How To Go From a Scarcity To an Abundance Mindset. This changed my life.

[MattR82]

Been working a lot on this the last week. Really shocking to me to realise just how bad I was before even this beginning stage. Holy hell.

 

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[Tyler_Durden]

That post is incredibly helpful, thank you very much!
I did not know about money meditation but I will try it out. My Mindset needs to get better, that is what I realized after reading this.

 

[Likwid24]

From my coach:

5 books that will reset your mind for success

Relentless by Tim Grover

10X by Grant Cardone

Man Up by Bedros Keuilian

Atomic Habits by James Clear

Unstoppable by Craig Ballantyne

***
Put these on program repeat and cycle through them to build an Unstoppable Mindset for success, consistency, and persistence.

I still haven't read Relentless or Atomic Habits. They are next on my list after I go through Alex Hormozi's book a few times.

 

[Mike Ronin]

Thank you MJ. It really all started with your book and your forum. =)

This community really is like no other. Thank you for sharing your journey, and thank you MJ for creating the greatest business forum on the interwebs. The wisdom shared by you and the other greats here is incomparable.

I'm on an e-comm journey, building my business and learning from the amazing Jim Cockrum (Slient Sales Machine author) and his coaches. One of the things he says constantly is how having an abundance mindset is the key, along with doing life with others traveling on the same path. I couldn't agree more.

 

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[DavidePaco00]

This is an important topic that I see, but I don't see often enough.

I know I haven't been on the forum much lately, but I feel I need to post this. This was life changing for me and can be life changing for you.

Most of you may know me as The Paint Brush Cover guy that was on Shark Tank. I started posting in this forum over a decade ago when I started with an idea then documented step by step almost daily. It held me accountable while motivating myself, motivating others and also getting some great feedback and ideas from members.

Most of you also may know that I sold my share for almost nothing just to get out of a failing business due to a few factors such as a bad partner, inexperience and, most importantly, a scarcity mindset.

All was not lost though. Everyone fails. Some big. Some small. You learn through failing.

In this case, I failed my way to success and this failure specifically led me to the path of a total mindset change.

The most important thing is that I didn't give up. I knew I would one day become successful. I just needed to figure out how and thankfully I became very close with a fellow gym member (who is now one of my closest friends) and completely changed my mindset about money. This was the key to changing everything.

This mindset switch, made me much better at sales, better at marketing, better at advertising, better at networking, better managing. It changed everything.

And it all started with annoying friend, who is now one of my closest friends.

Before I met Gil, almost my entire network was made up of blood sucking mindset leaches. You can't do this, you can't do that, you can't make that much money, money is bad, just put a big chunk in your 401k and you'll be set, you'll have a pension when you retire, blah, blah, blah, blah blah.

I was getting sick of hearing it and new I needed to level up. That's around the time I started following Craig Ballantyne who always says "Your Network is Your Net Worth".

I understood what he meant at the time but not fully. Now, I completely get it.

I started to say to myself "I need to ditch these leaches and move up to the next level".

When I met Gil, he was a high end watch dealer. Very successful. Amazing at sales. the guy could literally sell anything. He was so good, that he became Alex Hormozi's "Sales Guru" for Gym Launch in the early days when we had partnered and opened several gyms together.

His thoughts about money were completely opposite mine. $30k a month was a bad month for him. At the time, I was dreaming of a $10k month and thought that would be life changing. If only I could get from $5k per month to $10k per month, I would have it made. I wouldn't need anything else.

At that time, I also had this insanely negative perception of sales. Like it was a bad thing.

I also didn't think I would ever have what it takes to make a million dollars. I would constantly have negative self talk in my head.

This was preventing me from succeeding. This was the only thing preventing me from succeeding.

I was spending a lot of time with Gil when we met. Doing CrossFit, running races, doing extreme stuff like skydiving and hang gliding. Even though we were on different levels financially, we got along pretty good.

Except, we would argue all the time about money and thoughts on money.

He called out my scarcity mindset right away. And at the time, I didn't realize how bad it was. He did. And now that I look back, I'm blown away by how bad it was.

He was set on changing that and eventually he succeeded.

He kept on drilling my on abundance mindset.


Misconception - There's never enough money.
Abundance Mindset - Money is a renewable resource. With the right strategies, mindset, and actions, I can always earn more.

Misconception - Others' success takes away from my own potential success.
Abundance Mindset - There's enough success for everyone. Another's success can serve as inspiration and does not diminish my opportunities.

Misconception - I have to hold onto every penny, or I'll run out.
Abundance Mindset - Smart investments and spending can lead to growth. I can allocate resources in ways that lead to further abundance. The way I think now is instead of saving more money, I make more money.

Misconception - Money is the root of all evil.
Abundance Mindset - Money is a tool. It's neither good nor evil in itself but can be used for positive or negative purposes depending on one's choices. There are many really good things you can do with money from as little to making a waiter happier with a bigger tip to making huge donations to your favorite charities.

Misconception - I don't deserve wealth or abundance. This one really got me.
Abundance Mindset - Everyone deserves abundance and prosperity. By aligning my mindset, skills, and actions, I can achieve financial success.

Misconception - Financial success is purely based on luck.
Abundance Mindset - While some elements of luck can be involved, hard work, strategy, and a positive attitude play significant roles in achieving financial success. One of my favorite sayings is "You create your own luck".

Misconception - It's selfish to desire more money. At first, i was embarrassed to be wealthier than all of my friends. You can bet that changed.
Abundance Mindset -Wanting more resources can lead to greater opportunities not just for oneself, but to help others and contribute to larger causes. If I have more money I can help more people.

Misconception - Money will solve all my problems.
Abundance Mindset - Money is a tool to help address challenges and facilitate experiences, but it's not the only solution. Inner happiness, relationships, and purpose play critical roles in a fulfilled life.

