5 Habits that Set the Wealthy Apart

I won the lottery!

Well, not exactly "that lottery", but it's safe to say that I've been extremely lucky during my lifetime - so it's kind of the same and I want to help you “win” too.

What to I mean?

I grew up with hard working, financially aware parents who talked to me about money and investing. 

One of my 2 best friends in the world, Garrett Gunderson, has become a NY Times Best Selling Author and one of the most sought after financial speakers in the country. 

I discovered a business mentor, Ron Legrand, at age 28. He transformed my life and showed me things that I could have never imagined possible.

The list goes on...

Why am I telling you this?

Because odds are good that you didn't grow up as "lucky" as I did, and I want to share what I've learned so you can win your own "lottery".

To be clear, I'm definitely not bragging. Even with the “luck”, it hasn't been all roses and cupcakes for me. 

At one point I lost over $2.5 Million during the 2008 meltdown. It sucked. But it may have been the greatest - and most Soul crushingly painful - learning experience of my life.

But overall I have been incredibly fortunate to witness what TRUE financial success looks like over the past 20+ years in my life. Beyond that I’ve worked deeply with 1000+ successful business owners over the last 10 years.

I’ve seen what works. I’ve seen what “appears” to work but doesn’t.

Sometimes its gut wrenchingly sad, but it’s always insightful.

From people earning $40k a month but couldn't sleep at night over a late rent check of $400. To people with a high 6 figure MONTHLY cash flow and never spent more than a few hours a week on their business.  

Each person is different, but the similarities become obvious when you get to look deeply inside the financial lives of so many business owners.

Today I'm going to share few things I've seen set the wealthy, abundant and happy apart from everyone else. 

Here are 5 things that I've found apply to nearly all highly successful business owners have in common:

1) They know that systems are consistent and “will power” isn’t.

Successful people have systems for accomplishing the important objectives in their life. Whether its an intentional morning routine, date nights with their spouse, or a time management system for their business - they build systems to support what they want to accomplish.

In regards to finance, the single most important factor I've seen in wealth building is systematic savings.  If you have a system for saving money it opens up access to every other aspect of financial abundance. If you don't, you'll never get out of the starting gates.
 
A system allows you to build up money for investing, growing your business, and maintaining an abundant mindset.  

If you get only one thing from reading this article, let it be that you NEED a system for saving money if you ever want to build serious wealth.  You may be able to find an occasional exception to this rule, but I prefer to build success on what works consistently rather than based on unicorns!

NOTE: I teach several systems for saving and growing money outside of Wall Street. If you don’t have a good system for this, connect with us here and I’ll show you how. (Especially our system for building your own bank)

2) They know that specialized knowledge builds wealth.

If you know how to do things that most people need but don't know how to accomplish, you will get paid handsomely for your knowledge.

This applies to everything from dentistry to real estate investing and everything in between.  If you want to become successful at something, seek the deep, specialized knowledge that others cannot (or will not) acquire.  It will allow you to either have an advantage over your competitors or provide services that are in scarce supply.

Take the time to invest in your education, mentors, and spending time with people who can help you acquire the skills and knowledge necessary to become elite in your chosen field.  This kind of investment ALWAYS pays off, so do it early and often.

3) The truly wealthy have discovered that taking action is more important than “looking good”.

The most accomplished people I've ever encountered were obsessed with taking action.  It's true that they often made mistakes, but they also learned quickly and took more action based on those lessons. 

Don't be afraid to make a mistake.  Fear paralyzes most people into inaction and robs them of their ability to capitalize on the opportunities available to them. I recently heard that “Self doubt kills far more dreams than failure ever will”.

DO NOT MISINTERPRET THIS POINT: This doesn't mean taking reckless action. I know the media glamorizes being a renegade or gun-slinger, but unnecessary risk is a HUGE mistake. In fact, most of the uber wealthy (aka Warren Buffet and friends) encourage ONLY doing things that have an extremely high probability of success.

That means gathering information quickly, determining if a particular action is the right choice, and either taking action immediately or moving onto something else.  

