by Frederick Mann
(Excerpt from WealthBooster Magazine -- Issue #212 -- February 12, 2004)
The demise of the Nova Lights programs (Pegasus, Star Game, and TMA) could provide a cause for reflection. Sometimes it's a good idea to sit back for a while, think about what happened, and what might be the best way forward.
Also, a few days ago I received an email from a teacher in California:
"...Thank you for your incredible insights, your entertaining reading, and mostly, for your devotion to freedom. Now, if I can just figure out how to get there from here! Step 1 - retire! But of course, I can't. And just this evening I printed out a four-year history of my two e-gold accounts - mostly dormant after spending around $2,000 in 2001 and receiving not a dime of it back from any of the programs I entered. Being an elementary school teacher, with no income but mine to draw on, and very limited time, is very, very difficult, for pursuing any kind of real, solid dream of personal freedom. Dare I dabble more into those precarious "HYIPs?" Dare I spend another dime? I'd probably be better off just to keep the money in my e-gold accounts as an investment of its own! Any suggestions for one such as I?Sincerely devoted to your cause, but trapped in the system,
"DC" (Teacher of Johnny)"
Following are my "Top 21 Money Win Factors." You may want to survey them, discover if you want to do anything about any of them, make a list of things to tackle, sequence them, and get going!
1. REALIZE THAT IT CAN BE DONE. It's possible to become financially independent.
2. MANAGE YOUR TIME. Without realizing it, you may be wasting a lot of time. It may be worthwhile to invest a lot of time to tackle some of the Money Win Factors. See #TL03F: How To Manage Your Time. Particularly, "The Only Thing That Makes Any Positive Difference In Your Life!"
3. A deep appreciation of the need to DO THINGS RIGHT.
4. Hormonal imbalances such as seratonin deficiency -- see #TL12: HOW TO ACHIEVE EMOTIONAL CONTROL -- check out "Mood Cure" by scrolling down to "IMPROVING DIET AND HORMONAL BALANCE."
5. It's virtually impossible for "NEGAHOLICS" to win. Get the book 'Negaholics: How to Overcome Negativity and Turn Your Life Around' by Chérie Carter-Scott, PhD. Do the test to find out if you're one of the "negaholic types." Cure yourself, if necessary.
6. Lack of quantity and/or quality of SLEEP may hamstring you. Now matter how well you think you sleep, go to a bookstore or library and read the 4-page Introduction of 'Power Sleep: The Revolutionary Program That Prepares Your Mind for Peak Performance' by Dr. James B. Maas.
7. INCREASE YOUR ENERGY. If you haven't done so, join MegaBooster. Among the back-end programs, find The Free Agent Path. Join it for free. Read and do the exercises to increase your energy. [missing file]
8. To win over the long run, you must become UNSTOPPABLE. Get the book 'Unstoppable: 45 Powerful Stories of Perseverance and Triumph from People Just Like You' by Cynthia Kersey.
9. Maybe most people (possibly 90%+) are severely handicapped by SUBCONSCIOUS PROGRAMMING that makes it virtually impossible for them to make money outside their jobs. The subconscious programming forces them to take foolish risks and make dumb mistakes -- Failure Scripts and Where The Rocks Are.
The best way I know of to overcome destructive subconscious programming is Idenics.
10. Many people handicap themselves with POOR THINKING SKILLS. Get the book 'The Ultimate Weight Solution: The 7 Keys to Weight Loss Freedom' by Dr. Phil McGraw. Read particularly the section on "Right Thinking." As you read, replace "weight" by "money," "wealth," or "poverty" as appropriate. (If you have both weight and money problems, you can kill two birds with one stone!)
11. If you play at a DISADVANTAGE you must lose in the long run. Have you been to Las Vegas and seen the bright lights and the big casinos? Guess who pays for all that? To win over the long run, you must do whatever is necessary for you personally to gain the ADVANTAGES that put you over the top -- see WBM#7 - The Winning Edge.
