4.3 • 602 Ratings
🗓️ 31 July 2015
⏱️ 35 minutes
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#42: As a child, were you taught a scarcity mindset?
Steering public policy through the White House and Congress may help future generations of American children be better-educated on finance.
Listen to this week’s show and learn:
02:18 You’re working 8+ hours a day for a job you’re not passionate about. Why not at least plan an escape hatch?
06:17 Did your parents tell you “Money doesn’t grow on trees” and “Who do you think we are, the Rockefellers?” Instead, Sharon reveals more constructive phrases.
08:32 As a child, did you learn to “save money” or “invest money?”
11:05 “Live below your means” reinforces a scarce mindset.
16:00 How to teach children about businesses.
17:33 Sharon Lechter on the value of a college education today.
24:50 Which President - Obama or Bush - would be more likely to calculate an apartment building cap rate? Sharon picks one!
25:11 Sharon on the power of real estate investing.
28:09 Sharon’s work with “Think and Grow Rich.”
Resources mentioned:
TheLandGeek.com/GRE and MidSouthHomeBuyers.com
Sharon’s resources: SharonLechter.com | Think and Grow Rich for Women | Board game: Thrive Time For Teens | LinkedIn-Success.com | MyJobChart.com
Visit our website at GetRichEducation.com to subscribe to our newsletter or see all Events.
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0:00.0 | Get Rich Education is brought to you by Mid-South Homebuyers and The Land Geek.com. |
0:08.0 | Welcome to Get Rich Education with Keith Weinhold, giving you information and ideas on the investment that has turned more ordinary people into |
0:21.4 | millionaires and billionaires than anything else and can provide you with more |
0:26.5 | wealth and happiness than you ever thought possible now here's your host |
0:31.4 | investor entrepreneur business owner and educator Keith Weinhold. |
0:40.4 | You're listening to Get Rich Education, Episode 42. |
0:44.9 | Welcome in. I'm your host, Keith Weinhold. |
0:47.6 | From my birthplace along the Schuylkill River in historic Pennsylvania to my home place |
0:52.3 | beneath the Chugatch Mountains in beautiful and pristine, |
0:55.4 | Anchorage, Alaska, and everywhere else in between, you're listening to the show that has |
1:00.5 | changed your mindset and the way you think about your future. You're helping me turn more |
1:06.5 | nobodies into somebodies than anybody, and I really appreciate that you're here. I'm back for |
1:13.1 | another week to ask, what can I do to improve your wealth? And today, perhaps even a more |
1:19.3 | relevant question is, what can you do to improve your children's wealth today at the same time? |
1:26.7 | Can you make them think about money in a way other than the |
1:29.3 | way that you thought about money when your parents raised you? How do you plant that abundance |
1:35.3 | mentality seed in others at a young age rather than the scarcity mentality seed that usually gets planted |
1:41.8 | and then never grows larger than a financial sprout. And you will get |
1:47.9 | great perspective whether you are a parent or not because you're going to think about your |
1:52.2 | upbringing and how that shapes your future choices. Now, I had an upbringing sprinkled with more |
1:59.5 | abundant mental fertilizer than most childhoods for sure, |
2:04.4 | but as a kid, I still heard some of those scarcity phrases that made me think twice in my decision-making. |
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