“Here is a rule that will guarantee your success – and possibly make you rich: Invest 3 percent of your income back into yourself.” That’s great advice from Brian Tracy. I’m going to show you the formula that can double or triple your income. Stocks, bonds and mutual funds are for conservative people who just want to protect the money they already have. I will describe the only investing strategy I recommend if you want to exponentially increase your income. Invest in yourself. It will work for you whether you are employed or in your own business. It will work whether you make $10/hr or $1 million/yr.
Only 5% of the world understands that investing in self-development is the most valuable investment.
There is a direct correlation between the amount of time, money and energy I invest in self-improvement and the benefits I receive–not all of which are monetary.
We dive into this important rule even deeper in this week’s Podcast.
“Poor People Have Big TVs. Rich People Have Big Libraries.” Jim Rohn
I talk to people each week who desperately long for a new job or would like to start their own business. But when I suggest they invest in a coaching session or a $17 book they recoil in horror. Some state that they don’t want to spend any time or money. They just want me to tell them what to do. A recent 48 Days to the Work You Love purchaser wrote, “I don’t want to spend the time figuring out how to use this book. Isn’t there an easier way?” I apologized that I didn’t know any real shortcut. He’d have to actually read the book and apply it to his situation.
It perplexes me to think that anyone expects to get a great job or start a successful business without first putting forth a little effort. I’ve never seen success sneak up on someone; rather, I see it come as a result of having a clear personalized plan of action, and then investing the hard work and resources to allow success to come into view.
Consider the Turkey
We’re told that if you put a turkey in a pen that is 8’ x 8’ and is entirely open at the top, the bird, while we know it can fly, will remain a prisoner in that pen. The reason is that a massive bird like that cannot take off straight up. It has to have a run of 10-12’ to have the momentum to take off. Without space to run, it will not even attempt to fly, but will remain a prisoner in that small jail, even with an open sky right above its head.
I’ve never seen success operate any differently. Athletes don’t become superstars overnight. Actors don’t go directly to Broadway. Most business people try 3 or 4 things before finding one that works, and most first jobs are little more than a learning process. You can’t fly without first running and you can’t get to success without investing time, effort and money.
Decide what you’re willing to put into the process of bringing new success into your life. If you don’t allow yourself enough room to run, you’ll never fly.
Again – “Here is the rule that will guarantee your success – and possibly make you rich: Invest 3 percent of your income back into yourself.”
I recommend you start with 3% and increase to 5%
Hourly income = $12 Monthly income = $1920 ($25,000 Yearly Income)
3% = $58 per month
Listen to podcasts, use your library, and read one new book every month.
Start with See You At The Top by Zig Ziglar and How to Win Friends and Influence People by Dale Carnegie. You can purchase these and see many other recommendations on my reading list. Don’t get them at the library. BUY them and start your own library. It will change your mindset. Don’t just look for ways to do the things I’m laying out here for Free. I want you to invest your hard-earned dollars in the process. Because there’s a principle at work here. Many of you likely believe in the principle of the tithe – and you believe that if you stop giving that 10%, the blessings of God will stop coming to you.
I believe in this principle every bit as much as tithing. I have seen in my own life and time and time again in the lives of others that if they don’t act on this principle, their life remains pretty much the same. And if they DO act on it, the doors of opportunity and success are thrown open, and they don’t want to break the cycle of return that this principle offers.
Subscribe to two magazines: SUCCESS, INC, Fast Company, Entrepreneur, etc.
Hourly income = $15 Monthly Income = $2400 ($31,200 Yearly Income)
3% = $72 per month
Subscribe to Audible, and read two new books every month.
Join 48DaysEagles.com. Connect with others who are on this same path as you who will not only shares ideas and resources with you but will encourage you and cheer you on.
Hourly income = $20 Monthly Income = $3200 ($41,600 Yearly Income)
3% = $100 per month
Attend a local conference, subscribe to Audible, read two books a month.
Write down your income – either hourly or annually ___________
What are three things you’re doing already to invest in your personal growth?
Yearly Income = $50,000
5% = $208 monthly – $2500 annually
Yearly Income = $65,000
5% = $270 monthly – $3250 annually
Select three online courses (Udemy, Lynda, Creative Live, etc.), read two books a month, join a health club. Sign up for the Dale Carnegie Human Relations program. That was a game changer for me as a shy little farm kid. It propelled me into having the confidence to teach, coach and find profitable speaking engagements.
Yearly Income = $100,000
5% = $416 monthly – $5000 annually
Meet with a nutritional coach, attend art classes, plan a weekend getaway with your spouse to review your annual goals, read two books a month.
Yearly Income = $150,000
5% = $625 monthly – $7500 annually
Go on a themed cruise, plan a European trip, attend classes at Oxford University, read two books a month, apply to 48Days Mastermind.
Yearly Income = $300,000
5% = $1250 monthly – $15,000 annually
Take some pottery classes, go on a spiritual retreat, read two books a month.
Yearly Income = $650,000
5% = $2700 monthly – $32,500 annually
Consider a high end retreat (Tony Robbins, Brendon Burchard), check out Strategic Coach, read two books a month.
I just got back from our 48 Days Cruise – 7 days at sea. Our theme was Living Well Doing Good. Then Joanne and I spent another week on Don Pedro Island off the western coast of Florida. All of that fits in this personal development investment category – not in some vacation budget.
Yearly Income – $1,000,000
5% = $4150 monthly = $50,000 annually
Join Genius Network, go to that fabulous retreat in Fiji, read two books a month.
I detest going to the mall, but this is the kind of shopping I enjoy. You can give me a $2,500 shopping spree at the local mall, and I’ll struggle to find anything I want. But when it comes to investing in knowledge and personal growth, suddenly I have no trouble coming up with a wish list. It’s fun to think, “OK, I have $2,500 to spend on my own personal growth. How shall I do it?” I think I’ll buy 30 shares of better health, 10 shares of podcast knowledge, 12 shares of communication skills, and 20 shares of relationship building.
See this as “investing” not “spending.” If you purchase a 65″ TV you just spent that money, and your expense is depreciating every minute. If you “invest” in yourself through a course that opens the door to a new opportunity, that investment can go up in value from the minute you begin.
Reach beyond what you think you can afford. It will accelerate your success!
You can also use this fund for new and better computers, microphones and sound mixers, garden equipment or a new tennis racket.
Yes, I believe in the value of 48DaysEagles – at $30/month (My thinking about this formula was prompted by questions about our new community.)
You don’t have to do that. But if you aren’t doing that then I’d like to know where you are investing your 3-5%. I know that for me, if I stopped that investment, I would expect my growth and increasing success to stop as well. I challenge you to not block the flow of talent and opportunity that is waiting to surge through you.
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