Money is never the problem. If you dig deeper, it’s usually something else.
As incomes keep failing to keep up with the rise and rise of property prices, it is no wonder many first home buyers struggle to get together a big enough deposit to buy a home.
Are property prices currently too high? It depends who you ask. If you ask the rich, houses still seem affordable. In places like Remuera and Epsom, houses regularly go for above $1.6 million. Yet they are still selling like hot cakes.
If you ask people on lower incomes, getting into property is a lot harder.
In reality, money is not the problem. Perhaps the problem us many people have a lack of understanding of how to earn money and manage money. This creates a divide between those who have it and those who don’t. In the meantime while many first home buyers struggle to get together a big enough deposit to buy a home, other richlisters are thinking about making their next million.
One way to reduce the divide between those who have money and those who don/t is to educate people. Especially if you are working on a low skilled job, it’s difficult to earn money other than putting in more hours. The harder you work at a low paying job, the more tired you become (it just drains your energy) and you have even less spare time to think about your finances. So Grant Cardone,wrote a 44 page booklet called the Millionaire Booklet How to become Super Rich. You can read it in one sitting. No need to spend days and days reading. Its a small read but contains an essential message to those of you who want to be wealthy and get more out of life. If you want to know more, you can get Grant Cardone’s millionaire booklet for free.
If school did not teach you how to become wealthy, then you still have a chance. The millionaire booklet by Grant Cardone teaches you:
- the mindset of the rich,
- to focus on creating multiple sources of income (The rich don’t rely on one source of income. So why should you?). Get your advice from millionaires (It’s kinda true when Grant Cardone writes on page 11 of his Millionaire booklet that “part of the problem is that most get financial advice from people who are struggling with or who have given up on money … Look beyond all the noise about money and you will discover a select group of people who have created enormous wealth”. Your duty is to learn from these people rather than take financial advice from someone less successful.),
- to increase income (it’s nice how every financial advisor starts talking about what “assets” you should be investing in. But in reality, you need to have money to invest. Every financial adviser should start by trying to help you increase your income, and then to channel the extra earnings into the investments (most financial advisors treat income as fixed and cant be changed much like a budget. This messes with your financial mindset because it reinforces (subconsciously) that your income potential is fixed. In reality, you dont have to change jobs to get more income. When Grant Cardone was working for someone else earlier in his life, he took on more duties and responsibilities and created more income for himself.
- Have patience. In page 34, Grant Cardone talks about how he had studied real estate for FIVE years and only after looking at hundreds of apartment buildings, did he buy his first real estate investment. But it paid off. Years of safeguarding and building up his savings (not being too tempted to spend it) and staying focused on building up his existing businesses allowed him to purchase an investment that went on to generate him $5 million. The discipline, knowledge, and yes having saved money allowed him to get to where he is today. If there are no good investments, it’s ok to put it in an interest bearing account and continue searching for the right opportunity. With enough search and knowledge, you will eventually find the right opportunity to invest in.
- Few people know how to create enormous amounts of income. Even fewer know how to keep the income they generate. Grant Cardone is one of those few people who knows how to create income and hold onto it, invest it to create more wealth. Its Better to learn from the best than to learn from the rest.
The local government’s agenda should be trying to help more people become financially independent and wealthy. This would benefit the economy in the long run because businesses create jobs and attracts investments from overseas.
Instead of criticising the rich, critics need to learn from the rich and wealthy and how they got there. Because its true, rich people create jobs, start businesses, and contribute to the wealth of the economy. The rich help make a difference to the community and economy.
And people want to make a difference to their community. Like what Grant Cardone said, the only way to make a difference is if you have enough money to make a difference.