In today’s podcast, we are going to do something a little different.

You see, one of the common questions I get asked is, “Michael, what’s your net worth?” It’s a question people are curious about—and I get why.

However, rather than simply providing you with a number, I want to take you behind the scenes and share the principles, strategies, and mindset that have helped me achieve the financial freedom I enjoy today.

We’ll talk about the stages of wealth creation, the power of leverage, and the lessons I’ve learned—sometimes the hard way—over the last five decades in property. And joining me for this conversation is Brett Warren, Director at Metropole, who will turn the tables and ask me the questions many of you have been wondering about.

And the intention of today’s show is not to gloat, boast or show off, but to inspire you to build your own net worth.

 

Takeaways 

·         The pursuit of the easy often leads to more challenging tasks.

·         Wealth is not just about money; it includes health and relationships.

·         Net worth is a measure of financial health, not just income.

·         Investing is a long-term journey that requires patience and a strategic approach.

·         Leverage can be applied in various forms: time, relationships, mindset, and money.

·         Many investors focus too heavily on cash flow rather than asset growth.

·         A strategic plan is crucial for achieving success in property investment.

·         Mistakes in early investments can provide valuable lessons.

·         A positive mindset plays a crucial role in achieving financial success.

·         Surrounding yourself with successful individuals can accelerate your journey.

 

Chapters 

 

00:00 Behind the Scenes of Financial Freedom

01:24 Understanding True Wealth

06:45 Stages of Wealth Creation

09:26 Common Misconceptions in Wealth Building

14:42 Learning from Mistakes

20:09 Mindset and Wealth Building

23:00 Taking Action Towards Wealth

 

Links and Resources:

 

Answer this week’s trivia question here- www.PropertyTrivia.com.au

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