Goal Setting Motivational Software
As you develop goals, you will begin to visualize how the other side of the forest should look, even while you are still deep in the woods. This ability allows you to anticipate what you will need to do, what abilities you will have to attain, and just how much money you may need to accomplish the current and upcoming tasks. You will also begin to see other ways to obtain your desired goals without using cash.
Your goals have to be your own goals and not your friends' goals that have been superimposed on you. This goes for your family goals, too. But what then Whom do you entrust with this personal information Whom do you let know your secret The answer is Keep your goals to yourself and only the most important members of your advancement team. Develop an Advancement TeaM' Every person who has a plan should have as part of that plan an advancement team. This team is made up of people who can advance your interests toward your goals. The available members to the team are many, and best of all their services may be free. Others may charge you only for their performance, while others will charge you by the hour. In any event, to attack a future without an advancement team is foolhardy. Of these advancement team members, you entrust your goals only to specific team members. The general team members should be told only what they need to know, as they need to know it. (It is like sending them...
The total picture now comes together You have your goals, you see your abilities and your liabilities, and you begin to develop your team members and your techniques at the same time. The only thing that is keeping you from success and attainment of your goals is fear of failure, or just fear itself. There is still one element you need to attend to. It is the development of your comfort zone. Once you have finished this last task, risk will be minimized and success is just around the corner.
Various stocks are out there, as well as various investment approaches. The key to success in the stock market is matching the right kind of stock with the right kind of investment situation. You have to choose the stock and the approach that match your goals. (Refer to Chapter 2 for more on defining your financial goals.) Are your goals long term or short term Answering this question is important because individual stocks can be either great or horrible choices, depending on the time period you want to focus on. Generally, the length of time you plan to invest in stocks can be short term, intermediate term, or long term. The following sections outline what kinds of stocks are most appropriate for each term length.
I can't stress enough how important goal setting is to being successful in your trading. If you don't have daily, weekly, monthly, and yearly goals for your trading, it will be very difficult for you to visualize your success. This is because you will not have something specific to aim for. To be at our best, we always need a clear, measurable goal to strive for. Remember, man (and woman) are at their best when they have a clear goal securely in mind.
You need to look at your assets as a route to your goals. Through barter and exchange, you can frequently go directly to GO and collect that desired benefit. That three-year-old car sitting in your driveway might be the down payment to get you into that duplex across town that in turn will help you attain a part of your desired goals.
You should always review your goals before making the offer to be sure the property fits in the scheme of things. There is no sense in starting on a negotiation that will end with a property not suited for your goals. A simple review of those goals will put you back on the right track. You will find on occasion that what has happened is that emotion has become an insider to the deal and has, at least temporarily, replaced your goals or at best clouded those goals from clear sight. Watch for that, because once you get away from the goals and let emotion run wild with the deal, you will find yourself rationalizing away the best part of your plan.
Begin with Your This chapter walks you through the goal setting process. Word of Caution about Goal Learning to Visualize Your Goals 25 Are Your Goals Your Goals Will Help You Properly Finance Your Real Estate Investments 29 Who Do You Share Your Goals Get Your Goals, Team Members, and Your Abilities and Put This chapter shows you how a win win strategy begins with your goals firmly in focus and ends with helping the other party to the transaction move closer to their goals.
Before you're even ready to start investing in funds, your personal finances need to be in order, so in Part I, I give you some financial house-cleaning tips. You also discover the importance of fitting mutual funds to your financial goals. After your finances are shipshape and you've identified your goals, you are ready to find out how to pick great funds, how to avoid losers, where and how to purchase funds, and how to read all those pesky reports (such as prospectuses and annual reports) that fund companies stuff in your mailbox. Part I touches all these bases.
Just about every person has made this comment at one time or other Boy, that person sure was lucky to be at the right place at the right time. Timing is very important to just about every decision you can make, and when it comes to investment decisions, timing is generally the most important aspect of the entire process. However, for timing to work there must be recognition of opportunity. Unless you see a way to reach for your goals, the right time just never seems to come around. As for being at the right place, that is up to you. Your gold mine is likely to be found wherever you want to look for it that is, if you truly want to take the time and effort to learn everything you can about the kind of property you want to buy in that chosen location.
It should be clear that a property could be difficult to sell if the seller feels that he or she must receive all cash to agree to the sale. There is, however, a potential market for the property at an all-cash price. Yet, the seller usually does not want to reduce the price to that level. This is a typical situation that often can be solved by a hard look at the seller's most important goals. By doing this, it may be possible that the original plan of action was not the best one to follow. In Chapter 2 ' you will see more on this aspect of goal orientation and investment strategy achievement.
Make recommendations to help you achieve your goals. college education Or is buying a vacation home in Florida your main priority By telling your advisor what you hope to gain, that person will be able to guide you along the best path to help you reach your goals. An advisor's job, however, is not to make the decisions for you. He or she merely suggests what should be done. You are the decision maker. It's important to have realistic goals. Perhaps you can't afford to have your vacation home in Florida just yet. That doesn't mean you should give up the idea, you just have to work with what you have. Your advisor will be able to put you into investments that will have the potential to make enough money to get your vacation home.
In Chapter 1, you learn what it takes to be a real estate investor the virtue of patience. We provide real-life examples that guide you through the investing process and help you develop the necessary skills to be a successful real estate investor. Getting rich is a matter of degree. How rich do you want to be, where do you start, and how do you reach your goals We help you answer these questions in Chapter 1. In Chapter 10, we provide specific examples of how to treat real estate investing as a business. That includes how to set up your company and your office, set goals, bring in partners, hire employees, and take the steps necessary to be a professional real estate investor. You'll assess your strengths and weaknesses and bring together the important members of your real estate success team.
In order for your financial advisor to guide you along the path to achieving your goals, he or she needs to have a clear understanding of where you stand presently. This means figuring out your net worth and liquid net worth, examining your cash flow, and determining your cash reserves. By analyzing your current situation, your advisor may find ways to help you save money and reach your goals faster than you may have known. Redirecting some of your money could help you put money away for retirement, or achieve another goal, without it seeming like you are spending any more money than you currently are. Do you enjoy sitting at your computer, trying to figure out which mutual fund is the best option for you Chances are, you don't. Today, there are so many different types of mutual funds, stocks, bonds, and investment choices, that it would make your head spin. An advisor's job is to sort through all these choices and match specific investment vehicles with your goals, needs, and time...
By utilizing Internal Revenue Code (IRC) Section 1031 (also called the tax-free exchange provision), a buyer or seller may enter into an agreement that will have more specific benefits than a more conventional transaction because of the reduced tax liability to one or more of the parties. This option is open to you only if you know how it works and how it fits into your goals. Chapter 12 illustrates the strategic moves you can make as a buyer or seller (or broker) to use IRC 1031 tax treatment to obtain marvelous benefits.
Perhaps the most devastating cost of not planning is the loss of your personal goals and objectives. How many times have you heard someone say that they wanted to retire at age 55 but were stuck in a job that they hated until 60 or 62 That's seven years later than they wanted Not planning can cause you to work longer than anticipated. Having an advisor and having him prepare a financial plan for you will help keep you on track to meeting your goals. However, this is just the beginning. Your plan and advisor won't instantly make you more money, nor will they show you any get-rich-quick schemes. Things like that just don't work. But there are a few tricks of the trade to help you.
TO TUNE IN TO THE MARKET ITSELF, YOU MUST RELAX YOUR PERSONAL GOALS Despite what all the do it better gurus are saying, we diminish the present any time we set goals. In the market, things sometimes work out the way we want them to, but sometimes they don't. We don't enjoy our preparation for trading the market if we are worried about losing. We don't enjoy the miracle of our children's growth if we worry about how they will turn out. We don't enjoy maturing if we are worrying about what malady will take us from this life. We lose the freedom to soar that comes from enjoying the vast riches that life and the market are offering us in the here and now. In trading, if you set your heart on a certain trade result, you enter into a state of rigidity. On the other hand, if you set your heart free, you enter a state of flow. The question then is How can you trade without setting goals The answer is Set as many goals as you want. Then do the necessary preparation, and work to bring that goal...
In selling your most difficult property, the maximum appeal to the marketplace and the maximizing of your goals will be in covering all possible bases. Investors who look after details are generally the most successful investors. Your devotion to the use of the tools of finance will demand that you anticipate your ultimate marketing plan, which should include various financing approaches to suit the probable investors who will buy your property.
Since so much does depend on this goal-setting ability, I have provided a detailed chapter on goal setting and development of your comfort zone. Each chapter will become a foundation to your future as a real estate investor. If your role in the game of financing is that of a real estate broker, you will have the added burden of acting as fiduciary in the transaction. However, you will also have the advantage in the investment game and will find that all of the techniques covered in this book will become useful tools in helping you buy and sell properties.
The foundation for a relationship between an investor and an investment management firm acting in a fiduciary capacity is good governance. A documented investment policy statement delineates roles and responsibilities, strategic goals for a portfolio including asset allocation ranges, performance benchmarks, rebalancing procedures, and expectations for managers through guidelines. Adhering to the elements of an investment policy statement can be facilitated in conjunction with utilization of a third-party fiduciary. In this role, the third-party fiduciary makes investment decisions in accordance with the preset policy and implements asset allocation and manager selection decisions.
This chapter walks you through the goal setting process. The importance of setting your own investment goals is critical to getting the maximum benefit out of your time and effort. Once you have your goals firmly established, every decision you make about your investments will be directed to one ultimate result the attainment of your goals. Because real estate financing has an immediate as well as a long-term effect on those investments, clear goals help you select the best financing tool to get the most out of the investment. Because the actual goal selection process is so important, I have devoted an entire chapter to this topic.
The fact that you may set goals does not ensure success or happiness. Some people attain wealth and happiness without having gone through any specific goal-setting process. Yet, motivation within these people often is at a very high level. While they may not have made a conscious effort to set goals, they often are driven by high ideals or are out to prove something to someone. The kind of goal setting that I refer to relates to the prudence of setting your priorities straight. You would not get much out of training to be an Olympic swimmer by spending all your energy on the ski slopes. It is the same with any business or investing arena. A computer designer needs to establish a foundation that will build to the result that person is shooting for. A real estate investor needs to set a foundation of knowledge and experience in much the same way, but directed to a different topic and different result in mind. what you need to do each step of the way. The goal of this chapter is to help...
First Get comfortable. Find everything about your position that is not comfortable and change it. Then, when you feel you have a comfortable position, tense every muscle in your body in any random order that works for you, then, one by one tell each muscle to return to that comfortable position. Do this for about thirty seconds, and then relax.
What kinds of expectations are realistic for a beginner The best approach is to set short-term, intermediate, and long-term goals. Be sure your goals are realistic, specific, and attainable. For example, your goals may look like this When you develop your goals, spend plenty of time. Be sure to look at the positive and also anything that could negatively impact your goals. Imagine that you're preparing this plan for your boss what would he or she think about it What aspects would you need to clarify and present in more detail if you had to sell it to someone else
Talked to different traders, the more their answers all sounded the same. Realistic, measurable goal-setting is extremely important to being successful in trading. In fact, just trying to make money each day (without a goal) is a road to failure. And you know what It definitely shows up in my trading results every time. The more you practice realistic goal-setting, the easier it will get for you to do on a consistent basis.
Mind you, money and the desire for it are very strong motivators and can drive many people to get money but little else. It is far better for you to understand that there are people so motivated and to use their motivation for your own benefit. Money is relative and its worth changes as you attain it. The amount of money you think it might take to attain your goals can be much more than your goal actually requires. Define your goals in terms of what you want to attain, where you want to be, what kind of lifestyle you want to live . Avoid establishing a monetary value to either the effort or the results. The true value of a goal is successfully attaining it. The money aspect of goal setting will play its part later on. Make sure that your goals fit into your abilities or the abilities you plan to attain . It should be obvious that if your vision has you doing heart transplants and you are not yet out of high school, you have a lot of work ahead of you and you must plan accordingly. But...
Once the revised goals are established, you can set your intermediate goals to guide you along the way. These intermediate or interim goals may include a number of items that may not be necessary at first, but may at the outset go down on the list. Your preliminary list of interim steps to attain your goals could look like this Your approach to setting your goals should follow similar stages in real life. This need not be an overnight event, and if you are married or have dependents, they should be a part of this process.
The rest of this chapter is an introduction to building your comfort zone. The last chapter of this book is a more defined look at all the steps you will take. However, do not jump to that chapter yet. There is much to do to get ready to start building your comfort zone. However, I do want you to have a brief look at the benefits of this process so that you will be encouraged to build that foundation. Your goals are critical. Without a clear set of goals, you will not be able to formulate or benefit from your comfort zone properly. To establish your comfort zone, begin with your goals. Remember when you role-played the lawyer, the list of four goals were the office building, the home, the sailboat, and economic freedom. A comfort zone should be devised to help you attain those goals. However, in getting started, the comfort zone may have little relationship to the final product.
Some people are critical of the real estate seminar business because it attracts so many people to real estate investing, yet few people make the grade in real estate, even with the right education. Success takes more than education it takes massive action in the direction of your goals. If you don't plan to apply new information, then getting an education and spending money on seminars and books is a waste. Nevertheless, given the two extremes, you can lose a lot more money by making a mistake than by attending seminars and doing nothing. So invest in your education, or you'll learn an expensive lesson with the first mistake you make. We call that going to a real-life seminar.
Your ultimate purpose in using options should be to augment or protect your conservative goals. If your goals are best served by simply buying stock and not using options for any purpose, that is the policy that should overrule all other possibilities. However, some option strategies are compelling enough that they cannot be rejected without further study.
Some commentators have stated that your home isn't an investment, because you're not renting it out. We respectfully disagree Consider the fact that many people move to a less costly home when they retire (because it's smaller and or because it's in a lower cost area). Trading down to a lower priced property in retirement frees up equity that has built up over many years of homeownership. This money can be used to supplement your retirement income and for any other purpose your heart desires. Your home is an investment because it can appreciate in value over the years, and you can use that money toward your financial or personal goals. Home Buying For Dummies (Wiley), which Eric cowrote with residential real estate expert Ray Brown, can help you make terrific home buying decisions.
Once your goals are firmly established in your mind and you are under way with your plan, the critical steps are just around the corner. You must implement your plan with the financing techniques, and how you use them will become an important aspect of your success in real estate investing. All the financing techniques and tips described in this book can be utilized in combination with each other, giving you endless opportunities to best solve a problem at hand or seek the best format to buy or sell your real estate to take you closer to your desired goal. The subtleties of these techniques will begin to become evident You should approach each real estate investment with the question, Do I need to buy this If the answer is yes, your whole approach to the transaction may be greatly altered. In essence, you would be forced to find a technique that solves that basic need (to buy that property), with the secondary benefit of doing so at the best terms possible. However, if the answer is...
This chapter guides you through the early stages of getting your act into proper gear so that you can present your case in a businesslike way, and move into the close of the transaction. You will find that the most essential part of any negotiation is to have an absolutely clear vision of your goal. If you don't know what it is you are negotiating for, your end result is apt to be far different from your original desire. Also critical is your understanding that winning doesn't mean coming out ahead of the other party. Winning is achieving your goals. Win win situations occur when each party attains a substantial percent (not necessarily 100 percent) of their critical goals.
The first step in any negotiation is to review your goals, or if you are negotiating for someone else, make sure you have a clear understanding of the goal desired. Each situation may present a different set of circumstances, but the end result should be clearly in mind. Assume, for example, that you are in the hospitality business, and want to add to your existing holdings of hotel properties. Long before you sit down with a seller of a property you want to buy, you must be sure you understand what kind of property and the criteria of that property that will work for you. Assume that your long- term goal is to establish a steady income at the end of a 15-year period and that the apartment complex will fill that need by paying off its debt by then. Once the total goal is seen, visualized, and written down, you can move deeper into the basis of the transaction in preparation for your negotiations. One of the next stages is the review of options open to you to meet this goal. How many...
There are no tricks of the trade in the purest sense of the term. But there are secrets to success in life. And as long as you know those, you'll be successful at anything. First, you have to set goals. Goals will be the foundation of the roadmap for your success. They will also tell you when you have arrived, so you can pat yourself on the back. Everyone needs that reinforcement. Not coincidentally the next chapter is all about goal setting.
After you learn the entire 40-Day Plan for Success in Real Estate Investing, it's important to go back and review. Be sure to revisit your goals and perfect days of work and play, because you could realize that you have much more opportunity than you'd first imagined. With any and all limits lifted, you can set your sights even higher. Make reviewing your goals a regular part of your work routine. Review your plans every few months, updating them as necessary. You will start achieving success, and your objectives will grow more exciting and fun. If you're making 2,000 to 8,000 a month today and you start making 20,000 a month through success in real estate investing, your lifestyle and goals will likely change. For the first five years I was in real estate, I never thought about any of this goal setting or forward thinking. My business was operating very well in Nashville, Tennessee. I was working between 50 and 75 hours a week and feeling stressed out. One day, I decided to stop all...
The title of this chapter spells out pretty clearly how I feel about goals and real estate investment. Having a goal is not optional. Goal setting is step number one in the process. In this chapter, you'll learn how to set your goal, what a realistic goal should look like, and set milestones to achieve it. You'll come to understand the benefits of goal setting and discover how goal power can be your key to success.
Besides your real estate goals, be sure to make overall financial goals, personal goals, family goals, and spiritual goals. How much vacation do you want to have How much time do you want to spend with your loved ones How do you want to relax erty, reward yourself. Take a small percentage of your profit and get that perfect day of play under way. Maybe you want to take a balloon ride, go on a picnic, go to the mountains, go to the beach, or go on a cruise ship whatever it is, first set your goals by writing them down. If you do not have the energy to write down your goals, I can assure you that you won't have the energy to make your real estate deals happen.
While setting your goals, don't forget to put your mind to work. Here are two examples of people who did. In my three-day boot camp trainings, students have a lot of time to do intensive goal setting. Most participants state a realistic goal of making an extra 3,000 to 5,000 a month doing real estate. This would net them more income in a year than the average family of four makes annually. Not bad for a part-time job Brad emphatically held to his goal, declaring that, after allowing himself three months to get things going, he planned to make 30,000 a month. Why not he challenged. After three months in investing, Brad called me. Instead of making 30,000 that month, he had made 42,000 from wholesaling one property. Eight months later, Brad has consistently been making between 30,000 and 50,000 a month. Since he started, there's not been one month he's made less than 30,000. Today, his average is creeping even higher. He's wholesaling high-end properties and doing high-end lease...
I'm a big believer in motivation and goal setting, both short-term and long-term. But none of that will help you unless you do something to make it happen. These 40 Days to Success will be pivotal in realizing your goals. It tells you what to do today. That's your most important question What are you going to do today What are you going to do tomorrow What are you going to do next week Your goals need to extend beyond how much money you're going to make to include the activities that will help you make your end-goal. This book will walk you through the how of real estate investing, step by step.
My goal of wanting to be my own boss wasn't really a good goal. As I said, it took me years to learn how to set goals and to take advantage of the power they harness. A much better goal for me would have included a time limit, say within one year, to become my own boss, or an earnings level, like earning 75,000 per year.
Use your goal setting, and plan what kind of business you envision. So if you're starting out and want to do 10 deals a year, tell that contact person, I'm a new real estate investor, but I have a plan, and I'm going to do 10 deals this year. I'd love to work with you. Maybe you can help me buy or sell properties.
Risk is present in any and or all investments. Most certainly, any real estate deal can fail to achieve its projected end result. This does not mean that the transaction fails completely or at all. Failure to achieve goals can mean the goals were overly optimistic. Falling short on a timetable can be a fault of the business plan, and not the goal. Most real estate investments are inherently risky because of the investor's inability to properly assess the needs of the investment. Management of the investment is one of the major factors that can determine if the investment will be a success or not. The lack of good management skills often appears when an investor acquires a property and is thrown into on-the-job-training.
Value and Risk in Leverage The Bottom Line Can Be the Most Important Criteria to Determine Both Value and Risk
You purchase a lot on which you plan to build a fast-food restaurant for a national company. It has signed a triple net lease (where the tenant generally pays all expenses including real estate taxes, insurance, and maintenance). The period of time you pay the debt and carrying cost out of your own pocket or finance them into a final development loan should be considered as part of the gross investment. Any tax advantage you may obtain by deduction of interest and so on may lessen that financial drain. In this kind of situation, a very high negative leverage would result, but would not be detrimental to the deal if you have the financial staying power. The end result (the goal is to build a fast- food restaurant) should have a positive leverage once rents begin to come in. If the leverage still shows as negative (in comparison to a free and clear ownership), then you need to rework the plan, or reassess your goals.
You'll know whether or not your goals are concrete by listening to what you say. Should you find yourself saying phrases like, If you hear of anything, let me know . . . or Tell me if you see anything that looks good . . . then you need to define your goal further. Those phrases are telltale signs of vagueness.
By changing these three simple behaviors you are setting milestones that help you achieve your goal. Taking a different route to work gives you new scenery and helps you learn about the market and the properties within it. It helps you understand traffic patterns and gives you new perspective on new areas. Using half your lunch hour to eat frees up the other half to make phone calls, meet with your team, and even visit properties. And in case you're a numbers person, a half-hour per weekday adds up to ten hours per month Finally, eliminating TV, or at least reducing your viewing time, frees up countless hours in the evenings to work on your business. Look at your own behaviors and modify them to achieve your goals.
If you're saving enough to meet your goals, you can skip this step and move ahead. For the rest of the class, however, some additional work needs to be done. To save more, you need to reduce your spending, increase your income, or both. This isn't rocket science, but it's not easy to do.
Each decade you delay approximately doubles the percentage of your earnings you should save to meet your goals. For example, if saving 5 percent per year starting in your early 20s would get you to your retirement goal, waiting until your 30s may mean socking away 10 percent waiting until your 40s, 20 percent beyond that, the numbers get troubling.
Price bars and relational components such as highs, lows, opens, closes, contraction, expansion, volume and open interest were used to build a library. The library was then tested on a purely statistical basis to find profitable market circumstances. The bar types and components were tested alone, as composites of each other or as a complex series of bars and components in relation to each other. If just one parameter yielded strong results I discounted it as a curve-fitted occurrence due to the optimization process. However, if a series of parameters yielded strong results then a thorough inspection of market circumstances was in order. Such circumstances were carefully studied to see if psychological and logical reasons could be found to confirm the pattern. Confirmation of the pattern is an important step in the strategic process. Without it we run the risk of blindly following a price tendency that could disappear at any time. By adopting the test processes and procedures all of...
