So You Want To Be A Millionaire 5 Steps To Ensure Your Millionaire Status!

“No Matter What, Remember to always share with those around you!” - Glenn

A millionaire is an individual who resides in a household whose net worth or wealth exceeds one million units of any currency.

1. Net worth is your total assets minus your total liabilities. What you own minus what you owe
2. Wealth refers to the value of assets owned minus the value of liabilities owed at a point in time.

It may surprise you but you are actually a Millionaire in the making:

1. The average Bahamian earns an income is $23,848 per year. After working an average of 40 years that totals some $953,920.00
2. The Average Bahamian Hotel Worker earns an income of $26,000.00 a year, totaling $1,040,000.00 over their working life.

So the real question is not whether you will be a millionaire because you are but will you use your earning to create wealth or simple give it away?

Will you chose debt or wealth?

As you cannot consume your money and create wealth at the same time. Nor can you service debt and build wealth at the same time.

By simply financing your current lifestyle with debt you are giving up the opportunity for a secure financial future.

Here is a test to see how well you are doing in building wealth.

Multiply your age by your current income then Divide by 10 the result is the estimated net worth you should have for your age and income.

If you are age 35 with an income of $40,000 your net worth would be 35 x $40,000.00 = $1,400,000.00 - $1,400,000.00/10 = $140,000.00.

It is also important to note that wealth takes time and the length of time is more important than the amount of money. Most Millionaires have been investing for 30 years.

Time is important because it allows you to take advantage of one the most powerful financial force – compound interest!

Step 1- Define Your Life Goals

Eight Ways To Protect Yourself Against The Swine Flu

As the World Health Organization raised its pandemic alert level to phase four on a six-point scale, indicating that it believes the likelihood of a pandemic, or worldwide epidemic resulting from the Swine Flu. Here are the best ways the U.S. Centers for Disease Control and Prevention says to protect yourself against this or any infectious diseases.

1. Wash your hands frequently with soap and warm water for 15 to 20 seconds or use an alcohol-based hand sanitizer if water isn't accessible.

2. Cover your coughs and sneezes with your hand or handkerchief.

3. Stay home from work or school if you feel ill.

4. Avoiding touching your eyes, nose and mouth to prevent the spread of germs.

5. Parents should seek urgent medical care if your children aren't waking up or interacting, have fast breathing or trouble breathing, fever with a rash, are too irritable to be held or whose skin color appears bluish.

6. Children who aren't drinking enough fluids or whose flu-like symptoms improve but then come back with a fever and a worse cough also require urgent medical attention.

7. You should seek immediate medical attention if you have difficulty breathing or shortness of breath, pain or pressure in the chest or abdomen, sudden dizziness, confusion or severe or persistent vomiting.

8. If you become sick, stay home for the period of infection, which is typically seven days, although children may be contagious for longer. Don't return to work or school until at least a day after symptoms disappears.

9. Avoid nonessential travel to the countries that pose the greater threats i.e. Mexico and U.S.

Taking Control of Your Money

You work hard for your money--really hard!

And every month you hope to start saving some of it. But life happen, things comes up.

You dream of having enough money to have the things you really love and to have fun too. But you worry that living below your means will destine you to poverty and never having what you want.

In this ebook, Glenn puts that myth to rest. With the right strategies and commitment you can pay your bills, prepare for the future and live the life you love -- all NOW!

Glenn has a gift for taking the fear out of money matters with his trademark warmth, simple and engaging style. In "Taking Control of Your Money" he hands you the tools, skills and motivation you need to reduce the cost in every spending area without sacrificing joy and quality of life.

Aimed specifically for people who are tired of working hard to just get by, this user-friendly guide offers the specific techniques, resources, and motivation you need to keep more of your hard earned money every month so you can save, give, and finally start making financial progress!

So isn't it about time for you to get started taking control of your money?

This might not be the only money book you'll ever need, but it's the book you need now!