Misconception - People with money are greedy.
Abundance Mindset - Wealthy individuals can be just as diverse in character as any other group. Money amplifies who you already are; it doesn't inherently make someone greedy. Gil always said that more money just brings out your true character.

Misconception - There's a fixed pie of resources, and if someone gets more, others will get less.
Abundance Mindset - The world is abundant, and opportunities and resources can expand. Innovation, collaboration, and creativity can grow the pie for everyone.

Misconception - Selling is bad. All salesmen are snakes.
Abundance Mindset - selling is a really good thing. You're giving the person what they need or desire. Ex: weight loss, healthier lifestyle, I nice watch to help improve their status or improve the perception of their status.

Shifting from a scarcity to an abundance mindset doesn't mean being unrealistic or ignoring challenges. It's about focusing on possibilities, being proactive, and recognizing that with effort and the right strategies, growth and prosperity are achievable.

One day, it just clicked. I finally said "Gil. You're right".

I'm go to do anything i can to started thinking with an abundance mindset. I picked Gil's brain more. Didn't argue with him. I read books. Watched videos. I hired a mentor. Meditated.

Ian Stanley's money meditations really helped a lot.

More and more my mindset changed. More and more I got better at everything I did. More and more money flowed to me.

Fast forward to today, I own a branch of a private equity firm, helped 1000's of business owners with covid tax relief, have 10+ sales reps working for me, over 20+ affiliates under me and have made in the multiple 7 figures over the past 3 years.

I am now in the process of building something BIG.

Within the next year, I plan on having 20-30 sales reps and hundreds, if not thousands, of successful affiliates working under me.

With my new abundance mindset, the skys are the limit. I dream big and have been surpassing my lofty goals.

I recently set the biggest goal of my life to make 8 figures+ and plan on hitting that goal within 2 years.

I credit this to one single thing. One simple thing.

A Mindset change. That's all.

And It's not that difficult to do.

Start hanging out with people better than you. Find someone that makes more money than you. Become friends with them. Notice how differently they think about money.

Find a mentor like Craig Ballantyne, or Bedros Keullien.

Start listening to podcasts. Bedros is great. Alex Hormozi, Brad Lea, Ed Mylett. There are so many.

Listen to the Ian Stanley money meditations on Youtube.

Instead of saving money. Think of ways you can make more money, solve more problems, help more people.

Like I said earlier, I thought $10k a month would be life changing. That when I would be like "I really made it". Then I had a $10k month with my gyms. Then a $15k month. Then I thought "If only I can make $20k" blah blah. Then I had a $30k month. Then a $50k month. Them I made $40k in one day. Then $100k. Then $150k. It kept going.

This past summer I had a $250k+ month. Now, If I make under $100k in a month, my mind starts thinking wtf I did wrong. I didn't help enough people. I got lazy. etc.

My thought process completely changed and now the sky is the limit.

I think this is very important for young entrepreneurs to hear because I don't hear it enough and it can very well be the one thing missing to get you to the top like it was for me.

Thank You, I took a note of every person you named , and I'm going to study their work

 

[CardinalFlame]

This is an important topic that I see, but I don't see often enough.

I know I haven't been on the forum much lately, but I feel I need to post this. This was life changing for me and can be life changing for you.

Most of you may know me as The Paint Brush Cover guy that was on Shark Tank. I started posting in this forum over a decade ago when I started with an idea then documented step by step almost daily. It held me accountable while motivating myself, motivating others and also getting some great feedback and ideas from members.

Most of you also may know that I sold my share for almost nothing just to get out of a failing business due to a few factors such as a bad partner, inexperience and, most importantly, a scarcity mindset.

All was not lost though. Everyone fails. Some big. Some small. You learn through failing.

In this case, I failed my way to success and this failure specifically led me to the path of a total mindset change.

The most important thing is that I didn't give up. I knew I would one day become successful. I just needed to figure out how and thankfully I became very close with a fellow gym member (who is now one of my closest friends) and completely changed my mindset about money. This was the key to changing everything.

This mindset switch, made me much better at sales, better at marketing, better at advertising, better at networking, better managing. It changed everything.

And it all started with annoying friend, who is now one of my closest friends.

Before I met Gil, almost my entire network was made up of blood sucking mindset leaches. You can't do this, you can't do that, you can't make that much money, money is bad, just put a big chunk in your 401k and you'll be set, you'll have a pension when you retire, blah, blah, blah, blah blah.

I was getting sick of hearing it and new I needed to level up. That's around the time I started following Craig Ballantyne who always says "Your Network is Your Net Worth".

I understood what he meant at the time but not fully. Now, I completely get it.

I started to say to myself "I need to ditch these leaches and move up to the next level".

When I met Gil, he was a high end watch dealer. Very successful. Amazing at sales. the guy could literally sell anything. He was so good, that he became Alex Hormozi's "Sales Guru" for Gym Launch in the early days when we had partnered and opened several gyms together.

His thoughts about money were completely opposite mine. $30k a month was a bad month for him. At the time, I was dreaming of a $10k month and thought that would be life changing. If only I could get from $5k per month to $10k per month, I would have it made. I wouldn't need anything else.

At that time, I also had this insanely negative perception of sales. Like it was a bad thing.

I also didn't think I would ever have what it takes to make a million dollars. I would constantly have negative self talk in my head.

This was preventing me from succeeding. This was the only thing preventing me from succeeding.

I was spending a lot of time with Gil when we met. Doing CrossFit, running races, doing extreme stuff like skydiving and hang gliding. Even though we were on different levels financially, we got along pretty good.

Except, we would argue all the time about money and thoughts on money.

He called out my scarcity mindset right away. And at the time, I didn't realize how bad it was. He did. And now that I look back, I'm blown away by how bad it was.

He was set on changing that and eventually he succeeded.

He kept on drilling my on abundance mindset.


Misconception - There's never enough money.
Abundance Mindset - Money is a renewable resource. With the right strategies, mindset, and actions, I can always earn more.

