BAMM

[Tiesto]

Shannon I've mentioned this before in your journal, but I'd like to bring it up again, for someone who is born in the first world country, they understand from young age that a multi-millionaire in their national currency means a ton of money, but for someone who is born in the third world country, based on the currency that they're familiar with most of their lifetime, even 5-10 millions is pretty average, it is just like a monthly paycheck, how does BAMM 2.0 affect these differences in beliefs regarding the value of currencies?

[Elusive]

Could just become MM, one currency at a time, yes?

[Shannon]

Shannon I've mentioned this before in your journal, but I'd like to bring it up again, for someone who is born in the first world country, they understand from young age that a multi-millionaire in their national currency means a ton of money, but for someone who is born in the third world country, based on the currency that they're familiar with most of their lifetime, even 5-10 millions is pretty average, it is just like a monthly paycheck, how does BAMM 2.0 affect these differences in beliefs regarding the value of currencies?

The only solution to that that I have come up with so far is to specify a currency to base the value of wealth on. The natural choice is the US Dollar, but the problem with creating a program based on a specific currency is that the values of currency change, and what might be the best choice this year might not be next year.

To get around that, it seems to me possible that I could make a program to become a billionaire, but... that concerns me because there may be people who think, "Why not go for billionaire instead?" who are not in those third world countries, who do not understand the massive undertaking it is to become a millionaire... and they would basically bite off more than they could chew in a reasonable time frame, and then I would look bad because they didn't have the self control to make themselves a millionaire before going for billionaire.

Of course I could specify that the billionaire program would only be useful if you were already a millionaire... that could work. I think I will do that. Better not to tie it to a specific currency. So, once I am done building BAMM, I'll build Become A Billionaire too.

[THolt]

Will this billionaire program be multi staged? I was thinking of this idea for a billionaire as a custom when you're offering them again specifically to focus on deservedness beliefs of that income level.

I suggested when I first joined the forum about a program that dealt with becoming a billionaire with a focus on believing you deserve to be a billionaire. I believe lack of deservedness is the reason why lottery winners sabotage their winnings because they do not believe they deserve subconsciously their winnings. Movie stars and celebrities sabotage their success because they don't believe they deserve it subconsciously.
So making yourself believe that you deserve to be a millionaire or billionaire would in theory allow you to achieve success and maintain it.

[Shannon]

There is a complex web of reasons why winners of the lottery lose it all. Lack of deservedness could be one reason, but at best, it will tend to be a small reason overall, if it's present. Much more common a cause is lack of self control (spend spend spend!), guilt for having when others do not (even when those others have made no real effort to have also), shame at not "taking care of" family friends, beggars, panhandlers, etc., fear of being rejected by those people who they rely on for love, affection, companionship and sense of self worth if they do not "share", and did I mention lack of self control? There's also a strong tendency for them to spend huge amounts of money on status symbols that either do nothing to advance or maintain their current level of wealth, or actually drain it away. (Rolls Royces, Bentleys, Maserattis, yachts, aircraft, etc.)

If I have a million dollars, why am I going to spend $250,000 on a car that then requires $25,000+ a year in insurance costs alone, when a good used 2 year old Honda or Toyota or (take your pick of quality cars with sane prices and maintenance fees) will get me there and back just as well? Most of the self made millionaires I talked to during the research for this program had a very similar response. Why spend more on a status symbol, when I know I'm a millionaire? Who do I have to impress?

The issue there is, they have this million dollars, but their mindset is not that of a millionaire - either inherited or self made - because they skipped all the conditioning that goes along with those things. They still have the insecurity that says, "I'm not good enough with a million dollars. I have to prove I have it by buying these status symbols." A self made millionaire, by contrast, understands the value of status symbols, but also knows that frugality is a better bet for getting there and staying there unless you have so much money that it doesn't matter what you do.

Usually you see old money driving Rolls Royces, and that's because they've figured out how to make their wealth self perpetuating by managing it properly. They also don't go buy a new one every few years... they tend to get one and maintain it for a long time. They insist on getting a good return on their investment.

I know of millionaires who were given Rolls Royces and actually rejected the gift, because the status symbol would require them to give up their comfortable, casual lifestyle, and would also require so much to maintain that it would become a liability for them.

If I make a billionaire set, it would be very similar to the millionaire set. Multi-staged most definitely.

[Tiesto]

Shannon I've mentioned this before in your journal, but I'd like to bring it up again, for someone who is born in the first world country, they understand from young age that a multi-millionaire in their national currency means a ton of money, but for someone who is born in the third world country, based on the currency that they're familiar with most of their lifetime, even 5-10 millions is pretty average, it is just like a monthly paycheck, how does BAMM 2.0 affect these differences in beliefs regarding the value of currencies?

The only solution to that that I have come up with so far is to specify a currency to base the value of wealth on. The natural choice is the US Dollar, but the problem with creating a program based on a specific currency is that the values of currency change, and what might be the best choice this year might not be next year.

To get around that, it seems to me possible that I could make a program to become a billionaire, but... that concerns me because there may be people who think, "Why not go for billionaire instead?" who are not in those third world countries, who do not understand the massive undertaking it is to become a millionaire... and they would basically bite off more than they could chew in a reasonable time frame, and then I would look bad because they didn't have the self control to make themselves a millionaire before going for billionaire.

Of course I could specify that the billionaire program would only be useful if you were already a millionaire... that could work. I think I will do that. Better not to tie it to a specific currency. So, once I am done building BAMM, I'll build Become A Billionaire too.

