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By Michael Yardney

The biggest obstacle to wealth

key takeaways

Key takeaways

The biggest barrier to wealth for many Australians is not the lack of information but their financial thermostat, which is often set too low from childhood, dictating their comfort level with wealth.

Wealthy individuals like Richard Branson operate with a financial thermostat set to billions - the average Australian has their financial thermostat set very low.

Our beliefs about money are largely shaped in childhood by our parents, teachers, and societal influences, which often instill limiting beliefs about wealth.

Most people don't achieve significant wealth because their subconscious beliefs hold them back, such as thinking rich people are bad or believing wealth is out of reach.

To change your financial destiny, you need to recognise and discard disempowering beliefs, adopt successful people's belief systems, and take action based on positive beliefs.

Success in wealth creation is about becoming the person who thinks and acts like the wealthy (Be, Do, Have), not about external circumstances or blaming others.

Alongside the right mindset, a proven property investment system, knowledgeable advisors, and a supportive network are essential tools for taking your property investing to new heights.

Some time ago I discovered the money secret that separates the wealthy and successful property investors from the average Australian.

You see...I found out what the biggest obstacle was that stopped people from becoming wealthy.

Growth Wealth

And I would like to share my findings with you today...

For almost a quarter of a century, I have been conducting property seminars around Australia and South East Asia.

I have been teaching how I have grown my own very substantial property portfolio and became wealthy through property and how many of my students and our clients at Metropole have used real estate to develop financial independence.

Some of my seminars have lasted a few hours, others a full day and at times I conducted 3 and 5-day intensive workshops.

Yet the results have always been the same...

While the attendees always got loads of information, tips and tricks; some people took action after these events and got outstanding results.

Yet others who sat right next to these action-takers went home and didn’t do anything differently.

This always disappointed me and I wondered what I could do better.

Initially, I thought I had to give them more facts, additional tips or extra information.

So I packed even more into my seminars, but the results didn’t change.

What was it?

As I studied this phenomenon I came to realise that it wasn’t the quality of the information that stopped some people from taking action.

It was something inside them - their mindset or what I call their “financial thermostat”.

We all have a financial thermostat inside us that determines the level of wealth we are comfortable with.

What level is your financial thermostat set for?

For example, Richard Branson has his financial thermostat set to billions.

Imagine if he was “only” a millionaire.

He would feel poor, wouldn’t he?

Some people have their thermostats set for millions of dollars, others for thousands.

The average Australian has their financial thermostat set very low.

The problem is, if your financial thermostat is set for a low level, then the way you think and the way you behave will keep you poor.

Even if you have all the information, even if you know all the steps to take; things like fear and doubt will hold you back.


We’ve all heard of people who have come into money, such as lottery winners, and lost it because they just couldn’t handle it.

Your wealth usually shrinks back to the amount you can handle.

It’s been said that if you took all the money in the world and divided it equally amongst everybody, it would soon be back in the same pockets it was before.

I’m sure that is correct.

It is hard to keep that which has not been obtained through personal development.

What this means is that most people will never develop the wealth they truly deserve because their financial thermostat, which was programmed to a low level of wealth when they were children, holds them back.

We are not born knowing how to “do money.”

We are all programmed by our parents, our teachers, culture, religion and peer group.

This means that in general we have been programmed by un-wealthy people.

Take a minute to think about what you were taught about money

What did you hear from your parents about money and rich people?

Did you hear things like:

Money doesn’t grow on trees. Money is the root of all evil.

Rich people are greedy and selfish. Money won’t make you happy.

Money isn’t that important anyway.

Do any of those sound familiar?

What did you see at home about money when you were young?

We learn a lot about how to behave in all areas of our lives by modelling our parents.

So how were your parents when it came to money?

Did they argue about money?

Was one more of a saver or was one a spender and free with money?

Were they good money managers or was one or both of them money mismanaged?

It’s interesting how many of us end up becoming so much like our parents in the arena of money.

Unless we were very angry as a child and then we tend to rebel and become the opposite of our parents.

