Property Hub - Investment Insights & Inspiration - Get Invested: Ron Malhotra on the strange secret to success

Episode Date: August 1, 2020

Ron Malhotra is an award-winning wealth planner, influence and success expert, an author, radio host, international public speaker, MD of Maple Tree Wealth, founder of The Successful Male Global and creator of The Success Blueprint Program. He’s been featured in Forbes, the Australian Financial Review, Money Magazine, Smart Investor, Entrepreneur, on the ABC and many more. Ron’s passion is finding ways to improve your life. He loves inspiring and teaching you to do things you never thought possible. The primary way he has chosen to make a difference is through education in the form of advising, consulting, mentoring, coaching, training, speaking and writing. Ron loves enabling ambitious people to create world class careers and lifestyles with results, influence and affluence. He educates on the psychology of achievement, wealth principles and strategies, success strategies, influence and leadership. The underlying philosophy that guides all his work is to enable you to have fun, fulfilling and lucrative careers. So during our engaging discussion today we delve into: Why we don’t like talking about wealth and money Who is most at risk in the future and what can you do about it His unique SISPIP sequence for successful wealth creation and His Future Millionaires Academy to help with your money psychology and the 3 types of people  If you enjoy our chat today as much as I did, then you can secure a special Get Invested 20% discount for Ron's next program launch of the "Future Millionaire's Academy" if you email [e-mail] with the subject line "Get Invested FMA" along with your name, contact number and email in the body of the email. Ron's book recommendation: The Millionaire Next Door by Thomas Stanley Get Invested is the podcast dedicated to time poor professionals who want to work less and live more. Join Bushy Martin, one of Australia’s top 10 property specialists, as he and his influential guests share know-how on the ways investing in property can unlock the life you always dreamed about and secure your financial future. Remember to subscribe on your favourite podcast player, and if you're enjoying the show please leave us a review. Find out more about Get Invested here https://bushymartin.com.au/get-invested-podcast/  Want to connect with Bushy? Get in touch here https://bushymartin.com.au/contact/  This show is produced by Apiro Media - http://apiropodcasts.comSee omnystudio.com/listener for privacy information.

Because of my own life and my background and some of the problems that I have encountered as well as solved for myself, I have become extremely passionate about enabling people to design the lifestyle that they want. I'm big on lifestyle myself. I believe everyone should have a wonderful lifestyle and that's why I specialize in the area of factors that contribute to a lifestyle that people would enjoy and a lifestyle that people actually desire. Money is not important, but everything that is important requires money. When it comes to money, there are three types of people. People who value money simply because it affords them necessities. People who value money so that they can exchange that money for lifestyle. And the people who actually value wealth creation.

And in my research, only the third category ever become wealthy. Welcome to the Get Invested podcast, where we share great conversations with experts from all walks of life to uncover their secret know-how on where they invest their time, their skills, and their money, and the benefits that this has created. You see, the truth is that everyone invests every minute of every day. We're investing our time, our skills, our energy, and our money in something. Some of us are investing consciously, some unconsciously, sometimes for good, sometimes for bad, sometimes for no impact.

Get Invested will help you to start living by design, not by default. I'm going to help you to make it happen, not let it happen. You'll hear the top tips on how you can live with conscious intent so that you can live more, work less, and leave a living legacy by investing now. Listen to the show to discover the top tips on how to get started, make the most of your investment journey, and ultimately, to be living your dream, not someone else's. More episodes can be found on iTunes or at bushymartin.com.au forward slash getinvested. Thanks for listening, and now, let's get invested.

Hi, Freedom Fighters. Have you designed the lifestyle that you want? And what's important to you? What type of money person are you? And how badly do you want to create the wealth that will enable and sustain your ideal lifestyle? Today we start by returning to one of my favourite subjects that revolves around one of my bushisms of living by design, not by default. Of starting with the end in mind.

of rediscovering the secret of dreaming in decades and doing in days. And all of this and everything anyone successful has achieved and that my awesome wife Sonia and I have achieved and will continue to achieve revolves around the old adage principle and the simple but significant forgotten secret that what we think about and what we feel about is what we bring about. what we think about and what we feel about is what we bring about it sounds too simple to be

true doesn't it and this is why it's so often overlooked discounted or discarded so to get you motivated about how this simple statement can be the catalyst to change your life i want to share with you today the profound and prophetic words that inspired and turned things around for me over 20 years ago when I was down and out, burnt out, broke and broken after losing my marriage and my career and was starting again with nothing in my mid-thirties. They're the revelational words of Earl Nightingale from his evergreen bestseller, The Strangest Secret. Earl's words were the initial spark in my darkest time of need that has ignited a raging unquenchable fire within me

along with countless others over the years that have all been touched by them. So today I'm going to paraphrase, modernise and share the essence of them with you and hope that you too will open your mind to the world of exciting possibilities that they can create within you to transform your life regardless of how good or bad

your life might be right now. So let's begin. I'd like to tell you about the strangest secret in the world. Some years ago, the late Nobel Prize winner, Dr. Albert Schweitzer, was asked by a reporter, doctor, what's wrong with people today? The great doctor was silent for a moment And then he said, people simply don't think. It's about this that I want to talk with you. We live today in a golden age. This is an era that humanity has looked forward to, dreamed of, and worked towards for thousands of years.

