Issue #12 – 4th June 2020
1) Understands money (to get enough of it)
2) Innovative (developed problem solving skillset)
3) Control over their time and their life
Did COVID-19 make you a better person?
When you look closely, all around us, we can see that the world, despite the news delivered by popular media, has become a better place in many ways.
Some people in India have seen stars in the sky at night for the first time in decades – some for the first time in their lives. They wondered what those bright lights in the sky were! Fish have been noticed swimming up The Thames for the first time in living memory. Pollution, in some of the world’s major cities, has dropped to low levels, not seen for decades. Is Planet Earth smarter than us all?!
Tick off any of the above and you are a better person than you were before COVID-19.
The next question though is what else can you do to be a better person?
Having had a complete reset over May, it’s the perfect time for some self-reflecting.
Positioning for Success
What is slightly amusing is how apathetic people can be around their financial planning and positioning for the future. Then later, they suffer from anxiety and even stress about it!
How do you feel about your progress – seriously?
Here are 10 things that you can do to position yourself more effectively for a more secure, more fulfilling and better quality life in the future – just pick one.
Pick one and move away from ‘I don’t know where to start, it’s too hard, I’ll do it later, I’m not sure …’ If you know someone who can help you, go to them right now. If you do not know where to start or who to contact, click this link, ask us to contact you and we will help you or send you to someone else who can.
Align your behaviour with your goals
What do you choose? We have talked about this before – haven’t we?
One of the most common mistakes that many people make, when trying to get ahead, is that they try to transaction it.
They think that by saving money, paying off debt, investing in property, along with other transactions that this will help them to achieve financial success.
It can, but usually does not. The odds are more than 90% against financial success by attempting to do what everyone else does – transaction it.
From a mindset perspective, it is useful to remember what this is actually all about. Mindset is about linking your behaviour to your big picture goals.
So, this is really easy. Right now, if you are serious about getting ahead financially, and succeeding on purpose, by design, resolve now to become strategic.
Take a look at the chart above (Transactional vs Strategic Mindset). Read every word and then consider how you go about your financial planning.
How are you positioning yourself? Is it for financial success or …?
Today’s mission is simple:
- Resolve now to review how you are going about your financial planning and positioning and determine whether it is transactional or whether it is strategic. Just check the chart above;
- If you would like some help, let us know. We are right here.
Price is what you pay; value is what you get
Last time, I said I would explain how to invest successfully. Here it is:
Remember, I mentioned the importance of investing in ‘capital assets’.
They are assets that have a cashflow. Currencies do not have cashflow. Gold does not have cashflow. Land without a business or improvements on it does not offer cashflow, commodities … you get the idea.
You can invest in assets that are secure and will grow. They also have a cashflow to help make your asset grow faster and to support it during challenging times.
I know, you just want someone to say, “Click this link and invest in this fund or asset and …” Yes, that’s transactional and not helping you much at all.
At WISEplanning, my clients and I developed a system for investing.
We worked out that whatever we did, it needed to be simple enough that pretty much anyone could do it. It was safe and no one would get hurt but at the same time, it was good enough that it would help us to accumulate enough wealth, enough assets and enough passive income that we could stop work if we felt like it – something few ever achieve.
In other words, to get enough money so that we could work when we choose rather than because we have to.
The system we came up with is called The SUSTAINABLE Wealth Model. Note how it is a system and not a transaction. This is a simple system, comprised of three assets (capital assets that are mainstream, that anyone can invest in).
Better still, when we use the system, we are no longer concerned so much about economic conditions, markets, COVID-19, a change in government, property crashes, share market crashes and all those things that everyone else worries about.
Next time, I will explain why that is the case; however, in the meantime, if you would like to know more, click here.
“The secret to getting ahead is getting started.“