Your Undeveloped Attitude About “Money” Is Stopping You From Making Millions.
“For most people, money is in control of their emotions and their souls.” -Robert Kiyosaki
Full disclosure: I don’t have millions of dollars.
But I do know that the wrong attitude about money can keep you locked in mediocrity forever — and the right attitude about money can unlock more income than you ever thought possible.
One of the most popular articles I ever wrote — it hit the #1 spot on all of Medium.com — was called “Want To Make Millions? Then Act Like a Millionaire.” It presented a simple concept: if you want want someone you admire has, then start acting like them. They probably know what they’re doing.
A negative attitude towards making money — namely, that making a lot of money is “bad” — encourages self-sabotaging behaviors. If you’re afraid of money/if you dislike money, you won’t have any.
The problem is, many people are afraid of money. They’re afraid of making a lot of it.
Sounds crazy, I know. But trust me — keep reading.
I was reading an article the other day about someone’s bad experience with an Multi-level Marketing (MLM) scheme. To be sure, the author was dealing with a scam in this particular situation, but the lesson they learned was even worse:
“When it comes to making money, non-traditional paths are usually bad.”
Negative attitudes towards wealthy and money will keep you exactly where you are with your money — which, for most people, is being broke.
It’s time to upgrade your mindset about money — and once you do, you’ll start making more of it.
“Success is measured by the size of your belief. Think little goals and expect little achievements.Think big goals and win big success.” -David Schwartz
Success is Determined By the Size of Your Thinking
If your biggest goal is to stay in the crowd with the familiar 9–5 job with the 3% annual raise…then that’s probably what you’re going to get.
After quitting my corporate desk job of 5 years, moving overseas, and becoming a full-time writer with multiple passive income streams, I learned a simple lesson:
You usually get what you aim for.
The problem is, most people are aiming very low. In the words of the great Michelangelo: “The greater danger for most of us lies not in setting our aim too high and falling short; but in setting our aim too low, and achieving our mark.”
The ancient philosopher Aristotle agreed: “Our problem is not that we aim too high and miss, but that we aim too low and hit.”
Here’s a simple question: what are you aiming for?
What is your biggest goal?
After recently reading over a dozen autobiographies of some of the world’s most successful people, I realized that all these actors, athletes, leaders, entrepreneurs, and performers had a very clear idea of how to achieve a very high goal. Then, they fully committed to that goal.
For a long time, I wanted to be a writer and work for myself. I knew I wanted to quit my desk job. I knew I could do more than hope for an annual raise and another 5 days/year of vacation time.
I aimed higher. And eventually, I got what I aimed for.
A long of people have let life knock them down — they’ve become jaded, sarcastic, and fearful. They’ve realized that it’s safer to criticize other’s dreams than get back up and try to achieve their own.
But success is determined by the size of your thinking. It’s up to you to make sure you’re not thinking too small.
“All of us, more than we recognize, are products of the thinking around us. And much of this thinking is small.” -David Schwartz
It’s Easy To Follow What’s Popular — That’s Why You Shouldn’t.
In his book Atomic Habits, #1 New York Times best-selling author James Clear made an interesting point: he said that human are wired to always look for the path of least resistance. In other words: we always try to find the easiest way.
I can relate. Duh. Why make things harder if you don’t need to?
But while most people see the dragon, a few people notice that every dragon is guarding a big pile of gold. Most people see how difficult something is — it’s up to you to see beyond that. What could you get if you succeeded?
“99% of people are convinced they are incapable of achieving great things, so they aim for mediocre,” wrote #1 NYT best-selling author and entrepreneur Tim Ferriss. Harsh, but true. “The level of competition is thus fiercest for ‘realistic’ goals, paradoxically making them the most competitive.”
It’s easy to follow what’s “popular”. Everyone’s doing it. There’s less chance of ridicule and embarrassment if you failure doing what everyone else is trying to do. It’s much riskier to try and fail at the goals no one’s brave enough to try.
After reading 7 of the most popular finance books of all time, I learned an important lesson:
If you follow traditional advice, you’ll probably never be rich.
Here’s what I mean:
To Get Different Results, You Must Do Things Differently
“You must walk to the beat of a different drummer. The same beat that the wealthy hear. If the beat sounds normal, evacuate the dance floor immediately! The goal is to not be normal, because as my radio listeners know, normal is broke.” -Dave Ramsey
This was one of the most eye-opening paradigm shifts I had in all my reading.
The majority of people aren’t wealthy. Most people are some version of broke, in debt, or have poor financial behaviors. Most people overspend, don’t save, don’t invest, and don’t develop their financial intelligence.
So why on earth would you ever follow their advice?
“One of the reasons that millionaires are economically successful is that they think differently.” -Thomas Stanley
Think of the most common financial advice you’ve heard over the years. It probably includes recommendations like:
- Save your money
- Get a good job with a good paycheck
- Diversify your portfolio
- Be frugal
- Don’t take big financial risks
- Your home is your biggest asset
- Pay off your credit card every month
But according to the world’s most influential financial books, this advice is usually bogus.
Traditional advice is actually what prevents people from attaining great wealth. The ideas are usually based on risk-avoidance and fear. They’re too small. Archaic. Outdated.
Wealthy people don’t touch this stuff.
One of the most common characteristics of massively wealth individuals is that they typically go against the tide of mainstream financial behavior.
Irving Kahn, a 109-year old hugely successful investor once quipped, “I would recommend that private investors tune out the prevailing views they hear on the radio, television and the internet. They are not helpful.”
Warren Buffet agrees. “A good investor has the opposite temperament to that prevailing in the market.”
While everyone is panicking, the wealthy are taking advantage. Ramit Sethi once said, “Fear is no excuse to do nothing with your money. When others are scared, there are bargains to be found.”
Truly wealthy people ignore traditional advice.
In fact, wealthy people’s behavior is commonly considered risky, impulsive, or even dangerous by the majority. Yet, they’re the ones with the fortune, not us.
In short: if you want to build massive wealth, don’t listen to traditional advice. You’re going to have to do things differently.
“I will tell you how to become rich. Close the doors. Be fearful when others are greedy. Be greedy when others are fearful.” -Warren Buffet
There are lots of negative, undeveloped mindsets people have about money that is keeping them broke.
There are hoarders: people so terrified of losing money, they never open their clenched fists, so they never get any more.
There are over-spenders: people keen on spending money to feel better (instead of addressing their real issues) that even if you gave them money, it’d all be gone soon.
Look — it’s time to upgrade your attitude about money. It’s the only way you’re going to expand your mind and figure out new ways of doing things.
Because if you never learn the truth about money, you’ll never have any.
Ready to Level-Up?
My new book, What Extraordinary People Know: How to Cut the Busy B.S. and Live Your Kick-Ass Life just released!