Misconception - Others' success takes away from my own potential success.
Abundance Mindset - There's enough success for everyone. Another's success can serve as inspiration and does not diminish my opportunities.

Misconception - I have to hold onto every penny, or I'll run out.
Abundance Mindset - Smart investments and spending can lead to growth. I can allocate resources in ways that lead to further abundance. The way I think now is instead of saving more money, I make more money.

Misconception - Money is the root of all evil.
Abundance Mindset - Money is a tool. It's neither good nor evil in itself but can be used for positive or negative purposes depending on one's choices. There are many really good things you can do with money from as little to making a waiter happier with a bigger tip to making huge donations to your favorite charities.

Misconception - I don't deserve wealth or abundance. This one really got me.
Abundance Mindset - Everyone deserves abundance and prosperity. By aligning my mindset, skills, and actions, I can achieve financial success.

Misconception - Financial success is purely based on luck.
Abundance Mindset - While some elements of luck can be involved, hard work, strategy, and a positive attitude play significant roles in achieving financial success. One of my favorite sayings is "You create your own luck".

Misconception - It's selfish to desire more money. At first, i was embarrassed to be wealthier than all of my friends. You can bet that changed.
Abundance Mindset -Wanting more resources can lead to greater opportunities not just for oneself, but to help others and contribute to larger causes. If I have more money I can help more people.

Misconception - Money will solve all my problems.
Abundance Mindset - Money is a tool to help address challenges and facilitate experiences, but it's not the only solution. Inner happiness, relationships, and purpose play critical roles in a fulfilled life.

Misconception - People with money are greedy.
Abundance Mindset - Wealthy individuals can be just as diverse in character as any other group. Money amplifies who you already are; it doesn't inherently make someone greedy. Gil always said that more money just brings out your true character.

Misconception - There's a fixed pie of resources, and if someone gets more, others will get less.
Abundance Mindset - The world is abundant, and opportunities and resources can expand. Innovation, collaboration, and creativity can grow the pie for everyone.

Misconception - Selling is bad. All salesmen are snakes.
Abundance Mindset - selling is a really good thing. You're giving the person what they need or desire. Ex: weight loss, healthier lifestyle, I nice watch to help improve their status or improve the perception of their status.

Shifting from a scarcity to an abundance mindset doesn't mean being unrealistic or ignoring challenges. It's about focusing on possibilities, being proactive, and recognizing that with effort and the right strategies, growth and prosperity are achievable.

One day, it just clicked. I finally said "Gil. You're right".

I'm go to do anything i can to started thinking with an abundance mindset. I picked Gil's brain more. Didn't argue with him. I read books. Watched videos. I hired a mentor. Meditated.

Ian Stanley's money meditations really helped a lot.

More and more my mindset changed. More and more I got better at everything I did. More and more money flowed to me.

Fast forward to today, I own a branch of a private equity firm, helped 1000's of business owners with covid tax relief, have 10+ sales reps working for me, over 20+ affiliates under me and have made in the multiple 7 figures over the past 3 years.

I am now in the process of building something BIG.

Within the next year, I plan on having 20-30 sales reps and hundreds, if not thousands, of successful affiliates working under me.

With my new abundance mindset, the skys are the limit. I dream big and have been surpassing my lofty goals.

I recently set the biggest goal of my life to make 8 figures+ and plan on hitting that goal within 2 years.

I credit this to one single thing. One simple thing.

A Mindset change. That's all.

And It's not that difficult to do.

Start hanging out with people better than you. Find someone that makes more money than you. Become friends with them. Notice how differently they think about money.

Find a mentor like Craig Ballantyne, or Bedros Keullien.

Start listening to podcasts. Bedros is great. Alex Hormozi, Brad Lea, Ed Mylett. There are so many.

Listen to the Ian Stanley money meditations on Youtube.

Instead of saving money. Think of ways you can make more money, solve more problems, help more people.

Like I said earlier, I thought $10k a month would be life changing. That when I would be like "I really made it". Then I had a $10k month with my gyms. Then a $15k month. Then I thought "If only I can make $20k" blah blah. Then I had a $30k month. Then a $50k month. Them I made $40k in one day. Then $100k. Then $150k. It kept going.

This past summer I had a $250k+ month. Now, If I make under $100k in a month, my mind starts thinking wtf I did wrong. I didn't help enough people. I got lazy. etc.

My thought process completely changed and now the sky is the limit.

I think this is very important for young entrepreneurs to hear because I don't hear it enough and it can very well be the one thing missing to get you to the top like it was for me.

Thanks for sharing part of your journey. Mindset is everything. You can have the best ideas and the skills to bring them to life but if you aren't motivated or driven enough to actually do things, you will go nowhere. We all have ups and down, cycles of a great mindset and cycles of a poor mindset. It is inevitable, its the duality of being. The difference is how long you choose to stay in each cycle. This is food for those in a down cycle, thanks for sharing!!

 

[Roli]

Yes because it’s literally the opposite of the title of this thread. In your mind there are not enough homes or money for everyone.


So the person bought it and improved it and resold it. What’s wrong with that?


The home is the same. It’s still a house. I don’t understand your point here. I have no idea if the person that paid $1.4m is living there or not.

Are you saying the home should have stayed at $900k? Is the person that bought and flipped at $1.4m the bad guy? Or is it the person that paid $1.4m?


FYI, there’s no way the person that paid $1.4m is making a good ROI on the home. That home would prob rent for $7000/mo.

Like I said, unpopular opinion, but I'm not afraid of voicing unpopular opinions. I stand by what I said, in roughly 30 years of being an adult, I have seen house prices rocket at roughly the same rate as homelessness.

Did you see that viral video of that Canadian woman going round? She is on a decent six-figure salary and can't afford to live in her city any more.

