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ON YOUR OWN: A RECENT GRAD’S GUIDE TO FINANCIAL PLANNING

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Financial Planning Tips

Are you on the verge of graduating, or have you recently graduated? Well, congratulations! One of the best and most significant decisions you can make just after graduating is to create a financial plan right away. Even if you are not a personal finance pro, just by creating a simple financial plan, you’ll be giving yourself a huge head start in life. If you’re worried about the looming economic uncertainties, worry not, because there will always be economic uncertainties. It is just the way the world works.

With that being said, to help you get started on the right foot, we’re publishing this collection of simple financial planning strategies that you should adopt now that you’ve graduated and are on your own. So, if you’re ready to get your financial house in order, let’s dive into these financial planning tips.

Financial Planning Tips for New College Grads

Best Financial Planning Tips

1.   Live on a Budget

Creating a financial budget is the first strategy and the foundation for everything else that you choose for your financial management. If you want to avoid accruing massive sums of consume debt, begin growing your personal wealth fast, you must always be willing to be different from the average person. With that being said, the budgeting concept is straightforward but very difficult to execute.

To create a good budget, you should at least know how much you earn every month versus what you’re spending. In this case, if your expenses are higher than your earnings, figure out what things you can cut out a little or entirely. You can also consider getting yourself a part-time job to boost your income.

The key thing to remember, is to know how much you have coming in every month, what your spending that money on, and how much is left over. Do this for yourself, and you’ll be able to implement our other recommended financial strategies.

2.   Have a Savings Plan

After you evaluate your spending pattern, you should prioritize having a savings plan. Unfortunately, most graduates often place savings at the bottom of their priority list. However, making savings a top priority and having a disciplined savings pattern early, can help you better manage any doomsday scenarios that your career or the economy will throw at you in the future. In addition to this, having a savings plan will put your years ahead of your peers in terms of net worth if your start early.

It doesn’t matter how small your paycheck is, start saving as much as you can right away. Financial experts recommend an initial savings goal of 3-6 months of living on just basic expenses. This may be unachievable for a new graduate who is just starting their careers, but it sets an ideal long-term goal on which to work.

Related: 15 Tips For Retiring Early

3.   Learn Some Investment Basics

You should understand that saving and investing money are not the same thing. After you’re done setting up your saving account to a comfortable level, the next step is to think about other ways of investing your excess money. There are great investment options like stocks, bonds, real estate, or other financial instruments.

Of course with investing it is always a good idea to be cautious. Be ready to lose some money or all of it if you need higher returns. The golden rule here is the riskier the investment, the higher the potential return rate. If you’re making long-term financial goals like retirement, it would be wise to take more enormous investment risks early on, but the reduce your risk as your retirement date draws closer.

Of course, before you dive in to the investing world, it may be wise to read an investment book or two first.

4.   Have a Retirement Plan

Yeah, we know you just graduated, and retirement seems so far away! However, the earlier you have a retirement savings plan, the better off you’ll be in the future. Likewise, it will be easier to maintain a steady lifetime savings plan. Also, the sooner you start saving for retirement, the better the return package in terms of compounding and tax benefits. Some of the best retirement plans include:

a.    IRAs

This is the most common retirement plan as they have a wide range of investment plans. One can easily set up a financial institution to hold a certain amount of your total income for investments in stocks, cash, and bonds for retirement.

b.    401Ks

These are also commonly known as employer-sponsored retirement plans. The 401K plans include:

  • Defined Benefit Plans: These are commonly known as pension plans, where the company guarantees its employees a good retirement package. It is a rare type of plan these days in which the company puts money into one investment pool, and the pension plan invests in it.
  • Defined Contribution Plans: These are currently the most common types of workplace retirement plans set up the employers. In this setup, an automatic payroll deduction is enforced to enable employees to contribute to the company plan. The company contributes to your account based on your contribution level, for example, dollar for dollar. Withdrawal of this money is tax-free after retirement.

Speaking with a financial planner, accountant, or even a bankruptcy lawyer will help you figure out the best option when you get confused about retirement savings versus paying off debts.

Related: 7 Smart Financial Moves

5. Pay Off Your Debts

Paying off your debts after college should be a top priority after graduating. Debts can be the leading financial hindrance to your long-term financial plans. Prioritize with the debts that have a higher interest rate and set a time in which you shall have cleared these debts.  Also, pay off your credit card debt as quickly as you can.

If you have several debts spread out amongst different lenders, you may consider consolidating your loans. This may not be a great idea if you can afford to pay off these loans quickly. The end goal is to pay off your debts with the least expensive option.

Consolidation requirements may be strict, but they certainly help you to pay off your debts at a lower interest rate with only one lender and one payment to make. Whichever choice you make, put up a quick plan to clear your debt right away!

6. Setup a Healthcare Coverage Fund

Your parents may have covered your health care insurance plan while in college. Now that you are a graduate, you will have to secure your health coverage. If you’re lucky enough to work in a corporation, you may benefit from the health and medical coverage that they offer.

Not having a medical cover may cause a massive dent in your finances in case of a severe illness or accident. Secure your health care coverage for yourself soonest possible to be on the safe side.

7. Follow Your Passion

How can this be considered as a financial tip? Unfortunately, most people pursue career opportunities solely for financial gain, only to realize later that they can’t stand their jobs and then start over from the ground again. If you pursue a career purely for financial gains only, it may cost you more financially and personally than pursuing your passion.

Regardless of the financial concerns that you may have, save yourself from this misery early on by pursuing your passion. The truth is that money has a way of working itself out when you find a way to do what you love.

Related: How to Live With Passion

8. Be a Giver

Out of all of the recommended financial planning tips, this one is the most difficult for people. And while it may not sound like sound financial advice on the surface, giving is important. So, use the same approach in savings by committing a certain giveaway percentage of your income. The money can go into a charitable cause or your place of worship. If you maintain the discipline of giving money early in your life, you won’t feel a pinch when contributing to other areas of your life.

In some instances, you’ll even be able to write-off some of your contributions, saving you money come tax time. Of course, the returns you get from being a giver may not show up in your bank account right away, but you’ll certainly benefit from doing so psychologically, because it feels good to do good.

