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The 3 Biggest Obstacles to Becoming Financially Free - featured image
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The 3 Biggest Obstacles to Becoming Financially Free

What has been the single greatest obstacle stopping you from becoming financially free?

Why do I ask? money bill finance debt

Well...last week at a private client function I was conducting I had the good fortune to have conversations with a number of our Wealth Retreat graduates.

I was talking with them about their experiences since attending our 5-day workshop, what they had learned, what they were doing differently, and how they were leveraging the relationships they had built at Wealth Retreat.

Some interesting comments came out which I'll share with you in a moment, but first I want to ask you that question again:

What has been the single greatest obstacle stopping you from becoming financially free?

Speaking to these Wealth Retreat graduates, here were the three main hurdles I've seen them face.

As you read on, see which of these three get in your way.

Maybe you're facing more than one of them!

Obstacle #1: Isolation: It's hard to build wealth on your own

Without question one of the biggest things I consistently hear from the Wealth Retreat graduates is that before they joined us at our 5-day retreat they were isolated in their wealth building. 

They didn't have a Mastermind group of like-minded investors, entrepreneurs or business people with whom they could share their challenges, brainstorm ideas, leverage contacts, or celebrate their successes.

Many said they were looking for a group of ambitious, positive, like-minded, supportive doers to help them succeed.

You see...alone you are vulnerable.

You will never reach your fullest potential.

But when you connect with the right people, a whole new set of options you never dreamed possible opens up to you.

In fact, one of the main reasons people attend Wealth Retreat is to have an instant peer group of movers and shakers.

In today's changing financial environment it's even more important than ever to have a supportive mastermind group around you.

Can you imagine how much faster you'd reach your goals and how much more fun you would have along the way if you were a part of a community of elite wealth builders who could support you?

Obstacle #2: Fear

One of the greatest obstacles to building financial freedom is fear.

And with all the mixed messages in the press at the moment with concerns about floods, the after-effects of the Corona Virus on our economy, what will happen when JobKeeper ends, growing social unrest in Australia - not just overseas, the challenges with obtaining finance and talk of a property bubble developing, many of us are more fearful than ever.

This fear can be taken many forms, but the big 4 fears I come across are:

  1. Fear of failure - this is especially prevalent.strong chalkboard
  2. Fear of debt - most of us have been taught that debt is bad and not to take on more debt. Strategic investors recognise that debt in itself is not necessarily bad, rather it's not being able to repay your debts that's a problem.
  3. Fear of success - Interestingly, some beginning investors put off their investment decisions because they are haunted by a fear of success. While this may initially seem strange, this fear generally stems from a feeling of unworthiness, where people convince themselves that they are undeserving of wealth or wanting to accumulate wealth makes them a bad person.
  4. Fear of the unknown - Who wants to go into a dark room? Who wants to go to a party where you don't know anyone? Who is not nervous about buying their first investment property? Whenever the outcome is uncertain, fear rears its ugly head.

Another fear I have commonly seen is the fear to follow your passion.

Many people I see spend 40 or more hours a week doing a job they don't enjoy and can only dream of following their passions.

Interestingly around 30% of the attendees who attended Wealth Retreat in the past moved up and left their jobs.question uncertain

You can find out more about Wealth Retreat by clicking here

I remember when Stuart, a plumber, sold and cut back his hours working in the business to concentrate on property.

Last year he bought a huge multi-million dollar development site with some joint venture partners to undertake a very substantial development - something he would never have dreamed of when he came to Wealth Retreat a few years ago.

Justin gave up his job in hospitality to run an Internet business.

Julie gave up the security of her IT job to work for a property developer.

The shift in their mindset that they (and all the other attendees at Wealth Retreat) achieved allowed them to give up the security of their day jobs and instead focus on the financial freedom they really wanted.

So what's the fear that's stopping you?

In today's economic climate where debt is a dirty word, many people are scared of borrowing more.

Maybe you're like Phillip, a three-time Wealth Retreat grad...  risk investment market

Before Phillip joined us at Wealth Retreat one of his biggest fears was that he wouldn't be able to borrow the money required to fund his property portfolio and allow him to keep doing deals.

He had given up his job and had no income in the traditional sense.

Well, since attending Wealth Retreat, Phillip has bought several more properties and when I spoke with him a few weeks ago (he and his partner have become very good friends of Pam and I) he told me he has sufficient financial buffers to see him through for over 3 years.

I know Phillip could not imagine he would have given up his job, let alone build and live off his property empire when he first came to Wealth Retreat.

Here is the key that has made all the difference for Phillip... and every other Wealth Retreat graduate:

When you have a peer group of high achievers and big thinkers pushing and stretching you, anything becomes possible.

How about you...