But since it's here, we pretty much take it for granted. it. We're particularly fortunate to live in the richest era that has ever existed on the face of the earth. A time of abundant opportunity for everyone. But do you know what happens? Let's take 100 people who start even at the age of 25. Do you have any idea what will happen to those men and women by the time they're 65? These 100 people believe they're all going to be successful. If you would ask any of these if they wanted to be successful, you'll find out they did. They're eager toward life, there's a certain sparkle in their eye, an erectness to their carriage, and life seems like a pretty interesting adventure to them.

However, by the time they're 65, only one will be rich, four will be financially independent, 5 will still be working and 54 will be broke now what will happen to 100 individuals who start even at the age of 25 and who believe that they'll be successful by the age of 65 only 5 out of 100 will make the grade

why do so many fail? what happened to the sparkle that was there when they were 25? What became of the dreams, the hopes, the plans? And why is there such a large disparity between what these people intended to do and what they actually accomplished? When we say about 5% will achieve success, we have to define success. And here's the best definition that I've ever been able to find. Success is the progressive realisation of a worthy ideal.

of a clear vision. If a person is working toward a predetermined vision and knows where they're going, that individual is a success. Success is the progressive realization of a worthy ideal. Rollo May, the distinguished psychiatrist, wrote a wonderful book called Man's Search for Himself. And in this book, he says, the opposite of courage in our society is not cowardice, it's conformity. Conformity, people acting like everyone else without knowing why or where they're going. Now think of it, today we have millions of people aged 65 and older, and most of them are broke. They're dependent on someone else for their life's necessities. We learn to read by the time we're seven.

We learn to make a good living by the time we're 30. Often, by that time, we're not only making a living, we're supporting a family. By the time we're 65, we haven't learned how to become financially independent in the richest time that has ever been known. Why? We can form.

And the trouble is, most of us are acting like the wrong percentage group, the 95 who don't succeed. And why do these people conform? Well, they really don't know. These people believe their lives are set by their circumstances, by things that happen to them, by exterior forces. They're outer-directed people. a survey was made one time of a lot of working individuals and they were asked why do you work why do you get up in the morning 19 out of 20 had no idea if you ask them they tell you that everyone gets up in the morning and that's why they do it because everyone else is

doing it now let's get back to our definition of success who succeeds the only person who succeeds is a person who is progressively realizing a worthy ideal and a clear vision for their life. It's the person who says, I'm going to become this and then progressively works towards it. A success is anyone who's doing deliberately a worthy predetermined job because that's what he's decided to do deliberately. But only one out of 20 does that. That's why today there really isn't any competition unless we make it of ourselves. Instead of competing, all we have to do is create. You know, for 20 years I looked for the key which would tell you

what would happen to a human being. Was there a key, I wanted to know, which would make the future a promise, something we could foretell to a large extent? Was there a key which would guarantee a person's becoming successful if they only knew about it and knew how to use it. Well, there is such a key, and I've found it. Have you ever wondered why so many people work so hard and honestly without ever achieving anything in particular,

and why others don't seem to work that hard at all, yet they seem to get everything? They seem to have the magic touch. You've heard people say, everything they touch turns to gold. Have you ever noticed that a person who becomes successful tends to continue to become more successful. The difference is a vision and goals. Some of us have a vision and goals.

Many don't. People who have a vision and goals succeed because they know where they're going. It's that simple. Think of a ship leaving a harbour with the end destination mapped out. The captain and the crew know exactly where the ship is going. It has a definite destination. and 9,999 times out of 10,000, it'll get there. Now, let's take another ship, just like the first,

only let's not put a crew on it or a captain at the helm. Let's give it no aiming point, no goal and no destination. We just start the engines and let it go. I think you'll agree that if it gets out of the harbour at all, it will either sink or wind up on some deserted beach. A derelict. It can't go anyplace because it has no destination and no direction. It's the same with a human being.

