How To Successfully Achieve Any Goal

Goal setting involves establishing specific, measurable, achievable, realistic and time-targeted (S.M.A.R.T) goals. On a personal level, setting goals helps us work towards our own objectives—in all aspects of life (spiritual, health, family, career, business, financial-based goals etc). Goal setting is therefore an effective tool for making progress by ensuring that you are clearly aware of what you want in life. "Goals provide a sense of direction and purpose" (Goldstein, 1994, p. 96).  

Without goals, many people live life adrift thinking that life happens to them, instead of taking control and directing their lives towards a certain direction. When I was in Second Year of High School, I made a decision I wanted to become a scientist, and therefore needed to join in the university. I wrote my goal down under the cover of my every note book in school. I studied hard despite being in a "not well performing secondary school". I went out of my way, learning ahead of the teachers to finish the syllabus especially for sciences and mathematics, as the system never used to cover the syllabus. Come the National 4th Year Examination, I passed, and was granted a government scholarship to study in one of the Kenyan public university. That time, there was no parallel-degree programs offered in the four public universities in the country. There was only few very-expensive private universities. So, if you came from a peasant background and didn't make it to the cut-off mark, you were basically locked out of the tertiary education system. 

As I write this post, I am scheduled to defend my PhD by the end of next month. I think that attaining a PhD is a peak in my career advancement, which has set me on a path of becoming a great scientist.

That is the power of goal setting. It starts with knowing what you want. Once you know what you want, realise that God has already given you the ability to become, attain, achieve, acquire that. A person with a goal is quickly able to identify opportunities when they come his way. "Goal setting capitalize on the human brain's amazing powers: Our brains are problem-solving, goal-achieving machines. "Napoleon Hill said "Whatever the mind can conceive, and believe, the mind can achieve". 

"Goals convert the strategic objectives into specific performance targets. Effective goals clearly state what, when, and who and are specifically measurable." 

On the side, my wife and I have been pursuing another goal: To promote Financial Education for Poverty Eradication in Africa (reason behind this blog and facebook page), alongside another personal goal: To create a total of X USD in passive income per month that can give me the lifestyle I want even without working by the age of forty five. This means, once I achieve this goal, I can retire the following day, if I want to. Do you get my meaning?

As you watch the video below, let me ask you, what are your life goals?

Download a FREE on How to Successfully Achieve Any Goal.pdf courtesy Personal Excellence.

In the next post, we shall look at "That Millionaire next door".

How To Prepare A Personal Balance Sheet (Networth Statement)

A Personal balance sheet, also called a net worth statement or statement of financial position, reports what you or reports what you or your family owns and owes. This statement provides a summary of assets and liabilities that one has at a particular time. So, whenever you want to find the state of your finances, this statement will give you an answer. It will tell you whether you are doing good or bad.

This is how you go about preparing a personal balance sheet:

Step 1: List What You Own (Assets)

Do you have anything of value? List it here. Cash (at hand and in the bank) combined with other items of value are the foundation of your current financial position. Assets can be grouped into four:

• Liquid assets

These are cash and items of value that can easily be converted to cash. Money in current and savings accounts is liquid and available for current spending. Surrender value of some insurance products such as endowment assurance policies can be borrowed if needed.

• Real Estate

Includes a home, rental buildings, or a piece of land that a person or family owns. The current value (also referred to as market value) of these properties needs to be determined by qualified Property Valuers or Appraisers.

• Investment assets

These include investments such as stocks, unit trusts, bonds, treasury bills, and any business you own. Since investment assets usually fluctuate in value, the amounts listed should reflect their value at the time the balance sheet is prepared.

• Personal possessions

Motor vehicles and other personal belongings such as furniture, home appliances are in this category. While these items have value, they may be difficult to convert to cash. They can be listed in the balance sheet at their original cost. However, their values need to be revised over time, since a three year old car, for example, is worth less now than when it was new. Some other personal items might increase in value such as rare jewelry thus you may wish to list such items at their current value.

