Want to be a Millionaire?

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W is for Wealth and Wisdom*

What I know through years of experience:

 

 

*Part of my alphabiography project

 

 

Podcasts & Productivity

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Photo by Jonathan Velasquez

A year ago,  I read the book “The $100 Startup.”

I hardly remembered what I read, but I recently listened to a podcast (Optimal Living Daily) where the podcaster reviewed this book. The big takeaway (among many) is that people spend an awful lot of time trying to blaze their own trails to success when they can simply follow someone who has already achieved what they want.

The reasoning, Justin (podcast host) believes, is because it feels good to try to create our own means and methods. But if you really want to achieve your goal(s), the most efficient way is to simply follow what someone already did.

This makes sense! Why reinvent the wheel?

We feel good and effective as we blaze our own trail, because we feel so busy.

But do not confuse “busy” with “productive.”

Check the podcast out, he covers many great writers and entrepreneurs. Justin’s voice is very even and mellow. It was easy to listen to as I walked my dog.

 

 

Wishes

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When I was very young (maybe five years old),  my mother made rings out of dandelions. She’d pluck the weed and create a knot with the stem and, smiling, put the ring on my finger. I felt special and lucky. Within hours, the dandelion wilted, the yellow flowers tinged with brown. It was my first lesson of impermanence.

We were poor and a part of me knew it, but mostly, I was blissfully ignorant. I reveled in the smell of burning wood in the Iowa autumn. I loved the dandelion rings my mother made and I loved watching “The Muppets” on TV. All of this was (relatively) free. I thought everyone had a father who came home exhausted and discouraged. I thought everyone shared one bathroom in their family. I thought everyone fought over money.

I’m a lot older now and I have learned this: wishing for “stuff” always leads to disappointment. Nothing you can buy will deliver anywhere near the satisfaction of smelling burning wood on a Midwest autumn evening, or watching the “Muppets” on a chilly Halloween night or wearing a dandelion ring your mother makes just for you.

Nothing.

 

 

 

 

 

 

 

 

Money Is Only a Tool (Ayn Rand)

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What are your beliefs about money? That you’ll never have enough? That only greedy people are rich?

Money is energy. You receive it in return for your work. If your work is valuable, you will receive currency. Focus on the giving and the rest will take care of itself.

We make a living by what we get, but we make a life by what we give. –Winston Churchill

Funds (like people) escape those who squeeze too tightly. Do good work, serve people generously, and wealth will come.

Of Pastries and Pity

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Ava’s doughnut, minus the tax.

Willey and I teach our girls life lessons. Here are a few examples:

  1. Beware of insecure people. They lack self-love and thus, have no love to  give to you.
  2. Cheap shoes are never worth the savings.
  3. Cheap razors, however, are a wise choice. They are disposable for a reason.

And a biggie:

Taxes are painful and  unavoidable. I illustrate this lesson kinesthetically using doughnuts. Here’s how it goes:

Ava gets her doughnut. She wordlessly hands it to me.

“Tax,” I proclaim, as I take a big bite.

I hand it back to her.

She eats the rest.

As in life, taxes are especially bitter when taken out of your bonus check.

To drive this home, Willey will take tax out of their steak dinners or fancy pasta dishes when we go out. If hangry, the girls are driven nearly to tears.

Hey, it’s for their own good.

“Tough love,” I think they call it.

The Only Book You Need…

for money guidance is this one:

tobias

This would make an EXCELLENT gift for a student going away to college. If I had known this information at that age, I’d be RICH!

It’s never too late to learn about investing and saving.

You’ll learn about: Minimal Risk (savings and tax strategies), The Stock Market, and Family Planning.

I read Tony Robbins’ Money: Master the Game  and I believe this one is better, because it’s more simplified and provides a lot of practical advice.

Check it out!

Demands

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“The thing women have yet to learn is nobody gives you power. You just take it. ”

Roseanne Barr

I love this quote.