Someone once said, the human race is fixed not to prevent the strong from winning, but to prevent the weak from losing. The entire economy is slowed down to protect its weakest link. That's why it's so easy to make a survival living today. It takes no particular brains or talent to have enough money to survive today. We have a safety net plateau of so-called security, if that's what a person is looking for. But we have to decide now how high above this plateau we want to aim. But let's get back to the strangest secret and the story I wanted to tell you today.

Why do people with a vision and goal succeed in life and those without them don't? let me tell you something that if you really understand it will alter your life immediately if you understand completely what i'm about to tell you from this moment on your life will never be the same you'll suddenly find that good luck is just attracted to you the things you want just seem to fall in line and from now on you won't have the problems the worries that gnawing lump of anxiety perhaps that you've been experiencing. Doubt and fear, they'll be things of the past. Here's the key to success. We become what we think about. Throughout history, the great wise men and teachers, philosophers and prophets have agreed on this one point and they are

in complete and unanimous agreement. Listen to what Marcus Aurelius, the great Roman Empire set in the 2nd century BC. A man's life is what his thoughts make of it. In the Bible, we read in Mark 9.23, If thou canst believe, all things are possible to him that believeth. In the 1800s, Ralph Waldo Emerson said this, A man is what he thinks about all day long. Around the same time, the American philosopher William James said,

the greatest discovery of my generation is that human beings can alter their lives by altering their attitudes of mind. We need only in cold blood act as if the thing in question were real and it will become infallibly real by growing into such a connection with our life that it will become real. it will become so knit with habit and emotion that our interest in it will be those which characterize belief and he also said if you only care enough for a result you will almost certainly attain it if you wish to be rich you will be rich if you wish to be learned

you will be learned if you wish to be good you will be good only you must then really wish these things and wish them exclusively and not wish at the same time a hundred and other incompatible things just as strongly. In the early 1900s, George Bernard Shaw said, people are always blaming their circumstances for what they are. I don't believe in circumstances. The people who get on in this world are the people who get up and look for the circumstances as they want. And if they can't find them, they make them. In 1952, Dr. Norman Vincent Peale put it this way, this is one of the greatest laws in the universe. Fervently do I wish I discovered it as a very young man. It dawned on me much later in life, and I

found it to be my greatest discovery outside of my relationship with God. The great law briefly and simply stated this, if you think in negative terms, you'll get negative results. If you think in positive terms, you'll achieve positive results. This is the simple fact he went on to say, which is the basis of an astonishing law of prosperity and success. In three words, Believe and Succeed. Well, it's pretty apparent, isn't it? And every person who discovered it believed for a while that he was the first one to work it out.

We become what we think about. Now, it stands to reason that a person who's thinking about a concrete and worthwhile goal is going to reach it because that's what he's thinking about. And we become what we think about. Conversely, the person who has no goal, who doesn't know where he's going, and whose thoughts must therefore be thoughts of confusion, anxiety, fear, and worry, will become what he thinks about.

Their life becomes one of frustration, fear, anxiety, and worry. And if they're thinking about nothing, they become nothing. How does it work? Why do we become what we think about? Well, I'll tell you how it works, as far as we know. But to do this, I want to tell you about a situation that parallels the human mind. Suppose that a farmer has some land, and it's good, fertile land. The land gives the farmer a choice.

He may plant in that land whatever he chooses. The land doesn't care what is planted. It's up to the farmer to make the decision. remember we're comparing the human mind to the land because the mind like the land doesn't care what you plant it will return what you plant but it doesn't care what you plant if the farmer plants two seeds one seed of corn the other a deadly poison he digs two little holes in the land plants both seeds one corn the other deadly poison he covers up the holes he waters and he takes care of the land, and what will happen? Invariably, the land will return what's planted.

So up come the two plants, one corn, one poison. As it's written in the Bible, as ye sow, so shall ye reap. Remember, the land doesn't care. It will return poison in just as wonderful abundance as it will corn. So up come the two plants, one corn, the other poison. The human mind is far more fertile, far more incredible and mysterious than the land, but it works exactly the same way. It doesn't care what we plant, success or failure, a concrete worthwhile vision and goal, or confusion, misunderstanding, fear, anxiety and so on. But what we plant, it must return to us. You see, the human mind is the unexplored continent on earth. It contains riches beyond our wildest dreams. It will return anything

we want to plant. Now you might say, well if that's true, why don't we use our minds more? I think they've figured out an answer to that one too. Our mind comes as standard equipment at birth. It's free. And things that are given to us for nothing, we place little value on. Things that we pay money for, we value. The paradox is that exactly the reverse is true. Everything that's really worthwhile in life came to us for free. Our minds, our souls, our bodies, our hopes, our dreams, our ambitions, our intelligence, our love of family and children and friends and country, all these priceless possessions are free. But the things that cost us money are actually very cheap and can be replaced at any time. A good person can be completely wiped out

and go on to make another fortune. They can do that several times. Even if our homes burn down, we can rebuild them. But the things we got for nothing, we can never replace. The human mind isn't used because we take it for granted. And familiarity breeds contempt. Our mind can do any kind of job that we assign to it, but generally speaking, we use it for little jobs instead of big ones. Universities have proved that most of us are operating on about 10% or less of our abilities. So decide now, what is it you want? Plant your goal and your vision in your mind.

