The Money Podcast Are You Money Institutionalised? (LIVE)
We all have a perception of what we think is a lot of money, it’s ingrained in us over time and affects us when we’re making decisions. So what’s your money barometer set to? What’s your true worth? In order to answer the most revealing questions around money you need to understand it, you need to master it and you need to have the money mindset. In today’s episode of The Money Podcast, author of the best-selling book ‘Money’ Rob Moore takes you live to a behind the scenes money Q&A where he answers the real questions about money, wealth and mindset you need to know.
KEY TAKEAWAYS
- When you work in the public sector it’s ingrained in you that you have X amount of salary and X amount of tax and to double your income it may take you 20 years to rise up the career ladder. As a result you have a pre-set money thermostat because your career salary has set your barometer for your wealth and you get stuck at that amount even when you become an entrepreneur.
- You need to reset what you perceive as an amount of money. You need to adjust your mindset when it comes to money and you need to progressively increase what you ‘think’ is a lot of money and by doing this you will adjust your attitude towards money.
- Money institutionalization is a fixed mindset around money that you find hard to break
- You need to turn scarcity into abundance and reprogramme your mind to understand the abundance of money around you. The more you earn, the more less becomes normal.
- Surround yourself with like-minded individuals is key to having the right money mindset because the people you hang around with you become.
Basic money management - It’s vital to create layers and levels of wealth
- The hardcore foundational level of wealth is your assets. Tradable, physical assets such as Gold, Watches, Diamonds, etc. Assets have agility if currency devalues
- Cash, savings
- Liquid assets such as stocks, ISA’s and bounds. These may have a low appreciation value with flexibility to exit within a few days.
- Less liquid assets such as property with high returns and exits of around 100 days
- Companies and businesses with access to dividends and payments with the flexibility to exit within around 12-18 months.
- Risk assets such as volatile investments and JV partnerships. Risk of no-exit at all.
BEST MOMENTS
“There’s no limit on money other than the perceived limits you set yourself”
“Competitors help you innovate and bring traffic to your market place, without them, there is no market place”
“Don’t perceive competitors as taking your wealth, see them as compliments to your niche”
“How you perceive competition needs to change. Competition is accountability, innovation, growth, and motivation”
“It’s vital that you learn how to master money”
“Without Tony Robins, I’d do a third less business”
“It’s easier to go from 20million to 50million that it is to go from 0 to 20million”
VALUABLE RESOURCES
ABOUT THE HOST
Rob Moore is the host of the UK’s no. 1 business podcast “The Disruptive Entrepreneur,” and “The Money Podcast” as well as an entrepreneur, property investor, property educator, and holder of 3 world records for public speaking. He is also the author of 9 business books, 5 UK bestsellers, and the global bestseller, Life Leverage.
“If you don't risk anything, you risk everything”
CONTACT METHOD
Facebook - https://www.facebook.com/robmooreprogressive/?ref=br_rs
LinkedIn - https://uk.linkedin.com/in/robmoore1979