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"We all know a variety of ways to make a living. What's even more fascinating is figuring out ways to make a fortune." Jim Rohn


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Today's issue includes:

1. Article by Jim Rohn - DIVIDING THE FINANCIAL PIE
2. Vitamins for the Mind - FINANCIAL INDEPENDENCE by Jim Rohn
3. Schedule Update - Challenge to Succeed - San Jose, CA
4. Frequently Asked Questions
5. Jim Rohn Testimonials - Oct. 27- Nov. 2
6. Featured Specials This Month/What's New at jimrohn.com
7. NO SPAM POLICY!
8. How to Subscribe/Unsubscribe/Forward Our E-zine
9. Jim Rohn Bio, Contact and Copyright Information



1. DIVIDING THE FINANCIAL PIE by Jim Rohn

I believe real-life economics must be one of the most glaring omissions in our educational system. I say this because in my travels to lecture throughout the world, I constantly run into otherwise well-educated people -- doctors, lawyers, top corporate personnel, even entrepreneurs -- who haven't the vaguest idea as to how to manage their finances.

So if you will indulge me, I would like to share a simple formula of how money should be allocated for the creation of wealth.

Taxes -

Yes, I did say taxes. I realize that the topic of taxes may seem like a strange place to begin the discussion of creating wealth. And yet throughout our lives, whether young or old, we must learn the necessity of paying taxes. And as soon as they have any money at all, our children, too, must learn that when they spend money they immediately become consumers. And all consumers of goods and services, no matter how young, must pay taxes. Why?

Because we have all agreed to live as a society, and for that society to function properly, there are some things we cannot do for ourselves alone. For example, we cannot each build a piece of the street. The machinery would be too expensive, and it would take too long to learn how to use it. So we have a government. And a government is made up of people who do things for us that we cannot or do not want to do ourselves. Because the streets, the sidewalks, the police, and the fire department must all be paid for, we've agreed to add some money each time we buy something and give it to the government.

We then move on to federal taxes. Here is a good way to explain federal taxes. I call it "The Care and Feeding of the Goose that Lays the Golden Eggs." It's so important to feed the goose -- not to abuse the goose or tear off its wings -- but to feed and care for it.

What's that you say? The goose eats too much? That's probably true. But then, don't we all eat too much? If so, let not one appetite accuse another. If you step on the scales and you're ten pounds too heavy, you've got to say, "Yes, the government and I are each about ten pounds too heavy. Looks like we both eat too much." No question about it. Every appetite must be disciplined -- yours, mine, and the government's. Hey, we could all go on a diet!

My mentor, Mr. Shoaff urged me early on to become a happy taxpayer. Now, I must admit it took a while, but I finally did become a happy taxpayer. Part of this transformation occurred when I began to understand the function of taxes and that it is right for everyone to pay his or her fair share.

I finally decided I didn't mind picking up my share of the tab for defense. It's so necessary for our safety as a country to keep the international bullies away. Some people say, "Why bother with all that expensive equipment? They won't come over here." Obviously, those people haven't been reading their history books.

Others say, "We're not about to pick up the tab for defense." Well then, I suggest they go to a place which doesn't offer defense as part of the package. If one is going to enjoy the benefits, one should pay a share.

Now, let me add this: Don't pay more than you should. By all means take advantage of the incentives. They were given to you as a reward for channeling your money into areas the government thinks help the economy.

All I'm saying is that when everything has been computed, all legitimate deductions have been taken, and you reach that last line on your income tax form, whatever the amount, pay it. And pay with happiness, knowing that you're feeding the goose that lays the golden eggs - the golden eggs of freedom, safety, justice, and free enterprise. Some goose! Some eggs!

The 70/30 Rule -

After you pay your fair share of taxes, you must learn to live on seventy percent of your after-tax income. This is important because of the way you'll allocate your remaining thirty percent. The seventy percent you will spend on necessities and luxuries. The thirty percent? Let's allocate it in the following ways:

1) Charity

Of the thirty percent not spent, one-third should go to charity. Charity is the act of giving back to the community that which you have received in order to help those who need assistance. I believe that contributing ten percent of your after-tax income is a good amount to strive for. (You may choose a larger or smaller amount -- it's your plan.)

The act of giving should be taught early in life. The best time to teach a child the act of charity is when he gets his first dollar. Take him on a visual tour. Take him on a tour of a place where people are truly helpless so that he learns compassion. If a child understands, he won't have any trouble parting with a dime. Children have big hearts.

