• 03:38:21 am on June 1, 2009 | 9
    Tags: , , , ,

    Did I Tell You I’m Afraid of Heights?

    Isn’t there a song that goes: “you picked a fine time to tell us, Lee ….“? 😛

    But, it’s never too late, especially not for Lee … and, I’m sure that there are some great ideas out there … so, let’s get them ‘out there’ and help Lee!

    ________________

    Now is a heck of a time to share this revelation but I’m afraid of heights, so much so that if there was a social network for ladders you would find me at the bottom.  This journey Making Money 101 so far has been a great learning and relearning experience causing me to admit some great failures in my past.  But I have learned that like in the Bible not all failures are “unto death” they just feel like it. So my learning has been that in order for me to make my number of $4,000,000 by 20019 I need to do some house cleaning, house building and house hunting.  My biggest failure and yes my greatest need at this point is to establish some savings so I will have something to work with when I launch out into Making Money 201.

    Debt retirement is not really a problem for I have no debt except my home ,vehicles and student loans. The vehicles will be paid off in less than a year.  Sensible Savings for me would be any savings which is better than I have had in the past.  I have established an ING account and am having some automatic withdrawals placed in it, so that’s a start.

    Cleaning up my spending style has been a real challenge and 10-1-1-1 exercise and recording my spending opened my eyes pretty quick.  So guess what I have a little bit more money now because I’ve adjusted my spending but I’m still a long way from where I want to be.

    I calculated my required Annual Compound Growth Rate and it came up 131.88%. Oh great now I really concerned.  It’s kinda like being sized for a space suit only to find out you have to have oxygen also.

    As I stand on the launch pad I am keenly aware that I need some active income, I would like to do some investing and am trying to figure out how to begin. Sensible Investment keeps coming to mind.

    Small Business perhaps online type is where I would really like to go and something that my son and I could join together is my preference.  The issue is a product.

    Bottom line,  what is holding me back? Two things (1). Lack of funds to invest in any effort and (2). Fear of heights.

    On a personal note: Please forgive my tardiness with this post, that’s what happens when you stand at the bottom of a really tall ladder and refuse to look up.

    When I actually begin to climb I just hope I don’t have to look down.

     

Comments

  • Scott 7:13 am on June 1, 2009 | #

    Lee, I think the best advice I can give you is that when you are standing at the bottom of that ladder, a bit worried about the height to the top. Place a greater prize at the top of that ladder, one who’s joy, gifts, purpose and service to others and yourself is far greater than the fear you feel inside!

    Dare yourself to live the life you where ‘created’ for. 😉

  • Josh 9:58 am on June 1, 2009 | #

    2 Timothy 1:7

  • Lee 1:41 pm on June 1, 2009 | #

    Don’t ya just love it when the preacher gets preached at? Thanks guys.

  • Scott 1:49 pm on June 1, 2009 | #

    Lee that’s what we are here for brother. Help each out, keep each other on vision, on track and on a higher purpose. 🙂

  • Adrian 12:08 am on June 2, 2009 | #

    @ Scott – that’s ‘brother’ with a capital B 😛

    @ Lee – my job is SO much easier when I have 6 other MITs to help … ditto for any of the group 🙂

    I should add that you need to find a path that is quick and requires little capital; the good news is that if you do (find one that requires little capital) your down-side risk is also limited, because nobody wants you to fall off the ladder, more so, hurt yourself badly if you do …

    We already commenced a discussion on this (some time ago) offline (well, via e-mail), so it’s time to start bringing it into this forum: I think that you need to build a ‘Lee’ Brand … review your earn/do/spend/ability table to help you find the areas where you can be most passionate: http://7m7y.com/2009/01/06/my-growth-engines/

    Then think about how Lee can get his name out there as THE go-to guy … we’ll then look at how to turn that into Lee Inc. as the MM201 phase of this ‘grand experiment’ progresses …

    Any thoughts?

  • Scott 5:29 am on June 2, 2009 | #

    I completely agree Adrian. I think Lee should go straight to the focus of coming up with his business idea and niche and go to work on it ASAP. As he begins to build this business and it begins to produce income for him, he can apply this income to what he’s learning to do in Money Making 101, only I believe it will get him through it faster.

    I believe it will cost him a lot of money and time to wait until he perceives that he is through with Money Making 101. JMHO.

  • Adrian 3:53 pm on June 2, 2009 | #

    @ Scott – Agree! In fact, the name MM101 (and MM201/301) is a misnomer in that it seems to imply sequential stages … nothing could be further from the truth:

    MM101 is about building a habit/mindset to ensure that you maximize your return from MM201 and don’t squander MM301. As soon as you have that MM101 mindset set – 🙂 – move on! I believe that most of the MITs are ready for the next step …

  • Mark 9:47 pm on June 2, 2009 | #

    @Lee – You have our support! We have examples of people around us overcoming huge obstacles. Now, I need to go find some inspiration for myself as well.

    @Josh – Thanks for the reference. Looked it up on my iPod Touch. Hmm, anyone bought AAPL when we were talking about it a while ago?

  • The root of all evil? « How to Make 7 Million in 7 Years™ 3:13 am on June 12, 2009 | #

    […] if money is an evil, it’s a necessary evil – as even our resident chaplain (ret.) would be quick to tell you as he heads to his own “number of $4,000,000 by […]


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