It DOES NOT mean saying "yes" to everything. It means being decisive and committing to a course of action if it fits.

Some of my 7 figure earning clients would literally finish our session and have everything we discussed “in play” within 2 hours of our conversation. These are the big names that are on the covers of magazines or run huge organizations.  They didn’t get there by accident.

4) They know that if you don't pay attention, you WILL pay the price.

I loved Robert Kiyosaki's book: Rich Dad, Poor Dad but it led a lot of people to believe that your investment income can be completely "passive". Don't fall for that myth.

Sure, you can have income that is MOSTLY passive, but you still need to have a system for monitoring your assets.  Just like everything in life, if you don't pay attention to your money, it will slowly atrophy. 

I see many business owners that are primarily focused on creating profits, but don't pay attention to their money once it is in their account or investment. Too often these people fall victim to embezzlement, overpaying taxes, unscrupulous property managers, and massive cash flow inefficiency.

Truly wealthy people track their money and pay attention to what is happening with their cash flow investments.  They know that if you aren't paying attention to your assets, you'll never identify opportunities or catch potential problems before they multiply.

The good news is you don't need to obsess over your money, but you DO need to know what is happening with it.  I would suggest taking at least 30 minutes a week to specifically check in on your money, investment, expenditures, etc.  If you have a spouse, include them in this process so you can make decisions together, discuss anything important, and stay on the same page.

In the end, every dollar "kept" is worth the same as a dollar newly earned.

5) They feed their mind, but they also take time to think for themselves.

The last consistency I'll share is that wealthy entrepreneurs have found an important balance between staying informed and inspired, but also give themselves time to think, imagine, and brainstorm.

In fact, the two create synergy.

Time to think about the information you've absorbed and then develop your own opinions and thoughts about it.  Asking yourself how you can apply the information, whether you agree with it, and whether it makes you feel more abundant or more scarce are all great starting points.

I've seen that highly successful people don't always agree with the status quo because they've taken time to do a little critical thinking. In most cases, following conventional wisdom is NOT the road to elite performance. Instead, learn to draw your own conclusions and trust yourself.  You'll be amazed how this process will clarify your thinking and help avoid overwhelm.

Oh, and when you discover a great idea, see #3 on this list!

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If you're ready to begin thinking and acting like other top performers, my team and I can help.  We're committed to helping you develop the systems and habits that can take you to the next level financially, so let's connect.  

Click here to schedule a complimentary consultation, and let's see what we can create together! 

Where to Invest First

What I am about to say is controversial. So called financial pundits don’t want you to know this. It eliminates your reliance on them. They become obsolete…

So here’s the unspoken, but important truth…

Nothing is more vital than investing in yourself. You are the key to everything in you life. Without you, no doors open. No opportunities are unlocked.

If you are worthless, hopeless, and helpless then your results will be the same. Your finances. Your relationships. Your health. Without these, what is life?

Worse yet, you’ll know that you suck. That can be crippling and keep you playing small. You can’t let it.

You are the only one who can choose. Nobody else chooses this verdict or can take action for you. So what do you do?

Becoming strong is the answer. Not so you can bulldoze or take advantage of others. The complete opposite. Strength to become so valuable that others don't want to live without you and what you've created.

You know you’ve accomplished this when it’s as if you've become a great lover in their life. Without you their existence doesn't taste nearly as delicious. You are creating the music they dance to.

At that point they will do whatever it takes to keep you around. You have become the soil where they want to lay their seeds and grow their life. This is the goal.

It may start slow, but it doesn’t have to. Quantum leaps exist. Bu you’ll need to suspend your current beliefs to see them. You need to paint from a blank canvas, not the one with your current picture of life. It sounds scary but that’s why its a leap.

As you get better, so does your life. It's a simple equation and you are the key variable. The multiplier that expands everything in your path.

In business this means becoming indispensable. The key asset.

Strive to become "the wheel" rather than a "cog" in the wheel. Someone whose value is so powerful that you are not dependent on outside circumstances for your success.

This is non-negotiable if you want freedom.