Wrapping Up Our Financial Planning Tips

The most exciting times of your life are the years after your graduation. The real key to achieving financial security is to start early by setting up a solid financial foundation. Unfortunately, many schools do not give these financial lessons, so the best way is to learn independently. Sure, you may face some setbacks, but don’t be afraid to make mistakes.

The great news is, if you follow these handful of financial planning tips, you’ll be way ahead financially than most. So, keep your focus on your financial goals, and it will only be a matter of time before you become a financial success.

Till next time,

STRIVE

Veronica Baxter is a writer, blogger, and legal assistant operating out of the greater Philadelphia area. She writes for the Law Offices of David Offen, who is a successful Bankruptcy Lawyer in Philadelphia.

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TYLER PERRY NET WORTH + HOW MUCH HE MAKES A YEAR

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Tyler Perry Net Worth 2022

Tyler Perry is an inspiring director, actor, filmmaker, best-selling author, and businessman. He’s the architect behind the extremely popular “Madea” character, as well as countless movies, stage plays, and television shows. He currently owns one of the largest production studios in the United States, a 330-acre lot in Atlanta, Georgia, and continues to produce highly entertaining and inspiring films and shows for people all over the world to this day.

That said, Tyler Perry’s long list of accomplishments have led him to amass an impressive net worth over the years. So, that’s exactly what this page will be highlighting, Tyler Perry’s net worth and his current earning power. In addition to this, we’ll also throw in a few interesting facts related to his success, influence, and inspiring life. So, let’s dive in.

What Is Tyler Perry’s Net Worth?

Tyler Perry Net Worth

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According to Forbes, Tyler Perry’s net worth was $1 billion back in 2020.[1] However, he’s been making big moves since then; acting, directing, and creating new films, Netflix shows, and more. Not to mention, he’s made over $165 million this year alone, and has been averaging an annual income of over $131 per year for past three years.

As such, we believe a more accurate approximation of Tyler Perry’s net worth should take into consideration how much he makes on average every year, and the average historical growth of the markets, which is 9.9%.[2]

That said, an up-to-date estimate of Tyler Perry’s net worth is around $1.3 billion,

How Much Does Tyler Perry Make Per Month

As mentioned above, Tyler Perry’s active earnings for the past three years is approximately $131 million a year. Again, according to Forbes, he made the list of one of the highest paid entertainers this past year, pulling in over $165 million in 2022.[3]

So, if you’ve ever wondered how much he makes per month, this metric below provides these earnings details by month, day, minute, second.

Tyler Perry Money Metric

Money MetricAmount
2022 Net Worth:$1,300,000,000
Earnings Per Year:$165,000,000
Per Month:$13,750,000
Per Week:$3,173,077
Per Day:$453,296
Per Hour:$18,887
Per Min:$314
Per Sec:$5.24

How Much Would Tyler Perry Make If He Retired?

If Tyler Perry decided to retire today, his baseline retirement income would be $58.5 million a year.

Assuming he moved his entire net worth of $1.8 billion into a few safe investments that pay out at least a 4.5% yield annually, (historically, “safe” is 3 – 5 % annually) this is what his baseline retirement income would be. Which is not too shabby of a retirement plan if you ask us.

Note: this is a hypothetical (but very possible) earnings metric for Tyler Perry based off of his net worth’s earning power alone.  It does not include how much he could potentially earn from projects, sponsorships, or social media, etc. Again, this calculation is for entertainment purposes only.

Tyler Perry Net Worth History

Tyler Perry’s road to riches was slow at first, but once he hit it big, his riches truly started to flood in. And this graph below provides a small glimpse at how fast his wealth has grown in just the last few years.

This wealth history graph goes back 4 years, starting in 2018, and demonstrates the significant growth of Tyler Perry’s fortune. According to our calculations, the growth rate of his wealth has been about 22% year over year for the past four years!

Tyler Perry Net Worth History

Fun Facts: 

  • Tyler Perry has 6.8 million Instagram followers, 15 million Facebook Followers, and 6.6 million Twitter followers. This comes out to a grand total of 28.4 million social media followers.
  • Tyler Perry was born September 13, 1969 in New Orleans, Louisiana U.S.A.
  • Perry’s birthname was Emmitt Perry Jr.
  • Tyler Perry has one son named Aman Tyler Perry
  • Tyler Perry dropped out of high school and then earned his G.E.D

Ho Did Tyler Perry Get So Rich?

Tyler Perry’s rise to riches was certainly no easy task. In fact, he spent many years working menial jobs, while simultaneously moonlighting to produce and act in, what would become his flagship play. This play was particularly important to Perry, as it was an account of his painful past, and was created to help others deal with their past.

That said, after six to seven years of trial and error to get his play off the ground and noticed by the public, he finally transformed his delivery into something people loved. Once word got out about his inspiring production, he began selling out theater after theater.

Tyler Perry Net Worth Quote

This initial success eventually lead to over $100 million in ticket sales, $20 million in merchandise sold, and $30 million in videos, even before the flood of opportunities from Hollywood would begin opening up for him.

Tyler Perry would go on to slowly star in and create many other plays after the stellar success he had with his primary play ‘I know I’ve Been Changed’. Then after maxing out the potential of those plays , he eventually took a leap into making it in Hollywood. 17 movies, 20 stage plays, and 7 television shows later, Tyler Perry has yet to look back.

Read Full Story: Tyler Perry Success Story

More Insights on How Tyler Perry Became a Billionaire

Here’s a short video produced by Forbes that gives great synopsis about Tyler Perry’s rise to riches as well. It’s only 3 minutes and 52 seconds long, but it’s worth it:

Video Credit: Forbes (Subscribe Here)

Related: Tyler Perry Success Quotes

Key Takeaways

 Here are some key Tyler Perry takeaways:

  • Net Worth of Tyler Perry:  $2.6 billion
  • Annual Earnings:  $165 million
  • Baseline Retirement Income: **$58.5 million
  • Social Media Followers:  28.4 million
  • Keys to Success:  Persistence, Faith

Success icon, Earl Nightingale once stated that “Perseverance is another word for faith.” And Tyler Perry’s inspiring success journey and sizeable net worth are true testaments to the size of his faith. Indeed, Tyler Perry’s fortune is directly related to his faith in his dreams, and his ability persevere against all odds until he reached his aims.