Step 2: Determine Amounts Owed (Liabilities)

Liabilities are amounts owed to others but do not include items not yet due, such as next month’s rent. Liability is a debt you owe now, not something you may owe in the future. Liabilities fall into two categories:

• Current liabilities

These debts must be paid within a short time, usually less than a year and includes items such as utility bills, medical bills, insurance premiums, school fees arrears, cash loans and credit card payments.

• Long-term liabilities

These debts are usually paid in full until a year later. Common long-term liabilities include auto-loans, educational loans, and mortgage.

Step 3: Calculate Net Worth

A net worth is the difference between total assets and total liabilities and it provides a measurement of your current financial position. Net worth is the amount you would have if all assets were sold for the listed values and all debts were paid in full.

Two things you should know about Net worth:

1.     If the total value of assets is larger than the total value of liabilities, you will have a positive net worth. However, your net worth is not money available for use but an indication of your financial position on a given date.

You can increase your net worth by:

§  Increasing your savings.

§  Reducing your spending.

§  Increasing the value of investments and other possessions.

§  Reducing amounts you owe by paying off your debts.

Please do understand that you may have a positive net worth and still have financial difficulties. Having many assets with low liquidity means you do not having the cash available to pay current expenses.

2.     If the total value of liabilities is larger than the total value of assets, you will have negative net worth which means you are unable to pay your debts when they are due.

I believe you can now prepare your personal balance sheet. Most personal finance management software’s (e.g. budgetpulse.com) has an integrated net worth function. Make it fun to discover how much you are worth. If you find you are positive, great, focus to increase your net worth. If you find out you are under water, do not despair. Set a goal to get out of debt and improve your financial health.

Our next post will look at setting goals.

Budgeting - How To Manage Your Finances With A Spending Plan

Personal budgeting is about managing your finances through a spending plan. It is one of the effective ways of achieving your financial goals and dealing with most of your money problems. Do you sometimes wonder where your whole income has disappeared to even before mid-month? Or some days you leave for work in the morning with some cash and in the evening your wallet or purse is empty. You have no clue as to where your money has disappeared to. You just don't want to admit you squandered it. Or, someone just borrowed you for ‘not so urgent needs’ and you gave it, because for you, it is just money, and not so valuable.

Likewise, do you get frustrated by your inability to achieve your financial goals because you can't find money to get to it? No matter your good intentions to set aside some money every month towards savings, you always find yourself with nothing. Probably your expenses are higher than your income, meaning that you are living above your means, and simultaneously accumulating debt (the money has to come from somewhere to fill in the gap). You need to start using a monthly budget (spending plan) and you will be amazed on its power to help you live within your means. Likewise, you need to find ways to make more money, if what you earn is not enough to take you round the month. Note, there is no income that is so small that it cannot be budgeted for.

The main purpose of preparing a spending plan is to help you:

• Live within your income.
• Stay out or get out of debt.
• Spend your money wisely.
• Reach your set financial goals.
• Prepare for financial emergencies.
• Develop wise financial management habits.

Steps To Preparing A Personal Budget

A personal budget means matching the income one gets with the expenses, in order to reach the financial goals set in advance. Preparing a budget is not that difficult, but still it could become a hassle. Try to make it as simple and as easy as possible, and you will find the personal budget a great tool for keeping your finances under control.

Step 1: List And Total Your Monthly Net Income

Total up every net income you receive in a month. The income should include all of the resources, such as monthly salary, earnings from interest, earnings from rent, business income etc. Bonuses, gifts, or unexpected income should not be considered until the money is actually received. It's better to have money left over than be caught not being able to pay your bills because you factored in money that you weren't sure you'll receive. My wife and I personally use such out-of normal month income towards building our emergency fund.

Step 2: List And Total Your Current Monthly Personal Expenses

The expenses should include all spending - purchases, monthly bills, insurance, hospital bills, savings etc' List all your monthly expenses as they are now. Include also weekly, quarterly, semi-annually and annually expenses. Do not forget discretionary expenses such as Books, Magazines, Entertainment, Impulse purchases, Snacks, Dining, Vacation and Travel and Membership fees. You can know how much to allocate these if you track your expenses for several months, and then use the average as a guide.

