You may think that being good with money is something that you’re born with. Like being good at English or sports, perhaps you see it as a skill that some people just happen to have. I think this is a dangerous assumption, but, unfortunately, it’s one that many parents make about their kids. They categorize…
In my Rich Habits Study, I learned just how important your beliefs are for those pursuing success and wealth. The wealthy in my Study had very different beliefs than the poor in my Study. Beliefs represent the acceptance of something without any proof to back up what we accept as fact. They are almost always…
The price of Bitcoin has risen 64% in 2024 so far. That’s after rising 156% in 2023! Last week, a client brought to my attention that the CEO of the largest asset manager in the world, Blackrock, suggested that crypto is a good long-term store of value. He likened it to digital gold. This might all seem like…
We’ve all heard stories of so-called overnight successes. Well, I’m here to tell you they’re a myth. But what about the people who win the lottery or inherit a large amount of money, you may ask? I don’t consider those people to be success stories. They’re certainly fortunate — and good luck to them — but there…
Is financial infidelity worse than adultery in a relationship? Well, a Finder survey of 1,096 respondents revealed that 1 in 5 Australians (21%) – equivalent to 4.2 million people – think lying to your partner about finances is worse than physically cheating. Baby boomers (23%) are most concerned with financial fibs in a relationship, compared…
With an aging population and ever-decreasing government resources, Australians are looking at being less reliant on the social security safety net and planning personal strategies to give themselves comfortable financial security in later years. Given the vagaries of the stock market, investing in property is being recognised as a less risky way of owning a…
The jury is still out on how the global economy is expected to perform in 2024, but as seen during the pandemic, economic turmoil sometimes provides opportunities for the wealthy. We visualize the percentage of high net worth individual (HNWI) respondents who expect their wealth to increase in 2024, categorized by generation and gender, from…
Is it bad to want to be rich? Let me ask that question a different way. Is it bad to want to be successful at your job or in your business? If your knee-jerk reaction is to say, “Yes, it’s wrong to want to be rich,” what you’re really saying is it’s wrong to want…
Some of us really like the status quo. Even when we have a better alternative, many of us are content to keep on doing what we’re doing. I think about this every time my wife and I swap cars. Depending on who is running what errands that day, we’ll switch between our big car and…
I spent many years studying the rich and the poor in my Rich Habits Study and found that there were twelve problems almost everyone has to contend with in life: Health Problems Financial Problems Family Problems Neighbor Problems Home Repair Problems Car Problems Addiction Problems Job Problems Relationship Problems Death or Disability Problems Time Management…
