King Sports International

Time, money and training

by Ian King

As a young single person, with minimal financial responsibility and no mortgage, finding time to train was easy. Finding time to do anything else was the challenge!

If you are in this position and training is high on your priority list you can probably relate to this. But you might not relate to the next bit.

If you are married (young or otherwise!), have kids, financial responsibility including a (one or more) mortgage, finding time to train is not as easy. Sometimes you miss training because you either don't have the time or the energy, because of the other life commitments.

If you are in this position, you will really relate to this. Whether you are training to get buffed or for gold at the next Olympics, it's all the same. I have trained athletes at the elite level with and without families and kids, and they are no different than the person who seeks a PB in the gym or on the scales. It takes the edge off your energy, recovery and time.

So how do you manage the balance between training, money and family? I don't pretend to have all the answers, but I have found a reasonable solution, allowing me to train about 20 hrs a week (and yet still frustrate the 'boss' who I suspect feels I spend too much time in the solace of my private training facility).

Even without training, the challenge to balance family and finance is still a challenge. Even some of the greatest people in modern history struggled with this challenge. I read recently where personal development author Napoleon Hill (often described as the father of this industry) regretted the balance he had struck in his life between the two:

Q. What did he regret most about his career in life?
Answer : Being human, Dr. Hill did have regrets about his career in life, but he did not let these regrets deter him from his definite major purpose. Dr. Hill regretted that the research required for the philosophy of personal achievement kept him away from his family for long periods of time. His three sons were often without a father while he was on the road gathering information, presenting lectures, and attempting to share the philosophy with the world.

When you favor work, training and or family can suffer. When you favor training, finance and family can suffer. When you favor family, finance and family can suffer.

I'm proud to say that we not only teach this life balance in our KSI Coach Education programs (CIP, CMP etc) but our advanced coaches have developed an enviable balance in these areas - a balance that means no area suffers - they don't disadvantage their family, their finances or their health/training. I am really proud of these coaches.

One of the many benefits of joining us in August 08 at our 5th Annual International KSI Convention is that you get to interact with these coaches, and there is no better way to gain education and inspiration. If this life balance is not a challenge for you because you are young and have a low cost of living, trust me - it will be an issue one day. Either through gaining family or loosing your ability to generate the income needed to sustain your training.

Sorry, we do share more than training

During our 20+ years in business we have received a lot of customer feedback. From really excited and appreciative (such as Anthony who wrote: "I continue to be amazed and pleased with the amount of personal correspondence you give to people!"; or Mike who wrote: "The information in your book is really and truly fantastic!" or Joe who wrote: I find your service impeccable!") to well, not so pleasant (like young Brian who recently said "Thank you very much for your time. Now piss off, wankers.")

Whilst we invite, value and appreciate the feedback, we choose which ones we take note off. For example young Brian's suggestions, in response to our offer of a refund, were not taken with any regard except to wonder how he got that unhappy.

Or when young Grant told us that "You teach the squat like everyone else. Squatting should be performed the way Olympic lifters and powerlifters do it. Not like sissy spa members." (Guess I competed all those years in powerlifting like a sissy spa member!) You can guess we simply wondered what medication he may be taking.

One comment we give more attention to has been the occasional concern that some 'just want training information', and are not comfortable with our content that references other areas such as finance, business and spiritual development. Interestingly it's the financial education content that probably gets the most flak. This is worth addressing - our approach is holistic, and that is not going to change.

In fact, there will be a time in the future when more and more will attempt to imitate our approach, as they have done in the past. Those, like my friend Joey Williams, who have been around for a few decades in the industry, know who is copying who (and confirm our observations that people will criticize until they learn to imitate, then they suddenly claim originality!).

I know what it like to have training compromised by the need to go to work, to go to a second (and third job), to rush and miss meals due to work requirements, to eat crap because of time constraints, to compromise on quality of food and supplements because of lack of money.

To suggest that you train in isolation of your financial situation is simply to live in denial.

Those who develop mastery of what I teach create a life where they are able to do what is important first. For example, I know some of the coaches in the KSI Coaching program who train first and leisurely, then focus on work, as is my practice (and I am not talking about early morning workouts, which in many cases are a compromise).

It gives us great pleasure to help people create a life where they can focus on training without compromise, and without compromising their financial position.

There may never have been a more critical time to develop ones financial literacy as the sub-prime issues in the US financial sector drag the US economy down, and with it inevitably the rest of the world.

