Fire Your Financial Adviser

The 3 Circles of Wealth

info@spongenetworks.com (Sponge Networks) — Thu, 24 May 2012 16:00:24 +0000

What if you could have no worry about your money and have absolute certainty that it is going to be there when you need it? Imagine what your life could look like if you followed sound financial principles that would keep you confident, regardless of the markets?

Chris Miles interviews Dale Clarke about the 3 Circles of Wealth and how that can help you create financial certainty and prosperity. The 3 Circles of Wealth are as follows:

3 Circles of Wealth
Circle 1: Personal Savings
Step 1- Set up “Wealth” / Savings account
Step 2- Debt paydown plan, CFI < 50 Pay it off quickly
Step 3- Build a 6-month reserve of savings
Circle 2: Insurance Savings
Circle 3: Dependable Investments

What Can We Learn From Facebook Stock?

info@spongenetworks.com (Sponge Networks) — Tue, 22 May 2012 23:00:31 +0000

I hate to say that my hunches were correct about Facebook…but I will anyway. All hype and no real data to back up the lofty expectations made it a gamble from its first day on the market. In fact, Facebook was a gamble before it came on the market. After hitting over $45/share mid-day Friday, it now stands at $31. The only people that made money were day traders and Zuckerberg.

But it’s not Facebook that concerns me. It’s everyone who wants to jump in based on rumors. Why are we so excited by gambling? Why do people let their emotions grow larger than their brains? Why do even respectable people get suckered? I even had a client that I questioned his investment in Facebook that refused to consider letting it go. In fact, contractually, he had to keep it for several months after it got on the market? Why do we do this?!

The fact remains that we violate principles whenever we gamble. We expect something for nothing. We think that we have better odds of success trying to roll the dice rather than spend the time, energy, and money investing in what really matters - our Soul Purpose and providing means to create value for others.

VALUE CREATION IS THE ONLY METHOD OF INVESTING THAT HAS EVER CONSISTENTLY WORKED!

Check out the Forbes list of richest people in the world, and you won’t see these gamblers who drift with the waves of the markets. You’ll see people that don’t diversify, invest for the short term as well as the long term, and focus on how they provide value to the extent that others want to exchange dollars for that value. Any other method has never stood the test of time. No financial product, by itself, has ever created financial freedom. So my question is this:

Are you focusing on creating value to ensure wealth, or are you gambling that you (or someone else) can second-guess the markets and get lucky?

Which one do you think will work?

How Do I Create a Budget…and Stick to It?

info@spongenetworks.com (Sponge Networks) — Thu, 22 Mar 2012 18:00:45 +0000

Why don’t budgets normally work? How can you create a budget so you’re not running out of money each month?

Chris Miles and Dale Clarke share what you need to do first BEFORE creating a budget, and how to do it simply. Listen now!

What’s Better Than My 401k?

info@spongenetworks.com (Sponge Networks) — Tue, 13 Mar 2012 18:30:56 +0000

Have you ever wondered if your 401k is really the best thing for you? What are the myths that prevent us from seeing what’s happening before it’s too late? What other options do you have?

Chris Miles and Dale Clarke dispel some of the myths about 401k’s and share some alternatives that could give you greater results than the traditional retirement plans. Listen now!

If you have specific questions on this topic, email cmiles@freedomfasttrack.com or dclarke@theaccreditednetwork.com.

Should I Move My Money Out of the Stock Market? Where?

info@spongenetworks.com (Sponge Networks) — Thu, 11 Aug 2011 01:50:47 +0000

With the Dow losing 15% over the last 3 weeks, many are wondering what to do next. Should we wait it out, or should we get out? When’s enough enough? What if it comes back?

Are you frustrated with how your money has grown (or not grown) over the last 10 years?

If you see virtually every article on this topic, they will tell you to calm down and ride the wave. Besides, you don’t want to get off the roller coaster when it gets exciting, would you? These article contributors will make it sound like you are on anti-depressants and can’t think for yourself because you’re too stupid to keep your emotions in check.

In reality, I think you’re smarter than they say you are. Using fear is a great way to keep their advertisers (investment firms and banks) happy. Despite this, you don’t want to make a mistake either. After all, you don’t want to get out when everyone says to stay in, do you? Shouldn’t we follow the herd and play it safe?

My own personal motto with any kind of investment or business deal is “When in doubt, stay out.”

However, I legally can’t tell you to buy or sell. Besides, it would be bad to tell you what to do without knowing who you are. But, I would have you consider a few things to help you make up your own mind.

Are you avoiding looking at what’s happening so you don’t stress out?
Do you have doubts about the future of the economy and government decisions?
Are you really passionate about the stock market, or do you just want to invest where you can create freedom and security?
Do you know what you’re doing in the market?
Does your financial advisor have any control of the markets, or are they just telling you to “trust them?“
What would you do if the market kept going down?
Why do Chris Miles and Dale Clarke laugh when the market tanks? =)

If you could answer these confidently (except for question #7), then you may be fine keeping your money there. If you had doubts about your investments, you may want to consider talking with a professional (hopefully someone who’s not paid to sell you products) to know what would be best for you. Ignoring what’s happening to your money is as bad as ignoring your spouse. Like in relationships, if you ignore them too long, you lose them. Don’t ignore and lose your money either!

If you want to learn ways to not only make money, but keep it, then I would recommend educating yourself further about the NEW RULES OF MONEY. If you like the gamble, that’s fine too. Go ahead and follow the herd, and let us know how it goes.

The good news is that Dale and I sleep well no matter what the news is saying. How have you been sleeping lately?

The Sure-Fire Secret to Riches

info@spongenetworks.com (Sponge Networks) — Thu, 16 Jun 2011 01:55:40 +0000

Often, you will hear us tell you that dollars follow value you create for others. Although true, are you tired of hearing it yet?

Would it be valuable if we tell you how to do it so you can create faster, more guaranteed wealth rather than asking you to just do it? Would it be worth it if it was only one, simple strategy that WORKS EVERY TIME? If so, keep reading!