At the time of this writing, women make 79₵ to a man’s dollar. Isn’t it time to remedy this?

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Recently, Robin Wright has been in the news for negotiating a salary equal to her male co-star, Kevin Spacey. HOW she did could prove to be an invaluable lesson for women everywhere.

  1. Conduct research. She found that her character was just as appealing if not more, than Kevin Spacey’s.
  2. Arm yourself with the data.
  3. Make your case and make your demand(s). Be prepared to walk away.

Some women argue that Robin is already wealthy. That she makes millions and can walk away. True. But still gutsy, no? She could have settled like so many other actresses. She didn’t settle.

“I wasn’t building my salary bracket. If you don’t build salary bracket with notoriety and presence, you’re not in the game any more. You become a B-list actor.” – Robin Wright

“The Guardian”

I believe that women’s worst enemy is not a successful man, but a fellow insecure woman.

“This producer was a woman, a type I became acquainted with at the beginning of my stand-up career in Denver. I cared little for them: blondes in high heels who were so anxious to reach the professional level of the men they worshipped, fawned over, served, built up, and flattered that they would stab other women in the back. They are the ultimate weapon used by men against actual feminists who try to work in media, and they are never friends to other women, you can trust me on that.”
Roseanne Barr

If women are going to gain gender equality, we need to support each other.

I’m buoyed by the following article. It convinces me that the younger generation of women are smart, brave and DO DEMAND what they want:

Aerie Lingerie is an upscale lingerie company. They listened to women and modified their ad campaign: they stopped Photoshopping their models and began a “body positive” lobby. It worked. Their sales increased by 20%.

Money talks.

 

“…We really felt like girls today are just more independent and stronger than ever. We just knew that it would really resonate with this generation.”

Aerie’s president, Jennifer Foyle

 

The Girl and the Dress

My 14 year old daughter and I have been arguing. A lot. All this year.

She’s suddenly become that typical teenager who argues, whines and criticizes her mother for everything (“Why did you wear that, mom?”) while rolling her eyes.  I can live with this (sort of), but what has really gotten to me is how she takes everything for granted. She constantly asks to eat out. She wants new clothes. But when she changes out of them, they lay crumpled in the corner on in her bed. I have had family and friends look at me sideways as if to say You’re going to let her get away with that?   But I have had to choose my battles. Homework, violin practice, cleaning her room, getting out of the house at a decent time in the mornings – we have quarreled many times.

I have to admit, many afternoons, I am tired and she wears me out and I purchase food as snack or dinner, when I’d really rather not. I’m tired from working all day (90 kids/day) and I don’t want to cook that badly, either.

But today, when she asked me when we could buy her ANOTHER dress for a SECOND dance at school, I put my foot down.

“Josie, I’m not buying another dress. You have a savings account and you can use that money.”

“But mom! I need another dress that I can wear for the next recital and audition. I’d wear the new dress several times.” (whines)

“You have plenty of dresses. You CAN buy a new dress, you just have to pay for it and you have money.”

She thought and sulked for awhile in her room. Her younger sister has more money in savings and Josie has become competitive lately. She never used to care, but she has stopped withdrawing from it in recent months. The girls get cash gifts from grandparents and it goes into these accounts.

“I’m going to wash the baseboards to make some extra money,” she said.

I smiled. Inwardly.

Willey helped her get a bucket and rags. On her hands and knees, she started cleaning. I had to look away. I felt a little like the wicked stepmom with Cinderella. At the same time, I felt really good about it.

She washed half the baseboards and then abandoned it. I mentally noted I would not pay her more than $5. She worked for half an hour. That’s half the minimum wage. I refused to pay her guilt or inflated money.

She got on her bed with her cell phone. Half an hour passes.

“Mom, Megan is going to let me borrow one of her dresses.”

“OK. That’s great!”

“Yep.”

Cue: “The Dance”

http://www.youtube.com/watch?v=kFz7rZY_DDI