Life coach, mentor, financial advisors

Apart from reading and doing research and personal development courses are there any professional mentors with a wholelistic view of life and investing that you have seeked counsel that has helped you with your journey to success that you can share on this forum. There is no doubt about it as we age and enter into a new decade of our life our needs and understandings change including tax liability, financial freedom and life choices. Some ideas would be interesting. I'm asking this becsuse of seen and heard about so many family members and friends get to an older stage in their life and have little to live off as they retire due to not planning properly and/or making the right choices and I don't want to be the next statistic.

 

I have been actively investing for last 10+ yrs..

Reading books, listening to podcast, forums, seminars, skynews are some of the many places..

Speak to as many ppl as you can including property strategist, financial planners, brokers bla bla..

Social media has made life lot easier to expose people with bad ethics.

Once you find ppl who resonate the most with you and are successful, do all relevant checks and find way to constantly remain in touch with them..

Have someone who keeps you in check with your goals and is brutally honest ..

Cheers,

 

Are you specifically wanting a 'paid arrangement' or a general/casual arrangement. Some people seek paid arrangements as it is formal and they (the person seeking the advice) finds it more difficult to strike up a discussion with someone who they admire/want to be mentored by.

It could be by asking the person's advice about 'how would you go about x (researching an area, maintaining motivation when the course seems difficult, boosting income to meet serviceability etc), then offering a coffee for a catch up. One of my biggest weaknesses is when I get a rejection, it sets me back and takes some time to try again. Those who seem to succeed have grit and just keep plugging away, especially when the odds are stacked against them. Try a few searches through YouTube on the areas you're interested in developing, there may be some clues how to start the process there.

 

Casual coffee catch-ups are best thing mate!!..

Important thing is to filter the junk and associate yourself with right ppl.

Unfortunately, like any other industry, this industry does have bad eggs.

Educate/Build your knowledge so it's super easy to filter!!

Cheers,

 

If you don't want to be the next statistic I suggest you rethink the notion of 'holistic' approach.

IMHO its the 'holistic' life view that screws most people, especially in the crucial grind years. I don't know many people who were able to not neglect/minimise aspects of their life/delay gratification during the grind years to be able to get ahead and secure their futures.

Holistic approach to self? Sure, definitely important. But there is a time and place for that. First are the hardcore grind years of sacrifice, blood, sweat and tears. Don't fall for the whole holistic approach trap. Some thing, or many things have to give in the beginning while you establish yourself. That's been my experience and similar of many of my friends and other successful people I read about.

 

hi @Serveman, good mindset and starting point there.

"I'm asking this becsuse of seen and heard about so many family members and friends get to an older stage in their life and have little to live off as they retire due to not planning properly and/or making the right choices and I don't want to be the next statistic"

this is the fear drives you out of your comfort zone for growth, which could make you do a lot better than your family members ( as you stated in your post).

however I think you are looking for more than that, what are you really passionate about? what make you work till the middle of night without feeling exhausted? what keep you going when you feel down?

this is the real thing that separates the "old" you from the "future" you.

 

Hi @Serveman I'm an experienced investor and coach. I coach property investors but combine this often with Bob Proctor''s 'Thinking Into Results' program to build the right mindset. Happy to chat if you wish.

 

In regards to financial success education, I’ve found from experience that the free or inexpensive material to be the most effective once absorbed and applied consistently.
Be careful not to fall for expensive lessons which promise to fast track results because if you’re not ready, the material is next to useless.
It’s said that it takes 10 years to become an overnight success.

 

Just make sure anyone giving financial advice is licenced and the same for tax advice (difference licenses)

 

Too many people are impatient and want a one size fits all with overnight success.

If you want something, ask yourself -
1. WHY do you want it (ask it to yourself 5 times)
2. Do you want it that badly
3. What are you doing to get it.

If you don't why you want to achieve your goal - then you have no goal.
Also be specific about it - saying "financial freedom" is NOT an acceptable answer (its on par with "cos i wanna" in my opinion).