This is a tip I began applying while listening to the audio book AND reading and taking notes on the book, “Master Key to Riches” by Napoleon Hill. He wrote this about 25 years after writing “Think and Grow Rich.” However, this book helped me retire 5 years ago and I felt it was helpful to review again. I wasn’t disappointed!!!

This one principle inspired me to test it more intentionally and it has yielded great rewards. In fact, this easy strategy just made me $3,090 during a one-hour lunch yesterday…and I didn’t have to pay for the lunch! Alright, I’m done teasing you now =)

This simple, yet powerful principle is GOING THE EXTRA MILE!

Lately, I have found every reason to go the extra mile in my career, family, and other responsibilities, and every time it pays handsomely. However, to make this work, you must have faith enough to actually do it! Many feel they are taken advantage of by applying this principle. Some wonder if their efforts even go noticed. Heck, I began wondering the same thing yesterday morning and had to remind myself that it does. Ironically, 4 hours later, it paid off for me!

Another example of this in the book “Master Key to Riches” is the story of Charles Schwab. Charles Schwab worked for one of the wealthiest men of that time (around 1900), Andrew Carnegie. Although Charles started as an entry level worker with little schooling or experience, he quickly worked his way to the top as president of Carnegie’s US Steel. According to Napoleon Hill’s interview with Carnegie, Schwab made it impossible for him to NOT promote him due to his “can do” attitude and his willingness to go the extra mile.

As president, he was paid a hefty salary of $75,000/yr. Now that may not sound like much, but as I researched inflation statistics, that would be the equivalent of about $1.95 Million/yr. How many of us wouldn’t mind a base salary of $1.95 Million/yr?

On top of that, Carnegie gave Schwab a bonus of $1 Million! That’s equivalent to a $26 Million bonus!!!

The reason? Carnegie said that he gave Schwab $75,000/yr for the job he was hired to do. And the $1 Million bonus for everything else that he did. Was Schwab “lucky”, or did he do everything possible to create value and go the extra mile to ensure his own success by helping others succeed as well? I think you know the answer to that.

So here’s how to apply this correctly. You must….

Have a positive mental attitude KNOWING that it always works
Understand that there is an irrefutable law of compensation where “what you reap is what you sow”…good or bad.
Keep your eyes open for opportunities to serve others, even if it doesn’t seem to make you any money (This is what happened to me yesterday)
Don’t hesitate to apply your strengths and passions in a way that helps others, especially when it’s not expected.
Give your employer, customers, or anyone else every reason to return value to you by FIRST creating value for them. Always give more than what you are compensated for, and do it with a positive attitude.

Action Item - Go have fun going the extra mile, and COMMENT HERE how you have applied this principle to work in your life!

Self-Made Millionaires…Really?

info@spongenetworks.com (Sponge Networks) — Mon, 23 May 2011 19:00:47 +0000

As a child did you ever dream about becoming a Millionaire? Driving a fancy sports car? Living in a castle in Germany? Wealth beyond imagination? Perhaps you day-dreamed about where you would travel or what you would do with your life if money were of no concern.

Being a “self-made” millionaire is something that is at the heart of many in search of the American Dream. The idea of creating an innovative product or service, starting a business, and marketing that product and/or service to the world is what drives most entrepreneurial minds. The truth of the matter is that there are no self-made millionaires. In fact, every time I hear someone say it, I cringe. It’s simply not true!!! We live in an interdependent world where everyone must work with others to succeed. Our relationship capital and ability to exchange value with others is what accelerates more wealth. Did Warren Buffett, Bill Gates, or Carlos Slim do it alone? Of course not!!!

For instance, I used to be the “jack of all trades” financial advisor. You could come to me for mutual funds, life insurance, health insurance, mortgages, and even help with your debt! Heck, I would even offer to babysit if you would do business with me ;) But seriously, despite all of these services, I struggled to make a decent living. Ironically, I made a lot more money when I began using my financial knowledge and ability to teach the “why” and the “how”, and then delegate a lot of the implementation of those services to others. I found out that I was better off making 50% of something than 100% of nothing. I was happy, the clients were happy, and my team was happy. How cool is that?! I figured out the fastest way to make money is to look for the “win-win-win.”

In the real business world, the more we focus on our using our strengths, and allow others to use their strengths, towards a common objective, the wealthier we ALL become.

What do you offer and who can help you deliver it so you can become more financially wealthy?

Get Off Your Assets!!!

info@spongenetworks.com (Sponge Networks) — Fri, 05 Nov 2010 17:05:03 +0000

I have had several people ask me in the last few weeks, “How can I make money living my Soul Purpose?” Or they would ask, “What can I do to get more cash flow right now?” Each of these are fantastic questions that I asked of myself at one time or another. Now, I have a simple, yet misunderstood, answer for them, and any of you, that may be asking this same question….“GET UP OFF YOUR ASSETS AND DO SOMETHING ABOUT IT!” Simple, yet often overlooked. Let me identify two types of assets I am referring to here - Financial Assets and Human Assets.

Financial Assets

We are taught to save all of our money in a retirement plan and pay all of our debt off so that one day we can retire. The reality is most are not able to retire because this method is a slower, riskier way to achieve that goal. Most lose some of that money in the market or barely make a return over time. As you may have seen us illustrate before, paying off certain types of debt can actually cost you more than it saves you. Instead, what you can do is coordinate your assets to produce for you while still taking less risk. Many don’t even realize that they could free up at least $500-$1000/month just by making a few adjustments to how they use their assets and pay off their debts. Usually, what we see is someone who is so scared to touch their money in retirement accounts that they will lose more money outside of those accounts and never get ahead.

Human Assets

Most of us have the hardest time figuring this one out, even though it is usually why you have income today. In fact, many in financial trouble think that they just need to know what their Soul Purpose is before they can make money. This is completely false!!! How did you make money prior to learning more about your Soul Purpose? The same way everyone else has…you went to work using the human assets that you possess. You and I already know this “secret,” don’t we?

Dollars follow the value we create!

