Deborah

Forbes.com First-Ever iConference: All-Weather Portfolio Strategies
NOW ON-DEMAND!

Dear Deborah Lee:

Were you unable to attend the Forbes.com Investor iConference: All-Weather Portfolio Strategies on May 22nd?

If you missed it, we have good news for you.  The entire event has been archived and is now accessible on-demand!  This event is FREE to attend. Just click here to log-in.

During this on-demand period, you can:

• Listen to all six conference sessions and archived Q&A’s, including the keynote discussion between Steve Forbes and Robert Kiyosaki.
• Obtain the same valuable investment reports and information that were available during the live event at our exhibitor booths and resource center.
• Get more than 30 specific stock, ETF and mutual fund recommendations from Forbes Gurus.  
• You can even chat online with some of our exhibitors – booths are still being manned!

Here is what those who have already attended are saying about this Forbes.com iConference:

“The Forbes online iConference was better than some of the live in-person conferences I’ve attended in the past. I’d recommend this forum of learning and sharing to any investor. Great content, credible speakers and fabulous format! Thank you!!”
-B. Burke, Hillsboro, Oregon

“Forbes iConference… outstanding, delightful, and informative…. I never thought I would be attending an investors’ conference from Alaska with Steve Forbes, Robert Kiyosaki, and Jim Lowell, but I did!! Right in my own home. When is the next one???”
-J. Bauer, Soldotna, Alaska

“Much more civilized discourse than cable tv screamers.”
-D. Ahr, Frederick, Maryland

“I was impressed with the All-Weather Portfolio Strategies iConference and virtual event. The opportunity to watch Steve Forbes and listen to his opinions, predictions and advice about investing in uncertain times and in general was valuable.”
-S. Fuhr, Trevose, Pennsylvania

Click here to log-in now – it’s FREE!.

Sincerely,

Tina Russo
Editorial Director
Forbes Newsletter Group

If you aren’t aware of it, it looks like this…

Poor and middle class people work on the left hand side as an “E” (employee) or an “S” (self-employed).  All of these people sell their time for money.  Because we only have fixed allotment of time our income is also limited.

Rich people live on the right hand side of the quadrant.  ”B” is for business and refers to business owners who leverage their time by utilizing the resources around them including having employees.  

The difference between the ”B” and the “S” is that the self-employed person puts more energy into running things themselves and taking care of the operations part of the business.  A “B” quadrant person sets up systems and hires people to run his businesses.  This frees them up to build more assets.

What if Sam Walton had to be at the store every night closing out the registers?  If so, there would be one small store in Bentonville, AR instead of the mega business it is today.

The last is “I”. This stands for investment.  Rich people are looking for assets – things that bring them money rather than costing them money. Investments are a way to do that. This can include real estate, the stock market, and more. 

Part of rethinking wealth is looking at life in a different way.  If you think opening your own business is the way to freedom, you are right – as long as you run it the right way. 

It all goes back to the old adage “Work smart, not hard” 

 Here’s to your journey,
Deborah

I’ve only been a preparer for a year, but I worked 12 tax seasons for my mom’s franchise in Alabama taking care of back office stuff.  I decided to take the plunge to tax pro  here in St. Louis because things have become more automated and my mom really doesn’t need me.

What I gained was an opportunity in financial education.  One of H&R Blocks great strengths is in the area of expertise.   We have to have 69 hours of tax training and pass an exam just to be able to be considered for an interview.  After that, beginning tax pros have to take another 60 hours before and at the beginning of tax season.   

Each year we have to have a minimum of 24 hours just to get rehired.  Raise that to 30 to go to another level of certification (which involves more pay).  Plus, you can’t get certification hours for a course you took in the last 3 years.

What’s my point? Well, in order to keep this level of expertise with all of the tax pros, they offer a gazillion courses in all different tax and business subjects.  The best part is we get to choose as many as we want, in a classroom or online,  for $20 a year.  Add to that all of the on the job experience and it’s a grand education in taxes and in business and marketing.

