8 Financial Rules That Apply To Everyone And Their Money

Even the wealthy and famous have to abide by these money rules.

No matter who you are, how much you earn, or how you invest, a few truths apply to you and your money.

1. Spending money to show people how much money you have is the surest way to have less money.

Singer Rihanna earns tens of millions of dollars, but found herself "effectively bankrupt" in 2009. She sued her financial adviser for not doing his job. He offered a legendary response: "Was it really necessary to tell her that if you spend money on things you will end up with the things and not the money?"
The first iron rule of money is that wealth is the stuff you don't see. It's the cars not purchased, the clothes not bought, the jewelry forgone. Money buys things, but wealth -- assets such as cash, stocks, bonds, in the bank, unspent -- buys freedom and security. Pick which one you want wisely.

Top 10 richest footballers in Europe: Wealth-X

With the 2014-15 European football season underway, Wealth-X has released its list of the 10 wealthiest players in the European football leagues, with Real Madrid star Cristiano Ronaldo topping the list with an estimated net worth of US$230 million.

There Are More Billionaires In The World Than Ever

According to the Wealth-X and UBS Billionaire Census 2014, there are more billionaires in the world than ever. In 2013, there were 2,170 of them and this increased by seven percent in 2014 to 2,325. Collectively, these individuals (only 286 of them are women) have a combined worth of a whopping $7.3 trillion.

Where do most of the world’s billionaire’s live? Europe has the highest concentration in 2014 with 775, 9 more than in 2013. North America has the second highest billionaire population with 609 while Asia comes third with 560. Africa actually suffered a decline in its small billionaire population over the past year – it fell from 42 to 40.
Mexican business magnate Carlos Slim Helú is the world’s top billionaire with $81.1 billion, ahead of Bill Gates and Warren Buffet who have $80.2 and $65.8 billion respectively.

10 Of The Most Expensive Watches In The World

Auction houses may bring the promise of watches that withstand the test of time, but for those who prefer their wrist candy new, there is no shortage of options. From the classically inclined to mechanisms more suited for NASA, here are ten of the world’s most expensive watches prized for their craftsmanship and lineage.

1. Vacheron Constantin New Traditionnelle World Time

 
Thanks to an incredible Calibre 2460 WT movement, the flagship of the Excellence Platine collection, first introduced in 2011 and now available in platinum, takes the Vacheron brand to the next level.
Two significant hallmarks to note: the new hand-engraved center dial world map (with a shaded area on the map to reflect day or night) and a dial that is the first to reflect the upcoming time zone change in Moscow, effective October 26, which will change from being three to two hours ahead of Geneva. This 42.5 mm timepiece has three patents: for the indication of 37 time zones, for the day/night indication, and for crown-operated adjustments. Made of 950 platinum, as are its dial and folding clasp, it bears the sought after Geneva Seal.

Price: $98,500

Bill Gates Is At Least $6 Billion Richer Than He Was Six Months Ago, But Not From Microsoft

In July, Bill Gates may or may not have lost his title as the world's richest man. It depends on who you ask.
According to Forbes, Gates has a net worth of almost $82 billion, which puts him in the No. 2 spot behind Mexican telecom magnate Carlos Slim, who's worth $85.4 billion.

 

According to Bloomberg, Gates is still the world's richest man, worth about $86.5 billion, with Slim at No. 2.

Top 10 Most Expensive Films ever made

Every day, scores of movies are released worldwide in the film industry.  Hollywood shines under its broad genres of film making and owing to its international acclaim; it is home to the some of the most expensive movies ever to be made. The box office has its own tales to tell of the highs and lows of movie releases. While some movies make a stand in the minds of the public, some bomb at the box office. But has anyone of us wondered how much of capital actually goes into the making of a film?
An increasing number of movies are crossing the production cost of $200 million. Hollywood doesn’t release official budget reports although details of production, marketing and advertising can be found out. Ben-Hur (1925) and Cleopatra were the most expensive films, holding the record for 20 and 30 years respectively. The Pirates of the Caribbean-At World’s End is considered to be the most expensive movie to be ever made in the modern era. Its production cost was estimated at a record breaking $450 million as it shot following the filming of Dead Man’s Chest. Stumped? Well, read on and you”ll be so ever more. The movies below are listed as per increasing expenses accounted for in their making, when adjusted for inflation.

