Seven Reasons Why Most People Never Make It Financially
- They associate negative things to making and/or having money.
- They never make having an abundance of money an absolute must.
- They never develop an effective strategy for building wealth.
- They fail to follow through consistently on their financial plan.
- They rely too much on “experts.”
- They become financially complacent.
- They allow financial crisis to turn into financial ruin.
- My most limiting beliefs about having absolute financial abundance:
- I need to work hard for money
- Having an abundance of money is not an absolute must for me
- Focussing on money will take time away from self-actualization
What specific amount of money represents financial abundance to me?
- $3.5 mil
What I will do today toward developing a financial plan:
- Listen to 1 video from FTA
What I learned today that I can use to make progress:
- Focus on following through my strategy
- It doesn't matter that my plans don't make me millions yet
Financial terms and aspects of personal finance I don’t currently understand fully:
- Commission Fees
- Margins of safety
- Portfolio allocation
- Why I’m committed to follow through:
- Because this will liberate my mind to focus on my passions
- Because having abundance will allow me to give and contribute
- I can't wait any longer. I am already well into my 20's, such waiting has cost me much in the past.
One or two situations from the past when I pulled through despite difficulty:
- A-levels -> I was falling behind by a huge chunk but through an intense period of focussed effort, I manage to pull myself up to speed and even score A's