Profits are better than Wages …

Profits are better than wages. Wages are a measure of what someone else thinks you are worth. Profits are a better measure of what you are worth because they are based upon your effort alone. Consider starting a business out of your home. It can be very rewarding both mentally and financially. How many existing businesses today can you think of that started in someone’s garage or basement?

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5 Lessons

The European Fiscal Crisis and lessons for America

Very informative regardless of your political orientation. Please comment and share with others.


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Do you have a Plan B?

In this uncertain economy, if you have a job, you probably consider yourself lucky. However, just having a job is not cutting it these days. Wages have been flat and everything seems to cost more. In past years we would at least get a small cost of living raise each year but now bosses are asking you to accept a pay freeze if not an actual pay cut. You cannot ask your boss for a raise for fear of losing your job. So what is a person to do?

My answer, was to look for a home based business that I could work on my own time and schedule. Something that I could build with my own sweat equity that could supplement my regular income. I am not talking about thousands of dollars. Most families could get by very nicely with an extra couple of hundred dollars each month.

There are too many very good home based business opportunities for me to catalog here. When considering a home based business you need to consider three things.

  1. The Company
  2. The Product or Service
  3. The Compensation

I want to tell you about Pre-Paid Legal Services Inc. which is now called LegalShield. My wife and I have been Pre-Paid Legal members since 1993. We have used the service numerous times over the years saving us literally thousands of dollars.

The Company
The founder of Pre-Paid Legal Services saw an opportunity after he was involved in a car accident and was sued even though the other driver was cited for causing the accident. He spent a good portion of his savings defending himself in court. He got the idea that there should be a better way to pay for legal services. After doing some research he found out that prepaying for legal services was already being done in Europe. He thought that we prepay for our health insurance and our auto insurance so why not for legal services?

Today Pre-Paid Legal Services Inc. works with top rated Law Firms in all 50 states providing access to Attorneys for a small monthly fee. Those small fees collected from thousands of members are paid to the provider law firms monthly.  Those small fees make Pre-Paid Legal Members as important to the law firm, if not more important, than their wealthiest client. This insures that no matter how trivial or traumatic the issue Pre-Paid Legal Members get the top notch service that they deserve.

The Service
How much would you guess you would have to pay a law firm each month to receive the following benefits?

  • Contact an Attorney for Legal Advice for Unlimited Issues
  • Have Letters written and Phone Calls made on your behalf
  • Have contracts and documents reviewed (up to 10 pages)
  • Have an Attorney prepare your Will, Living Will, and Healthcare Power of Attorney
  • Consultation and representation regarding Traffic related issues
  • Trial Defense
  • IRS Audit Defense
  • 25% Member Discount
  • 24/7 Emmergency Access to an Attorney for covered situations
  • Access to Online Legal forms

As a Pre-Paid Legal Services Member you receive all of the above benefits for $26/month or less!

The Compensation
As a Pre-Paid Legal Independent Associate you are compensated in three ways.

  1. Personal Advance Commissions*
  2. Team Overrides*
  3. Lifetime Residuals*

* For details please contact me directly or go to my website.



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Remember: nobody owes you a living.

“Don’t be misled into believing that somehow the world owes you a living. The boy who believes that his parents, or the government, or anyone else owes him his livelihood and that he can collect it without labor will wake up one day and find himself working for another boy who did not have that belief and, therefore, earned the right to have others work for him.”
David Sarnoff
Founder of NBC

“The man who labored for another last year, this year labors for himself, and next year will hire others to labor for him.”
Abraham Lincoln

These two quotes struck me as being very relevant in our world today.

Live Strong!


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The Tax System – Explained With Beer

The Tax System – Explained With Beer

Suppose that every day, ten men go out for beer and the bill for all ten comes to $100.

If they paid their bill the way we pay our taxes, it would go something like this:
* The first four men (the poorest) would pay nothing.
* The fifth would pay $1.
* The sixth would pay $3.
* The seventh would pay $7.
* The eighth would pay $12.
* The ninth would pay $18.
* The tenth man (the richest) would pay $59.

So, that’s what they decided to do.

The ten men drank in the bar every day and seemed quite happy with the arrangement, until one day, the owner threw them a curve.

‘Since you are all such good customers,’ he said, ‘I’m going to reduce the cost of your daily beer by $20.’
‘Drinks for the ten now cost just $80.’

The group still wanted to pay their bill the way we pay our taxes so the first four men were unaffected. They would still drink for free. But what about the other six men – the paying customers? How could they divide the $20 windfall so that everyone would get his ‘fair share?’

