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Conversations about Health, Wealth, Wisdom and Nobility.

Let’s Talk About Wealth!

Many Forms, Many Meanings!
Wealth is a growing thing

As with human health, human wealth also has many forms and many meanings. We’ll cover the one we generally associate with wealth – ‘financial wealth’, and talk about the other forms of wealth more on our page covering Wisdom, because it is there that we can properly consider more esoteric ideals like love, morality, spirituality, right and wrong, conscience, human rights, cultural norms and traditions and how all these things interact with and are impacted and changed by financial wealth, either the abundance or lack of it.

For now let’s limit our scope to wealth in terms of your personal equity in  property, stock & business and focus on the best way to accumulate it, without regard to questions of health, wisdom or nobility. If you have something to add please don’t hesitate to contribute constructively on our blog.

How do individuals get wealthy? Five main ways: inheritance, salary/wages – working for someone else, luck – gambling, theft and personal investment including owning your own business offering distinguishable goods and/or services (the closer to unique the better). While we are not considering morality on this page, we will only be discussing the last item on the list here,  just solid and by the numbers personal investment, using relevant knowledge from proper research and proven method, the only legitimate way to become wealthy and stay wealthy. There’s no way to accomplish it overnight. It has to become a way of life, a new way of thinking, planned and practiced with skill and patience for the rest of your life. Success in this also requires resilience – a willingness to get it wrong, adjust your plan and remain loyal to your goal. It also depends on constant self-education, constant business environment research, and a good sense of timing.

What is financial wealth? While the whole point of getting it, is being able to spend it, no one ever got wealthy by going on a spending spree for non-investment items – consumables like furnishings, clothing, motor vehicles, luxury yachts, expensive holidays, jewelry, electronic entertainment devices and the like. The reason the wealthy tend to get wealthier is because they channel the returns they make back into additional investment, compounding their wealth. In terms of spending for investment, if what goes out adds to what comes in, then consider it an investment. If what goes out is consumed or diminished in value over time, then it is not an investment in your long term wealth.

The trimmings like the home someone lives in, the car they drive, the boat they spend leisure time on and the holidays they take, may or may not result from wealth, but are never the source of it so cannot represent it. We need to understand that. Wealth comes from investing, not consumer spending, and is built over time (not over night) using things that increase in value.

In Australia, our government education curriculum has not valued tuition for our children in money management, despite the importance of this skill. The need to understand and action a saving plan for long term prosperity, a basic knowledge of business and economics for investment strategy planning and a full comprehension of the magic associated with compounding interest on investment, would serve to provide a better outcome to most families here. Instead we have a few super rich, a few well off, a majority of the population working hard for someone else and just scraping by for extended periods, always feeling like something is missing because it actually is, and at the other end of the scale, a population that is in real financial need and accepting government support just to get by. Sadly, the latter often resign themselves to their lot and become despondent or angry with the way things are. Some may resort to gambling or theft, feeling this is the only way out. Subsequent generations may begin life with similar inherited attitudes adding to a growing social issue. Many countries face similar scenarios.

Don’t listen to voices that tell you that your time is so short that you’d better take some shortcuts to riches, offering you deals that sound too good to be true. Need can turn your hopes into desire so that you become blind to the truth even when it is not hidden. Don’t listen, because you become a victim to those who are stealing their way to wealth, gladly taking your cash whilst never really being willing or able to honor their promises. There are so many of them around – I’m sure you’ve come across them, and once they get your contact details, it can be a struggle to shake them off your tree.

A better plan, if you really are getting on in years and cannot hope to retire wealthy due to the time you have left, is to do your bit to turn the tide. Educate yourself and then your children and grandchildren on the proper way to wealth, starting from a young age with good financial habits that can make investment portfolios snowball given enough time and patience.

