Millionaire Mind - Thinking

Millionaires prosper when others panic.

The income millionaires earn and far more importantly *keep* and *grow* has nothing to do with the majority of people losing net worth. The business woman or businessman makes a lot more money in an up economy than a down economy but regardless the majority of EARNED money by the wealthy is KEPT for securing
the future against growing government foolishness.

Today's papers are not uplifting, but those with a Millionaire Mindset you can see opportunity where others see panic. For example:

Today....The Associated Press reported, "After a string of bad economic news, U.S. consumer confidence plunged to a seven-month low in June on continuing worries about high unemployment and stagnating wages.

The Conference Board's Consumer Confidence Index slipped to 58.5 in June, the private research group reported Tuesday. That's down from a revised 61.7 in May, which marked an almost six-point drop."

These numbers are flat out bad but the wealty individual has learned how to utilize information like this and either secure their earnings or profit more.

The housing market shows no signs of bottoming with homes selling for what they did in the very early 2000's. This makes buying pristine individual properties in high demand middle class areas a consideration, but not a great time to shell out the real estate investment money in general.

The government says it might shut down because it can't balance it's budget. We should be so lucky. Balancing the budget does absolutely zero in getting the country up from the cliff it hangs on. But most people don't realize that the government shutting down would be a long term gift not a long term earthquake.

All of that said...

Your money does not go as far as it used to. Prices are up quite a bit this year over last when you visit the grocery store.

www.thefiscaltimes.com reports about "stealth inflation -Honey they shrunk my lunch".

The author shows how over time brands we are used to purchasing keep shrinking in size. Ketchup, tuna, crackers, orange juice, toilet paper...all coming out in smaller containers with of course no lower prices.

For those who are retired or looking at retirement soon, and thinking the words "fixed income"...the situation can seem scarier still. And it should as the government continues to pilfer social security for every wasted government expense you can list.

But it doesn't have to be like that. And it *definitely* doesn' have to impact you in a terrible way.

With an outlook that is constantly searching for where your skills,expertise and loves collide, opportunity is there for you.

It is still possible, yes, even in today's economy, for people to do well doing what they love...even on a retirement income.

One of my Inner Circle members is retiring and moving to another sun drenched country. Expat. Go somewhere their government doesn't want to tax even more and more from her budget.

As she was making her plans, nearly every day she spoke with someone who wanted to "hear more about it" because they too were thinking about the same thing.
This has led to a website, ebook, and future tours. She is happy, excited, bouyant and making money from something she loves to do. Because she is a compassionate person, she also is experiencing the joy of helping people.

Here's the deal: She is selling her knowledge and her love of something new. Capital investement? Pretty much zip. < $1,000.

And a perfect niche with a compelling story is always hot.

Ever hear of Booty Pop?

Not being a big watcher of TV, I missed the buzz, but did read about it in today's Small Business section of USA Today..."Everybody wants to have a great booty now," says Booty Pop co-founder Susan Bloomstone.

Bloomstone and business partner Lisa Reisler recognized the trend, and created undergarments that help give women a curvaceous look. Their niche product is now known worldwide.

The company has sold nearly a million units of the undergarment in three years, including in Japan, Australia and Korea. Recently, the product was mentioned in the British press in response to all the attention about Pippa Middleton's figure. Today, the garments can be found in stores such as Target and Bed, Bath and Beyond as an "As Seen On TV" product.

USA Today says you must have a good product to make it. It also mentions Brooklyn Industries, who make messenger bags from recycled billboards. Co-Founder Lexy Funk says,"It was sort of an overnite success....we were so impassioned and committed by the concept and the desire to make it work that we didn't think there was any other option."

And it did.They now have 15 stores in 4 states and revenue has grown more than 230% in the past 5 years.

But the economy is terrible, right? :)

In GENERAL it absolutely is. But it is an absolute cold hard fact that recession and depression periods are when the new millionaires are made. Recessions separate the Wheat from the Chaffe more so than in any other period. This doesn't mean that all the wealthy are worth more in a recession, but on a percentage basis because they are simply smarter about earning, growing and wisely investing their earnings, they do better. No rocket science.

Most people will do much worse in a recession (that isn't called a recession...but it is!)

But...it's not going to be worse for impassioned people doing what they love and following a proven business model.

The Millionaire Mindset is the difference between those who look at the newspapers and the economic reports and say AlAS ...WOE is ME....nothing can be done!