It's the most important decision you'll ever make in your entire life. what is it that you want do you want to be an outstanding worker at a particular job do you want to go places in your company in your community you want to be rich all you have to do is plant that seed in your mind care for it work steadily toward your vision and goal and it will become a reality it not only will there's no way that it can't you see that's a law, like the laws of Sir Isaac Newton, the laws of gravity. If you get on the top of a building and jump off, you're always going to go down. You'll never go up. And it's the same with all the other laws of nature. They always work. They're inflexible. Think

about your vision and goals in a relaxed, positive way, though. Picture yourself in your mind's eye as having already achieved this vision. See yourself doing the things you'll be doing when you've reached your goals. Now, ours has been called the phenol-barbitol age, the age of ulcers and nervous breakdowns and tranquilizers. At a time where medical research has raised us to a new plateau of good health and longevity, far too many of us worry ourselves into an early grave,

trying to cope with things in our own personal ways without learning a few great laws which could take care of everything for us. These things we bring on ourselves through our own habitual ways of thinking. Every one of us is the sum total of our own thoughts. We are where we are because that's exactly where we really want to be, whether we admit it or not. Each of us must live off the fruit of our thoughts in the future, because what you think today and tomorrow, next month and next year,

will mould your life and determine your future. You're guided by your mind. Just suppose you're sitting at the controls of a vast source of energy. Are you going to sit back and fold your arms and just let it run itself into a ditch? Or are you going to keep both hands firmly on the wheel and control and direct the power to a specific worthwhile purpose? It's up to you. You're in the driver's seat.

You see, the very law that gives us success is a double-edged sword. We must control our thinking. The same rule that can lead you to a life of success, wealth, happiness, and all the things you've ever dreamed of, that very same law can lead you into the gallop. It's all in how you use it, for good or for bad. This is the strangest secret in the world. Now, why do I say it's strange?

and why do I call it a secret? Actually, it's not a secret at all. It was first promulgated by some of the earliest wise men and it appears again and again throughout history like the Bible. But very few people who have learned it understand it. That's why it's strange and why for some equally strange reason it virtually remains a secret.

I believe that you could go out and walk down the main street of your town and ask one person after another what the secret of success is and you wouldn't run into one person in a month who could tell you. Now, this information is enormously valuable to us and if we really understand it and apply it, it's valuable to us not only for our own lives but the lives of those around us, our family, employees, associates and friends. Life should be an exciting venture

It should never be a bore Everyone should live fully, be alive They should be glad to get out of bed in the morning They should be doing work they like to Because they do them well One time I heard Grove Patterson The great late editor of the Toledo Daily Blade Make a speech

As he concluded his speech He said something I've never forgotten my years in the newspaper business had convinced me of several things among them that people are basically good and that we came from some place and we're going some place so we should make our time here an exciting adventure the architect of the universe didn't build a stairway leading nowhere and one of the greatest teachers of them all

the carpenter from the plains of Galilee gave us a secret time and time again in the Bible As ye believe, so it shall be done unto you. Now, I want to explain how you can prove to yourself the enormous returns possible in your own life by putting the secret to a practical test. I want you to make a test that will last 30 days. It isn't going to be easy, but if you give it a try, it will completely change your life for the better. Back in the 17th century, Sir Isaac Newton, the English mathematician and natural philosopher, gave us the natural law of physics, which applies much to human beings as they do to the movement of bodies in the universe.

One of these laws is that for every action, there's an equal and opposite reaction. Simply stated, as it applies to you and me, is that we can achieve nothing unless we pay the price. The results of your 30-day experiment will be in the exact proportion to the effort that you put in. To be a doctor, you must pay the price of long years of difficult study. To be successful in selling, and remember that each of us succeeds to the extent of our ability to sell. Selling our families on their ideas, selling education in schools, selling our children on the advantages of living a good and honest life, selling our associates and employees on the importance of being exceptional people.

But to be successful in selling our way to the good life, we must be willing to pay the price. Now, what's the price? Well, it's many things. First, it's understanding emotionally as well as intellectually, we literally become what we think about. We must control our thoughts if we are to control our lives. It's understanding fully that as you sow, so shall you reap. Second, it's cutting all fetters away from the mind and permitting it to soar as it was divinely designed to do.

