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    Posted on September 5th, 2014 in The Wealthy Spirit by chellie

    Updated insider information by Chellie Campbell, author of “The Wealthy Spirit: Daily Affirmations for Financial Stress Reduction”

    248-September 5

    “In the long run men hit only what they aim at. Therefore, though they should fall immediately, they had better aim at something high.”—Henry David Thoreau

    Michelle was having difficulties marketing her services. She was making calls daily and recording them in her Ships Log, but she was not getting the results she wanted. Time after time, the people she spoke to listened politely and then said they’d call back later when they were interested. After I asked her a few questions, the problem became clear: she was making her sales pitch to the company receptionist! Now, receptionists are often very nice people and they can be most helpful in directing you to the right people to talk to. But they do not make the buying decisions for the company. Michelle needed to talk to the people at the company who were in positions of power. As soon as she started talking to company presidents, vice presidents, and managers, her sales improved dramatically.

    Michelle’s story reminded me of an old family story: My grandfather, William Livingston, was an attorney in private practice in the small town of Prentiss, Mississippi. When his son Rob graduated from law school, he went to work with his father. The two of them had a successful practice together for many years.

    One afternoon, an elderly gentleman arrived at the office and asked to see Mr. William Livingston. Knowing that his father was very busy that day, Rob asked if he could help. The man thanked him, but said no, he wished to see Mr. William Livingston, and he would wait.

    A quarter of an hour went by, and Rob again went out to the waiting room, to see if he could be of assistance. The man shook his head.

    After another half-hour, concerned about the client’s wait, Rob said, “I am William Livingston’s son, and I’m sure that I can help you with whatever you need.”

    The older man looked him over calmly. Then, with a twinkle in his eye, he said, “Son, I didn’t come to see Jesus. I came to see God!”

    He was immediately shown in to my grandfather’s office.

    Today’s Affirmation: “People are always happy to see me and help me get my goals.”

    A friend of mine wrote to tell me that Las Vegas Churches accept gambling chips:









    The Optimism Insurance Policy

    Posted on September 3rd, 2014 in The Wealthy Spirit by chellie

    Updated insider information by Chellie Campbell, author of “The Wealthy Spirit: Daily Affirmations for Financial Stress Reduction”

    246-September 3

    “How many joys are crushed under foot because people look up at the sky and disregard what is at their feet?”—Catharina Elisabetha Goethe

    Al the accountant bought a lottery ticket for himself every week. He said that it was his optimism insurance policy. Each week when he bought his ticket, he had fun thinking that he could win the lottery and become a millionaire. He smiled and spoke of how it much fun it was to think about having something wonderful like that happen. It kept him in a happy frame of mind all week. When the day of the drawing arrived, he would look at his ticket and think, “Today could be my lucky day!” If he didn’t win, he would immediately buy another ticket: “Maybe next time!” He always kept his optimism insurance policy renewed and in full force.

    Don’t mention the lottery to my friend, Dave. He’s really mad about all the money he wasted buying tickets when he’s never won anything. He thinks it’s rigged, unfair, sinful, bad, and a rip-off because he hasn’t won. He is full of resentment towards the people who have won it, the state that runs it, the government that allows it, and the other players who are losers.

    Not every dollar you spend has to be sensible and smart. Some part of your budget needs to be “mad money” or “spree money”—money you can spend for fun. If you get a return on your investment great, if not, so what? But, if you can’t have fun with it, don’t do it.

    The eleventh commandment is “Thou Shalt Lighten Up.”

    Today’s Affirmation: “Today is a very lucky day, filled with wonderful surprises and money!”

    I was honored and happy to be a “Cover Girl” last year for the wonderful New Spirit Journal run by Krysta Gibson. She’s a darling and has a wonderful publication.

    Find people, businesses, products, and services to make your life happier!


    An Interview with Chellie Campbell

    Chellie Campbell

    Chellie Campbell says we can’t curse our bills when we pay them and expect to have money come to us. “Say prayers of blessings as you pay your bills. Say a prayer of thanks that you have the money to pay for this, that you received the blessing of whatever the product or service is. If you don’t like paying the light bill, live in the dark!”

    by Krysta Gibson

    Some people love it.

    Some people hate it.

    Some people have a lot of it.

    Almost everyone wants more of it.

    It is money.

