Secure Your Millionaire Mindset: Part 2
After reading last week’s Part 1 (CLICK HERE to access it NOW), you should be on your way to clearing out the old phrases, attitudes, and mindsets that have kept you stuck. Now, you’re ready for some financial “meat” to sink your teeth into!
Cultivating a millionaire mindset takes time and patience. But the effort pays off big. Like, it literally PAYS OFF BIG. So, clear your mind of your negative self-talk, shake away your fears, and let’s dive into a few more ways to set your mind right.
The first place to start when shifting your mindset is by focusing on what you CAN do instead of what you think you SHOULD do. That may seem a backward place to start because it’s this mindset of “can vs. should” that helps propel you into millionaire status.
But when it comes to problem solving–and on your way to the top, you’ll have to solve a lot of problems–focusing your attention and energy on what you CAN do instead of what you’ve always been taught you SHOULD do helps to unlock the creative part of your brain that is designed for troubleshooting.
If you want to generate the kind of creative solutions that not only solve your problems but help solve the problems of others, you’ve set yourself on a career path for good. Approach problems with a “should” mindset and you’ll get stuck in the same holding patterns you’ve always been prisoner of. You’ll find the “solution” that seems obvious, but it will narrow you into a limited perspective.
Instead, allow the tension of the problem to build while you set your sights on what you can do. When there is tension, you scrutinized your options more deeply and explore alternatives that will lead to better insights and a more successful solution.
Most people have a fear around money. If you believe you don’t, your fears are just masked by excuses (“I love what I do, I wouldn’t want to give it up to chase the almighty dollar”), doubts (“I could never earn enough”), and misunderstandings (“More money, more problems”).
When you address your fears head-on, you can find a way to overcome them by focusing on what you want instead of what you don’t want. In other words, focus not on the fear, but on the possibilities created through your fear.
With great sums of money comes great responsibility. Many people are afraid of money. They think they want a lot of it, but they don’t have it because they fear it. And the key to people’s money fears is the principle that if you’ve been given much, much is required.
You fear it because you don’t know how to make it. Want to know how to learn? Start learning. Pick up every book you can about handling money, get educated in your field on good practices to make money and act. Don’t know something? LEARN!
We’re all born the same way: naked, dumb, and speechless. Look how far you’ve come from that. Look at everything you’ve learned. You can learn anything you need to learn to become who you want to be, it just takes desire and action, everything else can be overcome.
You’re afraid of your inabilities. If you make $5 an hour, you probably can’t see yourself ever making $500 an hour.
But do you believe it’s possible to multiple your income by ten?
I better be able to hear you shouting this from where I’m sitting in my office in Coeur d’Alene, Idaho…
Of course it is! We live in a free and capitalistic country where you are given more resources and possibilities than any generation before you. But there’s one little factor that keeps people from doing this, and it is their belief that they aren’t able.
If you can find a way to multiply your income by ten (from $5 and hour to $50 an hour), then you can find a way to multiply your income by ten again (from $50 to $500 an hour), and yet again to $5,000 an hour. Don’t believe it’s possible?
All things are possible! Scripture even says it. Believe that the most incredible things are possible in your life and they will be. I didn’t say HOPE for it. Hope doesn’t require faith. I said BELIEVE.
(Have you heard of General Norman Schwarzkopf? Want to know how much he gets paid per hour-long speech? $65,000. If he can start life as a naked, dumb, and speechless baby and grow to make $65,000 an hour, so can you.)
As you balance your life (not at the sacrifice of family and values and your well-being) you must learn as much as you can about economics, overcome your fears of money, earn as much as you can, and share as much as you can.
You must solve this for yourself. Where are your money fears planted and how can you begin to weed out these fears?
“Many of life’s failures are people who did not realize how close they were to success when they gave up.” Thomas Edison
Some people believe you shouldn’t spend a lot of time talking about money. They believe that money is the root of all evil, but that just isn’t true. The LOVE of money is the root of all evil.
Loving money shouldn’t come above loving our family; our family should motivate us to want financial security, so we can build a financial foundation so strong that our family will be safe and secure without faulter.
Think of what money can do for you.
Think of the projects money can support.
Think of the debt money can elevate.
The key of financial intelligence is that if you’ve been given much, much is required.
Shift your focus off of the old ideas that “money is evil” and instead increase your knowledge of what it is, how it works, what attracts money to you (spoiler alert: it’s opportunity), and how to properly manage it. Fewer skills will serve you as much in life as proper money management.