 

Money - Master the Game
  • Perhaps the world’s most respected motivational speaker and coach.
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  • This book is one of my favourite money books, and I recommend it to you, whole-heartedly.
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  • The younger you are the better for implementing true wealth – that is a given, but at the same time, you are NEVER too old to implement good financial habits into your daily life, and to do your best to ensure that your children do the same. Remember that your children learn from what you DO, not from what you say.
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  • Tony has researched to the nth degree for this beautiful book, collaborating with all the great names you would expect to find in a genuine study on mastering personal finances.
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  • There’s a wealth of additional resources in this book as well. I won’t ruin the surprise :).
  • Start becoming wealthy, the right way
  • The world’s most trusted motivator
  • YOU are never too old to learn
  • Pass it on to your children

The Warren Buffett Way

As one of the richest in the world, and someone who has created wealth more successfully than most, this book demonstrates his investment philosophy and mindset in direct and practical ways that you and I can easily comprehend and adopt. True wealth takes time. There’s nothing here for someone looking to double their money over night. With the consistent long-term results Warren has achieved, generating billions, no better example to follow. I have this book and thoroughly recommend it to serious investors.

AUDIBLE - 6 wealth titles in 1 from Paul Clitheroe

Paul Clitheroe – 6 Wealth Titles in 1 (AUDIBLE format)

I downloaded this as an AUDIBLE file. With Amazon you get a month free, so this title was free, along with another of my choice. Not too shabby, and not sure how long the offer stands for, so I’d motivate 🙂 !

If you are an Aussie, you probably know Paul Clitheroe. He is one of Australia’s best-known financial advisors. He is known for his straight-forward, easy-to-follow personal wealth management advice as host on the Nine Network’s show ‘Money’ aired between 1993 and 2002. He is also known for his books offering the same practical advice. Written for the Australian, but relevant to everyone, no matter what country you live in. This offer has SIX books in ONE covering nearly every aspect of personal money management and investment. They are treasures you should have access to.

Grab it: Savings & Investment, How to Be Debt-Free, Investing in Property, Investing In Shares, Managed Funds, and 10 Key Steps to Wealth.

Using the Internet to Create Wealth

Wow, so here’s a big topic and a time relevant one with the covid-19 virus forcing so many businesses to step up and acquire a presence on the Internet for sales and service, and manage employees working from home. We have a choice of popular platforms. Obviously you can setup your own website and take full responsibility for sales and marketing from there, but most businesses will also opt for cloud services for both data storage and app processing, and most businesses find they cannot ignore establishing a presence on Amazon and / or eBay. Clickbank is something we cover below as well but you will find mostly digital and informational product there.

When would I choose Amazon over eBay?
It comes down to volume and scalability really. If I was doing really well on eBay and needed to scale up and free myself of the shipping responsibility so that I could concentrate on research and marketing, I’d move my transactions to Amazon. Amazon’s automated shipping service (FBA or ‘Fulfillment by Amazon’), along with their market reach (number of customers) makes them the platform of choice for a serious business and you will notice most businesses are using it. Amazon is the largest online marketplace without question and by far.

Relieved of your packaged shipping responsibilities, you can turn your attention to marketing and continue to enjoy large scale sales night and day without having to pack or ship anything yourself, which is really cool because it gives you time. A smaller concern like your startup venture might consider eBay as an easier platform to start up on and test the waters in. Many people are still making comfortable livings on eBay and are happy to stay there. Some are drop-shipping their branded goods directly from their manufacturing sources overseas but experienced buyers avoid many foreign-sourced goods because shipping can take weeks and typically, customers do not want to wait that long. They get cranky if they are not expecting the delay associated with international shipping. A cranky customer is not good for business and too many of them can get you kicked off eBay and Amazon as part of their customer care and quality control effort. You might consider importing your goods manufactured overseas to your place of business, and then ship them to customers of the country you live in. If you choose to drop-ship, make sure your customer’s know up front that shipping can take a while. You’ll lose some of them but you’ll have less cranky ones 🙂 .

