Check this out. One share of Buffet's Berkshire Hathaway stock was worth around $19 in mid 60s and by end of 1998, value of that single share has shot up to $70,000. Say, if you have invested $ 10,000 back in 1965, your investment at end of 1998 would have been worth a whopping $ 51 million. WOW ! That's unbelievable. The money was left to compound [1] by itself as time went by. That's how money-leverager makes their millions.

Nevertheless, most of these 'money-leveragers' would only get to see their wealth touches million-dollar mark after they have reached their 50s or 60s. Though it's a long wait before they could see result, it is worth wait anyhow. Wouldn't it be great to be a money-leverager?

Ok, let's be honest to ourselves. Not everyone of us has patience to wait, not to mention, some of us even find it hard to come up with initial capital to invest. So, if we don't have money, what do we have to leverage then? The answer is TIME !

Leveraging Time

A day has 24 hours and all of us regardless whether we are rich or poor, have that same amount of time in a day. Time helps us to level playing field. We can no longer give ourselves excuses not to get rich. We have been given an equal opportunity in this age where every one of us can have easy access to information and knowledge on wealth building.

All we need to do is to leverage an iota of our leisure time and spend it wisely to build our pipeline [2] that will continuously pay us day and night. Always remember - pipelines are no longer an affair of rich. Pipeline belongs to people who believe that they CAN do it.

Why Leveraging Time Not Money?

"Life is a waste of time; time is a waste of life; so why waste your time when you could be having time of your life?." - Unknown

Why leveraging time not money? Well, if you were a money leverager, you wouldn't be here reading this article in first place. You would probably surfing net now scouting for stocks to invest or busy looking for real estate properties to add to your investment portfolio. Right? So I believe you are here because you do not have enough financial means to leverage money to build pipelines of ongoing residual income.

Up to this point, I hope that you understand difference between leveraging time and money. Let us put aside latter and pay more attention on concept of leveraging time as I have mentioned earlier that building pipelines through leveraging time is within everyone reach.

In next few hundred years from now, believe it or not, many millionaires will be created through either one of these two systems; E-Marketing or Network Marketing. Keep your mind open to ideas and let not prejudge it just because that you think it is not your cup of tea.

Perhaps, some of you will comprehend what is written here and proceed to set your own financial goal. Others may just call it a quit before even trying it. Whichever path you decide, always bear in mind this saying by Napolean Hill, "winners never quit, and quitters never win." End

Best Wishes,

EdChew

FOOTNOTE:

1. Do you know that ALBERT Einstein once said, "Com­pounding is eighth wonder of world." Although he was referring to atomic energy, we know that law of compounding applies just as astonishingly to financial world as it does to science.

2. "Pipelines are designed to take worry out of people's lives by putting profits into their pockets. But most of all, pipelines are designed to give people personal and financial freedom and lifelong security." - Burke Hedges, The Parable of Pipeline _________________ Copyright (c) 2004 by EdChew. All rights reserved. The author authorizes you to post above article on your Web Site or E-zine solely for personal and non-commercial use. A link to author's website www.archiquotes.info is very much appreciated.

Insurance companies tout themselves as representing peace of mind, protection and security, but at what cost. Over past 10 years, I have spent roughly 20,000 dollars in car insurance, what have I claimed? Easily less than half and I totaled a car. Is insurance just a form of legalized gambling protected by government? The McCarran-Ferguson Act of 1944 exempts insurance industry from antitrust laws, so here we are again without a choice; collusion is rule not competition. Where are ethics of lawmakers? Many states are screaming about this controversial issue and some states such as California have had some success, but with protection from top government what can consumers do?

I have personally written Governor of Pennsylvania about subject, one of my main questions was;

“I am a concerned citizen. Recently I noticed my car insurance rates increasing at a substantial rate. I investigated situation only to find out that my credit rating was making difference, not my driving record.”

The response I received from Department of Insurance follows:

This letter is in reponse to your complaint filed with Pennsylvania Insurance Dpartment through Governor Edward G. Rendell's correspondence office regarding use of credit as an underwriting tool for automobile insurance in Pennsylvania.

I have read through your concerns and it appears that you are questioning underwriting of automobile insurance. Specifically, use of credit in determining eligibility. Many different factors go into underwriting of an insurance policy, such as type of vehicle, drivers, location, etc. and most recently credit history. Pennsylvania law does not prohibit an insurance company fromusing credit as an underwriting tool so long as it is done within first 60 days of writing a policy. Under law, an insurance company is granted a 60 day window from inception of a policy to determine whether or not policy fits into company's guidelines.

In your letter, you stated credit scoring in part of rating structure and presumable must be approved by Insurance Department. Actually, credit scoring is part of a company's underwriting guidelines and Dapartment only regulates underwriting guideline to extent they are not discriminatory.

Also, Federal law under Fair Credit Reporting Act allows credit information to be used for underwriting financial and insurance transactions.

Sincerely yours,

Debra L. Roadcap

Consumer Service Investigator

The response I received is hardly what I would call an answer, of course Federal Law preempts state law and Fair Credit Reporting Act allows for use of such information, but real question is why? An answer to this question has still not been received. I believe this is a highly unethical practice in which insurance companies are being given free rule to take advantage of low-income families, single mothers, disabled, minorities and others. If government wants to do right thing they should judge consumers on what they have done individually, not what scientist’s hypothesis they might do based on history of others.