You will needmore than $1 billion if you hope to be counted as one of America’s richest 400 people. The Forbes 400 is out and the “poorest” person on the list is worth $1.3 billion. There are actually 21 people who tied for this honor. In its 25th edition, Forbes 400 for the first time, indicated that just being a billionaire doesn’t guarantee you a place on their list. In fact there are 82 billionaires who did not make the list. The collective wealth of the 400 richest Americans is worth $1.54 trillion.
As usual Bill Gates III tops the list with $59 billion. He is currently the richest man in the world but is being challenged for that title by Mexican Carlos Slim Helú who is also worth $59 billion. Sergey Brin and Larry Page the co-founders of Google are worth $18.5 billion each, up more than $4 billion since last year. They both come in at #5 on the list. The youngest member, at 33 years old is John Arnold, a former Enron trader who now runs hedge fund Centaurus Energy and has amassed a $1.5 billion fortune. The oldest member of the list is potato king John Simplot, who is 98 years old and worth $3.6 billion. Seven members of last year’s list have died, fifty people couldn’t keep up and forty-five new members joined the club.
For anyone that has never heard of Jim Rohn, you have to see this guy speak. I saw him in Chicago at the Dan Kennedy Super Conference and it was absolutely amazing! He’s actually the reason for “Tony Robbin’s” Success. I posted a 20 minute video of him below. Enjoy & leave your comments!
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Jim Rohn
Jim Rohn is an American motivational speaker and author whose work has been influential in launching or furthering the careers of many others in the personal development industry, including Anthony Robbins, Mark Victor Hansen, Brian Tracy, and Jack Canfield. Born to an Idaho farming family in the mid 1900s, Mr. Rohn began his early adulthood without acclaim, leaving college after his first year, starting a family, and trying to get by as best he could as a salaried worker. By age 25, according to his accounts, he was in a personal rut familiar to many middle class families – in debt, unable to see a way that would lead to his personal ambitions. Around this time, he was introduced to John Earl Shoaff, an entrepreneur who impressed Mr. Rohn with his wealth, business accomplishments, charisma, and life philosophy. Mr. Rohn joined Mr. Shoaff’s direct sales organization and began a process of personal development that culminated in his becoming a millionaire by age 31. It was a source of sorrow to Mr. Rohn that Mr. Shoaff, who had challenged him to reach for this goal, died one year before he achieved it. In the years that followed, Mr. Rohn discovered a demand from people outside his industry to hear his rags to riches story and the personal development philosophy that he felt had led to his accomplishments.
I’m sure that most of you have already seen The Secret. If you have not — This is the full version. It’s definitely worth checking out. Feel free to comment after viewing.
1137 SW Colorado Ave. PSL, 34953
$106,000
3 Bedroom / 2 Bath – 1200 sq. under air with dining room, eat in kitchen, living room
Tile Floors, all appliances New Roof, Solid Structure, Good Windows and
some upgrades already in place. Nice Solid Structure
Very good location off of California.
CMA (Appraisal: is at a VERY conservative $145,000
Investor Cost: $106,000
Repairs: $5,347
Gross Profit Margin $35,000
Work needed is all cosmetic, our inspection and comps were done with a
calculator in hand
Please pass this on to your other contacts that may be interested.
We will pay a referral fee if one of your contacts purchases the property.
Realtors add your commission to the price.
Call for more info, Shown by appointment only.
Rich — Cell: 772 – 708 – 4750
Office: 561-202-8717
FORT PIERCE — Larry Eugene Smith claimed he could help solve the problems of a couple who wanted to sell their Port St. Lucie home.
Instead, he allegedly swindled Nancy and George Krueger out of their house on the 2210 block of Southwest Edison Circle, claiming he bought the property for $10.
St. Lucie County sheriff’s deputies arrested Smith, 53, Tuesday at the home he moved into with his girlfriend after he persuaded the Kruegers to sign a purchase agreement for their home and power of attorney and warranty deed over to him in order for him to sell the house. Smith was charged with first-degree grand theft and taken to the St. Lucie County Jail, where he remained Friday evening.
St. Lucie County Sheriff Ken Mascara said Friday he believes Smith may have attempted the same scam with other homeowners in St. Lucie County. Even Mascara, who has a home for sale in the county, was targeted. He said he actually received a letter from Smith in July, which he hadn’t yet followed up.
The sheriff’s office is still investigating one other case involving Smith and another couple, said Detective Angela Flowers.
Smith, a licensed mortgage and real estate broker, reportedly sent the Kruegers a letter stating he worked for All Florida Mortgage Centers Inc. He said he wanted to help them sell their home, which they wanted to sell as they were looking to relocate and because of the rise in taxes and insurance. After receiving the letter, the couple met with Smith and decided to allow him help sell their home.
Smith conned the Kruegers with a “white knight” scam that targets homeowners needing to sell their homes looking for someone to “rescue” them, said Flowers.
According to Mascara, Smith probably targeted homeowners in the county with “For Sale” signs in their yards by driving around neighborhoods and then looking up the owners through the property appraiser’s Web site.
According to a sheriff’s report, Smith convinced the couple to move out of the home, telling them “it was better to show the house when it was staged” and he would take photos of it and market it, Nancy Krueger said. Not long after they moved out, one of the Kruegers’ neighbors called to tell her someone was living in their home.
The Kruegers found Smith living in the home and when the couple confronted him, he would not answer their questions or vacate the home.