It's the realisation that your limitations are self-imposed and that the opportunities today are enormous beyond belief. It's rising above narrow-minded pettiness and prejudice. Third, it's using all your courage to force yourself to think positively on your own problem To set a definite and clearly defined vision for yourself To let your marvellous mind think about your goals from all possible angles To let your imagination speculate freely upon many possible solutions To refuse to believe there are any circumstances sufficiently strong to defeat you in the accomplishment of your purpose

to act promptly and decisively when your course is clear and to keep constantly aware of the fact that right now you are at this moment standing in the middle of your own acres of diamonds as Russell Conwell used to point out. Fourth, save at least 10% of every dollar you earn. It's also remembering that no matter what's your present job it has enormous possibilities if you're willing to pay the price. Let's go over the important points and the price each of us must pay

in order to achieve a wonderful life that can be ours. It is, of course, worth any price. 1. You will become what you think about. 2. Remember the word imagination and let your mind begin to soar. 3. Courage. Concentrate on your vision every day. 4. Save 10% of what you earn. and five, action. Ideas are worthless unless we act on them. I'll try to outline the 30-day test I'd like you to make. Keep in mind you have nothing to lose in making this test and everything you

could possibly want to gain. There are two things that could be said of everyone. Each of us wants something and each of us is afraid of something. I want you to write on a card, on the screensaver or your phone, on your laptop, on your bathroom mirror, the back of your toilet door, recorded on your phone, what it is that you want more than anything else. It may be more money. Perhaps you'd like to double your income or make a specific amount of money. It may be a beautiful home. It might be success at your work. It might be a particular position in life. It could be a harmonious family. Each of us wants something. Write down specifically what it is that you want. Make sure it's a single vision or goal and clearly defined.

You needn't show it to anyone but carry it with you so that you can look at it several times a day and think about it in a cheerful, relaxed, positive way each morning when you get up and immediately you have something to work for, something to get out of bed for, something to live for. Look at every chance you get during the day and just before going to bed at night. As you look it, remember that you must become what you think about. And since you're thinking about your goal, you realise that soon it will be yours. In fact, it's really yours the moment you write it down and you begin to think about it. Look at the abundance all around you as you go about your daily business. You have as much right to this abundance as any living

creature. It's yours for the asking. Now we come to the difficult part. Difficult because it means the formation of what is probably a brand new habit, and habits are not easily formed. Stop thinking about what it is you fear. Each time a fearful or a negative thought comes into your mind, replace it with a mental picture of your positive and worthwhile visual goal. And there will come times when you feel like giving up. It's easier for a human being to think negatively than positively. That's why only 5% are successful. You must begin now to place yourself in that group. For 30 days you must take control of your mind. It will think about only what you permit it to think about. Each day for this 30 day test

do more than you have to do. In addition to maintaining a cheerful positive outlook, give more of yourself than you've ever done before. Do this knowing that your returns in life must be in direct proportion to what you give. The moment you decide on a goal to work for, you're immediately a successful person. You are then in that rare and successful category of people who know where they're going. Out of every 100 people, you belong to the top five. Don't concern yourself too much with how you're going to achieve your goal. Leave that completely to a power greater than yourself. All you have to know is where you're going.

The answers will come to you of their own accord and at the right time. Remember these words from the Sermon on the Mount and remember them well. Keep them constantly before you this month of your test. Ask it and it shall be given to you. Seek and ye shall find. Knock and it shall be opened to you. For everyone that asketh, receiveth, and he that seeketh, findeth, and to him that knocketh, it shall be opened. It's as marvellous and as simple as that.

In fact, it's so simple that in our seemingly complicated world, it's difficult for an adult to understand that all he needs is a purpose and faith. For 30 days, do your very best. Go at it as you've never done before. Not in a hectic fashion, but with a calm, cheerful assurance that time spent will give you the abundance and return that you deserve and want. Devote your 30-day test to completely giving of yourself without thinking of giving anything in return, and you'll be amazed at the difference it makes in your life. No matter what your work, do it as you've never done it before, for 30 days.

And if you've kept your goal before you every day, you'll wonder and marvel at this new life that you've found. Dorothea Brunday, the outstanding editor and writer, discovered it for herself and she talks about it in her fine book, Wake Up and Live. Her entire philosophy is reduced to the words, act as though it were impossible to fail. She made her own test with sincerity and faith and her entire life has changed to one of overwhelming success. you make your test for 30 full days don't start your test until you've made up your mind to stick

with it you see by being persistent you're demonstrating faith persistence is just another word for faith if you don't have faith you'll never persist if you should fail on your first 30 days and by that i mean if you should suddenly find yourself overwhelmed by negative thoughts you've got to start over again from that point and go another 30 days and I'm going to interrupt myself here to suggest that you actually need to be doing this for a minimum of 60 days in a row

if you're going to start changing your beliefs and replace your bad habits with rewarding rituals gradually your new habit will form until you find yourself one of the wonderful minority to whom nothing is impossible and don't forget this card It's vitally important to this new way of living. On one side of the card or on your phone screen saver, record your goal, whatever it might be.

