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Dr. Kalinda Rose Stevenson
Welcome To My No Money Limits Blog
The goal of “No Money Limits Blog” is to teach you how to get rid of the money limits in your life. Money limits are like speed limits on roads. When you drive, you encounter all kinds of speed limits. Some speed limits are set by law. Other speed limits are set by conditions. You can encounter stop signs, red lights, speed bumps, potholes, railroad crossings, and detours. Speed limits on the road slow you down.
Money limits also slow you down. The difference is that the money limits are not as obvious as speed limit signs, red lights, and stop signs.
Money limits come from beliefs, experiences, attitudes, and lack of knowledge about money. Money limits create different kinds of stop signs, red lights, speed bumps, potholes, railroad crossings, and detours in your financial life.
Speed limits on highways make sense. Money limits in your life simply keep you from having, doing, and being what you would have, do, and be if you had no money limits in your life.
The goal of my blog is to provide ongoing articles and information so that you can have “No Money Limits” stopping you from creating the life you choose.
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When Good Debts Go Bad
One of the most powerful ways to create financial abundance is to take on good debt. Good debt is money you borrow to finance investments. Good debt allows you to leverage OPM (other people’s money) to create wealth. Bad debt refers to money borrowed to buy something that will not bring a return on investment. My goal this week is to make the case that even good debts can go bad.
A good debt turns into a bad debt when you borrow money to invest and don’t make a return. In the worst situation, you even lose the borrowed money.
Are there any predictable reasons why good debts turn into bad ones?
One fundamental reason good debts go bad concerns timing. You invested borrowed money at the wrong time. Or you kept the borrowed money in the investment too long.
“In the real estate jungle, timing and strategy are the redwoods; everything else is a bonsai”.
Robert Campbell
Perhaps the most common piece of investing wisdom is to buy low and sell high. Whether it is the stock market, real estate, or another type of market, the ideal investment is to buy at a low price and sell at a high price. By following this strategy, you get the most return for your investment.
As with so many wise sayings, the concept is clear enough. The challenge is to be able to predict the high points and the low points.
“In the business world, the rearview mirror is always clearer than the windshield.”
Warren Buffett
I have been to several stock market courses, learning to read technical charts. It’s always easy to see trends when you are looking at the past. You can see the high points and the low points. It’s easy to identify exactly the right strategy for the situation when you are looking at what has already occurred.
Last week, I heard a fascinating talk about timing the real estate market. The speaker used charts and indicators to speak about California real estate. I live in the San Francisco Bay Area, where real estate prices have gone up and up and up and up. For several years, commentators have warned that prices are artificially high. They keep declaring, “At any moment, the bubble will burst and prices will drop.” Yet, despite these warnings, the prices keep going higher and higher.
Alan Greenspan made the same kinds of statements about the financial markets in the late nineties. He spoke of “irrational exuberance” driving up the prices of overvalued stocks long before the market bubble burst.
“Trends never end. They Only Change Direction.”
Robert Campbell
One of my favorite concepts is the “Law of Undulation.” C. S. Lewis originated the phrase in his book, The Screwtape Letters. The Law of Undulation means that everything and everyone operate in wave-like patterns of up and down and back and forth. Nothing stays the same and nothing operates in a straight line.
Lewis uses the Law of Undulation to claim that human beings tend to assume that the current situation will continue, no matter what the current situation is. Lewis speaks of the natural peaks and valleys of life, the emotional highs and lows. Yet when we’re down, we assume that we’ll always be down. When we’re up, we assume that we’ll always be up.
Despite the fact that everything in our natures and the nature of the world runs in wave-like cycles, our typical human inclination is to think that our lives are lived in straight lines. When we live with straight line attitudes in a cyclic universe, we don’t recognize the signs and signals that things are about to change.
Real estate markets also operate according to the universal Law of Undulation, with property values rising and falling at different times in different markets. Yet in hot real estate markets, it is easy to fall into the straight line trap and think that the prices will continue to rise indefinitely.
“Spotting the peaks and valleys of real estate cycles has always been the dream of both buyers and sellers. With the cyclical nature of the market, good times come and good times go, and then good times reappear again. The challenge for intelligent decision makers is to look for ways to profit from changing market trends, rather than just sitting back and – good or bad – passively accepting them.”
