Ok...what about me.

The last sets of posts I have primarily tried to provoke thought and action as it relates to the predicament alot of us are in. This time around, I want to talk a little of myself and why this matters so much to me and perhaps to so many more.

I look around me and see so many people I either work with or hear from routinely that are having troubles. Hey, we are all having some sort of financial issue these days. The thing is, I notice most people I talk to are skeptical, fearful, and not open to new ideas, concepts or even just to educate themselves. Frankly, I can accept when I hear people say they might have interest in one topic or another. However, I cant stand to hear people bash an idea or concept that they have not even taken the time to learn about. How do you do that? For those that do that, I look at the things they do and say and it amazes me because it borders on blissful ignorance. I see so many wandering in my mind unaware of how personal, state, or global finances affects them. Hey the STAR tax is going to be cut..I could find a bunch of people that dont even know what it is. So if you dont read or educate yourself on how some of the largest institutions, or richest people, make their money, how do you think you will make yours. Very few people have started off with no one and made it really big ALL on their own. There is truth to the saying Birds of a feather flock together. Warren Buffet is not going to have people around him that dont think about their financial picture. That is why more and more I have tried to surround myself with others like me. Unfortunately, that also means I have not stayed around my friends much. I still associate on a friendly basis. When it comes to business...that is out.

For those that at least read each day on the days events, listen to the news, talk about things that are happening, those people have a better shot at changing themselves and their circumstance. When I hear people complain about their circumstance and then blast every idea that comes their way, I sit and wonder why they say anything at all. If anything the only thing they should say is good luck or I wish you well. Hey, the lie sounds better than the other nonsense. When I encounter these people I simply dont speak about what I do or why. My opinion is that a mind unwilling to consider or acknowledge that there is information out there that can help and change their life, is not worth the time. Change comes from within. I cannot change others.

I have come to enjoy learning. Since financial education is not taught, learning new things about it is like a new world to me. I am beginning to also see others around me and on the net develop. I recently went to a Christmas party with some of my partners. It was great to hear them all developing and enjoying their pursuit despite their struggles. Hey, my coach got laid off and yet her enthusiasm for growth, prosperity and a desire to help others is infectious. I truly believe that I have that infectious spirit, the spirit of leadership. I feel I will help those who want to help themselves.

All that said, if I could summarize myself I would say this:

Before I was a pharmacist I knew I always to help others and in my own way find a way to improve their lives. I became a pharmacist to do that. After 10 years now, I have found another avenue with which to effect change. I am adamant about what I do. I am a leader. I am one who looks to mentor others and continue to help improve their lives. As I continue my development with my coach and other entrepreneurs, I will become even stronger. I WILL CHANGE MY FINANCIAL PICTURE AND CREATE THE LIFESTYLE I WANT.

Where is your check???

Ok, in case you are living in a vacuum, things are clearly not well at this time. If you live in NY, the DOOMSDAY budget has been announced and the STAR Tax rebates are going to be cut. Oh, and now you are going to be taxed on the music you download, your haircuts...oh if you LOVE regular soda..YEAH thats going to cost you as well. A proposed 18% (yes I said 18%) tax on all NON-diet sodas!

Lets face it...the government FINDS new and innovative ways to get more more for itself when it needs to. Hey, the environmental protection fund is even being slashed...gotta make money even at the expense of the planet. We should take a good look at the government as an example of the drive and innovation it uses to leverage you. Funny thing with this kind of leverage is that, YOU really get nothing out of it. The long Island railroad raised rates and is using less cars. Hmmm, when was the last time someone told you a good business idea was to pay more for less? Be that as it may..WE HAVE NO CHOICE.

So here is the point...WHERE IS YOUR CHECK? Your tax rebate check is not coming. You are paying more for less train service. Education at SUNY schools will cost more...and you HAVE to do it on the SAME dollars you are WORKING for! I dont think many of us, if any, can expect a bonus this year. (If you do, can you spare some?)
If the government puts all kinds of new measures to get more money from you, what measures are you using to get more money for YOURSELF?

I am not here to say that one way is the right way. The point of these discussions is to open minds to all alternatives and ventures. Right now, I may not jump into the market if I had little to work with. Keep in mind I said LITTLE. Warren Buffet has alot and is putting money into the market because...well he can afford the hit. Most of all, he understands business and how the market will turn. Therefore, by positioning himself at a time when things are not so good, he will benefit greatly later. Most of us dont position ourselves to take advantage of market trends or business opportunities. The key here is POSITIONING... The rest of us need to start positioning ourselves to generate multiple streams of income.

Here is some information that is interesting to note. As an economy slides, home based business increases. Why? Lets use Warren Buffet again. He is taking full advantage of the down market.In fact just recently, an article on the business web site Motley Fool literally titled an article "Is Warren Buffet Insane?" (Here is the linkhttp://www.fool.com/investing/value/2008/11/28/is-buffett-insane.aspx) Note the end of the article. Essentially it says that Buffet always looks at the long term goal. The point is that in down times, Buffet seeks to take advantage. Therefore, looking into something at home right now makes sense! Thats why more home based businesses start in down economies. So if statistically this is true, why not try it for yourself?

