Trump university wealth building 101 your first 90 days on the path to prosperity

Table of Contents OTHER BOOKS IN THE TRUMP UNIVERSITY SERIES Title Page Copyright Page Foreword HOW WILL THIS BOOK MAKE YOU WEALTHY? MAKE TRUMP UNIVERSITY PART OF YOUR WEALTH-BUILDING PLAN PREFACE ABOUT THE AUTHORS I - THINK RICH: HOW TO UNLEASH YOUR “INNER TRUMP” Chapter - BUILD WEALTH—MY WAY GET PASSIONATE BE TENACIOUS THINK BIG LEVERAGE KNOWLEDGE BE THOROUGH TAKE ACTION TAKE RISKS KNOW YOUR AUDIENCE LEARN TO NEGOTIATE LISTEN TO YOUR GUT ENJOY COMPETITION BE YOUR OWN BEST ASSET GET GOING! Chapter - DEVELOP A MINDSET FOR SUCCESS DIFFERENCE 1: MILLIONAIRES ELIMINATE MINIMUM WAGE ACTIVITIES FROM THEIR LIVES DIFFERENCE 2: MILLIONAIRES UPGRADE THE VALUE OF THEIR TIME DIFFERENCE 3: MILLIONAIRES NEVER ASK “HOW MUCH DOES IT COST?”; MILLIONAIRES ASK SKILL 1: CONTROL YOUR THOUGHTS AND EMOTIONS SKILL 2: USE THE RIGHT TOOLS SKILL 3: TAKE ACTION IN THE PRESENT MOMENT Chapter - LEARN MILLIONAIRE HABITS SPIRITUAL HEALTH BALANCE PRIORITY MANAGEMENT GREAT VISION PLAN SETTING II - PLAN SMART: YOUR PLAYBOOK FOR FINANCIAL SUCCESS Chapter - WRITE YOUR FINANCIAL VISION STATEMENT VISUALIZE YOUR IDEAL LIFE WRITE IT DOWN REHEARSE YOUR TRUE PRIORITIES BELIEVE IN YOURSELF SURROUND YOURSELF WITH SUPPORTIVE PEOPLE Chapter - CALCULATE WHAT YOU NEED TO BECOME FINANCIALLY FREE CONTROLLING DEBT Chapter - DRAFT YOUR FINANCIAL DREAM TEAM FINANCIAL PLANNERS AREN’T ALWAYS WHAT THEY’RE CRACKED UP TO BE BUILD A TRUSTED TEAM PLAYERS ON MY DREAM TEAM III - ACT NOW Chapter - ADOPT THE SEVEN PRACTICES OF THE RICH PAY YOURSELF FIRST REINVEST YOUR INVESTMENT RETURNS RECEIVE AUTOMATIC INVESTOR RATES OF RETURN PAY ATTENTION TO YOUR MONEY ADOPT MY AUTOMATIC MONEY SYSTEM BECOME FINANCIALLY RESPONSIBLE LIVE DEBT-FREE Chapter - GO ON A DEBT DIET HABIT 1: NEVER USE CREDIT ON THE LENDER’S TERMS HABIT 2: ESTABLISH YOUR DEBT ELIMINATION PLAN A DEBT ELIMINATION STORY: STAN AND BARBARA YOUR DEBT-FREE DATE Chapter - IMPLEMENT AN I DON’T WANT TO DO A BUDGET AUTOMATIC MONEY SYSTEM AUTOMATIC MONEY SYSTEM IV - BE THE BOSS: THE ENTREPRENEUR’S PATH TO WEALTH Chapter 10 - THINK LIKE AN ENTREPRENEUR ENTREPRENEURIAL MISCONCEPTIONS ESSENTIAL ENTREPRENEURIAL POWER SKILLS OVERCOMING OBSTACLES Chapter 11 - START YOUR OWN BUSINESS STEP 1: SEARCH FOR MANY BUSINESS IDEAS IDEAS CAN COME FROM ANYWHERE STEP 2: SELECT THE ONE MOST PROMISING OPPORTUNITY STEP 3: DEVELOP AN EFFECTIVE EXECUTIVE SUMMARY STEP 4: CREATE YOUR BUSINESS IDENTITY STEP 5: BUILD YOUR MILESTONE CHARTS STEP 6: MOBILIZE RESOURCES STEP 7: CAPTURE THAT FIRST MAGIC CUSTOMER Chapter 12 - BUY YOUR OWN BUSINESS STEP 1: FIND THE RIGHT BUSINESS FOR YOU STEP 2: KNOW WHERE TO SEARCH STEP 3: VISIT THE BUSINESS AND MEET WITH THE SELLER STEP 4: VALUE THE BUSINESS STEP 5: NEGOTIATE THE DEAL STEP 6: FINANCE THE PURCHASE STEP 7: DO YOUR OWN DUE DILIGENCE STEP 8: CLOSE THE DEAL YOUR NEXT STEP: TAKE THE BALL AND RUN WITH IT FOR MORE INFORMATION V - OWN PROPERTY: THE REAL ESTATE PATH TO WEALTH Chapter 13 - WHY YOU SHOULD INVEST IN REAL ESTATE CHALLENGE DOESN’T MEAN IMPOSSIBLE Chapter 14 - BUILD INCOME AND WEALTH WITH RESIDENTIAL PROPERTIES VOLATILITY: STOCKS UNDERPERFORM PROPERTY EDUCATION PRECEDES SUCCESS Chapter 15 - EXPAND YOUR PROPERTY PORTFOLIO LOWER PRICED AREAS EMERGING GROWTH AREAS EMERGING RETIREMENT/SECOND HOME AREAS COMMERCIAL PROPERTIES SELF-STORAGE MOBILE HOME PARKS PROFITABLE POSSIBILITIES WITH ZONING PROPERTY AND PROPERTY-RELATED STOCKS VI - INVEST IN WALL STREET: THE STOCK MARKET PATH TO WEALTH Chapter 16 - GROW YOUR RETIREMENT NEST EGG WITH STOCKS AND BONDS START WITH TWO SMART STEPS SEVEN SMART WAYS TO INVEST FOR RETIREMENT HOW TO FIND A GOOD STOCK HOW TO PICK A GOOD MUTUAL FUND BENEFITS OF EXCHANGE-TRADED FUNDS BONDS OFFER A STEADY CHOICE FOR MORE INFORMATION