Some of The Most Beautiful and Breathtaking Places in the World in Pictures Part 2

The world is a book, and those who do not travel read only one page. – St. Augustine

Beachy Head – England

 

10 Best Coffee Chains in the World

Coffee is the most popular beverage in the world. The world consumes over 2.25 billion cups of coffee a day, and it has become one of the world’s most important commodities. Brazil is one of the largest producers of green coffee, with over five million Brazilians working in the coffee-related industry. Coffee is so critical to many economies in the world that is also publicly traded in the market. More than half of the Western-world drinks coffee on a daily basis. For many local restaurants and convenience stores, coffee represents over 80% of their hot beverage sales.
Often, coffee shop owners will own multiple stores as a means to grow their wealth. Many coffee shop owners insist that service and convenience are key drivers in increasing coffee sales. Owners will use take-out counters and drive-throughs to drive sales and reduce the need for tables and chairs.
Coffee’s future is not dark at the very least, but rather bright and full of promise as competitors chomp at each other for a slice of the market share. Here is a list of the best coffee chains spread all over the world.

10. Tully’s Coffee

Tully’s Coffee is a Washington based coffeehouse chain. There are special coffees, espresso drinks, baked products, pastries and other coffee related services available at Tully’s. Originated in Seattle, Washington (1992), the company started to expand slowly and has now reached overseas to Japan and South Korea. Tom Tully O’Keefe is the founder and Chairman of this multinational company who has played a major role in expanding this company from a single store to over 200 stores in Washington, Los Angeles, San Francisco, etc. It serves coffee, espresso and pastries in the house and also sells whole coffee beans.

Some of The Most Beautiful and Breathtaking Places in the World in Pictures Part 1

From majestic waterfalls, and lost cities, to mysterious landmarks and natural wonders, here is a collection of pictures which is worth to be looked on. Feel free to share your favorites destinations!

Cinque Terre, Rio Maggiore, Italy

The Highest-Paid TV Actress of 2014

It’s no secret that Hollywood has always been a man’s world. The top 10 actresses on our list this year earned a total of $140 million between June 2013 to June 2014; that’s a far stretch from the combined $214 million our male TV actors earned this year. Still, no one can beat the most powerful woman in television right now: Sofia Vergara.

No. 1: Sofia Vergara

$37 million 

Vergara, 41, continues her streak as the top earning TV actress – three years running -- in large part due to her business savvy – the Colombia native secured endorsement deals with Diet Pepsi, CoverGirl, Head & Shoulders and AT&T, among others. She also has a 12-year contract with K-Mart and a fragrance, movie roles and, of course, a reportedly $325K per episode take-home for Modern Family. Off-camera, the talent management and entertainment-marketing firm she co-founded, Latin World Entertainment, is launching a Spanish-language tech news site. Combining all of her various ventures together, and Vergara out-earns FORBES’ second-highest paid actress by more than $20 million.

The NFL's Most Valuable Teams

Just because the auction of the Buffalo Bills is having a tough time drawing bids above $1 billion two years after the Cleveland Browns sold for $987 million, and just weeks after the National Basketball Association’s Los Angeles Clippers were sold for $2 billion, doesn’t mean the National Football League is losing its status as the most valuable sports league in the world.
To the contrary: The average NFL team is currently worth $1.43 billion, the highest value in the 17 years Forbes has tracked professional football team finances. The $1.43 billion average is 23% more than a year ago, the biggest year-over-year increase since 1999.
Forbes’ team values are enterprise values (equity plus net debt) and are calculated using multiples of revenue that reflect each team’s current stadium economics (with adjustments for pending new stadiums and renovations). For teams that own their stadiums, we include the revenue the team gets from the stadium (net of applicable debt payments), but not the market value of the real estate.
In our most recent reports on the other leading team sports, the world’s 20 most valuable soccer teams (comprised mainly of clubs from the top English, Spanish, German and Italian leagues) had an average value of $1.05 billion, Major League Baseball teams had an average value of $811 million, followed by the NBA, with an average team value of $634 million.

The Most Expensive Home For Sale In The US

A French-inspired mansion has just hit the market for an astronomical $139 million, making it the most expensive home for sale in the U.S.
The 60,000-square-foot estate, called "Le Palais Royal," sits on over 4 acres and 465 feet of beachfront on Millionaires Mile in Hillsboro Beach, Florida.

The "palace" features 11 bedrooms, 17 bathrooms, and the first-ever private IMAX Theater with seating for 18, a bar, and a lounge. It also has a 492-foot private dock for a mega yacht, an underground garage with space for 30 cars, a putting green, and 4,500-square-foot infinity pool.

How Millionaires Manage Their Money Differently?

Wealthy people manage their money differently than everyone else. They make different decisions and have an entirely different way of thinking about money. But even if you’re not wealthy, you can still manage your money like the wealthy do. It’s step one of becoming wealthy. There are 10 specific ways wealthy people manage money differently than everybody else.