So my point is people need places to live and if prices keep rocketing way past what people can afford, the amount people have to earn just to live somewhere half-decent becomes astronomical. For example, in the UK where I live, in 1969, three years before I was born, the average house price was £4000 and the average wage was £1600, about 2.5 times earnings. This means you could save half your pay packet for four years and buy a house for cash. Or as most people did in those days, save for two years and then get a mortgage.

Now the average house price is £280,000 and the average wage is £33,000, eight times earnings and the average rent is about one-third earnings. So your chance of buying a house on average earnings is now no longer possible.

If I had a magic button, the two areas off limits for capitalistic runaway profits, would be the housing and medical industries. Some things are more (or at least should be) important than profit.

 

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[Roli]

I knew that before I even read your post, based on your body of commentary posted here over the years.

That surprises me to hear you say that. I have a few gold and notable posts, so it's weird why you'd say that.

In short, his post was meant for you. But you immediately dismissed it, as expected.

I didn't dismiss it, I read it and formed an opinion. I have opinions and I'm not scared to voice them, if that upsets people, oh well.

You're committed to being a victim, to not changing anything in your headspace, while...

Not true, I just have an opinion on the housing market.

Anyway, you are entitled to your opinion, as I am to mine.

 

[Kevin88660]

Like I said, unpopular opinion, but I'm not afraid of voicing unpopular opinions. I stand by what I said, in roughly 30 years of being an adult, I have seen house prices rocket at roughly the same rate as homelessness.

Did you see that viral video of that Canadian woman going round? She is on a decent six-figure salary and can't afford to live in her city any more.

So my point is people need places to live and if prices keep rocketing way past what people can afford, the amount people have to earn just to live somewhere half-decent becomes astronomical. For example, in the UK where I live, in 1969, three years before I was born, the average house price was £4000 and the average wage was £1600, about 2.5 times earnings. This means you could save half your pay packet for four years and buy a house for cash. Or as most people did in those days, save for two years and then get a mortgage.

Now the average house price is £280,000 and the average wage is £33,000, eight times earnings and the average rent is about one-third earnings. So your chance of buying a house on average earnings is now no longer possible.

If I had a magic button, the two areas off limits for capitalistic runaway profits, would be the housing and medical industries. Some things are more (or at least should be) important than profit.

I think it is just mainly wages getting stagnant in real terms, and the cost of construction getting shoot up during the pandemic.

It is a matter of political will. You don’t need Chinese social policies. Just outsource to Chinese construction companies building dense apartments on public land.

 

[MJ DeMarco]

Like I said, unpopular opinion

Actually it is a popular opinion that embraces culture's victim-hood and their scarcity mindset, just like 99% of society. Sadly, you sound no different than them. Your opinion is only unpopular here because your surrounded by people with growth mindsets, and people who refuse to be victims.

Not true, I just have an opinion on the housing market.

This thread isn't about the housing market. No one here is arguing that home prices have gotten expensive, so you're right!

This thread is about the mental prisons we give ourselves, namely the prison of a scarcity mindset and the belief that money isn't abundant.

Your "opinion" is a product of your mental prison, not that housing is expensive (TRUE) but that you'll never afford a house (also TRUE due to your scarcity mindset).

Worse, your solutions are likely centered not in that of yourself (again, a lack of agency) but in political, coercive power. The CCP and their policies? WTF am I reading here? And yet, you likely will vote for the same politicians who are responsible for the inflationary disaster while blaming capitalism, not your government (and mine) who continue reckless policies of printing money and increased spending.

Your mental prison validates that you're a victim, and that money is scarce, and that you can never afford a house, and neither will your daughter. And unfortunately, that's true -- not because of the inflationary housing prices you correctly cite, but because you believe you have no power to change it.

SCARCITY: Money is scarce and I'll never afford a house.

This mentality is exactly what this thread exposes, and you are its target.

Instead, it flew right over your head.

ABUNDANCE: Right now housing is expensive and I can't afford a house, but someday I will because money is abundant and I know if I deliver enough value to my fellow humans, one day I will be able to buy whatever I want.

One mentality is demonstrates scarcity and defeatism.
The other demonstrates abundance and hope.

Even when I was broke, I possessed the latter outlook; I knew one day money wouldn't be an issue.

We both share the same opinion on expensive housing.

But we don't share the same opinion on the solution.

• My solution comes from an growth/abundance mindset and is within my power.
• Your solution comes from a fixed/scarcity mindset and is within the power of others.

It actually is profoundly simple.

I don't expect you to change your ways much less agree, but I do hope someone else who reads this does.

 

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[Likwid24]

@MJ DeMarco I was literally about to say almost the same exact thing.

@Roli This post was intended for people with EXACTLY your mentality. There is ZERO you can do about the cost of housing. I agree. Housing prices are insane. I'm looking to buy a new house now and can't see myself paying these outrageous prices for nothing.

But there's nothing I can do about that.

What I can do is MAKE MORE MONEY. This is where the abundance mindset comes in. I control what I can control and don't worry about what I can't control.

The one part I can control is making more money and that's exactly what I am doing.

Years ago I had the same exact mindset as you. Thank god I had the right guidance and everything changed. It's amazing to know that if I go into a store, I can buy anything I want without it affecting my pocket, or I can make a large donation to a charity, or I can spend $20k on a vacation - several times a year!

I do despise the rising prices in housing. But I don't dwell on that. My only thought is to do better.

You have all of the right guidance here. It's up to you to use it.

I highly recommend taking some suggestions ion this thread and working on them. Do this for a year then come back to this post a year from now and tell me what you think.

 

[biophase]

unless my 12-year-old grows up to be a deca-millionaire, or I manage to buy a house and leave it to her, there is zero chance she'll be able to afford a house.

What is sad is that your views will shape your daughter’s thoughts. You just don’t realize what you’re doing.

When I was 8 my mom made me take piano lessons. She said, I wish we could have afforded piano lessons when I was a kid. Then I’d say, then why don’t you take the lessons then instead of me. She said, I’m told old to learn piano. You need to learn it at a young age.