On the other side or below it, write the words we've quoted from the Sermon on the Mount. Ask and it shall be given you. Seek and ye shall find. Knock and it shall be opened unto you. In your spare time during your test period, read books that will help you. Inspirational books like Dorothea Brandeis' Wake Up and Live, The Magic of Living by Claude Bristol, Think and Grow Rich by Napoleon Hill,

and other books that instruct and inspire. Nothing great was ever accomplished without inspiration. So during these crucial first 30 days, and I say 60, your own inspiration is to be kept at a peak. And above all, don't worry. Worry brings fear and fear is crippling. The only thing that could cause worry during this test is trying to do it all yourself.

Know that all you have to do is to hold your goal and your vision before you. Everything else will take care of itself. Remember also to keep calm and cheerful. Don't let petty things annoy you and get you off course. since making this test is difficult some will say why should i bother well look at the alternative no one wants to be a failure no one really wants to be a mediocre individual no one wants a life that's constantly filled with fear and worry and frustration therefore remember that you must reap

what you sow if you sow negative thoughts your life will be filled with negative things if you so positive thoughts, your life will be cheerful, positive, and successful. Now, gradually, you will tend to forget what you've heard on this recording. Keep reminding yourself of what you must do to form this new habit. Gather your family and friends around at regular intervals and listen to what's been said here. Most people will tell you that they want to make money without understanding this law. But the only people who make money work in a mint. the rest of us must earn money this is what causes those who keep looking for something for nothing

or a free ride to fail in life the only way to earn money is in providing people with services and products which are needed and useful we exchange our time and our product or service for the other's money therefore the law is that our financial return will be in direct proportion to our service. Success is not the result of making money. Making money is the result of success. And success is in direct proportion to our service. But most people have this law backwards. They believe you're successful if you make a lot of money. The truth is, they can only earn money after you're successful. It's like the man who stands in front of the fire and says to it, give me heat and then I'll add wood. How many people do you know, or

do you suppose there are today, who take the same attitude towards life? There are millions. We've got to put the fuel in before we can expect heat. Likewise, we've got to be of service before we can expect money. Don't concern yourself with money. Be of service, build, work, dream, create. Do this and you'll find there's no limit to the prosperity and abundance that will come to you. Prosperity is built on a law of mutual exchange. Any person who contributes to prosperity must prosper and turn themselves. Sometimes the return will not come from those that you serve, but the return must come to you from some place because that's the law. For every action, there's an equal and opposite reaction. As you go daily in your 30-day

test period, remember that your success will always be measured by the quantity and quality of the service you render. And money is a yardstick for measuring this service. No one can get rich themselves unless they enrich others. Now, there are no exceptions to this law. you can drive down every street and from your car estimate the service that's being rendered by the people living on that street. Have you ever thought of this yardstick before? It's interesting. Some, like ministers or priests or other devoted people,

measure their returns in the realm of the spiritual, but again, their returns are equal to their service. Once this law is understood, any thinking person can tell their own fortune. If you want more, you must be of more service to those for whom you receive your return. If you want less, you only have to reduce your service. This is the price you must pay for what you want. If you believe you can enrich yourself by deluding others, you can only end by deluding yourself.

It may take some time, but as surely as you breathe, you'll get back what you put out. Don't ever make the mistake of thinking that you can avert this. It's impossible. The prisons and the streets where the lonely walk are filled with people who try to make new laws just for themselves. We may avoid the laws of man for a while, but there are greater laws that can't be broken. An outstanding psychiatrist, Dr David Harold Fink,

pointed out six steps that will help you to realise success. 1. Give yourself a definite vision and goal 2. Quit running yourself down 3. Stop thinking of all the reasons you can't be successful Instead, think of all the reasons why you can 4. Trace your attitudes back through your childhood and try to discover where you first got the idea that you couldn't be successful if that's the way you've been thinking

5. Change the attitude you have of yourself by writing out the description of the person you'd like to be. And six, act the part of the successful person that you've decided to become. Do what the experts since the dawn of recorded history have told you that you must do. Pay the price by becoming the person that you want to become. It's not nearly as difficult as it is living unsuccessfully.

Make your 30-day test, then repeat it. Then repeat it again. Each time it will become more a part of you until you wonder how you could ever have lived any other way. Live this new way and the floodgates of abundance will open and pour over you more riches than you may have ever dreamed existed. Money? Yeah, lots of it. But what's more important, you'll have peace.