Get Your Copy Today!

Why Plan For Retirement?

If you’re like me you don’t want to work for the rest of your life. You’re probably looking forward to the day when you can retire and spend more time doing the things you enjoy.

Surprisingly, that time will come much sooner than you think. To be ready for it, you need a plan. You need to save. You need to invest. And you need to start now.

Planning, saving and investing for your retirement will help you to achieve financial independence during retirement. I’m sure you don’t want to lower your standard of living when you retire. In fact, you may want to increase it by traveling more and enjoy other leisure activities.

To do that, you will need money and your pension and National Insurance benefits will cover only a portion of this amount. The rest will have to come from what you do on your own – from how much you save and how you invest.

That’s why it so important for your to start planning now. And “Strategies For Achieving A Comfortable Retirement - Your!" Workbook is a tremendous resource.

This comprehensive educational workbook will help you get answers to important questions about retirement as well as provides you with tools to create your own personalized retirement plan.

Get Your Copy Today email glenn@financialcoachingwithglenn.com

Financial Planning 4 Simple Steps to Getting Out of Your Credit Card Madness

"The smallest good deed is better than the grandest good intention" – Duguet

This quotation reminded me of a letter I received recently. It read:

"Dear Glenn, I need your help! I have ended up with credit cards debts that I can't seem to pay off. I've been sending the "minimum payment" on the cards most months but they are usually late because of my other bills. I don't use the cards now except for emergency situations but they don't seem to be going down. I feel like I'm throwing my money away. Desperately need help."

Unfortunately, Vanria is not alone in her financial plight. Credit card debt is a common problem not only in The Bahamas but worldwide. The good news is that with an organised approach and some determination, you can get rid of it.

Here are the four simple steps I shared with Vanria and I'm sure it will work for you as well:
To Read More Go Here Getting Out of Your Credit Card Madness

Happy Earth Day!

Today, people around the world are celebrating Earth Day. What are doing to celebrate?

I am celebrating by looking at all the ways that you can go green. The truth is that “going green” can really save you some money!

It is possible to save 16% on your water bill…Cut your electricity cost anywhere from 5% to 25%...and even reduce your grocery bill…all by going green!

So Going Green Will Not Only Help The Planet But Will Also Have a positive impact on your bank account.

Financial Planning- Playing The Numbers Game

"Don't judge each day by the harvest you reap, but by the seeds you plant."- Robert Louis Stevenson

I read with interest an article recently that seek to encourage the legalizing of “the numbers game.” While the writer made his case these lines makes another case “I am beginning to think, however, that this number is never going to fall, but whenever it does, rest assured that I shall recoup some of what I have already invested in it”

Not withstanding the excitement of the game or the fact that persons especially the number house operators have benefited. The truth is you have a better chance of drowning in your own bathtub or being struck by lightening than ever getting the money back that you have spent on playing numbers.

Playing the numbers game goes against the tenants of my view on investing that is “the key to making money is not to lose it!” Whenever an investment loses money then it is not a good investment.

So the question you must always ask yourself is “what are the ways that I can lose money with this investment?” You are not ready to invest until you are able to answer this question.

You should only focus on investments that guarantee the return of your money first. Once your money is secure then you should consider the returns on your investment.

You may not know but there is a much better numbers game that you can use to dramatically increase your financial position. It is far less visible, but far more powerful than the numbers game you may be accustom to. It is compounding.

Albert Einstein described compounding as “the eight wonder of the world” and you can easily put this force to work for you.

To Read More Go Here Playing The Numbers Game

Financial Planning- Take Control Of Your Money!

"You need to make a commitment, and once you make it, then life will give you some answers." - Les Brown

You don’t have to live pay cheque to pay cheque! You can get rid of your financial stress by simply taking control of your money! You’ll breathe easier and sleep better once you are financially prepared for the possibilities of a job loss, disability, illness, hospitalization or death and your own retirement.