1. The wealthy forget about instant gratification.

Humans are wired for instant gratification. We love it. But evolution made us that way long before our modern monetary system came about. The desire for instant gratification doesn’t help us when we’re trying to become wealthy; it hurts us. Stop making decisions that will make you happy now, but mess up your future wealth.

2. The wealthy understand the difference between wants and needs.

“We need a bigger house,” you may say. Don’t confuse wants with needs. A common mistake poor people make is to disguise wants as needs as a way to to justify them. Then you feel better about making a poor financial choice. Wealthy people understand the difference between what you need and what you want. Know the difference between a want and a need and don’t lie to yourself about it.

Beyoncé Knowles Tops The FORBES Celebrity 100 List

Who runs the world? In entertainment, it’s Beyoncé. The singer has climbed to the No. 1 spot on the Forbes Celebrity 100 after an amazing year featuring a massive tour.
Queen B played 95 shows, bringing in an average $2.4 million per stop, according to Pollstar. She also dropped her most innovative album. Titled simply Beyoncé, the album hit iTunes with barely any publicity and was billed as a “visual album” because there was already a music video for each of the 14 songs.  The single “Drunk in Love” has gone platinum, selling more than 1 million copies.

But Beyoncé doesn’t stop with music — she’s built a small business empire. She earns millions endorsing companies like H&M and Pepsi. She has a line of fragrances with names like Heat, Rise and Pulse, and then there’s her clothing company House of Dereon, which features jeans, shoes and accessories. All together we estimate that Beyoncé earned $115 million between June 1, 2013 and June 1, 2014.

5 Reasons Why You Will Never Become Financially Free

Many people want to be financially independent to do whatever they want, whenever they want with whomever they want but only a few of them become so.
So if you are one of them, let me give you 5 reasons why you are still not financially independent.

#1 You think it’s impossible

I spoke with many people about financial independence and each one of them completely agrees on the fact that financial independence is great.
Not worrying about money, travelling wherever we want, buying whatever we want without feeling guilty…is something many people want but only a few of them will ever achieve simply because they will tell themselves:

“Stop dreaming! That’s not going to happen, that’s too good to be true…”

Which boils down to:

“That’s impossible”

That belief is what prevents most people from ever reaching financial independence because if they believe something is impossible they won’t take any action. They won’t read any book about finance, they won’t attend seminars, they won’t interview people who are already financially independent, which is necessary to become financially independent.

#2 You don’t have any plan

If you say that one day you’ll be financially independent make sure you have a plan. Having a strong desire to get something is not enough, you need to implement strategies otherwise that’s just dreaming.
So can you tell me what is your plan for the next 5 years? What will you implement exactly in the future to reach your financial independence?
If you can’t answer both questions, finish reading this article and start writing down your plan. I don’t want you to procrastinate! If you tell me that you’ll make it tomorrow you won’t do it. So start making a plan and stick to it!

MAKING MONEY - THE POWER OF COMPOUNDING

MAKING MONEY:  The most popular piece I've published in 40 years of writing these Letters was entitled, "Rich Man, Poor Man." I have had dozens of requests to run this piece again or for permission to reprint it for various business organizations. Making money entails a lot more than predicting which way the stock or bond markets are heading or trying to figure which stock or fund will double over the next few years. For the great majority of investors, making money requires a plan, self-discipline and desire. I say, "for the great majority of people" because if you're a Steven Spielberg or a Bill Gates you don't have to know about the Dow or the markets or about yields or price/earnings ratios. You're a phenomenon in your own field, and you're going to make big money as a by-product of your talent and ability. But this kind of genius is rare. For the average investor, you and me, we're not geniuses so we have to have a financial plan. In view of this, I offer below a few items that we must be aware of if we are serious about making money. Rule 1: Compounding: One of the most important lessons for living in the modern world is that to survive you've got to have money. But to live (survive) happily, you must have love, health (mental and physical), freedom, intellectual stimulation -- and money. When I taught my kids about money, the first thing I taught them was the use of the "money bible." What's the money bible? Simple, it's a volume of the compounding interest tables. Compounding is the royal road to riches. Compounding is the safe road, the sure road, and fortunately, anybody can do it. To compound successfully you need the following:  perseverance in order to keep you firmly on the savings path. You need intelligence in order to understand what you are doing and why. And you need a knowledge of the mathematics tables in order to comprehend the amazing rewards that will come to you if you faithfully follow the compounding road. And, of course, you need time, time to allow the power of compounding to work for you. Remember, compounding only works through time. But there are two catches in the compounding process. The first is obvious -- compounding may involve sacrifice (you can't spend it and still save it). Second, compounding  is boring -- b-o-r-i-n-g. Or I should say it's boring until (after seven or eight years) the money starts to pour in. Then, believe me, compounding becomes very interesting. In fact, it becomes downright fascinating! In order to emphasize the power of compounding, I am including this extraordinary study, courtesy of Market Logic, of Ft. Lauderdale, FL 33306. In this study we assume that investor (B) opens an IRA at age 19. For seven consecutive periods he puts $2,000 in his IRA at an average growth rate of 10% (7% interest plus growth). After seven years this fellow makes NO MORE contributions -- he's finished.

