Key Ideas to Shift Your Money Mindset — and Get on the Pathway to Wealth
Over the past few years that I’ve been on social media, my goal has been to inspire people to escape the rat race and live their dreams. I know that with the right strategy, anyone can build the wealth they need to live life their own way.
Most people think you have to be born rich or be incredibly lucky to generate wealth, and I don’t agree with either of those things; I’m one of five kids born to two Haitian immigrants in New York City, raised during the crack cocaine era — I have every excuse to say that I shouldn’t have made it in life, and yet I did.
I know that getting wealthy is a methodical process that if executed properly will improve your financial situation. Over the years I’ve built six, seven, and eight-figure businesses as well as a multi-million dollar net worth. I’ve done so by applying some common practices and strategies that you can repeat to live out your dreams.
I shared those strategies last December in my webinar Pathway to Wealth — but before getting to the actual practical steps that will build up your wealth, you need to set the right base to hold all the work you’ll do, and that is your mindset.
Right now, I’ll share the key mindset shifts that you need to be making to get started on the Pathway to Wealth — and once you’re ready to jump into the action, go check out the webinar!
Do you really want to be wealthy?
This question is the first thing that you should ask yourself, and, you need to examine, when you start thinking about being wealthy, what comes to mind? For a lot of people it’s the “luxuries” of life such as:
That’s a lot of people’s idea of what wealth looks like. We have a habit of thinking of wealth from what we see and what’s projected to us, rather than really having a good understanding of what wealth is about.
You see, when I see people broadcasting those things I mentioned before, especially on social media, what I actually see in these images of wealth is this:
It drives me nuts when I see people with Louis Vuitton bags because it’s a false symbol of luxury, and on top of that it’s totally branded and it literally turns you into a walking billboard, yet people pay thousands of dollars to have them.
If you look at the higher-end Louis Vuitton products you’ll see that they don’t have any of the monograms on them, they’re absolutely blank, and that should be an indicator that you’re buying into a false concept of luxury and wealth.
I want to help you unlearn that concept of wealth because essentially you’re going to end up accumulating things that will end up in the trash, and they’re not going to be able to do anything for you other than project the image that you’re willing to spend more than the average person.
Meet your basic needs first, then focus on building wealth
The next mindset shift you need to make is that you need to realize that first you need to cover your survival expenses, and once you can meet that basic survival, then you need to start building wealth.
I’m going to give you a good example:
When we go to college (for those of us who go to college), once you’re an adult, the first level of success is getting your own place — maybe you rented a humble apartment, but you got your own place, you’re out of your parents’ house, so level 1 achieved. Then maybe you start thinking about getting a car, or maybe the car came first.
All that is the first level, getting your own shelter, form of transportation, being able to feed yourself — basically, you’re independent, you can cover your survival needs.
What happens with most people is that after they reach that first level, when they start to get promotions and raises, they just increase their lifestyle expenses — and that’s a huge mistake.
Realistically, life doesn’t get that much better after a certain point of the money you make. Once you’ve got those basics met, you go, for example, from having a used car to a new car, from a new car to a luxury car, but the thing is: it’s still doing the same function, getting you from point A to point B, however, your bill keeps going up.
But somehow, that’s the game that we play, adjusting our lifestyle according to how much we make. If you don’t do that, something special happens: you have extra money, and you can turn that money into your little soldier. Every little bit of money that you make that’s above just surviving is an opportunity to invest in things that will make you wealthy.
So let go of the idea that you need to adjust your lifestyle according to your income.
Start investing in your future!
Now that you have a better idea of how you need to think about money, you can start putting your money to work. But what’s the right strategy?
In Pathway to Wealth, I shared the strategy that has worked for me and led me to a multi-million-dollar net worth. The webinar is free and open to anyone interested – no catch, no get rich quick schemes, no gimmicks. You can check it out here: