A few fun exercises regarding dealing with money in the home and in the brain.
http://www.personal-development-coach.net/money-flow.html
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Mamby Pamby has written 52 entries about this goal
4.What will you do with the money you don’t need for lifestyle expenses? Will you create a foundation, give money to relatives, help friends? Will you just give it away or will you create conditions for the recipients?
1)Parents: I’ll build a great home for mom, and maybe dad, to live in if they want. If they want to stay at little sisters I’ll give money to LSOP and pay for mom’s medical and dental expenses and stuff like that. I’ll make them as comfortable as possible.
2)Give up to $100,000 to dawn to help them fix up their house and their neighborhood and care for their colony.
3)Pay nika’s college and loans.
4)buy the houses around me and rent them out to cool people. Maybe ART people – and we can have art-house row!
Money flows easily and very often into my experience.
I am getting money in increasingly larger sums from different sources.
Every day I am receiving money making opportunities.
It is very easy for me to make money.
After finding out that you won, who would be the first person you would call and why? I’d call Jerry because I trust him more than CHaz. Jerry would be happy for me. He wouldn’t try to get me to put it into a piece of land or something.
2. You will need a financial advisor to help you make some decisions. Who will you call? I’d ask Conna and Dave!
If you’re planning on rapidly building wealth, it’s a good idea to start interviewing financial advisers now in order to find one you trust.
I have interviewed many financial advisors to find out how they work, with whom they work, and what kind of fees they charge. One of the advisors I spoke with had a client who had won the lottery. She said that sorting everything out was, in her words, a nightmare because of the number of decisions that had to be made quickly.
3. How much money do you really need for lifestyle expenses? In order to answer this question, you need to examine your values and determine how you want to live your life.
The money that I really need is…Maybe a little more than what I’m making now – About 3,000/month, or 36,000/year. I’d probably invest most of it (after paying off the house and buying a mini-van)in order to get about $20,000 year back. then I’d work part time and sell art!
Let’s Play with $10Million
Here’s a game for you to play:
Imagine that you have won a $10 million lottery, something you’ve probably thought about more than once.
Once you get over the excitement of winning, you’ll have to make some practical decisions. You’ll also have to deal with a whole lot of emotional issues. If you haven’t thought about both of these, then you aren’t serious about achieving a high level of wealth.
By examining the issues that I’m going to propose here, you’ll be able to discover some of your blocks to creating wealth.
The Practical Decisions
On a practical level, ask these questions:
1. After finding out that you won, who would be the first person you would call and why?
2. You will need a financial advisor to help you make some decisions. Who will you call? If you’re planning on rapidly building wealth, it’s a good idea to start interviewing financial advisers now in order to find one you trust.
I have interviewed many financial advisors to find out how they work, with whom they work, and what kind of fees they charge. One of the advisors I spoke with had a client who had won the lottery. She said that sorting everything out was, in her words, a nightmare because of the number of decisions that had to be made quickly.
3. How much money do you really need for lifestyle expenses? In order to answer this question, you need to examine your values and determine how you want to live your life.
For example, if you have been dreaming about a big house with lots of fancy furnishings and you are seriously interested in living sustainably, those two goals might not match. Also, you might not want to take on the responsibilities of caring for a huge property.
Examine your wants and imagine them as having happened to see if they are really congruent with your values.
4.What will you do with the money you don’t need for lifestyle expenses? Will you create a foundation, give money to relatives, help friends? Will you just give it away or will you create conditions for the recipients?
5. This post offers advice to Mega Millions lottery winners that outlines practical steps lottery winners need to take. (I had no idea there was this kind of site available for lottery discussions.)
The Inner Work You Need to Do
I guarantee that if you win the lottery or achieve sudden wealth, your emotional life will be turned upside down. It’s often the emotional jolt that causes so many lottery winners to burn through their winnings and find themselves right back where they started.
I’ve worked with a number of clients who either inherited $500,000 or more or whose business grew very rapidly, and they all needed help deciding how to create rational spending and investing plans. I helped them both deal with the emotions and find the right team of advisors.
Any kind of rapid income acceleration can cause disorientation and confusion because often the newfound financial position goes against your established financial identity. The question becomes, “Who am I as a wealthy person?”
Here’s another group of questions to ask yourself:
•How will I deal with requests for money from family, friends, and strangers?
•Are my relationships with family and friends strong enough for me to trust the sincerity of their reactions?
•Am I afraid that my newfound wealth will alienate me from my peer group?
•Will I be afraid of making poor financial decisions and losing what I have gained?
•Will I authentically feel like a wealthy person or will the money just cover up ingrained less-than feelings?
•What can I do to allow myself to feel wealthy before the money comes?
•What scares me about rapid wealth creation?
Here’s the bottom line: Are you ready emotionally and practically to handle wealth?
First, if I won this, I THINK I would divide it in half and pay off half of my house and see what $35,000 could do for my Mom and dad.
Huh, I wonder. OK. I’d put $40,000 down on my house, leaving me owing about $20,000. I’d pay off the rest in about 8 years. Totally doable and lovely. What could mom and dad DO with $35,000? They couldn’t stay in a nice place for long…If I flat out GAVE it to them, any home they moved to would take it away. I guess I’d just let mom play with it!!!
I am having moments of anger, stress and disgust, but ALSO great moments of gratitude, appreciation and ease. It’s a VERY fast stream and I’m putting an oar in here and there in some wacky place at some wacky time and it’s causing me to careen into some branches! No snags, however, no lull in a dead zone. Still moving and trying to remember to lean into the turns! It’s more fun that way.
I made $57 friday
$83 saturday
$28 on Sunday
pluse I figured I made $4 an hour for 23 hours.
So that’s $168 plus $92 in wages = $260 for 23 hours worth of work.
Not too good, but not the worst, right?
It WAS, however, the worst job I’ve ever been at. Crappy place, crappy cooks, crappy servers (“woody’s my WORK husband…tee hee tee heee!” fucking gross!)HORRible patrons, unreliable food.
yuk.
I just started entering sweepstakes. WTF…why NOT, right?
I have plenty of time at work to enter online. It’s free…and there’s all KINDS of stuff to win. Today I entered for a harley sportser, a set of his and hers harleys, a $100 gift card from amazon, $5,000 a week from publishers clearing house, $75,000 OR $15,000 from some DIY site…Hell. If it’s a little or if its MILLIONS, I will be grateful and excited.
So I started my first day of endoctrination at River City Casino and, while I am NOT looking forward to working my whole entire life away (which is ONE way to look at it), I AM looking forward to saving up money for home decor, retirement, and hopefully, INVESTMENT. And, who knows, maybe this extra income is one step closer to millions. I mean, not in that, “I am $100 closer to being a millionare” kind-of-way, but more like “I have the energy, cushion, and mindset to look around and see my possibilities to earn a million $” kind-of-way!
Mamby Pamby has gotten 1 cheer on this goal.
Lion Heart cheered this 20 months ago
