Vitamins for the Mind - Financial Independence
Financial Independence
by Jim Rohn
Shortly after I met my mentor he asked me, "Mr. Rohn, how much money have you saved and invested over the last six years?" And I said, "None." He then asked, "Who sold you on that plan?"
It is better to be a lender than a spender.
To become financially independent you must turn part of your income into capital; turn capital into enterprise; turn enterprise into profit; turn profit into investment; and turn investment into financial independence.
Financial independence is the ability to live from the income of your own personal resources.
If you depend on your company to take care of your retirement, your future income will be divided by five. Take care of it yourself, and you can multiply your future income by five.
I remember saying to my mentor, "If I had more money, I would have a better plan." He quickly responded, "I would suggest that if you had a better plan, you would have more money." You see, it's not the amount that counts; it's the plan that counts.
If you were to show me your current financial plan, would I get so excited by it that I would go across the country and lecture on it? If the answer is no, then here's my question: "Why not"? Why wouldn't you have a superior financial plan that is taking you to the places you want to go?
I used to say, "Things cost too much." Then my teacher straightened me out on that by saying, "The problem isn't that things cost too much. The problem is that you can't afford it." That's when I finally understood that the problem wasn't "it" – the problem was "me."
The Bible says that it is hard for a rich man to enter into the kingdom of heaven. It doesn't say that it is impossible!
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Vitamins for the Mind is a weekly sampling of original quotes, on a specific topic, taken from The Treasury of Quotes by Jim Rohn (TTOQ). TTOQ, a beautiful, burgundy hardbound book with gold foil lettering, is a collection of over 365 quotes on 60 topics gathered from Jim's personal journals, seminars and books spanning over 39 years. To order the TTOQ by Jim Rohn or Excerpts from TTOQ by Jim Rohn or Brian Tracy, please go to Jim Rohn's Online Catalog
by Jim Rohn
Shortly after I met my mentor he asked me, "Mr. Rohn, how much money have you saved and invested over the last six years?" And I said, "None." He then asked, "Who sold you on that plan?"
It is better to be a lender than a spender.
To become financially independent you must turn part of your income into capital; turn capital into enterprise; turn enterprise into profit; turn profit into investment; and turn investment into financial independence.
Financial independence is the ability to live from the income of your own personal resources.
If you depend on your company to take care of your retirement, your future income will be divided by five. Take care of it yourself, and you can multiply your future income by five.
I remember saying to my mentor, "If I had more money, I would have a better plan." He quickly responded, "I would suggest that if you had a better plan, you would have more money." You see, it's not the amount that counts; it's the plan that counts.
If you were to show me your current financial plan, would I get so excited by it that I would go across the country and lecture on it? If the answer is no, then here's my question: "Why not"? Why wouldn't you have a superior financial plan that is taking you to the places you want to go?
I used to say, "Things cost too much." Then my teacher straightened me out on that by saying, "The problem isn't that things cost too much. The problem is that you can't afford it." That's when I finally understood that the problem wasn't "it" – the problem was "me."
The Bible says that it is hard for a rich man to enter into the kingdom of heaven. It doesn't say that it is impossible!
--------------------------------------------------------
Vitamins for the Mind is a weekly sampling of original quotes, on a specific topic, taken from The Treasury of Quotes by Jim Rohn (TTOQ). TTOQ, a beautiful, burgundy hardbound book with gold foil lettering, is a collection of over 365 quotes on 60 topics gathered from Jim's personal journals, seminars and books spanning over 39 years. To order the TTOQ by Jim Rohn or Excerpts from TTOQ by Jim Rohn or Brian Tracy, please go to Jim Rohn's Online Catalog
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