How to Reach Financial Independence: Top Jim Rohn Ideas

Here are the ideas from Jim Rohn’s Financial Independence.

Jim Rohn Ideas – Financial Independence

Some people think that you have to step on people and compromise yourself or become greedy to become wealthy. This is not true.

If you could do better, should you? Or should you pray instead? I believe in prayer, but I also believe in action. Scriptures say that 6/7th of our lives are to be devoted to enterprise.

Poverty is not a virtue. We should be wealthy so that we can help the poor.

Rich Vs. Poor

With a normal income and a normal working life, it is possible to be financially independent. This is being wealthy. It means being able to live from the income of your resources. Some may be happy with a modest income, and some may need millions.

First, you need a good philosophy. The philosophy of the poor is to spend money and invest what is left. Rich people invest their money and spend what is left. It is not the amount that makes the difference,

it is the philosophy. Mr. Shoaff said, “Set a goal to become a millionaire,” I thought that could hardly be possible. But I found out it was fairly simple. Everybody has the money. Poor people have the money to spend on self-development books.

How to allocate money

It is not the money, but how it is allocated, and how it is spent. You also need to reallocate your resources-both time and money if you wish to be financially independent. When you learn to do this, your life can dramatically change.

I was in a hurry and wanted to do it fast so I worked extra hard on that. First, I increased my income by becoming more valuable in the market place and then I developed a strategy for putting it to work.

Ask yourself, “What are my present allocations of resources, and my disciplines taking me? Look one, three, five, ten years ahead. Are they taking you where you want to go? Celebrate if the answer is yes! But if it is not, then let’s fix it.

My strategy for financial independence begins with a dollar. I teach teenagers to never spend more than 70 cents. You have to put together a financial statement. It is a picture of where I am financially at the moment. He showed me how to subtract liabilities from assets to discover my net financial worth.

How it looks is not important, doing it is important. Makes you see what is wrong.
Allot 10 cents to charity. This teaches character. Allot ten cents for active capital. This is the money that will make a profit. Wages make a living, and profits make a fortune. The secret is not to use all your profit.

Don’t eat your seed corn. Use the last 10 cents as passive capital. Invest it for interest, and let the interest compound.

Strict ratios are not important. Getting started is important. Increase your skills, become more knowledgeable, set aside more and more, and use less and less. When you move to my circle, you can live on 10 % of your income. You must keep strict accounts. Set yourself an “at least” list of things to be done in a year. Whatever you don’t use, you lose. Whether it is talent, energy, or ability. When much is given, much is required.

Finally, have a good look at your attitude. Don’t hate paying bills/taxes. It is like feeding the goose that lays golden eggs. Even if it eats too much.

Let others live small lives but not you.

By reading this book you are already in the top 5 %. I love motivating people like you. Don’t cry over small hurts, and argue over non-essentials. If you work on your gifts they will make a place for you. You will get invitations from places you never dreamt about, places that will awe you.

Ask for God’s help, but never make it an excuse for inactivity. You are surrounded by opportunity and possibilities.

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