Yesterday I determined that I would like to work on my website some more and lay the groundwork for this I ternet marketing business.
What did I do instead? Went out and partied with some of my friends until about 6 am slept briefly and then more funkin, around until about 5pm.
I’ve come to realize that thekind of physical and financial freedom that I desire is the kind where I can travel and explore the world with an undefined schedule for months at a time.
The financial freedom I am building is mainly for the time freedom that will allow me to enjoy these adventures.
I realize that the mobility of an Internet based business will provide me the convenience of being able to grow my residual income from about anywhere in the world where there is a wifi connection. I like the idea of this.
Although I love real estate, and know that it will eventually play a huge part in my growing assets, I have decided to build a residual and ongoing income through online Internet marketing first so that I can easily travel and grow my business at the same time while I am young.
Since traveling and exploring is one of my main passion, I realize I must take action now.
Well I know it’s been a while since I have written to you. I’ve been keeping myself rather busy with many hours onthe job, exercise, study, a touch of social activites, and not as many wealth building actions as I would like.
I’m still at my sales job where I have been selling advertising to about 120 different industries. It’s a fun job that pays well and I love the people I work with. It is also rewarding in non social and monetary ways because I love selling; however it is still a job. It is still an employee role that I play. It is still a part of the “rat race” that kiosaki refers to.
In reference to my financial freedom, I have still been adding money to my savings and financial freedom account on a daily basis. My cash reserves are growing, but have yet to produce even 1 dollar of passive or portfolio income.
I have been sporadiclly looking at potential real estate deals and making offers. Many of the properties are REO (real estate owned) by the bank. In our current market I have found that alot if these foreclosed properties wil recieve numerous offers and alot of he strongest competition comes from first time home buyers who are willing to offer more than a cash investor at wholesale prices.
I need to implement a new strategy for aquiring real estate and bargain prices. I know that the current condition of the market is an excelent time to invest and something that many sophisticated Investors have been waiting a long time for.
I have a mind to put together a marketing campaign and focus on specific targets to attract motivated sellers to call me with the properties that they need to sell. Already, I have created a rough outline of a marketing plan for the next few months, but the first step is to come up with a catchy name and memorable logo that I can brand the market with.
FFA, Financial Freedom Account, Friends, Investing, Real Estate Investment, Sales, The Real Estate Market
Rich dad said, “Everyone has the ability to build a financial ark to survive and flourish in the future. But you must invest time in your financial education to build an ark with a solid foundation.”
“Take control of your own financial ark and buy or build assets that generate cash flow. Include real estate, busineses, and paper assets. As soon as your income from your assets (your money working for you) exceeds your expenses you are financially free.”
-Rich Dad’s Prophecy
by James Quinn
March 11, 2009
[Excerpt from Grand Illusion- The Federal Reserve]
“The average American does not know much about the Federal Reserve. The government and the Federal Reserve prefer to operate in the shadows. If the American public understood what their policies have done to their lives, they would be rioting in the streets. Henry Ford had a similar opinion:
“It is well that the people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.”
Most Americans believe that the Federal Reserve is part of the government. They are wrong. It is a privately held corporation owned by stockholders. The Federal Reserve System is owned by the largest banks in the United States. There are Class A,B, and C shareholders. The owner banks and their shares in the Federal Reserve are a secret. Why is this a secret? It is likely that the biggest banks in the country are the major shareholders. Does this explain why Citicorp, Bank of America and JP Morgan, despite being insolvent, are being propped up by Ben Bernanke and Timothy Geithner?
The history of National Banks in the United States has been controversial since the Founding Fathers signed the Declaration of Independence. The Constitution of the United States unequivocally states that only Congress has the authority to coin money, not an independent bank owned by unknown bankers.
The Congress shall have Power to coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures
Article 1, Section 8 – US Constitution
Our most recent horrifying experience with an all powerful central bank has led to the current worldwide financial crisis. In less than one century the Federal Reserve Bank of the United States has destroyed our currency and has allowed bankers to gain unwarranted power over the country. They had the ability and opportunity to bring down the worldwide financial system.”
By Simon Kennedy
By Joseph Chaney, Asia Resources Correspondent
HONG KONG (Reuters) – Government infrastructure spending will drive a rebound in metals prices, while gold may reach $2,000 an ounce in the next year if the dollar falls, an executive with UK fund house Schroders (SDR.L: Quote, Profile, Research, Stock Buzz) said.
”The potential for very sharp price rises in industrial metals this year is very good,” emerging market debt and commodities product manager Christopher Wyke told Reuters.
”We think in infrastructure the cutbacks will be very limited. When a recession happens, governments in the U.S. and elsewhere accelerate infrastructure spending.”
He said that despite the global economic downturn, Asia retains its appetite for infrastructure spending, which will support prices of metals such as copper and zinc. Prices of the two metals have fallen around 58 percent and 54 percent respectively from a year earlier.
”The problems in Asia are not structural, they’re essentially cyclical — a very severe cyclical downturn,” the London-based Wyke said in an interview at his firm’s Hong Kong offices.
Wyke does not directly manage funds but oversees Schroders’ commodities fund products which hold $4.5 billion in assets, including a recently launched gold and metals fund.
He said Chinese infrastructure spending will be a key driver of metals demand and prices.
”The level of credit in China has been shrinking in the last 10 years, the banking system has been reformed, and they have $2 trillion in reserves,” Wyke said.
So, is it likely there’s going to be wholesale abandonment of infrastructure investment in China? No.”
GOLD BULL
While Wyke has backed off from his stance last June that gold could reach $5,000 an ounce over the next few years as a refuge from inflation, he still expects the precious metal to show stronger gains in the second half of 2009 if the dollar falls and inflation fears mount.
”If you saw the dollar resume its fall and maybe toward the end of this year you started seeing people worried about the inflationary consequences of U.S. government policies, then gold prices could move up very sharply,” Wyke said.
”In the next 12 months, if that were to happen and the dollar were to fall, a gold price of $2,000 an ounce is quite likely.”
Spot gold, which was trading at $937.20 around 0835 GMT (4:35 a.m. EDT) on Monday, has risen 6.6 percent in 2009 as investors seek a safe haven of value amid the global slump.
Schroders’ gold and metals fund was up 6.15 percent this year at the end of February, Wyke said. At the end of January, the fund was worth nearly $61 million, and is down 34.3 percent since its launch in July 2008. Continued…
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