To earn (notice the word “earn”) more money, you need to offer a service and/or product that is valuable to someone else. That’s it! In fact, I guarantee that is how you got a job at some point. You gave them a resume of your experience and skills (aka Human Assets), and they hired you for a certain wage. You may have done something as simple as doing manual labor. I mowed lawns when I was 12. In fact, I was so obsessed about collecting baseball cards, I knew I had to make more money to buy more. Now that I think about it, I probably made more money during those years than when I was just paying for college. I knew what I wanted and then I worked for it.

If you want to “earn” more money, you have to get off your butt and do something! It’s so simple, most miss out on it! Thomas Edison said, “Opportunity is missed by most people because it is dressed in overalls and looks like work.”

Do whatever it takes to use your body, mind, experience, or any other skill or strength to provide real value for someone so they will want to pay you to have what you offer. In fact, if you really want to earn more money, do whatever it takes to become irreplaceable with your unique set of skills. In the meantime, start wherever you are and get to work!

Action Item

First, list your financial assets and your human assets and identify which ones are making you money right now. Keep using them! Second, list your underutilized assets and create an action plan to start capitalizing on those too. Then, listen to our podcast about how to make the Law of Attraction work. Remember, start doing something, and start doing it right now!

What Is One Secret to More Success Right Now?

info@spongenetworks.com (Sponge Networks) — Fri, 22 Oct 2010 00:00:12 +0000

What is the one secret to becoming successful that most never figure out? What is that small pitfall that traps most of us in a world of mediocrity, frustration, and uncertainty?

Warren Buffett is currently the wealthiest investor & business owner in the world (depending on the value of his and Bill Gates’ companies). One of our mentors, Rick Sapio, interviewed Mr. Buffett for 40 minutes. There was statement made that stuck with Rick to this day. It is one of the biggest reasons why most never achieve financial freedom, greater health, or fulfilling relationships. It keeps us busy, but never attaining the results that we really want. In fact, by just implementing this one idea in your business, your money, and your life, it would transform the results you have seen up until this point!

Warren Buffett said this….

“The difference between those that are successful and those that are ultra-successful is that extremely successful people say ‘No’ to almost everything.”

Just saying “No” applies to a lot more than just drugs! Think about it. Have you ever over-committed to something? Have you ever said “yes” to too many things? Have you ever felt like you are running around with your head cut off? Sure, we all have! This is why Warren Buffett tells you that diversification is for those who don’t know what they are doing.

Focus is the key to seeing extraordinary results. This is why multi-tasking really doesn’t beat out focusing on one project at a time. Many go bankrupt or severely in debt because they tried to take on too many investments or projects. Those that try to implement a business idea, and then jump to another because they haven’t seen any results in a month or two, usually will never see results no matter what they do. You may know some of these people, and they drive you nuts! Well, let’s make sure we’re not one of them.

Here are some questions that will help you say “No” to the many wrong opportunities and “Yes” to the few right ones.

Do I have sufficient knowledge or expertise about this investment or business?
If money were no longer an issue for me, would I still do it?
What other reasons, other than rate of return, would I invest in this?
Would this distract me from being successful with my other investments or businesses?

Use these questions to guide your decision making and ensure you focus your energies towards the right activities to being “ultra-successful.” For further discussion on this, comment on your experiences with this and listen to our previous podcast, “The Power to Say NO.”

How Can I Be Financially Independent Faster?

info@spongenetworks.com (Sponge Networks) — Tue, 14 Sep 2010 18:00:05 +0000

This last week, I had a coaching member ask me how we apply our model to know how much they will have in retirement. Although I hadn’t heard this question for awhile, several others had the same question this week.

They would all ask, “Chris, we know that what you teach works better, but (notice it followed by a “but”) we aren’t sure what it will eventually equate to be. What do you think?”

My honest reply was, “I really don’t know. My crystal ball is broken. I could tell you what it could likely be, but I might be limiting your expectations or you may not be alive to see the bigger results. This is why we focus on generating more cash flow TODAY rather than 15-30 years from now.” Let me explain more what I mean.

Traditional Planning Model

This brings back painful memories, but it is useful to understand =) If I were a traditional planner again, and you sat down with me, I would pull out my fancy little financial calculator to “predict” your life.

Let’s say you are 50 years old, have $80,000 to work with for your retirement, and you are currently putting away $600/month. I would “assume” that you would earn 8% average in a mutual fund. I remind you that past returns does not guarantee future results. (See our video on how traditional planning can manipulate figures.)

If you were to retire in 15 years and everything worked out perfectly, you would have $457,640. To some, this would sound like a good deal of money. However, traditional planning will tell you to live off the interest (Listen to our podcast as to why they say this).

Therefore, to be “conservative” in our figures, I would suggest that you “plan” on living off of 5% of the balance each year. In this example, this would be $22,882/yr.

How many of you could live off of that? You could live off of more, but now you risk running out of money before you pass away.

But wait! A really good planner will account for inflation at 4%. Naturally, in 15 years, it is very likely that you will have to have more to live on. Your purchasing power is now only worth $254,111! That would be like living on $12,700/yr. today!

Note: the REAL inflation rate is much more. Listen how!

This was the dilema I was caught in that caused me to question if this really worked. To have at least a $50,000/yr lifestyle, you would have to put away at least $5000/month in this example! Pocket change, right? Sense the sarcasm? You could work an extra 10 years to age 75, and then “only” have to put away $2500/month…as long as inflation stays down and you actually get 8% average (which many haven’t).

Recommendations from a truthful financial plan? Live on less income, get a 2nd job, and put away more!

Our Model

Our answer? Live your appropriate lifestyle and create more cash flow TODAY thru better use of your money! Although it’s not mainstream, it’s simpler and more attainable.

For example, last week I showed one of my coaching members how to free up at least another $15,000 or more this year by using their money more effectively without having to spend more money! On top of that, as we show people how to leverage their human capital by coordinating it with their money, they realize that having a $50,000/yr. lifestyle is not as hard as they thought. This is the same thing I did to do it with virtually no financial capital and only investing a few hours of each week.