Economics is major. Everyone should major in economics. Not only should you, you DESERVE to.
Learn to make money. If you’re in real estate investing, you’re already in a field of work that has infinite potential. Do whatever you need to become an expert in your field so you can maximize your profits. Get in a good system of study (The Lee Arnold System of Real Estate is a great place to start, but I’m biased). Then, once you’ve gotten the money flowing by trading your efforts for dollars, enter The Circle of Wealth for long-term, passive income. You can diversify from there and increase your portfolio, but you must find the right point of entry so your efforts aren’t lost on work that doesn’t create profit. If you’re struggling, give us a call, we can help. (800) 473-6051.
Learn to protect your money. Shielding your assets and minimizing your taxable income is a good place to start. There are multiple tax deductions available in real estate investing such as “depreciation allowances,” and there are ways to claim passive losses as a real estate professional. Ask your accountant about these opportunities and educate yourself as much as possible and as soon as possible; it will serve you well throughout your career.
How many possibilities can you find? All you want and all you wish.
How much money can you make? All you want and all you wish.
How much property can you own? All you want and all you wish.
Leverage Your Resources
What if I told you there are tools you have in your arsenal RIGHT NOW that you will use when you’re a millionaire? I’m dead serious. Although you’ll have to continue to learn to continue to grow (both financially and on your personal journey through this crazy life), you have a multitude of skills and resources that can serve you NOW and in the future.
Don’t discount what you have by always wanting more. Take your blessings and focus on them, using them for good, and you’ll be surprised how quickly you can turn them into solid gold (symbolically speaking; I don’t have that alchemist formula).
Spend some time analyzing your answers to the following questions:
- What’s been a common theme in your life? What’s something that people would say about you in each job you’ve held? What skills do you see as a theme?
- What skills come to you naturally? How could you use those to make your real estate investing business more profitable? (Get creative, this is just a brainstorming activity.)
- What types of things do friends, colleagues, or family usually seek your input for?
- What’s something that, when immersed in it, you lose track of time?
- What gets your blood boiling? What’s a problem in the world that you’d love to fix?
- What’s one moment or accomplishment that made you feel really confident? What were you doing, and what part of it brought you the most joy?
- In past (or present) companies, what internal or external problems would you be interested in solving?
- What results bring you the most satisfaction?
- Who has a role that looks really interesting that you could learn more about?
- What methods could you use to learn more about this industry or role?
Spend some time around your financial fears and goals. Get on the same page as your spouse and get really clear on your visions together for the future. Then, when you’ve pinned down which skills you have to bring to the table, you can better see the holes you have in your thinking/skill set and can pinpoint your educational needs.
Next week, we’ll dive into what it takes to get you there. In the meantime, share these articles with your friends, business partners, clients, or anyone who you feel could use a mindset shift. You never know whose life you could change by sharing the information. I’ll see you next week for Part 3.
To Your Success;
Lee A. Arnold
The Lee Arnold System of Real Estate Investing
My humble beginnings started as a bag boy at a local grocery chain in Spokane, Washington working for $3.90 per hour. Even thought I aspired to be a manager, I realized I was on the wrong path to success and needed to make some very important changes fast.
Through long years of trial and error, I built up a very profitable, million-dollar real estate business from the ground up. I’m proof-positive that training systems can and do work. Because of this, I created The Lee Arnold System of Real Estate Investing to teach clients how to translate workbook education and real estate theory into the real world of real estate investment success.
Then, I created Cogo Capital® where real estate investors could go for unlimited funds for their non-owner occupied investments. Since then, I have been involved in over 1 Billion Dollars-worth of real estate deals with clients. While the progression seemed natural, we were missing one, very large and essential piece of the pie. Then came Secured Investment Corp, which gave people the training they needed to safely lend on first trust liens (real estate), and make higher returns than they were currently seeing in their stock market, bank CDs, or bond investments. As we combined all these facets—training, funding, and the education to lend on real property—we began to notice a progressing trend of growth and success with the clients involved.
Through this model that we call “The Circle of Wealth,” we noticed that people who entered in at the training level and borrowed funds for their real estate investments eventually became lenders in their own right. They then helped others obtain the capital needed to grow their real estate portfolios. This allowed everyone, on every side, to succeed. It is our goal that everyone can enjoy some level of success in The Circle of Wealth, and inevitably lap it several times over. It’s time to join the Circle of Wealth today.