Now it’s your turn. Until you reach your aims,

STRIVE

PS – If you enjoyed this Tyler Perry Net Worth Profile, then you may also enjoy reading the net worth profiles of fellow entertainers like Kevin Hart, Will Smith, or Kanye West.

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13 PRINCIPLES OF PROSPERITY AND ACHIEVEMENT FOR CREATING A RICH LIFE

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Principles of Prosperity

Prosperity, that condition that just about everyone seems to be interested in acquiring more of these days.

We would venture to say, that prosperity is something that we are all hard-wired to pursue.  Oddly, it is also something that seems to elude all too many people.

While we don’t have the answers as to why prosperity is so elusive for a great many people, we have learned that there are a few helpful principles that can increase our chances of acquiring more of it.

As such, we wanted to share these principles of prosperity with you.  If you are a student of success, you may have already heard of some these principles.  If so, well, there’s nothing wrong with a little repetition.

Like Zig Ziglar use to say…“Repetition is the mother of learning, the father of action, which makes it the architect of accomplishment.”

THE 13 POWER PRINCIPLES OF PROSPERITY

prosperity principles

Acquaint yourself with these principles of prosperity, and by so doing, you will be inviting prosperity to show up in your life unannounced and in greater amounts.

Behold, ten principles that can help you find greater prosperity.

Prosperity Principle 1: Pareto Principle

The Pareto principle is a very well-known success principle. So, if the name sounds new, perhaps you’ve just heard of it under a different name, which is the 80-20 rule.

If you’ve ever heard of the 80-20 rule, the law of the vital few, or the principle of factor sparsity, then you’ve been exposed to the Pareto Principle.

In its essence, this principle states that, for many events, roughly 80% of the effects come from 20% of the causes.

For instance, 20% of the things you do will account for 80% of your results while 80% of the things you do will account for 20% of your results.

While such statistics may paint a bleak picture of our activities, is also a powerful bit of knowledge that you can leverage to better create and perfect your plans of action.

By understanding that it is typically only 20% of the activities that we do that get us 80% of our results, we can attempt to hone in on what those activities are.  And when we discover what those activities are, we then create the conditions for accelerating our results.

Another way that this principle can come into play, especially for those of you who are achievement-minded, is that it can help you better understand why some customers buy your goods and services, and why some won’t or don’t.

In other words, when 80% of the people you approach with your products, services, or opportunities say no, it can be helpful to keep in mind that the NO you received may not have anything to do with you, your product, or your service.  According to this principle, you’ll need to get through (on average) 5 No’s for every Yes.

Understand and apply this principle, and the odds will be in your favor.

Prosperity Principle 2: Parkinson’s Law

Now Parkinson’s Law is something all entrepreneurs, artists, or entrepreneurs should be aware of if they want to find more prosperity in their endeavors.

Like the last principle, you may have experienced this one in the past, but just haven’t been introduced to it ‘formally’.

Parkinson’s law was first articulated in an essay of The Economist in 1955.  However, it has been made more-or-less mainstream over the past decade.

The law essentially postulates that work expands so as to fill the time available for its completion.  If you have ever had some friends or co-workers who were given an easy task to do with a somewhat large amount of time to complete, and yet they somehow managed to stay extremely busy, spending an inordinate amount of time on a task that you could have finished in a day, well then, you’ve been acquainted to Parkinson’s Law.

This is essential knowledge for any would-be achiever, especially those are striving to get their idea, project, book, or dream off and running.

The understanding of this law can help you combat the programming that all too many of us may have experienced while working in conditions that didn’t required us to be 100% invested in our productivity.

Ultimately, if one truly cherishes having more time, leisure, and eventual prosperity, then fully understanding this principle is vital.

Prosperity Principle 3: Law of Averages

The law of averages is one of the most powerful principles of prosperity.

It would be an understatement to say that the law is very important to understand.  This law in summary is the idea that probability will influence all occurrences in the long run, and that you will neither win nor lose all of the time.

Here is a quick example of how this law works.

If it rains every day this week, by the law of averages we’re bound to get a sunny day soon. This colloquial term is a popular interpretation of a statistical principle called Bernoulli’s theorem.  As a seeker of heightened prosperity, this law becomes important especially when the time comes for going after the deals, the partnerships, and the sales.

The more you experience the no’s and failures in the pursuit of your ventures, the more likely you are over time, to experience that crucial yes and ultimate success.

To fully make our point, we refer to Babe Ruth.  Babe Ruth held the lifetime total home run record of 714 for 39 years.  But, what many people don’t know, is that he also held the career strike-out record (1,3330 strike outs) for 29 years.

The same success awaits the person in-the-arena, striving to make something out of nothing.  If you are willing to put yourself into a position where you may strike out, you will, by the law of averages, be increasing your chances of hitting your home run, and in turn finding more success and prosperity!

Prosperity Principle 4: Law of Association

I’ve mentioned this principle in past posts.  It really is something that needs to be taking into consideration as we strive to heighten the prosperity we are seeking in our lives.

This law is difficult to apply.  Unfortunately, it is one of the most important prosperity principles to implement if you we aim to make significant progress in our levels of personal prosperity.

prosperity principles - law of association

This principle suggests that we become like the average of the five people whom we spend most of our time with.

In short, this means that everything about you will average out to be in alignment with those five people whom you are currently spending most of your time with.

If you are hanging out with people who don’t have much, aren’t going anywhere, and don’t encourage you to grow, do more, acquire more wealth, guess who you’ll eventually transform into?

On the other hand, if you want to become more success-minded, positive, or wealthy, then it is a must that we strive to get around such people.

If you want to raise the quality of your life, hang out with people who have already accomplished what you are trying to accomplish.

It really is true, that birds of a feather flock together.

And the reason is, because they all have the desire to go in the same direction. They share a common vision.

So, if you’re going after a certain life goal or level of prosperity, pay attention to the people who have achieved what you are after, or are on track to do so.  Associate, associate, associate.