It doesn’t take a lot of money to make money, only simple creativity!!!

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What Do I Do With My Extra Money?

info@spongenetworks.com (Sponge Networks) — Tue, 07 Sep 2010 18:00:06 +0000

After many people realize that they don’t want to use the traditional retirement plans, and have taken action on our CASH FLOW TIPS to free up hundreds each month, they will ask me, “Chris, what do I do with the money I freed up in cash flow and the money that was going into retirement plans? What about the money that I don’t want in the stock market anymore? I don’t want to stick it in a low-yielding savings account. So where?”

Well, I’m here to finally answer this question so you can be clear on what would be RIGHT FOR YOU, rather than what some financial salesman tells (or sells) you. The short answer to this question is to get educated on what else is out there from someone who isn’t trying to sell you a specific financial product, and then focus your efforts to offering the greatest amount of value to others where they are willing to exchange money with you. However, if you want to find out some more specifics, listen to my response now!

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Robert T Kiyosaki is a Copy Cat?

info@spongenetworks.com (Sponge Networks) — Tue, 31 Aug 2010 18:00:37 +0000

Is it possible that Robert T Kiyosaki, author of the highly acclaimed financial books “Rich Dad, Poor Dad”, is a copy cat? Is he a “has-been” financial guru? We did a podcast interview with Garrett Gunderson, author of the NY Times Best Seller “Killing Sacred Cows” last year about his “New Rules to Get Rich.” However, Robert Kiyosaki will soon release his newly anticipated book “Shooting the Sacred Cows of Money.” Could this be a random coincidence? Did Robert just happen to have nearly the exact title as Garrett Gunderson’s best seller from 2 years ago?

Fortunately, for Garrett Gunderson, it’s NOT a coincidence! I personally know that several copies of “Killing Sacred Cows” were sent to Kiyosaki and his team members. So, why did I say this is a fortunate event? Believe it or not, I love the fact that Robert is doing this book. In fact, I hope he gets a ton of publicity about it. Couldn’t this be good for Garrett since his book came out more than 2 years before Kiyosaki’s? This plainly shows that Robert T Kiyosaki is a “has-been” financial guru, and needed some fresh ideas.

Kiyosaki is on the way out, Gunderson is on the way in!

Now, don’t get me wrong. I believe his “Rich Dad, Poor Dad” books have served a great purpose and inspired me before I left the financial advising industry. He has rightly deserved the attention he has gotten by being a great marketer for the last 10-15 years. In fact, I still believe you can learn some great concepts from him. However, many of his critics and fans will tell you that he offers very little in telling you HOW to get wealthy. Lately, he merely addresses the problems, and refers to his team of “Rich Dad Advisors” that offer a little bit more education than Robert does. Ironically, Garrett Gunderson’s Freedom Fast Track coaching process has offered a team of specialists and results-driven coaching for several years.

So, is Robert T Kiyosaki a fraud? No, I don’t believe so. Has he taken some of Garrett’s ideas knowingly? It’s hard to believe he didn’t with such a unique name in the title as “Sacred Cows”, especially since Kiyosaki changed it to “Shooting Sacred Cows” instead of “Killing Sacred Cows.” Garrett Gunderson is less-known despite his growing popularity, but that isn’t what really matters. What really matters is that we learn from those, like Garrett, that are in the trenches with us practicing what he preaches.

We want the real deal that’s doing it now! And apparently, so does Robert Kiyosaki.

What’s your opinion on this?

How Do I Get Rich Doing What I Love?

info@spongenetworks.com (Sponge Networks) — Wed, 25 Aug 2010 17:10:14 +0000

Have you ever wondered how you could make money doing what you love everyday?

Do you ever ask yourself, “Why would people pay me so much for doing something that I would practically do for free? How can I get others to be on board with what I am passionate about so I can not survive living paycheck to paycheck, but thrive in any economy?” Imagine what your life would look like when you could do what you love each day and get highly compensated for it.

Chris Miles teaches the secrets that have worked for him, and many others that he has coached, and what didn’t work. Even though these simple tips may seem obvious, they are still elusive to many people out there right now. Listen to learn what really works, and what only makes you work hard to get little or no results!

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Should I Be in the Stock Market Right Now?

info@spongenetworks.com (Sponge Networks) — Thu, 19 Aug 2010 19:00:07 +0000

So many people lately are asking me more frequently, “Chris, should I be in the stock market right now, or should I get out?” With governments and economies teetering on the brink of a deeper recession, more people feel uncertain about the stock markets right now.

The first question to ask about whether you should be in the stock market now or to bail out before it’s too late is:

“If money were no longer an issue in my finances, would I still want to be in the stock market?”

Your answer will vary based on how you answer this question. Listen to my reply to both responses and what I predict the stock markets will do over the next few years.

*As a reminder, to cover my “you know what,” I am not recommending any specific investments or strategies. I am merely presenting information that will help you get more clear.

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Which Financial Advisers Should You Hire?

info@spongenetworks.com (Sponge Networks) — Fri, 13 Aug 2010 00:00:09 +0000

Have you ever been caught in a dilemma? Have you ever been at a crossroads where you knew in your heart what was right, but afraid to take the leap of faith?

In March 2006, I was stuck between a rock and a hard place. A few months prior, my friend, Doug, and I had an argument about whether someone should invest in real estate or stocks. I was convinced that the stock market was best, even though I was beginning to have doubts. Doug finally asked me, “How many of your clients are financially independent and worry-free?” followed by, “How many of you (financial advisers) are financially independent from investments (not from commissions)?” Answering honestly, I said, “None.”

That was the beginning of a conversation that eventually got me to attend a seminar put on by Garrett Gunderson, NY Times Best-selling author of “Killing Sacred Cows” and his late partners. They asked the audience, “How many financial advisers are in the room tonight?” Since I believe I was the only one who was, I timidly rose my hand no higher than my shoulder and quickly dropped it (That was the first sign to me that I wasn’t so sure I wanted to be a financial advisor anymore). At that moment, they read an article written by a highly acclaimed financial planner, and then brought up every flaw in this planner’s “wise” counsel (some of which I will address below).