Clickbank’s Affiliate Program

I’m a Clickbank Affiliate and I love the program. It’s my bread and butter. Much of the stuff promoted on this site is from Clickbank as you will have noticed. It’s one of the easiest and most satisfying ways to make money. It works. It pays awesome returns for your efforts. You can promote with or without your own website. I totally recommend getting some help from Clickbank’s University as well. It will stimulate your ideas, get you in the right frame of mind and offer you the peace of mind that comes from knowing that you are following the best advice from experts who have vetted and proven them time and again. They will help you to map out your path, to minimise your loss of money and time towards your first and continuing success.

As an affiliate you will choose seller programs and promotional campaigns in line with the allowed terms and conditions of the program that you are comfortable with. You will research or use them yourself so you have something intelligent and genuine to say about them, say a few words about it on your website or via social media (only if this form of advertising is allowed by the seller’s terms and conditions), ADD your unique Affiliate Link, and away you go! Easy peasy!

The simplest way to start  is to become an affiliate, however, you could become a seller if you have a unique informational product to offer and need help marketing it. If this is the case then becoming a Clickbank Seller can open all sorts of financial rewards for you! Clickbank University will cover everything you need for success with this option as well.

If you wish to become a Clickbank Affiliate or Seller, then point 1 below is necessary, while point 2 is optional but strongly recommended:

1. Open a Clickbank Affiliate Account

The process is easy to follow and you’ll soon have your own ID to either promote the heck out of other people’s merchandise, or think about selling your own.

2. Join Clickbank University

You don’t have to do this. I joined Clickbank years ago before it’s University existed and learned everything I know the hard way. If I’d had a choice back then to learn directly from the pros, from Clickbank’s own mentoring team, I would have chosen it.

Become an Amazon Seller

Amazon has an affiliate program also. Possibly the biggest in the world. I’m an Amazon affiliate. Signing up is easy. In Australia you can register as an affiliate here. The commissions are fair but you’ll need to sell a lot more of other people’s merchandise or some bigger ticket items to make the kind of returns Clickbank offers per affiliate sale. Note that Clickbank products tend to be more educational and electronic whereas with Amazon, you can literally sell anything that can be physically shipped. Most of the books on this page are linked to Amazon Australia via my Amazon affiliate ID.

Where the real money is with Amazon though, is in being an Amazon Seller. Having your own product, your own brand and a good understanding of marketing and SEO can see you making incredible money, the kind that dreams are made of. You probably need some help with this though. In Australia, there are two third-party Amazon FBA coaching programs worthy of  mention, that rival each other for adventurers like you, seeking to take on their own online marketing brands. They are Adam Hudson’s Reliable Education and Neil Asher’s Aussie Online Entrepreneurs. There’s a mother in Sydney named Stacy who has tried both of them and has an interesting and unbiased report that you might want to read. I agree with her assessment, though I have only experienced Neil Asher’s AOE program personally.

I’ve seen the free series of videos from Adam Hudson but I could never bring myself to spend the kind of money needed to join his Reliable Education mentoring club. Neil’s program is a lot more affordable and very thorough. You can join on a monthly basis and quit whenever you like. I quit after completing the training program and accessing all the resources to set myself up. Of course, it is only worth it if you get serious about it and take action, as with anything in life. You’ll get a lot of valuable information on becoming an Amazon Seller at Amazon Central’s Seller University but they won’t help you with product research, supply chain – resourcing suppliers and manufacturers overseas, import pitfalls, insurance and all the twists and turns that go with learning what product is selling at the moment and how to make a branded version of your own and sell it successfully on Amazon. Perhaps you have your own unique best seller already? Otherwise, it is best to have someone holding your hand who is an expert and can genuinely assist you. For me the choice is Neil Asher and his Aussie Online Entrepreneurs program. Neil is an Aussie but be prepared for his British accent and British humour which can be quite rash at times. If you don’t bruise easily, you may find it refreshing because it is always real. You will notice Neil’s program is promoted on Clickbank 🙂 .