Robert Campbell
No one has an infallible crystal ball. You cannot predict with absolute certainty the results of any investment decision you make. However, you can improve the chances of your success considerably by understanding that change is the only constant. Ebbs and flows and ups and downs are the way of the world.
Good debts go bad when you don’t pay attention to trends and miss the signs that the trend has changed. Or worse, when you recognize that the trend has changed, but you hold on with the hope that the price will go up again.
This article was originally published January 25, 2005
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http://www.abundantlyalivenow.com/archive/AANN-2005-01-25.htm
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Good Debt, Bad Debt
May I ask a personal question? Are you in debt? And if you are in debt, do you have good debt or bad debt? Do you know the difference?
You might be asking, “How can debt be good debt? Isn’t all debt bad? Wouldn’t it be better to owe nothing to anyone? Isn’t financial independence all about becoming debt free?”
Do you want to know one of the best kept secrets of creating abundance? The secret is, Go into debt.
In the movie, The Matrix, Neo is offered two pills. The blue pill will allow him to maintain the illusion of the matrix. The red pill will show him the truth.
“You take the blue pill and the story ends.
You wake in your bed and you believe
whatever you want to believe.”
“You take the red pill and you stay
in Wonderland, and I show you how
deep the rabbit-hole goes.”
Morpheus, The Matrix
When it comes to debt, each of us is faced with a blue pill or red pill choice. The blue pill will tell you to pay off your debts. Save your money. Invest it in safe investments. The promise of the blue pill is that eventually this strategy will allow you to become debt free and financially independent.
Blue pill advice says, “It is up to you. The only money you will have will come from your own efforts. Scrimp, save, and slowly, slowly, you will begin to build a nest egg.” Blue pill advice is built on the idea that money is scarce, and the only way to get more money is to work for it.
The red pill strategy takes a different route. Instead of paying off your debts, you take on more debt. This red pill strategy flies in the face of what “everyone” knows to be true. Red pill advice says, “Use other people’s money, otherwise known as OPM, to get what you want.”
The truth is that the blue pill strategy is based on the illusion that you have to do it alone. If you follow the blue pill recommendations for getting out of debt and creating financial abundance, you will be limited to the little bit of money that you can earn and save through your own efforts.
Many of the deepest truths I learned about life I learned at Bank Street Beach, on Cape Cod, Massachusetts. As a young child, going to the beach almost every summer day, I took many buckets of water out of the ocean and poured the water in a hole I had dug in the sand. No matter how many buckets of water I took out, I never expected the ocean to run out of water.
It’s the same with money. There are oceans of money available on this planet. You might be deeply in debt. You might not have much money. The fact is, other people have lots of money. And the interesting truth is that many of the other people who have abundant money want to put their money to work making more money.
Put the two realities together. You would like to have more money and the people who have money would like to put their money to work. What do you have? You have the secret of creating wealth. The secret of creating wealth is good debt.
The essential insight is to know that the difference between good debt and bad debt is the difference between spending and investing. Bad debt is spending money on whatever does not create more money. In contrast, good debt allows you to use OPM to create more money. Another word for good debt is leverage. Leverage through good debt is a powerful means to financial abundance.
If you want to buy your plasma TV, you can get credit to buy it and you will repay the money with interest. Borrowing to buy a plasma TV is bad debt, unless you can figure out a way to make money with it. However, show people with money how you will create more money with their money, and you can get other people to invest their money in your efforts. They will charge you interest for the privilege. This is good debt.
About ten years ago, my husband and I had our own red pill, blue pill experiences. We went to see a financial planner to ask about investing. He told us that we had to pay off all our debts and amass a certain amount of money before we could start investing. He offered us a blue pill.
At about the same time, I went to an evening seminar put on by a mortgage broker, who explained how people could buy property with no money of their own. He offered us a red pill.
As a result of taking the red pill, we bought a $284,500 house with absolutely no money of our own. Since we didn’t have enough money for a down payment for a conventional blue pill mortgage, we got 100% financing through private money. Was the interest rate higher than blue pill mortgages? Of course. We paid 9% interest at a time when banks were offering mortgages for much less. The red pill truth is that paying 9% interest allowed us to buy a house we could not have bought with our own money.