At the end of his seminar, I thought to myself, “Who would be crazy enough to teach this junk?” Suddenly, it hit me. I was teaching this junk!!! I then realized that I could no longer claim ignorance while keeping my integrity in tact. Although my business was really beginning to take off for the first time in 4 years of financial advising, I submitted my resignation that week.

Key Point - Quick action is more likely to get you quick results. I can attest to the fact that turning my back on the traditional financial industry has been a tremendous blessing in my life, my family’s lives, and my coaching members’ lives. To learn what else I discovered, listen to the podcast we posted previously, and/or see a condensed list down below.

How to Hire the RIGHT Financial Adviser

Ask yourself the following questions to see if you have the best financial adviser for you, or a salesman in a suit.

1. Do they earn commissions from your business? Have you ever noticed that the best investment many advisers recommend are often what they sell? Even the best intentioned advisers are tempted to advise you to buy only what they sell.

- Hire someone who is fee based, not commission-based.

2. Do they keep quoting figures 20, 30, or 40 years down the road? Will you even be alive then? These advisers will not teach you how to create cash in your life today, but instead, quote speculative numbers in the future. Nearly all financial advisers tell you to invest for the “long haul”…however long that is.

- Hire someone who teaches you how to create more cash flow today

3. Are they asking you to invest in their products, or in investments that are right for you? I was stumped when my brother-in-law said that he would rather invest into his own business and earn greater returns than 12% in the market (if you’re lucky). Almost every adviser or planner is guilty of this.

- Hire someone who is willing to tell you to invest where it is best for you, but possibly not them.

4. Do they tell you to take high risks if you want high returns? This is another lie! How can a higher chance of loss give you a better chance of winning? If this were true with money, you should ignore all financial products and only invest in lottery tickets since those have the highest risk of loss (FYI - I obviously don’t recommend this course of action).

- ONLY hire someone who counsels you to take lower, calculated risk.

5. Do they tell you to invest in the market whether it goes up or down? If they are so good at what they do, wouldn’t they only tell you to buy low and sell high? Have you ever noticed that it is always the right time to put your money with them, regardless of what’s happening in the market?

- Hire those that keep you away from speculative investments.

If your financial adviser works by any of these 5 myths, or others, then today is the perfect day to Fire Your Financial Adviser!!!

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Are You Frustrated With Your Investments?

info@spongenetworks.com (Sponge Networks) — Sat, 07 Aug 2010 19:55:02 +0000

How many of you are frustrated with losing money in your investments and not sure where to turn?

Are you confused because you don’t know who to trust because your financial adviser makes money even when you don’t?

Are you unsure where you should be invested? If so, you’re right to feel that way!

So many times I hear people express their frustration telling me “I’m frustrated because I’m losing money in my investments and I don’t know what to do or who to trust!” To that, my response is “Good! You should be!” It’s better to have that happen now than to have it happen to you when it’s too late.

For example, if your child were to go to a casino to gamble, would you prefer them to win their first time where they feel they have that “lucky touch,” or would you rather have them lose the first time to understand the consequences of gambling their money away? Personally, I would hope my kids wouldn’t gamble in the first place, but if they did, I would want them to fall flat on their face.

With investing, people think they’re financial adviser, or themselves, are brilliant when they make money, but then when it goes down, they want to blame the adviser or someone else. Here’s the reality: You can’t gamble your way to wealth, and your financial advisers are just nicely-dressed gamblers! They can’t perfectly predict the stock market any more than you can know exactly what will happen to you next week. The only thing guaranteed is the fact that your adviser will get paid for managing your money, regardless of the results.

The Solution: Stop trusting financial advisers that get paid to gamble it for you, and learn to control your own finances. There is a previous podcast about the best investment in today’s economy that can offer a deeper perspective on what might be right for you. The good news is that we are not going to sell you any investment. Education will make you a lot more money than ignorance.

Fire your financial adviser if they are telling you to be in it for the long haul, they tell you to buy when the market is high or low, and only invest in what they sell. Why have them gamble with your money, retirement plans, potential lifestyle, and financial freedom? Hire those that practice what they preach and believe that you shouldn’t take high risks to get high returns.

What are some of your frustrations with the financial planning advice you have received?

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How Can I Improve My Credit Score?

info@spongenetworks.com (Sponge Networks) — Wed, 28 Jul 2010 18:25:18 +0000

What are some ways to improve your credit score so you can pay less in interest charges, insurance premiums, etc? What are some myths that cause you to hurt your credit score rather than help you?

Chris Miles and Dale Clarke discuss how you can improve your credit score quickly so you can take advantage of lower interest rates and free up more cash flow right now. Also learn what Chris Miles did to be able to increase his credit score by 200 points in 2 years! Listen to learn how.

Please comment if you have had other successful ways to improve your credit score that could help others that listen to this, or if you have specific questions on this topic.

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How Can I Qualify for Business Loans Right Now?

info@spongenetworks.com (Sponge Networks) — Tue, 20 Jul 2010 20:00:32 +0000

With the credit market changing, how can you get business loans to invest in yourself right now, especially when rates are low? What are some key things you can do to look better (legitimately) to the bank so they will want to give you a loan? Why aren’t they loaning to people right now? How could this work for other loans too?

Chris Miles and Dale Clarke offer some easy tips you can start on to help you qualify for a business loan, or any loan, much faster in this economy than if you tried to do it the “old way.”

What are some of the things you have done to get loans too?

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How Can I Have More Cash Flow in a Down Economy?

info@spongenetworks.com (Sponge Networks) — Wed, 14 Jul 2010 17:00:01 +0000

What things can you do to increase your monthly cash flow, even when the economy is struggling? How could you make this work in ANY economy? How could learning this now make you much more wealthier when the economy bounces back? What are some simple strategies you can apply today that can help you see results right now?

Chris Miles and Dale Clarke discuss what they have done to have greater cash flow now than when the economy was booming, what myths that many people believe that keep them living paycheck to paycheck, and how you can easily start getting cash back into your pocket today!