So just to make sure I understand this correctly, for those people who are already multi-millionaire in their national currency (which could means nothing if the value of currency is weak) these people should go straight to 'Become a Multi-Billionaire' instead of 'Become a Multi-Millionaire'?

[Shannon]

Shannon I've mentioned this before in your journal, but I'd like to bring it up again, for someone who is born in the first world country, they understand from young age that a multi-millionaire in their national currency means a ton of money, but for someone who is born in the third world country, based on the currency that they're familiar with most of their lifetime, even 5-10 millions is pretty average, it is just like a monthly paycheck, how does BAMM 2.0 affect these differences in beliefs regarding the value of currencies?

The only solution to that that I have come up with so far is to specify a currency to base the value of wealth on. The natural choice is the US Dollar, but the problem with creating a program based on a specific currency is that the values of currency change, and what might be the best choice this year might not be next year.

To get around that, it seems to me possible that I could make a program to become a billionaire, but... that concerns me because there may be people who think, "Why not go for billionaire instead?" who are not in those third world countries, who do not understand the massive undertaking it is to become a millionaire... and they would basically bite off more than they could chew in a reasonable time frame, and then I would look bad because they didn't have the self control to make themselves a millionaire before going for billionaire.

Of course I could specify that the billionaire program would only be useful if you were already a millionaire... that could work. I think I will do that. Better not to tie it to a specific currency. So, once I am done building BAMM, I'll build Become A Billionaire too.

So just to make sure I understand this correctly, for those people who are already multi-millionaire in their national currency (which could means nothing if the value of currency is weak) these people should go straight to 'Become a Multi-Billionaire' instead of 'Become a Multi-Millionaire'?

For anyone who is already a multi-millionaire... regardless of currency.

But it's not going to be a case of just going through an existing script and replacing all reference to millionaire with billionaire. There's an entirely new set of requirements past millionaire, but shy of billionaire.

[THolt]

Shannon, what if all of the problems you mentioned with lottery winners such as lack of self control, guilt in giving to family is related to deservedness. For instance, a person who gives to family out of guilt does not value themselves enough to say no and put boundaries up therefore will succumb to pressure by family for money. Lack of self control because of a person is insecure in themselves that they try to satisfy emptiness with possessions instead of realizing that happiness comes from within.

[Elusive]

Can I do WM right after BAMM or is it recommended that I do it before?
Currently doing the latest AM.

[Tiesto]

Shannon I've mentioned this before in your journal, but I'd like to bring it up again, for someone who is born in the first world country, they understand from young age that a multi-millionaire in their national currency means a ton of money, but for someone who is born in the third world country, based on the currency that they're familiar with most of their lifetime, even 5-10 millions is pretty average, it is just like a monthly paycheck, how does BAMM 2.0 affect these differences in beliefs regarding the value of currencies?

The only solution to that that I have come up with so far is to specify a currency to base the value of wealth on. The natural choice is the US Dollar, but the problem with creating a program based on a specific currency is that the values of currency change, and what might be the best choice this year might not be next year.

To get around that, it seems to me possible that I could make a program to become a billionaire, but... that concerns me because there may be people who think, "Why not go for billionaire instead?" who are not in those third world countries, who do not understand the massive undertaking it is to become a millionaire... and they would basically bite off more than they could chew in a reasonable time frame, and then I would look bad because they didn't have the self control to make themselves a millionaire before going for billionaire.

Of course I could specify that the billionaire program would only be useful if you were already a millionaire... that could work. I think I will do that. Better not to tie it to a specific currency. So, once I am done building BAMM, I'll build Become A Billionaire too.

So just to make sure I understand this correctly, for those people who are already multi-millionaire in their national currency (which could means nothing if the value of currency is weak) these people should go straight to 'Become a Multi-Billionaire' instead of 'Become a Multi-Millionaire'?

For anyone who is already a multi-millionaire... regardless of currency.

But it's not going to be a case of just going through an existing script and replacing all reference to millionaire with billionaire. There's an entirely new set of requirements past millionaire, but shy of billionaire.

Ah I see... This problem has been bugging my mind, good thing I crosscheck about this with you.. Even if I become a multi-billionaire in my national currency it is only in the range of hundreds of thousands of US dollars, not even 1 million US dollar yet.. LOL! :p

So I guess I'm going to have to wait until your 'Become a Multi-Billionaire' sub to be released then, since I'm already a multi-millionaire (in my currency which only equal to few hundreds bucks of US dollar).. lol...

[Shannon]

Shannon, what if all of the problems you mentioned with lottery winners such as lack of self control, guilt in giving to family is related to deservedness. For instance, a person who gives to family out of guilt does not value themselves enough to say no and put boundaries up therefore will succumb to pressure by family for money. Lack of self control because of a person is insecure in themselves that they try to satisfy emptiness with possessions instead of realizing that happiness comes from within.

All that and much more is dealt with.

[Shannon]

Can I do WM right after BAMM or is it recommended that I do it before?
Currently doing the latest AM.

Given that most people will need to use BAMM for years at a time... do it before if you wanna do it.

[THolt]

Not to get ahead, but what will go into the Become a Billionaire program?

[Shannon]

Not to get ahead, but what will go into the Become a Billionaire program?

Not to be flippant, but... exactly what you need to take you from millionaire to billionaire. I don't know yet, specifically. I haven't done the research.