When this happens, you can bolster your concentration by recommitting to your vision. Here it is useful to consider what else is possible, rather than function with what you accept as immutable truths, which box you in. Be willing to recommit to your goals and be willing to discuss what is necessary to make things happen. Don't blame others for your failures. When things aren't going well, don't give up or resign yourself to failure. Don't invalidate yourself or others. Instead, look to see what you are doing or omitting to do. Concentrate on what was missing in your trade and try to establish a procedure that will make it work better. Be willing to admit what has changed, what is missing, and what will be done to correct this. Take responsibility for what has happened in a fully committed way. Lapses in concentration or a reduction in momentum are part of the investing business, and you shouldn't dwell on them. They don't mean that there is something wrong with you. It simply means...
They take the seller closer to his or her desired goals as well. Remember, sellers want to sell. You should never forget the most basic of all motivations, no matter what the underlying cause, is the need or desire to sell. Having just said that, there is a pitfall in that motivation that many sellers never grasp. Sometimes the goal to sell the property is not the only, or even right path the seller can pursue. Equally, often the method of selling that the seller believes he must take is not the only way to achieve his main goal.
Nothing, except that it has been divided and spread around. You have 200,000 cash, and owe 180,000 on the farm that is worth 270,000. Your 90,000 equity in the farm and the 200,000 in cash means your original equity of 290,000 is still in place. However, because your goals were to sell the house and purchase a farm, you have moved toward that goal in a very positive way. The critical part of this example is that you must keep all of your options open and available to you if you expect to use financing to your best benefit. You will find that you can shift equity and ownership at the same time to get closer to your goals. Alternatively, you could have taken a different tack, such as a land lease with option to recapture. Using a combination you give up ownership, but keep the use of the property until you decide if you want ownership back again. All of this is shifting equity. One reason this concept is important is that many people look at it as a two-sided affair. You buy it, and you...
At this point in our journey, you should understand that this approach you are studying is not the consensus opinion of the majority of traders. You should understand that no individual or company is large enough, strong enough, or smart enough to control the markets. They are beyond even the muscle of the central and international reserve banks. You should also understand that to win consistently in the markets you must get to know them and how they process incoming information. Your best strategy is to relax you own personal goals and spend that energy in understanding and getting in tune with the markets. You should understand that we all trade our own personal belief systems. If you want to change your results in the markets, the most efficient approach is to change your beliefs about the markets and the world. You should understand that Chaos is really FREEDOM if you are in step with it rather than fighting against it. Finally, you should begin to realize that any sort of
Current circumstances affect how you invest, and they should. As explained in Chapter 7, it is not conservative to invest in the same manner in every situation. You need strategies for managing your portfolios in down markets as well as in up markets and options in their various configurations are powerful tools for protecting your long-term positions and for identifying and taking profit opportunities without compromising your goals.
Contradictory beliefs and nonfunctional awareness represent flawed mental software code code that destroys your ability to stay focused and accomplish your goals code that makes it seem as if you simultaneously have one foot on the accelerator and the other on the brake code that gives learning how to trade a mysterious quality that will be challenging in a fun way at first, but usually turns into pure, unadulterated exasperation.
Establish a realistic ratio between risk and reward, based on your strategy and risk appetite. Clearly state which is the highest risk and smallest reward your strategy allows after evaluating your usual win-loss ratio. Carefully check what the potential profit expectations are based on the time frame you will be using and the minimum stop loss required for optimal safety. The risk should be lower than the reward expected, although this will depend heavily on your particular system. For example, a scalping strategy with a 90 10 win-loss ratio will allow up to a 3 1 risk ratio and still be very profitable (winning trades being one-third of losers), whereas a system that yields fewer winners but a potential for much longer runs would need the ratio to be inverted (usually a 1 1.5 risk ratio is the smallest that should be allowed).
Sure, every one wants to succeed in something, but do you have the desire to want to succeed in forex trading First of all, this field is not for every one, for you must have the passion for it. If you just want to try your luck, or dabble, in trading, you will just end up among the majority who lose their money. You must have the deep desire to want to accomplish your goals, because without this desire, your thoughts will not materialise into action, and it is action that could transform your goals to reality. To be a successful trader, you must be highly self-motivated, have a concrete plan of action, and not be afraid of failure.
Ideally, your goal helps you determine the strategy you need to take to realize it. Then you keep doing what is necessary to build the strategy. When your trading flows effortlessly from your strategy, you have found the path of least resistance. You don't need to keep struggling to realize your goal. You trade in terms of what is necessary to fulfill your commitments. You keep looking to see what is missing and remain comfortably involved in the process without getting anxious or interpreting errors as reflecting on yourself. You keep reviewing your trades without emotion, and keep correcting them in line with your goals. You remain totally focused on the task before you and use failures as feedback to bring you back to your center.
Principles include the provision of meaningful information and education to all constituents in a timely manner. An interesting feature of CalPERS is the blending of its values and its business practices. In this context its business philosophy includes demonstrating accountability by taking responsibility for our actions and supporting open communication. Its strategic goals also prioritize this issue, and include fostering an environment that values openness and accountability.
It is easy to become overwhelmed by the sea of information that every day trader is inundated with. There are thousands of Web sites alone dedicated to educating and informing investors about topics ranging from hot news on stocks to tax tips. You will be at a disadvantage if you allow your valuable time to be spent focusing on information that is not directly relevant to your goals and objectives for the current trading day. When you can effectively locate, manage, and organize the information that is available, you will be in good shape to trade unencumbered.
Situations that call for blanket financing require the satisfaction of one or more of these five items. Because items 1 and 2 are rather general, it is important to remember that there are many different forms of financing that can accomplish these two desired goals. However, when the best form for the borrower is unacceptable to the lender, a blanket mortgage may be the answer.