9 Ways to Get Rich Quicker

Maybe you’re willing to take some calculated risks in pursuit of the freedom that money (and lots of it) can give you to make choices that can bring satisfaction, whether that means buying your dream home, giving generously to charity or escaping the 9-to-5 grind. In that spirit, we focus on nine faster roads to riches, with varying levels of risk. Essential qualities for success: passion, persistence and patience.

Start a New Business

Risk level: High
What do success stories like Henry Ford, Steve Jobs and Mark Zuckerberg have in common? They all made their mark (and their millions) by coming up with a better idea and running with it. Starting a business is a proven path to wealth, and the best way to get there is to start small and scale up -- which usually means being bought out by a larger company, selling franchises or licensing your product.
An ambitious goal is critical if you want to expand your business.

Create a Product

Risk level: Medium
Creating a product and licensing it or selling it through retailers is another route to making money from your good idea.
One of the biggest mistakes that aspiring inventors make is to create a product before they’ve determined whether there’s a demand for it. Talk to potential customers in person before you develop a products.

Invest Aggressively

Risk level: High
With this approach, you invest in a small number of stocks that you hope can double, triple or even quadruple in relatively short order.
Call this a shoot-the-lights-out strategy. Nobody knows for certain which stocks will surge and which will sink. But if you are hoping to achieve big gains, you’ll need to look beyond large, steady-Eddie types of companies. Small companies that are poised for rapid expansion and firms that serve emerging markets, which are growing more rapidly than developed nations, make for fertile hunting ground for potential winners.
If you go this route, you’ll need to monitor these companies carefully to determine whether to hold them or replace them with better opportunities.

10 Incredibly Beautiful World Heritage Sites

10.Bagan City, Burma (Myanmar)

Similar to Angkor Wat in Cambodia, this location is home to thousands upon thousands of temples. Due to Burma’s inner turmoil it isn’t nearly as crowded as other similar locations.

9. Göreme National Park, Turkey

Famous for its breathtaking rock formations including the “fairy chimneys”, Goreme is also the name of the main city in the region which is nearly entirely carved out of rock.

The 10 Worst Habits Holding You Back From Success

The path of success is often littered by our own trash, obstacles that we place ourselves. Habits, by definition are behaviors that are so ingrained that we no longer become conscious of them; actions that turn into autopilot. The power of habit is severely under-recognized as driving force toward success. When the incredible Brian Tracy was asked about the key to success, he replied, “Successful people are simply those with successful habits.”
While there are many people that possess many successful habits, these habits are being undermined by toxic habits- it is taking one step forward but then two steps back. Breaking the bad habit could be the game-changer that you are desperately needing.

Here are 10 of the worst habits that are holding you back from success:

1. Waiting for the ‘right’ moment

How many times have you said, “I’m just going to wait until I have enough money saved up,” or “I need to research more.” As the Chinese proverb goes, “The best time to plant a tree was 20 years ago. The second best time is now.”
Stop waiting for the unicorn and take the bull by the horns now. Any action is better than no action.

Failure Is Feedback: How 5 Billionaires had To Fail To Succeed

Every success book, seminar or life coach out there can tell you that failure is just a stepping stone towards success. And they’re right. It is. But that simple piece of information won’t help you. Information is power only when applied in real-life situations. In this case, that means being able to view failure for what it really is: feedback.

You then simply extract different lessons from that feedback and you’re on your way to success. That sounds easier than it really is. Everybody gets caught up in the day-to-day drama of work, family or friends. It’s easy to forget the basic rules and feel like a failure after something doesn’t work out, especially in business.

Failure Beats You Up

It’s the habitual first ‘instinct’ to feel disappointed in yourself when the start-up you’ve invested so much in fails. After such a defeat, you couldn’t care less about the mantra failure equals feedback that those ‘success gurus’ keep chanting. It’s understandable. But let me show you some real-life examples that will actually prove that that very mantra is true.
Here are 5 giant entrepreneurial figures (whose net worth in total comes in at around $90 billion or so) who didn’t succumb in the face of early failure, but rather enjoyed and appreciated it for the lessons heeded. And they aren’t afraid to admit it.

