One of the most common question I am asked, especially in today’s more uncertain property markets, is “where should I invest?”
It’s a great question and I often taunt the questioner by explaining that I’ve figured out the best place to invest and it’s one that never fails.
Now that’s a very bold statement — but would you like to know where it is?
I’m sure I’m correct in saying the very best place to invest is…
Now I can see the eyes rolling but don’t underestimate the value of this piece of advice.
I remember being taught by Jim Rohn, one of my early mentors, that “Your income rarely exceeds your personal development.”
Therein lies the simple key to growing your income — growing yourself!
So let me ask you a question…
How much do you invest in your personal development each year?
Most people never invest at all in learning and growing, and this means these people usually fail to develop an income that continues to grow.
Yet they want to own a successful business or grow a multimillion dollar property portfolio.
However, you can’t drive a Ferrari with the engine of a Hyundai!
And if you think about it, it’s the only investment where your return on investment will never be negative.
You’ll always be a winner investing in yourself, because you will always learn something to help make you a better property investor.
I believe we all have a future waiting for us and that future is not fixed — it’s fluid.
I also believe that we are always creating our future through our actions — by the things we do and the things we choose not to do.
It’s cause and effect – so to change our futures to become a more successful business person, investor or entrepreneur, you must change how you’re thinking and change what you’re doing.
Meaning a great place to start is to invest in yourself — in your personal development.
The amount of information available today is mind boggling.
With podcasts, blogs, videos and books we can research to our hearts content.
We can read opinions, discussions and reviews and decide with whom we agree and disagree.
The problem is most of what you read is wrong and won’t serve you well.
Having said that, all the successful people I’ve worked with over the years focus on continuing their education and self-improvement.
That fits in nicely with another quote from my mentor Jim Rohn — one that has helped me along the way to my success: “Don’t wish it were easier — wish you were better.”
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In contrast, the average Australian reads a book or two and follows a few blogs and thinks they’re all set.
In my opinion, this is a recipe for failure.
As you start your investment journey you may not have the same mindset as successful people if you feel investing a few hundred dollars to attend yet another property seminar or a few thousand dollars to engage a mentor (a real mentor — not a salesperson disguised as a mentor) is a waste of time, energy and money because you won’t come home with the magic formula to make it big overnight.
What if you spent time reading a book or attended that seminar and decided “this is not for me” — would that really be a waste?
I believe I’ve learned to think the way Thomas Edison did when he had all those failed attempts at inventing the light-bulb.
He would say “great, I know of one more thing that doesn’t work” and each time he failed, he knew he was closer to the answer.
This useful way of thinking — where others saw failure Edison thought he had a success — that he had invested in himself and his future.
And this is how you must begin to think.
While it is very unlikely you will learn nothing at all, you really should begin to think that no matter what the outcome from reading a book, attending a seminar or going through a coaching program, you will have learned something that is of value to you.
Even if you learn it’s not for you! You’ve saved time and energy and future money by not continuously pursuing this option.
I hope you get that?
I still read books, attend seminars, pay coaches, partake in mastermind groups.
Even though many people consider me an expert in my field, I realise that I don’t know it all, and I never will.
So I continuously invest in myself and so should you.
I’m a true believer of investment in both tangible assets as well as the most valuable asset I will every own — ME.
You see... I help ordinary Australians who want to achieve financial freedom attain this through becoming super successful property investors by teaching them exactly what they need to do; in a large part by turning up their financial thermostat, which means they can give their loved ones everything they desire and this allows them to live the life they deserve.
As I said, the outcome for those who allow me to mentor them is we turn up their financial thermostat.
This helps them see opportunities where others see problems.
It allows my mentorees to use the knowledge they have to grow their wealth and many, who are not happy with their current job find and pursue their passions
I’m still excited when I see the transformation in these people who allow me to mentor them as they get more choices in life and develop financial freedom for their families.