A lot of food for thought in this 20 minutes extract from one of Earl Nightingales audio tapes.
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What are you doing at the present time to increase your income?
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How much money do you plan on being worth at age 65?
Earl Nightingale was an American marine who created a series of audio recordings called “The Strangest Secret” which sold over a million copies. These audio recordings aim to motivate and guide people to become successful in life. of
Video Summary
In the video Earl notes that only 10% of men 65 or older have incomes over $6k per year. Also that men have 40 years (roughly on average) to prepare for life after 65 when they are no longer working. Obviously these are old figures for income but it would be interesting to see if the 10% figure holds once adjusted for inflation.
So why are so few people unable to prepare sufficiently?
He recommends to ask the two key questions to yourself and others.
- What are you doing at the present time to increase your income?
- How much money do you plan on being worth at age 65?
Earls hypothesis is that so few people are able to make the grade financially because they do not have answers to the above questions. This blog is in part my answer to the first.
One thing I love about this tape is when he talks about “The Goldmine” or in other words the brain. Ideas are free and he encourages you to become an idea machine! Creating 5 ideas a day is 25 a week or 100 a month and surely one of them can put you on the path to increasing your income.
How will my business be conducted in 10 years? and try to do it now
This is a exciting way to generate ideas as it stops you thinking about small adjustments or optimisations and gets you wondering about really innovative ideas for your industry
A great piece of content if you are looking for some motivation.