What are you doing to take advantage of the new property cycle?

This is a time when fortunes will be made by those who know how to cut through the clutter. property cycle

This is a time when the rich will become richer.

This stage of the cycle is when lifetime wealth is created.

We haven't experienced conditions like this for over 2 decades

So what are you going to do?

Are you going to acknowledge your fears, and then step up and take action anyway?

What would you do if you were not afraid?

What one dream would you dare to dream and go after if you knew you could not fail?

When you play at a different level you get a different result.

You will get no better chance at life than at this moment!

Obstacle #3: Uncertainty

The third major obstacle I've observed our Wealth Retreat graduates had to overcome was confusion.

They had heard so much conflicting financial advice over the years that they quite simply didn't know which direction to move in.

Can you relate to this feeling of being overwhelmed?

One of the most valuable benefits of Wealth Retreat for attendees was that it simplified the complex world of wealth building and business planning so that they had a crystal clear, specifically defined plan of action to pursue their personal wealth building.

The biggest property myth of 2011

For five full days and nights, they had access to top accountants, financial planners, share traders, business coaches, finance strategists, and property advisors.

People like :

  • Michael Yardney (me)
  • Ken Raiss  - director of Metropole Wealth Advisory, who’ll speak on tax, structuring, risk, and asset protection for serious investors
  • Dr. Andrew Wilson – Australia’s leading independent housing economist.
  • Simon Kuestenmacher one of Australia’s leading demographers who will give us detailed insights into what’s ahead in our future
  • Tom Corley, a CPA and bestselling author and speaker who spent 5 years studying why the rich keep getting richer. This year he can’t fly out to join us from the USA but will be appearing virtually and at the last event Tom was one of the highlights and the attendees gave Tom a standing ovation.
  • Pete Wargent, economic commentator and a chartered accountant who achieved financial freedom at the age of 33.
  • Mark Creedon – business coach to some of Australia’s most successful entrepreneurs –including me and the team at Metropole. Last year he delivered one of the most highly prized presentations, so we’re extending his sessions and there will be special breakout sessions for business people.
  • Louise Bedford – a successful share trader and educator. Her presentations were eye-opening for many attendees last year
  • Andrew Mirams – a finance strategists
  • And there will be a large group of property experts.

Take the example of Laurie, a two-time Wealth Retreat graduate:

He had been a builder and property developer for years, but he was still on a treadmill, working longer hours than ever.

I clearly remember how on day 4 he had an "ah-hah" moment when it all fell into place and he said in that 10 minutes, he learned something that would make him half a million dollars.

When he returned the next year, he learned a time management skill that he was sure would make him 100% more productive.

Julie joined us but was concerned that she could not contribute to the Wealth Retreat community.

Well, she was wrong and came back a second time, but this time she was working in her field of passion - property development.

In fact, she came back twice more!

If you're committed to step up and play with the big boys you must learn what they know because what you don't know can get you into trouble.

So there you have the three biggest obstacles that I've watched our Wealth Retreat graduates overcome.

Are any of the three factors in your own personal wealth building?

The real meaning of wealth

With all this talk of making money, I want to make sure we step back for a moment and look at the bigger picture. Work life balance choices

We all know that money is only one layer of real wealth and prosperity and certainly not the most important.

Sure money is important in those areas of life where the money is important, but it is not important in those areas where it is not important.

To be truly prosperous you need much more than money.

Wealthy people have time, freedom, relationships, health, spirituality and they contribute a lasting legacy.

Right now we are preparing for Wealth Retreat 2021 and have a limited number of spaces available for this exclusive event.

And maybe, just maybe, you'll be exactly who we're looking for.

If you think you might be the type of person who would not only benefit by being with us for 5 days at Wealth Retreat but more importantly are over the next few years, then by all means, please keep reading.

success

This year some of the topics, speakers, and emphasis will be very different to the past.

We’ve added a range of new subjects to give a more holistic curriculum and there is a whole new curriculum and break-out sessions for business owners or those wanting to get into business.

Plus we've once again invited my good friend best-selling author Tom Corley to join us from the USA.

Of course, he won't be able to make it physically this year because of travel restrictions that we still going to have him giving a real-life presentation - not actually a hologram, but it will be fun seeing him live on the big screen

He spent 5 years studying the rich and the poor and the habits that differentiate them and he'll share this with you when you join us.

Last year Tom's two presentations so wowed the audience he received a standing ovation.

It not only inspired and motivated the attendees - it gave them the tools they needed to make the changes they needed to create the transformations they wanted

You can find out more at www.WealthRetreat.com.au

If you're not sure it's for you please click here and read what some past attendees had to say. 

Then read all about Wealth Retreat 2021 and register your interest in joining us.