    Enter Chellie Campbell, author of The Wealthy Spirit and Zero to Zillionaire and creator of Financial Stress Reduction workshops. She is one of Marci Shimoff’s “Happy 100” in her NYT bestseller Happy for No Reason and contributed stories to Jack Canfield’s recent books You’ve Got to Read This Book! and Life Lessons from Chicken Soup for the Soul. Chellie is prominently quoted as a financial expert in The Los Angeles Times, Pink, Good Housekeeping, Lifetime, Essence, Woman’s World and more than 50 popular books.

    Although she is now considered to be an expert in financial issues and prosperity teachings, there was a time when money was not her forté.

    I asked how her background led her to become prosperous herself and a teacher for others…read the rest of the interview here and have a fabulous day!

    The Circle of Abundance

    Posted on September 2nd, 2014 in The Wealthy Spirit by chellie

    Updated insider information by Chellie Campbell, author of “The Wealthy Spirit: Daily Affirmations for Financial Stress Reduction”

    245-September 2

    “Money is like manure—it’s not worth anything unless you spread it around!”—Dolly Levi in The Matchmaker, by Thornton Wilder

    Money is a circle of abundance that is constantly flowing, creating ripples of prosperity just as a stone creates ripples when dropped in a lake. With any purchase, you can easily follow the ripples if you look.

    For example, if you buy a car, you have created prosperity for many people in an endless chain. First, the salesperson who sold you the car gets a commission, as does the dealership. The manufacturer also is enriched by the transaction. Most people are conscious of this much sometime during the transaction.

    But the ripples continue: Your purchase of the car sends money into the hands of all the people and businesses associated with the production, manufacture, shipping, assembly, and inspections of the automobile. The advertising agency who writes the ad that attracts the buyer, the newspaper that prints the ad, the salesperson who sold the ad space, the person who sells the newspaper the paper stock and the ink. The lumberyard that produced the paper, the lumberjacks who chopped the wood, the trucker who hauled the wood and the one who moved the paper. Then the insurance company that provides the insurance policy on the car and all the workers associated with that business. How far can you follow the ripples? It is endless.

    It is important for your personal prosperity to take joy in this process. As you write the check or pay the cash for your purchase, know that you are creating financial benefits for many unseen individuals who make their livings from multiples of these transactions. Smile and remember to write “Thank you!” on every check. You are giving of your abundance to other people and they will be doing the same—sending it out and around and eventually it will circle back to you.

    Then you will send it out again.

    Today’s Affirmation: “Every dollar I send out comes back to me multiplied!”

    A friend of mine said, “Vacation is the reality – work is an illusion.” Hee.

    Taking heed of my own advice to be sure to take lots of time off to enjoy life and be a “human being” instead of a “human doing” is always important to remember. I’ve started taking Sundays off from reading and answering emails. At least, that’s the plan, but I notice how addicted I am to keeping up with it all. I just read an article on how people today are overstressed by the burden of email. I love the ease of staying in touch with the many people I know and love, and certainly it’s great for business. And free! Unlike the letters with postage of old…

    But it’s like so many things in life – great in appropriate quantities, but big trouble if over-indulged in. I find myself more rested, relaxed, and happy when I take a break.

    Hope you had a glorious Labor Day, with no labor! May it be filled with joy, love, and lots of goodies!

    The Doctor’s Accounting

    Posted on September 1st, 2014 in The Wealthy Spirit by chellie

    Updated insider information by Chellie Campbell, author of “The Wealthy Spirit: Daily Affirmations for Financial Stress Reduction”

    244-September 1

    “Did you ever hear of a kid playing accountant—even if he wanted to be one?”—Jackie Mason

    The distinguished doctor I met at a party asked me what I did for a living. “I own a bookkeeping service,” I replied. He immediately started bragging how he saved $600 a month by firing his accountant and doing the bookkeeping himself. “Really?” I asked. “How long does it take you to do it?”

    “It takes me about six hours,” he replied.

    I asked, “And how many hours do you work as a doctor?”

    He replied, “Oh, I work a full office schedule—about 35 hours a week.”

    “I would imagine that you make a lot of money as a doctor,” I said.

    “Oh, yes!” he exclaimed proudly.

    “When you’re working at being a doctor, do you make as much as $300 per hour seeing patients?”

    “Certainly,” he said. “Sometimes more, depending on the patients and their needs.”

    “Then it seems to me,” I suggested, “if you spent the six hours you’re spending on accounting being a doctor instead, you would make $1,800. Then you’d pay the accountant $600 and have a profit of $1,200. So, firing your accountant didn’t really save you any money—it cost you money.”