How did your parents behave around money when you were young?

Your experiences around money as a child also affect how you were programmed.

Have a think about it...

Did money mean happiness or did money mean arguments when you were young?

Was money ever used as a substitute for love or as a form of bribery?

For most of us the subconscious programming we received as a child was and continues to be disempowering.

These limiting wealth beliefs were instilled in us when we were children and at the time they seemed very true, but they are no longer relevant to us today.

If your experiences were like mine, the people who taught you about money – your parents, your grandparents, your teachers – had the best intentions.

They wanted you to succeed financially.

The end result is often a raft of disempowering beliefs about money, wealth and rich people.

Unfortunately, since they had never been taught about how money really works, all they could pass on was their own belief systems, often based on scarcity rather than the abundant thoughts that are necessary to feel truly wealthy.

Beliefs that are neither true nor false nor wrong or right.

Your beliefs are your beliefs and they work at a subconscious level.

But your beliefs can be empowering or disempowering.


Most Australians will never become rich because of their beliefs.

At some level, they believe that rich people and/or money are bad.

Or that wealth is beyond their reach; or that they do not deserve to become wealthy.

Then they find ways of justifying to themselves why they don’t want to become wealthy, or why they don’t deserve to become wealthy.

For things to change in your life, you must change first.

You must pinpoint the negative or limiting wealth beliefs that are holding you back from reaching your true potential.

So how do you move forward?

How do you get yourself to take action?

You will need to do 3 things….

1. Develop Awareness

The first step is to evaluate your current position.

How are you doing financially?

Become aware of what’s working – the thoughts, actions and behaviours you want to keep and what’s bad  - the things you want to change.

Which of your beliefs is not working for you?

What lessons about money and wealth were handed down to you many years ago, but have not been updated for your current needs?

2. Discard your non-empowering beliefs

Now that you understand that some of your beliefs about money and rich people are holding you back it’s time to discard your non-empowering beliefs.

3. Develop new beliefs

You then need to adopt the belief systems of successful people.

Model yourself on other successful people – people who have already achieved what you want to achieve.

For you to lose weight you would not only need to adopt the actions and behaviours of someone else who lost weight, to keep your weight off in the long term, you would also need to learn to think like a slim person thinks.

The fastest way for you to become financially successful is for you to adopt the thoughts and behaviours of people who are already financially successful.

What do these people do differently?

And it’s not just the steps they take - it’s what they believe and how they think about money and wealth.

4. Take Action

Now it’s time to act on your new positive beliefs.

It’s called Be, Do, Have.

You become the person you want to be as soon as you start thinking and acting like that person.

If you want to become wealthy, become wealthy in your mind first (be that person).

Then do what wealthy people do – act wealthy.

In turn, you will have what wealthy people have.

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Wealth is the result

It’s a result of your thoughts and beliefs, which lead to your actions.

If things aren’t working out the way you want them to, you need to stop taking the easy way out and blaming outside factors.

It’s not your boss’s fault, nor is it the government or interest rates.

It’s not even a lack of information.

It’s not even the lack of content in my blogs, books or seminars.

And you need to stop justifying why you are not financially successful.

Most of what you have today you have attracted by becoming the person you are today.

If you want things to change in your life financially, you must change first.

It is important for us to understand that we are all fully responsible for our financial results.

Most of what you have today you have attracted by becoming the person you are today.

If you want things to change in your life financially, you must change first.

The good news it that your life can change because you can change.

When we throw out our blame list and start becoming more of ourselves – interestingly everything will begin to change around us.

A bonus tip to ensure you become wealthy…

Apart from the right mindset, if you want to change your financial position in life you’re going to need:

  • More and different knowledge
  • A proven property investment system
  • The right network of people to support you

If you have a system, a great team of advisors, your finances organised and the right knowledge, now could be a great opportunity to join the big league and take your property investing to the next level.

Why not join us at Wealth Retreat 2024 on the Gold Coast in April?

How would you like to spend 5 days with me and my personal mastermind group?

If you do then maybe 2024 will be the year that everything changes.

