Monday Financial Nuggets: Earl Nightingale’s Checklists

youtube.com/watch

The above Earl Nightingale’s video has been popping up for a while. I finally watched it and what a goldmine! Please watch till the end as I believe that the platinum nuggets lie within the 5-7 final minutes of the video.

Haves and have nots. The have nots always begrudge the haves! (p.s. Tyler Perry has a series with this title. The only series that I have watched religiously in the last ten years! Love it. Check it out on OWN. You can also find various streams on YouTube.)

Why do few manage to be financially well-off in a country where success is available?


Statistics

  • 10% of men 65 years and older have income of $6,000 a year; >80% of all men >65 have income of $4,000 a year
  • Starting a career in your 20s, would mean you would have worked >40 years at retirement. Using a meagre $25,000 per year salary, (a paltry in this tech age), means you would have made >$1 million. How much of this was saved or invested?
  • Only about 10% will be financially secure when the age of 65 rolls around.

Questions to ask yourself

  • What are you doing at the present time to increase your income now?
  • How much do you want to earn?
  • How much money are you planning to be worth at age 65?

Constructive thinking on the above questions is necessary for change in how much you earn.

Big income earners made the decision to earn more. Have you? Will and when would you?

Analogies:

  • A woman who does not think about baking an apple pie for dinner tonight will not think of looking up a recipe for apple pie. Without the decision for pie, there’s no motivation for checking out the recipe. Likewise,
  • A man who does not think about driving his car to St Louis MI or Nacogdoches TX will never make the decision to get roadmaps that will help him get there. Therefore,
  • A man who never decides to earn more money will never think of learning how or looking up the rules for making more money.

Lifestyle Quotes

It’s a free country; anyone has the inalienable right to be just as wrong as they want to be!

We must view with profound respect the infinite capacity of the human mind to resist the inroads of useful knowledge. – Thomas Lounsbury

Knowledge is available to everyone. We can either listen to those qualified to teach us or we can go along with those ancient stumbling blocks we get from people who don’t know any more than we do.

. . .

A jet pilot goes over his checklist item-by-item before a takeoff from the airport and before he lands at his destination. Living successfully is just as important as flying an airplane.

. . .

Checklist

  1. Our rewards in life will always be an exact proportion to our contribution our service. (Similarly regarding JOB: The money you’re paid by the company you work for will always be in direct ratio to the need for what you do, your ability to do it, and the degree of difficulty involved in replacing you.)
  1. The gold mine. “The only thing about a man that is a man is his mind; everything else you can find in a pig or a horse.” – Archibald MacLeish. The key to any man’s success is his mind!
  • How many good ideas have you come up with in the past year?
  • Are you being a copycat or following the follower?
  • Whose drum are you marching to?
  • Do you want to be a contributor or a beneficiary?

3. Attitude. Alter your life by altering your attitudes of mind. (We become what we think about!) – Williams James

Think. Start getting up one hour earlier than you’re accustomed to. One hour earlier a day gives you 6 1/2 40-hour week a year. Take a refreshing shower, dress, have a hot cup of coffee (or tea) and then sit down with a clean sheet of paper. At the top of the paper, write your financial goal which is the amount of money per year you intend to earn soon. Then start to think; think about your goal and see how many ideas you can come up with to help you reach that goal; ideas to improve what you now do for a living, ways of increasing your contribution to match your income goal . . .

Cheers to a strategically financially you in 2021!

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