Related: Prosperity Quotes

Prosperity Principle 5:  The Law of Giving

The next prosperity principle is from a wonderful book we did research on years ago, but have found to be extremely valuable and relevant till this day…  The book is called the Go-Giver, by Bob Burg and John David Mann.

The core principle outlined in the book, is to aim to give, before we receive.   Yes, be a go-getter, but…more importantly, aim to be a go-giver.

Now here is a powerful quote from the book, that sums it all up very nicely…..

“All the great fortunes in the world have been created by men and women who had a greater passion for what they were giving – their product, service, idea… than for what they were getting.”

That’s a pretty powerful thought…..and when you think about it, it makes complete sense why those people who focus more on giving then getting, actually end up getting more….

Here is an example where we experienced this to be true …and it had to do with the sale of some properties we owned.  No too long ago, we sold two different properties, and we use a different realtor for each property.

One of the realtors we used wanted to make sure that we were taken care of…seriously taken care of every step of the way during the whole process of selling our house….

Now the other realtor, seemed to just want to do the bare minimum, and was more or less concerned with just getting the deal done and over with, so they could get what they earned….

The first realtor, went out of their way to keep us informed, did all the ground work-for us, just went above and beyond to serve us… to give to us, fully….in every respect.

The second realtor, well, it was like pulling teeth.  Every part of the process was an effort, we had to be more involved, we had to do more of our own due-diligence because of obvious errors or oversights that we caught early in the process…. Which forced us to be pro-active to ensure things were moving along as planned…and it was quite the frustrating experience if we are being completely honest….

Now, to circle back to those thoughts on prosperity…… can you guess which realtor earns multiple 6 figures per year?  Can you guess which realtor we recommended multiple times to our friends?  Can you guess which realtor we were chomping at the bit to write a positive online review for?  Can you guess which one we wanted to buy a gift for to show our appreciation?

If you guessed the first one, you’d be right.  Now how is this related to prosperity?  Well, because the first what gave, gave, gave, they got got got!  Not only did only did they get paid at the end of the transaction, but they also earned more money through the referrals we sent them…and the positive online reviews we gave..plus the gifts we gave.  We felt compelled to give back what we thought they deserved….

As for the other one, well, they didn’t get much, because they didn’t act from a place of true service, and from a place of giving.

On to the next principle.

Related: Inspiring Go-Giver Quotes

Prosperity Principle 6:  The Creative Law of Prosperity

Now, we consider ourselves students of prosperity….because well, we want more of it.   And one of our mentors taught us that, if you want more of something….then it is a good idea to study that subject you want more of.

In our years of studying prosperity….we came across a book, called ‘The Dynamic Laws of Prosperity’ by Catherine Ponder.   It’s a book we highly recommend…. It may be ‘out there’ for many of you in terms of what may seem practical or pragmatic practices… but, she has some pretty powerful insights on how prosperity works, and we feel we’ve found more prosperity come our ways since reading this book….

Now, this book contains so many different prosperity principles to mention, but we’ll just put this one actionable idea out there, that anyone can do… which will lead, naturally, to more prosperity for you.

Okay, here it is….

It’s called the ‘Creative Law of Prosperity’…

What this law requires, is for you to simply….create a strong compelling desire for something you want in your life.  In other words, you must manufacture an intense desire for something that you truly, deeply, want.

we love what she says in her book, stating “of the millions of people who think they want to be successful,  few of them have really any strong, impelling desires.  They have been content to idly drift in a stream of small events and small expectations.  When you meet a person who is really going places in this world, usually it is a person of intense desire for the highest and best in life.”

So basically, what we need to do, is create a powerful goal to chase, and then dial up your intensity of wanting to bring that goal to reality.

What this will do for you, is act as a catalyst to get you moving towards taking more action… and hopefully it’s action towards the type of giving and service to others that is required for you to start getting.

Moving on.

Prosperity Principle 7:  The Law of Gratitude

This is the last thought on prosperity because we could probably talk all day on the subject,

Alight, this one is basically related to affirmations.  As we studied prosperity throughout the years, many of the ‘prosperity gurus’ if you want to call them that, highly recommended affirmations…

Which are phrases that we say to ourselves…to essentially reprogram our subconscious mind to think a certain thoughts… it’s a powerful way to change some of our limiting beliefs….

Those thoughts that automatically pop in our minds……telling is we can’t do something, we don’t serve something, scarcity thoughts….

Unfortunately, all too many of us grow up with a scarcity mindset… we are bombarded with thoughts like….

“Money doesn’t grow on trees.”

“You don’t deserve it….”

“Money is the root of all evil”

‘”oney is not that important…It’s only money.”

“I am just not good with money.”

“We’ve never been rich.”

Etc…

These are the types of subconscious beliefs that can suppress our ability to experience more prosperity….  So, we want to share with you, one of the powerful affirmations we actually use to help keep our mind in tune with prosperity thinking….  It’s something various members of our team have memorized and repeat daily….

It’s actually an affirmation we ‘borrowed’ from Tony Robbins… It’s what he uses to keep himself aligned and in tune with creating more prosperity and abundance in his life… and last we checked, he has quite a bit of prosperity flowing his way…

So here its…The prosperity affirmation that we suggest.

Here we go….

Now, if you’re not very religious, well, then you can just substitute the big GOD, with whatever higher power you believe in.

And that’s its.  Of course, we repeat this to ourselves multiple times daily.  By doing so, we ensure we are driving out those pesky poverty thoughts that tend to creep back into our mind from time to time.  Also, if you’re looking for your own prosperity mantra, wealth affirmation, or money related affirmations, here are a few great lists to choose from:

Enjoy!

Prosperity Principle 8: The Law of Belief

There will be people who believe that they deserve more, and those who believe they don’t. And 9 times out of 10, the people who believe that they deserve and can have prosperity, will receive it.  Similarly, there will be people who believe they can’t acquire a prosperous life, full of riches, health, and abundance, and so they never will. In both cases, what they belief is at work as a self-fulfilling prophecy.

the law of belief

In our search for prosperity we learned that in order to draw more prosperity towards us, we must first believe we can. Simply put, if you do not believe prosperity it possible for you, you will not seek, and if you do not seek, you will never find.