eBay as a Seller Platform

If you are looking for some quick cash for any reason, you could have a garage sale of a weekend, place an add to sell something you no longer need in the local newspaper, post an adhoc advertisement to eBay (I’ve got some up there right now for DVD movies I’ve had for years and don’t watch any more – tastes change 🙂 ), post an ad on your local Facebook Marketplace or place an ad in Australia’s Gumtree which is owned by eBay, but was and remains a free platform for neighborhood sales, provided you stick to standard options. Facebook has made really good headway into this space in a very short amount of time, and is also free. You wouldn’t use a paid service to sell garage-sale type stuff, unless there was a significant advantage, or you had no other choice. But you do have choices. For adhoc sales, you are well and truly covered for local sales by Facebook Marketplace and Gumtree here in Australia. That’s great, and free, and you might even use these seller platforms for regular sales if you were an established business, however, if you are going to sell in significant and regular volumes, eBay, whilst charging for your sale transaction along with PayPal fees, nevertheless has some distinct advantages in structure, market reach, accountability, label printing for tracked shipping and buyer and seller protection  so you get better structure for more control over larger volumes to maintain quality delivery to customers. Even Coles, one of Australia’s largest grocery retailers, is on eBay.

If you’d like to become an ebay affiliate selling other people’s products, sign up here.

If you’d like to become a seller, ebay has all the learning material you could possibly wish for, right here.

Become an eBay Seller
Become an eBay Affiliate
241 pages of brilliant Cherie Barber cosmetic property renovation tips

Here’s a Aussie girl that everyone loves. She is a popular real estate and lifestyle TV Celebrity in Australia on shows like the Five Day Flip (2016), Hughesy, We Have a Problem (2018) and of course The Living Room (2012-2019). A self-made millionaire through skillful property renovation, she has personally renovated over 100 properties and has over 10,000 students for her courses which include Cosmetic Renovation and AirBnB for Profit. Absolutely recommended in her area of expertise. Have a listen to her free webinar for a taste of what she can help you with. Here she is on one of her many TV engagements.

241 pages of brilliant Cherie Barber cosmetic property renovation tips
The Reno Queen

Michael Yardney – A Credible Proven Property Investment Guru

Michael Yardney is another credible Aussie with a proven track record in just about all areas of property investment. He has authored several books and is author or a wonderful regular newsletter delivering nuggets of information that could make you very rich. This book is a property investment classic and a #1 Best Seller. It is a ‘Plain English’ guide from an insider with decades of experience. It offers a step-by-step action to produce real wealth, explains how to buy property with no money out of your own pocket and other advanced strategies that are now within reach of studious beginners. I recommend it to you with no reservation. Here is Michael in one of his weekly ‘Property Insiders’ presentations.

Grow a Property Portfolio in your Spare Time
Michael Yardney - A Multi-million portfolio in your spare time

George Markoski’s Positive Property Solution

A distinct advantage of ‘property’ as an investment, is that it can provide you both cash flow and growth. The author became a millionaire at a young age using property, and retired at age 37 with a passive income of $180,000 a year, using a few shortcuts that help you make your money work for you rather than you working for your money. While this book does not have all the answers, it can help you in many ways on your journey to financial freedom and will appeal to those who are a little impatient and want a way to start with as little as $30 a week put aside to work for you. Here’s George being interviewed on the Today show.

The George Markoski Positive Property Solution...
George Markoski's Positive Property Solution

A Few Of My Favourite Titles On Wealth

You’ll be the same 5 years from now except for the PEOPLE you meet and the BOOKS you read.” ~ Charlie Jones

Practical & empowering. Defeat disbelief & negativity, create a plan for success using your own creativity and understand the power of NOW!

Robert had a unique childhood with 2 dad’s, one endlessly poor, the other seemingly effortlessly rich. This has given him a unique insight into the difference between working for money, and getting your money to work for you. A must read.