FunBug – Nick Woodman

Net Worth $1,750,000,000
Nick was a ‘B student’ during college and an avid surfer, a hobby which often times interfered with his studies. He wasn’t born a billionaire. Before creating the now wildly successful brand of wearable cameras – GoPro, he failed in great style with two online startups during the crazed dotcom bubble of 2000.

The Failures

First, he created EmpowerAll.com, an e-commerce site aimed at a young demographic which sold very cheap electronics. The company didn’t make any profit, so it was quickly shut down. That didn’t drive our future billionaire out of the business arena; it drove him to try harder, so in 1999 he set up FunBug, an online marketing company.
The site gave users the chance to win cash prizes in return for participating in sweepstakes. It was marketing through games. He even managed to raise $3.9 million in funding from different investors. The company was on the rise, but by 2001, Nick had to admit failure once again. He wasn’t able to create a sustainable user base from which to drive profit via the companies he was marketing.
Here’s what he said to Forbes about failing the second time and losing almost $4 million dollars:
"I mean nobody likes to fail, but the worst thing was I lost my investors’ money and these were people that believed in this young guy that was passionate about this idea… you start to question: are my ideas really good?"

The Lesson

After losing the second company, Nick cleared his head by going on a surf trip, a long one. Once back, he started working on a prototype for a camera which can be used by athletes: GoPro.
‘I was so afraid that GoPro was going to go away like Funbug that I would work my ass off. That’s what the first boom and bust did for me. I was so scared that I would fail again that I was totally committed to succeed.’
Only this time, there was no bust, only the boom. GoPro made him one of the youngest billionaires in the world, and the owner of the fastest-growing camera company in America.

10 Ways You Can Be A Successful Early Riser

The average person sleeps about 8-9 hours a day. Now, just imagine for a second how much more exciting and successful your life could be if you would gain 3 additional hours of valuable time every single day.
Imagine, getting up at 5AM without being tired and buzzing with energy throughout the entire day.
In only one year, you would gain almost 1100 hours or 45 days.
What would you do with all that extra time?
You could take your business to the next level, you could learn a foreign language, you could spend more time with your family…
But, isn’t it terribly difficult to get up early every day?
Sure, forming a new habit is always somewhat challenging at the beginning. You may be struggling a bit the first few days. After one week it is already much easier and after 3-4 weeks you will have created a new habit and it surely won’t be a big deal any longer.
So, yes, you probably will be tired for about a week. But, your body gets used to the new rhythm and to having less sleep very quickly – much quicker than you may think.
And you know, it is not so much the quantity of sleep you get, but much more the quality of your sleep that really counts.
Several years ago, I was sleeping almost 9 hours a day. And still, several times during the day I felt very tired. Now, I’m sleeping only 6 hours a day and I’m feeling much fresher and much more energized.
Here is the simple formula to greatly improve the quality of your sleep and to make getting up at 5AM really easy:

1: Change your beliefs about getting up early

Most people believe that they need 8 or 9 hours of sleep a day to “function” properly. I know from my experience and from the experience of many other people, that 6 hours is absolutely enough.
Re-condition your mind and tell yourself that after a short period of adaptation you will be feeling absolutely great with only 6 hours of sleep a day and that it is NOT a big deal at all to get up at 5AM.

2: Don’t eat several hours before going to sleep

I recommend, you don’t eat anything after 7PM. Also, avoid drinking coffee, black tea or alcohol 6-7 hours before going to sleep.
If you eat before going to sleep, additional energy will be required by your digestive system, the quality of your sleep will suffer and you will wake up tired in the morning.

3. You need a good reason to get up early

Think about why you would like to have more time in your life. What drives and motivates you? This will help you to get up early.
I also recommend you write a task list for the following day and you define what task(s) you will tackle first thing in the morning. If you get up early and then you don’t know what to do, there is a “risk” that you just go back to bed.

4: Calm your mind before going to bed

Make it a habit to meditate or relax 20-30 minutes before going to bed. Don’t work or watch TV just before going to bed. If you do that, your mind keeps on running, it will take you longer to fall asleep, your sleep won’t be as deep and relaxed as it should be and you will be tired the next day.

5: Make a firm decision to get up at 5AM and turn it into an exciting challenge

Before falling asleep, tell yourself to get up at 5AM – no matter what! Visualize yourself having a deep, relaxing and energizing good night’s sleep and getting out of bed at 5AM feeling refreshed and excited to start the day.
That way, you condition your subconscious mind and getting up early will be much easier.
Make “getting up at 5AM” an exciting challenge. Most people won’t even try their entire life, many of those who try give up after only a few days… Yes, getting up early is a habit mostly used by highly successful people.
Will you succeed? Of course you will!