I enjoy working with individuals to meet their personal goals and financial needs. PCS is a more flexible work environment where I have the potential to make a real difference in the lives of my clients. PCS is also a more profitable business. Institutional sales have higher volumes, but margins are always being pressured margins are fatter and there s more financial reward per share traded.
To avoid stress buildup, work with small position sizes until your successful trades become consistent and steady. When you start winning, even if small, you should reward yourself in some way for the success. Learn from your mistakes whenever they occur. Accept losses as part of the business experience. Some traders even have more losers than winners as a percentage, but they cut the losses as soon as possible and let the winners run, so their risk-reward ratio is high even if they win less than 50 percent of the time. Use positive affirmations, and visualize your goals. Feel like a winner, act like a winner, be a winner Do not waste any time or energy on negative emotions or doubts. Avoid the company of negative people, don't view negative movies, and avoid negative surroundings. Read positive books and quotes, think positive, and speak positive. Thoughts should inspire you to improve and get better in all areas of your life that you want to improve. Try to be specific about your...
Learn techniques and strategies which allow you to do this and you could still become wealthy even though you cannot know what the future holds. You can do it because you can make a lot when you are right and only lose a little when you are wrong. In the end profit will prevail over losses. Do this enough times and eventually you will have more than enough money to pursue your goals.
All automatic guidance systems reach their goals by constantly correcting mistakes. A guided missile on its way to its target has sensors that detect when it's off course. The guidance mechanism then makes the necessary adjustment and proceeds. This is done thousands of times on its journey. The guided missile relies on this negative feedback to guide it to its destination. Without this negative feedback, a guided missile would actually not know where it was going and would never reach its target. The same is true for the human servo-mechanism. It is unfortunate that so many of us interpret mistakes as a failure and suffer feelings of frustration and discouragement when actually the mistakes we make are exactly the information that our servo-mechanism needs to make the necessary corrections to take us to our goals. Your servo-mechanism has no opinion one way or the other about mistakes. It simply uses the information to guide it to its objective. What we call mistakes are actually...
At this point you probably doubt our sanity because of the astronomical 210 percent return. One of our goals was to show that it was possible to create some real wealth with a down payment that is affordable to most people. Again, the reason we were able to pull off such a feat is because we used leverage to buy the property (3 percent of your money, 97 percent of the bank's money). Note that if you had put 20 percent down, the percentage return would have been less still significant but less than the 210 percent return demonstrated above.
Increasing globalization and investor appetite for diversification offer a unique opportunity to companies looking to tap a new investor base, expand awareness or raise capital. Creating a depositary receipt program gives issuers flexibility and access necessary to achieve strategic goals, while providing investors with an easy and convenient way to invest in companies outside their home markets absent the concerns that normally accompany cross-border investments.
Multi-criteria decision-making affects all phases of the planning process. Initially, an extensive analysis is required to ascertain targets, their significance and likely conflicts. Where several targets exist, as assumed here, the decision-maker's preferences play a decisive role and must be investigated in detail. The MADM procedures discussed in this chapter support these processes of goal setting and decision-planning.
In any exchange, you will find that the motives and goals of the two parties may differ. In addition, as exchanges often have more than two parties in the deal, the motives of three or more owners can be very different indeed. You should look to your goals first as always, and attempt to make the kind of transaction that works best for you. Any give-and-take in the deal format should be counterbalanced by some other negotiated element of the deal.
For example, playfully throw a child up in the air and catch him and he will beg you to do it over and over again. This is his way of interacting with the environment to perpetuate the feelings of a positively charged experience. Positive energy is expansive, compelling us to interact with the environment to create more experience for ourselves. The more we experience the more we learn about the nature of the environment. The more we learn about the nature of the environment, the better able we are to interact with it more effectively to fulfill our needs and achieve our goals. Positively charged memories give us that sense of confidence that allows to step out to try something new resulting in mental growth.
This is the entire essence of tax shelter. Take the deduction now if it works for you. Get the interest-free loan from the IRS, and pay it back when you are ready. However, do this only if this is the right thing for your overall master plan. You don't have a master plan Then go back to the Chapter 1 that deals with setting your goals and work on it.
There is an automatic mechanism inside all of us. Dr. Maltz calls it the servo-mechanism , and it is an automatic goal-seeking machine, which steers its way to a target or goal. We all have this inside of us and can use it to achieve goals that we want to reach. This servo-mechanism works very much like a guided missile. But just like a guided missile, it needs proper programming to hit its target. That programming comes in the form of mental pictures that we give the servo-mechanism. If we continually give the servo-mechanism clear, vivid pictures of the goals we are trying to achieve, our subconscious will quite automatically do the necessary things to help us achieve our goals. On the other hand, if we continually think and picture the things we don't want to happen, our servo-mechanism will take those pictures as our goal, and attempt to make those bad pictures come true. You see the servo-mechanism works quite automatically. It simply takes the mental pictures we give it and...
We've previously discussed the servo-mechanism, the goal seeking mechanism that is inside of all us. We know the servo-mechanism works like an electronic computer to help us reach our goals. But the servo-mechanism can either be a success mechanism or a failure mechanism.
There are situations in which it is possible to reduce stress by structuring and changing behaviour. Organising your life helps to reduce frustration, wasted time and the potential for stress. Research by Lakein (1996) indicates that time management programmes are highly effective in reducing stress in both work and everyday living. There are three main elements of such a programme set goals, make daily to do lists, and schedule the day.
There's an old saying that death and taxes are the only guaranteed things in life, and that you can't get away from either one of them. While you may not be able to cheat death, you may be able to get away with paying less, maybe even much less, in taxes. Remember that I ask you in Chapter 1 to write down what your goals and fears are Did you list paying less in taxes as a goal Chances are, you didn't write down pay more in taxes, because let's face it, no one wants to pay taxes. People certainly don't enjoy it. But, unfortunately, taxes are an essential way for our government to raise money, and so, they need to be paid. There are ways, though, for you to minimize your tax burden and keep more of the returns that you work so hard to achieve.
