17.1 C
Melbourne
Monday, December 23, 2024

Trending Talks

spot_img

The 3 Biggest Obstacles to Becoming Financially Free

[ad_1]

What has been the single greatest obstacle stopping you from becoming financially free?

Why do I ask?

Well… a few weeks ago at a private client function I was conducting I had the good fortune to have conversations with a number of our Wealth Retreat graduates.

I was talking with them about their experiences since attending our 5-day workshop, what they had learned, what they were doing differently, and how they were leveraging the relationships they had built at Wealth Retreat.

Wealth

Some interesting comments came out which I’ll share with you in a moment, but first I want to ask you that question again:

What has been the single greatest obstacle stopping you from becoming financially free?

Speaking to these Wealth Retreat graduates, here were the three main hurdles I’ve seen them face.

As you read on, see which of these three gets in your way.

Maybe you’re facing more than one of them!

Obstacle #1: Isolation: It’s hard to build wealth on your own

Without question one of the biggest things I consistently hear from the Wealth Retreat graduates is that before they joined us at our 5-day retreat they were isolated in their wealth building.

They didn’t have a Mastermind group of like-minded investors, entrepreneurs or business people with whom they could share their challenges, brainstorm ideas, leverage contacts, or celebrate their successes.

Many said they were looking for a group of ambitious, positive, like-minded, supportive doers to help them succeed.

You see…alone you are vulnerable.

You will never reach your fullest potential.

But when you connect with the right people, a whole new set of options you never dreamed possible opens up to you.

In fact, one of the main reasons people attend Wealth Retreat is to have an instant peer group of movers and shakers.

In today’s changing financial environment it’s even more important than ever to have a supportive mastermind group around you.

Can you imagine how much faster you’d reach your goals and how much more fun you would have along the way if you were a part of a community of elite wealth builders who could support you?

Obstacle #2: Fear

One of the greatest obstacles to building financial freedom is fear.

And with all the mixed messages in the press at the moment with concerns about the economy, interest rates overseas geopolitical problems, a resurgence of the coronavirus, mortgage defaults, growing social unrest in Australia – not just overseas, the challenges with obtaining finance and talk of a properties dipping in value in 2024, many of us are more fearful than ever.

This fear can take many forms, but the big 4 fears I come across are:

  1. Fear of failure – this is especially prevalent.
  2. Fear of debt – most of us have been taught that debt is bad and not to take on more debt. Strategic investors recognise that debt in itself is not necessarily bad, rather it’s not being able to repay your debts that’s a problem.
  3. Fear of success – Interestingly, some beginning investors put off their investment decisions because they are haunted by a fear of success. While this may initially seem strange, this fear generally stems from a feeling of unworthiness, where people convince themselves that they are undeserving of wealth or wanting to accumulate wealth makes them a bad person.
  4. Fear of the unknown – Who wants to go into a dark room? Who wants to go to a party where you don’t know anyone? Who is not nervous about buying their first investment property? Whenever the outcome is uncertain, fear rears its ugly head.

Fear

Another fear I have commonly seen is the fear of following your passion.

Many people I see spend 40 or more hours a week doing a job they don’t enjoy and can only dream of following their passions.

Interestingly around 30% of the attendees who attended Wealth Retreat in the past moved up and left their jobs.

You can find out more about Wealth Retreat 2024 by clicking here and if you’d like to join us please leave me you details and I’ll speak with you personally.

I remember a number of years ago when Stuart, a plumber, sold and cut back his hours working in the business to concentrate on property.

The next year he bought a huge multi-million dollar development site with some joint venture partners to undertake a very substantial development – something he would never have dreamed of when he came to Wealth Retreat a few years ago.

Justin gave up his job in hospitality to run an Internet business.

Julie gave up the security of her IT job to work for a property developer.

The shift in their mindset that they (and all the other attendees at Wealth Retreat) achieved allowed them to give up the security of their day jobs and instead focus on the financial freedom they really wanted.

So what’s the fear that’s stopping you?