 

There is a difference in holistic life or finances. And I too have yet to find someone fully balanced all the time. We change and adopt depending upon our priorities, wants and circumstances!
If you are worried about finances then plan your financial life out by following these simple SECRETS, meaning mistakes not to make in your life:
Summary below plan for:

• Secret 1: Learn and dedicate time to finances
• Secret 2: Never spend everything you earn or receive
• Secret 3: Pay yourself first and make it automatic
• Secret 4: Never get into bad debts
• Secret 5: Start and emergency fund
• Secret 6: Make a financial plan for your life
• Secret 7: Never ever keep up with the Joneses
• Secret 8: Never trust others to take control of your finances

Then keep reading holistic literature that applies to life. Don't beat yourself up as long as you have a financial plan then it will be your attitude and how you perceive your life that will make all the difference, your 'personal philosophy' as Jim Rohn called it. Just read or listen to his teachings for other aspects they will enrich your life beyond wild dreams!

 

I like this approach across a number of things.Sometimes I get stuck after the 3rd question but by pushing through to 5 or 6 Whys, you dig much further.

 

call me uber cynical, but life coach is up there for most wishy washy random pointless titles/professions

 

I guess it's getting some advice or point of view that's suitable for ones stage in life and financial capability. Obviously you don't want someone who is just gomg to try and sell you one of their investment products, but at the same time you don't want to make a big mistake as the older you are the harder it is to recover from such things and when you research what the guru's say you get so much contradiction.
The opportunity cost of making the wrong decision is certainly a motivating force in becoming as educated as possible, but procrastination is also bad.

 

As mentioned by others in previous posts.
Different mentors for different things.

It takes a great deal of time and consistent effort to become a subject-matter-expert.

Just like Beethoven didn’t have a six pack, my personal trainer is yet to provide me with quality real estate advice.

Even within the world of real-estate investing, there are many areas:
Residential vs commercial.
Renovation vs development.
Development of duplex vs development of 30 storey apartment block vs boarding houses. Boarding houses vs back-packer hostels.
So on and so forth.

The first step is to work out what area resonates best with you.
Best way to do that, is to get your hands dirty. Not just read, also offer to help people out, give it a go.

My best advice has come for free.

This was from building great relationships, and asking lots of questions. There was an exchange here. A friendship isn’t formed by grilling a person for information and giving nothing back.

The Wife said it best:
teach us to fish

As for paid mentoring. I think it’s fantastic. When you’re ready for it.

As @Ace in the Hole was saying, if you aren’t ready, it’s just gna go straight over your head. May as well throw wads of cash into the wind.

I am heavily involved in real-estate courses as of 2017.
Spent over $50k. Worth every cent... For me.
I’ve met more seminar junkies than those who have taken action. And those who have taken action, were generally already travelling at a great momentum before they started these courses. I had a business and quite a few properties under my belt before spending my first $. Even the first books I read were borrowed from the local library.

When you ARE ready. I’d recommend Brad Cassidy, for a more holistic approach. Key word is MORE. I am yet to meet a successful person who was successful at all things at the same time. Landmark is also pretty great value, and I have heard great things about Tony Robbins.

All the best in your journey.

 

There are two sorts of mentors - Those who are genuinely great leaders and who will assist you. Then there are those who teach because they see it as a way to make money who will only show you their way. Loads of spruikers market themself as a mentor cause it looks nicer but their game is to make $$ from their peeps. So take care as you are jumping into a shark tank.

Mentors may be unqualified to guide certain things too eg tax, financial advice, credit advice and may have bugger all knowledge of a profession or market. Some are just good talkers...sales people. Some are terrific...But few. One issue is some mentors tend to "guru" themself and those around them drink the cool aid and start to blindly follow (worship) due to a belief in blind faith. They become blinkered. Belief in a prophet rather than independent advice. Like a cult. They could tell some to put their head in a fire and they would. Any mentor could have told someone to go long on property 6-8 years ago and look good.

Beware one term in coaching - holistic. Means they have no specific idea or qualifications maybe. A master of nothing and expert in none.

Bear in mind it wont be tax deductible either.

 

Jack of all trades, master of none i believe is the saying you're after.