Be Wealthy & Smart

Learn what multi-millionaires talk about with their friends. Have you checked out the Creating Wealth podcast yet with Jason Hartman? It's full of amazing information and over 700 podcasts about real estate investing. If you like this podcast, you'll like that one too. http://bit.ly/wealthpod I'm on vacation with friends in Huntington Beach, CA. Saw a random post on FB about someone who wanted to hang out with people that have a higher net worth. I believe it was in regard to Jim Rohn's comment that your income is the average of the 5 people you hang out with - with a twist to net worth. It made me realize I'm here with 4 other multi-millionaires. One owned a famous blue jeans company frequently worn by celebs, one is an apartment landlord, two own many houses in at least 4 states. They have all lived near me in Palm Springs at one time or currently do. I didn't even think about our net worths consciously before I saw the post. Our conversation has been very financial this whole trip. Discussing whether or not RE is in a bubble? Looking at RE to buy, walking the best neighborhoods, getting educated about the area. Talking to a random City Council member about real estate. Shopping at Nordstrom Rack (a "Millionaire Next Door" typical move). "Once you leave Orange County, CA, you can't afford to get back in. Homes went up 30 times over." Investing choices, cities, rentals, apartments, houses, stocks, silver, art, the Federal Reserve, financial crises, bubbles, etc. These are all things we routinely discuss in the VIP Experience. You don't have to hang out with multi-millionaires, but you should be thinking about these 5 questions: 1. Do your friends have a similar net worth to yours? 2.What do you spend your time talking about? 3. Do you do investment research on an everyday consciousness basis? 4. What net worth do you want to achieve? 5. Do you allow yourself to dream and not let "reality" stop you? www.lindapjones.com

Learn how to determine whether investing in a home improvement is a good idea or not. Have you checked out the Creating Wealth podcast yet with Jason Hartman? It's full of amazing information and over 700 podcasts about real estate investing. If you like this podcast, you'll like that one too. http://bit.ly/wealthpod Linda, I have a rental house that is also our beach house. I rent it out on VRBO for extra income. I've been wanted to make some cosmetic changes and wanted to ask your advice. I like painted baseboards better than wood baseboards - should I change them? I also am thinking of replacing the carpet in the bedrooms to tile and the kitchen countertops from tile to granite or quartz. Is it worth it to make the investment? I love your podcast and listen religiously. Your advice would be greatly appreciated! Bonnie Thank you for the questions, Bonnie! When thinking about making home improvements to a rental or your primary residence, consider this: 1. Will it improve the value of the home? 2. How long will it take to make my money back (if a rental)? 3. Is it a matter of personal taste or does it appeal to most buyers? 4. Is this the best improvement I can make for the money? 5. Knowing that kitchens, bathrooms and closets sell homes, does it fit within an improvement of one of these important categories? Get "10 Quick Tips to Boost Your Wealth" at www.lindapjones.com

Learn why people who earn 6 figures don't necessarily have it made and need to save more. Have you checked out the Creating Wealth podcast yet with Jason Hartman? It's full of amazing information and over 700 podcasts about real estate investing. If you like this podcast, you'll like that one too. http://bit.ly/wealthpod "Make Six Figures? There's a Decent Chance You've Got Almost Nothing in the Bank", article by Polly Mosendz Here is the link: http://www.bloomberg.com/news/articles/2016-09-20/make-six-figures-there-s-a-decent-chance-you-ve-got-almost-nothing-in-the-bank?cmpid=BBD092016_BIZ

Learn the do's and don'ts of purchasing and storing silver. Have you checked out the Creating Wealth podcast yet with Jason Hartman? It's full of amazing information and over 700 podcasts about real estate investing. If you like this podcast, you'll like that one too. http://bit.ly/wealthpod It's listener question Friday! Dear Linda, I've been listening to your podcasts and I'm curious about how to buy silver. Do you recommend buying it online? Should I buy an ETF? Can I pay someone to store it for me? Kris I get lots of questions about silver. The most often it's why do I recommend buying silver and not gold? Where to buy it? 1. Your local dealer with a good reputation 2. Online at JMbullion.com or SDbullion.com 3. Goldmoney.com 4. PSLV 5. Not an ETF like SLV How to store it? 1. At home in a safe that is bolted to the floor 2. Not in a safety deposit box 3. Don't pay someone to store it for you 4. In a storage facility (not a bank) 5. At goldmoney.com