    He was speechless for a moment, and I could see his mind working, processing this information. “But, I enjoy it,” he said finally.

    “Yes, I do, too!” I agreed. “It’s my business.”

    I found out later he rehired his accountant.

    If you can think of something more fun, productive, or profitable to do than the onerous task you hate, then do it and delegate the other. You don’t have to do tasks just because you can.

    Today’s Affirmation: “I love to delegate to others so I can do the work I love!”


    Posted on August 30th, 2014 in The Wealthy Spirit by chellie

    Updated insider information by Chellie Campbell, author of “The Wealthy Spirit: Daily Affirmations for Financial Stress Reduction”

    242-August 30

    “The art of acceptance is the art of making someone who has just done you a small favor wish that he might have done you a greater one.”—Russell Lynes

    It is a universal principle of money that whatever money you obtain dishonestly, by lying, cheating, swindling, or in any way taking money that isn’t rightfully yours, will be taken back from you tenfold. At least. The reverse is also true. Whatever money you gain by serving others with love and joy, will be given back to you tenfold. Wealth, riches, joy and abundance, pressed down, overflowing.

     It doesn’t always appear that this is so. Resentful people are often fond of pointing out rich people with ill-gotten gains that seem to have come from deceptive practices, exploitation, or out-and-out thievery. It won’t serve you to think like that. The belief that someone else has become rich through exploiting others will only keep you from attempting to make your own fortune for fear of becoming a bad person. You can’t be worried about what other people are doing about their integrity. Just worry about your own. As you start to see your positive efforts from a center of personal integrity produce financial rewards, and whatever cheating you do result in a reduction in your wealth, you will see that financial integrity is one of your most important assets.

    (Continued on page 242 of The Wealthy Spirit)

    Today’s Affirmation: “All my friends are successful and happily making large sums of money!”

    When you have integrity, sometimes you’re going to get yourself in trouble.

    Since I’m a recognized self-help author with a following, I am often approached by other speaker/author/seminar leaders who would like me to give them a testimonial or “blurb” for their book. I’m happy to help them, not only because I just feel good helping others (I am in a “helping profession” after all) but also because I so appreciated the generosity of the people who read my book and gave me a testimonial.

    But what do I do when I agree to read their book and then when I do, I don’t like it or something about it offends me or they take a philosophical position that I don’t agree with? Do I give them a testimonial anyway to keep them happy and avoid an awkward conversation? It’s tempting because my inner people-pleaser Tuna self wants to make everybody happy. But I know I can’t because my first responsibility is to tell the truth and my second is to my readers who rely on me to tell the truth.

    Several years ago, I agreed to blurb a book from a man who came highly recommended from some impeccable sources, and also said that I would help promote it. Then he sent me the book and when I read it I was horrified. He offered up several pieces of advice to get ahead by gaming the system or actually out-and-out lie to others in order to get your way. He bragged about having won a sporting competition by dehydrating himself for the weigh-in so he’d be put in a class with smaller men and could overpower them.

    Well, there was no way I could recommend that, and I told him so in no uncertain terms. He tried to wiggle around it and said his publisher and PR person said he needed to create controversy for marketing purposes. Yeah, I said, so now you’re telling me you compromised your ethics in order to sell books? No thanks.

    His book got testimonials from some big names in the self-help industry and went on to become a huge NY Times bestseller. How could that be? Am I crazy to have standards? You know, sometimes you start to doubt yourself. But I went to his book’s page on and found hundreds of people who had written scathing reviews, protesting his values just like I had. One even said she was now doubting the word of the big name who had given him a testimonial. Ahem.

    My friend and fabulous life coach Rhonda Britten says, “If you don’t have a ‘no’, your ‘yes’ means nothing.” That’s so true.

    I have a “no”. Just so you know.

    Penny Wise, Pound Foolish

    Posted on August 29th, 2014 in The Wealthy Spirit by chellie

    Updated insider information by Chellie Campbell, author of “The Wealthy Spirit: Daily Affirmations for Financial Stress Reduction”

    241-August 29

    “It was said of old Sarah, Duchess of Marlborough, that she never put dots over her ‘i’s to save ink.”—Horace Walpole

    One of my dream vacations was to go on a Mediterranean cruise. I had always had an interest in archaeology, having read about Howard Carter’s discovery of King Tut’s tomb and Henreich Schliemann’s excavation of Troy. (I even thought seriously about pursuing it as a career until I realized that these men spent a lot of years digging in the dirt without finding anything before their major discoveries. I really just wanted to show up on the day they hit pay dirt and see all the golden treasure.) But I yearned to walk through the ruins of the Roman city of Pompeii, buried by volcanic ash in 79 A.D. I wanted to tour the Vatican, climb the hill to the Acropolis in Athens, and roam the sandy beaches of the Greek Islands. I had been doing my friend Paris’ affirmation—“I now receive free first class travel and accommodations all around the world”—when I received an inheritance that completely paid for the trip.