Chapter 17 - DIVERSIFY YOUR INVESTMENT PORTFOLIO ALLOCATE FIRST, THEN DIVERSIFY LOOK FOR DIFFERENT TYPES OF STOCKS AND BONDS THINK GLOBALLY THINK ABOUT YOUR TIME LINE INVESTMENT STYLES THAT WORK FOR YOU VII - PROTECT YOUR WEALTH Chapter 18 - SAVE MONEY WITH THESE TAX STRATEGIES UNDERSTAND WHAT YOU’RE UP AGAINST MAKING TAX CHANGES MEANS MAKING MORE MONEY IMPLEMENTING MY TAX SECREST FOR MORE INFORMATION Chapter 19 - PROFIT FROM AN ESTATE PLAN TOOLS FOR ESTATE PLANNING LEAVE BEHIND THE BLUEPRINTS FIVE ESTATE PLANNING STEPS FOR MORE INFORMATION Chapter 20 - PROTECT YOUR ASSETS LAYERING AN ASSET PROTECTION PLAN AVOID THESE PITFALLS RECORD KEEPING INSURANCE: THE DEFENSE OF LAST RESORT ESSENTIAL STEPS TO PROTECT YOUR ASSETS FOR MORE INFORMATION NOTES INDEX OTHER BOOKS IN THE TRUMP UNIVERSITY SERIES Trump University Real Estate 101: Building Wealth with Real Estate Investments Trump University Marketing 101: How to Use the Most Powerful Ideas in Marketing to Get More Customers to Keep Them Trump University Entrepreneurship 101: How to Turn Your Ideas into a Money Machine Trump University Asset Protection 101: Tax and Legal Strategies of the Rich vision, great nature of Harvesting your business Health/stress, entrepreneurship and Helicopter-training facility Higher power Hill, Napoleon (Think and Grow Rich) Hilton properties, Atlantic City Hinneberg family Home ownership: mortgage payment acceleration national median price for single-family houses refinancing or second mortgages trap of debt in Hyatt Hotel Idea generation idea funnel PEP (Proactive, Energetic, and Purposeful) approach Ideal life, visualizing your Identity, creating your business I don’t want to a budget automatic money system See Automatic money system Income: investing for splitting types, and tax strategies deferred earned passive portfolio tax-free Inertia, as obstacle to entrepreneurship Influence: communication as persuasion equation (five steps) Instincts Insurance: agents asset protection Irrevocable Life Insurance Trust life term (recommended) Integrity Investing/saving for retirement art versus science asset allocation (see Asset allocation; Portfolio management) Automatic Investment Plan (AIP) bonds/bond funds buying low/selling high controlling emotions diversification (see Portfolio management) exchange-traded funds (ETFs) investor comfort, five categories of irrationality/rationality of markets life stages/situations and long-term focus message of markets, versus market pundits mutual fund selection “pauper” stories can’t afford it don’t know where to put the money small amount put aside each month won’t really make difference “playing the market,” portfolio management (see Portfolio management) real estate (see Real estate investment) risk management(see also Risk) savings amount, maximizing sources of information stocks: categories (value, growth, blend) fallen angel companies finding a good stock growth companies homebuilders mortgage companies property and property-related stocks takeover candidates trends, identifying big trends undervalued companies tips (seven) worksheet, determining your retirement needs Irrevocable Life Insurance Trust Jealousy Junk food for the mind Karlgaard, Rich Kipling’s “six honest serving men,” Kiyosaki, Robert Knowledge: book smart versus street smart leveraging Lawsuit explosion Learn/know/show formula Lease(s): assignment automobiles commercial real estate designing for target market transfer of, when buying a business Legal entities: C and S corporations creating business identity fraudulent use of corporations general partnerships layering limited liability corporations (LLCs) limited partnerships (LPs) pitfalls to avoid sole proprietorships types of Leveraging knowledge/creativity Library: personal use of versus buying