We refinanced a year later when property appreciation allowed us to qualify for a conventional mortgage at a lower interest rate.
We recently had the house appraised for a refinance. After ten years, the house is now appraised at $680,000. That means we gained $395,500 without investing any of our own money. As a matter of simple math, the 9% interest we paid for a year resulted in an infinite rate of return for us.
“Perhaps one of the greatest “secrets” of the richest people in the world is summed up in those 3 words: Other People’s Money – OPM for short.”
Matthew Lesko
The essential point of the story is that we dipped into the ocean of abundant money available to us, and took on good debt. By using OPM, we have assets available that we would never have gained by following the blue pill advice of the financial planner.
If you are in debt, I encourage you to take a red pill rather than a blue one. The red pill secret is that you don’t have to do it all alone. When you use OPM to invest, you can create more return on your investment than you can by using your own money. By swallowing the red pill, you will create more money to pay off your bad debts than you will ever be able to make through your own efforts.
Creating your “abundantly alive now!” means knowing the difference between good debt and bad debt. Paying off bad debt is a critical part of creating financial independence. Taking on good debt is one of the most powerful tools you have available for creating abundance.
This article was originally published January 18, 2005.
http://www.abundantlyalivenow.com/archive/AANN-2005-01-18.htm
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Your Thoughts Are Magnets
“Our brains become magnetized with the dominating thoughts which we hold in our minds, and, by means with which no man is familiar, these “magnets” attract to us the forces, the people, and the circumstances of life which harmonize with our dominating thoughts.”
Napoleon Hill in Think And Grow Rich
During a period of time when my husband and I were beginning the transition from poverty consciousness to abundance consciousness, we were living in a rental house with almost no furniture. To save the expense of shipping, we had sold most of our furniture when we moved from one side of the country to the other. We had read somewhere about writing down a list of what we wanted to attract into our lives, and so we wrote down a list of basic furniture items. The list included a dining room table, chairs, a coffee table, and lamps. The list seemed very long. I don’t think that either of us expected much.
Not too long after we made our list, we had a conversation with a couple who were moving from their large house to a small retirement condominium. They had a houseful of furniture they couldn’t take with them. They talked about not knowing what to do with their furniture. The solution to their problem was the answer to our written request. They gave us everything we had written on our list.
How did it happen that a casual conversation with people we barely knew resulted in everything we wrote on our list? Was it luck? Was it coincidence? Who can explain why the simple act of writing down a list of furniture resulted in actual furniture?
Think And Grow Rich
“An intangible impulse of thought can be transmuted into material rewards by the application of known principles”.
Napoleon Hill in Think And Grow Rich
The classic book, Think and Grow Rich, by Napoleon Hill, attempts to explain the connection between thoughts and material reality. The ideas in Think and Grow Rich are the foundation of many success and wealth creation books. Frequently, extremely successful people attribute their success to reading this book, sometimes over and over again.
One of Hill’s fundamental ideas is that thoughts are magnetic, which means thoughts are attracting forces. Your thoughts will attract to you whatever is required to turn your thoughts into material reality. If you think thoughts of scarcity, these thoughts will attract scarcity into your life. If you think thoughts of abundance, these abundance thoughts will attract abundance into your life.
Without knowing what we were doing, we had followed Napoleon Hill’s essential step of writing down our definite desire for specific types of furniture. And these thoughts turned into the specific types of furniture we had written down.
We got our furniture even though we didn’t follow the model perfectly. We certainly wanted to have some furniture in our house, although we didn’t have an intense burning desire for it. It’s also true that we were not very specific. I don’t think there is a single item we received that I would have chosen if I had gone out shopping for furniture. We wrote down “lamps” and so we got lamps. We wrote down “a dining room table” and so we got a dining room table. If we had written down the specific kinds of lamps and tables and chairs we wanted, my subsequent experiences persuade me that we would have gotten exactly what we had written down.
It’s Not Magic
“Riches begin with a state of mind, with definiteness of purpose, with little or no hard work.”
Napoleon Hill in Think And Grow Rich
“Before we can accumulate riches in great abundance, we must magnetize our minds with intense desire for riches.”
Napoleon Hill in Think And Grow Rich
At this point, I want to emphasize something about this process that I didn’t understand when I began to read about the magnetic character of thoughts.
