381: Is Financial Fear Stopping You from Living the Life You Dream Of?
BiggerPockets Money Podcast
BiggerPockets
4.6 • 2.9K Ratings
🗓️ 3 February 2023
⏱️ 48 minutes
🧾️ Download transcript
Summary
Knowing how to build wealth may come as a given for most investors. Buy assets, hold on to them, profit, and repeat. While this formula may seem simplistic at first glance, the emotional side behind investing is something rarely ever talked about. For those just starting to build wealth, wanting to become financially free, it can be anxiety-provoking tosacrifice most of your money for a single investment that could profit or end up failing. Rookie real estate investors constantly feel this fear before doing their first deal. But what about the fear of never moving forward?
Tamar Hermes grew up without much money, and for most of her life, she never felt she deserved to have a financial surplus. For Tamar, money was something tied to guilt, but she knew to become a self-made millionaire, she’d need to change her mindset. Now, she’s helping other investors, many of whom relate to Tamar’s “starting from zero" story, get their start by building passive-income-producing empires. If you want to repeat Tamar’s path, you’ll have to stick around!
In this episode, Tamar breaks down the simple ways anyone can start building wealth in 2023. She also hits on breaking past financial fear, building your money mindset, and why big goals should always be done in small steps, so you can hit your milestones faster than you think. 2023 is your year, and this is the best way to get started!
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In This Episode We Cover
Overcoming money fears and why so many of us don’t think we deserve wealth
Knowing your “worst-case scenario” and how it can set you free when investing
2023 goals and how to turn yours into bite-sized steps you can accomplish every day
Becoming the person you need to be to build wealth in 2023
What to do when your social circle/partner disagrees with your financially-free dreams
Pushing through “the grind” and why sacrifice is a prerequisite for success
Scott and Mindy’s simple 2023 steps that you can use to get on the right financial footing for this year
And So Much More!
Links from the Show
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Transcript
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| 0:00.0 | Welcome to the Bigger Packets Money Podcast where we interview Tamar Hermes and talk about shifting your money mindset and |
| 0:06.6 | removing limiting beliefs. |
| 0:08.6 | What I like to do is I like to chunk things down because when we think of I want to buy five properties this year |
| 0:15.7 | It's a lot. It's overwhelming. You'll be amazed how your mind works once you start |
| 0:22.0 | chunking things down and putting it in motion. Set a smaller goal. Set something that you can that's palatable |
| 0:27.7 | That you that you feel like you can reach hello. Hello. Hello. My name is Mindy Jensen and with me as always is my |
| 0:33.6 | Super Nerd co-host Scott Trent. Mindy a you know a neutron walked into a bar and |
| 0:40.0 | Said I think I've lost an electron and the bartender says are you sure and the neutron says I'm positive |
| 0:49.6 | I was trying to do some sort of sell joke because the girls are studying them and I'm like wait |
| 0:55.5 | Oh, what is that word again? But you were going there. That was a good joke. Scott. I love it |
| 1:01.0 | And yes, you are a super nerd and I say that in the most loving way possible |
| 1:05.6 | Scott and I are here to make financial independence less scary |
| 1:09.6 | Less just for somebody else to introduce you to every money story because we truly believe financial freedom is attainable for |
| 1:16.1 | Everyone no matter when or where you're starting |
| 1:18.7 | That's right. Whether you want to retire early and travel the world going to make big-time investments and assets like real estate |
| 1:23.4 | Start your own business or set effective |
| 1:27.0 | 2023 goals will help you reach your financial goals and get money out of the way so you can launch yourself towards those dreams |
| 1:32.2 | Scott I am super excited to bring in tomorrow her mace today |
| 1:35.8 | She is an author. She's a coach and she |
| 1:39.7 | grew up without any money and for the longest time she felt like she didn't deserve to have it and then |
| 1:47.5 | She changed her mind. She changed her mind set and now |
| 1:50.4 | She's got some of it. She's got quite a bit of it and she is here to share with you how to change your money mind set |
... |
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