Your primary business or income will dictate the lion's share of your financial standing. This is your foundation. The bedrock upon which you’ll build your kingdom. You must master your craft so that you can access resources.

Without proper resources it is difficult to become your Best Self. Your financial success will go a long way in paving a smoother road for your relationships and health. Money isn't the answer, but it is far better than poverty if you want true success. If your goal is to be a contribution to the world.

When you invest in yourself the possible returns are unlimited. Literally.

Where else can you invest $5,000 and make six figures? I did it. You can too. I spent $60,000 learning to invest in real estate, and it has made me several million dollars.

I've spent six figures in seminars, trainings, and self improvement & business courses. They've returned tripled digit returns. Even better, they continue to earn for me each day. More business income. Better relationships. Healthier & happier lifestyle. More intimacy with my creator.

So this is your warning. Success isn't somewhere "out there", it is "in here". Invest in your human capacity, your skills, and your business. You are the craftsman who will sculpt the picture of your life, so focus on being the best craftsman possible.

Once you are performing at a high level and the money is flowing, then we can talk about the framework to take you to even higher. Optimize cash flow. Build assets. Save taxes.

As you become more successful, you'll need better systems for saving, growing and protecting your assets. We'll help you take care of that.

If you're ready now, let us know...

Until then, drop the distractions. Focus on the the most important thing: developing yourself and your business. Live the life you were meant to live. Pursue excellence in all you do. The world will reward you with a rich life... and not just financially. You'll experience more love, appreciation, and gratitude.

Best of all, you’ll sleep better knowing the world is better because you existed.

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NOTE: Photo by Diego PH on Unsplash

Don't Leave Your Financial Future to Chance...

"Do you want to build your financial future around something that you KNOW is completely unstable?" I asked asked the crowd.

Heads nodded. Eyes glazed over. A few people even stared at me like they were dumb struck.

This was the punctuating line from another speaking engagement where I worked to help otherwise smart, hard working business owners to see where they've been not-so-smart about building wealth.

I'm Constantly Amazed that So Many Intelligent People Turn Their Brains Off When it Comes to Money and Finances.

But let me start from the beginning...

Lately I've heard a lot of whispers... at coffee shops, while dining in the latest restaurant hot spot, and even on the mainstream radio.

What I'm I talking about?  I mean the kind whispers indicating people know something is coming with the economy, but they aren't quite sure what... AND that they are afraid.

The meltdown of 2008 is still too fresh in many minds and all of the signs point to a repeat performance sometime soon.  Of course it will be different this time, but we all know SOMETHING is going to happen.

If you don't have money in the stock market, then maybe you aren't so worried. But if you do, then you're right in being concerned because we all saw what happened 10 years ago. It set most people back more than a decade and devastated their financial plans.

But all that struggle could have been avoided in 2008, and whatever is coming can be avoided too. It just takes the willingness to think differently about your money and building wealth.

If you're like me, then you already know that Wall Street doesn't care about you. Not even a little.  

Wall Street Only Cares About Wall Street. 

You know what I'm saying is true, even if you don't want to say it out loud. So ask yourself why would you trust them with your life savings when they've already proven that they are willing to make a profit, even if it hurts YOU?

It doesn't make sense, does it?

I know everyone else is doing it and the people on CNBC and Fox News tell you it's a good idea, but you also know that those TV networks are OWNED by Wall Street and big banks. So of course they are going to tell you to give them your money. It may create stability and income for THEM, but it doesn't do that for YOU.

So ask yourself, if you could be SURE of the returns you'd earn on your money, would you prefer that to guessing?  And if you knew exactly how much money you'd have at retirement (or for the next stage of life), would that be better than hoping and praying that you can beat Wall Street at its own game and time the market right? 

If You Answered that You'd Prefer a Predictable, Certain Future for Your Money - Then Keep on Reading...

Here's reality: It's nearly impossible to create a financial plan or retirement strategy when the bulk of your money is riding the roller coaster of the market. There is simply NO WAY to plan for the future when you can't predict what might happen in the markets. 