12. DAILY MONEY TRAINING. It may be appropriate for you to devote an hour or two every day to your money training. See Basic Money Skills
13. STRATEGY. For playing the stock market, "buy
and hold" is a good strategy most of the time
for most players. For HYIPs (High Yield Income
Programs) [DTF note: aka ponzi-scams!], "buy and hold" is always a
disastrous strategy. With HYIPs you need to
apply these strategies:
(a) "Get in Early" -- often only the early birds
win big.
(b) "Hit and Run" -- risk a small percentage
of your capital; recover your capital as soon
as possible; leave some money to ride the program
for a month or two; then take out whatever you
can before the program fails.
(c) "Stick Around Carefully" -- risk a small
percentage of your capital; recover your capital
as soon as possible; leave some money to ride the
program for as long as it lasts.
(d) "Stick Around Aggressively" -- risk a small
percentage of your capital; recover your capital
as soon as possible; periodically re-invest some
of your profits to ride the program with a gradually
increasing amount for as long as it lasts.
(e) "Run from Red Flags" -- be very alert to notice
red flags (warning signals), such as changing the
rules, adding "special deals," etc. When a program
spits out danger signals, run with as much money
as you can!
(f) "Find New Winners" -- diversify some of your
profits into new programs. The chances are high
that all the "great programs" you're now in will
eventually fail!
14. "GAMBLER'S RUIN" -- putting too much of your money in any one program -- see Money Skill #24: Risk and money management.
15. GETTING CARRIED AWAY by a particular program. You put some money in a program like Pegasus. You get paid day after day for month after month. So you decide (maybe subconsciously) that this is a good thing that will last forever. And you switch to the 100% compounding option. About a month ago, a friend called me saying that he'd let his money compound in Pegasus and the capital amount was now so big that if he switched back to daily payouts he would receive $160 every day!
[DTF note: all these scam "programs" inevitably fail and you lose everything in them. What's even worse is when people become overconfident (perhaps also deceived by unsubstantiated numbers increasing in their fake "account"), then they make large additions of capital, after which the "program" disappears.]
16. TAKING "CASH OFF THE TABLE" -- WBM#65: Playing the Odds. My friend, above, didn't take his cash off the table, so he lost it all.
17. Eliminate MONEY DRAINS from your life, or at least reduce them. Money drains can be taxes, mortgage payments, unnecessary expenditures, etc.
18. GENERAL MONEY STRATEGY. It may be worthwhile for you to formulate a General Money Strategy for your life. It may be worth reading and updating it regularly.
19. PATH OF LEAST RESISTANCE. Part of your General Strategy could be to organize your life so the "path of least resistance" automatically takes you to your desired destination -- Study and apply the book 'The Path of Least Resistance' by Robert Fritz. See also my article "The Path of Least Resistance"
20. IMPROVE YOUR DECISION-MAKING SKILLS. See #TL03G: How To Make Great Decisions
21. SELF-DISCIPLINE. It takes great self-discipline to make rational money decisions. Emotions like FEAR and GREED can sabotage your success. Depending on where you are in terms of personal development, a great deal of self-disciplined effort my be necessary for you to advance to a level that makes success possible. Get the book 'Take Control: Master the Art of Self-Discipline and Change Your Life Forever' by Michael A. Janke.
22. MARKETING. On the Internet, marketing boils down to using a keyboard and a mouse. You may need to use your eyes to read and learn a few things. The point is that the basic actions involved are so simple that almost anyone can do them. Becoming competent may require a great deal of trial-and-error learning. With programs that pay referral fees, you can earn much more if you sponsor others. By marketing, you can make much more money in relation to risking your own capital.
23. PERSISTENCE. Learning to market (and mastering the other Winner Factors), may require considerable persistence. Go for it... and KEEP GOING!
24. SELF-UPGRADING. We live in a world where all kinds of things are being upgraded all the time. If you don't upgrade continuously, you may get left behind. All the Money Win Factors involve self-upgrading. You may find the most powerful "General Self-Upgrading Formula" in the book 'Seven Simple Steps to Personal Freedom: An Owner's Manual for Life' by Gerry Spence.
For major personal upgrades, browse through the Build Freedom Articles, Reports, and Books Directory.
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