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Have You Got The Mindset To Make Money Work For You?
By Greg Suggate
Why is it that we live in such a rich country, yet most people are not rich?
At school we are not taught a financial education, or even how to manage cash, we were taught how to work for but not how to make work for us.
Also at school we were taught to memorize. When doing an exam you would study for a bit and normally memorize all your notes the night before. If you had to sit that exam a year later you would probably fail because you would've forgotten the information, so it's not really learning is it? Memorizing, and putting into practice are two different things.
For most people, they're also afraid to step out of their comfort zone to try new approaches or strategies to get what they really want in life and end up sacrificing their time and to a cause they have no interest in. Are you dedicated enough to step out of your comfort zone and make a difference in your life?
Another reason why people won't step out of their comfort zone and have a go in life is their focus. They're not focusing on their destination, for example as Jamie McIntyre explains it, "When driving, do you focus on your destination and where you're heading or do you focus on the bugs on the windscreen?" Those bugs are related to fear and pain. When you mention investing to the un-educated or those without the right mindset, they have the fear and pain of losing money. For most people the need to avoid pain is greater than the need to gain pleasure.
Another point of mention is mindset. In particular, the mindset of the majority of people around money. Most people delude themselves when it comes to money. They think will solve all their problems, hence the reason why many people buy lotto tickets. But look what
happens to the majority of those who actually win lotto, most are worse off three to seven years later. They never had the mindset to make work for them. They had more than their personal development. You only have to look in some trashy celebrity magazines and you'll more than likely find a movie star, rock star or sports star stuffing up their life because they've had more than their personal development. Mindset is 80% of what it takes to be financially independent, 20% is strategies but without the mindset you'll never implement and fully take advantage of the correct wealth building strategies.
Everyone has so much fear and panic at the moment because of the share market, but for those with the right mindset and education will see massive opportunity.
You only have to look at the big players like Warren Buffet, who is among the richest people in the world, to see the great opportunity available. He recently invested over six billion dollars into one of the heavily beaten down global investment banks.
Some people are too fearful, they're afraid of something which has happened to either themselves or someone else they know, but what's the point of dwelling on the past. Would you go flying down the highway looking in the rear view mirror? Hopefully not, so why would you do it in life?
Also, the general cultural belief system around which the majority of Australian's subscribe to will hold most people back and that is "if something sounds too good to be true it normally is". But if you never take a chance on something or take on any risk in your life, what are you going to be stuck doing for the rest of your life? More than likely you will struggle, whinge and complain about lack of time and money.
Greg Suggate is an accomplished Stock and Options trader and Entrepreneur. Although having a Diploma of Financial Services he has no interest in working in the Financial Planning industry. His goal is to demonstrate to those less fortunate about the benefits of financially educating themselves. To find out more about Greg and to purchase his e-book package detailing his personal trading strategies, visit www.optionsrevealed.com
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