What things have you done for yourself to have more cash flow in a recession?

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How Are Financial Advisers Losing YOUR Money?

info@spongenetworks.com (Sponge Networks) — Wed, 07 Jul 2010 19:50:29 +0000

How do you know whether you should fire your financial adviser before it’s too late? How do you know if you have the right one working for you? How are the wrong ones costing you money and you don’t even know about it? What are some simple questions to ask when interviewing for the right financial advisor or planner?

Chris Miles and Dale Clarke expose how financial advisers are costing you your retirement and your ability to have the life you dream of today. Learn a few fast questions to easily know if you have the right adviser or the expensive adviser, and which ones can help you create wealth today, rather than wishing for retirement someday.

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How Can I Invest When I Have So Much Debt?

info@spongenetworks.com (Sponge Networks) — Tue, 29 Jun 2010 19:00:31 +0000

How can you invest if you have so much debt or don’t have money to invest? How can it be possible to still make money and pay off that debt when you don’t have any money? What investment have you possibly been overlooking because financial gurus never teach it to you? Learn some easy strategies, from “The Anti-Financial Adviser” Chris Miles, to begin making money today, even if you have a lot of debt or little money to invest.

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How Do I Create Passive Income?

info@spongenetworks.com (Sponge Networks) — Tue, 22 Jun 2010 19:30:01 +0000

How can you create multiple income streams so you don’t have to work everyday? What are 3 ways you can do this even if you don’t have any money? What are the myths that keep most people from ever accomplishing this that those other “gurus” won’t tell you?

Learn from Chris Miles “The Anti-Financial Adviser” how you can easily turn this ideal situation into reality and avoid the traps that usually keep people from ever making this work.

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What Is a “Good” Debt?

info@spongenetworks.com (Sponge Networks) — Tue, 08 Jun 2010 19:51:16 +0000

How do you know which debts are good for you and which ones are bad? Have you ever wondered which debts are good and which debts are bad? Could certain debt be good, if not necessary, to create wealth in today’s economy? Could real estate be a bad debt too?

Chris Miles and Dale Clarke describe how to know which of your debts will be productive for you, and which ones are consumptive or destructive and could lead to financial ruin. Using traditional financial advice could be the difference between your financial freedom and financial bondage the rest of your life. Learn how to identify this fine line between good and bad debt!

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7 Secrets to Freeing Up Cash Flow Today!

info@spongenetworks.com (Sponge Networks) — Wed, 26 May 2010 19:30:56 +0000

What would your life look like if you were no longer living paycheck to paycheck?

Do you ever feel like there is too much month at the end of the money?

Would it be worthwhile if you could free up money now and not necessarily have to live cheap, using resources already at your disposal?

Below for some simple tips that can forever change your financial situation starting today!

Secret #1 - Track It! One of the biggest reasons that some people lose money each month is because they aren’t tracking how much is coming in and how much is going out due to fear of reality. In fact, I had one client that took weeks before she finally decided to track her income and expenses with our FREE tracker, only to free up almost $5000 each month because she began tracking how much she would spend on eating out! The truth shall set you free!

Secret #2 - Produce! You can only reduce expenses so far. One option that has limitless potential is find ways to increase your income by increasing avenues for creating value for others that would merit receiving money in return. The beautiful part of this is that it does not need to require more time from you, but more creativity around how you are able to give others what they want so that you can get what you want.

Secret #3 - Save on Taxes! Although I support paying taxes, I believe you should only pay what is required. Ignorance is often one of the costliest problems. If you keep getting a tax return each year, you are overpaying every paycheck. For example, if you get back a return of $6000, you overpaid, on average $500/month!!!

Bonus Tip - Turn your hobby or part-time work into a business. By setting up the right corporation(s), you could save even more on taxes than you are now! If you already have a business, you may consider getting a 2nd opinion on your tax structuring.

Secret #4 - Refinance Loans! Put your credit to good use. By merely refinancing or consolidating your loans (debts), you could free up money each month without spending a dime! To have better peace of mind, get the smallest minimum payment possible, and then you can choose whether you want to keep making the old payment to pay it down faster.

Secret #5 - Stop Retirement Contributions! Some people feel they have to put money away into retirement accounts for “someday” but ignore how they can have a great rate of return that could free up hundreds of dollars each month! Have you ever noticed that some people will insist on putting money into a retirement account that may lose money, but not pay off a 13% credit card that would immediately give them more cash to put in their retirement accounts each month anyway? What makes sense to you?

Secret #6 - Pay Minimums on Loans! Certain people will try to pay a little extra to each loan every month. This is likely costing them THOUSANDS of dollars! Instead, pay all those extra payments to one loan at a time. Warning - Don’t always pay the highest interest rate first. You could lose thousands of dollars in interest by buying into that myth. Remember to consider that cash flow creates freedom.

Secret #7 - Sell Assets Do you ever feel the need to simplify your life? Is your spouse bugging you to clean out your garage? If you aren’t using it, sell it! Don’t have a gym membership only to show off the key chain. Don’t keep certain tools or furniture because you “might use it someday.” Get rid of it! My wife and I cleaned out our garage last year and we made about $2000 AND I could park my car!

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*Results mentioned above are not always typical and can vary for each person

How Does Confidence Create Wealth?

info@spongenetworks.com (Sponge Networks) — Tue, 18 May 2010 20:50:41 +0000

What does confidence have anything to do with creating wealth? How can making mistakes be profitable and turned into successes? What can you learn from flying airplanes that can help you become wealthy?

Dale Clarke interviews Mike Hodge (The Captain) about how to be the “captain” of your life by being confident and not fearful of making mistakes. By making mistakes, you can increase your confidence to move forward and take greater control & power in your own life. Listen now to learn from two “aerodynamic individuals” the secrets to creating success fast!

To learn more about Mike Hodge and the “Captain Code,” visit his site.