Its fair to say emulating at least the thinking and strategy of Buffet or others who know about finances is a good thing. For the rest of us, there are opportunities out there. Buffet continuously researches his stocks, business holdings etc to assess for value. For myself and the associates I deal with, we have done our own research and determined right now, the health and wellness industry is the way to go. As I have stated in previous posts, more people are becoming health conscious as medical costs continue to rise. Dont think so. Governor Patterson of NY proved that point by suggesting a whopping 18% tax on NON-DIET sodas. Since obesity and diabetes are plaguing this country, why not help the state government out while getting people even more health conscious. In fact, doing that would thrust more people to this realm because not doing so comes at a physical price and now financial price.

I dont want to stretch this any further. For myself, RESIDUAL income is the answer. Getting consistent income coming in without having to exert more and more physical effort (LINEAR INCOME). Warren Buffet, John D. Rockefeller, Bill Gates, Alexander Graham Bell, Thomas Edison..all of them took hold of new concepts, trends and needs in the public and built upon them to make generational income. Buffet, he just made alot of money in so many areas its insane. Rockefeller had an oil company, developed pipeline networks stations and helped bring big oil to the U.S. Bell, came up with the telephone. From there the 1st network was born to improve personal communication throughout the world...Atlantic Telephone and Telegraph...AT&T. Edison, developed the light bulb...a network of electrical systems were then born to utilize this new invention. For myself, providing healthier options for people and creating residual income in this day in age...THAT IS THE NEXT WAVE....ITS GROWING!! I will get my check. Will you?

Business in the health and wellness industry

As we all know, health care, personal well-being etc has become of paramount concern these days. we are seeing McDonalds, KFC etc start to post calorie counts on their menus. I went to a TGIF the other day and thought "wow I did not think chicken quesedillas (SP?) had THAT many calories! I didn't even pick the meal yet!!" More and more people are looking to become healthier. Honestly, how can you avoid it. Nearly every day there is some study coming out that says perhaps breathing might cause a 6th finger to grow on your right hand...only on leap years of course.

All kidding aside, I see every day the struggles many people have, especially those who are older. I recently had a client at my pharmacy beg us to send her all her medications for free because her insurance canceled her coverage prematurely. Being unhealthy is becoming more of a financial issue these days than ever before. As mentioned in a prior post, the baby boomers are about to retire and REALLY put a hit on the system.

So now we are seeing more ads and health products, more advice and tips to staying healthy. As a result, the health and wellness industry has and is coming close to, if it has not already, a trillion dollar industry! Who would have thought Coca Cola would start to make more money on their water line than soda. Snapple has revamped their product lines to include healthy juices that have excellent fruits, such as the Noni fruit, in them to promote better health.

Here is a great example of how a popular company in the health and wellness sector is STILL doing well, even in today's tough economic climate. 2 days ago, an expert was interviewed on Bloomberg radio discussing some of his thoughts on some stocks he still likes. The one he chose 1st, Colgate. Obviously the stock was down, 23% from what was quoted that day, but nowhere near where the levels of many others were at. When he gave his reasoning why...They deal with products in personal care and well-being which even in down markets, most people will not lose sight of. Even if times are tough, I am still going to brush my teeth! Also, they have a VERY strong brand.

Here is another example that highlights the point. According to the December issue of Home Business magazine, one choice in a home based business is with a company called Take Shape For Life. (Please note, I am NOT endorsing any one particular company over another..just brings home the point) They apparently "provide nutritional intervention and non-drug therapies for weight and disease management."

I think this highlights my point. Since I am already a pharmacist and running my own home based business in the health arena, this is the area I am most familiar with. I would recommend to anyone out there though to read magazines such as Home Business,
Entrepreneur Magazine. I believe Smart Money has a similar magazine..unsure of the name though. I think the more we all read about different alternatives to business and finances, the more informed and capable we become in managing and obtaining wealth.

From Production to Consumption

Perhaps some of you have heard people in the media talking about our nation becoming more of a consumer nation than a producer nation. So you might ask "what does that mean?" You might even ask why I would even bring up such a question or why does it matter.

Well lets see, we had record job losses in the month of November 2008 to the tune of 533,000 jobs, greater than analyst estimates. I just heard on the news just today that Sony is laying off 16,000 workers AND is planning to outsource the jobs to save an estimated 1.1 billion. Hmmm, sounds to mean like for those 16,000 they will no longer be able to PRODUCE anything, simply consume. That of course depends upon them getting a job. Will their skill sets offer them a chance to get yet ANOTHER job. Can they earn the same money doing something else? will any of them pursue a business of their own?

Here is where it gets interesting. If most of the companies we have here are more interested in taking the available jobs in this country and just give it away to other countries like Taiwan, India, Pakistan etc....what will be left for YOU...or for the 533,000 that are now out of work. If your skill set trained you to work for a job that is now not only not in your state, but in your COUNTRY....What is your PLAN B?