books Lien search Life as performance Life insurance: Irrevocable Life Insurance Trust types of Life money Life stages/situations, and investment styles Limited liability corporations (LLCs) Limited partnerships (LPs) Living trust, assets that belong in Loan underwriting, six Cs of Loss, potential for financial (as obstacle to entrepreneurship) Lower priced areas, real estate investment in MAP (mindset/actions/process), entrepreneurship Marketing techniques, resisting Medicare tax Mental diet Milestone charts Millionaire Mentorship Program Millionaire Mindset and Habits Worksheet Mindset/actions/process (MAP) and entrepreneurship Mindset for success changing habits controlling your thoughts and emotions differences between millionaires and paupers Psycho Neuro Duplication stories people tell themselves that prevent them from becoming rich taking action in present moment using right tools work-hard-get-ahead mindset as hindrance Minimum wage activities, eliminating Mitchell, Thomas (The Commercial Lease Guide Book) Mobile home parks Money magazine Money market funds Monthly credit card payments, committing 10 percent of gross income to Monthly expenses, tracking Monthly investment, automatic Morningstar Mortgage(s): paying off faster refinancing second securities Municipal bonds Mutual funds See also Investing/saving for retirement bonds equity favorites investor comfort category and load/no-load sales agents selecting National Association of Personal Advisors (NAPFA) web site Negotiating: buying your own business skills Noncompete issues, in buying a business Opportunity(ies): lack of, as obstacle to entrepreneurship Opportunity Screening Checklist selecting most promising Partnership(s): general limited Passion Passive income Paying yourself first PEP (Proactive, Energetic, and Purposeful) approach to idea generation Performance, life as Personal alterations Personal blueprint Personal Monthly Financial Statement, downloadable Personal potential, realizing (in entrepreneurship) Persuasion equation (five steps) Planning proactively, for asset protection Plan setting action versus production quotas chunking it down goal versus plans personal alterations planning high putting vision on paper reading plan every day obsessively Portfolio income, tax strategies Portfolio management asset allocation diversification in stocks/bonds favorite equity mutual funds in major U.S categories global investments life situations, and investment styles model portfolio samples Morningstar nine-box grids (stock/bonds) real estate investment and rebalancing risk and risk-free savings risk tolerance stock categories (value, growth, blend) time horizon and time lines Portman, Janet (and Steingold; How to Negotiate Leases for Your Small Business) Preventive maintenance Price, business purchase: allocation of negotiating Pricing your business’s product Priorities: asset protection objectives management rehearsing true Probate: avoidance with Revocable Living Trust problems caused by Problem solving skills Professionals See Financial advisors Promissory note Property management action steps (eight) attracting top-flight tenants commercial properties companies crafting winning value proposition creating flawless move-in designing lease for target market Real Estate Investor Self-Assessment (downloadable) requiring rent on time, every time retaining top-flight tenants verifying before buying working to increase rent revenues Property portfolio See Real estate investment Psycho Neuro Duplication technique Rapport/trust Rates of return, automatic investor Rational/irrational markets Real estate agents Real estate attorneys Real estate investment: benefits amortization, wealth from appreciation, wealth from equity, instant income flow income tax advantages