You’ve likely heard this principle uttered from time to time from success gurus and the like as, “If you don’t believe, you can’t achieve.”

So, be sure you believe that you deserve prosperity, and believe it’s possible for you to acquire more of it, because without belief, you minimize your chances of attracting more of what you want. A great place to kick start your belief, is to read Think and Grow Rich by Napoleon Hill. In the mean time, these Napoleon Hill quotes will do the trick.

Prosperity Principle 9: The Law of Honesty

Thomas J. Stanly, set of to discover the secret to wealth and prosperity from millionaires across the land. And in his search, he interviewed hundreds of millionaires in an attempt to unravel their secrets. And the answer uttered by most of these millionaires as the secret was none other than…..Honesty.

Yes, we know this is simple. But at the end of the day, money comes from other people. Typically it is as an exchange of a service or product from one to the other, but if there is no trust, people are very reluctant to part ways with their hard earned money to people or businesses they don’t trust.

So, if you want more prosperity, never forget that it will come through people.  As such, honesty should be our modus operandi if we want to ensure prosperity flows our way.

Prosperity Principle 10: The Law of Contribution

Whoever understands and applies this principle of prosperity will quickly realize it’s effectiveness. The essence of this principles relies on the fact that, our rewards in life will always be in exact proportion to our contribution and service to others.

Put another way, the income you make from company or clients you work for , will almost always be positively correlated to the need for what you do, your ability to do it, and the degree of difficulty involved in replacing you.

In short, become a bigger contributor, and you’ll reap a larger prize in terms of prosperity.

Prosperity Principle 11: The Law of Deliberate Thinking

The secret to success, accomplishment, and more money comes down to this statement…

“As You Think, So Shall You Become.”

Thinking, especially deliberate thinking with purpose, unleashes your potential like nothing else can. As a result of deliberate and focused thinking, you’ll be able to come up with more ideas, better, and newer ways to add maximum value to others.

And, as a result, especially if you keep The Law of Contribution in mind while conducting your thinking, you’ll eventually end up contributing more.

By contributing more, you’ll inevitably reap more. Abundance and prosperity will flow to you with ease. Your lifestyle will improve and your financial situation will change. So, never forget to principle if true prosperity is what you seek.

Prosperity Principle 12: The Law of Attitude

William James once exclaimed that “The greatest discovery of my generation, is that human beings can alter their lives by altering their attitude of mind.”

laws of prosperity: attitude

Not only will you feel better by adjusting your attitude, but you’ll create conditions in your life where you’ll attract more people, money, and opportunities to you that you wouldn’t be able to do any other way.

To put this prosperity principle into practice begin doing the following at once:

  • Start acting as the person you most want to become.
  • Remember, before you can do something, you must first be something.
  • Never forget, that it is all about cause and effect.
  • Become magnetic by creating a positive attitude for yourself.

Prosperity and achievement are 10x easier if you have the right mindset.

Prosperity Principle 13: The Law of Action

Every other prosperity principle can be mastered, memorized, and embraced; however, none of them will work for the person who does not act.

Action is the great equalizer. Action creates the opportunity for change. It creates the momentum for growth, and it is what is needed in every circumstance, be it small or large to ensure the prosperity we seek is flows our way.

Here’s a quote by Carrie Wilkerson that says it best…. “The longer you’re not taking action the more money you’re losing”.

So, seek and you shall find. Knock and the door will open, and take action and the prosperity you pursue will get closer and closer.

Related: How to Execute Effectively

Violate at Your Own Risk

principles of prosperity quote

Alright friends, there you have it.  The 13 principles of prosperity that will undoubtedly bring you more prosperity and accomplishment. Here they are again in summary:

  1. The Pareto Principle
  2. Parkinson’s Law
  3. The Law of Averages
  4. The Law of Association
  5. The Law of Giving
  6. The Creative Law of Prosperity
  7. The Law of Gratitude
  8. The Law of Belief
  9. The Law of Honesty
  10. The Law of Contribution
  11. The Law of Deliberate Thinking
  12. The Law of Positive Attitude
  13. The Law of Action

We’ve studied the success stories of many of the most successful and richest people in the past 100 years, and these principles of prosperity have come up again and again.

If you practice these principles and pursue them with vigor, in any area of your life, positive and yes, even prosperous results will abound.

Violate them at your own risk.

Till next time, 

STRIVE

PS – If you found value in this article, then you’ll really enjoy the insights within this money making post.

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ELON MUSK NET WORTH + HOW MUCH HE COULD MAKE EVERY SINGLE DAY

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Elon Musk Net Worth 2022

Elon Musk is one of the most visionary entrepreneurs of our time. He has co-founded and sold multiple internet companies like Zip2 and PayPal.com. He has also led the charge in commercial space exploration and making alternative transportation cool as well as accessible to the mass market. All of which has directly led to him becoming a multi-millionaire by the age of 28, and then a billionaire just three years later.

Without a doubt, Elon Musk is an entrepreneurial trailblazer who has been stacking his accomplishments for well over two decades now. And naturally, with an impressive resume such as his, comes avalanches of money and massive net worth. So, that’s exactly what we aim to address in this article, the net worth of the world’s richest man.

So What is Elon Musk’s Net Worth?

Elon Musk Net Worth

Elon Musk’s net worth is more difficult to pin down compared to most millionaires and billionaires. The primary reason for this is because he is still in his prime. For instance, Tesla, the company he is heavily invested in and runs as the CEO, recently saw it’s stock price grow by dramatically over the past year.

In addition to this, his space exploration company Space X recently doubled from $51 billion to over $100 billon. [1] So, his net worth is constantly fluctuating. With that being said, at this moment in time, we’ve been able to pin down Elon Musk’s net worth at $255.1 billion. [2]

He’s down $13.1 billion from April, and $22.3 billion from January. So he’s down -7.9% for the year. Certainly, 2022 has been a tough year for Elon Musk. On the bright side however, he is still the richest man on the planet!

How Much Does Elon Musk Make?

Elon Musk’s most recent payout before he put an offer in to buy Twitter, was clocked in at $23 billion.[3] This money was from hitting performance goals for Tesla, which offered such a generous payout as part of an ongoing pay-for-performance package.