Of course, being 8, I believed her. Looking back, when I was 8, she was 40. Can you imagine thinking you can’t learn an instrument at 40 because you’re too old?

What if I grew up believing that?

Who knows what other limiting beliefs your daughter is getting from you. I guess she thinks she will never be able to buy a house.

You’re the parent that tells their kid that they will never be able to get a Lambo because those cars are only for “rich” people.

Remember this is not about the price of real estate or money. This about the thoughts in your head on what you can and cannot achieve.

 

[BizyDad]

Unpopular opinion incoming...

Whilst it's great for profit, what you described is the cancer that is killing the Western world, unless my 12-year-old grows up to be a deca-millionaire, or I manage to buy a house and leave it to her, there is zero chance she'll be able to afford a house.

There are entire neighbourhoods in London owned by French bankers and Russian oligarchs, none of the houses are occupied and are constantly up for sale, whereby new owners do exactly what you describe above.

It's the most detrimental element of capitalism, homes disappear and in their place property springs up, The difference being one is for living in and the other an investment vehicle.

I don't usually agree with Chinese social policies, but the one I think they've got right, is the restriction they put on second homeowners, you can't charge more than 10% of your mortgage in rent, therefore people don't buy to rent, which keeps the property prices down and normal people can afford to live in places bigger than a shoebox.

I told this story a couple of times on the forum. And Ben Franklin's autobiography he talks about a friend of his but he knew living in Philadelphia. Don't hold me to these details, feel free to read the book for yourself. It's been years since I read it, but I believe what I'm about to say is generally true.

When Ben was going to buy his first house, his friend cautioned him to wait. Housing prices were skyrocketing, this was completely ridiculous. Be smart and buy on the dip.

Some years later another friend of theirs was buying a house, and this same friend gave the same advice. Prices were unsustainable. No way the growth would keep up.

The guy waited 20 years to buy his first home. By that point, Ben's house had more than tripled in value. Of course Ben shares this as a cautionary tale.

When I read that some years ago it really opened my eyes. I was living in Phoenix at the time, and I was surrounded by people who were having the same exact debates 300 years later.

I think about how I grew up in the '80s, interest rates were in the double digits. Stagflation was a term regularly mentioned on the news. That also was apparently a bad time to buy houses. That also was a time where people bought houses.

And here we are, 40 to 300 years later and people are still saying the same things.

There are always naysayers. There are always reasons not to do things.

Much like Ben's friend, you can choose to be the smarter person. Doesn't mean you're making the right choice. It doesn't even mean that you're seeing the world clearly.

there is zero chance she'll be able to afford a house.

Why?

I don't usually agree with Chinese social policies, but the one I think they've got right, is the restriction they put on second homeowners, you can't charge more than 10% of your mortgage in rent, therefore people don't buy to rent, which keeps the property prices down and normal people can afford to live in places bigger than a shoebox.

I did some light fact checking. Shanghai real estate prices seem comparable to major western cities. (There's so many different ways to look at this, I didn't want to drive down the rabbit hole deeply).

But if this headline is true, then I'm not sure these policies are really doing what you say...

Chinese investors are reconsidering real estate as a means of savings | Fortune

Homes are de facto retirement funds in China. It was a lucrative strategy—until recently.

fortune.com

Regardless, if your daughter can't afford to live in London, then don't live in London.

Why can’t you be the one to take care of that burden for your daughter?

Why would he deprive his daughter of the motivation to do it herself? The joy of having accomplished it on her own?

It sounds nice to just hand things to your children, until you end up with spoiled children who expect you to always hand things to them.

 

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[Roli]

Cool, noted. Thank you for your replies everyone.

 

[Cano]

there is zero chance she'll be able to afford a house.

What is sad is that your views will shape your daughter’s thoughts. You just don’t realize what you’re doing.

Sadly im hearing this so often from parents, customers & family members.

Telling their children or talking with other parents about how impossible it is for them to ever buy a house.

Its scary that they will take this mindset through their life.

I see clear the problem with this and thanks a lot for pointing it out guys.

 

[Lyzmin]

What is sad is that your views will shape your daughter’s thoughts. You just don’t realize what you’re doing.

So so true.

As a kid I always wanted to be a professional football player. I worked hard and scouts told me I had the potential.

My parents on the other hand told me everyday that the chance would be closer to 0. Only one in a million make it bla bla.. go to school, get a job bla bla..

I never really went for it. I believed their opinions and it became my reality. Only big regret I have in my life.

 

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[Jrjohnny]

Why would he deprive his daughter of the motivation to do it herself? The joy of having accomplished it on her own?

It sounds nice to just hand things to your children, until you end up with spoiled children who expect you to always hand things to them.

Valid, I mean like what if she really can’t?

If she burnt out trying to or lost motivation, you can give her a little boost.

What are you going to do if your daughter needs help but can’t get help since you didn’t really think ahead.

What I would do is

I would let my daughter try and try again, if it messes with her mental or physical health, I’ll give her a little boost.

Just my opinion and it might be a bit off since I’m still really young, but that’s what I would do.

So take my opinion with a grain of salt.

 

[MJ DeMarco]

So so true.

As a kid I always wanted to be a professional football player. I worked hard and scouts told me I had the potential.

My parents on the other hand told me everyday that the chance would be closer to 0. Only one in a million make it bla bla.. go to school, get a job bla bla..

I never really went for it. I believed their opinions and it became my reality. Only big regret I have in my life.

Wow, heartbreaking. Even worse, if you gave it your all and just came up short, you can be at peace that you tried with no regrets.

 

[Antifragile]

Unpopular opinion incoming...

Whilst it's great for profit, what you described is the cancer that is killing the Western world, unless my 12-year-old grows up to be a deca-millionaire, or I manage to buy a house and leave it to her, there is zero chance she'll be able to afford a house.

There are entire neighbourhoods in London owned by French bankers and Russian oligarchs, none of the houses are occupied and are constantly up for sale, whereby new owners do exactly what you describe above.