    The trip was everything I had hoped for and more. The ship was terrific, the company delightful, I won a jackpot in a slot machine in Monte Carlo (if this surprises you, you haven’t been paying attention to all I’ve been saying in this book), our room was beautiful, the food was delicious and the sea was so flat no one got seasick.

    At each port, we were in a different country with different currency, and we had to visit the currency exchange dealers when we disembarked in order to have cash to spend that day. It made me laugh to see several of the passengers run from exchange dealer to exchange dealer, looking for the best exchange rate for their money. I’m sure they thought they were being careful with their money, but to me they were wasting the only time they had to be visiting this exotic locale in trying to pinch pennies! The trip cost $3,000—what’s another dollar or two in exchange rate savings? When we visited the palace at Monaco, the tour guide told us we needed to give a franc (about twenty-five cents) to the restroom attendant when we visited the facilities. I saw a woman who only had a dollar bill trying desperately to find someone to give her change so she didn’t have to give the whole dollar to the attendant.

    Lighten up. Share the wealth. We’re not talking big money here. You’re on vacation—the goal isn’t to come back with money saved, it’s to have a great time experiencing new places. Keep in mind the relative values at all times. Give up spending ten dollars on gas and an hour of your time driving from supermarket to supermarket to save ten cents on a box of cereal.

    Don’t blow dollars saving pennies.

    Today’s Affirmation: “I am an expert at spending money wisely.”

    I have a great online group of dolphins in my Dolphin Club. (The Dolphin Club is an exclusive club for wonderful dolphins everywhere who believe in the principles of The Wealthy Spirit and the Financial Stress Reduction® Workshops. For information, click here: )

    All dolphins have access to me through our Forums and private Facebook group. A recent question from a psychotherapist addresses a universal problem for business owners:

    “My goal when taking Chellie’s course was to ditch all insurance companies and go entirely private pay. Over the last few months I have achieved my goal — in fact, for about three months I was almost doubling my income without taking insurance clients.

    “So far so good, right? Well, over the past few weeks I had a bunch of private pay clients leave counseling for one reason or another (mostly moving out of town), and all of a sudden business had plummeted and I’m having a bit of a freak out. I don’t want to go back to taking insurance, but I’m fearful of not being able to pay my bills. I know it’s possible because it was HAPPENING — any advice about what to do? (Besides freaking out, of course!). Thanks in advance for your encouraging words :-)

    P.S. Yes, I’m still saying my affirmations every day!”

    My response is this:                                                                                                                                              

    Freaking out is a natural response to change when it appears negative. Actually, the up and down swings in business are just a manifestation of the standard deviation. Meaning that if you flip a coin 100 times it will land heads 50% of the time and tails the other 50%.

    But you can flip 20 times in a row and always land heads – it doesn’t mean anything. It isn’t because you did an affirmation before flipping, or you used a different thumb action, or Mercury is in Retrograde. It’s just the standard deviation.

    The important thing in managing the standard deviation in business is to always be sending out your ships – even in good times, when you have all the business you need. What usually happens is that when we have a full practice, we stop sending ships because we’re filled up and we don’t need them now.

    But stuff always happens, there’s a natural attrition, some clients always leave. We have to remember the old sales adage “A-B-C” “Always Be Closing. You always need to be working to fill the pipeline with new prospects. If you built your practice up with private pay once, you can do it again. Your skill hasn’t changed and the marketplace hasn’t changed either. Being in business for yourself means consistently sending out ships so that one day your ship will come in. Going back to insurance pays might be easier, but then the pay is less, eh? Just like getting a job. The lesser pay you earn represents the fee you pay to the entity that does the marketing and selling so you don’t have to. The upside is greater if you own your own business, but the price you pay is that you have to do the marketing and selling.

    Both scenarios have their upside and downside – you get to choose which downside you will tolerate in order to have the biggest upside. What’s your dream? To accomplish that goal, you will have to find a way to navigate around the downside that goes with that territory. Good luck with everything, and remember to have fun along the way!

