The Lifestyle Investor - Investing, Passive Income, Wealth 018: The Psychology of Wealth with Mike Dillard
Today, I’m speaking with my friend Mike Dillard. Mike is an entrepreneur, online marketer, business coach, investor, author, and host of The Mike Dillard Show, which has been downloaded over 7 million times, and has been listed as one of the top 10 “must-listen” personal development podcasts in the world. Combined, his businesses have produced more than $50 Million in revenue without any outside funding!
While Mike has achieved enormous success, his life took a drastic turn at the age of 40. He experienced an unexpected brain injury and couldn’t work for two and a half years. During this time, he realized that he hadn’t built true passive income, but instead, a business that completely relied on his involvement in order to make money.
This was by far the darkest and most difficult time of Mike’s life. But through this challenge came a transformational change. When his business came crashing down in the blink of an eye, it helped him to see just how much of his identity and self-worth was tied to the money and results he had achieved.
In this episode, Mike shares how this health crisis completely shifted his mindset around money and success. You'll also learn about the powerful role that neurochemistry plays when it comes to building true wealth!
Key Takeaways
- How an unexpected brain injury stripped Mike from everything he built - and why it turned out to be a blessing in disguise.
- The importance of building true passive income.
- Understanding the neurochemical habits and addictions that are driving your investment decisions.
- The dangers of tying your self-worth to your net-worth.
- Why so many rich people are miserable.
- 3 factors to succeed with investing so you can build life-long passive income.
- How failing to understand neurochemistry makes it impossible to build true wealth.
- How Mike’s investments in cryptocurrency have paid off - and what he does to protect these investments from being hacked or stolen.
- Mike’s thoughts on UniSwap and why so many people in the crypto space are investing in DeFi.
- Mike's latest venture, RicherEveryDay.com - learn how to make $100,000 per month in passive investment income!
Want the Full Show Notes?
To get access to the full show notes, including audio, transcripts, and links to all the resources mentioned, visit JustinDonald.com/18
Get the Lifestyle Investor Book!
To get access to The Lifestyle Investor: The 10 Commandments of Cashflow Investing for Passive Income and Financial Freedom visit JustinDonald.com/book
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