Have you ever magically attracted money
Instructions for a money magnet
Maybe there are people around you who are constantly attracting new business, orders and money. The money just flies to them, although they have to do relatively little for it. How can that be?
There are several ways to make more money, but one of the most powerful ways is by setting up a money magnet.
Money magnet? Sounds like nonsense?
Believe me, you should read the following paragraphs very carefully.
Coaching tip! Next Level Tax Coaching - Live in Germany, organize your taxes like in Monaco. For entrepreneurs, self-employed and employees, from beginners to professionals, here you get concentrated expert knowledge! What are you waiting for? Learn how the tax game works in the next level tax coaching! Apply now: convert taxes into private assets.
The money magnet attracts even more money in a seemingly magical way. Tests and success reports have clearly proven this thousands of times.
The money magnet has only two disadvantages:
- It's so simple it's easy to underestimate.
- It is precisely because it works so well that you begin to destroy it.
The money magnet works like this:
Take 10% of all receipts on your private account (or as a self-employed / entrepreneur 10% of the contribution margins (= what a business does in terms of income after deducting the production costs, but before covering the general costs or fixed costs)) and put them in a savings account.
You NEVER, NEVER, NEVER, NEVER touch this - you don't even take a euro from it.
"Great sausage ..." you are probably thinking to yourself now.
But before you form a final judgment, I ask you to read through. There is a lot more to know about this.
When you set up this special account (reserve account that you never touch, to which you transfer 10% of all income or contribution margins), you install the magic money magnet.
If you have already read some financial books, you now say: "Great, many have written that before you ..."
Unfortunately, that's not entirely correct, because people have described the 10%, but not that it is a money magnet. So neither why it works and why it is usually destroyed.
Why the money magnet works
I also read these financial books, and it said that you get rich through the reserve account (“You pay yourself first”). This is wrong. I would like to share with you the advice that a very, very wise man gave me in March 2000 in the USA:
“Alex, this is in no way about getting rich from these reserves. These reserves, if you build them up in this way, ensure that more and more money is attracted. "
I asked him what he meant: “Look, there are universal laws that we cannot understand with today's technologies. Gravity, too, existed long before Newton discovered it.
Somehow it seems to be ingrained in people's minds that money is tight and always runs away from them. By installing this money magnet and never taking a penny down, you end up with an account whose balance only goes up, goes up, goes up and becomes more. You Germans even have the saying 'money comes to money'.
And that's what it seems to be here too.
For whatever reason, this account changes people's mindsets and ensures that they don't close themselves off to money, but rather attract it. "
As soon as I was back in Germany, I started setting up this money magnet. Business was okay then. I made good money, but it was exhausting and money always seemed somehow tight. So I went here strictly every week and looked at the contribution margins or cash receipts I had and distributed 10% of them each time. Even if I sold an old chair for 100 euros on Ebay, I put 10% of it aside.
Three years later I had so much money in my accounts (I don't mean in the money magnet account, that was okay, but the money was piling up on all accounts) that I made the first and fatal mistake:
The fatal mistake with the money magnet
I thought to myself: “Why continue to build up reserves? I have so much money in my account anyway that I can't even spend it. "
Incidentally, my wife at the time started with the reserves together with me, and she had the same phenomenon: an unbelievable excess of money. And she made the same train of thought and mistake.
Three years later there was next to no money left. As magical as it went upstairs (of course there was a lot of work behind it), now the bad luck somehow seemed to stick to my hands.
I just couldn't understand how everything could change from very simple and easy to complicated and unlucky.
One night in bed I remembered the words of my wise advisor from the USA. I started digging out and comparing my sales and earnings statistics that night. I did that in relation to the times (of which I was not aware at the time) when I set up the money magnet and when I stopped supplying it with "electricity". And you could absolutely see it in the statistics.
Shortly after I set up the money magnet, income and profits went up. As soon as I stopped, they started to wear off. No doubt, total timing.
The next morning I asked my then wife to show me her numbers, and I was stunned. The exact same pattern, the same phenomenon.
Of course, I immediately began to reinstall the money magnet and supply it with electricity. My wife at the time, too, of course. And four years later ... what do you think? Exactly, four years later there was so much money again that it was actually no longer worth building up reserves.
But this time I was smarter, I kept doing it. In order not to tempt me to ever touch this account again, I even threw my PIN and TAN into the shredder.
What happens if you neglect the money magnet
I don't want to withhold another story from you, because it is so important that you really internalize it completely. In 2014 I gave my friend and business partner Hendrik Klöters from the Unternehmerkanal the tip about the money magnet.