Step 3: Subtract Your Current Expenses From Your Current Income

Take the total current expenses and subtract the sum from the total current net income. If, on paper, you have money left over but in reality you are living close to the edge or falling behind, then you have not accounted for everything or some of your figures are wrong. Examine your budget for inaccuracies and make corrections. Use of a budgeting software like dsbudget can help a lot. I personally prefer a software that is web-based like budgetpulse.com, so that I can upload data wherever I am (including on the go using mobile phone).

Step 4: Identify Where To Make Changes In Your Budget

Once you have an accurate idea of where all of your money is currently going it is time to make changes for the future especially if there is more going out than is coming in. Your options include increasing your income, decreasing your expenses by simplifying your life, or a combination of the two.

As you prepare and make the changes in your budget, do not forget to include money for your financial freedom account (FFA), or purse fattening account (PFA), creating an emergency fund, paying for personal loans and credit card debts, insurance premiums and retirement. After you are through matching your income and expenses, monitor your progress every month.

Our next post will look at personal balance sheeting.

Three important Tools of Personal Finance

To achieve financial independence and freedom as outlined in our previous posts, it is crucial to learn 3 key tools and apply them all in harmony in your day to day life. These are:

1. Budget – spend less than you make, so that you can save more. Invest your savings in assets to get you more income;
2. Balance sheet – own more than you owe. Learn and understand the difference between assets and Liabilities. This is important key for your cash flow (income); and
3. Life plan – know what you want, what are your life goals. Write them down; make plans how to get it. Focus and act inspire of fear or circumstances (that is called faith). Remember you aim at nothing and you will achieve it. The contrary is also true.

Our upcoming posts will detail these 3 tools, and give practical examples of how you can apply them to your life.

Personal Financial Management Part 2

Part 2 (Continued from Part 1)

More on passive income:

• Money working for you - Investment earnings from financial instruments (stocks, bonds, T-bills, money markets, mutual funds, owning mortgages and other assets that can be liquidated for cash
• Business working for you – Generating income from businesses where you do not have to be personally involved (rental real estate, network marketing (e.g. Forever Living Products among others), royalties (e.g. books and music), licensing your ideas, becoming a franchisor, owning storage units, coin operated machines i.e. any business that is systematized to work without you.

Without savings, it impossible to invest, and opportunities come and pass (Ecc. 9:11). Even if you are going to leverage funds, most financiers require you first put down your commitment (e.g. 30 %) before they can lend to you. So, despite the amount involved, it is good to develop this habit. Open a separate bank account (Let's call it Purse Fattening Account (PFA) or Financial Freedom Account - FFA) and put there at least 10% of all money you receive (wage, gift or whatever income). This money can only be invested, never spent! For a Christian, it is good to tithe (also 10 %) as worship to God, for his work and to support the Great commission (Mal. 3:8), meaning you have only 80 % to live on. This means you have to simplify your life by living below your means. The more you can save in the PFA/FFA account e.g. 30 % instead of 10 %, the more funds you will have to invest (Ecc. 11:2). If you are in debt, 20 % should go to repaying debts, and never at the expense of the 10 % supposed to go to PFA/FFA. Getting out of debt is not easy and often requires a fight, but the freedom that comes with it is so worth it (Ps 37:21; Prov. 22:7). Mortgage payment should not exceed 35 % of your income. Budget Allocations – Depends on individual, it is up to you to customize to your situation. But do not compromise. Remember, the habit is more important than the amount.

How we have been Programmed/Conditioned in life about money determines how we think. How we Think, determines how we Feel, Act and thus the Results we get. In other words, the Roots determine the Fruits in a cause and effect relationship. The Fruits are the financial situations we find ourselves in.