It's the most detrimental element of capitalism, homes disappear and in their place property springs up, The difference being one is for living in and the other an investment vehicle.

I don't usually agree with Chinese social policies, but the one I think they've got right, is the restriction they put on second homeowners, you can't charge more than 10% of your mortgage in rent, therefore people don't buy to rent, which keeps the property prices down and normal people can afford to live in places bigger than a shoebox.

@MJ DeMarco nailed it already on the mindset.

Allow me to add a personal example. I was told 20+ years ago that coming to Vancouver Canada (one of the most expensive cities in the world!) was a mistake. I had nothing. And this place was meant for people who were already rich. It was unaffordable and I should have picked a more “suitable location to my situation”. I heard “this is a great place to go, let’s go and figure it out”.

The difference between money and prestige.

Money = unlimited. The more people you help, the more you help them, the more $$ you make.

Prestige = limited. By definition there can only be one president of the USA, can only be one richest person on your street, richest friend etc.

Money / wealth are not prestige, wealth is about freedom. Once you start chasing prestige, you want to outshine your ____. That’s a losing game and most people who write like you confuse prestige with wealth.

There simply isn’t any limit to wealth.

 

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[BizyDad]

Valid, I mean like what if she really can’t?

If she burnt out trying to or lost motivation, you can give her a little boost.

What are you going to do if your daughter needs help but can’t get help since you didn’t really think ahead.

What I would do is

I would let my daughter try and try again, if it messes with her mental or physical health, I’ll give her a little boost.

Just my opinion and it might be a bit off since I’m still really young, but that’s what I would do.

So take my opinion with a grain of salt.

1. None of this changes my point.
2. In this case your "give her a little boost" is helping her buy a freaking house. Putting aside how ridiculous that sounds to me, if she doesn't have the responsibility to get the house herself, what makes you think she has the responsibility to be able to keep that house?
3. Some of your contributions on the forum are incredible, especially for a 13 yr old, but really for anyone. And some really sound like a 13 year old. I'm asking you to consider which ones are which and tone down the "I'm just a 13 year old sharing my opinions". Sharing opinions is what's done on social media. Sharing value is what we do here.

But hey, I'm just a forum member, so maybe you don't need to listen to me either. Lol.

 

[Jrjohnny]

3. Some of your contributions on the forum are incredible, especially for a 13 yr old, but really for anyone. And some really sound like a 13 year old. I'm asking you to consider which ones are which and tone down the "I'm just a 13 year old sharing my opinions". Sharing opinions is what's done on social media. Sharing value is what we do here.

But hey, I'm just a forum member, so maybe you don't need to listen to me either. Lol.

By opinion I meant my very valuable insights on this very elegant subject, oui oui

 

[CYRUS PR]

This is an important topic that I see, but I don't see often enough.

I know I haven't been on the forum much lately, but I feel I need to post this. This was life changing for me and can be life changing for you.

Most of you may know me as The Paint Brush Cover guy that was on Shark Tank. I started posting in this forum over a decade ago when I started with an idea then documented step by step almost daily. It held me accountable while motivating myself, motivating others and also getting some great feedback and ideas from members.

Most of you also may know that I sold my share for almost nothing just to get out of a failing business due to a few factors such as a bad partner, inexperience and, most importantly, a scarcity mindset.

All was not lost though. Everyone fails. Some big. Some small. You learn through failing.

In this case, I failed my way to success and this failure specifically led me to the path of a total mindset change.

The most important thing is that I didn't give up. I knew I would one day become successful. I just needed to figure out how and thankfully I became very close with a fellow gym member (who is now one of my closest friends) and completely changed my mindset about money. This was the key to changing everything.

This mindset switch, made me much better at sales, better at marketing, better at advertising, better at networking, better managing. It changed everything.

And it all started with annoying friend, who is now one of my closest friends.

Before I met Gil, almost my entire network was made up of blood sucking mindset leaches. You can't do this, you can't do that, you can't make that much money, money is bad, just put a big chunk in your 401k and you'll be set, you'll have a pension when you retire, blah, blah, blah, blah blah.

I was getting sick of hearing it and new I needed to level up. That's around the time I started following Craig Ballantyne who always says "Your Network is Your Net Worth".

I understood what he meant at the time but not fully. Now, I completely get it.

I started to say to myself "I need to ditch these leaches and move up to the next level".

When I met Gil, he was a high end watch dealer. Very successful. Amazing at sales. the guy could literally sell anything. He was so good, that he became Alex Hormozi's "Sales Guru" for Gym Launch in the early days when we had partnered and opened several gyms together.

His thoughts about money were completely opposite mine. $30k a month was a bad month for him. At the time, I was dreaming of a $10k month and thought that would be life changing. If only I could get from $5k per month to $10k per month, I would have it made. I wouldn't need anything else.

At that time, I also had this insanely negative perception of sales. Like it was a bad thing.

I also didn't think I would ever have what it takes to make a million dollars. I would constantly have negative self talk in my head.

This was preventing me from succeeding. This was the only thing preventing me from succeeding.

I was spending a lot of time with Gil when we met. Doing CrossFit, running races, doing extreme stuff like skydiving and hang gliding. Even though we were on different levels financially, we got along pretty good.

Except, we would argue all the time about money and thoughts on money.

He called out my scarcity mindset right away. And at the time, I didn't realize how bad it was. He did. And now that I look back, I'm blown away by how bad it was.

He was set on changing that and eventually he succeeded.

He kept on drilling my on abundance mindset.


Misconception - There's never enough money.
Abundance Mindset - Money is a renewable resource. With the right strategies, mindset, and actions, I can always earn more.

Misconception - Others' success takes away from my own potential success.
Abundance Mindset - There's enough success for everyone. Another's success can serve as inspiration and does not diminish my opportunities.