That said, this number changes from year to year based on how Tesla performs, and it doesn’t include any income from his other company’s.

Elon Musk’s Baseline Income

Have you ever wondered how much money Elon Musk could make if he decided to cash out on all his ventures and call it a day? Well, we aim to provide that baseline income for you. That said, this metric is based off the potential earning power of his multi-billion dollar net worth alone. Again, this is just a hypothetical calculation to assess what his baseline annual income is based off of his assets.

With that being said, let’s dive in. So, assuming Elon Musk decided to sell his $255.1 billion in assets, and invested that windfall profit into something “safer” like a few stocks known as either Dividend Kings, Dividend Aristocrats , or REITS with an annual 4.5% dividend yield (a very reasonable return to expect, considering historical returns on safe investments tend to fall between the 3% to 5% range).

What would we get? Well, Elon Musk’s baseline income would be $11.47 billion a year. Put another way, he could make $31 million every single day for pretty much doing nothing for the rest of his life. Here’s what that could look like broken down even further.

Elon Musk Money Metrics

Money MetricAmount
2022 Net Worth:$255,100,000,000
**Earnings Per Year:$11,479,500,000
Per Month:$956,625,000
Per Week:$220,759,617
Per Day:$31,537,088
Per Hour:$1,314,045
Per Min:$21,900
Per Sec:$365

Disclaimer: This is a hypothetical (but possible) earnings Metric for Elon Musk based off of his net worth’s earning power alone.  This metric does not include the earnings he received from his recent bonus payout. Again, this calculation is for entertainment purposes only.

Elon Musk Net Worth History

Elon Musk wasn’t always the richest, but he has certainly been well-off for quite some time. In fact, he didn’t reach the pinnacle of wealth until Sept. 2021. That said, below is a helpful snapshot of how Elon Musk’s net worth has taken off over the years.

The wealth history graph below goes back 7 years, starting in 2016, and demonstrates how Elon’s net worth exploded after 2020, and grew by over 2,284% since 2016.

Elon Musk Net Worth History

Interesting Elon Musk Facts:  

  • Musk had 8 million Instagram followers (before he deleted his account) and 107.1 million Twitter followers. As such, his grand total of social media followers would be 115.1 million.
  • In 2012 Elon Musk become a billionaire.
  • Elon Musk become the world’s richest in 2021.
  • In 2021 Elon Musk was named Time Magazine’s person of the year.
  • In 2022 Twitter’s board of directors agreed to sell the company to Musk for $44 billion.
  • Elon Musk is more than twice as rich as Warren Buffett
  • Elon Musk is the proud father of 8 children.

How Did Elon Musk Become So Rich?

Elon was born in South Africa, moved to Canada for college, transferred to the U.S.A to finish his degrees in Economics and Physics. He also attended a Ph.D. program, but dropped out after just two days to dive into the dot com craze during the late 90’s.

He took calculated risks with his business start-up, which was driven by a larger than life ambition fueled by his passion.

Elon Musk Net Worth Quote on Passion and Purpose Scaling

In addition, Elon Musk also had a vision for the future, and saw ahead of time the need for digital mapping, e-finance, commercial space exploration and colonization, and modes of transportation that rely on alternative energy. And he courageously put all his eggs in each of these baskets.

So, in essence, he became successful by pursuing ventures that aligned with his purpose and passions, never giving up on his visions of “what could be”, and then relying on a super human work ethic to bring it all together.

Read More: Elon Musk Success Story

Success Sayings

Here are a few of his more well-known sayings about success to help paint a better picture. Be sure to share if you like any of them.

Related: Elon Musk Success Quotes

Billion Dollar Mindset

If you’re looking for further insight into the the mindset that has lead to the creation of billions of dollars in value, then give the video below a few minutes of your time. The video does a great job depicting the way Elon Musk thinks and approaches problem solving. Enjoy!

Video Credit: Mulligan Brothers (Subscribe to Their Channel Here)

How to Build Wealth Like Elon Musk

Building a net worth like Elon Musk may be a long shot for most people; however, that doesn’t mean you can’t start building your very own sizeable stash of cash. Hey, we all have to start somewhere.

So, if you’re looking to build your net worth, here are a few key steps you can begin taking today:

Build Net Worth Like Elon Musk

Key Takeaways

Here are some key takeaways from our Elon Musk Net Worth profile page:

  • Musk’s Net Worth:  $255.1 billion
  • Income (Est.** ):  $11.4 billion
  • Social Media Followers:  107.1 million
  • Keys to Success:  Purpose, Passion, Fearlessness, Work-Ethic

Elon Musk’s net worth and success is not typical, but clearly reaching such staggering levels of success is possible; otherwise Musk wouldn’t have achieved it.

And hopefully, you’ll agree that it is inspiring to know that a smart kid with a dream could follow his passion, work his tail off, take massive risks, and as a result create massive “luck” for himself.

So, follow suite and see what kind of “luck” you can also create for yourself.

Till next time,

STRIVE

PS – If you enjoyed this Elon Musk Net Worth profile, then you’ll likely enjoy learning about the net worth of his direct competitors like, Jeff Bezos or Bernard Arnault.

** These earnings are hypothetical and calculated off of the earning power of Elon Musk’s net worth alone assuming a 4.5% dividend yield.

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KEVIN O’LEARY’S NET WORTH + IMPRESSIVE BASELINE INCOME

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Kevin O'Leary Net Worth

Kevin O’Leary is a world-renowned businessman, entrepreneur, author, venture capitalist, and T.V. personality. Most know him as Mr. Wonderful from his charismatic presence on the hit reality T.V. show, ‘Shark Tank’. And, as a successful entrepreneur and venture capitalist, O’Leary has founded, invested, and sold numerous businesses over the years, bringing him fame, financial success, and a massive net worth. So, that’s exactly what we’ll be highlighting on this Kevin O’Leary Net Worth page.

“You Don’t Build Wealth Part-Time.”

– kevin o’leary –

So, if you’ve ever wondered what Mr. Wonderful’s net worth is, and how much he makes or could make, then let’s dive right in to the numbers.

What Is Kevin O’Leary’s Net Worth?

