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dominicmulvey@gmail.com
What is your Primary Asset ?
Whatever puts most income into your pocket is your primary asset, your job, your main business, your best agency. This is the asset that initially allows you to purchase your buy to hold other assets, your passive income providers. It is vital that you protect this asset. A Buy to Hold Asset is defined as one that you keep forever (unless you can trade it for one that provides even greater income.) For this reason you should have PHI, Permanent Health Insurance a.k.a. Permanent Income Indemnity or Income Protection Insurance. It will pay a percentage of your income if you cannot work. If you don't have it, when you stop working, your income stops too. Your expenses do not stop just because your income does. The result is that you start to strip out your other assets, cash first, in order to survive. You then start to sell off your assets in order of decreasing liquidity just to live. Please note that I am using the term "asset" here in the sense that an accountant would. Once they are gone, you still have no income and nothing left to feed you.
Once you start to work for money, you should put this insurance in place and review it annually adjusting upwards by 5% to allow for inflation. Beware of the sales people - shop around for the best deal because you do not want to pay too much for it. At review time, shop around again and change provider if a better deal comes along. Counterintuitively, this is in fact a part of your master plan to create wealth for yourself. It gives you the peace of mind to be more creative in your thinking.
The Dream Game
All the advice given here is for your use only. If you tell people that you are following it, you will reduce its power by 50%. The whole power of it can be destroyed very easily if you share it with negative people or those who don't want you to do well.
Do not Swear or Blaspheme.
Do not Lie.
Never Cover up for another.
It saves a huge amount of time and energy if you have a rule that simply says that you never lie swear or cover up. That way, your decisions about what you will say have already been made for you.
This should not stop you from being careful, economical, if you will, with the truth. It is a powerful thing and not everyone is entitled to the whole truth. If you are ever asked a direct question, you must tell the truth but you don't have to go out of your way to get someone into trouble or give away too much information.
Never let anyone know how hard you work. No matter how hard you do work, let the World believe that you are coasting, that it is all effortless. One day it will be.
Always have a plan. Have a plan for Sport, Study, Income, Expenditure, Work, Play, Love and Life itself. Without a plan, how would you know if you were a success ?
Remember that the criminal mind does not have to have a reason. It sees you as prey. In a room full of saints, the thief will only see pockets to be picked
Remember that no matter what happens or whatever challenges arise, if you are wise, it is never a problem. The wise man never has problems, merely situations that require his attention.
