How to Supercharge yourself to Your Financial Success

People are constantly looking for ways to achieve financial success more easily in their life. Over the years, more and more strategies have been developed to help people to achieve their financial dreams. If you are reading this right now, I believe that you are in your journey to your financial success, and you would like to learn how you can supercharge yourself to your financial success.

Have you ever wondered why Bill Gates can be so rich? Or why Warren Buffett is so professional in investing? Take sports stars for example now, why Tiger Woods is so great in golfing and why Michael Jordan can score so high in basketball? The answer is obvious; it is because they have a burning passion in what they do. That is why they are the pro in their field.

So the rule number one to supercharge yourself to your financial success is this, you have to do what you love. Only by doing what you love, money will come to you. Why? This is because when you are doing something you love, you will somehow come out with all the motivation and energy to get things done. If you are interested in computer gaming, you will feel excited and energize to have another set of game even if it is 3am in the morning. The same if you like to play golf. You won’t feel lazy to wake up early in the morning just to have a few swings of your golf games.

So you see, in order to have all the energy to supercharge you to success, you need to do something you love. As for financial success, you have to be in the business that you love doing. If you love dogs, setting up an online business that teaches people how to train their dogs will be suitable for you. You will have all the drive to get the job done, because you love to do it.

This is the number one secret to success. For most people, they hate their job. And because of this, they will never create any amazing result in their job or their career. Think about it, when you hate to do something, will you do it with 100 percent commitment? That is impossible. So first thing first, find out what you really love to do, and do it, then find a way to monetize it.

One more thing about achieving financial success is this; it is not an easy task. However, you can make it as fun as possible. Do you think that for Warren Buffett, reading financial reports of a company is a mundane and a tedious work? What about Donald Trump? Do you think that he feels tired doing all the business deals? For them, it is not work and it is not something that boring. For them, it is a game, they love to do it so much and they will do it for free, without asking for any return.

When you love to do something so much, it is not a work for you anymore. Rather, your work will seem like a game for you, and you enjoy doing it. This is where all the energy and motivation will come automatically. This is how you can supercharge yourself to your financial success.

This article is written by Shawn Lim, someone who constantly pursue wealth and success in life. You can visit his blog here for more success and wealth creation tips.


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State of Florida – is There Any Way to Avoid a Financial Collapse?

The State of Florida’s financial situation has never been more serious than it is today.

With a projected budget deficit of $2.3 billion, the State of Florida is one of eight states where a deficit of over $1 billion is expected. The budget shortfall is being blamed on everything from lower collections on documentary stamp taxes from a slumping real estate market to reduced sales taxes on the sale of automobiles. Dramatic reductions in tourism, consumer spending, and corporate income have all led to lower sales and corporate taxes. And in particular, for the first time in decades there are fewer newcomers entering the state.

Florida property taxes are still extremely high. Voters have seen little relief from Amendment 1 passed earlier this year. While taxable home values have come down due to the collapse of the Florida real estate market, this has been more than offset by higher tax rates and an increase in taxes that are not based on the value of the home. The net result is that Floridians still face staggering Florida Property tax bills – even in a depressed real estate market.

Florida homeowners insurance is still expensive and hard to find. Legislation passed in 2007 put much of the risk of a major Florida hurricane on the backs of Florida taxpayers. The Florida Hurricane Catastrophe Fund offered cheap reinsurance to insurance companies in exchange for taking on $12 billion in additional risk. Now the Cat fund says that it doesn’t have the borrowing capacity to meet its obligations – estimating a possible shortfall of up to $15 billion.

The State of Florida was so concerned about the inability of the Cat fund to raise money to cover a major hurricane earlier this year that it paid Warren Buffett’s Berkshire Hathaway Company $224 million. In return, Buffett’s company guaranteed that the state would be able to raise $4 billion in bond debt if a major hurricane produced enough damage to trigger the Cat fund.

The situation at the state run insurance company in Florida – Citizens Property Insurance Corporation isn’t much better. Citizens Property Insurance has some of the highest risk homes in Florida and doesn’t collect enough in premiums for the risk that it takes. It has $433 billion of property exposure on its books with a $4 billion surplus on hand to pay claims.

Policyholders of Citizens face two issues. First there is the risk that Citizens can’t meet its primary claim obligations for lower level storms because of its own trouble raising cash in the bond market. Second, once losses reach a certain level, Citizens will look to the Cat fund for reimbursement after a series of major Florida storms – a fund that just might not have the cash needed by Citizens.

While all of these developments in Florida are serious, there is really nothing new about a government that doesn’t live within its means and takes on obligations that it doesn’t have the cash on hand to meet.

What is new and should send shockwaves across Florida is the fact that the state cannot borrow in today’s bond markets the way it has been able to in the past. In effect, the State of Florida has maxed out its credit card.

Why is it so hard for states like Florida to borrow in the current bond markets?

Issuing bonds used to be easy for state and local governments. The process was straight forward, and very few people paid any attention to it. That’s changed since the failure of the subprime mortgage market.

Despite a very low bond default rate, it is very difficult to attract bond investors these days. Companies that used to insure new bond issues have had their ratings downgraded. That’s made the bond market less liquid and less attractive to investors. And it makes states like Florida have to offer higher payments for interest and principal in order to sell out a bond issue.

With severe revenue shortages and a frozen bond market all Floridians should be demanding that the state keep tightening its belt. That process is already underway. But you should also expect strong resistance to spending cuts from those who believe that there is no such thing as too much government.

These groups will demand that Florida lawmakers increase taxes rather than making additional cuts in spending. Don’t underestimate where this could lead. Many items that are currently exempt from Florida sales tax could suddenly be taxable in this crisis environment. Expanding the sales tax could lead to new taxes on everything from Internet sales to various types of consulting services. All of which would dramatically increase our own cost of living and make it that much harder for Florida to emerge from this recession.

And never underestimate the chance that Florida lawmakers will deal the final death blow to the state – instituting a state income tax.

It is up to all of us to make sure that never happens!

If there is one lesson that all governments need to learn during the current financial crisis it is this – there is nothing wrong with the “pay as you go” system. It will always stand the test of time no matter how shaky the bond markets are.

Michael Letcher is licensed Certified Public Accountant and a former executive with Bank of America and W.R. Grace. Florida residents use his on line database to find alternatives to Citizens Property Insurance for their home insurance in Florida. Subscribe to his free monthly newsletter and get the truth about Citizens Property Insurance by visiting => http://www.homeinsurancebuyers.org

The Best Investment Advice I Ever Received: Priceless Wisdom from Warren Buffett, Jim Cramer, Suze Orman, Steve Forbes, and Dozens of Other Top Financial Experts

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The Best Investment Advice I Ever Received: Priceless Wisdom from Warren Buffett, Jim Cramer, Suze Orman, Steve Forbes, and Dozens of Other Top Financial Experts

Warren Buffett and the Interpretation of Financial Statements: The Search for the Company with a Durable Competitive Advantage

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With an insider’s view of the mind of the master, Mary Buffett and David Clark have written a simple guide for reading financial statements from Warren Buffett’s succccessful perspective.Buffett and Clark clearly outline Warren Buffett’s strategies in a way that will appeal to newcomers and seasoned Buffettologists alike. Inspired by the seminal work of Buffett’s mentor, Benjamin Graham (The Interpretation of Financial Statements, 1937), this book presents Bu… More >>

Warren Buffett and the Interpretation of Financial Statements: The Search for the Company with a Durable Competitive Advantage