In my work as a therapist, I often come across clients who have fear of success. And what makes this condition worse, is that it is nearly always concealed from conscious awareness.
This condition is linked with fear of death/loss, which in turn is linked with the fear of the unknown, which is linked with the fear of change. And this can quite easily be reversed.
Fear of change = fear of the unknown = fear of death/loss. As the subconscious mind does not reason, these fears are all considered to be one and the same.
If we look at eastern philosophy, the reality of death is embraced in their meditative disciplines. For instance, in Zen, the student is encouraged to look at the cycle of birth and death
and transcend his fear of it. Simply put, what is eventually realised, is that each moment of our experience dies to the next as it is being born, and this realisation may lead to the emancipation of the student's mind from fear of death/loss, change, or the unknown.
The main purpose of our life, whether we are aware of it or not, is to make a positive difference. One of the ways in which westerners makes a difference is with money. The problem is that there is so much taboo surrounding the subject, that many have become really "hung-up" over it. This is not due to the fact that money exists, but due to our relationship with it.
If I was to ask someone, "do you want money?" The reply may be "Yes." If I then was to ask "why?" A reply may be, "Because I like it?"
Does that sound wrong to you? Honestly?
If it does sound even slightly wrong, it would probably be because of past conditioning and by merely acknowledging it, you would be on the path to liberating yourself from feeling that its
wrong to like or want money. I am not talking about secretly inside your own mind, but outwardly feeling free to ask for it in your dealings with others.
So the first step to releasing any taboos we may have regarding money is to learn to open up to them. Discussing them freely with others is a great way to do this, but often somewhat embarrassing.
The next problem that generally comes into this weird relationship we have with money is the fear of loss. To our detriment, we often hold on to every cent and the old adage "you've got to speculate to accumulate" is ignored. To the subconscious loss = death, and we have a strong inclination to minimise all risk, but this is something often taken to the extreme.
The truth is that sometimes we will win, sometimes we will lose and that is a fact of life.
Financially speaking, what is really wanted and needed here is to look at what's at stake. If we were to lose as a result of the risk we are taking, will it really be so bad? But on the other hand, if we were to win... So a risk is nearly always needed especially in business.
The saying "everybody loves a winner" drags up the opposite, "everybody hates a loser" and that is what many of us want to avoid. If this is particularly strong in our minds and imagination, we never get to take the risks necessary to win.
What I am saying here is that you cannot create something without also creating its opposite. In your experience, you create the universe around you. I know it's already there, but you create
your *experience* of it. So if you create light, you cannot avoid creating dark. Because no dark, no light. Otherwise, how would you know it was light?
So to create a fear of poverty is to also to create a fear of wealth. Fear of loss - fear of gain. So, when it comes to wealth creation, there is a ton of scepticism because of the risks, because of the fear of loss, because of the fear of being "hated as a loser". It's not always about losing the actual cash as people tend to waste more on frivolous things.
So what can be done about this?
The way to deal with any fear is to face it. But only face it to the degree that you are willing to do so in the moment of now, as you cannot face anything without being willing to do so. And the
experience of willingness is either there or not. It cannot be forced. This is because willingness cannot be defined. One day you could be unwilling to face a dilemma, the next you can find
yourself willing to deal with what you consider to be your worst nightmare.
So the final solution to your relationship with money is to become aware of all your resistances, observe them allowing your awareness to analyse any barriers that may be there, then act -
when you are willing.
Saturday, June 24, 2006
Financial Intelligence - Do you have it?
Financial Intelligence - Do You Have It?
The rich and successful stand out from the rest because of
their Financial Intelligence education, not their
scholastic education. This is something that we are not
taught in school but rather something that is acquired.
To give you an example:
Is your home an Asset or a Liability?
The general consensus is that it is an Asset. But is it?
To answer that question we must first understand the
difference between Asset and a Liability (financial
intelligence).
Simply put:
"An Asset puts money into our pockets."
"A Liability takes money out of our pockets."
