When I finished high school in our small country town, I couldn’t wait to get to the big city and seek my fortune! At the time, I didn’t think I was a big risk taker, but according to my friends, they thought I was! The good thing is that as scary as my risk taking was, it taught me how to build assets over time.
So, I want to address this ‘risk taking’ thing because right now, many people are in fear mode, scared to do anything, and living in mediocrity. I empathize for millions of people out there because it’s not easy. But for those who are even a little open to new things, this is actually the best time to take action.
Master The Money
As a kid growing up on the family farm, we had very little money. For the most part, it all went to building assets – the land that my parents kept acquiring so they could build a legacy for their family.
The good thing about not having much money was that it taught me how to be responsible with money and showed me how to invest in assets. I had no idea this was contributing to my financial education, and because I lived this day in and day out, it groomed me for success in asset building.
My philosophy is that money is just the byproduct of your job or business that you can leverage to acquire assets. This in turn brings in residual income and increases your net worth, so you can live life on your own terms.
During my teen years, I had to be involved in the 4H Club livestock program – raising, feeding, and showing cattle for the judges. It also included proper record keeping, animal health, and being accountable to all the requirements. Little did I know, this yearly project was going to be my training in money management, risk taking & building assets.
Master The Mindset
Since we’re talking about assets, let’s talk about your biggest asset and that is you! One thing I have learned over the years is that you play a role in having an abundance mindset or a scarcity mindset. Often, I hear my prospective clients and even my friends say, “I just can’t afford it”, “I don’t have any money to do that”, or “I’ll never get ahead, since I have no money”. They don’t have money because of these crazy limiting beliefs and excuses around money.
Right after my first year of college, I made a decision to have a sports car by the time I was 21. I had no idea how it was going to happen since I needed to work part time just to pay for my tuition and rent. I worked two jobs (20 hrs/ week) while putting myself through school and I saved like crazy. When I turned 21, I started searching for my cherry red British TR6 and finally found one and paid $3500 cash (a lot at that time)!
Fast forward and many other great ‘risk taking’ things happened over the years and this is why I truly believe that anything is possible. My abundance mindset was why I never once said those phrases above. Keep believing in yourself and get help from all the great mentors out there.
Now, more than ever in this weird economy, we all need to step up, be brave and look at opportunities in a whole new way. Start with a bit of risk taking and then you’ll get more comfortable with it, so you can start to build assets.
I coach and mentor others on my wealth formula and I can tell you it doesn’t take that long to accumulate assets with the right strategy. Don’t hesitate to reach out to me for a discovery call so I can share my formula with you!
“And the day came when the risk to remain tight in a bud was more painful than the risk it took to blossom.” — Anais Nin
“Building your own business is the best way to become rich. Then you can begin investing in other assets.” – Robert Kiyosaki