inflation, wealth from leverage liquidity, optimal portfolio diversification strategic management CPI versus Dow Jones diversification historical perspective, residential properties undervalued Trump’s first success Real estate investment alternatives alternatives (list) commercial properties emerging growth areas emerging retirement/second home areas lower priced areas property management companies tenant-assisted management mobile home parks self-storage stocks related to: homebuilders mortgage companies real estate investment trusts (REITs) zoning, profitable possibilities with Real estate investment in residential properties education preceding success losses due to people not property national median price for single-family houses stocks versus strategy of maximizing returns through strategic management action steps (eight) attracting top-flight tenants commercial properties companies crafting winning value proposition creating flawless move-in designing lease for target market requiring rent on time, every time retaining top-flight tenants verifying before buying working to increase rent revenues strategy of paying less than property is worth buying at bargain price finding unused/underutilized space improving aesthetics repositioning property more profitably strengthening/maintaining borrower profile Real estate investment trusts (REITs) Real Estate Investor Self-Assessment (downloadable) Real Estate Wealth Calculator Rebalancing portfolio Recordkeeping Reinvesting investment returns REITs See Real estate investment trusts (REITs) Resistance, meeting Resources: lack of, as obstacle to entrepreneurship mobilizing Responsibility, financial Retirement See Investing/saving for retirement Retirement/second home areas, as real estate investment Revocable Living Trust Risk: buying a business and controlling Gordon’s 1-in-5,000 rule minimal tolerance for, as obstacle to entrepreneurship portfolio management and returns/rewards and risk-free savings wealth building and Sales funnel S corporations Seasonal rentals Section 1031 exchanges Securities Exchange Commission (SEC), conventional wisdom Self-confidence, lack of Self-storage Self-worth, size of bank account and Seller financing Senior discounts Seven practices of the rich See Wealth-building by adopting seven practices of the rich Showmanship Silver State Helicopters Skills needed for entrepreneurship acting decisively, in present moment assessing present situation behaving with integrity being unstoppable brainstorming communication controlling thoughts/emotions decision making going after bold visions negotiating firmly and win-winly problem solving resource mobilization using right tools Small Business Administration (SBA) Social Security Administration Sole proprietorships Spendthrift Trust Spiritual health Spouse/significant other, financial planning advice from Starting a business business identity capturing first magic customer executive summary financing milestone charts mobilizing resources searching for business ideas selecting most promising opportunity State income tax Steingold, Fred (Portman and; How to Negotiate Leases for Your Small Business) Stockbrokers Stock market See also Investing/saving for retirement: Dow Jones tumble (October 1987) historical perspective on stock price gains “Stories” people tell themselves that prevent them from becoming rich Supplier concentration issues, in buying a business Supportive people, surrounding yourself with Takeover candidates Taxes benefits of entrepreneurship federal income tax Federal Insurance Contributions Act (FICA) income types deferred earned passive portfolio tax-free Medicare planning (fictitious example) quiz, downloadable Social Security sources of information state income tax strategy implementation benefits C corporations