6: Don’t Snooze

I know, it’s tempting to snooze when the alarm clock rings, but it only makes your challenge of getting up early more difficult. You snooze once, the next day maybe twice, then you stay half an hour longer…
Don’t think, don’t negotiate, don’t try to find any reasons why it would not be a problem to stay a few minutes longer… just get up, just do it!
You can even practice this behavior during the day: Lie down, set your alarm clock to ring in 5 minutes, relax and pretend you are sleeping… and as soon as the alarm goes off, tell yourself: “Time to get up, I’m looking forward to another exciting day…” – and just get out of bed.

7: Put your alarm clock out of reach

If the temptation to snooze is too strong, put the alarm clock further away from your bed so that you have no other choice than getting out of bed to switch off the alarm.

8: Time to fully wake up

Ok, you just got out of your bed, but probably you are not fully awake yet. Open the window and take 5-10 deep breaths of fresh air. I also recommend some light physical exercises for at least 10-15 minutes to fully oxygenate your body and to get ready for the day.

9: Be proud of your achievement

Less than 1% of the population gets up at 5AM and typically it’s only the high achievers and the super successful people. So, take a minute, enjoy your achievement and be proud of yourself.
This may sound a bit childish, but it’s really important. Having this feeling of accomplishment will provide you with additional motivation and it will make getting up early easier for you the following days.

10: Make sure your nutrition is healthy and balanced

The quality of your nutrition has a huge influence on your energy level. The higher the quality of your nutrition, the more energy you will have and the less sleep you will need.
I recommend you buy a good book on healthy nutrition. Here are some basic tips to give you some ideas: Eat more fruits and vegetables (ideally organic), drink enough water. Avoid alcohol, fast food, junk food, too much coffee or black tea… Reduce your consumption of sugar, unsaturated fatty acids, meat… as much as possible
Trust me, it’s not as difficult as you may think and it gets easier every day

The Conclusion:

Once again, getting up early will probably be somewhat challenging at the beginning, but it gets easier every day. You just have to push through the first 7-10 days. This takes some discipline and will power, but it is well worth it.
Yes, you will be tired at the beginning, but after a week or so you will realize having more and more energy during the day and feeling less and less tired.
Our goal here is to be buzzing with energy throughout the entire day while sleeping less. There is no point in getting up at 5AM if afterwards you are tired for the rest of the day.
Some people recommend to make getting up early a slow and incremental process, where you get up 15 minutes earlier every 1-2 weeks.
When I decided to get up earlier, I immediately went from about 8AM to 6AM and about a year later I decided to give 5AM a try and it worked quite well for me.
But, you can experiment with both approaches.

Source: Addicted2success.com

7 life lessons from the very wealthy

Please excuse the very wealthy for feeling a bit under siege lately.
Taxes for the top 2 percent are very likely to go higher. Uncle Sam’s share of capital gains and dividend income might rise, and means-testing for Social Security and Medicare is probable. In the United States, the very rich hold most of that wealth in dollars, which are worth increasingly less. As income inequality has grown dramatically in the nation, the very wealthy are blamed for all manner of social ills.
Rather than pile on the wealthy, this week I’d like to approach the subject of money a little more philosophically. There are surprising insights to be gleaned from the experiences of the very wealthy regarding their investments and experience with wealth.
Some context: In my day job, I come into contact with very high-net-worth individuals. These include young technologists with modest portfolios to families that measure their wealth in nine and 10 figures. For the math-averse, that’s hundreds of millions to billions of dollars.
Over the years, I have had some fascinating conversations with people who have hospitals and graduate schools named after them. I’d like to share some of the things I have learned from these folks.

1. Having money is better than not having money.

Sure, this may be obvious, but let’s get it out of the way upfront. Money may not buy you happiness, but it buys many other important things. Like financial security, excellent health care, education, travel and a comfortable retirement. In a word: freedom.

2. Don’t become “cash rich” and “time poor.”

Devoting all of your waking hours to making money is a problem, especially in professions with a partnership fast track. Lawyers, doctors, bankers and accountants can get so caught up in the competitive nature of their jobs that they lose touch with their family. Any semblance of a normal personal life disappears, and a very unhealthy balance between work and home can develop.
Work is the process of exchanging your time for money. Remember: What you do with your time is far more meaningful than the goods you accumulate with your money. If you are working so much to become rich but you ignore your spouse and miss seeing your kids grow up, you are actually poorer than you realize.