After you have defined your goals and have set your trading in motion, you need to establish a structure of support to ensure that the strategy is implemented and that the lines of communication are open with others. Your plan of action must involve the commitment of the rest of your team. Create agreement around your goals by helping others to find value in your objectives and by encouraging them to participate. You must learn to empower others to assist you in accomplishing your strategies, which can help them to discover their own capabilities. By asking for their help, you assist others to get beyond their own thinking and their own limitations by doing something for someone else or for a larger cause.
Being clear and demanding performance from others may be difficult for you ifyou are too concerned about what they think ofyou. This could be the biggest factor in keeping you from achieving what you set out to do. Perhaps you are wary of appearing in an unsatisfactory light. That's why it is crucial, at the outset, to be as lucid as possible about your goals, so that others can support them.
The deeper the level of our understanding and insight, the more effectively we can interact with the environment to fulfill our needs and achieve our goals. Fulfilling our needs and achieving our goals create within us a feeling of well-being, confidence, and satisfaction To fulfill our needs and achieve our goals, there has to be some level of correspondence or balance between the inner mental environment and the outer physical environment. What I mean by correspondence is some level of understanding of how the outer environment works. Our needs, intents, goals, and desires all exist first in the mental environment. Then one of three things can happen in some future moment in the physical environment they are either 100 percent fulfilled, partially fulfilled, or not fulfilled at all, resulting in feelings of satisfaction or dissatisfaction equivalent to the degree of fulfillment. Obviously, none of us possesses this kind of perfect correspondence with the environment, and, as a...
Besides the cycles of dissatisfaction that our current set of limitations locks us into what we know blocks what we haven't learned yet), there is an even more practical reason for learning how to adapt. All of us are forced to interact with a constantly changing physical environment to fulfill our needs and achieve our goals. The way we interact with the environment, what choices we perceive in relationship to what is actually available from the environment's perspective, and what we do in relationship to what we perceive are all a function of what we have learned. Now, if you will recall,
No matter how good the market and the foreseeable prospects for growth are, stock investing is a personal matter that should serve your unique needs. For example, how old are you, and how many years away is your retirement All things being equal, a 35-year-old should have predominately growth stocks, while a 65-year-old requires a more proven, stable performance with large-cap market leaders. The information in Chapter 2 can help you identify appropriate investment goals.
Ideally, by scrutinizing the data needed to follow your trading strategy, not the emotion-laden issues of winning or losing, you can focus on the trading issues themselves without becoming too anxious or overwhelmed. This is particularly true during a trading day, when you should be able to concentrate only on doing what is necessary for your strategy rather than thinking overly much about your goals or the consequences of trading.
The subjects of this book so far have been the calculation of portfolio level returns, the risk taken to achieve these returns and the analysis of risk-adjusted return. With this information we have some quantitative input for analysis of historical fund performance. We can answer questions as to whether the fund did well compared to our goals for the fund, the fund's benchmark, and other funds managed according to a similar strategy. There are, however, some additional questions we can consider related to not just what performance was achieved, but how it was achieved.
If you remember that financing is a shift of equity from one party to another, you can see that a lease can do that much in the same way as does a mortgage. There are, however, some very important differences between selling a property and leasing it. The important part of this is to take into consideration what is the best way for you to attain your goals. If you are a seller, you might find that you will attract more buyers if you package your property into two separate elements. You can, for example, sell the improvements subject to a land lease. Later in this chapter, I illustrate some of the benefits to both parties in such an example. By comparison, of the benefits that come from selling or leasing you will be able to establish a method of the disposition that maximizes your benefits of the deal. As a buyer, you should know what advantages and benefits you can gain by leasing or by only buying. There can be substantial benefits depending on which method you use. Review the...
Of course, the most important aspect of leasehold financing. The security offered by this equity, along with other risk reducers such as personal signature and guarantee on the note and pledge of other collateral or security, makes the leasehold mortgage a most interesting form of financing. Your ability to use this kind of financing in a future deal will depend on your clear focus on your goals. Everything you do in investing should be directed toward this end. Your ultimate success, as I continue to reiterate, will be enhanced by your pursuit of your goals.
Everyone who is trading, but not for a living has probably asked themselves this question. When they ask us, we ask, What is a living For one person, it is 50,000 a year, for another it is 500,000 a year. We don't know how much money you have or how much you want to make. A good trader can make 100 on his money, but another trader might make 30 a year. Some traders may have a losing year. The real crux of the matter amounts to what is a living for you, and whether you are able to follow a system to make your goals happen. The answer ultimately depends on your self-discipline to follow a system.
In the mental environment the memories of our experiences don't change over time, but the physical environment where our goals are fulfilled does. It is constantly moving forward, offering us new conditions, which, in turn, offer us different possibilities and opportunities, if we are open to being able to perceive them. What better form of goal achievement than to be able to change our mental perspective at will to be able to perceive these new conditions and use our imaginations creatively to determine the most appropriate set of steps to fulfill our needs or achieve our goals, even if we have never actually taken those steps before
Remember, no matter which form of financing you use, your goals are the first factor to consider. If all parties are suited for a joint venture, then this tool can be used satisfactorily. However, the joint venture transaction will keep the seller in (if the seller is a joint venture partner, of course) and this fact may not provide the desired results and remember, any form of financing which will give reasonable results should be attempted.
As you develop your knowledge of your comfort zone area, you will begin to recognize opportunities for investment. As you add to that knowledge, the techniques of investing and financing found in this book and in other sources such as seminars, books, tapes, college courses, or night adult courses, you will begin to demonstrate that you are confident in your abilities in real estate investing. Each time you find some area in which you are weak, act to improve in that area and remove that weakness. All of this can and will happen if you want it to, and if you understand that it is not an overnight process and there is no single source, no magic key that can unlock your future without your direct and continual growth and action. Success in anything is enhanced when you are proactive in seeking the path to your goals.
