Jim Rohn - Financial Independence - (Jim Rohn Personal Development) - Audio

In this a live seminar, Jim Rohn provides an overview of Economics 101, shares stories about super-motivator Robert Schuler, leads you in identifying your philosophy about money, helps you uncover the mystery of the philosophy of being rich and poor, leads you in understanding what to do with a dollar, and explains why keeping strict financial accounts is important. The man many consider to be America's foremost business philosopher has been sharing his success principles and strategies for more than 39 years, with more than 6,000 audiences and over four million people worldwide! He is the author of over 25 books, audio, and video programs. Jim has been hailed over the years as one of the most influential thinkers of our time.

Jim Rohn : Emanuel James Jim Rohn (September 17, 1930 – December 5, 2009) was an American entrepreneur, author and motivational speaker. Jim Rohn's rags to riches story played a large part in Jim Rohn's work, which influenced others in the personal development industry.

Emanuel James Jim Rohn was born in Yakima, Washington, to Emanuel and Clara Rohn. Jim Rohn's owned and worked a farm in Caldwell, Idaho, where Jim Rohn grew up as an only child.

Jim Rohn started Jim Rohn's professional life by working as a stock clerk for department store Sears. Around this time, a friend invited Jim Rohn's to a lecture given by entrepreneur John Earl Shoaff. In 1955, Jim Rohn joined Shoaff's direct selling business AbundaVita as a distributor.

In 1957, Jim Rohn resigned Jim Rohn's distributorship with AbundaVita and joined Nutri-Bio, another direct selling company. It was at this point that the company's founders, including Shoaff, started to mentor Jim Rohn. After this mentorship, Jim Rohn built one of the largest organizations in the company. In 1960 when Nutri-Bio expanded into Canada, Shoaff and the other founders selected Jim Rohn as a vice president for the organization.

Jim Rohn: How to Solve Your Money Problems (Law of Attraction)

Jim Rohn: How to Solve Your Money Problems (Law of Attraction)

Here is an exciting thought! Why not work full time on your job and part time on your fortune? And what a feeling you'll have when you can honestly say, "I'm working to become wealthy. I'm not just working to pay my bills." When you have a wealth plan, you'll be so motivated that you'll have a hard time going to bed at night.

So if you will indulge me, I would like to share a simple formula for creating wealth. Here’s my thought on how money should be allocated.

The 70/30 Rule

After you pay your fair share of taxes, learn to live on 70 percent of your after-tax income. These are the necessities and luxuries you spend money on. Then, it’s important to look at how you allocate your remaining 30 percent. Let's allocate it in the following ways:

Charity

Of the 30 percent not spent, one-third should go to charity. Charity is the act of giving back to the community and helping those who need assistance. I believe that contributing 10 percent of your after-tax income is a good amount to strive for.

The act of giving should be taught early, when the amounts are small. It's pretty easy to take a dime out of a dollar. But it's considerably harder to give away a $100,000 out of $1 million. You say, "Oh, if I had $1 million, I'd have no trouble giving $100,000." I'm not so sure. $100,000 is a lot of money. Start early so you'll develop the habit before the big money comes your way.

Capital Investment

With the next 10 percent of your after-tax income, you're going to create wealth. This is money you'll use to buy, fix, manufacture or sell. The key is to engage in commerce, even if only on a part-time basis.

So how do you go about creating wealth? There are lots of ways. Let your imagination roam. Take a close look at those skills you developed at work or through your hobbies; you may be able to convert these into a profitable enterprise.

In addition, you can also learn to buy a product at wholesale and sell it for retail. Or you can purchase a piece of property and improve it. Use this 10 percent to purchase your equipment, products or equity—and get started. There is no telling what genius is inside you waiting to be awakened by the spark of opportunity.

Savings

The last 10 percent should be put in savings. I consider this to be one of the most exciting parts of your wealth plan because it can offer you peace of mind by preparing you for the “winters" of life. Let me give you the definition of "rich" and "poor”: Poor people spend their money and save what's left. Rich people save their money and spend what's left.

Twenty years ago, two people each earned a $1,000 a month and they each earned the same increases over the years. One had the philosophy of spending money and saving what's left; the other had the philosophy of saving first and spending what's left. Today, if you knew both, you'd call one poor and the other wealthy.

So, remember that giving, investing and saving, like any form of discipline, has a subtle effect. At the end of the day, the week, the month, the results are hardly noticeable. But let five years lapse and the differences become pronounced. At the end of 10 years, the differences are dramatic.

And it all starts with the same amount of money—just a different philosophy.

*CREDIT

Jim Rohn

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