general partners individuals limited liability corporations limited partners S corporation shareholders taxable versus tax-free yields tax-efficient advantage of ETFs transfer taxes/bulk sales taxes types of Tenacity Tenant(s): attracting/retaining quality as property managers Term insurance Thinking big Thinking rich (unleashing your “Inner Trump”) Thinking rich building wealth the Trump way developing mindset for success learning millionaire habits Thoroughness Thoughts/emotions, controlling Time: eliminating minimum wage activities horizon, and portfolio management management (see Priorities) upgrading value of Tools: Abraham Lincoln’s ax-sharpening advice using right Trade publications Trading for a living, two major pitfalls Training, issue in negotiating business purchase Travel: commercial versus private reducing expenses with research Trends, identifying Trump, Donald J.: Apprentice, The on building wealth (see Wealth-building the Trump way) mentioned as own best branding asset “You’re Fired,” Trump International Hotel & Tower in Las Vegas Trump Place Trump Tower Trump University at 40 Wall Street Trust(s): Charitable Remainder Trusts (CRTs) Irrevocable Life Insurance Trusts living trusts, assets that belong in real estate investment trusts (REITs) Revocable Living Trusts Spendthrift Trusts Trusted team, building See also Financial advisors Trust/rapport, gaining Trying Game, Edison’s Undervalued companies, as stock opportunity Unstoppable, being Unused/underutilized space U.S Treasury securities Vacation homes Valuation of a business Value investing Value proposition, crafting winning Value of time, upgrading Vanguard’s Index 500 Fund Virgin Atlantic Airways Vision: believing in yourself bold financial vision statement difference, financial goal versus financial vision downloadable exhibit goal to get debt-free rehearsing true priorities surrounding yourself with supportive people verbalizing briefly as personal habit vision-planting questions visualizing your ideal life writing it down Volatility Wall Street Journal, Wall Street property (40 Wall Street) Wealth-building by adopting seven practices of the rich adopting automatic money system avoiding debt and living debt-free become financially responsible paying attention to your money paying yourself first receiving automatic investor rates of return reinvesting investment returns Wealth-building the Trump way being your own best asset enjoying competition knowing your audience learning skills for negotiating leveraging knowledge listening to your gut passion risk taking taking action tenacity thinking big thoroughness Work-hard-get-ahead mindset World trends, unstoppable Worst Things First List Wynn, Steve Zoning a This material has been condensed from What Would a Billionaire Do ? by Marshall Sylver Copyright © pending Used with permission Any other use, please contact www.sylver.com b This material has been condensed from A Wallet Once Expanded, by Marshall Sylver Copyright © pending Used with permission Any other use, please contact www.sylver.com c Note: A blank version of this exhibit can be downloaded from www.trumpuniversity.com/wealth building101 for your personal use ... Congress Cataloging-in-Publication Data: Trump University wealth building 101 : your first 90 days on the path to prosperity / edited by Donald J Trump; managing editor Dorianne R Perrucci p cm... Marketing to Get More Customers to Keep Them Trump University Entrepreneurship 101: How to Turn Your Ideas into a Money Machine Trump University Asset Protection 101: Tax and Legal Strategies of the. .. INFORMATION NOTES INDEX OTHER BOOKS IN THE TRUMP UNIVERSITY SERIES Trump University Real Estate 101: Building Wealth with Real Estate Investments Trump University Marketing 101: How to Use the Most