Knowing these two basic rules of financial intelligence
lets re-visit the question.
Is your home an Asset or a Liability?
1. Every month we make a mortgage payment - (Cash flows
out).
2. We pay yearly taxes on our property - (Cash flows out).
3. We have to pay for repairs - (Cash flows out)
4. When the mortgage is paid we still have to pay the other
two - (Cash flows out)
As you can see, if you buy a home, cash will always flow
out of your pocket. Thus your home is a Liability.
Does this mean that we shouldn't buy a home? No, not at
all.
The point that is being made is that if we wish to be rich
(or wealthy if you are uncomfortable with the word rich)
and successful we need to understand how to accurately
distinguish Assets from Liabilities.
Most people spend a lifetime acquiring Liabilities rather
than Acquiring income generating Assets. The rich or
wealthy spend a lifetime acquiring income-generating
assets and purchase liabilities that work for them instead
of against them.
An interesting fact and one that seems to be a stumbling
block for most people is that you don't need to be rich to
acquire income-generating assets. 80% of today's wealthy
had nothing when they started. The other 20% inherited
their fortunes.
So, if you desire to be wealthy there are two basic things
you have to learn how to do:
1. Continually acquire income-generating assets (cash flows
in). It does not matter how small they are when you start.
Over time assets will build up.
2. Learn to acquire Liabilities that work in your favour
and not against you.
"It's not how much money you make, its how much money you
can keep that counts. There is always hope for those that
help themselves"
The rich and successful stand out from the rest because of
their Financial Intelligence education, not their
scholastic education. This is something that we are not
taught in school but rather something that is acquired.
To give you an example:
Is your home an Asset or a Liability?
The general consensus is that it is an Asset. But is it?
To answer that question we must first understand the
difference between Asset and a Liability (financial
intelligence).
Simply put:
"An Asset puts money into our pockets."
"A Liability takes money out of our pockets."
Knowing these two basic rules of financial intelligence
lets re-visit the question.
Is your home an Asset or a Liability?
1. Every month we make a mortgage payment - (Cash flows
out).
2. We pay yearly taxes on our property - (Cash flows out).
3. We have to pay for repairs - (Cash flows out)
4. When the mortgage is paid we still have to pay the other
two - (Cash flows out)
As you can see, if you buy a home, cash will always flow
out of your pocket. Thus your home is a Liability.
Does this mean that we shouldn't buy a home? No, not at
all.
The point that is being made is that if we wish to be rich
(or wealthy if you are uncomfortable with the word rich)
and successful we need to understand how to accurately
distinguish Assets from Liabilities.
Most people spend a lifetime acquiring Liabilities rather
than Acquiring income generating Assets. The rich or
wealthy spend a lifetime acquiring income-generating
assets and purchase liabilities that work for them instead
of against them.
An interesting fact and one that seems to be a stumbling
block for most people is that you don't need to be rich to
acquire income-generating assets. 80% of today's wealthy
had nothing when they started. The other 20% inherited
their fortunes.
So, if you desire to be wealthy there are two basic things
you have to learn how to do:
1. Continually acquire income-generating assets (cash flows
in). It does not matter how small they are when you start.
Over time assets will build up.
2. Learn to acquire Liabilities that work in your favour
and not against you.
"It's not how much money you make, its how much money you
can keep that counts. There is always hope for those that
help themselves"
Monday, June 05, 2006
Get a Cash Payout On a Structured Settlement
It is not uncommon for people who are beneficiaries of a structured settlement to sell some or all of the settlements for a cash payout. The reasons for selling a structured settlement vary but the process for obtaining cash for a structured settlement is the more or less the same across all states in America.
There are many settlement-purchasing companies that offer a number of plans for buying a structured settlement and offer an instant cash payout. The plans offered by these companies are useful for obtaining a lump sum for repaying debts, financing college education, or availing a business opportunity. Since there are many financial companies that purchase settlements, it is in the best interests of the seller to seek advice from his attorney and financial advisor before deciding to do business with a particular structured settlement company.