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One Simple Secret to Finding Your Niche?

info@spongenetworks.com (Sponge Networks) — Sun, 16 May 2010 16:00:21 +0000

Have you ever wondered what’s one very fast way to identifying your niche? Do you ever feel like you might be good at a few things, but you still don’t know how you are unique? Many people I coach ask me what they can do to find their niche, especially when they are confused about what makes them unique. They will often comment how they can see where others have a niche, but feel that they don’t have some incredible talent that will make them “big” on some reality show, like “So You Think You Can Dance” or “American Idol.”

The solution is so simple, that you may question if it works. The fact is that most of our most elusive answers are staring us right in the face, but are often missed because we try to think too hard. My counsel is to relax and ask yourself one powerful question.

“What question(s) are people asking me when they say ‘Can I pick your brain for a minute?’”

Think back. Have you ever had someone ask you about how you did something? When people kept asking me how I was able to “get out of the rat race” within a few months, I decided that I needed to share those secrets.

Do you have a certain skill where someone said “Can you teach me that?” Or, have you overcame a certain experience, such as death of a loved one, divorce, financial ruin, raising children, passed a training, etc? Sometimes, we discredit our own uniqueness because “it’s just our life.” However, there are others that have questions or problems that want answers that YOU can offer.

One thing you can count on is that no one has quite had the life that you had. Look for some experiences in your life that taught you a lesson or skill, even if only used that one time. For example, most people don’t know that I was one of the nation’s top amateur ballroom dancers, or that I made it to a playoff round of “Who Wants to Be a Millionaire” in 2000 (Unfortunately, I never got on the show). There are certain questions I can answer, beyond financial questions, that most can’t.

In summary, ask yourself the following questions.

What was I being asked to teach or do when someone asked “Can I pick your brain for a minute?”
What skill/hobby did a person ask me to teach them?
What difficult experiences did I overcome?
What do I constantly get compliments on that I downplay?
What “quirky” things do I do?

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The Power to Say “No”

info@spongenetworks.com (Sponge Networks) — Tue, 04 May 2010 19:00:47 +0000

Do you ever feel like you take on too much? Do you ever feel spread thin? Are you plagued with distractions where you feel busy, but not productive? How can you stop saying “yes” to everything and begin focusing on what’s really important in aligned with your Soul Purpose? One of the most powerful words in the English dictionary is “no.” In fact, without clarity of purpose, you’ll never know the difference between an opportunity and a distraction. Learn how you can say “no”, stay focused on your Soul Purpose, and not offend everyone.

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How Are You UNKNOWINGLY Losing Money?

info@spongenetworks.com (Sponge Networks) — Tue, 27 Apr 2010 18:45:38 +0000

How are you likely losing money EVERYDAY and not know it? What can you do to be more resourceful with the money that you have? What methods to increase your cash flow are you missing out on? Why do you lose more money than what you lose when an investment goes awry? Learn where many people are losing money that they never knew they had!

Also, subscribe to our FREE weekly money tips to know how to take action on these, and other, principles!

Pay Yourself First

info@spongenetworks.com (Sponge Networks) — Tue, 20 Apr 2010 19:00:10 +0000

Do you ever feel like you are living from paycheck to paycheck? How can you save when there doesn’t seem like there is anything to save? What most people do wrong is that they only pay themselves AFTER they pay everything else. Learn a very simple formula to budget your money so you can pay yourself, increase your wealth faster, eliminate credit debt, and have greater peace of mind. If you want to find ways to free up more money, listen to our cash flow tips podcast, or read about it.

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So Much Passion, So Much Purpose, So What!

info@spongenetworks.com (Sponge Networks) — Tue, 13 Apr 2010 19:00:43 +0000

Why do so most people that do what they love remain broke? How can you do what you love and be financially free? To live Soul Purpose prosperously, you must market yourself, focusing on offering something that OTHERS value too. How can you earn $1 Million doing what you love? Listen to hear examples of living Soul Purpose successfully to see how you can apply to your life too.

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Stop Making Excuses and Get Over it!

info@spongenetworks.com (Sponge Networks) — Tue, 06 Apr 2010 18:00:39 +0000

How are our excuses preventing us from living the life of our dreams? What can you do to overcome your own limiting beliefs? Rather than make excuses, do something about it! In other words, stop standing behind your “but’s!” Learn how to save yourself precious time by not allowing your past, or present, to hold you hostage from the results you deserve in your life.

Also, subscribe to our FREE weekly money tips to know how to take action on these principles!

Why Is Financial Security Not Secure?

info@spongenetworks.com (Sponge Networks) — Tue, 30 Mar 2010 18:00:43 +0000

How does security destroy your chances for financial freedom? Why are so many of us taught to seek after security when all it leads to is bondage? Don’t seek after what’s safe, but seek after what works! Begin seeking freedom, not slavery. Read the blog - Independence or “In-Dependence” for additional insight into this subject.

Click HERE for FREE weekly money tips that offer suggestions for taking action on these principles so you can see results now!

How Are You Getting Played By Banks?

info@spongenetworks.com (Sponge Networks) — Wed, 24 Mar 2010 00:05:23 +0000

If you don’t play the RIGHT rules of money, you will get played by them! Learn why most people are losing hundreds of thousands of dollars over the next several decades due to ignorance of these rules, and how you can use them to recapture lost dollars.

Finding Your Niche to Get Rich

info@spongenetworks.com (Sponge Networks) — Tue, 16 Mar 2010 18:00:38 +0000

Your niche will make you rich! Do what you do best to create maximum value for others. Become the expert in your field. Your strengths are key to living Soul Purpose prosperously. Learn how to discover your unique abilities so you can create greater wealth in your life and better live your Soul Purpose.

The Five P’s of Prosperity

info@spongenetworks.com (Sponge Networks) — Tue, 09 Mar 2010 18:00:35 +0000

Learn some of the secrets in our Freedom Fast Track coaching program to help you prosper and create true wealth in your life. Listen now to learn further about the following Five P’s of Prosperity:

1. Perspective

2. Purpose

3. Plan

4. Production

5. Progression

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Investing With Purpose

info@spongenetworks.com (Sponge Networks) — Tue, 02 Mar 2010 18:00:22 +0000

Our experience has shown that if your purpose of investing is to make money, you will lose it! In fact, evidence shows that those that invest with a deeper purpose than just making money or earning a rate of return will continue to make more money. In other words, money without a mission is merely materialism. Create wealth by investing in alignment with your Soul Purpose! Listen to here how!

