If you have read my books, taken my course, or just read my articles from time to time, you may be aware that I often suggest what might be considered “unconventional” investment ideas. I do this for a few reasons:

I believe that by thinking “outside of the box” that we can find ways to build a nest-egg whether we think we can afford to or not.
I genuinely want to help people. I have been in the position of struggling financially and it SUCKS. I want to give people hope that there is a way out. Sometimes the only reason people are struggling is because they just don’t have the right information.
I am convinced that the standard investment/retirement planning philosophies are not the ideal way to achieve financial freedom.

However..

I need to emphasise that good old-fashioned RRSPs, 401Ks or mutual finds are still a practical, viable and time-tested way to build your wealth. I recommend these “more traditional” strategies for one very good reason.

It is better than nothing.

I know many people who have zero savings.

Nada.

Nothing.

They are living month to month on whatever money they can scrape up from their jobs and nothing more. I see these people relying on fate or “luck’ to solve their problems. They buy lottery tickets every week with the hope that a serendipitous windfall will save them . They assume that if they can manage to grind it out until old age, the government will finally give them a safety net through some federal pension plan or old age security. These people struggle unnecessarily. They can have more, but don’t realize it.

There are also those people who have put off saving/investing until it is too late. They justify their lack of savings by saying “when the kids leave home, then I will have the extra money to put away”, or “When I get that promotion I will invest the extra”. But they never do.

Or those people who think they are smarter than everyone else and are looking for the “edge” and refuse to “buy in to the system”. They are looking for a get-rich quick scheme or a “secret” investment idea that will blast them ahead of their peers. But they never seem to be able to pull it off.

To those of you who fall into one or more of these categories I am suggesting that the only way you are going to improve your circumstances is to find a plan and stick to it. And the earlier you can begin, the better.

Keep It Simple

It is really not super-important which plan you choose right now. If you simply participate in your employers matched-contribution retirement savings plan, you are setting yourself up for success. Do this for your whole career and you will be farther ahead than many people.

Simply follow the old fashioned “Pay yourself first” philosophy and invest 10% of your take home pay into a mutual fund, preferably a tax-sheltered one like an RRSP or 401K. And stick to it. Do it consistently for your whole career and you will be amazed at where you will end up. You may not be “rich” but you will not be poor. This state is miles ahead of where you would be if you do nothing. Just do something.

The Law of Attraction

Like I said, something is better than nothing. You can start small and go from there. You can just put a small amount of money into a savings account and never touch it. That would still be better than nothing. It is not what I would do, but it is a positive first step. Many smart people have suggested that “having money” attracts more money. I think there might be something to this. If you have money in the bank, you tend to make better decisions. You tend to act more confidently and believe in your own power to control your life. You will make decisions based on logic not desperation. If you have any affinity for the “Law of Attraction” then you might get where I am coming from. Like attracts like. If you make it a point to accumulate money, no matter what the scale of your ability do so is, you will change your circumstances as this state of being will alter your reality. I have seen it work.

This is not magic or witchcraft. It is simply psychology. If you make better decisions, most of the time, that will result in better outcomes. If you act confidently, you will generally achieve more than if you act out of fear or lack. If you have money, you are better able to recognise opportunities when they come around. Having money in the bank that you are committed to keep, will put you in a whole different mindset and allow you to navigate with confidence and maintain a winning perspective.

So if you want to just start a simple retirement savings plan and build it over your lifetime and retire at 65 without doing anything else , I salute you. You are amazing and I want to shake your hand. You don’t have to do my BYOB method. You don’t have to start your own e-commerce business or trade cryptocurrency. You can just do the basics, and you will have set yourself up for success. You are truly in the 1%.

All you need to get started is a little money, self-discipline and long-term perspective. I believe that if you live in a free country with a reasonable GDP you are good to go. Just start. You don’t need to get crazy. Just have a plan and stick to it. Adjust as you learn. Life will throw all kinds of curveballs at you. Take the punch and get back up and keep going. There is no other way. You cannot fail unless you quit.

I know that things may seem insurmountable to some of you and I totally understand. But there is always a way out if you are willing to keep moving forward. It doesn’t matter how fast you can go right now, all that matters is that you are moving in the right direction - towards wealth. If you are able to save $10 a month right now, that is a MASSIVE step in the right direction as it has the power to change your thinking. It has the power to help you discover your true potential and drastically change your thinking. Don’t underestimate the value of a positive bank balance.

If you want to expand your knowledge and learn some helpful strategies that you can use to improve your financial life then I invite you to consider my books and courses. I have compiled some useful strategies that you can use to get ahead financially no matter where you are starting from.

If you choose to pass on my work until next time, then I recommend these 5 books as a great place to begin. Or, if you really want to be inspired, please give yourself the gift of the timeless wisdom and practical advise of my good friend Brian Tracy.

You are amazing. Prove it to yourself.

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