    Save Your Singles

    Posted on August 28th, 2014 in The Wealthy Spirit by chellie

    Updated insider information by Chellie Campbell, author of “The Wealthy Spirit: Daily Affirmations for Financial Stress Reduction”

    240-August 28

    “Penny and penny, laid up will be many.”—Anonymous

    Many people have saved extra money just by saving their loose change at the end of the day. Over time, all that change mounts up and can added to savings accounts, vacation spending, holiday gifts, etc. Suzanne Miller, who creates wonderful designer jewelry, started saving dollar bills instead of change. At the end of each day, she just took all the singles out of her wallet and put them away in a cookie jar in her closet. It became a habit, and she never missed the money.

    Her business was booming. She hired people to help her and added more jewels and precious stones to her inventory. Much of her income was invested in expanding her business. The holidays were approaching and she wanted to travel to see family and take a vacation. Remembering her singles savings, she looked to see if there was enough to help with her plans.

    This is what she was able to do with the money she found in her closet:

    1. She bought a round trip ticket to Tucson from Los Angeles.

    2. She bought a round trip ticket to Seattle from Los Angeles.

    3. She put a 50% deposit on a vacation package to Jamaica.

    Just from saving singles at the end of the day!

    Today’s Affirmation: “All the money in my possession increases every day!”

    One year, my sister Jane and her husband Dick (yes, Dick and Jane hee) were looking forward to their 2-week trip to the East Coast, planning sight-seeing, athletic contests, theatre, and a long drive up the coast from New York to Maine. They left Los Angeles on Thursday, landing in New York in the evening.

    Just in time for Hurricane Irene.

    Jane texted the family, alerting us to the news that everything in New York was closed: “Hi, guys! Subways, museums, shops, theaters all to be closed for the weekend! No athletic events either. We are safe in Manhattan. Bought deck of cards and jigsaw puzzle. Hotel has cafes and bars. We’ll keep you posted!”

    I wrote her back that at least she was having a new experience – living all her life in California, she had never been through a hurricane.

    Her daughter Marissa later posted this picture she received from them:

    “Keeping calm before the storm!”

    I wonder if this drink is a “Manhattan” or a “Hurricane”?

    Retirement Planning

    Posted on August 27th, 2014 in The Wealthy Spirit by chellie

    Updated insider information by Chellie Campbell, author of “The Wealthy Spirit: Daily Affirmations for Financial Stress Reduction”

    239-August 27

    “It isn’t necessary to be rich and famous to be happy. It’s only necessary to be rich.”—Alan Alda

    She was fifty-five years old and worked on an assembly line for a major corporation. It was time to retire, she told Dianne, the certified financial planner. Other people she knew didn’t have much money and were retiring, and she felt she should, too.

    “How much money do you have in your 401K plan?” the financial planner asked.

    “Around $20,000,” she replied.

    “And do you have additional savings?”


    “Investments in real estate?”


    “Alimony? Expectation of inheritance? Other sources of income?”


    The financial planner shook her head sadly, and explained that $20,000 wasn’t going to be enough money to allow her to retire.

    When Dianne told me this story, she told me how frustrated she felt when people didn’t understand, until too late, just how important it was to have a financial plan for the future. Even if you save money on a regular basis, that doesn’t mean that you’ll have enough to live in a castle on a hilltop in Europe when you decide to retire. Another client, who had a million dollars saved for retirement, thought he was going to be able to spend $20,000 a month. Spending $240,000 per year would eat up a million dollars rather quickly.

    You have to have a budget worked out for tomorrow just like you have to have a budget worked out for today. Money doesn’t magically appear just because you turned fifty-five or sixty-five. Furthermore, you can’t assume that just because you save money on a regular basis that you are saving enough to allow you to live without working. You have to do the math.

    How much money can you reasonably expect to save each year? How much money will your investments likely produce in interest income? How many years do you have in which to accumulate savings until your projected retirement date? What kind of lifestyle do you want to maintain when you are retired? Will you work part-time? Will you need less money than you do now because you won’t have work related-expenses such as the cost of commuting, networking, business attired, etc.? What amount of social security will you receive in addition to your personal savings?

    You probably need help with these questions. Make an appointment with a financial planner. Get some help figuring out your retirement needs. Get a plan together, then take the actions that are on the plan every month. Over time, you will accumulate assets, money, retirement funds.

    Or be willing to keep on working.

    Today’s Affirmation: “I accumulate wealth daily for my abundant future!”

