Key Truths to Prosperous Wealth Building

Research has proven wealthy people generally have commonalities. Prosperous people have certain thoughts about money and their ability to obtain wealth. Society teaches conventional wisdom; get a good education, and get a secure job. Unfortunately this conventional wisdom leaves ninety percent of the people still broke or working at age sixty-five.

The days are long gone when a person graduates college, gets a good secure job, works it for thirty to forty years and retires with a nice pension. Job security just isn’t what it used to be. Prosperous people don’t believe in working hard, they believe in working smart. And, they know they will never get rich working for someone else or in their own business where they have to be present for it to operate daily. True wealth is having money and the time to enjoy it.

Prosperous people have a different mindset about wealth as it relates to money. First and foremost they don’t believe in being defined by money. Money is thought of as a material possession and does not define their happiness. They learn how to leverage what they have to produce more.

There are some key truths to becoming prosperous. Let’s review a few of them.

1. There is a big differential in the thinking patterns of prosperous and non prosperous people. Oftentimes people who are not prosperous have a negative thinking pattern towards gaining wealth. They believe that it is hard to get more than they have, and lack some of the things they want by conceding that they just cannot afford it. Prosperous people believe that they can figure out how to afford the things they want. By changing your thoughts about money you will be able to start believing you can generate more and that you deserve it.

2. Prosperous people understand that money does not define them and they are content were they are. Many people believe that they will be happier if they have more money. This is a common misnomer. Learning how to be content where you are will assist you in becoming prosperous.

3. Prosperous people change their self-limiting beliefs. If you want to become prosperous you first have to believe that you can and then you have to believe you are deserving of wealth and have the ability to receive it. Get rid of self doubts. Tell yourself you are just as worthy of having wealth as someone that has it. Begin a practice of writing down your current self-limiting beliefs at least once per day.

Understand that becoming prosperous begins with changing your beliefs as it relates to money. Simply changing your thinking about becoming prosperous is one of the first steps to enjoying a wealth building.

David Newby is an author, and wealth coach. His company Rock Solid Financial Group LLC teaches how to retire in six to twelve years or less by powerfully leveraging assets. More information is available www.YourProsperityPower.com, www.FinancialPlanning202.com.

Income Protection Could Give You Financial Security

If you were to suddenly find yourself without an income, due to losing your job or being unable to work for health reasons, your lifestyle could change drastically. If you have monthly mortgage repayments to make you would still have to continue meet the costs or risk losing your home to repossession. Loan or credit card repayments would also have to be made too, and you could struggle when it comes to finding the money needed. Income protection could give you the financial security needed each month for a small monthly premium.

A protection policy would replace your lost income up to a certain amount each month. The exact sum you would receive is decided when you take out the cover. A specialist provider will offer the cheapest premiums, which will be based on how much of your income you wish to protect and how old you are when applying for the cover. Along with a quote for the protection, with an independent provider you will also be able to take advantage of the many tips and advice offered by way of articles and FAQs relating to payment protection products. Understanding what you are buying is key to making sure your cover delivers exactly what you need for your circumstances.

Not explaining to the consumer that there are terms and conditions attached to these insurance policies is the main failure that providers have been guilty of in the past, and this is deemed mis-selling. There are some exclusions that are general to all policies and it is essential to check them against your circumstances to be absolutely sure that the policy you are considering would benefit you. Individuals who are self-employed, suffer from an ongoing illness, only work a few hours each week or who are retired might not benefit from taking out cover. However, those who do suffer from an illness should still give some thought to cover if the illness has not been present within the past two years. In addition, a self-employed individual could benefit if they have to cease trading through no fault of their own.

Just as the premiums for income cover varies from provider to provider then so do the exclusions, so it is absolutely imperative that you compare the exclusions along with comparing the cost. Providers can add in their own exclusions too and these can vary considerably. The best independent providers add in very few exclusions and this is what you should check for.

An income protection insurance policy could kick in anywhere between day 30 to 90 of being continually unable to work. Cover is then backdated to the first day of being unable to work, whether that’s due to redundancy or suffering an illness or accident. The majority of policies will last for up to 12 months. There are providers that do extend the payout for up to 24 months, but you can expect to pay a higher premium for this. The terms and conditions will be set out in the key facts of the cover and will include the details of the payout. You should also give some thought to the fact that after the period of protection ends you could still be unfit for work or might not have found another position.

About The Author

Simon Burgess is Managing Director of the award-winning British Insurance (http://www.britishinsurance.com), a specialist provider of low cost income payment protection insurance (PPI), mortgage payment protection insurance (MPPI) and loan payment protection insurance.