, you need vehicles for sharing that new value with others through your work. The best vehicles are becoming a business owner, and also becoming an “owner” of your own personal investments.

The first is riskier, so the second is crucial for longer term strategic safety. With these vehicles, you can take your increasing value and share it with others exponentially.

 2 - Health IS Wealth (And What You Need To Find Breakthroughs In Your Life)

Up next to question the “money master” was JJ Virgin. JJ is also world-renowned as a celebrity nutritionist and fitness expert, and she asked Tony for the three things we need to look for in order to make breakthroughs in our lives in our finances, health, and lives.

In response, Tony recalled a memory where he encountered a Canadian billionaire who was close to 400 pounds in weight. While others whispered, “He’s so rich! He’s so rich! He’s a billionaire,” Tony brought the experience back to earth by noting that, without your health, you are certainly not rich.

More importantly, there are multiple types of wealth and different definitions of success (as I’ve previously discussed myself on Addicted2Success.com). And, in order to continue building your success, you need to find the breakthrough moments in life that allow you to finally lose weight, look for a new job, make the extra sales calls, etc.

What you need: strategies, stories, and state. Strategies will give you the systems that help you build habits for success, stories will give you the motivation, removal of excuses, and mindset reframing that is necessary to achieve those breakthrough moments necessary to have peak performance in business, health, and life, and state will give you the positive mental attitude needed to execute properly in improving the first two.

 3 - Investing Comes Down To One Thing…Proper Asset Allocation

“What’s your investment advice for a small business owner” asks Mike Koenigs, #1 bestselling author and serial entrepreneur.

While no one is the same, Tony suggests, every entrepreneur needs to create a brand new company right away. He calls this new business your “money machine”, and this new business has no employees or public-facing front.

Tony strongly advises every entrepreneur to set up a second area of asset allocation that takes a percentage of your company’s profits and/or your salary and puts it in investments that will make money work for you and compound over time. If you don’t automate this process, your growing business will suck up extra profits, or your growing lifestyle will suck up new salary bonuses, and while you may be in good shape (or in the favorited growth shape at times), when sh*t finally hits the fan with your job, company, or outwardly investments, you will still be in good shape financially as an individual because you’ve taken the necessary precautions to create a “money machine” that is created of super low risk investments based on your personal risk tolerance, age, and earning power.

In Summary

Check out Tony Robbins’ new book, MONEY Master the Game: 7 Simple Steps to Financial Freedom
to find out how some of the world’s most financially successful people have mastered the money game so you can apply those same rules to your own financial situations, and check out the rest of the stacked podcast conversation that I have attempted to distill into three major takeaways for you. All proceeds of his book go towards feeding over 50 million people in need this year.

Then, check out all the other Success Advice on Addicted2Success.com to begin finding the motivation and tactics you need to improve your strategies, stories, and states as you climb your way to financial freedom.

Feature Image originally appeared on: Oprah Winfrey Network (OWN)

Tony Robbins - MONEY: Master the Game, part 3 of 3

Get more technical with Tony in the last video, where he reveals Step 2 - Become an insider.

Because you have to know the rules of the game.



Have you heard of the Mountain of Financial Success? How high is your mountain going to be?