Michael Yardney /

[Podcast] What You Must Understand About How the Rules of Money Have Changed with Pete Wargent

[Podcast] What You Must Understand About How the Rules of Money Have Changed with Pete Wargent
View all Michael Yardney Podcast episodes and subscribe via your favourite player:

Money doesn’t care about what color, race, or class you are.

It doesn’t care what your parents did or who you think you are. It doesn’t discriminate. My Podcast #198 Rules Of Money

And you have the same rights and opportunities as everyone else to make as much of it as you want.

But the majority of Australians will never be financially independent.

On the other hand, a small group of Australian investors and business owners are becoming very wealthy.

Why is that?

Most people complain they don’t have enough money. But the reality is that most people just don’t understand the rules of money.

Today, I’m going to have a chat with Pete Wargent about how the rules of money have changed in this new era.

3 ways in which the rules of money have changed.

Lower interest rates

Interest rates will be stuck at the effective lower bound for years to come.

Yields are also being pushed down further out along the curve, with the 3-year bond yield being a particularly important funding benchmark in Australia, so mortgage rates are also falling to the lowest level in history.

Central banks and governments want you to go out and spend, invest, and build businesses, and incentives will be put in place for you to do so.

Cash is dead

The cash economy was dying before 2020, but the shutdown effectively sounded the death knell for cash as a means of payment and exchange.

The latest usage data showed that retail spend on credit cards is now actually higher year-on-year, and this in spite of the shutdown. Increasingly we pay for goods using plastic rather than physical currency in the form of notes or coins.

This trend was well underway before 2020, but the shutdown has accelerated the death of the cash economy.

Overcoming mental obstacles about money

More than ever before, it’s important to be mindful and attentive towards your money, but it’s also critical to remove the silent mental obstacles towards growing your wealth and bank balance. Children Money

As alluded to above, central banks are effectively creating new money at an unprecedented rate.

With the growth of social media and online commentary, it’s become abundantly clear that many infer you can somehow only have more and become more at the expense or to the detriment of others.

To be blunt if that’s your world-view, and how you view money and self-development, you’ll never sustainably be able to have more wealth.

Money is, after all, inanimate; it does not and cannot care what you think of it.

Links and Resources:

Michael Yardney

Metropole’s Strategic Property Plan – to help both beginning and experienced investors

Pete Wargent  Next Level Wealth

Pete Wargent’s new book Low Rates High Returns

Some of our favourite quotes from the show: Gehälterverteilung

“The way you become wealthy is by upgrading your wealth operating system; turning up your financial thermostat.” – Michael Yardney

“You can’t have a scarcity mentality about it; you’ve actually got to think abundantly.” – Michael Yardney

“Successful people don’t let setbacks set them back.” – Michael Yardney

PLEASE LEAVE US A REVIEW

Reviews are hugely important to me because they help new people discover this podcast. If you enjoyed listening to this episode, please leave a review on iTunes - it's your way of passing the message forward to others and saying thank you to me. Here's how

icon-podcast-large

Subscribe & don’t miss a single episode of Michael Yardney’s podcast

Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.

Need help listening to Michael Yardney’s podcast from your phone or tablet?

We have created easy to follow instructions for you whether you're on iPhone / iPad or an Android device.

icon-email-large

Prefer to subscribe via email?

Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.


Michael Yardney

About

Michael is the founder 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.


No comments
Copyright © 2024 Michael Yardney’s Property Investment Update Important Information
Content Marketing by GridConcepts