You go to lunch with a colleague. Everything is good...
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November 17, 2016

 
"Wealth is a product of a man's capacity to think." – Ayn Rand
 
 

How Every Decision Can Make You Richer — or Poorer

 

By Mark Ford

You go to lunch with a colleague. Everything is good. When the waiter puts the bill on the table, the total is $26.

Do you pick it up? Do you wait and hope he does? Or do you suggest you split it?

On the surface, this is a minor decision. But in truth, it is one of a million chances you’ve had, have, and will have to become wealthier.

A cheapskate might look at it this way:

•    If I pay the whole bill, I’ll be $26 poorer.

•    If we split the bill, I’ll be $13 poorer.

•    If I can get him to pay it, I’ll be $13 richer — richer than I would have been if I had to pay for my meal.

To the cheapskate, the best decision is obvious. So when the bill arrives, he gets up to “go to the bathroom,” hoping his colleague will pick up the check.

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But I have a different view. Wealth building, like quantum mechanics, often operates according to laws that seem contrary to what is “obvious.”

Paying the tab, in other words, might actually make you richer. Because the $13 you spend on your lunch partner might give you a return of much more than $13.

Your generosity might signal to him that you are the kind of person he can trust. It might tell him you are someone who is willing to give first without demanding recompense. If he sees you in that light, a relationship might be seeded by this small investment on your part. A year later — it is possible to imagine — he might recommend you for a promotion when he himself gets promoted to head up your department.

It depends on your assessment of his character.

If he impresses you as a person who believes — as you do — in reciprocity, you will know that the $13 is a wise investment. If, on the other hand, he shows you that he is a person who believes in exploiting others, the wise move might be to pay only your share of the bill and not develop the relationship any further.

In either case, you are richer.

In the first case, you are richer in a potentially lucrative business relationship. In the second case, you are richer in knowledge — knowledge about him that can help you avoid trouble or seize opportunity in the future.

I am making two points: First, almost every event in your life is an opportunity for you to become richer. And second, by seeing every situation as a wealth-building opportunity, you can take the actions that will gradually make you very rich.

The people I call “instinctive wealth builders” understand this on a gut level. They see every transaction — social, personal, or business — as a wealth-related opportunity. They are always angling, even subconsciously, to increase their wealth.

Most of us aren’t born with that instinct. For us, a casual conversation is just a casual conversation. And choosing to join a club or hire or fire an employee is that and nothing more.

But the moment we put this principle into practice, we see the world very differently. Its potential is no longer limited. It is enormous, maybe even infinite. And we view every action we engage in as a chance — big or small — to increase or diminish our wealth.

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Train yourself to ask the following four questions — keeping in mind that every situation, big or small, is an opportunity for you to become richer...

1.    “In what way is this an opportunity for me to become more wealthy?” (Note: I don’t ask, “Is this a wealth-building opportunity?”— because every situation is a wealth-building opportunity.)

2.    “What is the potential of this opportunity?”
3.    “What are the possible problems with this opportunity?”
4.    “What can I do to seize this opportunity?”

Look at every situation you find yourself in as an opportunity to make yourself richer. And I do mean every situation, even the most mundane. This includes:

•    The first thought you put in your mind when you wake up each morning.
•    What you listen to on your commute to work.
•    How you greet your boss and fellow workers.
•    What you talk about at the coffee machine.
•    The expression on your face and the firmness of your grip when you shake hands.
•    The conversation you initiate with the person next to you on a plane.
•    Whether you buy a brand-new car or a used one.
•    How your voice sounds when you answer the phone.
•    How you prepare for a meeting.
•    Whether you buy your clothes at Saks or Marshalls.
•    Whether you go out to lunch or eat at your desk.

Some of your opportunities will be small and some large. But by asking yourself the four questions above first, you will bring your batting average way up...

If you make it a habit to approach every situation this way, it will soon become automatic. And before you know it, you will have seized hundreds — even thousands — of wealth-building opportunities... each one making you a littler richer.

Editor's note: For a short time, Mark and his team are extending Early to Rise readers an exclusive invitation to join the Wealth Builders Club. Click here for full details.
 

About the Author: Mark Morgan Ford was the creator of Early To Rise. In 2011, Mark retired from ETR and now writes the Palm Beach Letter. His advice, in our opinion, continues to get better and better with every essay, particularly in the controversial ones we have shared today. We encourage you to read everything you can that has been written by Mark.

 
 
   
 
 

HEALTHY

 

Do You Have a 'Salt Tooth?'

 

From MSN.com

 

Some people carry a genetically driven "salt tooth" that could affect how heavily they season their food, potentially endangering their heart, a new study suggests.

Genetic variations cause some people to be more keenly aware of bitter flavors, said lead researcher Jennifer Smith, a doctoral student at the University of Kentucky College of Nursing.

These people are about twice as likely to exceed the daily limit of salt recommended by heart health specialists, according to study findings presented Sunday at the American Heart Association annual meeting in New Orleans.

The research centers on a gene called TAS2R38. Variations of this gene have been shown to enhance a person's perception of bitter flavors.

Learn more here.

 

 
 
 

WEALTHY

 

How to Fix Your Sales Copy, Part 2

 

By Craig Ballantyne

 

Yesterday, I told you my old-school tip of writing 50 headlines for every sales letter and explained why it's the most effective thing you can do before writing the rest of your copy.

Trust me, it will be worth it, just like a marathoner finds a way to carry on in those last 6-8 miles of a race after they have hit the wall.

Go the distance. That’s where the reward lies. That’s where you’ll find the big HOOK.

And as my mentor, Mark Ford says, “The hook is 80% of the copy.”
You can’t start writing the rest of your copy until you have a killer hook.

Put all of your focus and energy into the headline and into the first 100-300 words of your copy to hook the reader with emotion.

As promised yesterday, here are 3 Steps to Transform Your Copy Quickly and Easily.

 

 
 
 

WISE

 

15 Minutes in the Morning

 

By Craig Ballantyne

 

It's not about the hour you wake up, it's about what you do with the hours that you are up. Whenever you start your day, start it with a powerful morning routine to get your mind right, then focus on your #1 priority for at least 15 minutes and win a victory that the world can't take away from you no matter how crazy the rest of the day gets. You got this.

Discover more of my secrets to overcome overwhelm and win work-life balance.

 

 
 
 
Tired Of Being Overworked, Sacrificing Your Health, And Missing Out On Time With Your Family?
Discover Why You Must IGNORE 99% Of The "Lifestyle Gurus" If You Want To STOP Working So Hard And Finally Regain Control Of Your Life
 

Click Here Now To Discover The 3 Secrets to Success

 
 

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Nothing in this e-mail should be considered personalized Financial Advice. Although our employees may answer your general customer service questions, they are not licensed under securities laws to address your particular investment situation. No communication by our employees to you should be deemed as personalized Financial Advice. We expressly forbid our writers from having a financial interest in any security recommended to our readers. All of our employees and agents must wait 24 hours after on-line publication or 72 hours after the mailing of printed-only publication prior to following an initial recommendation. Any investments recommended in this letter should be made only after consulting with your investment advisor and only after reviewing the prospectus or financial statements of the company.

 
 
 
   

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