However, what IS predictable is that the markets will go up and down, and that most "non Wall Street" people will lose while the big banks and financial institutions will win. It's been that way for the past 40+ years, and its only getting worse.

So now we get back to where this post began and I'll ask you the same thing...

"Do you want to try to build your financial future around something that you KNOW is completely unstable?"

If not, congratulations! You may have just changed the financial trajectory of your life...

The Good News...

There are ways to make consistent, predictable, safe returns outside of the "Wall Street Casino", and it's probably not what you think.  These ideas don't require to you out smart big business, "beat the system", or utilize some loop hole that might soon be closed.  

I'm talking about tried and true strategies that have worked for 100's of years and are heavily used by the wealthiest families and corporations in the world.  

The best news is that you don't need to have millions of dollars to implement these ideas.

In Fact You Can Start Building Wealth with As Little as a Few Hundred Dollars a Month.

(Although we have clients using $100k+ each year)

Rather than explaining exactly what I'm talking about (because there's a slightly different variation for each person) I'd like to invite you to learn more by downloading our free book or scheduling a free learning session with our team. There's no obligation and we're happy to answer any of your questions when we talk, so you've got nothing to lose. 

Needless to say, if you are tired of the ups and downs of markets and Wall Street creating chaos in your finances and keeping you from the peace of mind that comes from KNOWING you're on the right track - then I want you to know... 

There ARE Other Alternatives.

If you'd like to do the research yourself, be my guest. (It only took us about 20 years of research to figure this stuff out) Or you can take the "short cut" and learn from a team that has finally figured out how to create predictable returns you can count on for the long haul. Simply schedule a complimentary strategy session or download our free book to see what I'm talking about...

It's Time to Take Charge and Stop Leaving Your Financial Future to Chance.

The choice is yours and the sooner you see how this works, the sooner you'll understand how different your financial life can be!
 

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Get Off the Financial Treadmill and Start Building Wealth

I work with a lot of successful business owners. Dentists, Real Estate Investors, Optometrists, Chiropractors and more... 

Most of them make strong six figure incomes, but far too many of them don't have nearly enough to show for it. They bring in a great income, but somehow it all evaporates before they can figure out what's happening.

I call this situation the "financial treadmill".

Money comes in the front door and then goes right out the back door, and just like that monster at the gym, it will suck the life out of you while taking you nowhere. It leaves you tired and wondering how you're ever going to get anywhere...

So why do these smart people with good incomes struggle to building wealth?

Because they haven't made the critical "pivot" yet...

What "pivot" you ask?

It's the pivot point when you begin to turn your "income" into "assets", and it's a LOT easier than you probably think.

Your "income" is money produced by your "daily grind". It's why you get up and go into the office - even if it's at home - and what makes you feel guilty when you are supposed to be enjoying your family vacation.

Your income requires YOU to be working, otherwise the money doesn't come in very fast (or at all). 

Don't get me wrong, income is important. But if you never make the pivot to building assets, you'll always have to work for money instead of IT working for YOU.

On the contrary, "Assets" (as I'm referring to them) are tools that get money working for you - even when you aren't around.  They can generate income 24 hours a day, 365 days a year.

Even better, they don't tire you out in the same way as the "treadmill".

At worst assets will build up over time and give you a comfortable baseline of earnings for enjoyment or retirement. However, if utilized correctly, the shift from earning income to building assets will create the freedom and certainty that many clients are missing before I help them make the pivot.

If you've ever wondered what it would be like to have money working for you (even when the markets aren't cooperating), then it might be time for us to have a conversation.  For most of my clients, making this pivot literally changes the trajectory of their life. 

It will shift you away from a future of endlessly slaving away in your business, and toward creating a future that allows you to enjoy the fruits of your labor.

What could be better than spending time with the people you love and on projects that matter to you!?

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If you'd like to know more, simply click here to set up a complimentary call with me (or my team) or download our book here...

Why Keeping Financial Strategy Simple Works

It's been said that the simplest solution is often the best.  I've found that to be true in many aspects of life, and after a lot of research, I believe it applies to money and finances most of all.