Robert Kiyosaki of Rich Dad fame says that for those who think like rich people the main  reason to get a job is for the financial education it can provide you.  If you are familiar with the Rich Dad principles, you know that rich people think in terms of assets – businesses and investments.  

Apart from the fact that taxes are fun (yes, you hear tax pros say it all the time) and H&R Block is a great company to work for with lots of advancement opportunities, working for H&R Block gives a great financial education.

Tax attorney Drew Miles (Tax Tips – Asset Protection – Pathfinder Business Strategies ) tells the story of watching Bill Gates being interviewed on a national news channel.  He was asked what was the key to his success.  He said having a “working knowledge of the tax code.”  Not the answer you would expect, is it? 

You hear a lot of people complain about how the rich get all of these tax breaks while the poor and middle class keep paying higher taxes.  The reality is that they make an effort to know about their money and how it works.  A huge part of that is knowing how taxes work for and against them. 

The poor and middle class have so many more opportunities available to them that they don’t take.  Many times because they are afraid to take them. If you are rethinking wealth in your own mind, consider how you can make better decisions in the area of taxes.  It will help you overall financially.

Deborah

If you are saying “What ebook? I didn’t get an ebook!” Don’t fret, you can download it right here -www.rethinkingwealth.com/goldbook2008.html.

Tools: Genograms

Genograms are a great tool to look at family patterns and find a deeper understanding of yourself. I was first introduced to them in my marriage and family class in seminary. We did the Fonda family (Henry, Jane, Peter, Bridget, etc.) as an example. It was very interesting to see the patterns that repeated within the family. Of course, we also did one for our own families.

In these examples, we were looking at emotional and relationship patterns that carried down from each generation. Genograms are useful for all types of analysis. They are used in the medical field to determine family medical history and by social service agencies to look at patterns of family behavior.

In the area of business, you can use a genogram to look at your family’s career and work patterns, learning and work styles, patterns of wealth and poverty, and entrepreneurial spirit.

When I did my family genogram, I saw that I had several ancestors who were very successful businessmen owning a sawmill, an ice house, a general store, even illegal moonshine stills. Of course, there were other categories such as farmers, ministers and laborers.

I could also see work styles especially a strong pattern of creative starters who would start a new project build on it, pass it on, and start something new. It really helped me validate my creative ways of living life. Interestingly, I saw a lot of linear thinking types like engineers and accountants which helped explain why I value logic and am so analytical.

What can you see in your family tree? You don’t have to go back too far, but try to get at least to your great grandparents. Ask questions about each family member. You can ask anything you want, but a few good ideas are…

• What did they do for a living?
• How did they spend their time?
• What were their interests and passions?
• Which descendents followed in their footsteps?
• Which ancestors did they take after?
• What kind of work style did they have? [entrepreneur, laborer, migrant, etc]
• How did they view money?
• How did they handle money?
• Were they spenders or savers?
• How did money color their marriage and other relationships?
• How did the economic situation of their time affect them and the decisions they made?

You can use the genogram to get a visual picture. There are a lot of symbols you can use to show relationships and some of the links below will guide you. If you don’t want to go to all of the trouble to learn them, simply draw the family tree diagram and make notes around it. If you are more right brained, you can come up with your own symbols to help make the connections clearer to you.

Below are a few links to help you get it done. They are not directed at career or business issues. You will need to modify things to make those connections clear to you.

Here’s to the Journey,

Deborah

“Basic Genogram Components” from Northwestern University
http://faculty-web.at.northwestern.edu/commstud/galvin/genograms/Basic%20Genogram%20Components.htm

A page from a site selling a genealogy software program.
http://www.genopro.com/genogram/

“Creating a Genogram” from the University of Florida
http://www.cop.ufl.edu/SAFEZONE/DOTY/kfh/Genogram.pdf

“Constructing a Genogram on Word or Excel” from California State University Northridge
http://hhd.csun.edu/williams/340/Genogram Construction on Excel or Word.doc