We
have all learnt unhelpful beliefs along the way. We need
to open our minds to new ways of thinking and shake off
the shackles that hold us back.
I attended a seminar in the USA some time ago where
the speaker made a bold claim. "Give me 5 minutes
with you and I'll predict your financial future," he
said.
And it’s clear this man is not just a wise
guy. His seminars are drawing thousands and thousands
of people right across the USA, Canada and now Asia.
His book hit both the New York Times and the Wall Street
Journal best seller lists.
The essence of what he says is that our upbringing
determines our basic attitude to money. If you’re
brought up in a rich background you’ll have a
totally different attitude towards money than if you
were brought up in a middle class or poor background.
He goes on to say that the poor and middle class
focus on making just enough money to meet the bills,
with maybe a little to spare if they’re lucky.
Many of them feel that achieving real wealth is beyond
their reach, so they don't even think about it. That
this core belief was programmed in before they were
even aware of it is the whole essence of this guy's
message.
He encourages us to look at our own upbringing and
examine our true attitude to money.
Another striking thing he said at this seminar was "If
you see yourself as a tree, look at the fruit of the
tree as the result of what is at the roots. If you
are a lemon tree you don't produce apples, you produce
lemons." Makes sense right?
" Money doesn't grow on trees, money is the root
of all evil, money doesn't buy happiness, we don't
have enough, times are tough, put away pennies for
a rainy day, rich people are crooks, if you have money
you won't have friends, it's not for people like us,
it's hard to make ends meet, we can't afford it, etc,
etc, etc?" Did you hear any of those things from
your parents when you were growing up?
If you've been hearing those words from a very impressionable
age, those are probably your "roots". And
if your “fruits”, your financial results,
are not what you want them to be, it's very likely
that it is because your programmed thoughts are preventing
you from making money. Another name for it is self-sabotage.
I see this on a daily basis. People who have the money,
the job security, the equity, the cash flow, the need
and even a very strong desire to obtain wealth, but
who either never take up the opportunities presented
to them or who cancel their opportunity. They generally
justify their inaction with a logic-based argument
- today's excuses would most likely include rising
unemployment, or that the economy is depressed and
uncertain. These things are true, but if you look
beyond the noise and clutter of the marketplace, it's
because of these very conditions that there are terrific
buying opportunities! Ever heard of buying fur coats
in the summer?
The Chief Executive of BHP, after recording an all-time
record profit for an Australian company, was quoted
as saying "I think that we shouldn't confuse
short term sentiment with what really drives our decisions,
which is the long-term supply and demand outlook".
In simple terms, to be successful you have to look
at the big picture over a long period of time, not
get distracted by what might or might not be happening
in the short term.
The real reason for people's reluctance and inaction
lies very deep, probably deeper than many of us can
appreciate. It goes back to our roots. If you were
programmed to believe that owning an investment property
will mean more responsibility and you are afraid of
responsibility, then no matter how much you want wealth
or to improve your financial position, you will find
a way to sabotage any investment opportunity that can
lead you to wealth because of this underlying fear.
If your mum and dad have told you "Don't go into debt - if you haven't
got the money don't buy it", you will struggle with the concept
of being in debt. Your subconscious will fight it, it will keep you awake
at night, it will unsettle you and you probably won’t even understand
why. Yet it is well-known that the only proven path to wealth is through
debt, or as I prefer to call it, leverage.
This belief programming (“don't go into debt”)
has been handed down to many of us by our parents.
And guess where they got it from? That's right; their
parents, the children of the ‘30s, of the Depression,
who came through a different era than that of today.
And maybe that thinking was appropriate then, but it's
not in this day and age. Today’s reality is that
if you don’t invest, then it is unlikely you'll
ever obtain any real wealth.
I liken it to being a sports fan. You’re generally
brought up following your favourite team. Dad's a supporter,
Mum's a supporter and as a kid you were dragged off
to the games. You wear the scarf, you know the players.
You love and support the team; they become a part of
you. You are programmed with a belief that no matter
how good or even how bad they may become, you’ll
stick with them through thick and thin. The thought
of switching allegiance to another team is unthinkable.
The emotional bond is simply too strong.
So it is with wealth creation. Breaking those powerful
bonds installed at childhood and reinforced right up
to this very day is unthinkable – that is, until
you see how limiting they are. And how they, not all
the other excuses, are the thing holding you back from
leading the life you want to live.
I can highly recommend the book, "Secrets of
the Millionaire Mind, Mastering the Inner Game of Wealth" by
T Harv Eker. It will blow the smoke away that clouds
your thoughts. It certainly did for me.
by Stephen McCarthy
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