God has given every one of us potential at birth in the mind to create, manage and grow things that you desire - including wealth. We exist in 3 forms [Spirit, Soul (mind) and Body]. Before you can achieve anything in the physical world, you have to design and create it in the mind. Spiritually speaking, God has already blessed us with all that we need to succeed in life in the Spirit, and it takes faith (James 2:17) to get these things to manifest in the physical, i.e. praying and acting in faith in God the Creator, The Master Designer, The Intelligent Being! But do not be cheated, God will not do things that man (yourself) are supposed to do. He (God) is rather waiting on you to change your attitude, think and act by faith in spite of fear or the appearance of the situation, and you will get the results you desire. But, if you keep mismanaging your finances with a Spenders motto of “It is only money” and “What goes round comes round”, choosing immediate gratification instead of long-term balance and same time keep on praying, trusting and waiting on God for financial breakthrough, I can tell you without a doubt, you will wait forever. This is where most Christians are mistaken and no wonder many are ignorant, because they lack understanding of God's principles (Hos. 4:6). God do not contradict his word. Miracles happen where the ability of man reaches limit. So do not sit and wait for God to budget your income, track your expenses and balance your books. You have to do it yourself. If you lack wisdom, ask him (James 1:5). Note that, wisdom is application of knowledge, with understanding (Prov. 4:4-9). 

We are creatures of habit. The habit of managing money is more important that the amount (Luke 16:10). So, one should be disciplined and persistent with the above plan and percentages despite the amount. Do not compromise even with 100 Euros/Shillings - put 10 Euros/Shillings to your PFA/FFA. If only you saved and invested at least 10% of all the money you received over the last 1 month? What of the past year, decade? Do the Maths yourself!

Nowadays we have technology like M-SHWARI (mobile saving and credit), M-PESA (mobile money transfer) and M-KESHO (mobile banking) in Kenya for example which we can utilise to make our financial management more efficient. We can also utilise free software like Excel templates, dsBudget and Budgetpulse.com among others.

Where attention goes, the energy flows and the results shows. Focus on the four factors of Net worth: Income, Savings, Investing, and Simplification. Learn, Act and you will get Results.

Do not risk your principal, invest it in secure places under the wise council of those who are wise in handling money (Prov. 21:5; 15:22), and not the allure of tricksters in get-rich quick schemes or establishing a business you are not skilled in.

Money is a big part of life, and when you learn how to get your finances under control, all areas of your life will soar - confidence, happiness, relationships and even health. Either you control money, or it will control you.

Learn how to budget your income and track your expenses. This is fun for an individual and for a couple. Discussing finances openly as couples, making it fun tracking your net worth and strategising on how to minimise expenses, increase savings, where to invest so as to maximise your passive income enhances your communication and your relationship flourish. Many marriages are breaking because of financial disagreements. Two cannot walk together unless they agree (Amos 3:3). Harmonise your goals and strategise how to achieve them. Be accountable to each other. You will be surprised how much you can achieve in one year together (Ecc. 4:9) when you start doing things following these principles. 

Above all, put your trust in God who gave you life, health and strength, and trust him to supply all your needs (Phil. 4:19; Matt. 6:33). Do your part, prepare your land for the rain and plant your seeds on time, then leave the rest to him!

In the next post, we shall look at the three important tools of personal finance. 

Personal Financial Management Part 1

Part 1: 

The other day (Sunday, 26^th August 2012) my husband was speaking at church here in Gent about 'Financial Stewardship'. His key scripture was Matt 25:14-30 NIV, The parable of the Talents. This is deep in our hearts, to see people manage their finances properly. He was telling the listeners, 'Our money is really not our own. We are merely stewards of what we have been given by God. We have the priveledge of being stewards, like for all other resources we have received (time, relationships, health, intellect etc), which calls for responsibility. When you are slack or wasteful with your money, it is not your money you are wasting, but Gods. In so doing, you waste your life. Why work so hard, sweat your strength out, earn, only to spend the income (the seeds) buying liabilities and luxuries (riches): Bigger TVs, Smarter mobile phones, better cars etc, chasing the tech-wind?’ These only impoverish you, so you become poorer and have to keep on working. BTW the moment you touch it, it is used (second-hand) so the resale value plummets!

