While most of us want to become rich and successful, it’s really not as easy as many suggest on social media.
In today’s show Tom Corley and I explain why building wealth is a two-step process and the requirements to not only build wealth, but retain wealth.
Takeaways
- The easiest way to grow wealth in Australia is through residential real estate.
- Becoming rich involves a two-step process: accumulating wealth and maintaining it.
- Daily growth habits, such as reading and self-education, are crucial for success.
- Building rich relationships can significantly impact your journey to wealth.
- Avoid spontaneous purchases to maintain financial discipline.
- Isolate a portion of your wealth for retirement planning.
- Wealth management requires a team of experts, including financial advisors and tax experts.
- The habits to get rich differ from those needed to stay rich.
- Mentorship is vital; seek mentors who are two levels above you.
- Wealth is a journey that requires continuous learning and adaptation.
- The world doesn't owe you anything; take responsibility.
- We owe the world our talents and efforts.
Chapters
00:00 The Two-Step Process to Wealth
03:59 Habits for Accumulating Wealth
06:43 Daily Growth and Relationship Building
09:41 Persistence, Patience, and Risk-Taking
12:21 Controlling Emotions and Building Teams
15:02 Mentorship and Learning from Others
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