Learn why impulse buying of money traps is making you poorer. Have you checked out the Creating Wealth podcast yet with Jason Hartman? It's full of amazing information and over 700 podcasts about real estate investing. If you like this podcast, you'll like that one too. http://bit.ly/wealthpod Are you buying depreciating assets like boats and RV's then wondering why you don't have any money? Boats need trailers, moorage, insurance, gas, repairs, covers, motors, ski equipment, etc. RV's need gas, garage, insurance, repairs, car to tow, fees, washing, etc. The cost of the boat or RV is not it's true cost! It goes way beyond that. You've increased your monthly expenses by more than you think. Those extra thousands could be going to work for you and producing more money. If you're in your 50's or 60's, you need to pay special attention to this and get serious about saving and investing. You can build your wealth or buy these toys, but you can't do both very well. Rent instead of buy. Use it and leave the cost and headache to someone else!

Learn 7 investment strategies of centimillionaires. Have you listened to the Creating Wealth podcast with Jason Hartman? It has over 700 podcasts on real estate. If you like this podcast, you'll like that one too.http://bit.ly/wealthpod Here are the 7 Investment Strategies of Centimillionaires: 1. Own the game 2. Alpha-mail (instead of blackmail) 3. Niche monopoly 4. Work on building a full chess board portfolio 5. Leveraged resource strategy 6. Horse trading 7. Identify choke points Find links to all the books mentioned at www.lindapjones.com/centimillionaire

Learn how billionaire Sara Blakely learned to reframe to word "failure". Have you listened to the Creating Wealth podcast with Jason Hartman yet? There are over 700 podcasts about real estate. If you like this podcast, you'll like that one too. http://bit.ly/wealthpod Sara Blakely, founder of Spanx, is the youngest, female self-made billionaire in history. Learn why reframing the word "failure" helped her become successful. Want to jumpstart your wealth building? Get the free report: "10 Quick Tips to Boost Your Wealth" at www.lindapjones.com.

Learn Why Mansions Are the Result Not the Cause of Wealth Have you checked out the Creating Wealth podcast yet with Jason Hartman? It's full of amazing information and over 700 podcasts about real estate investing. If you like this podcast, you'll like that one too. http://bit.ly/wealthpod Listener question: If it is about not buying too expensive but buying smart, then why are billionaires and millionaires buying 40/50 million dollars houses, yachts, cars?? Dave Good question. I can see why it's confusing. You might think that's how they are getting rich, by buying huge mansions. The ability for the to afford a mansion came after they built their wealth, it's not the way they built their wealth. Just like athletes sometimes get huge contracts and then buy a big mansion, their athletic prowess is what made them their wealth. Or a Hollywood actor or actress buying a huge mansion. Buying a $50 million dollar house is not what made them rich. Now that they are rich, they may want to enjoy it by buying a trophy property, or they may be looking for ways to park money that is outside of the banking system, in my opinion. That was happening in Miami and NYC (Russians), Vancouver (Chinese), etc. Their are currency issues in foreign countries, so parking some money in the US is an option. That's why we are seeing crazy prices being paid. On a smaller scale, I see this happen with new money all the time. Someone had an influx of cash due to their business or job and they go out and buy a $200,000 Bentley or other car. They do it so they can show the world how successful they are. The problem with it is they have just stopped themselves from creating real wealth because if you don't understand how wealth is built and you don't understand the 6 Steps to Wealth, then you are probably oblivious to the fact they just spent their nest egg or capital that would have created wealth for them! They think their business will go on forever, and I hope it does, but with habits like that, whatever money they make won't be kept, it will be spent! No matter how many millions they make, they still have to pay taxes and they still have to invest for wealth. If they don't invest, the money won't continue compounding and it's gone! That's why professional athletes, lottery winners, and other people who inherit money have gone through it within 5 years. Spending does not equal investing. Especially spending on depreciating assets! The $200,000 spent on the car will be worth less 5 years from now. Whereas if he could have invested it at 8%, it would already have grown to almost 50% more: $293,865 or $294,000! Over 20 years, the $200k at 8% would have grown to almost $1 million! ($932,191) In 30 years, over $2 million! A person buying a $50 million mansion also already has their wealth, so if they want to use it for toys, that's up to them. For anyone starting out building wealth, it isn't the right move. You have to follow the steps that make wealth grow, understand how to compound money and not buy depreciating assets. That's why they always say the first million is the hardest! Get "10 Quick Tips to Boost Your Wealth" at www.LindaPJones.com

