128: Five Money Myths That Are Killing Your Wealth Potential

Get Rich Education

Keith Weinhold

Realestateinvesting, Income, Passiveincome, Money, Business, Wealth, Investing, Careers, Realestate, Kiyosaki, Real, Rich, Creatingwealth

4.3 • 602 Ratings

🗓️ 24 March 2017

⏱️ 50 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

#128: These five money myths are killing your wealth potential.

Don’t believe: 1) Get your money to work for you. 2) Compound interest creates wealth. 3) Be debt-free. 4) Home equity has a rate of return. 5) Live below your means.

All five of the above are money mindset myths. If you believe them, you won’t create wealth.

Real estate investing cures all five money mindset myths.

Want more wealth? Visit GetRichEducation.com and 1) Subscribe to our free newsletter, and 2) Receive turnkey real estate investing opportunities.

Listen to this week’s show and learn:

02:07 Your brain is programmed to survive rather than thrive.

06:10 Why dispelling mindset myths is important.

10:46 Other people’s money.

16:23 Example of financial leverage.

17:39 Don’t be debt-free; be financially-free. Examples.

24:45 Inflation-hedging.

26:15 Compound Interest vs. Leverage.

28:41 “Millionaire.” Who cares?

31:12 Equity has zero rate of return. It’s unsafe and illiquid. Examples.

35:25 Equity transfers.

37:29 Should you pay off your primary residence?

39:26 Lawsuits.

40:28 Myth: “Live below your means.”

43:10 Don’t budget.

44:32 Question your answers.

45:49 The power of being bold.

Resources Mentioned:

PassiveRealEstateInvesting.com

NoradaRealEstate.com

TheRealAssetInvestor.com/GRE

HighlandsMortgage.com

MidSouthHomeBuyers.com

GetRichEducation.com

Transcript

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0:00.0	Get Rich Education is brought to you by Norata Real Estate, the Real Asset Investor, and Highlands residential mortgage.
0:08.5	Are you on track to achieve your financial goals? Income producing real estate is the most historically
0:13.3	proven way to accumulate wealth and has created more financial freedom than any other means.
0:18.7	Norata real estate provides everything you need to invest in the best turnkey cash flow rental properties. Our simple proven system will help you create real wealth and passive monthly income. Get your free strategy session with our knowledgeable investment counselors at Noradarrealestate.com. That's N-O-R-A-R-A-R-A-R-A-R-E-A-R-E-A-R-E-E-E-E-A-R-E-E-A-R-E-E-A-R-E-E-A-R-E-E-E-R-E-E-E-R-E-E-E-R-E-E-N-E-E-N-B-E-E-E-E-N-B-E-E-E-E-E ordinary people into millionaires and billionaires than anything else, and can provide you
0:56.0	with more wealth and happiness than you ever thought possible.
0:59.7	Now, here's your host, investor, entrepreneur, business owner, and educator Keith Weinhold.
1:10.2	You are inside GRE, Get Rich Education, episode 128.
1:15.3	I'm your host, Keith Weinhold, back to help you build your wealth, and I hope that you've
1:19.6	lived an abundant week.
1:21.4	GetRits Education is not the show for you if you want Amazon coupon codes to get half
1:26.9	off a four pack of toothpaste tubes or some
1:30.2	zero impact nonsense like that. So be prepared. This is what makes this show different. This
1:36.5	stuff today is a stuff that will make a real impact in your life. Sometimes people ask me how I got
1:42.8	so far ahead financially at such a young age.
1:47.0	Even among other real estate investors, I get asked this question.
1:50.3	And it's probably because I think about some things 180 degrees differently than most people.
1:57.3	They're kind of asking me like, come on, dude, how did you do this?
2:01.7	Well, we answered that question one way last week.
2:05.0	We're going to answer that in a different way today.
2:08.2	We all have a two million year old brain, and it's programmed to survive rather than thrive.
2:16.8	That's why it takes some more abundant training in order to
2:19.6	think differently and thrive. That's why you can listen to family and friends conventional
	...

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