The Myth of Financial Independence

info@spongenetworks.com (Sponge Networks) — Tue, 23 Feb 2010 18:00:13 +0000

Does “financial independence” really exist? Is there such a person as a “self-made” millionaire? Learn the difference between financial independence and financial interdependence, and how you can become wealthy faster by focusing on becoming the latter.

Warning! - Read the Instructions First

info@spongenetworks.com (Sponge Networks) — Tue, 16 Feb 2010 19:00:31 +0000

Is knowledge really power? What due diligence questions should we be asking before jumping into an investment?

Knowledge is not power, only wisdom (applied knowledge) is power. Know what you’re doing before getting involved with your time and money. Otherwise, you are gambling your time and money away.

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The Fastest Way to Riches

info@spongenetworks.com (Sponge Networks) — Thu, 11 Feb 2010 00:00:43 +0000

What is the fastest way to real wealth? Hint: It’s not buying a financial product, a business opportunity, or cheating. Listen to learn the proven method tthe fastest and easiest way to creating true wealth in your life!

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Creating Peace of Mind With Your Money

info@spongenetworks.com (Sponge Networks) — Tue, 02 Feb 2010 19:00:04 +0000

What economic principles will create the best peace of mind in your investing? How can LOWER risk create a high return? Create more certainty in your life! Learn some simple economic principles that can secure your peace of mind and change the way you invest for the rest of your life.

Should I Diversify My Investing?

info@spongenetworks.com (Sponge Networks) — Tue, 26 Jan 2010 19:00:04 +0000

Why is diversification more risky than concentration? Are YOU really diversified? Learn the myth behind diversification and how you can become wealthier by being a more focused investor, like Warren Buffett.

Key Point: If you don’t have clarity of purpose in your investing, you will never know the difference between your destiny and a distraction!

Is Money the Root of All Evil?

info@spongenetworks.com (Sponge Networks) — Thu, 21 Jan 2010 01:30:56 +0000

If money is the root of all evil, what is the root of money? How can hating money still be the “love of money?” Could your beliefs about money limit your ability to create wealth?

Money is not the “cause” but the effect. Value creation is the cause of money. Money is only a tool and a magnifier of the soul. Learn how to contextualize money where you can become wealthy guilt-free.

Trading Vs Investing

info@spongenetworks.com (Sponge Networks) — Tue, 12 Jan 2010 19:00:23 +0000

Is trading different than investing? Is Warren Buffett a trader or investor? Which one will make you money, and which one is gambling? Listen to learn what the difference is, and how you can dramatically lessen your risk with your investments to make a greater rate of return.

More Money Working Less Hours

info@spongenetworks.com (Sponge Networks) — Tue, 05 Jan 2010 19:00:06 +0000

Leverage systems, technology, other people’s expertise, & your Soul Purpose to earn more money in less time. Listen to learn how you can start the new year using your 24 hours more effectively than merely trading time for money.

Keeping the Holiday Spirit All Year

info@spongenetworks.com (Sponge Networks) — Wed, 30 Dec 2009 19:20:55 +0000

Avoid the post-holiday blues and keep that holiday spirit all year by developing an abundance mindset and focusing on serving others. Service creates wealth in all areas of life, especially financially! Stay in abundance by serving others to get outside of your own problems.

How Government is Killing Your Retirement

info@spongenetworks.com (Sponge Networks) — Tue, 15 Dec 2009 19:00:50 +0000

Why are government programs killing our economy? How are the rest of us at fault? What is the difference between capitalism and socialism. Learn how freedom and enlightened self-interest increases prosperity, and how force and avoiding responsibility could further hinder anyone’s retirement accounts from growing.

You can also read the blog Independence or “In Dependence” for additional insight on this subject.

Book Recommendation: “The Mainspring of Human Progress” by Henry Grady Weaver

The Formula for Living Soul Purpose Prosperously

info@spongenetworks.com (Sponge Networks) — Tue, 08 Dec 2009 18:00:00 +0000

Chris Miles & Dale Clarke teach the simple formula for prosperity living your Soul Purpose. Abundantly and consistently apply your strengths and passions in all of your relationships to create true wealth. If you like acronyms, remember “SPARF” or the formula (S + P + A) x R x F.

Listen now to simply and successfully live Soul Purpose every day while creating financial independence. Also, monetize your Soul Purpose within 90 days through the application of Cash Flow Generators.

The New Rules to Get Rich

info@spongenetworks.com (Sponge Networks) — Thu, 03 Dec 2009 23:26:42 +0000

Best-selling author, Garrett Gunderson, teaches his “new rules to get rich” in today’s changing economy and lackluster investments. Learn how you can apply these new rules in your life to create change in your life today.

For more information on these rules, go to Garrett’s site - http://www.newrulestogetrich.com.

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How to Become Wealthy in a Recession

info@spongenetworks.com (Sponge Networks) — Tue, 24 Nov 2009 19:00:13 +0000

Learn how there are greater opportunities to create wealth during a recession than during the boom years. Become wealthy by applying two timeless principles - hard work and productive education. The Secret? Learn how to apply your education in the work you do every day that provides value to others. Listen now to hear more!

You can also listen to one of our previous podcasts, “How Does One Profit in This Great Depression 2.0?”

Increase Your Income in Less Than 90 Days!

info@spongenetworks.com (Sponge Networks) — Tue, 17 Nov 2009 19:00:16 +0000

How can you generate income by utilizing your top strengths and passions (Soul Purpose) in less than 90 days? Learn a practical concept we teach in our Wealth Empowerment Workshop to help you see income quickly through your strengths and passions, called Cash Flow Generators.

Listen to our previous podcast about how to become wealthy by living your Soul Purpose.