What would it be like for you to Debt-Free? To be able to go to the post at the end of the month and not be afraid of the bills that are waiting for you! Not having to worry about where you will find money to pay your electrical bill or your child’s school fees.

This could be your reality if you’d just decide today to take control of your money. Most people feel that financial freedom is something mystical and that it is alright to be stressed out by your finances but don’t you think it would be so much better if you didn’t have to worry about money?

Wouldn’t it be great if you were able to keep more of your hard earned money for you and not feel that being without money is normal? It certainly cannot be normal to be without money if it's the one thing most people are concerned about.

So why don’t you decide that you’re not going to take it anymore, you are not going to be a part of the crowd who don’t have money but instead you’re going to be one of the persons’ who don’t have to worry about money. Why don’t you decide that today will be the last broke day you have!

To Read More Click Here Taking Control of Your Money

Financial Planning- The One Thing You Can Do Today To Improve Your Sex Life And Get 10 Other Benefits!

"Love has nothing to do with what you are expecting to get–only with what you are expecting to give–which is everything." - Anonymous

While you may have heard that the number one problem in marriages is the lack of communication. I believe that this is only a symptom of a deeper relational problem - Selfishness.

Selfishness is simply “seeking one’s own advantage, pleasure, or well-being without regard for others.”

And all of us struggles with selfishness. You want what you want when you want it. Think about it. You don’t have to teach a young child how to say “gimme, gimme” when they see something like a toy they want that someone else has. It almost seem as if it something you are born with.

And as you get older that just does not change even following you into your relationships and eventually marriage. With the result being that you rarely focusing on enriching others which is why one in five marriages end in divorce.

To Read More Go Here Improve Your Sex

Financial Planning - Money, It Could Be The Real Cause of The Stress In Your Marriage!

I am realizing more and more that money is stressing more marriages than anything else and the research that I have read confirms this. One of Five marriage in The Bahamas ends in divorce and the overwhelming reasons is money!

I am sure you may be thinking that its the sex, your children or even your nosy mother in law but when you really look at it – it could be your money that is causing the real stress in your marriage!

So,

1. How do you ensure that money is not adversely affecting your marriage?
2. How do you avoid money becoming the source of arguments, frustrations and division in marriages?

Usually , frustrations about money are only a symptom of a larger problem in your relationship-because how you use your money is usually a reflection of what is going on in your heart. And when you don't trust your spouse with how they are using money then clearly the hearts are beating to separate drums.

To Read Click Here Money It Could Be The Real Cause of Stress

Life Insurance- What's Right For You?

Once you know the amount of coverage you need, then you have to determine which type is best for you. If you are looking for the insurance investment that provide the greatest benefits then you should consider a Whole Life insurance policy.

A Whole Life insurance policy provides you with both an insurance component and savings component called cash values; which means you have life insurance protection in the event of your death and accumulates cash over time should you live.

You pay one premium for the total insurance policy, with part of the premium used to pay for the insurance coverage and the remaining part of the premium used toward your investment savings. This savings portion of the policy is invested in one or more investment vehicles (mortgages, stocks, bonds, mutual funds, etc.) that the insurance company select and the investments chosen will generally provide a better rate of return than you would get from a bank’s savings account and the cash value of your policy can usually be accessed if you need money.

To Read More Go To Life Insurance- What's Right For You?

Life Insurance…A Tool You Should Have!

When you thinks of a tool you do not usually think of insurance but insurance is a tool! The Oxford School Dictionary defines a Tool, as “an object that helps you do a particular job.”

This is exactly what insurance is; it is a tool that allows you to provide the vital protection needed for you, your family, and your property in the event of a natural disaster, accident, illness or death. But only if you have the right type and amount and so it is with all tools, to get the job done you must have the right tool!

So do you have the right tool?
1. Do you have adequate and appropriate Life insurance coverage?
2. Do you have adequate health insurance coverage?
3. Do you have adequate homeowners insurance coverage?
4. Is disability insurance important to you?
5. Is content insurance important to you?