Already in the US from the sub-prime fallout, over 100,000 jobs have been lost, 246 (and growing daily) finance companies have ceased operations, losses from bad mortgage debt is expected to reach between 250-500 billion, and one in 4-5 families could be forced out of their house. And we haven't hit the bottom of this challenge yet...

Coincidentally, all this in a country that has turned weight loss into an industry. Gurus sprouting the secrets to weight loss, taking advantage of the gullibility and desire for instant gratification of the people to meet their needs of being important...whilst most nations struggle for food to eat, this country focuses on ways to counter the excess of food consumed, and the over-processing of the food. More on that another day....

So, sorry - some things are not going to change and that includes our holistic approach to training. We know at least one person appreciates that as Steffen who wrote: "It is your holism that I like best about your company!"

UK credit market affected by US sub-prime challenges

The US sub-prime credit challenges have well and truly left the shores of the US and impacting on global maerkets. Here's an article of it's impact on one financial institution in the UK:

UK lending industry reeling after Northern Rock gets emergency loan
Tuesday, September 18, 2007

Eva Wiland, Lending Central

The lending industry here is reeling after UK’s fifth biggest mortgage lender Northern Rock had to go cap in hand to Bank of England, asking to be bailed out after falling victim to the foreign credit crisis.

The news sent shock waves through the European financial sector and put pressure on banking stocks in the UK and USA alike.

As the lender was forced to negotiate an emergency loan, thousands of anxious savers were lining up yesterday across the UK to withdraw their money while the value of Northern Rock shares dived by almost one-third.

Northern Rock, which is deeply rooted in the north-east of the UK, was traditional building society which became a big, aggressive lender.

Critics are questioning whether the company has been lending wisely, slamming the increasing propensity by many companies to lend far beyond normal, prudent levels, gambling on the UK housing boom.

They blame the crisis on those companies giving out mortgage loans recklessly and forewarn that from now on, there will be fewer cheaper mortgages.

With relatively few savers, Northern Rock had been relying on raising three-quarters of its funds on the money markets.

However, this came to an end as UK banks stopped lending each other money following the sub-prime crisis in the US.

The problems of Northern Rock are the manifestation of a lender of last resort culture, forcing consumers to dig themselves deeper into debt, attracted by offers of easy credit cards, easy loans, or consolidation of loans, already difficulty to repay.

The crisis prompted the British Chancellor, Alistair Darling, to call for an end to the era of “free and easy lending by the banks”.

He was forced to warn that the credit boom was blowing out beyond sensible limits, calling on lenders to return to “good old-fashioned banking”.

“They need to know who they are lending to, how much they are lending and what the risk is,” he said.

Concern has been mounting at the British Treasury and Bank of England as they enter the northern autumn when thousands of fixed home loans will expire, that borrowers may be exposed to the brunt of the country’s latest interest rates.

The US sub-prime mortgage industry and concern over UK consumers over-extending themselves are putting further pressure on the market.

It is now increasingly evident the global liquidity crisis is starting to make an impact on consumer behaviour in the UK.

John Lewis, UK’s biggest department store, warned today of a sharp slowdown on the high street, as it was preparing itself for consumers to curb their spending with the result of much weaker trading in the run-up to Christmas.

UK retail sales in the second half of 2007 are reported to be more subdued than earlier in the year and many weaker retailers could be facing difficult times ahead.

Next, one of UK’s most successful fashion retailers, warned the credit crunch and higher interest rates could affect Christmas trading and French Connection, another successful fashion retailer, have reported sliding sales.

Most of the Northern Rock savers have heard assurances from Bank of England and Northern Rock alike that the lender is solvent, but many just don’t believe them.

Neil Collins, financial commentator on the UK Evening Standard newspaper likened the credit crisis to a tropical storm which would “sweep right through the financial system within 90 days”.

Although the damage might be small to Northern Rock, he warns the crisis is likely to carry away some of the more obscure lenders, causing structural damage if dearer mortgages cause house prices to fall significantly

Side-stepping the greatest global credit squeeze since the Great Depression

The current global credit squeeze, described by some as the biggest drying up of credit since the Great Depression, that has arisen out of the US sub-prime markets continues to ravage the US credit industry.

This sub-prime credit issue has been signficant enough to bring down both Wall Street and the Australian stock exchage values as evicidenced by market movement over the last few week.

Here's an article giving a snapshot of the situation in the US credit market.

