A Comprehensive Plan for Growing, Learning and Achieving from America's Foremost Business Philosopher. jim Rohn 1 year success plan- week1. 1. WELCOME We would like to officially welcome you to the Jim Rohn One-Year Success Plan! This is. Hello, Jim Rohn One-Year Success Plan members! Week 52 has finally arrived. In many ways, it feels as though, like life, we have come full circle. Just as we did .
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You cannot change the circumstances, the seasons, or the wind, but you can change yourself. That is something you have charge of. Jim Rohn. January. Reach All of Your Goals over the Next 12 One-Year Months! Welcome We would like to officially welcome you to The Jim Rohn One-Year Success Plan! This is. Unfortunately, we often have to face something that stops us from taking action. Sometimes it's a traumatic event or life stressor, while it can also be.
Learning is the beginning of health. Learning is the beginning of spirituality. Searching and learning is where the miracle process all begins. Habit is what keeps you going. Let others argue over small things, but not you. Let others cry over small hurts, but not you. Second, what could I read?
And third, who could I ask? Not much. We cannot casually pursue the goal we have set for ourselves.
Saving builds self-reliance. Our ultimate financial goal should be to become independent and have no need to rely on anyone else.
Ideally, we should be able to pay our bills and live off of the interest of the savings and investments we have for the long term. So through our diligent saving, we rely on what we have accrued.
Then we become more capable of helping those in need. We are now the lender and not the borrower. Saving allows us to rely on what we have stored up for ourselves if bad times come along. A good savings goal is to have at least six months of living expenses set aside. This gives you the ability to be self-reliant when you need it and the peace of mind of knowing you would be able to handle challenging circumstances if necessary. Saving money not only helps bring security and peace of mind, but it also begins to harness the power of compound interest.
As we will see next week, investing is the maximizing of capital gain and the harnessing of compound interest. Saving money in a standard savings account or money market account will pay a nominal sum depending upon interest rates. As we will discuss next week, there is something called the Rule of 72, which says that whatever interest rate you average, divided into 72, will determine how many years it takes to double your money.
So, at 3 percent, your money would double in 24 years. That isn t extraordinary by any means, but it does happen. Your money is working for you. You get more money simply by letting it sit there and letting compound interest do its work.
With saving, while this is a seemingly small beginning, Jim Rohn International One-Year Success Plan 5 Week 15 it is the strong foundation of security that allows you to build the future of your dreams and goals, and provides the anchor to help you weather financial storms that can come your way.
Stay tuned, because the real excitement comes next week when we talk about the power of investing. Basically, our understanding of the discipline of saving our money on a regular basis is for the safety and stability it creates.
Investing is for advanced compounding of your resources. So here is what we should focus on: Adopt the regular discipline of saving. Think like the tortoise and not the hare. Achieve self-reliance through saving. Harness the power of compound interest.
In the next section, Chris will give you some additional thoughts, ask questions for reflection and give you some actions points. Until next week, let s do something remarkable! Jim Rohn Do yourself a favor, and master the art of money. Treat it as an honored guest in your life, one who will quickly flee if you do not treat her well, but one who will stay and enrich your life beyond measure if you treat her with care and respect.
Philip E. As Jim wrote, saving money is simply a discipline, much like any other discipline. If you want to lose weight, you exercise a little each day. If you want to build wealth and independence, you save a little each month. As I wrote in a column recently, there is no magic formula, there is no Land of Oz, there are no silver bullets and there is no genie in a bottle. Saving will come the same way all good things do: through a plan, hard work and discipline. With that understanding, here are five steps for savings success: 1.
Every week, every two weeks, every month it doesn t matter. All that matters is that it is a consistent practice. It works for him, and he is diligent about doing it. At the first of every year, he writes a check from his business and socks it away, never to be seen again! The point is to do this regularly on a schedule that works for you. Pay yourself first.
One key principle many people promote is paying yourself first. This is sound advice. Personally, my habit is to pay God the first 10 percent more on that in the giving section in two weeks but as far as humans go, you should pay yourself first. The taxman doesn t get it, the credit card company doesn t get it you do. That is the way to do it. When you get your paycheck, write yourself a check or transfer it into your savings and put it away. Many people suggest and I think it is a good idea to put at least 10 percent away in savings.
This should be our goal.
As Jim mentioned, this is a good standard, no matter your salary. Unforeseen things can happen to even the best of us, and we are smart to be prepared. Do not touch your savings. Set it aside and let it be. Consider it gone except in the case of extreme emergency or opportunity. Investing is the second act of financial independence. Saving comes first for security and safety, and then you move on to investing and placing your capital at risk.
There is obviously a lot to be said about basic financial soundness, but what we ve discussed is a simple way to begin saving and developing financial independence Jim Rohn International One-Year Success Plan 7 Questions for Reflection Q. Do you have a plan for saving?
Have you ever? How much do you save? Have you been disciplined in your finances? Are you more like the tortoise or the hare? In what ways? Would you say your finances are under control or out of control? Why or why not? Do you have a good understanding of compound interest and the power it can bring to your financial life?
Have you begun to harness that power? Sit down and take a good look at where you are financially. Know firsthand how much you have, where it is, where it goes and what your potential is.
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