Kevin O'Leary Net Worth 2022

Kevin O’Leary’s net worth in 2020 and 2021 was reported to be around $400 million per Celebrity Networth.[1] However, considering the market’s average annual return over the past 30 years is 9.9%, our estimate for Kevin O’Leary is slightly higher.[2]

We all know Mr. Wonderful is all about building wealth full-time, so it’s highly unlikely that his net worth would remain stagnant for 2 years in a row.

Therefore, incorporating two years of growth at 9.9% per year, puts Kevin O’Leary’s net worth as of 2022 at approximately $483 million. This makes him the 2nd richest Shark from Shark Tank, just below billionaire Mark Cuban’s net worth.

How Much Does Kevin O’Leary Make?

With a sizeable net worth like this, you probably want to know how much Kevin O’Leary makes a year. Well, he earns about $30,000 per Shark Tank episode, and there’s an average of 24 episodes per year. So, from Shark Tank alone, he pulls in approximately $720,000 per year.

Kevin O’Leary also started a wine venture known as O’Leary Fine Wines, which he’s apparently transitioning into an affordable luxury business known as Shop Mr. Wonderful. His income from this venture has yet to be disclosed. O’Leary also earns royalties from books he’s authored, fees from speaking engagements, management fees from his investment Fund (O’Leary Investments) and dividends from his own investments.

That said, we don’t have a definitive number for you when it comes to Kevin O’Leary’s salary.

Baseline Income

However, here’s a baseline income estimate that Kevin O’Leary could easily make per year based off of the earning power of his Net Worth alone. To get this estimate, we must first assume he’ll take his entire $483 million net worth, cash it out, and then reinvest that money into a bucket of assets that can pay out on average 4.5% annually.

4.5% is a reasonable estimate annual yield, considering 3% to 5% is what the average returns on extremely safe investments have been historically.[3]

That said, after crunching the numbers, Kevin O’Leary could easily make $21.75 million per year starting today. All he’d have to do is liquidate all his assets and and place them into a few safe haven dividend paying stocks.

Here’s what that type of pay out would look like monthly, weekly, and daily.

Kevin O’Leary’s Money Metrics

Money MetricAmount
2022 Net Worth:$483,000,000
**Earnings Per Year:$21,735,000
Per Month:$1,811,250
Per Week:$417,981
Per Day:$59,711
Per Hour:$2,487
Per Min:$41.46
Per Sec:$.69

Note: this is a hypothetical (but very possible) earnings Metric for Kevin O’Leary based off of his net worth’s earning power alone.  It does not include how much he potentially earns from projects, sponsorships, his participation on Shark Tank, or social media, etc.. This baseline calculation is for entertainment purposes only.

Interesting Facts About Kevin O’Leary

  • Kevin O’Leary has over 427K million Facebook followers, 920K Twitter followers, 950K Instagram followers, and 714K YouTube followers, which comes out to a grand total of 3 million social media followers.
  • O’Leary’s mother taught him everything he knows about investing.
  • Kevin O’Leary’s birth name is Terence Thomas Kevin O’Leary.
  • He’s the proud father of 2 children (Trevor & Savannah).
  • He’s an avid watch collector.
  • Kevin’s worst investment cost him over half a million dollars.
  • He’s invested in over 40 different deals found on Shark Tank alone.[4]

How Did Kevin O’Leary Get Rich?

Kevin O’Leary didn’t get rich over night. While in grad school studying for his MBA, Kevin started an internship with Nabisco that would eventually turn into a full-time job. From this job he learned the ropes of business and marketing as an assistant brand manager.

But his corporate career was short lived, as he left this job to start an independent production company with a few of his former classmates. The new business saw limited success, but O’Leary would eventually get bought out of his position in the company for $25,000.

He would go on to leverage this payout, as well as $10,000 of seed money he was able to borrow from his mother to help get his newly co-founded software distribution and publishing company off the ground. The company was named Softkey.

Kevin O’Leary would go on to grow Softkey year over year, conducting a handful of acquisitions in the process. And after 13 productive years of growing the company, O’Leary and co. finally sold to Mattel for $4.2 billion. It was at this point that Kevin officially became not just rich, but free.

Kevin O'Leary Net Worth Quote on Money

Kevin O’Leary On What It Takes

That said, here are few additional success and financial insights from Mr. Wonderful. These quotes paint a solid picture on the mindset and thinking that has helped him build the fortune he now enjoys. Here you go:

Related: Kevin O’Leary Success Quotes

Additional Financial Insights

If you want to dig deeper into the thinking process that has helped Kevin O’Leary dramatically grow his wealth, the video below is worth watching. It provides some generous advice on what it takes to get rich in 90 days from Mr. Wonderful himself:

Video Credit: Kevin O’Leary (Subscribe Here)

Related: Get Rich With a Normal Job

Key Takeaways

Here are a handful of key takeaways from our Kevin O’Leary net worth page:

  • Kevin O’Leary Net Worth:  $483 million
  • Annual Earnings **:  $21.75 million
  • Social Media Followers:  3 million
  • Keys to Riches:  Taking Risks, Business Ownership, Hard Work

The net worth of Kevin O’Leary is impressive and without a doubt, it is continually growing. His business acumen and investment prowess seems to only be getting sharper with time. As such, we project his fortune will grow to over $1 billion within the next 10 years or less.

That said, Kevin O’Leary’s sizeable fortune is something that should inspire us. Certainly, it’s large and it may even seem impossible to obtain for many. But, it doesn’t have to be. Nor does it mean that we shouldn’t aspire to learn and build our own fortunes.

Till you reach aims,

STRIVE

** Disclaimer: These earning are hypothetical and calculated off of the earning power of Kevin O’Leary’s net worth alone, assuming a 4.5% dividend yield.

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TOM BRADY’S NET WORTH + HOW MUCH HE’LL MAKE WHEN HE RETIRES

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Tom Brady Net Worth 2022

Tom Brady is one of the biggest names in the sport of Football these days. As the quarter back for the New England Patriots and more recently, the Tampa Bay Buccaneers, Brady has managed to accomplish what few have ever accomplished in the sport before him. He’s tallied up the most victories by a quarterback, the most touchdowns, and as of late, the most super bowl championships. All of which has led him to be considered the G.O.A.T (Greatest of All-Time) in many fans eyes. And with such heights of achievement comes money and wealth.

