Read an Excerpt
Recipe for a Richer Life:
The Fastest Way to Cash
Suppose there was a recipe book for a successful life. What kind of recipes would you find in it? Is there a secret recipe for happiness in your relationships? Is there a special recipe for peace and inner joy? What about a recipe for physical health? Or mental and emotional well-being? What are the ingredients in the recipe for financial freedom?
Our expertise is in the area of finances-of money mastery and the creation of wealth. We're master chefs when it comes to financial freedom, and we'd like to share with you our cookbook with our favorite recipes for financial success. It's time for you to achieve the abundance and success you've always hoped for.
I Need to Make Some Serious Money Now
There are hundreds of slow-cooking, Crock-Pot-type recipes for cooking up a financial feast. But let's face it, today, most of us have a need for speed when it comes to earning extra money. This book will focus on microwave recipes that can generate a fast flow of cash in ninety days or less. We'll show you how to set up your financial kitchen, assemble the ingredients, acquire the proper tools, and learn how to organize yourself to cook the fullest, richest life in the fastest time possible.
It doesn't matter why you need to make some serious money. Maybe something unexpected happened-like an accident, a job loss, a financial reversal, or a sudden illness. Maybe you've been a master procrastinator all your life and you're finally up against a looming deadline-like paying for a college education or retirement. Perhaps you don't have an immediate emergency but you've come to realize that a way to escape the paycheck-to-paycheck prison is to generate some extra cash or cash flow on the side. Or you might just be sitting on an opportunity and don't know what to do with it. Whatever the reason, this book will show you how to create the cash you need and the life you've always desired.
Neither of us was born with a silver spoon in our mouth. We've learned to earn our fortunes through hard work and many, many mistakes. We can teach you the shortcuts that we've learned along the way. We'll share with you the recipes that really work and tell you how to avoid the recipes that we've discovered aren't worth your time and effort.
You might be wondering if using the metaphor of a recipe is appropriate to the concept of success and wealth. When people think of success, they usually think of a formula, a method, or a blueprint. They rarely think of a recipe.
For example, in his classic book Think and Grow Rich, Napoleon Hill talks about the thirteen principles of success: desire, faith, autosuggestion, imagination, specialized knowledge, decision, organized planning, persistence, the power of the mastermind, the mystery of sex transmutation, the brain, the subconscious mind, and the sixth sense. In essence, Hill teaches that if you "add" these principles to your life-desire + faith + persistence, and so on- you'll become rich just by thinking about it.
Financial expert Suze Orman shares her insights in The 9 Steps to Financial Freedom-such as being honest with yourself and recognizing true wealth. Follow these steps and, according to Suze, you'll be financially free.
Such basic formulas list the steps or principles to achieve wealth, but in no particular order or intensity. On the other hand, a recipe is much more precise. It lists which key ingredients need to be mixed in which specific proportions in exactly the correct sequence for a specific period of time.
We believe that using the metaphor of a recipe is a better and more effective way to think about money and the creation of wealth. But there are pitfalls. Some people may look at the "bakeries" of wealth around them and wonder, "How did they bake those cakes? What recipe did they use? What ingredients?" and then try to figure it out on their own through trial and error. Following someone else's recipe would be much faster and easier.
These amateur chefs try to re-create the recipes of the top wealth chefs but can't seem to get their own cash cake to rise. We think it's because they've been adding ingredients that spoil the recipe- such as a negative attitude or a poisonous relationship. Or they've been leaving out key ingredients-such as persistence or faith in a Higher Power.
For example, suppose you were trying to bake a chocolate cake from scratch. You'd need a few key ingredients: flour, sugar, eggs, chocolate. Suppose you left out one of the key ingredients-like flour. Your cake wouldn't be very tasty, would it? What if you followed the exact recipe, with every ingredient mixed in the proper proportion and sequence. But just before you poured the batter into the cake pan, you added an extra ingredient that wasn't in the recipe- say, a cup of vinegar, or six crushed cloves of garlic, or a pound of sausage. How would your chocolate cake turn out?
We'd like to teach you several specific recipes for creating enlightened wealth. We'll share with you which key ingredients are necessary and how to combine them to achieve unlimited prosperity.
Are you ready to cook your way to wealth?
Chunks and Streams
When it comes to wealth creation, there are two basic ways to think about money: chunks and streams.
In our first book, The One Minute Millionaire, we laid out the strategies for earning chunks of money in short periods of time, such as a million dollars in ninety days. We specifically chose to create such a large amount of money in such a short time frame because we wanted to stretch your mind to the possibility of becoming an enlightened millionaire.
There is no doubt that a million dollars is going to go through your fingers before retirement. Our objective is to raise the possibility of earning double or triple that amount while simultaneously shortening the time to do it.
Earning an extra million in twenty years is a very realistic goal. After reading The One Minute Millionaire, many entrepreneurs have been able to do it in five years or less. Some did it in less than a year. Thus, fast chunks.
In this book, we have tackled an entirely different financial problem- the need for fast streams. We realize that the goal of most people is not to become a net millionaire with a million in assets (chunks). The more pressing goal is to bring money in the door immediately- streams of monthly income to support a struggling family now.
Like most, you've probably procrastinated too long. You've awakened to the fact that retirement is racing toward you and the thought of living on Social Security is not that appetizing. You need to bring money in the door in the next ninety days. Maybe your home is in foreclosure. Maybe you've just lost your job. You don't have time to take a night school class to train for a new career. You barely have enough time to read this book.