    A great friend and fellow WRS ( member, Financial Planner Marc Weiss sent me this very informative article about Social Security. As my senior years approach, I have to decide when to start collecting my benefits. My CPA, Barbara Barschak, advises to start collecting money as soon as you are eligible for some…but we all want to collect as much as we can, eh? Start earlier and collect a lesser amount over a longer period of time, or wait and collect a larger amount over a possibly shorter period of time – that is the question.

    I did the math. It really all depends on how long you expect to live…gulp. If I live to 80, I collect the most if I start collecting at 66. If I live to 90, I collect the most if I start at 70. My dad lived to 93, but mom passed away at 67 – the average of their two ages is 80.

    This is just like playing poker – making value-based decisions based on incomplete information. In other words, it’s a gamble!

    WHAT YOU NEED TO KNOW ABOUT MAXIMIZING YOUR RETIREMENT INCOME By Marc H. Weiss Archer Weiss Insurance & Financial Services, Inc. Baby Boomers in particular want to know whether Social Security will be there for them and how much they can expect to receive. Most Baby Boomers do not know when they should apply for their Social Security benefits and how to maximize that benefit. Most importantly, many Baby Boomers are concerned that their Social Security benefit will not be enough for them to live on during their retirement.

    Before strategies can be discussed, it is crucial to understand the value of Social Security and what it can mean for you. Social Security basically offers a stream of income that you cannot outlive and it offers annual inflation adjustments, familiarly known as COLAs. For example, if your monthly Social Security income today is $2,000 and the annual COLAs are 2.8%, in 20 years your monthly Social Security benefit will be $3,474.

    Besides the monthly benefit you may be entitled to based on your own work records, Social Security also offers survivor benefits. To illustrate, if a married woman receiving a monthly benefit of $2,000 dies, her surviving husband, who only had a monthly benefit of $1,200, can now step up and begin receiving his deceased wife’s $2,000 monthly benefit rather than his own.  WILL BENEFITS BE AVAILABLE WHEN I NEED THEM? A growing concern in the forefront of most Baby Boomers’ minds is whether or not Social Security will be there for them to collect when they need it. With so many Americans approaching or beginning their retirement years, the concern is based on the fact that not enough money is being paid into the Social Security trust fund. In response to this concern, reform proposals are currently being studied to arrive at a solution to this potential disaster.

    To restore solvency to the Social Security system, there is talk about increasing the “normal” retirement age, which is currently 66, and lowering the Social Security benefit for future retirees. Reducing the COLAs is also something to consider as well as increasing the maximum earnings that are subject to Social Security taxation, currently $106,800. That said, Baby Boomers are not likely to be impacted by Social Security reforms as they would not likely be applied retroactively.

    HOW MUCH WILL I GET? The amount of Social Security each Baby Boomer is entitled to depends upon their individual earnings over their respective working careers. Your monthly benefit will also be affected by the age at which you choose to apply for your benefits. Social Security is calculated by looking at your highest 35 years of earnings. Any “missing” years count as zeros. Your earnings are then indexed for inflation and averaged, referred to as AIME. A formula is applied to your AIME to calculate your individual primary insurance amount (your PIA). The PIA is the amount that you will receive at your full retirement age, which is 66 for Baby Boomers. Your monthly benefit is then increased each year based on COLAs. Of course, if you apply for your Social Security benefits early, your monthly benefit will be lower. If you chose to apply for your Social Security benefits after your full retirement age, then you will earn delayed credits. For example, if you choose to apply at age 66 and your PIA is $2,230, your will receive 100% of that PIA benefit. If you wait to apply until your turn 70 (assuming the same $2,230 PIA) you will receive 132% of your PIA benefit without factoring in any COLAs.

    SPOUSAL BENEFITS There are rules regarding Social Security spousal benefits that some Baby Boomers may not be aware of. A spouse will receive the higher of his or her own benefit or their spousal benefit. The spousal benefit is ½ of the higher earning spouse’s benefit. To claim the spousal benefit, however, the higher earning spouse must have applied for his or her benefits and the lower earning spouse must be at least 62 years old for a reduced benefit or 66 to receive a full benefit. There are no delayed credits on spousal benefits after age 66. To illustrate, if Harry’s benefit is $2,000 and Callista’s benefit is $800, Callista’s spousal benefit is $1,000 so she can receive her spousal benefit rather than her own because it is higher than her individual benefit.