US mortgage crisis deepens at Impac, Accredited
Wednesday, September 19, 2007

The U.S. mortgage lending crisis deepened on Tuesday, as Impac Mortgage Holdings Inc said it will quit most lending and cancel its dividend, while Accredited Home Lenders Holding Co posted a big quarterly loss and said its survival remained in doubt.

The developments came a day after another struggling lender, NovaStar Financial Inc, gave up its real estate investment trust status sooner than expected because it could not pay a $157 million dividend to keep it.

Dozens of mortgage lenders have quit the industry this year, including many that have gone bankrupt, amid rising defaults, falling home prices and investor resistance to buying home loans they now consider too risky.

Impac said it has fired 144 workers and will stop making "Alt-A" home loans, its main business, citing "market disruptions and illiquidity." Such loans often go to people who cannot document income or assets.

The Irvine, California-based company also said it is quitting warehouse and commercial lending, and will keep only a small number of offices that make loans eligible for purchase by Fannie Mae and Freddie Mac. It doesn't expect to pay its 10 cents per share quarterly dividend at least through year end.

"Given the severe dislocation of the marketplace, which included unprecedented margin calls, we are left with no other alternative but to downsize our company to better operate and navigate through this difficult and unrelenting environment," said Chief Executive Joseph Tomkinson.

He called the credit debacle the worst crisis in his 25 years in the business.

Impac also said it has sold $900 million of mortgages since Aug. 1, but has found it "extremely difficult" to sell more, and is working with its own lenders to find ways to do so.

Spokeswoman Tania Jernigan did not immediately return a request for further comment.

Accredited, which makes subprime loans to people with weaker credit, posted a loss of $260.2 million, or $10.29 per share, for the quarter ended March 31, according to a delayed report filed with securities regulators. That compared with a profit of $35.8 million, or $1.61 per share, a year earlier.

San Diego-based Accredited said results suffered from a large loss from the sale of mortgage loans.

It also said it expects to need further amendments to or waivers of covenants in its credit facilities in 2007. "We cannot assure you that we will continue to operate as a going concern," it said in its quarterly report.

Earlier this month, Accredited closed much of its lending operations, eliminating 1,600 of 2,600 jobs. It had made $15.8 billion of home loans last year.

Accredited is suing to force private equity firm Lone Star Funds to complete a $15.10 per share takeover announced in June. It has rejected a subsequent $8.50 per share offer from Dallas-based Lone Star that valued it at $214 million.

In afternoon trading, Impac shares fell 23 cents, or 13 percent, to $1.53, and Accredited fell 42 cents, or 4.1 percent, to $9.86. Kansas, City, Missouri-based NovaStar fell 76 cents, or 9.2 percent, to $7.48.
--AAP.

America's real estate market in trouble

Speaking generally, the US real estate market is in a lot of trouble at the moment. This is summarized in the news article below:

Credit squeeze heightens US housing market woes
Wednesday, September 26, 2007

The ailing US property market got more bad news today as an industry report showed existing home sales fell 4.3 per cent in August and the glut of unsold properties rose further.

The National Association of Realtors (NAR) report indicated that credit market turmoil hurt sales, making it harder for buyers to get mortgages in many cases.

The NAR said existing-home sales fell to a seasonally adjusted rate of 5.50 million units in August from 5.75 million in July.

The figure is down 12.8 per cent from a year ago, and was in line with market expectations amid troubles in the housing sector after a long period of sizzling growth.

"The unusual disruptions in the mortgage market, including a significant rise in jumbo loan rates, resulted in a fairly high number of postponed or cancelled sales, with many buyers having to search for other financing when loan commitments fell through," said NAR senior economist Lawrence Yun.

"Lower sales contributed to a buildup of unsold inventory."

One bright spot in the report was the first annual price increase in 13 months, the association said.

The national median existing-home price for all housing types was $US224,500 ($A258,900) in August, up 0.2 per cent from August 2006.

But the glut of unsold homes rose 0.4 per cent at the end of August to 4.58 million, a 10.0-month supply at the current sales pace.

The NAR report noted that home sales were affected by tightened credit standards after fears of failures in the mortgage sector rocked financial markets starting in early August.

Yun said he expects similar results for home sales in September.

"Once we get through these disruptions, we'll get a better sense of where the actual market is in late fall as conditions begin to normalise," he said.

Because many mortgages are bundled into securities, they depend on investor willingness to buy these. So-called jumbo loans, over the current limit of $US417,000 ($A480,885), are not bought by the big US mortgage finance companies and are now harder to obtain.

"The housing market continues to look very weak and now it is weakening further after looking like it had hit a bit of a plateau," said Robert Brusca at FAO Economics.
--AAP.

