In my quest to help people help themselves in the realm of financial education I encounter many challenges. I could list off a hundred but I want to focus on just TWO:

People want to get rich quick
People want to circumvent the basics and find a "loophole" or a "fix"

As much as I wish I had a concrete solution for these two problems, I do not.

If you are looking for a book, course or seminar that promises either of the above, I am not your guy. I, personally, would be quite sceptical of any such claims to overnight riches, and would expect there to be a "catch".

Belief

We are bombarded by movies, tv shows and news stories about people who "beat the odds" or have achieved uncommon success by being famous or brilliant. Internet billionaires and star athletes are constantly being idolized and talked about. Movie stars and musicians who top the charts are all on display as examples of what it looks like to have "arrived".

I believe that this sends us the wrong message. It creates a belief that wealth is something that is reserved for the elite few or the specially gifted. It appears that you may need to be extra connected or plain lucky. Ask people "how do you become wealthy?", and a a disturbing number of them will respond with fanciful answers like:

Win the lottery
Commit a crime
Be a star Athlete
Be a Movie star
Be a RAP star
Sell drugs
Join the MOB
Marry in to a wealthy family
Get in early on the latest IPO.

I could go on.

My toughest challenge is convincing people that anyone can become wealthy. Why is it so hard?

Because the truth is boring. Becoming wealthy is a slow process that takes self-discipline, sacrifice, and long-term perspective. Becoming wealthy is just a process. It is a collection of habits and behaviours that you repeat for a long time.

The reason it is so hard to believe that becoming rich is doable is because of the low odds of any of the above 9 points to happen to anyone. The odds of winning the lottery are astronomically NOT in your favour. Neither is becoming a professional athlete or committing a crime without consequences. If you think that these silly notions are the only way to become wealthy then it is obvious why you believe it is impossible.

I am suggesting that it is possible. I am suggesting that it can be done by changing your mind. You must learn that there is a "real" way to become wealthy and it involves very down to earth and achievable plans that you don't need to be special to execute.

You Must Change

The secret to wealth is becoming the right kind of person. It involves you changing your everyday thinking and actions to support your financial goals and nothing more. You just have to consistently do the right things with the money you already have. Nothing more.

The reason nobody wants to do this is because it is hard.

But, compare that with the alternative.

If said to you:

To become rich you must become a pop star.

The barriers to becoming a pop star are many - most of which are out of your control. You must be good-looking and talented. You just be in the right place at the right time. You must have that something "special" that makes you larger than life. Plus great songs, great management, and a lot of confidence.

If I were to sum up this task, I would would say it is pretty darn unlikely to happen,.

Now, if I said to you:

To become rich you must spend less than you earn from now on

The barrier to this is just you. Anyone can spend less than they earn if they try hard enough.All it takes is self-discipline and persistence. If you cannot do this, then, you just don't want to.

The main point here is whether the "plan" to become rich is actually doable or not. Is it beholden to the winds of chance, or is it just a matter of you choosing to become wealthy?

This is a HUGE difference. One is nearly impossible and the other is actually real, just not easy. It is simply a matter of whether you have the tools to do it or not. Not everyone can be gorgeous and sing like an angel - but everyone can do simple math and live below their means. You are not limited by God-given gifts, just your own willingness.

The Basics

So the starting point to wealth creation is a simple, boring concept. Spend less than you earn. It is not flashy or sensational. It is a hard pill to swallow because it puts the responsibility on you, not chance. It will be psychologically uncomfortable because it is so mundane. You have this immense power within you to actually achieve your financial dreams, but it starts with a basic paradigm a child could understand.

Of course, once you can consistently live below your means, then the real fun begins. Then all of the crazy money manipulation ideas I cover in my books, courses and seminars start to become a real possibility. Once you have the habit of financial discipline, which means following the basic rules, then you have the opportunity to master your money through investing, leveraging and building multiple streams of income. This is breaking the rules.

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