3 Shiny Objects to Avoid in Wealth Building

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Welcome to the 105th edition of the Inkosi Wealth Scoop!

In this episode, I’m going to talk about how you can build wealth by focusing on the right things and avoiding the 3 shiny objects a lot of investors fall into.

As I’ve spoken to more and more investors, I notice that a lot of people are climbing the ladder to financial success and doing all the right things, only to find very late in their journey that they’ve been leaning against the wrong wall.

We cover:

  • What are The 3 Shiny Objects to Avoid in Wealth Building?
  • #1 Focusing Only on Building Your Net Worth
  • #2 Abdicating Your Decision Making
  • #3 Focusing on the Wrong Investment Properties
  • Are You Leaning Your Ladder on The Wall?

 

Show Notes:

00:00:00 – Intro

00:01:40 – What are The 3 Shiny Objects to Avoid in Wealth Building?

00:02:09 – #1 Focusing Only on Building Your Net Worth

00:04:40 – #2 Abdicating Your Decision Making

00:08:18 – #3 Focusing on the Wrong Investment Properties

00:12:49 – Are You Leaning Your Ladder on The Wall?

00:14:01 – Final Thoughts

00:15:32 – Outro 

Hey, guys. Welcome back to the podcast. It is so good to have you with us today.

I want to talk about a topic that has really come into my mind over the last few weeks as I’ve spoken to many investors, and that is that a lot of people are climbing the ladder to financial success. 

They’re doing all the right things, only to find very late in their journey that they’ve been leaning against the wrong wall.

 Now, obviously, that is a metaphor, and what I really mean to say is that I think people get that building wealth is important, and depending on how much time and energy and effort they’ve given it, they’ve taken some action, but they’ve realised very late in the wealth-building journey, that maybe they’ve been focusing on the wrong things.

 The runway that they have now from where they want to be to the decision to either step backwards or step away from their businesses is very near in the future.

 So they don’t have that runway to correct their course of action, as they may have had, say, for example, a decade ago. Read More

 

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