You need an extra stream of income fast!
Two Types of Money Streams:
Linear and Residual
When people think of making a stream of money, their first thought is to get a job and earn a salary. But this might not be the best long- term solution. If you just got laid off from a job, you don't want to go begging for another job, do you? You've had enough of that kind of "security." Nope. You need cash flow that you can count on.
Before we go much further, let's explain the difference between linear income and residual income. Linear income is when you work for money. Residual income is when money works for you.
Linear income usually comes in the form of a salary-working for someone else. You rent yourself out to some employer, usually on an hourly basis. One unit of your time yields one unit of money-X number of dollars per hour. We call this type of money linear income because you only get paid once for every hour you work. If you want some more linear income, you need to put in another hour of work. If you stop working, the stream of money also stops.
Residual income usually comes in the form of profits-earned when your money is invested wisely. Instead of renting yourself out to some employer, the goal is for you to rent out your money to do the work
The power of residual income is that you get paid multiple times for every hour you work. For example, both of us are authors. We work very hard to write our books (many units of time), but once these books are completed, they continue to be sold over and over again to new readers. We've been paid thousands of times for hours that we invested twenty years ago. And we'll continue to be paid for these same hours for as long as these books continue to be sold.
Do you want to be paid only once for your time-or would you like to be paid hundreds, even thousands of times for every hour you work?
Ultimately, this is the difference between financial servitude and financial freedom. Many couples work two or three linear-income jobs and still can't make ends meet. It's because they're only getting paid once for their time. In this book, we'll share with you multiple ways for getting paid multiple times for every hour you work. Eventually, you'll be able to retire and let these multiple streams continue to flow into your life without you having to go out and earn more.
Recipe for an Early Retirement
Essentially, this is a recipe book for early retirement. For example, suppose you were tired of driving to work every day and wanted to stay home-to take care of your kids, to nurse an aging parent, or just to take a needed break. Suppose you needed to bring in an income of at least $50,000 a year to support yourself. How could you do it?
The traditional (and longest) approach to retirement is to sock money away in your IRA or 401(k) for several decades until you have enough to buy yourself your own gold watch and retire on your savings. This is simply too long to wait in this volatile world.
Are there faster ways to cash?
The fastest (and least likely) way would be for you to inherit a large chunk of cash-let's say a million dollars. You invest this money in a safe certificate of deposit at your local bank earning 5 percent interest. This generates a predicable stream of interest- approximately $4,000 per month-for the rest of your life. In other words, if you had a million invested, it would throw off residual income every year that you could spend for retirement. So without lifting a finger, you could stay home on this modest income and devote your full time to things and people that are more important to you.
The recipe that we have just explained is precise. The ingredients are:
A relationship with someone who will name you in his or her will
Inherit $1,000,000 in cash
Invest it in a safe bank account
Make sure it pays 5 percent interest yearly
Unfortunately, very few of us have a chunk of money like that-or even the prospects of inheriting it. By the same token, very few of us want to work at the proverbial career for forty years. That's the long and the short of it.
Are there other nontraditional ways to early retirement? Yes, there are.
What if you wanted to retire in less than forty years? Is that possible? Absolutely. Could you retire in forty months? Or forty weeks? Maybe in as few as ninety days from start to finish?
Is this realistic?
Of course not! Yet we hope to stretch your mind to a new way of thinking and, ultimately, a new way of seeing how retirement wealth can flow quickly toward to you, not away from you. Thus, fast streams.
What if your life depended upon you solving your money problems in the next ninety days? More important, what if the life of a child- even your child-depended upon it? Could you do it? The only thing that might stop you from saying yes is that you have no idea how you'd accomplish it.
This book is about teaching you several key nontraditional recipes for creating perpetual streams of monthly cash. What if we told you that you could comfortably retire this year by investing as little as an hour a day of your time-right from your kitchen table? If that interests you, then read on, because we'll teach you the recipes in the chapters to follow.
The Right-Side Story
The story on the right-side pages of this book introduces the principles of fast cash in the form of a fictional tale. Some people learn better though the use of a right-brain story. We'll weave the financial recipes through the lives of five women and one young man, with various financial challenges. You'll probably relate to one of their stories so the process can become more real to you. Perhaps you'll be like Francie, who is facing financial ruin. Can she follow the recipe back from the brink to achieve a stable, secure financial future? Perhaps you'll be like Kanisha, who has an immediate need to make some money to support her new baby girl.
The principles work the same for anyone and everyone-male, female, young, or old.
The Left-Side Pages
The left-side pages will teach the principles and recipes in a straightforward, left-brain way. If that's the way your brain works, you'll be able to quickly learn and apply our techniques and strategies. By reading both sides, you can educate both sides of your brain so that you get the message and gain the courage to implement the recipe that fits your personality and circumstances of your life. Whether your need for income is immediate or somewhere off in the future, the recipe you'll use has the same essential ingredients.
In the next chapter we'll share with you what we believe to be the key ingredients of immediate financial success.
Note to Reader
In the later sections of this book, we'll be teaching you several specific recipes for generating cash in a flash. To help you implement these recipes, we encourage you to be a frequent visitor to our accompanying website, www.cashinaflashthebook.com. On our website, we have expanded the moneymaking recipes into detailed ninety day plans. Why don't you go there right now and check it out? :) MVH and RGA