What I really appreciate about my friend Hendrik is that he is one of those people who get things done right away. No sooner said than done, the money magnet was installed. A year later he told me the following story:
“Alex, you don't believe what happened. I set up the money magnet and did it just like you said for at least half a year. Then all of a sudden I had so much turnover that I couldn't get enough of the work to build up the reserves because of all the work. I simply didn't have time to take care of the transfers.
Sometime two months later, when things got a little quieter, I remembered that I hadn't built up any reserves for two months. I began to make up for this and from then on to form again. Another two months passed. Then it was the end of the year and time for a sales statistics analysis.
I looked at the numbers and wondered about two things: first, sales were steadily increasing; second, in the middle of the year there was a two-month dent.
I tried to find out why that could have been, and it was also incomprehensible to me from the other numbers (and there are a lot of numbers in e-commerce).
Suddenly it fell like scales from my eyes: When were the two months again in which I had forgotten to build up the reserves? Bingo! The dent was exactly during this period. "
The funny thing about Hendrik’s story is that he did not consciously not do it and also not how I found and corrected the mistake.
He'd just paused for two months, then picked it up again, paying no special attention to it. Only in retrospect did he wonder about the dent and again determine the timing of the money magnet.
How to see the money magnet
So the money magnet seems to be like some kind of electromagnetic money magnet. He gets his "electricity" from the inflow of the regular 10% supply.
Internally in my business I call the money magnet “taboo reserve”. Taboo reserve because it is absolutely taboo to take one euro from this reserve and because it is absolutely taboo to let the electricity supply die down.
One of my cleverest mentors let me know: "A law can be recognized by the fact that it explains known phenomena / appearances and makes future phenomena / appearances predictable."
How to set up a money magnet despite debt
If you already have debts that you are paying off, you will probably think: “Of course I will set up the money magnet after the debts have been paid, because you get almost no interest on credit accounts. First I pay off my debts because the interest on the debt is much higher ... "
Mathematically, you are absolutely right.
That would also be logical to think. I recommend the following (also from hundreds of tests): Use 5% to pay off debt and 5% to set up the money magnet. The money magnet does not work through mathematics, debt and credit interest, capital gains tax, etc.
It is simply an account that has money in it, the balance of which is constantly growing, and which ensures that more money comes in. Please don't make this mistake. Mathematically, of course, this argument is completely okay. In practice, a few years later you will find that math, credit and debt interest are not everything.
Even more knowledge for your financial and personal success - now for free!
If you liked this post about the money magnet and you want to know more about the behavior and thought patterns of successful and happy people, you should become a member of my success community for free.
There you will receive exclusive and timeless tips on the topics of success, finances and real estate as well as valuable lessons from my new book "Richer than the Geissens - with zero euro start-up capital to become a real estate millionaire in five years". This blog post is also an excerpt from a book chapter.
In the book you will find 43 timeless success laws that successful and happy people around the world are already using to be financially free and fulfilled. It's the same laws that made me a real estate millionaire.
Sign up below for free and find out, among other things:
- How to develop an attitude that attracts money and wealth
- How you can earn a lot of money in different ways with as little effort as possible
- How to develop "machines" with which you can build up a passive income
- How to find the right business idea and market niche for your situation and skills
- How to build a power network that will make you successful faster
- How you get into the world of real estate and what you should pay attention to
Are you interested in the above topics? Then register now for free below.
Alex Düsseldorf Fischer
Next Level Tax Coaching 2021: Apply now
Also in 2021, many self-employed and entrepreneurs will have real pain with their tax and duty burden! We have combined 3 well-known areas of expertise into a completely new strategy that enables service providers to convert taxes into private assets.
Convert taxes into personal wealth
Reduce taxes and invest - learn, just with your brains, to build up a cash flow-rich million dollar fortune and thus make your life more and more relaxed:
- What do you do with bacon fat
- What is a heartbreak roleplaying game
- What percentage of the lottery winners file for bankruptcy
- Crawls Google Quora
- How is fraud detected in chess com
- Fortnite is a dead game
- Why do bodybuilders eat chicken breast
- Who is your favorite comic book writer
- How often do bodybuilders take steroids
- Who was the first top Quora writer
- What does Sasuke mean in Japanese
- What does 33 BMI mean
- How is cpm calculated
- How rich help the poor
- Why is Russia a backward country
- Why don't people want to be Christian?
- Are Italians Aryans
- How many countries have a mixed economy?
- What was Enrons' business model
- What books should Africans read about Africa?
- How many ways are measured
- Why is health education important today
- What is a fulfilled life
- What do actuaries do