Today I want to hone in on one thing, and one thing only. If you don’t have this right, you don’t stand a chance at financial freedom. It’s the truth, and I want you to make it; so we’ve got to get this one right.
From whom do you take your financial advice?
Did you know, according to the Department of Health and Human Services, 95% of Americans (NINETY FIVE PERCENT!) over the age of 65 are either dead or broke?
Do you want to be dead or broke at 65? Of course not! Nobody does.
So, I want you to seriously consider FROM WHOM you are taking your financial cues.
Are you swapping notions with your neighbor, your office mate, your broke brother-in-law who rails on about the next big stock option? (I had one of those)
Or are the people whose ideas fill your brain financially free and exactly where you want to be?
Doesn’t it make sense to take your cues from someone who has what you want – someone who already lives where you’re aiming? (Let me answer this one for you. YES!)
I mean, if you wanted to be a pro ball player, would you seek advice from a major league coach or a minor league rookie who barely made the team that no one has heard of?
THAT answer is obvious.
However, when it comes to financial education, we often learn from people who can’t help us become financially free.
Historically, our primary source of education comes from our parents. Unless your parents are financially free, I’m sorry, the likelihood that you’ll learn to be financially free is slim. We can only teach what we know, and the fact is, about 95% of us don’t know. Nope, I don’t want to hear it. Zip it!
Unless you are already financially free… you don’t know.
The next place we learn is our school system, which, in my opinion, is broken. Their idea of financial education is do well in school, get a job, work for your lifetime, and save enough to retire. Sadly, that method no longer works (and it actually hasn’t for a very long time).
By the way, the majority of financial planners aren’t financially educated either. Unfortunately those guys are salesmen, not financial wizards. If they were financially educated, more than 5% of our population would be prepared to retire.
If you keep listening to those who don’t know, it’s very likely you’ll wake up at 65 without the freedom to retire, not to mention all the years you spent waiting to live. I’m not trying to scare you – actually if you’re scared, good. Maybe you’ll start listening to someone different.
Start taking advice from people who have what you want, stand where you’re going, and know what they’re doing; then you’ll have a chance.
As Jim Rohn, a master of the self-made man, said…
“Formal education will make you a living, self-education will make you a fortune.”
Which would you rather have?
Take control of your education. Begin by choosing who you listen to.