Instead, one should buy assets - things that makes you wealthy like real estate (land, own house, rental houses), commodities (Gold, Silver and Oil), stocks, money market, mutual funds, shares in OTC market etc, and generate passive income (that is money working hard for you to get you more money). One can then spend the earnings (the fruits) from the assets (the tree) to buy luxuries and riches, for charity and enjoying life. This way of thinking and doing things is never taught in school! No wonder many people including graduates have little or no practical knowledge on managing their finances well. We share this secret with you, whether you do it or not that is a personal decision. Most Youth would you rather have a smart phone worth 600 EUR, and sneer at the proposal of buying an acre of bush land (with Title!) or a high-yielding Dividend stock somewhere in Africa worth about the same amount. Five years down the line, what is the scenario? Smart phone, kaput! Became too old with technology changing by the hour. The acre of land, always appreciating, and stock paying you dividends plus bonuses. We yearn that you can learn the difference and practice it in your life, then teach others.

It starts with learning by reading books (starting with the Book of Proverbs in the Bible) and practicing what one learns (Prov. 19:8). It is important to invest time and energy to learn to be a good investor. Saving alone is not enough! Save and invest in assets, period! Learn the difference between Assets and Liabilities. Assets bring money to your pocket while liabilities impoverish you. Buy assets (Fig. 1) while you are younger in order to live richer lives when you will become older  (Prov. 23:21).

Fig. 1

Fig. 2

Fig. 3

Then, track your Net worth (All what you own minus all that you owe) (Prov. 27.23) (Fig. 2). This is your Balance Sheet.

The more income you have they more your net worth can grow. Sources of money (Fig. 3) include:

• Employment – You trade time and skill for money.
• Self-employment – Profits from his own effort but is limited to only his personal effort.
• Business owner – combine his effort with effort of others and that of his money. Management issues.
• Investor – Works hard and smart, saves, invests and re-invests and uses it to work for him (He saves & invests in assets; and re-invests the gains to get more income).

Aim to increase both your working and passive income so that even when you are not able to work, loose your job or retire, the assets can still earn an income for you. Working income is money earned in active working or in business, while passive income is money earned without you working. Never have a ceiling to your income/how much you can earn. Think biggest when it comes to earning. This means you have to be smart and diligent in whatever you do in exchange of money. God honours diligence, and most people, employers and organisations do too! The more diligent you are in what you do, they more likely that you will keep your job or business, and the more you can earn (Prov. 12:11; 10:14).

We will pick up from here in the next post......

How to create wealth and attain financial freedom

Stop mismanaging your money well

The century old book by George S. Clason © 1929 The Richest Man in Babylon points out these secrets to offer yourself ability to increase your networth and have money work for you:

1. Pay ‘yourself first’, put away at least 10% of your income consistently. "What have you to show for your earnings of the past month? What of past year? You pay to everyone but yourself! A part of all you earn is yours to keep. And it should be no less that a tenth no matter how little you earn." Open a separate bank account designated your Financial Freedom Account (Read T. Hav Eker's Secrets of the Millionaire Mind).  The job of this account is to build a golden goose that lays golden eggs called passive income. And when do you get to spend the money? Never! It is never spent-only invested. Eventually, you get to spend the income from the investments (the eggs), and never the principal (the goose) itself. In this way, it always keeps growing and you can never go broke. So,
2. Act today, start saving not less than 10% of every dollar you receive (after taxes) to this account.
3. Invest your savings where it’ll earn more money safely - use it for buying assets and investments to create passive-income streams. Re-invest the earnings to get more earnings. Increase your ability to earn  and multiply your income sources.
4. Control your expenditure (live on less than you earn, at most 60-70% of your income – Budget and track your expenses).
5. Guard your savings from loss - do not invest in areas you are not familiar with, or have no wise guidance in doing so.
6. Make of thy dwelling a profitable investment - owning the house you live in is a plus to your net worth
7. Insure your future income

When to take action

Time to start taking action towards a wealth goal is now. Why now? Because;

}  You spend an enormous amount of time thinking about money if you do not have it

}  Newton's First Law of Motion applies: A body in rest remains so and a body in motion tend to remain in motion, unless, it is acted upon by an unbalanced force. Nothing will change in how you manage your money if nothing changes!