    WHEN IS THE BEST TIME FOR ME TO APPLY? There is no catchall “best” age for Baby Boomers to apply for Social Security benefits because this will vary based on individual circumstances. Some factors to consider are your individual health status, your life expectancy based on that health status, your need for income during your retirement, whether or not you intend to work during your retirement years and whether or not there are or you anticipate any survivor needs. The most obvious perk of delaying your benefit is that you will have an opportunity to collect more money. If you apply early, your benefit not only starts lower but it will stay lower for the rest of your life, it does not increase when you turn 66. Remember, COLAs will increase your benefit and the longer you expect to live, the more beneficial it is for you to delay your Social Security benefits. Also keep in mind that your decision will impact survivor benefits so it is an important consideration in planning your strategy as a delay will increase survivor benefits as well.

    WILL MY SOCIAL SECURITY BENEFIT BE ENOUGH FOR ME TO LIVE ON? The real challenge is in determining whether or not your anticipated Social Security income stream will be enough for you. If you are still able to work, you can maximize your benefits by improving your earnings record. If you are unsure what to expect, take a look at your last Social Security statement and see what your estimated benefit is, whether it is accurate, if there any years missing and whether you will be able to improve that benefit by working longer and delaying retirement. If you are married, be sure to coordinate spousal benefits so that both you and your spouse can maximize your collective benefits. There is also a “file and suspend” strategy that you and your spouse may elect to implement. At full retirement age, a higher earning spouse can apply for Social Security benefits and later ask that the claim be suspended. The lower earning spouse in the meantime applies for a spousal benefit. The higher earning spouse then re-claims the benefit at age 70. This creates an opportunity for a lower earning spouse to receive higher benefits while the higher earning spouse continues to earn delayed credits, thereby increasing the higher earning spouse’s benefit after it is “switched” back on at age 70.

    The precise application language for this strategy is to say that the higher earning spouse is “restricting” his or her application to his or her spousal benefit. Also, only one spouse may do this, both spouses are not permitted to use a spousal benefit on each other. Beware that you cannot implement a file and suspend strategy before full retirement age!

    MINIMIZE THE TAXATION OF YOUR BENEFIT Social Security benefits are not tax free. There are ways to minimize taxation of your benefits such as reducing other income with tax advantaged investments. It is important to emphasize that municipal bonds will not result in minimizing taxes on Social Security benefits, other tax advantaged investments must be used to help reduce other income. If you have an IRA, you need to take into consideration your RMDs and how they may increase your tax bracket.

    KEY POINTS TO KEEP IN MIND When you are deciding when you should begin your Social Security benefit based on your personal circumstance, there are some important things to keep in mind. When you are developing your overall retirement income plan, you should consider your life expectancy/health, projected income needs, whether or not you plan to work and survivor needs.

    If you apply for your Social Security benefit early, your benefit will not only start lower but it will stay lower for the rest of your life. Contrary to a myth circulating out there, your Social Security benefit does not go up when you reach age 66. COLAs will magnify the impact of your early or delayed retirement and the longer you expect to live, the more beneficial it is to delay your benefits. If married, you need to coordinate your spousal benefits to maximize your benefits.

    Your decision to start your Social Security benefit impacts survivor benefits as well and delaying your own benefits may give survivors more income. If you do not think your Social Security benefits will be enough to live on, consider other strategies that you may need to explore to supplement your projected benefit.

    A spousal planning analysis can help you and your spouse determine which of the various Social Security strategies may work best for you in your particular circumstance. Your overall retirement income plan should take into consideration Social Security in the context of pensions, IRAs and 401(k)s, your investment portfolio and work related issues to maximize your retirement income. Let us help you protect your nest egg and maximize your retirement income!

    The Lessons of The Richest Man in Babylon

    Posted on August 26th, 2014 in The Wealthy Spirit by chellie

    Updated insider information by Chellie Campbell, author of “The Wealthy Spirit: Daily Affirmations for Financial Stress Reduction”

    238-August 26

    “Albert Einstein, when asked what he considered the most powerful force in the Universe, answered: ‘Compound interest!’”—Mignon McLaughlin

    George Clason wrote a wonderful little book entitled The Richest Man in Babylon. It is the story of a group of trades people in ancient times in the city of Babylon. The butcher, the blacksmith, the shopkeeper, and others are talking together about money. They marvel how one of them became the richest man in town, when he started out as just the potter down the street from them. How did he do it? they wonder. They are all still struggling day to day to get by. They decide that they will all go together to ask him to share with them the secret of becoming wealthy.