Brett Steenbarger The idea of solution-focused therapy is that you examine what you're doing when you are moving toward your goals. When you are achieving your goals, what are you doing What is working for you You want to identify that so you can do more of it so you can keep doing what works for you. And I think that principle applies to trading that you can learn quite a bit from your most successful trades. In the audit that I referred to a while ago by monitoring times of day when I placed those trades, the average holding period of those trades, the average size of the positions it really gave me a sense of what kind of trading was working for me and what kind wasn't. A big transition for me, personally, and I think for other traders, came when I stopped beating myself up for unprofitable trades and took more of an attitude that losses are a cost of doing business. I focused on the right trading behaviors and doing more of what works.
If you can answer these questions to your satisfaction (or if you already have some form of DI), then you don't need to worry about thinking about this. However, if you don't like your answers, or if you are unable to answer the second question, it's time to think about some type of disability insurance. Remaining unprotected is one of the surest ways to not reach your goals, and perhaps devastate you and your family financially.
Awareness - that we must utilise each moment of our lives to the fullest. Mortality awareness is not a negative belief such as when you die, that's it - you're dead . Mortality awareness empowers one to take any necessary risk at any costs to achieve the mission and fulfil one's destiny. The second is of life purpose - to recognise that trading is an important part of fulfilling one's true life purpose. The third is soul passion - where the practitioner experiences feelings of joy, exhilaration, fulfilment, satisfaction, and inner completeness. It represents love for an activity and it is inseparable from life purpose. The final is that of higher goals and objectives - the practitioner cultivates an inner drive to be the best that he or she can be. It transcends goal setting.
As Chapter 3 hinted, one tool to stay disciplined with the Three Questions and keep your scurrilous brain in check and not be humiliated by TGH is having a comprehensive strategy driving decisions. Just using the Three Questions is great But a strategy provides a basis and framework from which you can ask the Three Questions and make small (or big) bets keeping you on path toward your goals.
That's why disability and long-term care insurance are so important. They protect you from the what if scenarios. Plus, they protect the assets you have already accumulated so that you don't have to use them in an emergency. And really, that's what insurance is all about protection. When you listed your goals at the beginning of the book, did you list have enough money Ask yourself, if you became disabled or were in need of some sort of long-term care, would you have enough money
Your inner environment consciously to be consistent with your goals. So, to keep yourself from having any expectation about how well you should do at this or any other exercise I offer you, I suggest you consider yourself an infant in a brand new environment. You will have to learn how to stand up before you can begin to walk or run.
I hope it worked I don't know how to pick stocks that only rise. Many claim to. No one does. I've never seen anyone do it. Your goals in stock selection are two things and only these two. First, find stocks that are good representations of the categories you're trying to capture, and second, stocks you think will most likely do better than those categories. Note I didn't say, Find stocks that will go up the most. I said, Most likely do better than the category. Your goal is to get the attributes of the category plus a little, with most likely as your goal.
When we are uncertain about our goals, our minds become a battlefield of conflicting desires. In this mental environment, the result will be total paralysis that will make it impossible to achieve investment success. Therefore, it is necessary to develop specific objectives for our trading and investment activities. If correctly done, setting up investment objectives helps to transfer our energies from the external forces where we often allocate blame to the real source of our problems, namely ourselves. For example, if an individual has a large position in the stock market and some random event such as the 1991 summer coup in the Soviel Union comes along to push prices down significantly, it is natural to blame the market. In such circumstances, we can rationalize the Situation because we have no apparent Control over it. The real issue, though, is ourselves, and until we can learn to come to grips with that problem, it will keep resurfacing. setting goals. Equally as significant is...
So far we limited our discussion to safe investments that yield a sure 6 . This number, coupled with the inflation assumption (3 ), determined the results of various savings rules under the appropriate tax configuration. You must recognize, however, that the 6 return and 3 inflation are not hard numbers and consider the implications of other possible scenarios over the life of the savings plan. The spreadsheets we developed make scenario analysis quite easy. Once you set up a spreadsheet with a contemplated savings plan, you simply vary the inputs for ROR (the nominal rate of return) and inflation and record the implications for each scenario. The probabilities of possible deviations from the expected numbers and your risk tolerance will dictate which savings plan provides you with sufficient security of obtaining your goals. This sensitivity analysis will be even more important when you consider risky investments.
Since one of our goals is to identify trends as early as possible, we should use indicators that can accomplish this. Moving averages are one of the most popular indicators that traders use to help them identify a trend. Specifically, they will use 2 moving averages (one slow and one fast) and wait until the fast one crosses over or under the slow one. This is the basis for what's known as a moving average crossover system.
You must think of everything in terms of benefits. The connection of the success to your investing in real estate to your goals is a tight circle. If you overlook proper orientation to your goals, then you kiss a real success goodbye. If you know what you want and strive to get it, you succeed. However, knowing what you want is not a dollar goal, but a benefit - oriented goal.
Don't forget that your choices and your abilities can improve the results with all these models. If you choose to reinvest cash flow to acquire more real estate or pay down debt, you may achieve your goals faster. If you consistently achieve higher rent rates, lower your expenses, or reduce your vacancies, you'll be accelerated along the path to your net income goal. With that in mind, let's look at the first way to receive a million in real estate.
Empowered Success Bible
Get All The Support And Guidance You Need To Be A Success At Everything In Your Life with Empowered Success Bible. Success, just like any other thing is definitely not an accident. It happens for a reason and on purpose, whether people strive for it or not. Success is a wonderful world and concept. People have always been striving for it all through their lives. And many people have long been pursuing success; others start their journey towards it and often find it immediately. Success to some means domination and capture of another.