043: The #1 Wealth Building Killer | WTW

Millionaire Mindcast

Matt Aitchison Media, Inc

Productivity, Stocks, Realestate, Lifestyle, Finance, Commercialrealestateinvesting, Personalgrowth, Entrepreneur, Business, Entrepreneurship, Rich, Mastermind, Money, Personalfinance, Millionaire, Mentorship, Realestateinvesting, Success, Mentor, Wealth, Investing, Millennials

4.4 • 716 Ratings

🗓️ 17 August 2016

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

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Summary

When it comes to building wealth, most people wait for the perfect conditions to start investing. What they forget to realize is that "perfect" doesn't exist and they never start. As the years pass by, they not only have nothing to show for it, but they are now plagued with regret for not acting sooner. The best time to start investing in your future is NOW! Learn what Matty A says is the #1 wealth building killer so you can avoid making that mistake and ensure you don't become apart of the "I wish I woulda" club.

Transcript

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0:00.0	Episode 43 of Millionaire Mindcast, the number one wealth-building killer.
0:08.9	What's going on, everybody?
0:10.5	Welcome into today's Wealth Tip Wednesday.
0:18.2	Thanks for tuning in for another episode of Millionaire Mindcast,
0:21.3	this show where Mindset and Money Meet.
0:23.3	I'm your host, Mattie A, and as always,
0:26.4	thanks for spending a little time with me today.
0:28.5	I wanted to go over the number one wealth-building killer.
0:35.5	And the number one wealth-building killer is procrastination. And I know we all
0:40.4	have some sort of experience with procrastination, whether that's with a work project or when you
0:47.5	were in school, you know, wait until the last minute to get that homework done. Or maybe it's, you know,
0:54.0	putting off eating well or going to the gym
0:57.3	or in this case so many people procrastinate on wealth building and they think that, you know,
1:03.5	all the stars have to be aligned. All the dominoes have to be perfectly lined up in order to
1:09.2	knock that first one over and begin this process. And I'm here
1:13.1	to tell you that your wealth building focus and journey cannot wait. You have to start it today.
1:21.1	And there's no better time to start it than right now. You know, a lot of people, according to
1:26.6	Ferrari Johnson McCown, which is a study done on
1:30.5	the cognitive distortions that lead to procrastination, they found that there's four common things that
1:38.1	people generally relate to or think of when they decide to procrastinate. And the mindset that many people
1:46.2	fall into is these four things. One, they overestimate how much time they have left to build wealth.
1:54.5	So they say, hey, you know what? I am busy focusing on this right now. But when I get to that side of the line that I drew
	...

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