Bo Sanchez has written a good book Abundance Formula. The formula is 100 – 70 – 20 – 10. If you just follow this simple abundance formula, then you will be set free for life. This financial blueprint is simple and straight-forward. You will never go wrong following it.
Give 100% to create income. Give your all in your job or business. Find your core gifts related to your core gifts. Your core gifts (talents) is the key to excellence in your job or business.
I have a friend of mine who is a vice president in a big multinational company. I asked her what is her secret to move up to that success.
She said, “I choose my own battle. Either I do it with such excellence and quality or I don’t do it at all.”
Work in a job that is related to your core gifts or don’t do it at all. Start a business that is related to your core gifts or don’t do it at all.
I am reminded of the picky Floyd Mayweather. He knows how to pick opponents he can beat.
If you want to be richly rewarded in the marketplace, you better be remarkable (world class). Mediocrity is neglected. Be a superstar in your field.
Live on 70%. Learn to live below your means.
Earn 100K and spend 101K every month and you will find yourself going deeper and deeper to debt. Some of our kababayans, live 200% of their income. 100% of salary + 100% in credit card = financial suicide.
At the end of the day, it is not what you earn but what you keep and invest that matters.
Put 20% on your growth fund. Use this 20% for your investments. In our case, stock market.
There are two stages in the life of people:
– You work for money
– Money works for you
The only sure way to move from first stage to the next is to set aside a regular amount to invest in profitable investment vehicle. Put it in stock market, life insurance, mutual fund or business.
Give 10% to God. You need to learn to invest in eternity. Their is beauty in tithing that unlocks blessings.
Giving your 10% teaches the real purpose of wealth – to use it to help others.
Got questions, clarifications, suggestions or comments about Truly Rich Club or about stock market? Just add them below. I’ll do my best to help you.