An online research should yield details on a number of structured settlement companies that one can visit online. The key factors that decide the choice of a structured settlement buyer include the rate of interest charged, the buyer’s financial standing, buyer’s reputation for fair-dealing, and his relationship with the insurance companies or the actual payers of the structured settlement installments. Since the cash payout is less than the value of the settlement sold, one should actively seek out a buyer that offers maximum cash payout for the settlements sold. Costs incurred in the sale of a structured settlement also include service fees, closing fees, broker fees, and legal expenses.
The responsibility of getting the best out of the sale of structured settlement lies with the seller. This means he has to be aware of the minimum waiting period, if any, that the state may impose on the sale of a structured settlement as well as other state and federal regulations that govern the sale of a structured settlement.
A written court order approving the sale of structured settlements is necessary for the seller to receive the cash payout. Court approval is subject to the seller being able to prove that the sale is the best means available to him for achieving liquidity. Brokers who are knowledgeable about the court procedures involved in the sale of structured settlements can offer useful help to the seller and his financial advisor. The entire process of obtaining a cash payout can take up to sixty days and includes submitting an application to the settlement buyer, signing of the closing documents by the two parties, and the legal formalities.
There are many settlement-purchasing companies that offer a number of plans for buying a structured settlement and offer an instant cash payout. The plans offered by these companies are useful for obtaining a lump sum for repaying debts, financing college education, or availing a business opportunity. Since there are many financial companies that purchase settlements, it is in the best interests of the seller to seek advice from his attorney and financial advisor before deciding to do business with a particular structured settlement company.
An online research should yield details on a number of structured settlement companies that one can visit online. The key factors that decide the choice of a structured settlement buyer include the rate of interest charged, the buyer’s financial standing, buyer’s reputation for fair-dealing, and his relationship with the insurance companies or the actual payers of the structured settlement installments. Since the cash payout is less than the value of the settlement sold, one should actively seek out a buyer that offers maximum cash payout for the settlements sold. Costs incurred in the sale of a structured settlement also include service fees, closing fees, broker fees, and legal expenses.
The responsibility of getting the best out of the sale of structured settlement lies with the seller. This means he has to be aware of the minimum waiting period, if any, that the state may impose on the sale of a structured settlement as well as other state and federal regulations that govern the sale of a structured settlement.
A written court order approving the sale of structured settlements is necessary for the seller to receive the cash payout. Court approval is subject to the seller being able to prove that the sale is the best means available to him for achieving liquidity. Brokers who are knowledgeable about the court procedures involved in the sale of structured settlements can offer useful help to the seller and his financial advisor. The entire process of obtaining a cash payout can take up to sixty days and includes submitting an application to the settlement buyer, signing of the closing documents by the two parties, and the legal formalities.
Get Cash Flow For a Structured Settlement
There are various companies that offer a lump sum payment in exchange for cash flow streams generated by structured settlements. Beneficiaries of structured settlements often have to sell settlements when faced with an urgent or near-term liquidity need.
The process of selling structured settlements begins with understanding one’s requirements and the immediacy of the need. This can be done with the help of a financial advisor. In fact, in several states in the U.S, it is mandatory to take legal advice before selling a structured settlement. Brokers who are knowledgeable about the court procedures involved in the sale of a structured settlement can be of great help. Brokers are in contact with numerous settlement companies and upon understanding a seller’s unique requirements they can guide the seller to the most appropriate settlement company. Either with the help of brokers or by searching online, one can select a financial institution that appears to offer the best price for the structured settlement at minimum cost and in as less time as possible. Sellers should also check the prospective buyer’s credentials, the rate of interest they offer, and their record for prompt payments.
Sellers are usually required to fill an application form that provides the buyer with necessary information such as amount required, nature of the structured settlement, and the insurance company. Upon approval of the application, the buyer forwards closing documents to the seller. These should be studied and understood by the seller with support from his financial advisor. Once the provisions mentioned in the closing documents are met, the funds are released to the seller. The insurance company is made aware of changes in ownership of the structured settlement. The receipt of cash flow by the seller is subject to court approval. The court assesses the seller’s circumstances and then decides whether the sale is in the best interests of the seller and his dependents. A court approved sale of structured settlements is tax-free for the buyer and seller.