Misconception - I have to hold onto every penny, or I'll run out.
Abundance Mindset - Smart investments and spending can lead to growth. I can allocate resources in ways that lead to further abundance. The way I think now is instead of saving more money, I make more money.

Misconception - Money is the root of all evil.
Abundance Mindset - Money is a tool. It's neither good nor evil in itself but can be used for positive or negative purposes depending on one's choices. There are many really good things you can do with money from as little to making a waiter happier with a bigger tip to making huge donations to your favorite charities.

Misconception - I don't deserve wealth or abundance. This one really got me.
Abundance Mindset - Everyone deserves abundance and prosperity. By aligning my mindset, skills, and actions, I can achieve financial success.

Misconception - Financial success is purely based on luck.
Abundance Mindset - While some elements of luck can be involved, hard work, strategy, and a positive attitude play significant roles in achieving financial success. One of my favorite sayings is "You create your own luck".

Misconception - It's selfish to desire more money. At first, i was embarrassed to be wealthier than all of my friends. You can bet that changed.
Abundance Mindset -Wanting more resources can lead to greater opportunities not just for oneself, but to help others and contribute to larger causes. If I have more money I can help more people.

Misconception - Money will solve all my problems.
Abundance Mindset - Money is a tool to help address challenges and facilitate experiences, but it's not the only solution. Inner happiness, relationships, and purpose play critical roles in a fulfilled life.

Misconception - People with money are greedy.
Abundance Mindset - Wealthy individuals can be just as diverse in character as any other group. Money amplifies who you already are; it doesn't inherently make someone greedy. Gil always said that more money just brings out your true character.

Misconception - There's a fixed pie of resources, and if someone gets more, others will get less.
Abundance Mindset - The world is abundant, and opportunities and resources can expand. Innovation, collaboration, and creativity can grow the pie for everyone.

Misconception - Selling is bad. All salesmen are snakes.
Abundance Mindset - selling is a really good thing. You're giving the person what they need or desire. Ex: weight loss, healthier lifestyle, I nice watch to help improve their status or improve the perception of their status.

Shifting from a scarcity to an abundance mindset doesn't mean being unrealistic or ignoring challenges. It's about focusing on possibilities, being proactive, and recognizing that with effort and the right strategies, growth and prosperity are achievable.

One day, it just clicked. I finally said "Gil. You're right".

I'm go to do anything i can to started thinking with an abundance mindset. I picked Gil's brain more. Didn't argue with him. I read books. Watched videos. I hired a mentor. Meditated.

Ian Stanley's money meditations really helped a lot.

More and more my mindset changed. More and more I got better at everything I did. More and more money flowed to me.

Fast forward to today, I own a branch of a private equity firm, helped 1000's of business owners with covid tax relief, have 10+ sales reps working for me, over 20+ affiliates under me and have made in the multiple 7 figures over the past 3 years.

I am now in the process of building something BIG.

Within the next year, I plan on having 20-30 sales reps and hundreds, if not thousands, of successful affiliates working under me.

With my new abundance mindset, the skys are the limit. I dream big and have been surpassing my lofty goals.

I recently set the biggest goal of my life to make 8 figures+ and plan on hitting that goal within 2 years.

I credit this to one single thing. One simple thing.

A Mindset change. That's all.

And It's not that difficult to do.

Start hanging out with people better than you. Find someone that makes more money than you. Become friends with them. Notice how differently they think about money.

Find a mentor like Craig Ballantyne, or Bedros Keullien.

Start listening to podcasts. Bedros is great. Alex Hormozi, Brad Lea, Ed Mylett. There are so many.

Listen to the Ian Stanley money meditations on Youtube.

Instead of saving money. Think of ways you can make more money, solve more problems, help more people.

Like I said earlier, I thought $10k a month would be life changing. That when I would be like "I really made it". Then I had a $10k month with my gyms. Then a $15k month. Then I thought "If only I can make $20k" blah blah. Then I had a $30k month. Then a $50k month. Them I made $40k in one day. Then $100k. Then $150k. It kept going.

This past summer I had a $250k+ month. Now, If I make under $100k in a month, my mind starts thinking wtf I did wrong. I didn't help enough people. I got lazy. etc.

My thought process completely changed and now the sky is the limit.

I think this is very important for young entrepreneurs to hear because I don't hear it enough and it can very well be the one thing missing to get you to the top like it was for me.

Thank you for writing this.

Mindset is everything.

Good Thoughts -> Good Words -> Good Deeds.

 

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[Subsonic]

Like I said, unpopular opinion, but I'm not afraid of voicing unpopular opinions. I stand by what I said, in roughly 30 years of being an adult, I have seen house prices rocket at roughly the same rate as homelessness.

Did you see that viral video of that Canadian woman going round? She is on a decent six-figure salary and can't afford to live in her city any more.

So my point is people need places to live and if prices keep rocketing way past what people can afford, the amount people have to earn just to live somewhere half-decent becomes astronomical. For example, in the UK where I live, in 1969, three years before I was born, the average house price was £4000 and the average wage was £1600, about 2.5 times earnings. This means you could save half your pay packet for four years and buy a house for cash. Or as most people did in those days, save for two years and then get a mortgage.

Now the average house price is £280,000 and the average wage is £33,000, eight times earnings and the average rent is about one-third earnings. So your chance of buying a house on average earnings is now no longer possible.

If I had a magic button, the two areas off limits for capitalistic runaway profits, would be the housing and medical industries. Some things are more (or at least should be) important than profit.

I like how this all comes from the real cancer in western society: Entitlement.

Houses get more expensive because the value of not having to sleep on the street is extremely high. Medicine is expensive because guess what, people value their life (at least when confronted with death).

People always talk about how great it was "back then". Back then, rape was legal in marriage, getting sick meant playing blackjack for your life with the grim reaper and dying of starvation was a real risk for people.

