How To Get Rich After 50

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How To Get Rich After 50

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How To Get Rich After 50 Video

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Really an interesting book on how to earn a steady passive income and become financially free. The tips were mostly leaning on online businesses that can be done by anyone with the right approach.

The author didn't provide any strategies where the reader would reply '' Now that I can't do '' All of the ways to make money were simple and require determination to see results.

I really enjoyed this book. The title could have been different since the tips that were given could be useful to younger guys as well.

Never the less Awesome book! I'm nowhere near 50 but man what an awesome book. Reason I got this book is I'm always interested in improving my financial situation.

This book should be read by anyone interested in improving their finances. A great book especially for the over 50 crowd. Trust me guys and gals, we need money at every age.

Basically become a salesperson for online companies but without a salary or benefits. Great ideas for making extra income after retiring or even before retiring.

These residual income's are low cost to start up. The book is short but packed with very good information to get ideas and suggestions for extra income.

Irene Conlan. Older people have a great, great advantage. We have an advantage to get wealthier way faster. And it's so ripe for the taking.

Siebold says most people have a lottery mentality and have been brainwashed to believe the only chance to get rich is by picking winning numbers or playing slot machines.

The rich, however, have trained themselves to expect big things to happen and earn more money. They're bold, aggressive and fearless in their pursuit of wealth, he says.

The average American needs to stop looking at money from a fear and scarcity point of view, and start seeing money through the eyes of freedom, possibility, opportunity and abundance, Siebold says.

A Chicago native, Siebold , a one-time tennis pro and mental toughness and critical thinking instructor, says he started interviewing millionaires in because he wanted to be financially independent.

He's been interviewing them since then and a friend suggested he should write a book about what he learned from them. Ask yourself: 'Is that helping me develop more wealth and build my net worth or holding me back?

After a year or two of interviews, I realized why I was broke. I thought just like the average person about money. They said you'd never have any money until you change the way you think about money.

I did, and it started working for me," Siebold says. At first, he says it's a necessary evil and you got to have it. It's no fun getting it, but you got to have it.

It means you can live an unrestricted existence if that's what you want to do. You can do anything you want anywhere in the world with whomever you want and for how long you want.

You don't have to be beholden to anyone else unless you choose to. It's freedom. If you start thinking about money in that way, it makes sense. That was a big one for me and then you start programming yourself long enough that you start to believe it.

According to Siebold he gets e-mails on a daily basis from people saying money doesn't grow on trees, money is scarce, money is tight and money is the root of all evil.

It's like we're living on two different planets with all of the people that think one way have all the money and the people that don't, don't have much of anything, he says.

Look at your beliefs and look at the beliefs of the wealthy and how they think about money. They see it as a game.

They're just playing a game, and they're having fun. They're moving things and they're creating value for society and they're getting richer all the time.

It's more about thinking about money in terms of abundance and opportunity and freedom and all the good things such as good health.

It can save your life if you have enough of it. You can pay for treatment for whatever you have. Siebold says society is brainwashed by "broke people" and institutions.

What does the church tell you about the chances of a rich man getting in heaven? Those who teach us don't have any money and most of our parents don't have money or know anything about it, he says.

Belief translates into behavior, Siebold says. If you think money is a negative and that if you're a rich person, you somehow don't care about people, you're greedy, you're a bad person and you're not spiritual, why would you want to behave in ways to create that?

All of these negative limiting beliefs are passed on to us. What are our chances or learning about money unless we come up in a rich family or a family that understands money, which is probably two or three percent of the population, he asks.

I know more wealthy people than anyone I know in the country. I interview only the self-made and not the ones who inherited wealth.

These people work hard every day. They're honest people. They're good people. I think lots of kids are brought up today to look down on the rich as if they received their money in some ill-gotten way or some illegal way.

It's not true. There are cases, but no more than any other class. Nearly half of all families have nothing, zero, nada saved for retirement.

Simply starting to save any dollar amount will put you above the average. You may have heard the average person is not saving nearly enough.

Every day, I help people plan for financial freedom who often will have a multi-million-dollar retirements without ever breaking a sweat.

Whatever your age, get started! The sooner you start the easier it will be. What will you need to save each day, month and year to have one million dollars by the time you reach 70?

We are assuming you are just getting started but if you have some money saved, you are going to have an easier time hitting this big milestone.

In the end, it really boils down to three things: time, compounding interest and savings. Calculations are compounded annually at a rate.

Also, the earnings are compounded and reinvested and do not take into consideration any tax implications and their effect on the investment.

They are not representative of past or future performance but are provided for illustrative purposes only. The illustration is not indicative of any specific investment.

Actual investment results will vary. This type of plan does not assure a profit or protect against loss in declining markets.

An eight percent annual return still well below the average return of various stock market indexes over time :. You will also likely receive tax breaks for contributing into a retirement account such as a k , IRA or b.

How To Get Rich After 50 - Motley Fool Returns

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