Blogs by Michael Timothy
LESSONS OF A FORMER MILLIONAIRE GONE BROKE
2/3/2010 2:33:37 PM
This Blog is for people with an open mind. Successful people, business people who are positive and dont listen to the masses.
As a business person where do you invest and how do you invest? If you are a smart investor you know the number 1 priority is: Managing Risk.
And where today can we find an investment where the risk is basically zero. Real estate, stocks and bonds, small business's. All of these require either large sums of money, debt, big overhead and variables that we cannot control. The risk is huge with to many influences that can alter your investment.
After everything we have gone through in the last few years I hope we all have learned a lesson. Its time to take some accountability on our own finances and investments.
I made millions and I lost it all. How? Letting other so called professionals run my money and listening to their advice on real estate. Boy was I a sucker and I felt horrible letting my family down. I must say it has been a humbling experience. Thank God for a loving wife and children. So now I am back at square one. At 45 who would have thought I would be in this position. I have used my childrens college fund and my retirement savings to pay the bills. Where do I go from here, I asked myself. And what opportunity is out there where I control the risk. Not having much money I decided to search for business's that were under 1000 dollars to join. Let me tell you there is a bunch of crap out there on the internet promising you a bunch of garbage with no real business. Its almost like the boiler room for stocks.
I new what I was looking for because when I had my own business I new what created success. After 20 years on the New York Stock Exchange and dealing with clients from all over the world I new what generated income. This is what I searched for: A company, first and formost that had a mission statement whereby honesty, integrity, Faith, community and helping others was their main priorites. Second a solid balance sheet and a track record of ten years plus in a growing industry. Third, products that could stand on their own and were in the position of relative annonimity but with signs of popular growth in the future. And finally I wanted the business to have good, clean strong relationships with third parties that help develop and manufacture the underlining products.
With the help of some former business asociates I was introduced to a company in the Health and Wellness Industry. A far cry from stocks and financial securities that i was used to. It was also in the business industry of Network marketing which I never had any knowledge on.
I am not a person to judge or put up preconceived notions.
To me if a business is run by hard working people with solid values who are turning a profit it doesnt matter what industry it is in.
After meeting many of the people in this company and listening to the owners I saw a simple, easy and low risk investment that if done correctly will generate solid returns. When I asked my wife about signing up she said how much? I said 500 bucks and she said no risk there, go for it.
It has been almost a year since I joined this business and many changes have taken place. One is Mr. Trump merged with these men and change the name to the Trump Network.
Second the growth of this business has increased beyond my expectations. It has not been an easy ride but thats OK. It took me over 6 years on wall street to start making good money. What I know and what I see in the future is that this company will generate more income than I ever made on the New York Stock Exchange. My wife and I have met some of the most wonderful people that we've ever come across; from Doctors, Lawyers, CEO's, teachers and stay at home Moms and Dads.
Hey, being broke for a while wasnt so bad. It was just inconvienent. It allowed me to refocus my life and my priorities and to realize life and happiness are not having a Big House or a mercedes or a beach house. Life is daily moments of a smile, a kiss, or a hug from a child, spouse or friend.
Do I enjoy Network Marketing? Most definetly! Will it be prosperous? Yes!
See what you think.
Mike and Nichol Timothy
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