Not surprisingly, most of the TV ads and salesmen you encounter are pushing a different agenda. They want you to believe that you aren't smart (or knowledgeable) enough to handle your own money... and then they let you know that they are happy to manage your money for you. (Because they are so smart)

Now it’s true that the stock market and many other investments can be complex, so a good adviser could help, but that doesn't necessarily make those investments the right choice for you.  In fact, it seems to me that if you don't fully understand an investment, then it definitely ISN'T the right place for your money.

If we go back to that idea that the simplest solution is best - it seems self evident that you should put your money in places where you have an understanding and control over how they work.

Make sense?

Ask yourself, are you saving and investing money in places that YOU understand or not?  Are you putting your money in places that you have some (or a lot) of control in how to investments perform?  

If you don't have much understanding or control over your money currently, I'd invite you to rethink your investing philosophy. Because putting your money into things you don’t control or understand sounds more like "gambling" than investing to me…

At this point I always get some wise guy from the back of the room saying, "What if I don't know about ANY kind of investment?"

That's a valid point - especially coming from the trouble maker in the back...

So here's the answer: If you don't know where to invest, figure out an area/topic/field you'd like to invest in eventually, and then spend time and money to invest in your education.  In other words, take some training, classes, or get a mentor so that you can successfully (aka with control & understanding) invest in that area in the future.

For example, if you want to invest in real estate, your first step should NOT be buying an investment property.  It’s true that you might get lucky, but you could also lose everything, and that sucks!

When I first started, I spent about $60,000 learning how to effectively invest in real estate, but it made me several million dollars back (so far). I’d call that a darn good ROI on my education!

So, rather than immediately purchasing a property, I believe you should get the training to understand what you are doing and why a particular property would be a good investment for YOU and your family.

In general, if you're not sure why something is a good idea, then the chances are good that it isn't... especially in investing.

I know that sounds like the old-fashioned, slow way to wealth and you might want to be a gun-slinging, go-for-broke investor – but trust me when I say that a little time and money spent in education is worth a LOT of time and money lost in a bad investment. (I’ve seen bad investments cost people YEARS and hundreds of thousands)

It's easy to forget that building wealth is a marathon, not a sprint.

You might find yourself in such a rush to do SOMETHING that you don't take time to do the BEST THING for your success. DON’T BE THAT PERSON – it doesn’t work. 

As Robert Kiyosaki said, "Risk is the investor, not the investment"

So invest in your education until you understand the investment so well that it is no longer risky for YOU. At that point, you're stacking the cards in your favor and your odds of winning increase dramatically!

Decades of experience has shown me that investing in your own knowledge is NEVER a bad choice, so don't be afraid to slow down (just a little) and take enough time to get educated.

Nearly every major mistake I've seen people make in investing came because they were in a big rush to make a decision.  Either they had money burning a hole in their pocket, or someone else pressured them into a "ground floor opportunity" and they got burned.  Don't be that guy.

ACTION ITEM:

Look at your existing investments and savings vehicles and ask yourself to answer the following questions on a scale of 1-10:

1) How well do I understand my investments?

2) How much control do I have over the outcomes of my investments?

3) If something was to go wrong, how clear am I on how I would get out of the investment?

4) Do I understand any fees associated with my investment?

5) If I didn't have money invested in this product/company/service, how much would I care about it?

If you don't like your answers, it might be time to think about making some changes... and if you DO like your answers, great job!

I've found that if you stick with stuff that seems "simple" to you, you're probably investing in areas that you know, understand, and control.  But it's when you try to get "sophisticated" that you end up with your money parked in a bad neighborhood.  So let's keep it simple and avoid all the trouble!

My main focus is helping people build wealth through using financial strategies and tools that play to your strengths.  If we can do that, you'll stack the cards in your favor and can consistently keep risk low, while returns are high!  That’s MY kind of investing!

Want help with your financial strategy?

That's what we do... Click here to schedule a complimentary assessment session. We'd love to help you begin taking action on your dreams starting today!

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