Category: Wealth
This Saved Me $7,000
A few years ago, when I first started earning a good sized income from home, I was somewhat shocked to discover that on top of my normal income tax rate, I was required to add on another 15.3 percent in what’s known as self employment tax. Fortunately, I discovered a legal strategy that saved me …
Read moreThe Autoship
I’ve had an auto ship (monthly recurring product cost) each month since I joined Home Business in 2005. 13 years. In that time, never can I recall, ever complaining about it or wishing I didn’t have it. I’ve never really thought about my auto-ship as an expense. To me, it’s always been an asset. Of …
Read moreMoney For Nothing
When I woke up this morning that line from that old Dire Straights song was playing in my head. “Money for nothing…” This concept has driven all of income producing activities for the last 9 years. Not that I want money for nothing now, but at some point, I want to have money coming in …
Read moreGiving Kids Money
Yesterday I was sitting in my car with my 8 year old son, Kyson, and he asked me, “Dad, can I have this pile of change?” ‘Sure son, you can.’ Then I thought for a moment. When he grows up, he’s going to be responsible for providing for himself and his family and I want …
Read moreIt’s A Cash Cow
Have you ever wondered why, often, you’ll see top earners in home business transition to selling training & information. Some even move their full time efforts and begin to focus 100% on this type of venture. Someone told me that in one giant legacy network marketing company, the lion share of the profits were being …
Read moreMillions & Mentors
One of my favorite mentors, Jim Rohn, said ‘You should set the goal of becoming a millionaire, not for the million but because of what it will make of you in the process.’ But then, Andrew Carnegie told Napoleon Hill that not everyone should set up the goal of becoming a millionaire, because for some, it …
Read moreMillionaires & Freedom
A while back a friend asked what my definition of ‘millionaire’ status was. Being a millionaire, in my book, is all about net worth. Net worth: The value of your assets minus your liabilities (debt) If you have a house that’s worth $300K and you owe $250K, your net worth in this example would be …
Read moreFaster Taxes
In years past gathering my financial data for my accountant was a 2-3 day affair. I just finished that entire process in just about 2 hours. Part of the reason it went so fast this time, was because I’ve been keeping business books with QuickBooks online for my businesses. Instead of spending hours trying to …
Read moreThe 3rd R
The first step to building a residual income from home is to recruit. Not recruit and drain. Recruit and retain. If you can recruit and retain – wallah, you now have residual income. But that’s not all. If you want to help others do it to, you have to know about the 3rd R. And …
Read moreWhy I Don’t Budget
The other day, as we were studying law of success #3, the habit of savings, one of our mastermind participants, Lillian Gregory, mentioned how the ideas of budgeting and saving money never seem to get her excited. I can totally relate. Budgeting and saving money for the sake of budgeting and saving money alone, never …
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