Is your income keeping up with the rising cost of living?

The saying 'the rich get richer and the poor get poorer' has never been more true than today. And for those of you whose income is from a 'job' or from selling your time (capped to 24 hrs in a day), understand you are losing ground economically speaking.

If you have been working for ten or more years, or have a family - you would probably have realized this by now.

Check out an example of this in Australia based on a review of the last ten years:

House price rises three times the level of wages: report
Tuesday, September 25, 2007

House prices have increased at three times the rate of wages in Australian capital cities over the past decade.

A research paper by Deutsche Bank analysts EMILY BEHNCKE and SALLY CLARKE says while wages have risen 56 per cent on average house prices in our major capital cities have increased 168 per cent since June 1997.--AAP.

If you live in America...

I have been visiting the great country of the USA for 18 years now. And I have been reading the writings of the likes of Robert Kiyosaki, Donald Trump, Harry Dent Jnr for many years - all of whom have been expressing serious concerns for the economic future of America.

Most of you have enjoyed a great economy and standard of living in your lifes to date. I have grave concerns for your future and the future of the most powerful and economically strong country in the world - at least is has been to date.

I encourage you all to take stock of the warning signs in your country - and to take action to ensure that you individually and collectively ensure your future is solid. Don't jus sit there and continue to do what you have been doing. Understand you need to change the way you think and work, how you percieve and mange mioney.

In my communications to date wtih all Americans I will say this - there was never a more critical time than now to take action to solidfy your financial position.

If you share my concerns for your future, and would like to discuss your situation and options with me, email me by clicking here.

Student becomes a leader and a teacher

One of our businesses involves developing and training a global sales and marketing team, in partnership with a US  health science company, in develolping a leveraged and residual income. In essence, we teach our team members how to be entreprenuers (which if you receive my free Introduction to Paycheck to Passive email course you will understand is the one of the 2 key skills, the other being investing).

One of our team has developed his business to a level where we recognize his leadership based on his achivement. Fruther evidence (if needed) of his development as a leader can be found in the below, an email from him to a team member in another sales team.

I was impressed but not surprised. He has been a great student of entreprenuership and is reaping the benefits. Here is what he wrote:

Bottom line:

1. Life is not a popularity contest

2. What others think of you is none of your business

3. Uncompromising people shape the world

4. If your business is not growing, it's because you are not growing

5. An exposure to personal development doesn't mean it's impacting your life (the 'knowing' vs 'doing' deficit - I see this everyday in most people). You have to do it and live it, every minute of everyday

6. For things to change drastically, YOU must change drastically

7. What are you going to give up to achieve your business goals?

8. What's your consequence for not achieving what you said you would when you signed up? Have you the integrity to follow through on your consequence/s? This is a very powerful lesson in itself

9. How do you feel trading away most of your time for money?

10. Initially measure your progress via income and plot in graphically over time. You'll be able to see exactly where your mindset and action is at any point

Unsolicited I know. Take it or leave it, agree or disagree with me, I don't care. This is for you, as you took the action to be on the call and showed gratitude, you deserve to be rewarded

However, what you do this information is your choice...

Time will tell...

Mitchell Kochonda

Seeing my future holiday houses....!

We have just come home from a few days at the coast. In one of our beach stops, we spent time in a coastal resort town where I have been watching the real estate for a few decades. The price just keeps on going up! A few million dollar property is the norm!

Another place we stayed was beside a canal and just back from the beach. The canal properties are now worth millions to buy in there.

Just looking at the canal properties is enough to drive me on to raise our ability to purchase more houses - not to rent out, but to have when we have times like last week to go away and enjoy the lifestyle and natural beauty of other locations.

It was a great incentive! During my holidays I worked to past midnight every night except the last, holidaying during the day with the family, working on my computer at night whilst they slept!

Introduction to Paycheck to Passive

I have spent most of my adult working life in physical preparation. Yet I have managed to break the mould of the busted-arse 'I do it for the love of it...physical prep coaches are meant to be poor' mould. thankfully.

And I have also chosen to share this experience (just borne to educate I guess!) through my Paycheck to Passive educational range. For those who know there is more to life than sets and reps (or alternatively, for those who would like to live their lives more around their own training, like i do - train first, then into the office only when this is done, which is usually midday!), you may benefit from receiving my free 8 wk email series aimed to introduce you to my perspectives on working for a living versus having a life.

You can get started by going to this link. http://www.kingsports.net/products-pctp-introcourse.htm