There is another reason why the act of giving should be taught early and when the amounts are small: It's pretty easy to take a dime out of a dollar. But it's considerably harder to give away a hundred thousand dollars out of a million. You say, "Oh, if I had a million I'd have no trouble giving a hundred thousand." I'm not so sure. A hundred thousand is a lot of money. We'd better start you early so you'll develop the habit before the big money comes your way.

2) Capital Investment

With your next ten percent of your after-tax income you're going to create wealth. This is money you'll use to buy, fix, manufacture, or sell. The key is to engage in commerce, even if only on a part-time basis.

So how do you go about creating wealth with the ten percent of your income you set aside for that purpose? There are lots of ways. Let your imagination roam. Take a close look at those skills you developed at work or through your hobbies; you may be able to convert these into a profitable enterprise.

In addition, you can also learn to buy a product at wholesale and sell it for retail. Or you can purchase a piece of property and improve it. And if you're fortunate enough to work at a place where you're rewarded for additional productivity, you can work for more income and use this income to invest in an ownership position through the purchase of stocks.

Use this ten percent to purchase your equipment, products, or equity -- and get started. There is no telling what genius lies sleeping inside you waiting to be awakened by the spark of opportunity.

Here is an exciting thought! Why not work full time on your job and part time on your fortune? Why not, indeed? And what a feeling you'll have when you can honestly say, "I'm working to become wealthy. I'm not just working to pay my bills." When you have a wealth plan, you'll be so motivated that you'll have a hard time going to bed at night.

3) Savings

The last ten percent should be allotted to savings. I consider this to be one of the most exciting parts of your wealth plan because it can offer you peace of mind by preparing you for the "winters" of life. And through the magic of compounding interest, greatly aided by the new tax-free retirement programs available to every working person in this country, you can accumulate a princely sum over the years.

Let me give you the definition of "rich" and "poor." Poor people spend their money and save what's left. Rich people save their money and spend what's left.

Twenty years ago, two people each earned a thousand dollars a month and they each earned the same increases over the years. One had the philosophy of spending money and saving what's left; the other had the philosophy of saving first and spending what's left. Today, if you knew both, you'd call one poor and the other wealthy.

So, I'm asking you to not only be a happy taxpayer, but to also remember that giving, investing and saving, like any form of discipline, has a subtle effect. At the end of the day, a week, a month, the results are hardly noticeable. But let five years lapse, and the differences become pronounced. At the end of ten years, the differences are dramatic.

And It all starts with the same amount of money -- just a different philosophy.


To Your Success,
Jim Rohn


To read previous articles, quotes and Q and A from the Jim Rohn Weekly E-zine archives, or to get a complete listing of Jim Rohn's books, audios, videos and seminar schedule or to place an order; please click on the Directory Links or call 800-929-0434 M-F 8:30-5:30 CST


2. VITAMINS FOR THE MIND

Vitamins for the Mind are a weekly sampling of original quotes, on a specific topic, taken from The Treasury of Quotes by Jim Rohn. TTOQ are a collection of over 365 quotes on 60 topics gathered from Jim's personal journals, seminars and books spanning over 35 years. This week's topic:

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!


To order or to get more information on the TTOQ by Jim Rohn, or excerpts from the TTOQ by Jim Rohn, Brian Tracy or Mark Victor Hansen, please go to our site and see details on our Featured Specials. GIFTS THAT INSPIRE AND MOTIVATE!


3. SCHEDULE UPDATE -

The Challenge To Succeed with Jim Rohn
December 14, 1999 - San Jose Civic Auditorium

To receive more information, please call: Advance Performance Concepts at 800-553-0840


4. FREQUENTLY ASKED QUESTIONS

Each week we take one or two specific or frequently asked questions about or addressed to Jim Rohn and provide the answer.

Q1. We have received numerous inquires about Jim's public seminar schedule, asking if we have any other dates besides what is posted in this week's E-zine and on our website.

A1. Currently Jim's only publicly scheduled program is December 14 in San Jose, Ca. The promoter's phone # is: 800-553-0840 to get further details. The rest of Jim's current schedule is with private/corporate clients. Any future updates on public seminars with Jim, will be published in our weekly E-zine and on the Speaking Schedule Thanks again.