When sheriff’s deputies spoke to Smith, who hasn’t worked at All Florida Mortgage since April, he showed them copies of the paperwork and said that he bought the home for $10 and would not pay the $263,208 mortgage, insurance or taxes. Money between the Kruegers and Smith never changed hands, Nancy Krueger said.
Risks to Broader Economy
From Market’s Downturn
Remain a Top Concern
By SUDEEP REDDY September 7, 2007; Page A2
Several Federal Reserve officials said the housing market’s downturn and recent market volatility have created risks to the broader economy, but that so far the fallout has remained relatively contained.
The Fed policy makers, speaking at unrelated events yesterday, endorsed views they have received from businesses across the country indicating limited impact from the recent credit crunch.
TALKING POINTS
• The Good News: Fed officials said fallout from housing- and credit-market problems so far appears to have had limited impact on the broader economy.
• The Bad News: That could change if mortgage woes continue and hurt the housing market further, they noted.
• The Bottom Line: The latest comments suggest central bankers remain cautious about making aggressive rate cuts.
Tightening credit conditions and growing trouble for the housing sector have added to worries about the overall economy. Some analysts expect the rising number of mortgage-payment delinquencies and falling home prices to eat into household wealth and constrain consumer spending, which accounts for more than two-thirds of the nation’s economic activity.
Fed officials yesterday acknowledged that concern. “If current conditions persist in mortgage markets, the demand for homes could weaken further, with possible implications for the broader economy,” Fed governor Randall Kroszner told a San Francisco audience.
The Federal Open Market Committee is set to meet Sept. 18 to discuss interest rates. Markets expect the central bank to lower the benchmark rate from the current 5.25%, but the extent of the expected cut isn’t clear. The latest comments suggest officials remain cautious about making aggressive rate cuts.
Policy makers at the meeting will have little data to assess the effect of last month’s market volatility on the broader economy. Some reports have suggested limited fallout from the credit crisis, though the job market has showed signs of softening. The biggest effect has been in housing, where home sales are slowing while delinquencies continue to rise.
The Mortgage Bankers Association yesterday said a record number of American homes entered the foreclosure process in the second quarter as homeowners with adjustable-rate mortgages continued to fall behind on payments. (See related article.) Of the 44 million home loans included in the trade group’s National Delinquency Survey, 5.12% were past due, or delinquent, on a seasonally adjusted basis, compared with 4.84% at the end of the first quarter. Meanwhile, 0.65% of the nation’s homes entered foreclosure during the quarter, topping the 0.58% record set in the first quarter.
William Poole, president of the Federal Reserve Bank of St. Louis, said there is “no question” that recent market turmoil would worsen conditions in the U.S. housing market, but that the effect on the broader economy was less clear.
“I think the probability of recession is higher than it used to be,” Mr. Poole said following a speech in London. He added that there is anecdotal evidence and also some formal data “suggesting there is a further leg down in the housing market.”
A reduction in household wealth, in part from slower home-equity withdrawals, “could pull down overall household spending,” Atlanta Fed President Dennis Lockhart said.
Fed officials are watching economic data and anecdotal reports closely for signs of a shift, he said in a speech in Atlanta, adding, “So far, I have not seen hard or soft data that provide conclusive signs that housing problems are spilling over into the broad economy.”
Most of the U.S. economy “is doing reasonably well,” said Thomas Hoenig, president of the Kansas City Fed, suggesting that the housing-related problems haven’t spread. “We still have good export demand for our goods, which is helping our manufacturing and carrying it, so I don’t see that it has carried over at this point,” he said in an interview with PBS’s Nightly Business Report.
Officials continued to raise the “moral hazard” concern, indicating that they don’t want to be seen as rescuing investors who took excessive risks.
Mr. Lockhart said policy “should enable natural market functioning,” though actions may be necessary to address concerns about financial-system stability as seen with last month’s liquidity crisis.
“Market participants should expect and actually experience accountability for their decisions through natural market processes,” he said. “Intervention can distort risks and create incentives to take exaggerated investment positions.”
The Mortgage Bankers Association report showed that markets across the country are turning in widely different performances. In Mississippi, for example, 9.33% of all loans were delinquent, while 21.5% of subprime loans, or those to borrowers with poor credit, were delinquent. In Oregon, just 2.44% of all loans were delinquent, and 8.72% of subprime loans were past due.
The report indicated that California, the nation’s biggest state, is a top concern. The report said that 17% of all subprime loans and 19% of all foreclosure starts in the second quarter were in California.
Nationally, the worst-performing sector was subprime adjustable-rate mortgages, with 16.95% of such loans past due, up from 15.75% in the first quarter and 12.24% a year earlier. Among prime adjustable-rate mortgages, 4.15% were past due, up 54% from the second quarter of 2006.
–Natasha Brereton, Andrew Peaple and Damian Paletta contributed to this article.
Robert Kiyosaki, author of “Rich Dad Poor Dad,” is an investor, entrepreneur, and educator whose perspectives on money and investing fly in the face of conventional wisdom.
In arguing that “old” advice — get a good job, work hard, save money, get out of debt, and invest for the long term — is obsolete and flawed,Kiyosaki has earned a reputation for straight talk, irreverence, and courage. His books are meant to change your thought processes in regards to money, rather than a “How-To”…but he is DEFINITELY a “must read”.
This video has been broken down into (3) 20 min. sections due to the MPG’s size.
Posted by Richie Urban 
Rich Urban 