Join me for five transformative days on the Gold Coast from April 27th to May 1st and get the one-on-one private mentorship you need to achieve your most ambitious goals and dreams.

Not just in property, but in business and life in general, because Wealth Retreat aims to create Lifetime Wealth and leave a legacy.

When you join us you will get:

  1. Mentorship - You’ll have the opportunity to interact one-on-one with me and our guest experts so we can help you gain deeper insight and achieve your specific goals in property, business and life.
  2. Masterminding - You’ll spend several hours a day brainstorming and getting ideas, advice and solutions to your challenges from a hand-picked group of high-achievers.
  3. Networking - You’ll have plenty of time to build relationships with the other participants during breaks, at meals and at night, so you can connect on a deeper level and benefit from their input and expertise.
  4. Fun – the days will be very full, but at night we’ve got some surprises for you.

And if you would like to get the highest possible level of support for your most ambitious life and business goals, I encourage you to join me there!

You can learn more about this life-changing retreat here.

Here’s your chance to take your property investment, career or business to a much higher level – or change the script completely and set off on a new path that’s better aligned with your passion and purpose.

If you are interested in joining us, please leave your details here and we'll be in contact with you to have a qualification interview and secure your place quickly.

It is a unique opportunity – a very rare chance to work with a great team of mentors.

Wealth Retreat attracts an extremely high calibre of attendees.

These are people who are already successful and willing to take serious leaps in their careers, their personal lives, and the contributions they’re making to the world.

They’re the courageous few who dare to step out of the dominant culture of resignation and mediocrity and endeavour to create the life of their dreams.

Don't count yourself out...

When you surround yourself with such motivated, energised, spiritually charged people, you tap into the power of the group and become more energized and powerful yourself.

There’s no limit to what you can accomplish with the support and encouragement of such incredible people!

Please note that to ensure the best possible experience, Wealth Retreat is limited to 95 participants only.

This event WILL sell out – especially as 25% of the places are already taken by return attendees.

This happens every year because past participants have achieved amazing results.

I remember a couple of years ago Glen came back to Wealth Retreat.

In 2018 Glen set audacious 5-year goals but ended up achieving a heap of them in 12 months.

He came back in 2019 and shared his experiences from the stage to show what’s possible.

Click here to check out the top lineup of Australian property, tax, business, and finance experts and find out more about the curriculum.

And you'll have the comfort of knowing that your attendance will be covered by my personal guarantee.

Click here and please give yourself the chance to assess this opportunity properly – it will take about 10 minutes to read all the information.

This is likely to be the most important year for you to attend.

While we can’t predict the future, we have lined up Australia’s leading experts to help you formulate a plan to protect your position and exploit the opportunities ahead.

You will have the opportunity to spend 5 days with some of the Sharpest Minds in Australia, discovering proven systems and strategies for profitable property and business systems.

Click here now and get all the details.

If you have any further questions please leave your details here and you'll get a call from Jo Fitt who will be happy to answer all your questions and organise a one-on-one chat with me.

The intimate format of this workshop will give you plenty of time to ask your own personal questions of our faculty of speakers.

Use the online form to express your interest and you'll hear back from Jo Fitt who will be happy to discuss this further she'll organise a time for a one-on-one chat with me.

It’s up to you now – I look forward to meeting you on the Gold Coast and being part of this exciting event.

Don't count yourself out!

Click here and express your interest and I'll speak with you and I'll explain my personal guarantee.

So put me to the test. There is next to no risk on your part - except what you think is missing if you don’t attend!

About Michael Yardney 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.

Don't be manipulated by other people when it comes to your money. Keep it as separate as possible and start investing early. Develop healthy habits and behaviours. Understand that as a creature of habit (as our brains want to be conservative with en ...Read full version

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put a defined amount of money aside every week, week in week out. If you do that, say $100 per week every week no excuses, you will end up with a lot of money after a few years and if you then invest it , housing etc , you will become wealthy just th ...Read full version

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Thanks alot for your help and advice about this subject.

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