And you should have a tool chest, which is your financial plan!

As you can see there are various types of insurance that you should include in your Tool Chest, one of which is Life Insurance.

Life insurance plays an important role at every phase of life, whether it is “getting married,” “having a child,” “buying a home,” “retirement” or even “death.”

Life Insurance is a valuable tool that helps to preserve your financial stability after the loss of a loved one. Simple put it provides you with income when you need it most!

To Read More Click Here Financialcoachingwithglenn.com

3 Things You Can Do To Recession Proof You.

"The best motivation is self-motivation. The guy says, "I wish someone would come by and turn me on." What if they don't show up? You've got to have a better plan for your life." - Jim Rohn

It is amazing how you may not realize it but you have the most important job on the planet. You are the CEO of the most important company in the world, Y.O.U. Inc.

And like all CEO's you must understand the numbers that make your company thrive, if not then you could expect what all non performing CEO get – FIRED! But you don't get to walk away with a golden hand shake or the prospects of a better job. All you get is a diminished quality of life that keeps you wishing and longing for more all because you did take the time to better understand the three most important numbers to your corporation. What are those three numbers? I am glad you asked.

To Read More Click Here financialcoachingwithglenn

Don't Let Your Debt Keep You Apart

“I'm not happy, I'm cheerful. There's a difference. A happy woman has no cares at all. A cheerful woman has cares but has learned how to deal with them.” Beverly Sills, American Opera Singer
There is nothing that affects a marriage relationship more like money and when things get tough as they are now money can quickly bring a seemingly happy marriage to its knees. And while financial infidelity is never good it is the worst thing you can do to your relationship now.

Let me explain, you have grown accustom to earning and spending your money the way you felt appropriate. He pays his share of the household bills and you paid yours. But now things have changed, your income is not as stable as it used to be and so you aren't able to make the contribution to the household as you should because those consumer loans that you got without telling him are taking more of your salary to service. And now he wants to know what going ...

While debt may not lead to the dissolution of your marriage it could place a tremendous strains on your relationship and a damper on your love life, as debt is considered a leading cause of family conflict.

This is why it is so important that you and your partner consider taking the following actions before your financial infidelity catches up with you.

To Read More Go To financialcoachingwithglenn.com

Retirement-It's Only A Matter of Time!

"Time sneaks up on you like a windshield on a bug." Jon Lithgow

While travelling between Grand Bahama and Abaco recently, I had the pleasure of rekindling acquaintances and renewing friendships. I was able to spent time with persons whom I hadn’t seen in years. I was excited for the opportunity to see and share with each of them but there was one thing that stood out to me. How much most of my friends had changed since the last time I had seen them.

I was now seeing them in a way that I hadn’t seen them before। They were now much older and it showed not only in the colour of their hair but also in the frailness of their bodies। Then I realized that it was only a matter of time before all of us no matter whether we were born yesterday or today will eventually experience these same tranformations। We are all getting older and weaker; and headed to a time where the things we were once able to do with ease will become extremely difficult for us as our lives begins to slow down। All of us, if we live long enough will experience the meaning of the expression “once a man and twice a child.” It’s only a matter of time!


To Read More Go To financialcoachingwithglenn.com

7 Simple Steps To Help You Through Your Financial Crisis

"More people would learn from their mistakes if they weren't so busy denying that they made them."- Unknown

There cannot be many of us that are unaffected by the current global financial meltdown and I'm sure that it is the one thing that is at the forefront of most of your minds. And even if it was not, the simple act of turning on the television, picking up the newspaper or turning on the radio will quickly change that.

But no matter what going on in the world around you the most important question for you is what's going on in your household. So “Are You In A Financial Crisis?”

And you can easily determine the answer to this question by your response to these statements:

To Read More Go to financialcoachingwithglenn.com