Mindset is like breathing...

Right philosophy + Mindset + knowledge + massive continued action = 1 unstoppable Mother fuchler!

my 2 cents.

 

That's a good one.
I also know someone who says "There's a lot of money out there for someone who's willing to sit on his ass and wait for it."

 

I have people who live in my properties that, on observation, have nicer furniture than me, nicer cars than me, eat out more and go on nicer holidays. I once inspected a property and commented on the huge TV to be told it was a new purchase. In the same breath, they asked if they could pay rent late, as they were short this week. This didn't seem like a problem to them, but it reinforced to me that most people do not know the practice of 'delayed gratification', the idea of making sacrifices to save for a better future. In my own home I have a mixture of second hand and home made furniture, I would rather sit on a second hand lounge, eat at my home made table and save for my next property, knowing that one day, these properties will pay for all those things others are buying with their time and credit, plus more.

Part of this mindset also includes a willingness to work. I've crawled under houses, insulated tight ceiling in 40 degree heat, and cleaned up dead mice, but as I'm doing it, I tell myself it's for a better future. I have struggled through week long renovations, doing jobs most people would snub their noses at, but on conclusion of the reno, I make more than most make in a whole year of employment.

There are people who love having nice things, a nice car and to show on facebook and in real life how wealthy they 'look' (keep up with those Joneses!). I've made a decision to make a better future for myself and my family, which requires some sacrifices now. I'm not living in poverty, and I still enjoy life with my family, but have a mindset for the future. I think the first step to investing is getting your mindset in order. After that, hard work and investing in the future will become the norm.

Investing in regional NSW property can be cash flow positive, meaning that you can invest without losing money each week. Despite this, depending on your situation you'll still need to save money to begin and most of all, develop a mindset that doesn't care about impressing people today and is prioritising the future.

 

Yes but it´s a trade off though.. time (& health) is limited, so it´s important to use assets for experiences now (not consumer items), rather than delay for a future that may never come. The obvious thing that comes to mind is travel, just do it while you can without going overboard.

"Life is short and unpredictable... so have dessert first"

 

I agree it's important to acknowledge and celebrate the wins along the way.
We are all here to experience life. Money allows more experiences.

 

So why not consumer items .... ?

Personally I like watching the swans on a big screen 4K TV and the battle of the *******s and the 100 took me to a place I can never travel too even in my imagination .

I also do like driving a car which has the latest safety features .

Cliff

 

Would you believe we bought a new big screen 55" Sony TV with android just a few weeks ago for just over $1,000? The screen is only about 1cm thick too. Unbelievable.
TV prices have really come down. This is our replacement of a more than 10 year old 70kg+ CRT which was just about as deep as it was tall. That was $1600 when it was bought from memory. Still worked fine and all but I said I didn't want that in our new house.

Re: cars. Someone is saying maybe the first self driving cars might be the car share types. You request it, and it will come to you. No need to have your own.
Who knows... anyway this is speculation. I think self driving cars will be safer than normally driven ones in the long run. Of course a lot of testing and refinements i'm sure will have to go into it.
But looking forward to seeing them on our roads. They will help cut traffic jams as normal drivers arent so efficient, cause accidents/don't have a great reaction time.

Still, I think the joy of owning a new car tends to wear off fairly quickly for most and can be a drain on most people's finances. My parents just got a new car 2 days ago... it doesnt look any different to the ones they already owned. I dont think it was necessary. My brother in law just bought a new sporty mercedes. And they are having a kid in 10 or 11 weeks. Ummm... not practical.... hope the kid isn't going to be one that likes to spew...

 

good price. I rarely have time or desire to watch TV. can't even find the remote sometimes.

 

Actually.... I've only ever turned on this TV once. I only turn on a TV max once a month on average.

I was watching "Lakeside bargain hunters" and "Island hunters" (or whatever it was called) last night though on channel 94. People buying beautiful lakeside homes in the US for sub USD$300k prices... omg...

 

They're pretty good value now. I remember when they were $10k.
Which model did you go for, was it made in Japan?

 

Malaysia according to what I read in Choice.
Believe its the KDL55W800C (which is the outgoing 2015 model)

 

People at my work know I invest in property and consider it quite glamorous. Renovations can be enjoyable but there are also unpleasant jobs to do that you wish were over a lot quicker. Last reno I rode home from work and got to the property at dusk. I had to drag branches from a cut down tree from the back yard to the front because a green waste skip was being picked up the next day. Just as I started, it started drizzling. That's when I realised the tenant had not been cleaning up her dog's droppings

So there I was dragging wet branches though wet dog droppings in the dark with light rain falling. I wondered what my colleagues would have thought of my "glamorous" property investing!

It wasn't all bad though. I spent a lovely morning on Christmas morning laying carpet. The weather was a perfect temperature and all the neighbours had gone away for Christmas, so it was lovely and quiet. I would rate that as one of my best Christmas mornings ever.

 

then you have not seen "Breaking Bad"

 

@Perthguy that's right mate, they only see/hear of the results but they don't know what really goes into it like you have mentioned a few examples. The amount of sacrifices both small and big is by the hundreds and hundreds over the years, perhaps thousands. Everyday you work those extra 5,6,7,8 hours, that's a sacrifice each and every day in its self, times that by 5 years and you got 1825 sacrifices already just on that.

 

Do they tell you 'how lucky' you are?

 

...and I love my massive diamond ring
no point making money if you don't enjoy it today

 

Exactly. Mindset is just another word for internal beliefs and attitudes and thats where it all begins IMHO.

To purchase my latest mindset / good vibrations course please click HERE

 

All in all, I definitely agree with you, I did however disagree with a couple of your points:

• The power of though: The placebo effect is incredibly strong. Probably not strong enough to cure cancer, but certainly strong enough to keep some people alive during chemo therapy that would have died had they not believed in the medicine. I know that I used the placebo effect with actual medicine, which sounds paradoxical, however the effect is still the same, in this case aided by actual medicine though.
• Meditation: In my opinion, thinking about nothing can be much more productive than having your brain flooded by stimuli and really not producing anything productive. Taking a timeout can help tremendously to focus afterwards.
• Poverty mindset: I think you're looking at this one from the wrong angle. A mindset alone can't change whether you're (financially) rich or poor, if the circumstances don't allow you to be anything other than poor. But with a poverty mindset you'll be poor irrespective of the opportunists around you.
  Most of us have been extremely fortunate in life and had plenty of opportunities. Yet so were millions around us, yet most of them would not have two pennies to rub together after a year of being unemployed. That's the difference of a mindset.

But as I mentioned above, I do feel like you that the importance of a mindset is massively overplayed. A good mindset to a bad one makes a huge difference, but if you're already starting with a good mindset, you're in for diminishing returns by trying to improve on it. In my opinion, if you're willing to fork out thousands of dollars to "get a better mindset", you're already fighting a losing battle. I don't really think that a mindset is something that can be taught, it's something that needs to be acquired.

 

How do you acquire it if it can't be taught?

 

With all due respect, absolutely can be taught. Otherwise elite athletes wouldn't have psychological coaches.



"KEY AREAS FOR PERFORMANCE SUCCESS AT THE OLYMPIC GAMES

• Successful adaptation to the environment
• Self regulation of cognitions, emotions and behaviour
• Competition skills to perform
• Psychological recovery and wellbeing"

Australian Psychological Society : Faster, higher, psychologically stronger: Sport psychology at the London Olympic Games