3. Memories are better than material objects.

You may be surprised to learn that among the monied set, expensive cars, yachts, houses, jewelry and watches come at the end of the list.
Their priorities? Memories and accomplishments. This was especially true when it came to family. Toys matter less than good times.
The rule of diminishing returns is a harsh mistress with luxury goods. Do you really think $100,000 audio speakers sound 20 times better than a pair of $5,000 speakers? (They don’t). Is a $250,000 sports car five times faster than a $50,000? (It is not). These days, you can buy quite a lovely home for $1,000,000 (and much less in the country’s interior). Those $10,000,000 manses are not 10 times roomier. Anyone who has owned a $10,000 Rolex will tell you that a $39 Casio keeps better time.
When discussing the benefits of wealth, I have heard again and again about amazing experiences, family get-togethers, vacations, shows, sporting events, weddings and other events as these people’s most important life experiences. While these things cost money, nearly every family can afford reasonable versions of them.

4. Watch your “lifestyle leverage,” especially early in your career.

Those partnership-track careers? The dirty little secret: Those firms love to get their young employees leveraged up. They will even help you get that way, co-signing mortgages for big houses or even directly lending you the cash on favorable terms.
They encourage up-and-comers to spend extravagantly; they extend lines of credit to their rising stars. You need a big house with a jumbo mortgage; you cannot pull up to a business meeting in anything less than the best luxury car. It is part of their corporate culture.
Isn’t that nice of them?
Not really. The big banks, investment shops, law firms and accountants have learned how profitable it is to have “golden handcuffs” on their best employees. These highly-leveraged, debt-laden wage slaves will work harder, put in longer hours and stay with the firm longer than those debt-free workers.
Besides, overleveraged employees do not leave to work at a new start-up or a smaller, more family friendly competitor.
You recent graduates: Remember this when you are offered credit on generous terms. Your leverage is your detriment.

5. Having goals is incredibly important.

I have a friend who is a serial entrepreneur. He was a board member in a household-name dot-com from the 1990s. He sold his stock — too early, I warned at the time — for $30 million. (It would have been worth $90 million a few months later.)
But that didn’t matter to him — he planned to use that money for his next company, which he promptly built and sold for $250 million. He rolled that l into his third venture, which he cashed out of for a cool $1 billion. His long-term goal, and the ability to execute that vision, are what led him to incredible success.
He once said something that has stayed with me: “I am always surprised at how many people have no goals. They simply let life’s river flow them downstream.”
There is a Latin phrase associated with military actions: “Amat victoria curam.“ It translates as “Victory loves careful preparation.” You would be amazed at what you can accomplish with planning.

6. You must live in the here and now.

Goals are important, but don’t miss out on what is happening today.
This is especially true among entrepreneurs, corporate execs and Type A personalities. Do not let dreams of that mansion on a hill prevent you from enjoying the home you live in.
This is an area that can easily veer into cliche. Rather than risk that, I’ll simply remind you of what John Lennon sang in “Beautiful Boy”: “Life is what happens to you while you’re busy making other plans.”

7. It helps to be incredibly lucky.

I am struck by how many very wealthy people I know — especially tech entrepreneurs – have expressed being grateful for their good luck. Again and again, I have heard the phrase: “Being smart is good, but being lucky is better.”
Rather than leave you with the impression that success is simply a roll of the dice, I am compelled to remind you what the Roman philosopher Seneca the Younger was reputed to have said: “Luck is where preparation meets opportunity.”
I don’t know whether it’s better to be smart or lucky, but I would suggest that making the most of the opportunities takes more than just dumb luck.

Source: washingtonpost.com

The Top 10 UK Entrepreneurs

The United Kingdom has long been a hotbed of entrepreneurial activity, and hundreds of thousands of people in Britain have achieved financial independence by way of starting their own businesses. Even among Britain’s many successful entrepreneurs, there’s always a small percentage of people that rise to the upper echelons of high net worth status.
Below is a list of the current top ten UK entrepreneurs, in order of net worth, from the lowest to the highest.

10. Peter Jones (Net Worth: $367 million)

Peter Jones is a well-known business tycoon and recent star of the popular BBC2 television series “Dragon’s Den“.
Peter has interests in several major industries such as television, mobile phones, travel/leisure, and real estate.
Jones obviously believes in “paying it forward” to some degree, as he recently persuaded former UK Prime Minister Gordon Brown to create an academy in London for up-and-coming UK entrepreneurs.