As above, but written in a language your teenagers will feel at home with. Essential for your children.

A Best Seller with over 100 million copies sold. Perhaps the most popular personal-development and self-improvement book of all time.

 

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We know that one way to become wealthy is to own your own business, make your own mark in the world, and that producing something that is unique and difficult for others to replicate, with your very own logo and branding, is your best chance of success. The Covid-19 pandemic of 2020 has forced business to change their business models and governance mechanisms to allow employees to work from home. No better time to start working from home yourself, but FOR YOURSELF!

Just keep in mind that owning your own business means you take on environment research (the niche you will operate in), product research (concept, design, supply chain), production (process and quality control), marketing (knowing your buyers, branding and messaging), sales & contact management, accounting and legal. It’s not just about having a great, unique idea even though this is the most important thing. Remember that having passion for it from the get-go, adds to your resilience, persistence, confidence and enthusiasm, and therefore your success. You will be adjusting your plan frequently as your research continues in response to new things you learn about your business and the environment you operate in, whilst sticking firmly to your goal. You must have both a goal and a plan. A goal without a plan is just a dream. Your plan should produce S.M.A.R.T deliverables, i.e. Specific, Measurable, Achievable (realistic), Relevant (aligned to your goal) and finally, have a sensible Timeframe for completion.

If you have ever had a passion for the magic of woodworking, then have I got a treat for you! The wonderful mentors, Jim Morgan & Ted McGrath, who have put this business package together, come from genuine experience in the field and have thought of, well, everything!!!

It’s Time To Consider Being a Business Owner!

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- Nexus Wealth

Your Own Business In A Box!

Recommended Resource pack to go with the above offer

Your ONE-STOP Resource package to go with the above offer. Ted has added so much value to Jim’s offer above, with over 16,000 Woodworking Projects including Decks, Sheds, Greenhouses, Chairs & Tables, File Cabinets and so much more! This is Ted McGrath’s priceless addition to the 500+ wood crafts & furniture plans that come with Jim Morgan’s business-in-a-box. Get instant access to 16,000+ vetted-for-sale-ability woodworking plans.

Learn More

Setting up the Ultimate Small Woodworking Workshop

You can start this woodworking business with a very simple set of tools outlined in Jim’s business-in-a-box, and in your own garage or shed as explained. As your business grows though, you are probably going to want to invest in something more professional. This guide will walk you through, showing you everything you’ll need or that is recommended for quality and efficiency, including where to purchase products you’ll need, at bargain prices, or how to build them yourself (like benches and shelving, tool drawers & cabinets, and other specialized storage). You can either purchase this now at the ridiculous price it is, or wait until you get your business off the ground. Either way, it is wise to get it once you’ve started making good money and before you expand your business workshop.

Learn More

The Barefoot Investor: The Only Money Guide You’ll Ever Need by Scott Pape

 

Aussie aussie aussie, oi, oi, oi 🙂 . Another awesome delivery for the Australian. Lucky you 🙂 . I have the audio version of this book but I haven’t gotten around to listening to it yet, but I promise I will, and when I do I’ll update the following description with my own opinions, but until then, there is a ton of interest in this book – everyone who reads or listens to it, loves it, and the following is the general consensus that is certainly compelling.

Completely updated for the 2019-2020 financial year, the majority of readers claim this book is the only guide to money you will ever need, and that’s a very big claim. It contains the kind of stepped instruction that leaves very little to the imagination, like “open this account, then do this; call this person, and say this; invest money here, and not there. All with a glass of wine in your hand.[…] Sound too good to be true? It’s not.”

Chock full of real stories from real Australians from all demographics – single, families, young and old, who have followed the instruction and changed their lot. I guess the message is – you can too! This is a very small investment for an amazing possible outcome, so you have nothing much to lose. Call it!

 

Wealth April 21, 2019