The cash flow received in exchange for the structured settlement is minus the buyer’s fees and other expenses such as broker commissions, application fees, and legal expenses. These costs are not out-of-pocket expenses for the seller nevertheless they should be carefully considered with respect to different buyers and the maximum amount that can be obtained by the sale of a minimum number of structured settlements.
The process of selling structured settlements begins with understanding one’s requirements and the immediacy of the need. This can be done with the help of a financial advisor. In fact, in several states in the U.S, it is mandatory to take legal advice before selling a structured settlement. Brokers who are knowledgeable about the court procedures involved in the sale of a structured settlement can be of great help. Brokers are in contact with numerous settlement companies and upon understanding a seller’s unique requirements they can guide the seller to the most appropriate settlement company. Either with the help of brokers or by searching online, one can select a financial institution that appears to offer the best price for the structured settlement at minimum cost and in as less time as possible. Sellers should also check the prospective buyer’s credentials, the rate of interest they offer, and their record for prompt payments.
Sellers are usually required to fill an application form that provides the buyer with necessary information such as amount required, nature of the structured settlement, and the insurance company. Upon approval of the application, the buyer forwards closing documents to the seller. These should be studied and understood by the seller with support from his financial advisor. Once the provisions mentioned in the closing documents are met, the funds are released to the seller. The insurance company is made aware of changes in ownership of the structured settlement. The receipt of cash flow by the seller is subject to court approval. The court assesses the seller’s circumstances and then decides whether the sale is in the best interests of the seller and his dependents. A court approved sale of structured settlements is tax-free for the buyer and seller.
The cash flow received in exchange for the structured settlement is minus the buyer’s fees and other expenses such as broker commissions, application fees, and legal expenses. These costs are not out-of-pocket expenses for the seller nevertheless they should be carefully considered with respect to different buyers and the maximum amount that can be obtained by the sale of a minimum number of structured settlements.
Bad credit second mortgage loan: A good answer to all your financial demands
Bad credit second mortgage loan is like exchanging your first mortgage for a new mortgage. But, the question may arise in your mind why you should go for remortgage while continuing your first mortgage? The basic and primary reason is to save money i.e., getting mortgage at low rate of interest. Bad credit second mortgage loan can be used for many purposes like home improvements, debt consolidation, children’s education, holidays, etc.
For persons having bad credit record, bad credit second mortgagecould be the best option. Though bad credit pose a great problem in getting loan approval and people face a lot of problems and hassles. Lenders have specially designed bad credit second mortgage to avoid hassles for persons with such problems.
Owning a home does not solve all your problems. Your needs and desires will always knock your door. You have to fulfil all your needs and desires to be happy in life. In such a situation, second mortgage i.e., refinancing is a good option. If you have a bad credit then bad credit second mortgage is always with you to satisfy all your needs and wants.
As bad credit second mortgage is secured against your property, you will get competitive interest rate on the lower side for your second mortgage.
Apply for bad credit second mortgage and fulfil all your needs and wants. Get rid of financial crunch and feel happy.
For persons having bad credit record, bad credit second mortgagecould be the best option. Though bad credit pose a great problem in getting loan approval and people face a lot of problems and hassles. Lenders have specially designed bad credit second mortgage to avoid hassles for persons with such problems.
Owning a home does not solve all your problems. Your needs and desires will always knock your door. You have to fulfil all your needs and desires to be happy in life. In such a situation, second mortgage i.e., refinancing is a good option. If you have a bad credit then bad credit second mortgage is always with you to satisfy all your needs and wants.
As bad credit second mortgage is secured against your property, you will get competitive interest rate on the lower side for your second mortgage.
Apply for bad credit second mortgage and fulfil all your needs and wants. Get rid of financial crunch and feel happy.
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