9. Simon Cowell (Net Worth: $400 million)

Perhaps most famous for his brutal honesty during his tenure on the famous television show “American Idol” (and more recently with “X Factor”), Simon Cowell earned his fortune as a music executive and television producer. Cowell got his start working in the mail room of EMI Music Publishing, a company in which his father held an executive position. Simon managed to work his way up the ranks until he eventually broke away to form his own record label, E&S Music. After a wildly successful stint on American Idol, Cowell now owns a new record company known as Syco, along with its sister television production outfit, SycoTV.
The combined salaries of Simon’s various television and music ventures reportedly earns him a cool $95 million each year.

8. Duncan Bannatyne (Net Worth: $645 million)

Duncan Bannatyne is a perfect example of the classic rags-to-riches story. He started his first business with only $730, selling ice cream from a second-hand van. He eventually entered into the Bed & Breakfast and nursing home industry, subsequently developing over 30 such properties which he later sold for $42 million. He then took $36 million of the proceeds and entered into the fitness club arena. Bannatyne also purchased an 80% stake in the popular Just Learning child care franchise along the way, which he later sold after making $36 million from the investment.
Duncan now owns an empire of 40 spas and well over 60 health clubs, along with other assorted hotels and bars. He is also a devoted philanthropist, operating the Bannatyne Charitable Trust which supports over 25 different charities.

7. J.K. Rowling (Net Worth: $1 billion)

A Gloucestershire native, J.K. Rowling is most famous for authoring the immensely popular Harry Potter series of books, which later became immensely popular movies as well.
Rowling is the first author in history ever to achieve a net worth of $1 billion, and is currently one of the wealthiest private citizens in the UK.

6. Alan Sugar (Net Worth: $1.14 billion)

Popularly known as Lord Sugar and now Baron Sugar, Alan Sugar made his fortune in the consumer electronics industry, creating the popular computer brand known as Amstrad (short for “Alan Michael Sugar Trading“), which he later sold to BSkyB for roughly $187 million in July of 2007.
Amstrad presently owns a number of business interests including a digital signage company, a property investment company and an executive aviation company. Sugar recently achieved TV star status due to his role on the BBC reality series called “The Apprentice“, basically becoming the British equivalent of Donald Trump.

5. Laurence Graff (Net Worth: $4.3 billion)

Graff founded the world famous diamond jewelry business, Graff Diamonds, in 1960. He is intricately involved in every phase of the diamond business, from sourcing and mining the raw materials to cutting, polishing and marketing the finished product.
Graff occupies the number one spot in terms of the wealthiest diamond merchants in the UK.

4. James Dyson (Net Worth: $4.5 billion)

A phenomenal engineer and inventor by any standard, James Dyson has taken his passion for building a better vacuum cleaner to stratospheric heights, earning his fortune through innovative creations such as the Dual Cyclone and Dyson Ball vacuum cleaners.
With other technologically savvy inventions such as the blade-less fan and HEPA-filtered hand dryers to his credit, Dyson is far and away the wealthiest engineer in the UK.

3. Richard Branson (Net Worth: $4.6 billion)

A London native, Sir Richard Branson is CEO of the Virgin Group, a conglomerate of companies that includes Virgin Mobile, Virgin Airways and Virgin Megastores. He is known just as much for his exuberant and eccentric personality as he is for his extravagant wealth.
Richard Branson is also a noted philanthropist, having donated hundreds of millions of dollars to various charitable and environmentally conscious causes.

2. Philip Green (Net Worth: $5 billion)

Philip Green is the current CEO of Arcadia Group, a conglomeration of various popular retail companies including British Home Stores, Topshop, and Dorothy Perkins. Green struck out on his own at an early age, quitting school at the age of fifteen to begin working as a shoes importer. His hands-on training in the art of international trade served him well in later ventures, including a jeans importing business in which he worked with major London retailers to move his products.
Philip Green eventually began buying various clothing and retail chain stores, which earned him the bulk of his multi-billion dollar fortune.

1. David and Simon Reuben (Net Worth: $5.53 billion)

The individuals holding the top spot on the list of the UK’s wealthiest entrepreneurs are the Reuben brothers, both self-made billionaires from several diversified industries.
Born in India to a Jewish-Iraqi family, David and Simon Reuben started their lives in abject poverty, but a move to London in 1950 sparked entrepreneurial ambitions in the hearts of both brothers. David started out in the scrap metal trading business, while his brother Simon managed to buy out England’s oldest carpet company after working for years in the carpet industry. They leveraged their earnings in these businesses to invest in property as well as other raw materials businesses (e.g., aluminum, copper, etc.).
The Reuben brothers are fiercely private about their wealth, and are well-known for being somewhat elusive, even to the point of skipping out on dinners and parties in which they are the hosts.

Source: addicted2success.com