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11 Simple Steps Toward Earning More Than Almost Everyone

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What does it take to be in the top 5 percent of American earners? The amount required is just $167,700 in adjusted gross income (gross income minus a few specific deducted expenses), according to the Internal Revenue Service.

But what would it take for you to get hit that income mark -- or the $389,000 that would put you into the much-discussed 1 percent? Read on.

1. Believe that you deserve to be highly paid. Tens of millions of Americans have a core belief that they can never earn a high income. That core belief controls all that they do, and unfortunately becomes a self-fulfilling prophecy. There is a deeper problem of not being worthy or equating high incomes with being greedy or gaudy. Money will flow to people who take consistent actions to attract it. How you use it after that is up to you.

2. Model someone who is making that high income in your chosen profession. Don't tell me that "nobody in my profession makes that kind of money." That's usually a myth that makes people feel better about their low income. You can find top 5 percenters in almost any field if you look for them. Find the ones in yours, then study -- and copy -- their beliefs and actions.

3. Learn that love of money, not money itself, is the root of evil. If you make more money (assuming you handle it properly), it will give you so many more options to influence positive outcomes in all areas of your life and the lives of others

4. Eliminate those nagging voices holding you back. Answer these questions: What would my life be like if I made $200,000 a year? What small changes could I make that would have a huge difference over time? What self-sabotaging fears are causing me to not achieve my goals?

5. Start your own business, even if it has to be part time. If your job won't lead you to big paycheck, make a 12- and 24-month plan to get your own business on the road and earning enough to replace your job income. Imagine how it would be to spend all day, every day chasing your dreams instead of helping someone else achieve their dreams. In 12, 24 or 36 months you will surely have arrived. The only question: Will you be in a new place living your dreams or will you be where you are today? The choice is yours.

6. Take 100 percent responsibility for your life and income. Stop blaming your boss, spouse, kids, lack of education or one of the thousand other crutches we all use to justify why we are not achieving our dreams. I am a high school failure and college dropout who has entered the ranks of the top income earners. Many people started out ahead of me and have not figured out a way to high incomes.

7. Take 30 minutes, minimum six days a week to study your written goals. Your goals must be written with dates and in a place you can access every day. Otherwise, time gets away from you, and the excuses pile up until you are left with no progress. Use a time planner for scheduling and to write down great ideas and form action plans.

8. Hang out with like-minded, successful people. It is said that if you want to figure out a person's income, take the average income of the five people they hang around the most. Hanging out with achievers will help you stay positive and expose you to ideas you would never get from your normal spheres of influence.

9. Read. Cut out one hour a day of television or Internet time to read books that teach you about successful people. It is estimated that 90 percent of Americans do not read a non-fiction book cover to cover after they finish their formal schooling. Then they wonder why they don't have the level of financial abundance they desire. Successful people have huge libraries (on paper and other formats) that they use to learn key strategies and keep motivated. The average American watches more than five hours of television per day -- which when multiplied over seven days is basically our other full-time job. Surely you could give up at least one of those hours going for your dreams.

10. Go for proven sectors. It is difficult to make $200,000 a year or more weaving baskets or sweaters. It is much easier to make that income in real estate, consulting, manufacturing, selling goods and services, financial services, franchising and dozens of other high-potential businesses and professions. Find a vehicle that you would like (even if it's new for you) and search out people who achieved results you admire and model what they did (remember success and failure both leave clues that can be studied).

11. Take massive action every week until it becomes a habit. Action is truly the key to success. Even the wrong action creates motion, and that motion can be altered until you are moving in the direction you desire. More dreams die in the dreamers' minds before any action is ever taken. Don't let fear stop you from moving forward.

John Jamieson is the best-selling author of "The Perpetual Wealth System." Follow him on Facebook and Twitter.

 

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