"Part of your heritage in this society is the opportunity to become financially independent." Jim Rohn


5. Jim Rohn Testimonials - Oct. 27- Nov 2

Here is a sampling of the testimonials and comments we received this week from E-zine subscribers.

We listened to the audio: "PPL and Your Future." We thank you for this life changing, conversational audio. It is making a difference in us! We are inspired and changed for the better now! God Bless and Thank you, Thank you, Thank you !!!!
-- Tom and Nancy Indingaro, Pre-paid Legal Services, Inc.

Jim is the best.
-- Warren R. Lippert, Sierra Wes Drywall

I heard you speak in Nashville, TN and the way you presented your message helped me see what I have been missing in my business life. Thank you so much!
-- Ron M. Russell

Jim Rohn is one of the most inspiring men I have ever "met." He has had a huge impact on my life.
-- Sharyl L. Richardson, The Pampered Chef

I have listen to Jim the past four years, and I feel as if I know him personally because I listen to him everyday. "The Challenge" is right in front of me at my desk. I look forward to the day that I can meet Mr. Rohn personally. I have recommended this man to a lot of my friends and negative relatives. Thanks a lot Jim.
-- David Joseph McKee, Pre-paid Legal

Jim, Thanks for being my mentor. Even though I just recently became a subscriber to your E-zine, and we don't have in-depth conversations, I have listened to some of your tape series and enjoyed them very much. I will continue to enjoy this 'zine, and read books by Ziglar, Robbins, and many others to encourage myself and those around me.
-- Michael McAninch

Mr. Rohn Sir, since being introduced to your seminars on cassette, our vehicle has truly become a mobile university. For your inspiration, encouragement & practical help in matters (amongst many others) such as the importance of and how to set goals -- we sincerely thank you. You will never know how you have helped to reshape our lives. Sincerest gratitude.
-- Geoff & Fiona Webb, Kleeneze Europe Ltd - England

Jim is the greatest. So much knowledge. He shares it like no one else can.
-- Mark Vollrath, Digital Direct

Thank you, E-zine readers, for the sincere and kind words of encouragement and appreciation!
-- JRI


"Where you start in the marketplace is not where you have to stay." Jim Rohn


6. Featured Specials This Month/What's New at jimrohn.com:

1) 20-60% off on all products through 12-31-99.

2) Four free bonuses with every order $10 or more through 11-10-99 (see the Online Catalog for details).

3) Visit our Featured Specials section and find even greater discounts on our October specials including; The Challenge to Succeed, The Weekend Seminar, The Whole Jim Rohn Package, The Five Day Seminar Package and Excerpts from the Treasury of Quotes.

3) Now find single audios by Jim Rohn, journals, books on disk, motivational gift ideas and closeout specials (in addition to Jim's complete library of books, audios and videos) in the Online Catalog.

4) Up to date archives of Jim Rohn's past E-zines, plus the new Resource Center which contains Articles, Vitamins for the Mind, Q and A, testimonials and more.


7. PRIVACY/NO SPAM POLICY!

NO SPAMMING OR LIST SHARING! You can rest assured that your subscription email address will be kept in the strictest confidence. We do not divulge, nor make available to any third party, our subscription list. Your privacy is paramount to us! Therefore it receives the respect it deserves!

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9. Jim Rohn Bio, Contact and Copyright Information:

If you have any questions, or need additional information on Jim Rohn's speaking schedule, products, corporate speaking fee, or if you would like information on becoming a distributor for J im Rohn International through our Affiliate programs, please contact us via email: info@jimrohn.com

Jim Rohn is considered to be America's Foremost Business Philosopher, with a career that has spanned over 35 years and touched the lives of over 3 million people worldwide. He has been internationally hailed over the years as one of the most influential thinkers of our time and has helped motivate an entire generation of personal development trainers as well as hundreds of executives from America's top corporations. He's been described as everything from a master motivator, to a modern day Will Rogers... to a legend.

(Click on Rave Reviews to find out what others who have experienced Jim Rohn live, including Tony Robbins, Harvey Mackay, Les Brown, Mark Victor Hansen, Brian Tracy, Vic Conant and others say about Jim Rohn - his philosophies and his message.)

The contents of this E-zine may be copied, reproduced, or freely distributed for all nonprofit purposes without the consent of the author as long as the author's name and contact information are included. Example: Reproduced with permission from the Jim Rohn Weekly E-zine: subscribe at: www.jimrohn.com **

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THANK YOU FOR READING. HAVE A GREAT WEEK!

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