They realized that $20 divided by six is $3.33. But if they subtracted that from everybody’s share, then the fifth man and the sixth man would each end up being paid to drink his beer. So, the bar owner suggested that it would be fair to reduce each man’s bill by roughly the same amount, and he proceeded to work out the amounts each should pay.

And so:
* The fifth man, like the first four, now paid nothing (100% savings).
* The sixth now paid $2 instead of $3 (33%savings) .
* The seventh now pay $5 instead of $7 (28%savings) .
* The eighth now paid $9 instead of $12 ( 25% savings).
* The ninth now paid $14 instead of $18 ( 22% savings).
* The tenth now paid $49 instead of $59 (16% savings).

Each of the six was better off than before. And the first four continued to drink for free. But once outside the restaurant, the men began to compare their savings.

‘I only got a dollar out of the $20,’ declared the sixth man. He pointed to the tenth man, ‘but he got $10!’
‘Yeah, that’s right,’ exclaimed the fifth man. ‘I only Saved a dollar,too. It’s unfair that he got ten times more than I!’

‘That’s true!!’ shouted the seventh man. ‘Why should he get $10 back when I got only two? The wealthy get all the breaks!’

‘Wait a minute,’ yelled the first four men in unison. ‘We didn’t get anything at all. The system exploits the poor!’

The nine men surrounded the tenth and beat him up.

The next night the tenth man didn’t show up for drinks, so the nine sat down and had beers without him. But when it came time to pay the bill, they discovered something important. They didn’t have enough money between all of them for even half of the bill!

And that, boys and girls, journalists and college professors, is how our tax system works. The people who pay the highest taxes get the most benefit from a tax reduction. Tax them too much, attack them for being wealthy, and they just may not show up anymore. In fact, they might start drinking overseas where the atmosphere is somewhat friendlier.

For those who understand, no explanation is needed.

For those who do not understand, no explanation is possible.

Schadenfreude on April 13, 2011 at 2:46 PM

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Boomers Find 401(k) Plans Come Up Short –

Depressing article … but one that everyone should read. We all need to be considering a Plan B. Working harder, longer, for someone else is not the answer. Maybe it is time to start thinking about starting your own business, part-time, just a few hours a week. That is what I did. I started my business 5 years ago and I just turned 60 last month. A tax professional helped me incorporate my business with the state. There are many positive things that happen to you when you own your own business.

First, you feel empowered, because you are in charge of your future.

Second, as an employee receiving a W2 you have very little control over how much you pay in taxes. As a business owner there are many legitimate business expenses that are tax deductible (contact your tax professional for more details).

Third, starting your own business does not have to be an expensive proposition. You can run your business from your kitchen table and meet with your client’s wherever it is convenient.

Lastly, we cannot rely on our employers, or our government for our retirement we alone are responsible.

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Tips for Starting a Home-Based Business

The Internet is an endless treasure trove of opportunities for home-based online business. All you need is a computer and Internet access, right? Well, not exactly. You will need to ask yourself a few questions before making your first sale. Questions like, What will my investment be? What products or services can I offer from my home?

The most ideal success story for a homemade business is selling a product or service. However, if you do not have such an ideal scenario, there are some other businesses that are aptly suited for the virtual realm.

Affiliate Marketing

As the name implies, your business will have an affiliation with another business (usually a merchandiser). You place their link on your website. When a visitor clicks on the link and makes a purchase, you earn a commission.

Direct Sales

A direct sales company will pay you a commission to promote their products by providing you with a start-up kit, support, sales training and other benefits.

Drop Shipping

Select a drop shipper and post their products on your website. You don’t handle any physical product because the wholesaler sends the product to the customer directly.

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3 Travel Tips for Busy Business Travelers

Even with today’s advanced communication tools, face-to-face meetings are still needed for building all types of business relationships. This usually means you’ll need to pack a suitcase and travel to your destination.

Whether taking a day trip by rental car or travelling via regional airport, there are some rules to follow to ensure your trip doesn’t turn into a disaster.

1. Pack Lightly & Smartly: You’re not moving away, it’s only a short business trip. Use trial size versions of toiletries, stuff items inside your shoes to save space, and roll clothes into a cylinder shape to reduce their size and chances of wrinkling.

2. Travel Agent or DIY: Unless your passport is plastered with visa stamps, recruit the services of a good travel agent. They have the experience and the peer connections to help find you the best rates and discounts.

3. Communication: Don’t rely on your cell phone for all communications. Between roaming charges and trying to place calls out of tower range, you could unintentionally cut yourself off the rest of society. Do some research beforehand and look for Wi-Fi hotspots or VoIP access in the area where you’re staying/working.

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