}  Just like other natural laws, there are certain laws that govern acquisition of money and property (wealth)

}  To produce effect (result) there must be a  cause (law of cause and effect)

}  Financial success is not a result of entirely dependent on Environment, Talent, Hard-work, Thrift/ frugal rather it depends on doing things in a certain way – following the laws that govern acquisition of wealth.

}  If you set for yourself a SMART Goal, God has already given you potential to achieve it.  On the contrary, if you aim at nothing, you will achieve it.

It does not matter whether you have a lot of money (which is good), or have nothing. Until you show you can handle what you've got, you won't get any more! You must acquire habits and skills of managing a small amount of money before you can have a large amount. Remember, we are creatures of habit, and therefore the habit of managing your money is more important than the amount. Either you control money, or it will control you. To control money, you must manage it well. 

Our next post will delve more on personal financial management.

Money and wealth: As a man thinketh

Why we need to get money and wealth

}  We exist in 3 realms at same point: Body, mind and spirit

}  Full expression of all three is important, none is less important than the other

}  Expression by the 3 requires material (money)

1. Body- good food, clothes, recreation (rest) & shelter
2. Mind- needs learning, observation, fellowship, captivation, objects of art
3. Spirit – need to express love through giving, worship to God, ministry to others

Why we need to recondition our minds for wealth

}  How you think affects how you act, and the results you get (cause and effect)

}  Financial success begins with your mind (As a man thinketh in his heart, so is he. Prov. 23:7)

}  God has given potential at birth in the mind – to create, manage and grow things that you desire (incl. wealth).

}  Our upbringing, belief system, culture, shapes how we think about money 

}  We learn how to think through observation, hearing & doing

In his book, Secrets of the Millionaire Mind: Think Rich to GetRich!, T. Harv Eker lists seventeen ways in which the financial blueprints of the rich differ from those of the poor and the middle-class. According to him:

1. Rich people believe: “I create my life.” Poor people believe: “Life happens to me.”
2. Rich people play the money game to win. Poor people play the money game to not lose.
3. Rich people are committed to being rich. Poor people want to be rich.
4. Rich people think big. Poor people think small.
5. Rich people focus on opportunities. Poor people focus on obstacles.
6. Rich people admire other rich and successful people. Poor people resent rich and successful people.
7. Rich people associate with positive, successful people. Poor people associate with negative or unsuccessful people.
8. Rich people are willing to promote themselves and their value. Poor people think negatively about selling and promotion.
9. Rich people are bigger than their problems. Poor people are smaller than their problems.
10. Rich people are excellent receivers. Poor people are poor receivers.
11. Rich people choose to get paid based on results. Poor people choose to get paid based on time.
12. Rich people think “both”. Poor people think “either/or”.
13. Rich people focus on their net worth. Poor people focus on their working income.
14. Rich people manage their money well. Poor people mismanage their money well.
15. Rich people have their money work hard for them. Poor people work hard for their money.
16. Rich people act in spite of fear. Poor people let fear stop them.
17. Rich people constantly learn and grow. Poor people think they already know

The Top 10 Distinctions Between Millionaires and the Middle Class book by Keith Cameroon Smith points out:

1. Millionaires think long-term. The middle class thinks short-term.
2. Millionaires talk about ideas. The middle class talks about things and people.
3. Millionaires embrace change. The middle class is threatened by change.
4. Millionaires take calculated risks. The middle class is afraid to take risks.
5. Millionaires continually learn and grow. The middle class thinks learning ended with school.
6. Millionaires work for profits. The middle class works for wages. 
7. Millionaires believe they must be generous. The middle class believes it can’t afford to give.
8. Millionaires have multiple sources of income. The middle class has only one or two.
9. Millionaires focus on increasing their wealth. The middle class focuses on increasing its paychecks.
10. Millionaires ask themselves empowering questions. Middle-class people ask themselves disempowering questions.