The process of turning thoughts into material reality does not involve a wizard waving a magic wand, saying “Presto-Chango! I want a lamp,” and having a lamp magically appear out of thin air. (In our quantum universe, I don’t doubt the possibility of having lamps materialize out of thin air. I have observed that most people who turn their thoughts into material things don’t do it with a magic wand.)
They do it the way we did it. They express their thoughts and attract into their lives the “forces, people, and circumstances” which will allow them to attract to themselves what they thought about.
In our case, we didn’t use any wizardry to get our furniture. No genie in a magic lamp appeared to grant our wishes. We simply wrote down what we wanted to have and people “happened” to show up in our lives who had the furniture we listed, and offered to give it to us.
What Are You Attracting With Your Thoughts?
I leave you with two thoughts. The first is that your thoughts are more powerful than you can imagine. You will attract into your life what you are thinking about, whether it is abundance or scarcity. If you desire to create an “abundantly alive now!” life, nothing is more important than to monitor your thoughts, and replace scarcity thoughts with abundance thoughts.
The second is to reinforce the point that you do not create anything by yourself. Your thoughts are magnetic. They will attract people and situations into your life. If you think limiting thoughts, your thoughts will attract people and situations that will produce limiting results. If you think abundance thoughts, your thoughts will attract people and situations that will allow you to produce abundance.
This article was originally published December 14, 2004.
http://www.abundantlyalivenow.com/archive/AANN-2004-12-14.htm
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© 2005 Kalinda Rose Stevenson, Ph.D.
Debt or Alive, Inc.
2248 Meridian Blvd. Suite H
Minden, NV 89423
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Make Friends With Money And Grow Rich
“You can make more friends in two months by becoming interested in other people than you can in two years by trying to get other people interested in you.”
Dale Carnegie
“If you make it plain you like people, it’s hard for them to resist liking you back.”
Lois McMaster Bujold
A friend once gave me a simple toy. It has two small rotors mounted on a small piece of wood. Each rotor has three arms with a magnet at the end of the arm. When you spin one of the rotors, the other will begin to wobble back and forth and then start to spin as well. The toy demonstrates magnetism.
Magnetism is one of the most fascinating of all of the forces operating in our universe. You cannot see the energy of magnetism, but you can feel it working.
Have you ever tried to push two magnets together when the magnets were trying to repel each other? No matter how hard you push, the magnets will not stick together. What happens when you turn one of the magnets? In that direction, the forces of attraction are so strong that the magnets lock together. You have to overcome the magnetic attraction to separate them.
Magnets and Creating An Abundant Life
So what do magnets have to do with creating an abundant life? If you think that money is simply currency, just stuff that comes out of an ATM machine, then you have missed the most important reality of money.
Money is a type of energy, just as magnetism is a type of energy. Money is also magnetic. It has the same properties as magnets, which means it will either be attracted to another magnet or repelled by it.
For the scientists among you, I ask you not to push the metaphor too far. The energetic rules of magnetism are that “like repels like” and “unlike attracts unlike.” That means the south pole of one magnet will repel the south pole of another magnet, but the south pole of the first magnet will attract the north pole of the second magnet.
With money, the magnetic rules are that “like attracts like” and “unlike repels unlike.” In other words, your thoughts about money are magnetic. The relevant question is, Do your thoughts attract money or do your thoughts repel money?
Do You Treat Your Money As Your Friend?
“There was a definite process by which one made people into friends, and it involved talking to them and listening to them for hours at a time.”
Rebecca West
To answer this question, let’s add another money metaphor and some more questions. Imagine money as a person. Then ask yourself how you treat your money. Do you treat money as your friend or do you think of money as a necessary evil?
Think for a bit about how you treat your friends. You share common interests, you like each other, you want to spend time together, you support each other, you get to know each other. There is an attraction between you. In other words, you are positively magnetic to each other.
Compare that with how you feel about people who are not your friends. You don’t like them, you don’t want to know anything about them, you don’t want to spend time with them, you don’t want to support them. These attitudes do not win friends and influence people. You are negatively magnetic to each other.
Actions That Attract Friends Also Attract Money
“Listening is a magnetic and strange thing, a creative force. The friends who listen to us are the ones we move toward. When we are listened to, it creates us, makes us unfold and expand.”