So, that’s exactly what this page will be highlighting, Tom Brady’s net worth and his earning power. And, just for good measure we’ll also include a few fun facts related to his success and influence. So, let’s dive in.

What Is Tom Brady’s Net Worth?

Net Worth of Tom Brady 2022

So how much is Tom Brady worth? Well, as of this year, Tom Brady has a net worth of approximately $250 million. [1] And he’s managed to earn well over that amount during his 20 plus years in the NFL.

Since signing with the Tampa Bay Buccaneers, he’s managed to pin down a two year contract for $50 million. As such, Tom Brady’s average annual earnings from this contract alone (not including any special incentives) is $25 million. But, after getting his team into the playoffs, and then winning a super bowl, his average earnings for 2020 was around $28.3 million.[2]

With that said, his average earnings for 2021 was approximately $41 million, and for 2022 it is looking like his earnings will land somewhere in the $8 to $9 million range.

How Much Could Tom Brady Make If He Retired?

With all the media attention Brady’s been getting with his talk of possible retirement, some questions many people have on their minds is, “What will Tom Brady do after retirement?” and “How much will Tom Brady make after he retires?”

Well, we can’t answer the first question, but, we can provide you with a pretty solid predication for how much money he could rake in per year if he wanted to, post retirement.

So, if you’ve ever wondered how much Tom Brady could make per day, month, or even a year, after he retires, here is what we’ve come up with.

To provide you with this estimate, we have to infer that Tom Brady is a savvy enough investor to earn an annual 4.5% yield on his combined $250 million net worth ( by the way 4.5% is a very reasonable return to expect, considering historical returns on safe investments tend to fall between the 3% to 5% range [3]).

Therefore, if Tom Brady hypothetically liquidated all of his assets and invested them into a handful of stock or REITS with a modest 4.5% dividend yield, he could very easily make (and at a minimum) approximately $11.25 million per year in retirement.

Not a bad retirement income eh?

Here’s a little breakdown of how much Tom Brady could make every month, day, etc..

Tom Brady’s Money Metrics

Money MetricAmount
2022 Net Worth:$250,000,000
**Earnings Per Year:$11,250,000
Per Month:$937,500
Per Week:$216,346
Per Day:$30,906
Per Hour:$1,287
Per Min:$21.46
Per Sec:$0.35

Note: this is a hypothetical (but very possible) earnings Metric for Tom Brady based off of his net worth’s earning power alone.  It does not include how much he will or can potentially earn from his other projects, sponsorships, businesses, or social media, etc. This calculation is for entertainment purposes only.

Fun Facts:  

  • Tom Brady has 12.6 million Instagram followers, 5 million Facebook Followers, and around 2.8 million Twitter followers. All of which comes out to a grand total of 20.4 million social media followers.
  • Here’s another fun fact; Tom Brady’s wife Gisele Bundchen has a net worth that is almost double that of Tom Brady’s. With her net worth coming out to $400 million.[4] And of course, their combined net worth comes out to a cool $650 million. Talk about a power couple (at least for now).[5]
  • Brady’s first job was as a paperboy.
  • Tom Brady didn’t start playing football until he was a freshman in high school.
  • Brady was a back up quarterback for 2 Years at Michigan before he got his shot.
  • He was the 199th pick in the 2000 NFL draft.
  • Tom Brady was the highest paid football player in the NFL in 2022.[6]

For those who don’t typically watch football or keep up with ESPN, you’re likely not privy to how Tom Brady has become so successful. So, we’ll provide a quick summary for you.

How Did Tom Brady Become So Successful?

Tom Brady Play to Win Quote

In short, Tom Brady has become extremely successful by mastering his emotions and his ability to execute under pressure. Most fans of the sport would agree, that he is one of the most level headed players in the league, and he has the ability to manage his poise under pressure.

In fact, his focus and ability to execute flawlessly under extreme pressure has helped him earn the most 4th quarter comebacks of any professional football player in history.

His ability to bring his team back from huge deficits to eventually win game after game consistently has earned him the moniker of ‘The Comeback Kid’. Indeed, there is much more to what has made Tom Brady so successful over his career, but this is the one thing that helped him rise above his contemporaries. For a deeper dive into how he became the legend he is today, you’ll want to check out this Tom Brady Success Story.

In His Own Words

Of course, Tom Brady would contribute his success to other things. And in his own words, he sums it up best with his following quotes:

Related: Inspiring Tom Brady Quotes

Start Building Like Brady

Despite what most people believe, you don’t have to be superstar athlete or movie start to make millions of dollars per year. In fact, most self-made millionaires grew their small fortune not through some large sports deal, or striking it big in Hollywood, nor by winning the lottery, but by slowly growing their net worth over time.

Sounds crazy we know, but it’s true. That said, if you want to start building your net worth like Tom Brady, you can either wait for the NFL to come knocking at your door, or start training up to give tryouts a shot.

Or, you can make a solid plan and start taking action to build your own net worth starting today. The choice is yours.

Related: How to Get Rich With a 9 to 5 Job

Key Takeaways on Brady’s Net Worth

 Here are some key Tom Brad takeaways:

  • Tom Brady’s Net Worth:  $250 million
  • Annual Earnings**:  $11.25 million
  • Social Media Followers:  20.4 million
  • Keys to Success:  Mental Toughness, Effective Execution, Always Improving

Tom Brady’s sizeable net worth is directly related to his leadership qualities, his obsession with improving his craft, and his ability to stay calm and execute under extreme pressure. His wealth also has a lot to do with his longevity in the league.

With that being said, we hope you’ll take this information, and let it inspire you towards mastering your ability to perform under pressure and constantly improve what you bring to your own industry.

Till next time,

STRIVE

PS – If you enjoyed our Tom Brady Net Worth page, then you’ll love the net worth profile for the G.O.A.T. when it comes to European Football, Cristiano Ronaldo.

** These earnings are hypothetical and calculated off of the earning power of Tom Brady’s net worth alone, assuming a 4.5% dividend yield.

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