You'll be in that wonderful minority who lead calm, cheerful, successful lives Do what the experts since the dawn of recorded history have told us to do Pay the price by becoming the person you want to become Again, it's not nearly as difficult as living unsuccessfully Start today You have nothing to lose But you have your whole life to win now i don't know about you but these prophetic and inspirational words have changed the course

of my life and i hope they start you on a journey to do the same if you haven't already and when do you think this was written would you believe it was released way back in 1956 and apart from some of the language it could have been written yesterday and it's just as relevant now as it was then in fact probably more so It just reiterates to me again that the only thing we learn from history is that we don't learn from history. And if you want to learn more about the current neuroscience and the scientific approach that supports Earl Nightingale's insights,

grab yourself a copy of Dr. Joe Dispenza's book, Becoming Supernatural. It's an absolute must-read. So to get you started creating your life vision, I want to issue you a challenge. It all starts with imagining and creating a clear, detailed vision of how you want to live. You just can't skip this step or do it superficially. You need to eat, sleep and breathe your future vision every day, in full technicolour, using all your senses.

So your feelings of abundance, joy, freedom and gratitude radiate the energy that attracts your vision to you and transforms your vision into reality. As Albert Einstein so famously said, Imagination is everything. It's the preview of life's coming attractions. Imagine how good your life will be when you're living your ideal lifestyle. And it all starts with that simple saying, what we think about and what we feel about is what we bring about.

Now, imagining and creating your life vision is simple but not necessarily easy. It's not just simply saying, I want an easy life. I want more money. I want to be rich. I want to travel. I want, I want, you fill in the dots. Your dream life vision needs to be a very specific, fully engaging experience so you can actually see yourself doing it and living it in vivid detail.

For me, my detailed diary description of my ideal day from dawn to dusk has kept me inspired, interested, energised and engaged for years. Without realising it day to day, it's become my reality. so to help you with a fun and energizing step-by-step guide and a range of options along with my personal examples that will help you to create your ideal life vision in a way that's meaningful memorable magnetizing and motivating for you i'm going to give you a free complimentary copy of chapter 14 of my book the freedom formula that gives you all of the information, the inspiration and the implementation to make it all happen. Just jump on our website

knowhowproperty.com.au, hit the get in touch button, fill in your details and put living by design in the comments section or just email me direct at bushey at knowhowproperty.com.au and we'll send you a copy. And as an added bonus, if you include your answer to the question what would I really love in my life, I'll give you a free copy of my introductory book, Get Invested, that normally retails for $17.25. I challenge you to do this today. Will you be one of the future 5% of winners?

Or are you going to remain one of the 95% of victims and workers? My bet is that most of you won't reach out. You'll continue to allow the urgencies of life to get in the way of the important, and you'll put it off thinking, I'll get back to it later. but you never will. So I challenge you to prove me wrong.

I'll be interested to see how serious you are about changing your life. Then all you need to do is follow Jamin Fraser's words of wisdom from last week's episode by constantly making sure you're in the right state, managing your energy and becoming and being the person you need to be. And remember Jamin's words, winners orientate their life differently

from the majority of victims and workers. Winners operate on the basis of be, do, have. Winners say, it's not what do I need to have before I can start or what work do I need to do, but who do I need to be? What kind of person would have access to the kind of outcomes that I want? Then, being that kind of person, what would I be doing? When you get that right, the having takes care of itself. so dreaming decades and doing days and if you want to help with meditation techniques that

will help you to get you in the right energetic state so you can manifest your life vision and make it become real then come and join me and other vision manifestors in the awesome weekly sessions that world-leading intuitive craig wilson runs check craig out craig out at craig wilson.com or email him at info at craigwilson.com that's c-r-a-i-g-h wilson so craig with a h craigwilson.com and if you mention bushy he'll welcome you with open arms also check out craig wilson's episode on get invested to get an idea of what he can do for you and once you're clear on the lifestyle you want all you then need to do is understand how much money you need to fund what's important to you, and then become the type of person who values wealth creation.

