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The V2MOM program took five of Tony’s questions: 1. What do I really want? (Vision.) 2. What is important about it? (Values.) 3. How will I get it? (Methods.) 4. What is preventing me from having it? (Obstacles.) 5. How will I know I am successful? (Measurements.)
The secret to wealth is simple: Find a way to do more for others than anyone else does. Become more valuable. Do more. Give more. Be more. Serve more.
225,000 people have died “iatrogenic deaths” in the past year. According to the Journal of the American Medical Association (JAMA), it’s the third largest cause of death in the United States. Iatrogenic. How’s that for a hundred-dollar word? It sounds important, but what does it even mean? Is it a rare tropical disease? A genetic mutation? No, iatrogenic actually refers to an inadvertent death caused by a doctor, or a hospital, or an incorrect or unnecessary medical procedure.
if you won’t give a dime out of a dollar, you won’t give $1 million out of $10 million. The time to give is now! When I had nothing, I began this process. The reward is that if you give, even at the times when you think you have very little, you’ll teach your brain that there is more than enough. You can leave scarcity behind and move toward a world of abundance.
There’s a 50% chance that, among married couples, at least one spouse will live to the age of 92 and a 25% chance that one will live to
Fifty years ago, the average retirement was 12 years. Someone retiring today at age 65 is expected to live to 85 or longer. That’s 20-plus years of retirement. And that’s the average. Many will live longer and have 30 years of retirement! It is not realistic to finance a 30-year retirement with 30 years of work. You can’t expect to put 10% of your income aside and then finance a retirement that’s just as long. —JOHN SHOVEN, Stanford University professor of economics
Nearly half of all individuals who earn $750,000 per year or more say they will never retire, or if they do, the earliest they would consider it is age 70.
here’s a statistic that will blow your mind: the average American household spends $1,000 a year on lotteries.
we’re not about to earn our way to wealth. That’s a mistake millions of Americans make. We think that if we work harder, smarter, longer, we’ll achieve our financial dreams, but our paycheck alone—no matter how big—isn’t the answer.
our earned income will never bridge the gap between where we are and where we really want to be. Because earned income can never compare to the power of compounding!
No one would have remembered the Good Samaritan if he’d only had good intentions. He had money as well. —MARGARET THATCHER
In January 2008 Buffett made a $1 million wager against New York–based Protégé Partners, with the winnings going to charity. The bet? Can Protégé pick five top hedge fund managers who will collectively beat the S&P 500 index over a ten-year period? As of February 2014, the S&P 500 is up 43.8%, while the five hedge funds are up 12.5%. There are still a few years left, but the lead looks like the world’s fastest man, Usain Bolt, running against a pack of Boy Scouts. (Note: for those unfamiliar with what a hedge fund is, it is essentially a private “closed-door” fund for only high-net-worth
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If you can find a way to create value—that is, add value for a massive number of people—you will have an opportunity to have a massive amount of economic abundance in your life.
You can’t manage your health if you can’t measure it. And the same goes for your finances. You can’t reach your financial
It takes as much energy to wish as it does to plan. —ELEANOR ROOSEVELT
“How do you truly become more valuable? Learn to work harder on yourself than you do on your job.
If you put all your money into the US stock market at the beginning of 2000, you got killed. One dollar invested in the S&P 500 on December 31, 1999, was worth 90 cents by the end of 2009.
I just put $30 million into charter schools because in charter schools the principal and teachers are accountable. As a result, a charter school run correctly gives our children a much better education than they generally get in public schools. We are a great country, but, sadly, the way we run our companies and our educational system, for the most part, is dysfunctional. I hope to use my wealth to aid me in being a force in changing this. Sadly, if we don’t, we are on the road to becoming a second-rate country or even worse.