    The richest man smiles when he hears their request. “A part of all you earn is yours to keep,” he says. That is the magic formula he imparts to his old friends. Out of every portion you are paid, reserve 10 percent for yourself. This money you never spend, but invest and get the money working for you. The money will multiply itself through wise investing, and work for you even when you are not working. His formula for budgeting was also simple: Save 10 percent for investments, use 20 percent to pay off debts, and the other 70 percent is for living expenses. Once all debts are paid in full, you have 90 percent for living expenses.

    These simple lessons still work well today. Save 10 percent of your income in retirement accounts—see a financial planner or investment advisor to set up a plan of action for you now. Make a list of all your debts and devote yourself to a “PDQ” program—20 percent of your income until all debts are paid in full. The rest is yours to play with, to create your home and lifestyle.

    Who knows? You could be the next Millionaire Next Door or Millionairess Across the Street.

    Today’s Affirmation: “I work smart, I work easy, and I work rich.”

    There’s so much to know these days – in order to market your business on the internet, you have to have more than a website and a newsletter. You have to know Social Media – how to use Facebook, Twitter, LinkedIn, Google+, and every other group ad infinitum. When you master teleclasses, then they want you to learn and invest in webinars, then video marketing, then video conferencing. It all takes some much time, money, and brain space!

    So I posted this on Facebook:

    “Just had a friend explain to me how to create a Facebook URL, only to discover that I already did that. There’s so much to know and remember these days that I forget to remember what I know. Sigh. Anyone else have that problem??”

    I must have hit a nerve, because dozens of people chimed in to share. Here’s a sampling:

    “Me, I’m always thinking of the hereafter. I’ll be in the office and I’ll go to the kitchen and think…….what am I here after?”

    “OMG – I can relate…you have no idea! ;) And to take the time to re-read what I now know so I can better remember it…sigh. Good thing life is full of wonderful surprises so we can keep cramming more stuff into our “remember this” buffet.”

    “I think I have that problem, but I can’t remember…”

    “You have no idea how good your post made me feel. I go crazy everyday with this social media networking.”

    Sometimes it just feels so good to have company in your whining and know you’re not alone!

    Making Money While You Sleep

    Posted on August 25th, 2014 in The Wealthy Spirit by chellie

    Updated insider information by Chellie Campbell, author of “The Wealthy Spirit: Daily Affirmations for Financial Stress Reduction”

    237-August 25

    “Each of us has the choice—we must make money work for us, or we must work for money.”—Conrad Leslie

    A doctor and his wife who had heard me speak flew me to Oklahoma to speak to their staff on customer service. It was a nice group of about fifteen people, and we had a great meeting over dinner as I coached them on Office Etiquette.

    After dinner, Dr. John, his wife, Mary, and I sat quietly discussing money and business. He told me that one night, he was lying awake in bed and thought, “I make a lot of money working as a cosmetic surgeon, but if I don’t show up for work, I don’t make anything. My money is totally dependent on my working hours.” He turned to me and said, “But I want to make money while I’m sleeping! I want to make money whether I show up for work or not.”

    So he bought an oil well. And that oil well is pumping oil twenty-four hours a day, making him money, whether or not he works. This is called “passive income.”

    How can you make money while you’re sleeping? Can you invent a product that stores can sell and people can buy whether or not you’re there? Can you receive a commission on sales that other people make? Years ago, I appeared in a Dove soap television commercial. Although I only worked one day filming the commercial, it was shown on television across the country for two years—and I made money every time it aired. A woman I knew made up a creative company name, registered it as a trademark, and another company paid her an annual licensing fee to use it. When you invest in a growing company that prospers and pays you dividends—that’s making money while you sleep.

    If you set up enough passive income, your only job will be managing it. And you can phone that in from Tahiti!

    Today’s Affirmation: “Every day when I wake up in the morning, I’m richer than I was when I went to sleep!”

    With all the rumblings of the economy today, it’s critically important that all Dolphins who believe in the power of positive thinking stay focused on prosperity and happiness now more than ever.

    One of the daily messages that helps remind me of all the good in the world is from Mike Dooley at Here’s one of the recent messages that put a smile on my face:

    Quickie Happiness Workshop for Increasing Profits at Times of Seeming Peril:

    Think as much, if not more, about growing your income as you do of trimming your expenses.

    And for extra credit, Chellie, focus on customers more than vendors; smiles more than frowns; possibilities more than risks; options more than commitments; vacations more than overtime; detours more than setbacks; opportunities more than obstacles; and Goldilocks more than the bears.

    End of Workshop -
    The Universe