Tweet

The New Definition Of "Rich"

Written by: Jim Meisenheimer

Article Overview: The definition of being "Rich" keeps changing. More and more people are becoming rich. However not everyone is paying attention. If you're not spending much time thinking about becoming rich - perhaps this article is just the motivation you'll need to get started.

The New Definition Of "Rich"

First, let me give you my definition of the word "Rich."

I believe being "Rich" is getting paid to do the work you love doing. I also
believe that's a no-brainer!

If you listen to your inner voice you already know what you love doing.

If you love selling - you just absolutely love the action, you should be in
sales.

If you don't love selling, you're not likely to ever become really good at it.
And reading this newsletter won't make much of a difference either.

I write these newsletters for the people who love to sell. And if you love to
sell you probably love to win. You also probably enjoy the satisfaction of
solving customer problems and winning their trust and all of their business.

And if you enjoy this, you probably relish the idea of being rich some day.
It's never too late to start thinking about becoming rich.

Rich isn't limited to money. In fact you can be rich in mind, body, spirit, and
okay let's toss in money.

Growing up as a kid I thought anyone who had $1 million dollars was rich. I
didn't have $1 million dollars and wasn't sure I ever would.

You have to be careful what you wish for.

If you want $1 million dollars wishing isn't enough. You must establish
goals and action plans - but that's the subject for another letter.

According to the Wall Street Journal, "The Securities and Exchange
Commission has redefined what it means to be rich."

And the article pointed out, "Being rich today, it turns out, requires more
than twice as much money as it did in the 1980s."

Once again, quoting the Wall Street Journal article, "The SEC says
investors need to have assets of least $2.5 million dollars to invest,
excluding equity in any homes or businesses, to be eligible to sign on a
hedge funds dotted line."

While this may be hard to believe, a staggering 8% of all US households in
2004 were worth at least $1 million dollars. "Now, according to the SEC,
the new definition of rich would apply to only about 1% of the population."

What does this mean if you are a mere mortal salesperson? It means you
should be keeping an eye on your Net Worth, and doing everything
possible to increase it. The higher your net worth - the more options you
have throughout your life.

It's no longer enough to dream about having assets, excluding your home,
of $1 million dollars, you should be upping the ante to $2.5 million dollars.

You should be learning to earn. Let that statement sink in for a minute.

The first step in becoming rich - using the new definition, is to want to
become rich.

Strange as it may be, not everyone in sales thinks about becoming rich.

If you don't plan to become rich you may end up being poor. Inflation can
chew-up and demoralize people with big ideas and limited net worth.

Consider that your kids may live with you longer than you lived with your
parents.

Add to those expenses, the cost of your parents or the cost of your spouse's
parents moving in with you is filled with choices that can drain your assets
until the tank is bone dry.

There are three things you can do today:

1. Establish a net worth goal that includes seven numbers excluding the
decimal point.

2. Hire an outstanding financial planner. Get referrals!

3. Read "The Science Of Getting Rich: and practice what it preaches!
You'll find it on my website.


Here are some excerpts from "The Science Of Getting Rich."

"The person who does not desire to live more abundantly is abnormal."

"Every person naturally wants to become all that he is capable of
becoming; this desire to realize innate possibilities is inherent in human
nature."

"The idea that dumb people and smart people get rich and talented people
and blockheads do to, should make the whole idea of getting rich very
appealing to you."

"You are a part of a very natural and prosperous phenomenon. There are
no gates on the road to riches. There are however entitlement mentalities
and negative attitudes which will always holds people back."

Look you're already a millionaire! Depending on your current age, you can
expect to earn a lot more than a million dollars during your lifetime.

There's never been a better time in the history of the United States to
become rich.

You will become what you think about. If you're not thinking about
becoming rich, change your thoughts.

"It all appears to change when we change," says Henri-Frederic Amiel.

"The Science Of Getting Rich" is just that a science. It's not theory. It's a
Science.

There's only one person preventing you from becoming rich!

Jim Meisenheimer is the former Vice President of Sales and Marketing
for Baxter International and is the creator of No-Brainer Sales Training.
His sales techniques and selling skills focus on practical ideas
that get immediate results. You can discover all his secrets by
contacting him at (800) 266-1268 or e-mail: jim@meisenheimer.com

Related Articles
  The Right To Be Rich
  Success: What Does It Mean To You?
  Whats Your Prosperity Quotient
  Getting Rich Is An Exact Science
  Coach Pete Tip: What Does Success Mean To You?

Article Tags: Rich



Related Forum Posts
Re: How To Be Rich - [quote="TheRainmaker":tst8wsa8]Sounds great. What exactly have you found to be eye opening??[/quote:tst8wsa8] The first eye opener was measuring wealth by your total assets 1 Million - 2 Million Pounds The Comfortable Poor 2 Million - 5 Million Pounds The Comfortably Off 5 Million - 15 Million Pounds The Comfortably wealthy 15 Million - 40 Million Pounds The Lesser Rich 40 Million - 75 Million Pounds The Comfortably Rich 75 Million - 100 Million Pounds The Rich 100 Million - 200 Million Pounds The Seriously Rich 200 Million - 400 Million Pounds The Truly Rich 400 Million - 999 Million Pounds The Filthy Rich Over 999 Million Pounds The Super Rich
Re: My 3 best business books - 1. Think and Grow Rich - Napoleon Hill 2. The 7 Habits of Highly Effective People - Stephen R. Covey 3. Permission Marketing - Seth Godin Think and Grow Rich seems more powerful each time I read it or dip into it. The 7 Habits not only offers some very effective ways to organize your life (which I have yet to master!), but also some great quotations and thought provoking statements including this by Nazi concentration camp survivor, Viktor Frankl: [i:2naxzsom]Between stimulus and response, man has the freedom to choose.[/i:2naxzsom] Seth Godin's Permission Marketing is a good read for anybody seeking to understand how to approach doing business on the Internet in the right way with regard to winning people's trust.
Anyone tried Rich Dad Coaching? - Hey I'm a newbie here. Anyone tried the Rich Dad Coaching?? I was going to join but I found this: johntreed.com/Kiyosaki.html
Small Business Books - I haven't read them but will check them out the next time I go to the store. I've heard a lot of good things about Rich Dad Poor Dad.
Re: My 3 best business books - It seems that Napoleon Hill works help a lot of business men. He had done a really good job. I bought Think and Grow Rich many times.


Share this article with your friends. Fund someone's dream.

Leave a comment below or share on the left and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.

Tweet

Newsletter

Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!

Name:
Email:

Popular Articles

How To Be A Management Legend

Earn More Money - Easy Home Business Ideas

Suggestions

Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.