Learn the 1 thing that is holding you back from reaching your goals. Have you checked out the Creating Wealth podcast yet with Jason Hartman? It's full of amazing information and over 700 podcasts about real estate investing. If you like this podcast, you'll like that one too. http://bit.ly/wealthpod Recently, I was in New York City and wanted to meet a friend out by the JFK airport, about xx miles east of Manhattan. The first thing I did was get directions from my friend. She emailed me, "take the A train". I was confused already. Did she mean the "A" subway line or a real "train" from Grand Central Station I wondered? So I asked another friend. He took out his phone and opened an app of a subway map. He told me to take the number 6 subway to 14th street, change to another route and then another route. Since none of the names of the stops were familiar to me, I couldn't remember them. So the next morning I found my way to the subway and made it to 14th street, no problem. But then I got totally lost because I didn't have a map and couldn't remember where to transfer. I thought a map would be posted inside the underground hallways, but they weren't. So I had to go back through the gate and get a map from the token seller. Once I had the map, I had to figure out where to go. I identified it was the "L" train. I finally found my way and boarded it. It turned out it was a local and not an express, so it was stopping every couple of minutes. Then the train announced everyone had to disembark because it was being retired for maintenance, so I had to get off. I asked someone where to catch the express. The next train that came wasn't the one he said was the express, except it really was because apparently sometimes the wrong name is on it. So a nice stranger told me to get on that train until the next transfer point where I got off. The stranger and I got to talking. It turns out his name was Ray and he was a dancer and had been on a Talent show. He was injured. Had excuses - mom sick, 2 jobs, etc. A friend won the contest and said Ray was a better dancer. I explained the map to him. How confidence and vision work in place of a map. The point is, I never gave up or doubted that I would make it to see my friend. Why not? Because I had a map. I knew I could get from where I was to where I wanted to go because I could see it on the map! That's what's missing in your life. "Indecision is the mark of a fearful mind" - Vernon Howard Don't be waiting to start until you have the whole map! Get started and you'll find your way. Get your "10 Quick Tips to Boost Your Wealth" at www.lindapjones.com

Learn the 3 things to prioritize to keep you on a happy, healthy and wealthy path and the winner of the Twitter BW&S Wealth Journal giveaway! Have you checked out the Creating Wealth podcast yet with Jason Hartman? It's full of amazing information and over 700 podcasts about real estate investing. If you like this podcast, you'll like that one too. http://bit.ly/wealthpod 3 Things to prioritize: Faith - Honor God, Go to church or temple, meditate, do your tithing, etc. Family - Love your family Spend time with loved ones Includes health, of course Wealth - Give your wealth 30 minutes a day Check your bank accounts Review your stock portfolio Check retirement accounts See if it needs tweaks Give it attention Calculate net worth Read a book Read IBD Say affirmations or watch your Flipagram Write in Wealth Journal Today is my birthday! Time for reflection over the past year Good year Fun to be on Below Deck Mediterranean Trip to Greece On TV show Podcast - reaching 153 countries and approaching 400k listeners VIP Experience community - Connect, have people joining regularly Exciting plans for the next year - stay tuned! Want us to connect in more ways IG - posted jingle lyrics to LIFE by Beckah Shae and post content in short paragraphs on LPJ& BWS pages Twitter - giveaway Wealth Journal Winner is Chaviano - Buhager from Miami Florida! Periscope app - my escapades out and about and more! For 10 Quick Tips to Boost Your Wealth, go to www.lindapjones.com