In today’s economic climate where debt is a dirty word, many people are scared of borrowing more.

Maybe you’re like Philip, a three-time Wealth Retreat grad…

Before Philip joined us at Wealth Retreat one of his biggest fears was that he wouldn’t be able to borrow the money required to fund his property portfolio and allow him to keep doing deals.

He had given up his job and had no income in the traditional sense.

Well, since attending Wealth Retreat, Philip has bought several more properties and when I spoke with him a few weeks ago (he and his partner have become very good friends of Pam and me) he explained to me how he has sufficient financial buffers to see him through for over 3 years.

I know Philip could not imagine he would have given up his job, let alone build and live off his property empire when he first came to Wealth Retreat.

Here is the key that has made all the difference for Philip… and every other Wealth Retreat graduate:

When you have a peer group of high achievers and big thinkers pushing and stretching you, anything becomes possible.

How about you…

What are you doing to take advantage of the new property cycle?

This is a time when fortunes will be made by those who know how to cut through the clutter.

This is a time when the rich will become richer.

This stage of the cycle is when lifetime wealth is created.

So what are you going to do?

Are you going to acknowledge your fears, and then step up and take action anyway?

What would you do if you were not afraid?

What one dream would you dare to dream and go after if you knew you could not fail?

When you play at a different level you get a different result.

You will get no better chance at life than at this moment!

Fear Business

Obstacle #3: Uncertainty

The third major obstacle I’ve observed our Wealth Retreat graduates had to overcome was confusion.

They had heard so much conflicting financial advice over the years that they quite simply didn’t know which direction to move in.

Can you relate to this feeling of being overwhelmed?

One of the most valuable benefits of Wealth Retreat for attendees was that it simplified the complex world of wealth building and business planning so that they had a crystal clear, specifically defined plan of action to pursue their personal wealth building.

For five full days and nights, they had access to top accountants, financial planners, share traders, business coaches, finance strategists, and property advisors.

People like :

  • Michael Yardney (me)
  • Ken Raiss  – director of Metropole Wealth Advisory, who’ll speak on tax, structuring, risk, and asset protection for serious investors
  • Dr. Andrew Wilson – Australia’s leading independent housing economist.
  • Simon Kuestenmacher one of Australia’s leading demographers will give us detailed insights into what’s ahead in our future
  • Tom Corley, a CPA and bestselling author and speaker spent 5 years studying why the rich keep getting richer. This year he can’t fly out to join us from the USA but will be appearing virtually at the last event Tom was one of the highlights and the attendees gave Tom a standing ovation.
  • Mark Creedon – business coach to some of Australia’s most successful entrepreneurs –including me and the team at Metropole. Last year he delivered one of the most highly prized presentations, so we’re extending his sessions and there will be special breakout sessions for business people.
  • Brett Warren – national director at Metropole will give attendees a peak behind the curtain of what research the team at Metropole undertake to ensure our investments outperform.
  • Kate Forbes – will explain how she uses her decades of investment experience to help Metropole’s high-net-worth clients structure their property portfolios to outperform the markets and safely grow, protect and pass on their wealth to future generations.
  • Pete Wargent, an economic commentator and a chartered accountant who achieved financial freedom at the age of 33.
  • And there will be a large group of property experts.

What would it be worth to you to be able to sit down with us one-on-one and pick our brains?

Well, that’s what happens at Wealth Retreat – click here now, find out more and express your interest in joining us.

Take the example of Laurie, a two-time Wealth Retreat graduate:

He had been a builder and property developer for many years, but he was still on a treadmill, working longer hours than ever.

I clearly remember how on day 4 he had an “ah-hah” moment when it all fell into place and he said in that 10 minutes, he learned something that would make him half a million dollars.

[ad_2]

Source link

Serendib News
Serendib News
Serendib News is a renowned multicultural web portal with a 17-year commitment to providing free, diverse, and multilingual print newspapers, featuring over 1000 published stories that cater to multicultural communities.

Related Articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest Articles