I work in the health care field. Whats funny about this field is that SO many of the people I speak to are just....comfortable. Yes health care is still an area where there will always be need. The way I see it is that if a bad economy, a credit crunch, failing housing market can impact the country as a whole, waiting around is NOT what anyone should do. It will only be a matter of time before something starts to threaten this area to. In fact, something will. According to what I have read, by the year 2010, just a year away, the 1st 83 million baby boomers will be hitting retirement age. If they can afford to or not, a great deal of them will start to strain the medical system and social security as we have all known it would. What will the government do then? If you thought Social Security would be there when YOU retire...THINK AGAIN!! Will the government GIVE you a bailout for your financial troubles? Will you have money to afford health care? I wont belabor the point.

As this country and the businesses therein continue to give our jobs away to make or save more money, where will you be? Can you develop a new skill set to work for yet ANOTHER job. Will you WAIT till the government decides to help you? Do you STILL think you are ENTITLED to anything other than your personal rights??? It is time to TAKE ACTION for yourself.

Why do I want to help people?

This is a good question? Once I started surrounding myself with those who cared about improving their financial picture, I started to open my eyes even more to the world of business. I started reading more and SEEING more.

At this point I am beginning to see what many already know but fail to change. That is that MANY of us stay in a comfort zone and don't really get out there and learn more about money. Here is a good example. From what I have gathered, investing in mutual funds/401k's is something MOST of us do. However, a large majority of the rich move to other investments first and incorporate that later, or perhaps not at all. WHY? Well, these are people that have obtained information and knowledge about business and the sectors they chose to be in. Most of us dont pursue that knowledge so we opt to have others do it for us. Please don't misinterpret my words. I am NOT saying mutual funds or 401k's are something to avoid. All investments have their place. I am simply highlighting that the rich dont isolate their investments to this area. Most of the middle class does though. We must try to emulate the rich and diversify the FORMS of our investments.

So where do I fit in? Well, I got involved with a group of people that are helping to teach others about financial concepts and get people thinking. we have helped people get into business for themselves. Now I believe there are those that have the qualities within them to succeed. What they lack is the information, motivation in some cases, and a VEHICLE. What I am looking to do is to keep learning and to also pass on knowledge to others so they can be empowered to improve their circumstances with a vehicle. The vehicle can be anything. If you chose to open a franchise, a restaurant, whatever, at least you have positioned yourself to having a better lifestyle. Granted right now it does not seem that way. However, as of today's news, would you rather have a business of your own or be one of the 533,000 people that were laid this month? I want to be a conduit of change and hope to those I meet.

Can you afford College for your kids?

I graduated from St Johns University in 1998. Back then, the University was still considered one of the most affordable private universities in NY. Who knows where it stands today.

Well, I was on my way to work today and listening to the news on the radio. Apparently an independent agency went out and surveyed colleges in all 50 states to assess the level of affordability for the typical American household. They completed the study. Of all 50 states ONE state got a passing grade at C-. That was California. The remaining 49 failed. According to the report, sending someone to college today would require 41% of the household money to achieve!!! WOW!

Last time I checked, I think a decent bank wont lend out money for your mortgage if your debt to income ratio is at or above 35%. So if BEFORE your mortgage your at 25 or 30%, take on the mortgage. Then try and FIND 41% more money! I dont see how the math adds up. Where would I find it? Where would anyone?

My co-worker, a part time pharmacist who is married to a man who owns his own pharmacy just told me last week that if the financial problems continue, she is going to have to have a talk with her younger daughter and tell her that certain options she wont be to take. That is a hard thing to do and an unfortunate reality for most now.

I am positioning myself in a home business now that has the potential to provide great residual income for myself and family. I want MY children, the families I help to be able to afford to give their kids the choices they want and should have. My advice: DONT WAIT FOR A BAILOUT!

Plan B

According to the news of late, the economy has officially been in a recession since December of 2007. It was also stated that it will be a few years before housing prices and value goes back up. In fact it was stated on the news that your house, for the immediate future, should just be looked at as a place to live.

Whats interesting to note is that when you look at what is classified as peoples number investment and vehicle, its their home. Well, this economy has pretty taken that right out of the picture. Unless you had a long standing and existing HELOC on your house that you could use for emergency expenses, or other investments, for most they dont have a source of money with which to invest. Since most of the United States does NOT save their money, it would be safe to say most dont have anything to fall back on.

For me, I have begun a home based business of my own. It offers tax advantages just like other business models. I dont have employees to concern myself with, minimal overhead, no unions...NONE of that. I am working on my Plan B. If you are reading this, what is YOUR Plan B. Can you fly to Washington and ask for a bailout..perhaps give them a plan of much you plan to save? Maybe the bank wont ask for their money, or your cell phone bill will stop for a while. That is all Residual Debt. We ALL have it.

The key is finding options to provide residual INCOME for yourself and family. I myself would rather take a chance at this or something than wait for my house of cards to fall around me. I am educating myself for SUCCESS NOW.