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Michael Yardney Podcast

Insightful, educational and always interesting

Listen and learn from Michael Yardney, Australia’s most trusted property commentator and a group of experts as they discuss Property Investment, Success, Money and Finance to help you multiply your wealth.
While Michael is best known as a property expert, he is also Australia’s leading authority in the psychology of success and wealth creation. You’ll enjoy the way he challenges traditional finance advice with innovative ideas on real estate investing, personal finance and wealth creation. 
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  1. All Episodes
  2. 007: 7 Pearls of Ancient Wisdom for Success | Steve Job’s mindset lesson | Why we can’t depend on the Government to look after us: Pete Wargent

Sep 11, 2017

In today’s show I'll be discussing 7 pearls of ancient wisdom for success in property investment and life.

Let's see what we can learn from Confucius and his friends.

In my motivational moment, I share some great concepts from Steve Jobs and Winston Churchill. There is so much we can learn from these experts that can be applied to life, success, and even investing.

I finish off with Pete Wargent who explains to us why we can’t depend on the Government to look after us in the future. We can do smart things as a property investor to secure our own futures.

1. 7 Pearls of Ancient Wisdom for Success

  1. Thoughts lead to feelings. Feelings lead to actions. Actions lead to results.
  2. Recognize where you need help and don’t be afraid to ask for help.
  3. Seek out mentors that have achieved the goals you aspire to.
  4. Review your property portfolio regularly. Get rid of losers and move foreword.
  5. Insure yourself and your assets and maintain a financial buffer.
  6. The process takes time.
  7. It’s never too late to get into the property game.

2. Mindset Message: Developing rich habits by thinking like successful people. Steve Jobs and Winston Churchill teach us about:

  1. Having perseverance and letting your vision pull you through.
  2. Having a positive passion project.
  3. Having the courage to continue is what counts.

3. Why we can’t depend of the Government to look after us in the future.

  1. Australian’s are living longer, often 20 – 30 years after retirement.
  2. The typical superannuation fund balance will not be sufficient for your “golden years.”
  3. Australians need to invest and build an asset base using the power of leverage, time and compound growth
  4. It will take around 15 years to build a sufficient asset base for financial freedom, but possibly a further 10 years if you do what the average property investor does and invest the wrong way.
  5. Consider investing in different asset classes including shares and properties
  6. We all have a “natural bias” towards certain investment classes
  7. The most important thing is to get started
  8. Speed things up by getting the right mentors and finding a proven strategy then formulate a plan
  9. Start investing when you are young because time and leverage are on your side

Links and resources:

Quotes:

“Your level of wealth will seldom exceed your own personal development.” Michael Yardney

“One of the biggest mistakes that new investors make is thinking that they can do everything themselves.” Michael Yardney

“If you are the smartest person in the room, you are in the wrong room.” Michael Yardney

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