If after speaking with you and learning more about your situation we believe you would benefit from joining us, I’ll back myself and the faculty and take all the risk.

I’ll guarantee your satisfaction attending the event!

I’ve never done this before – I guess I haven’t had to.

Every year this event books out because we limit the number of attendees to 75.

And every year a large proportion of the attendees are return attendees, so I know they’ll be happy. light bulb idea leader think smart clever failure motivate thought

But if you’ve wanted to come in the past and you weren’t sure if Wealth Retreat is for you, click here now, find out all about it and register your interest on our website and we’ll be in contact.

This is really the year you must join us. Especially if you're an investor, entrepreneur, or business person

  • We're likely to get a new government - do you understand how this will affect you, your business, and your investments?
  • We're likely to have a raft of new taxes - do you know how to protect yourself?

One of the reasons I am so excited about Wealth Retreat 2019 is because this is going to be a chance for our very top clients to mix and mingle with each other and a group of leading experts in investment, property, shares, tax, economics, business and finance.

Forgetting the 5 days of actual teaching time we'll spend, can you imagine what you could learn by being around the other participants and advisors, getting their one-to-one input on your wealth-building efforts?

As in previous years, we have strictly limited the places - the room size is kept small on purpose so that participants get the most out of their time with us.

While we have many return attendees, we still have a few remaining spaces for this soon-to-be sold-out event.

Here are the three bottom-line facts about Wealth Retreat 2019:

Number 1: it is an exclusive annual 5-day event that is only available to a  handful of investors, business people, and entrepreneurs, and their partners. And once the allocated spaces are gone--and that will be very soon--then your window of opportunity will be gone. We're holding it over the long weekend in June (so you can't use work as an excuse not to come.)expert leader

Number 2: the week isn't cheap, but if you are the type of person who is going to attend this won't put you off. This way we know that all of the people at the event are 100% committed to playing at the highest levels.

Number 3: Wealth Retreat is only for real doers who are committed to building something special out of their wealth building. It's not going to be a "seminar". It will be intensive networking and masterminding event where we will actually be focusing on large breakthroughs.

Why are we limiting it to so few people?

Because we realise that an event like this will be a huge success and produce incredible results if we bring together a small and highly select group of high achievers who have plenty of one on one time with the experts and networking time with the other attendees.

But don’t count yourself out from coming…

 Every year a group of aspiring investors join us and get the type of information that propels them ahead – the type of information I would have loved to have when I started out.

We are also looking for people who will be a positive presence to the group and are committed to making an impact on the world.

If you are interested in joining us this year or want to find out a little more I urge you to please leave your details here and we'll be in contact with you to have a qualification interview with and me secure your place,

Of course, you can also check out all the details at www.WealthRetreat.com.au and register your interest there.

You may even be able to let Scott Morrison subsidise your attendance...

My accountant tells me that joining us at Wealth Retreat could be partially tax-deductible for many attendees.

Just like every other year, I will chat with attendees for Wealth Retreat to make sure we carefully select the best blend for the event  and that you can take advantage of what we have to offer  teamwork puzzle help peer group team

To be fair, I'll do the interview on a first-come, first-serve basis.

Once the remaining spaces are gone, that's it.

And remember... I’ll back myself and the faculty and take all the risk.

I’ll guarantee your satisfaction attending the event!

Who Are We Looking For?

We are looking for experienced investors, share traders, business people, and entrepreneurs who are willing to take on these challenging times and are committed to taking their investment and business to the highest levels.

We are also looking for people who will be a positive presence to the group and are committed to making an impact on the world.

Don't count yourself out...

If you are interested in joining us this year and take one of the remaining spots or want to find out a little more please leave your details here and we'll be in contact with you to answer your questions and have a qualification interview with me.

Now is the time for you to step up and seize the opportunity our current financial climate is offering us.

About Michael is a director of Metropole Property Strategists who help their clients grow, protect and pass on their wealth through independent, unbiased property advice and advocacy. He's once again been voted Australia's leading property investment adviser and one of Australia's 50 most influential Thought Leaders. His opinions are regularly featured in the media. Visit Metropole.com.au
14 comments

I read your response and I'm sorry you're having trouble getting a loan, but no where in my writings have I made any suggestions the rich are better than the poor or anything like that. Every person is invaluable and my discussions are not meant to b ...Read full version

0 replies

Jeremy - sorry I have to disagree - every week hundreds of ordinary Australians buy their first investment property and thousand buy their first home. And that's because they have financial discipline

0 replies

No, Nic, things have definitely changed. You know how I know? Because in 2005 my then wife and I were able, on ordinary incomes, to save up a deposit and buy a 3 bedroom brick house in a Melbourne suburb. We were subsequently divorced and I ne ...Read full version

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