Woo-woo Mindset Hacks

Hi Friends

Let's talk purposeful wealth creation.

I know most of us are having a crack at investing - some just because they feel like it's the 'right' thing to do if they want to not retire at 75, and others with a full fire-in-the-belly, full focus on growing extreme wealth.

I want to talk big wealth - for eg, people who bring in over $1M/yr personal taxable income, ideally from business.

First of all - do any of us know people in our own circles who do this? How many?

For those of you who do have these people in your circles, have you ever asked them how they did it - not so much from a 'doing' perspective but from a mindset perspective?

I'm a huge reader, and have recently gravitated back to a few of the mindset books that go into declarations, very purposeful thought/mindfulness/meditation and so on, and I'm interested to hear your thoughts on that kind of thing - whether you think it's a load of crap, v whether it's completely essential to rake in the big bucks.

Or whatever works

I'll post a poll, but interested to hear proper responses too.

Have you used any specific techniques that you found particularly useful to break through self-inflicted boundaries?

 

I sometimes hold investor nights at my place (though I haven't had one in quite a few months) with a close group of friends, all in business. Some RE related some not. All imo, super financially successful. What I found through our conversations is (from a mindset perspective) they all in one way or another try to master their emotions cause as you know emotions influence our physiological reactions which influences our decision making and what actions or lack of action we take. They also were extremely focused and had a very, very, very strong sense of self, regardless of what anyone else thought of them.

You may find this clip interesting.

 

I voted that I think its all crap, but I do think if your strong minded in the way that you don't give up and keep trying until you get your way/ when you get knocked down/knocked back that is a quality that gets you things you want.
Sorry if hard to read its been a long day!!

 

I know maybe 3 people that earn that level of income. A handful more at about half that.

They are definitely into mindset, however it is more from a desire to sharpen their minds, and souls, as opposed to creating wealth. I know at least one has done Tony Robbins, and quite a few other courses. We can have a good chat on Joe Dispenza, or Paulo Coelho. We know when Jordan Peterson, or Brian Cox is in town for a talk. Even have a laugh over the light readings of Neil Strauss.

Whether there is a correlation, or we happen to be friends because we have these things in common. I don't know.

I would say they would have been successful regardless. They have a thirst for personal growth, and an insane work ethic, backed with sharp minds.

More often than not, I meet more people into the woo-woo mindset hacks, who are absolutely broke. Yesterday I had a chat with a person who is doing quite a few seminars, quite their job to become a developer 6 years ago. I cut straight through the woo-woo and asked how much her net-worth had increased in 6 years. Sounds like it went backwards.

There's a great chapter on it in the book 'the subtle art of not giving a ****'. Gives the example of a woman who strongly embodies the positive never give up mind-set. However she doesn't have the values right to guide that belief to anything constructive.

Great book. Simple. Read it twice this month. Worth a read.

To note: Having a large income doesn't necessarily = wealth. One of the guys on $1M+ net, he got there by reinvesting every dollar he made to grow his business. He is only JUST growing his net-base.

 

I've tried meditating, yoga, etc. It's really not for me but I acknowledge that it might be useful to some people. I don't think this leads to 'wealth' either. That's really a function of small steps over time in the same direction.

That said I do have my own ways of clearing my head and focusing. It's just a bit different to sitting on a mat and putting myself in uncomfortable positions.

 

I do have that book. I'll read it again. So many books, so little time

I agree -woo-woo won't work on it's own, but can open some doors when people are ready to make some changes. The woo-woo increases awareness, I think, which then allows you to take some new actions.

 

You put yourself underwater instead

 

Breath calm and slow...

These days mostly I shoot arrows at targets. You really need to be focused to do it well.

 

I'm posting this link here as I think it relates to mindset and wealth. Wealth is just a measure of success. It gives you options and what option you choose will determine whether the wealth stays with you....

The Desire To Be Rich is a Good Thing - Rich Habits Institute

 

Hard work, discipline and the right mindset can improve ones probabilities of success but that doesn't mean one will be successful for sure.

As per @NHG , most people that i know who follow woo-woo mindset hacks are pretty much broke or no better financially than anyone else and on the other hand, most people that are doing really well, have had some lucky break in their lives that either changed their mindset and work ethics to the better or enhanced and boosted their existing hard work ethics and so on.

To my mind, the notion of self made men/woman doesn't exist. There was always someone or something that gave this person a break to get to were they are in the present.

 

Still think passive income is the best marker for real wealth.
Have friends who earn +$1k/day but once they stop working they're living ordinary lives...they have no real long term investment strategies and often delve into risky investments.
Work hard when you have to, work smart as much as you can and always follow your heart/gut/instinct and make good choices....

 

You might enjoy this you tube channel called The Daily Positive. I really like her content and general approach to life.
The Daily Positive

 

I go into this a bit in my new money course - financial psychology is really interesting and there's so much emotion surrounding money that we can be holding ourselves back without even realising it.