Your Wealth Cycle

A true warrior sees what others do not see. The key element of being able to see what is going on and realize the real opportunities is the mark of a successful person. As I sit here and write this e-mail, the stock market is down over 100 points, talk of the foreclosure rate going up and the debate continues on whether we are in a recession or not continues.

What most people don’t realize that every time we have had economic setbacks, more millionaires have been created than in other times. With conflict there stands the opportunity for those with specialized knowledge to step up and take advantage and create huge successes. We are definitely seeing that in the real estate investing world right now. If you have ever wanted to buy a new home or a building for your business, now is the time to get serious about getting it done. There are tremendous opportunities for those that understand the basic principle of buying low and selling high.

In the martial arts we are constantly working on the basics and understand that success is a slow and steady process. Why more people don’t apply this same concept to their financial success is one of those mysteries of the mind.

Loral Langemeier recently flew her private plane to Colorado and we had a chance to spend some time together. She gave us permission to reprint the following information from her new book The Millionaire Maker and I felt it would be appropriate right now for all of us to review.

Building Your Wealth Cycles

How would you like to develop the mental, emotional and physical capacity to create and continuously accelerate your wealth for the rest of your life? To do so requires an effective methodology that gets you into and keeps you in a wealth cycle. This methodology, what I call a Wealth Technology, is a specific and proven system for creating financial literacy and success.

There are three components to the wealth technology, each consisting of clear steps that will build your wealth cycle:

1. Your Conditioning
2. Your Foundation
3. Your Wealth Acceleration

Your Financial Conditioning

Your financial conditioning consists of the beliefs, attitudes, and thoughts you carry about money and wealth. Your wealth psychology was conditioned at a very early age by your environment, family, and social network. Any negative or limiting beliefs you’ve carried about money or wealth directly affect your ability to get and keep wealth. These beliefs form the core of your success or failure, and raising your financial consciousness is imperative if you want to build your wealth cycles.

Raising your financial consciousness and eliminating limiting conditioning about wealth involves identifying and changing the paradigms that rule your financial life. A paradigm is like an automatic program installed early in your life that continues to keep you out of a wealth cycle. Identify your operating paradigms by exploring your past. What attitudes or beliefs did your parents or grandparents hold about money? What messages did you receive about wealth or wealthy people? Note how you feel when you see a mansion or expensive car.

Changing your conditioning is a life-long process. As you uncover and resolve one limiting belief, such as “wealthy people are greedy and self-serving”, another will likely take its place. Resolve to identify your beliefs and raise your financial consciousness by taking actions that are in alignment with the results you want, rather than with your old beliefs.

Look for and change:

• Limiting thinking to No Limit thinking
• Limiting language to Decisive language
• Limiting action to Decisive action
• Limiting results to Expansive results

Your Foundation

Any building requires a solid foundation or it will crumble. Financial wealth also requires a good foundation that consists of four components: your financial baseline; your financial freedom day; managing your lifestyle cycles; and, building a wealth cycle foundation.

Your Financial Baseline

Your financial baseline is an honest assessment of your current financial position, including your current income, expenses, assets and liabilities. For many people locating all the information necessary to carry out this task requires intense organization of their financial filing cabinets. Hence, there are three critical steps to completing your financial baseline:

1. Organize your financial filing cabinet
2. Complete your personal and business Profit and Loss (P&L) statements
3. Complete your personal Balance Sheet

Creating your financial baseline can be an emotionally draining, even harrowing experience. Your financial baseline is a reflection of your past financial awareness and conditioning. Once known, you can change course direction and begin creating the wealth and life you really want.

First, you need to organize what I call your “financial filing cabinet.” Most people have a lot of paperwork and clutter around their filing cabinet. You need to create some sense and logic to the flow of your financial information. Create good records of all your legal and personal documents, financial information, banking records, income tax records, and even housing records.

Second, complete a personal and business profit and loss statement, also known as an income statement. Here you list every source of income and every expense. The bottom line is your net income (or loss) each month.

Third, complete a personal balance sheet, which is a list of everything you own on one side (assets), and a list of everything you owe on the other (liabilities). List the equity in your home on the asset side and your mortgage on the liability. The difference between the two is your net worth.

To Your Success,

Terry Bryan, President
Warriorwiz Success Systems

Http://www.streetwiseriches.com