The fallacy of this comment is that someone inherently "deserves" housing or healthcare just because they are a living human. If someone deserves a house, why don't they also deserve food. If they deserve food, why don't they deserve a car and a wife and children and free time and BOOM. We have entered communism. Mind you, communism would be a great thing to live in, if it worked like it's intended to work. No government, no politics, no money, no economy, just people working together to make each other a good life.
The reality is that nobody deserves anything. I live in Germany, where healthcare is free, and you get government housing if you're too poor to pay rent. I don't deserve this.


If I had to point to an economic cancer, it would be speculation. Wheat, houses and whatever else is getting used as tokens in a massive game of blackjack, played by Wall Street and the other stock exchanges. It's completely pointless to have houses stay empty to increase their value if you're a regular investor. But if you're a hedge fund billionaire with 10x leverage then you can borrow a lot of money against that inflated real estate portfolio, or just brag with your paper money.

Its late and I didnt have a lot of sleep. I hope this post somewhat makes sense. Have a good night

 

[MattR82]

Misconception - I have to hold onto every penny, or I'll run out.
Abundance Mindset - Smart investments and spending can lead to growth. I can allocate resources in ways that lead to further abundance. The way I think now is instead of saving more money, I make more money.

This in particular has helped me. I went way too far into penny pinching mode during my first year of operating and not enough time spent on focussing more on growth.
I have seen where some people think having an abundance mindset means acting and spending like you are already a millionaire lol but re-framing it in my mind to reallocating rather than saving has helped massively.

 

[biophase]

The fallacy of this comment is that someone inherently "deserves" housing or healthcare just because they are a living human.

I’m all for everyone getting a roof over their head. People always complain about prices in a certain area, like they are entitled to live in that neighborhood or town.

But you don’t get to live on the beach just because you can’t afford it.

There are many $40k houses all over America.

There’s no rule that says you deserve to live within 30 minutes or even 1 hour of your job.

 

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[BizyDad]

The fallacy of this comment is that someone inherently "deserves" housing or healthcare just because they are a living human.

We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life...

You can choose to see this as a fallacy, but my country's founding document calls your "fallacy" a self-evident truth.

The rest of your comment was a slippery slope argument at best.

The reality is that nobody deserves anything.

How is this reality? What kind of nihilistic nonsense is this?

As just one example, nobody deserves respect? Ever? That's your reality?

I live in Germany

Oh. Right. How could I forget. Well, that explains it then. Lol.

Interesting interacting with people from all walks of life in here...

 

[Roli]

We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life...

You can choose to see this as a fallacy, but my country's founding document calls your "fallacy" a self-evident truth.

The rest of your comment was a slippery slope argument at best.



How is this reality? What kind of nihilistic nonsense is this?

As just one example, nobody deserves respect? Ever? That's your reality?



Oh. Right. How could I forget. Well, that explains it then. Lol.

Interesting interacting with people from all walks of life in here...

Well, at least there is one person here brave enough to step out of the echo chamber.

Anyway, I thought I'd unwatched this thread, I will fiddle with the settings again.

 

[Roli]

I’m all for everyone getting a roof over their head. People always complain about prices in a certain area, like they are entitled to live in that neighborhood or town.

But you don’t get to live on the beach just because you can’t afford it.

There are many $40k houses all over America.

There’s no rule that says you deserve to live within 30 minutes or even 1 hour of your job.

There is also no rule that you should get medical care regardless of your net worth. Doesn't mean there shouldn't be though.


Anyways, don't bother replying, I'm not trying to debate, I thought I had unwatched this and I'm still getting notifications.

I get it guys, you're all angry because I dared to give a different opinion on something. It's okay, you can all go back to being right about everything.

Peace X

 

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[A Sunderland]

ABUNDANCE: Right now housing is expensive and I can't afford a house, but someday I will because money is abundant and I know if I deliver enough value to my fellow humans, one day I will be able to buy whatever I want.

Right now I'm absolutely skint, after losing my job while recovering from a stroke, my stockbroker screwing up big-time at the start of the pandemic, and the recent collapse of the stock market and my pension.
recently had to borrow £10,00 off family, and I'm committed to paying them back by April 2024 THEN I'm going to build my business and create the 'value vouchers' to buy my dream home.
daren't tell my family and friends this as they'd call 'the Men In White Coats' if they had any idea what I've got my heart set on.
At times I've been a bit Gung-Ho and created some of my own problems, but I've learned a great deal that will help me build a business helping others achieve their goals and build better lives.
That's my 2 minute distraction for the day. Back to business (now that I've learned how to create and schedule tons of content)

 

[Subsonic]

We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life...

You can choose to see this as a fallacy, but my country's founding document calls your "fallacy" a self-evident truth.

The rest of your comment was a slippery slope argument at best.



How is this reality? What kind of nihilistic nonsense is this?

As just one example, nobody deserves respect? Ever? That's your reality?



Oh. Right. How could I forget. Well, that explains it then. Lol.

Interesting interacting with people from all walks of life in here...

If a law grants someone a right, then that's a promise. Whoever made that promise is responsible for keeping it.

If the government said one deserved a house then it's a promise from them to make sure everyone has one.
If God said everyone deserved a house then in my mind it's on him to keep that promise.

I can openly say that this is my opinion and that I am a nihilist in some sense. To me, everything just is and it's my responsibility to deal with it if the current "is" is not what I want it to be.

Saying I deserve something to me is just shifting responsibility and, with that, power over my own life, from me to someone else.

"I deserve a house !" To me means "Person/Organisation/whatever else X has to give it to me or make sure I can get it myself."

Since I can't influence that big thing X I would rather just find a solution to the problem myself.

What I love about Americans is that they look at eu countries with free education and healthcare and cheaper Housing and say "they have it so we deserve it too".
Then they also demand that they are not taxed over 30% of their income.
F*cking hell you pay 55% tax and social payments in germany for that stuff. Free things aren't free.

Also I want to say I respect your take and don't want to call it wrong if it seems so. I just want to clarify my point here.