Karl Menninger
Actions that attract friends are the same ones that attract money. You like money. You welcome money into your life. You want to know more about money. You pay attention to money. You treat money well. You are glad you have money.
Actions guaranteed to drive friends away from you are the same ones that drive money away. You don’t want to know anything about money. You say you don’t like money, you don’t care about money, you don’t want money, you even think that money is evil.
The Secret
The magnetic nature of money means that money will be attracted to you when you treat it well. When you treat money badly, money will be repelled from you. The simple secret that will attract more money into your life is to treat money the way you treat your best friend.
This article was originally published December 7, 2004.
http://www.abundantlyalivenow.com/archive/AANN-2004-12-07.htm
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WARNING: BEFORE YOU INVEST IN REAL ESTATE…
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© 2004 Kalinda Rose Stevenson, Ph.D.
Debt or Alive, Inc.
2248 Meridian Blvd. Suite H
Minden, NV 89423
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Move Your Money Or Lose It
“For to all those who have, more will be given, and they will have an abundance, but from those who have nothing, even what they have will be taken away.” (Matthew 25:25)
Money Has To Flow To Grow
One of my college professors once made a remark that I didn’t understand. He said that very rich people had to work hard to keep their money in circulation. It was one of those passing comments that was a bit off the point of the topic of the class, and so he didn’t explain what he meant. At the time, I wondered why it was so important for the rich to keep their money in circulation. That was when I still thought currency was the same as money and long before I understood what the very rich have always known. Money has to flow in order to grow.
Money flow is much like the flow of breath. You need to breathe in and out. If the flow of air stops in either direction, you are in big trouble. If the flow stops long enough, you die.
It’s the same with money. Money is the oxygen of your life and it needs to flow in and out. When the flow stops in either direction, you will begin to have financial trouble.
You will certainly have financial trouble if you have no inflow of money. Lack of income is an obvious problem. You don’t need me to explain that you need some form of income in your life.
Stopping the Outward Flow Of Money
Although it might not be as obvious, you will also have financial trouble if you stop the outward flow of money.
Why is this a problem? Consider the classic case of hiding money under the mattress. The money under the mattress is no longer in circulation. A strange thing happens to money that is kept out of circulation. It loses value.
Consider someone who put a hundred dollars under the mattress in 1954. Fifty years later, the money hider still has currency with a face value of one hundred dollars-and a very old mattress. The actual worth of the hundred dollars is far less than it was in 1954 because of inflation. To give just one example, in 1954, you could mail a first class letter for three cents. In 2004, it costs thirty-seven cents to mail a first class letter. Just about everything costs many times more than it cost fifty years ago. Those hundred dollars will not buy as much as they did in 1954. By keeping the money out of circulation, the value of the money shrank considerably.
And The Rich Get Richer
In the New Testament, Jesus tells a parable about a rich man who gave money to three of his servants. He distributed five coins to one servant, two coins to the second servant, and one coin to the third servant.
The parable says that the servant with five coins went out, invested his five coins, and had a hundred percent rate of return, giving him five more coins. The second servant took his two coins, invested them, and also had a one hundred percent rate of return, giving him two more coins. The third servant did the equivalent of hiding his coin under the mattress. He buried it in the ground.
The story says that after a long time, the master came back and demanded an accounting of the money. The first servant handed over the ten coins and the second servant handed over the four coins. The master congratulated both for being trustworthy.
When the third servant had to account for his one coin, he explained that he was afraid of the master and so hid his coin in the ground. Within the explanation, the servant also made clear he didn’t approve of the way the master created wealth.
The result of the story is that the master took the one coin away from the servant who hid the money and gave it to the servant with ten coins, with the statement, “For to all those who have, more will be given, and they will have an abundance, but from those who have nothing, even what they have will be taken away” (Matthew 25:25.)
This parable gets to the essence of why the rich get richer and the poor get poorer. The rich know that money has to circulate to grow. The poor think that the way to have money is to save it, which is another way of saying that they keep it out of circulation. By saving it, they end up losing it.
Safe Investments?
You might be saying, “I am not hiding my money under a mattress. I am putting my money into safe investments, such as money market funds and CDs.”
The reality is that such “safe” investments are not much better than hiding money under a mattress. In this era of low interest rates, the interest earned is not keeping up with the rising inflation rates. The longer you let your money sit out of circulation in a safe place, the more value your money loses.
The Power of Compound Interest
Compound interest is the eighth wonder of the world. (Attributed to Benjamin Franklin)
“Compound interest is the world’s greatest discovery.”
(Attributed to Albert Einstein)
“The most powerful force in the universe is compound interest.”
(Attributed to Albert Einstein)
The essential point is that money in circulation can increase in value through the power of compound interest.
The Money Secret of the Rich
The money secret of the rich is to “Move It or Lose It.” Do what the rich do, and keep your money in circulation by investing it at rates of return higher than the rate of inflation.
This article was originally published November 16, 2004.
See the original article at:
http://www.abundantlyalivenow.com/archive/AANN-2004-11-16.htm
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Creating Value
“If you really do put a small value upon yourself, rest assured that the world will not raise your price.”
Anonymous
“Never… ever suggest they don’t have to pay you. What they pay for, they’ll value. What they get for free, they’ll take for granted, and then demand as a right. Hold them up for all the market will bear.”
Lois McMaster Bujold, A Civil Campaign, 1999
How Do You Create Value?
One essential step toward creating unlimited wealth is to stop trading your time for money and to get paid for your value instead of your time.
The question is, “How do you get paid for your value?” The answer is surprisingly easy. You create something of value to sell.
What is essential to understand is that value is directly related to perception. Nothing has any inherent monetary value. Something has value only because people perceive that it has value.
Here’s a powerful example of creating value through perception. Do you know that portobello mushrooms are not a distinct variety of mushrooms?
The portobellos are simply brown crimini mushrooms that are about 4 inches to 6 inches in diameter. I once read a newspaper interview of a produce wholesaler. He said that they used to throw out the crimini mushrooms that were too big. They were considered worthless.
Then some bright marketer had a brilliant idea. Instead of throwing out the overly large crimini mushrooms, the produce marketers starting calling them portobellos.
Mushrooms that were once tossed in the garbage as worthless are now sold as gourmet mushrooms for $5.79 a pound. Portobellos appear often in restaurant menus as the “vegetarian meat.”
I did a search on Google and found more than 50,000 entries for portobello mushrooms. Not bad for something that only recently was considered worthless.
The story of how a worthless mushroom became a gourmet variety sold at premium prices can teach you much about how to create value.
Are You Annoyed?
This story can also demonstrate one of the reasons why so many honest and hard-working people struggle with money. Pay attention to what thoughts enter your mind when you consider how monetary value is artificially created by marketing campaigns. Are you a bit annoyed that what you pay can be so easily manipulated by clever marketing?
Here’s another example. The diamond industry created the tradition of using diamonds as the essential stone for engagement rings. Men who put themselves deeply into debt to buy an impressive rock for their fiancées are responding to the perceived value created by the South African diamond industry.
At the same time, many people are deeply offended that teachers are paid pittances while professional athletes and entertainers are paid multiple millions of dollars.
A truism of marketing is that people will pay for what they want, not for what they need. One of the primary problems of people who are struggling to make the transition from employee or self-employed to entrepreneur is to see the value of what they have to offer. This why Anonymous tells the harsh truth. “If you really do put a small value upon yourself, rest assured that the world will not raise your price.”
The reality of the marketplace is that no one cares how many hours you work. They care about what you have to offer them that they want to buy.
Asking A Different Question
The fundamental difference between employees and the self-employed and entrepreneurs comes down to the questions they ask. Employees and the self-employed people ask, “How much can I get paid for my time?” Entrepreneurs ask, “How can I create value from this?” (whatever “this” is.)
The secret to increasing wealth is to attach value to something other people are willing to buy.
This article was originally published November 2, 2004.
http://www.abundantlyalivenow.com/archive/AANN-2004-11-02.htm
To Sign Up For This Newsletter
Please visit http://www.abundantlyalivenow.com
WARNING: BEFORE YOU INVEST IN REAL ESTATE…
FREE “No Money Limits Consumer Guide to Real Estate Investor Training.”
www.nomoneylimits.com
© 2005 Kalinda Rose Stevenson, Ph.D.
Debt or Alive, Inc.
2248 Meridian Blvd. Suite H
Minden, NV 89423
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