Notice the similarity of these distinctions with those by Harv T. Eker.

The Ultimate Gift

The Ultimate Gift movie has several lessons about money which I like to share with everybody who cares to listen. I do not want to pre-empt the movie before you watch it, but I would like to spur a discussion with the viewers of this blog about the lessons from the movie. It is available on You-tube and you can watch it here too.

Share what you learn with other viewers here. Free Pdf Discussion and Inspiration Guides for this movie at the Downloads Tab.

The Five Laws of Money and Wealth Acquisition

Adapted from ‘The Richest Man in Babylon’ by George S. Clason © 1926. We highly recommend that you read this book at least once. The wisdom therein will transform how you deal with your finances. 

Wealth that stayeth to give enjoyment and satisfaction to its owner comes gradually, because it is a child born of knowledge and persistent purpose. To earn wealth is but a slight burden upon the thoughtful man. Bearing the burden consistently from year to year accomplishes the final purpose. The five laws of gold each rich with meaning, offer to thee a rich reward for their observance.

The First Law of Gold - Gold cometh gladly and in increasing quantity to any man who will put by not less than one-tenth of his earnings to create an estate for his future and that of his family.

Any man who will put by one-tenth of his earnings consistently and invest it wisely will surely create a valuable estate that will provide an income for him in the future and further guarantee safety for his family in case the gods call him to the world of darkness. This law always sayeth that gold cometh gladly to such a man. I can truly certify this in my own life.  The more gold I accumulate, themore readily it comes to me and in increased quantities. The gold which I save earns more, even as yours will, and its earnings earn more, and this is the working out of the first law.

The Second Law of Gold - Gold laboreth diligently and contentedly for the wise owner who finds for it profitable employment, multiplying even as the flocks of the field.

Gold, indeed, is a willing worker. It is ever eager to multiply when opportunity presents itself. To every man who hath a store of gold set by, opportunity comes for its most profitable use. As the years pass, it multiplies itself in surprising fashion.

The Third Law of Gold - Gold clingeth to the protection of the cautious owner who invests it under the advice of men wise in its handling.

Gold, indeed, clingeth to the cautious owner, even as it flees the careless owner. The man who seeks the advice of men wise in handling gold soon learneth not to jeopardize his treasure, but to preserve in safety and to enjoy in contentment its consistent increase.

The Fourth Law of Gold - Gold slippeth away from the man who invests it in businesses or purposes with which he is not familiar or which are not approved by those skilled in its keep.

To the man who hath gold, yet is not skilled in its handling, many uses for it appear most profitable. Too often these are fraught with danger of loss, and if properly analyzed by wise men, show small possibility of profit. Therefore, the inexperienced owner of gold who trusts to his own judgment and invests it in business or purposes with which he is not familiar, too often finds his judgment imperfect, and pays with his treasure for his inexperience. Wise, indeed is he who investeth his treasures under the advice of men skilled In the ways of gold.

The Fifth Law of Gold - Gold flees the man who would force it to impossible earnings or who followeth the alluring advice of tricksters and schemers or who trusts it to his own inexperience and romantic desires in investment.

Fanciful propositions that thrill like adventure tales always come to the new owner of gold. These appear to endow his treasure with magic powers that will enable it to make impossible earnings. Yet heed ye the wise men for verily they know the risks that lurk behind every plan to make great wealth suddenly. Forget not the rich men of Nineveh who would take no chance of losing their principal or tying it up in unprofitable investments.

Ten years from now, what will you tell about the gold in your possession today? Get hold of this book (download a free pdf copy) and see whether it will influence your answer to that question. I bet it will.