And to help you do this, today's guest, Ron Malhotra, comes to the rescue. Like me, Ron enjoys challenging you to ask you the hard questions and have the hard conversations. One of Ron's favorite quotes by Theodore Roosevelt is, Far better is it to dare mighty things, to win glorious triumphs, even though checkered by a failure, than to rank with those poor spirits that neither enjoy nor suffer, because they live in the grey twilight that knows neither victory nor defeat. Ron is an award-winning wealth planner, influence and success expert, an author, radio host, international public speaker, he's MD of Maple Tree Wealth, founder of the Successful Mail Global and creator of the Success Blueprint Program. He's been featured in Forbes, Australian Financial Review, Money Magazine, Smart Investor, Entrepreneur

on the ABC and many more. ron's passion is finding ways to improve your life he loves inspiring and teaching you to do things that you never thought possible the primary way he's chosen to make a difference is through education in the form of advising consulting mentoring coaching training speaking and writing that's a busy schedule ron now ron loves enabling ambitious people to create world-class careers and lifestyles with the results influence and affluence he educates on the psychology of achievement, wealth principles and strategies, success strategies, influence and leadership. The underlying philosophy that guides all his work is to enable you

to have fun, fulfilling and lucrative careers. Enabling you to live a better life and a lifestyle is what he does best. So during our engaging discussion today, we delve into why we don't like talking about wealth and money. Who is at most risk in the future and what you can do about it? He talks about his unique SISPIP sequence for successful wealth creation. And he reveals his Future Millionaires Academy to help with your money psychology and the three types of people. And if you enjoy our chat as much as I did, then you can secure a special Get Invested 20% discount for Ron's next program launch of the Future Millionaires Academy if you email info at ronmalhotra.com, that's R-O-N-M-A-L-H-O-T-R-A.com, with the subject line,

Get Invested FMA, along with your name, contact number, and an email in the body of the email. Now, despite all of the evidence of the eons that you've heard today, I'm betting that some of you are still thinking, yeah, well, I'm sure all this worked well in the past, but we're living in unprecedented times of radical uncertainty and rapid change, so this no longer applies. Doesn't it? Are you sure?

Ralph Waldo Emerson wrote, If there were any one period in time when one would desire to be born in, is it not the age of revolution, When old and new stand side by side and admit of being compared, when the energies of all men are surged by fear and by hope, and when the historic glories of the old can be compensated by the rich possibilities of a new era. Times of great change bring even greater opportunity, and we're living in another of those times right now.

And do you know when Emerson wrote this? In the mid-1800s. Many of us continuously think that our current situations are unique so that the past doesn't apply. The reality is that nothing's new. The present is just dressed in different clothes. And the more surface things change, the more the underlying principles remain the same.

So before getting invested and inspired by Ron Malhotra, let me leave you with the inspiring quote that helped Nelson Mandela survive 29 years of imprisonment for no reason doing hard labour every day chipping away pointless at stone and then going on to become the president of the country that had condemned him. Every day for three decades

he remembered and repeatedly recited in his head the following poem Invictus by William Ernest Henley. Out of the night that covers me black as the pit from pole to pole I thank whatever gods may be for my unconquered soul. in the fell clutch of circumstance i have not winced nor cried aloud under the bludgeonings of chance my head is bloody but unbowed

beyond this place of wrath and tears looms but the horror of the shade and yet the menace of the years finds and shall find me unafraid It matters not how straight the gate, how charged with punishments the scroll. I am the master of my fate. I am the captain of my soul. Each of us is the master of our own fate and the captain of our souls. We can overcome our fear with feelings of gratitude. We can overcome our fear by living by design, not by default. Our perception drives our reality.

In life, you don't always get what you deserve, but you always get what you expect. So expect the best and reject the rest. Dream in decades, do in days, and remind yourself that what you think about and what you feel about is what you bring about. Now, let's enjoy this great conversation with Ron Malhotra. welcome back freedom fighters now in my experience there are very few people i've come across who have the self-belief the courage and the resilience to both have the clarity and the self-confidence to know where they fit into the world and how they're going to help you to change

it for the better you know those select few who embrace money and wealth as an enabler of good not of evil those rare few who are comfortable confronting questioning and challenging you on how you think and how you behave. Those rare few with good hearts and strong minds. The rare ones who are totally comfortable in their skin and are on an unwavering mission to make you and the world a better place. Today's guest is one of those rare humans. He shares my vision that everyone has the ability to achieve sustainable holistic success by integrating time-tested self-health and wealth principles through magnification. And right from the first time I met Ron Malhotra a few years ago, I was immediately impressed

by his calm self-assurance and his fearless, limitless approach to life. So I'm really looking forward to exploring this in our deep dive chat today. So welcome, and let's get invested, Ron. Bushy, thank you so much. That was a wonderful introduction. It's an honor to be here. Thank you very much, and thank you for putting a positive spin to a message that connects with money.

Yeah, absolutely, Matt. But I think it's – unfortunately, I think we share the same passion and purpose in relation to helping people to embrace money as a friend and as an enabler to help them to do some wonderful things in the world. But, mate, before we get into some of those subjects, can I get you to tell us who you are, what you're doing, and where you're currently heading, please, Ron? Yeah, look, I mean, when people ask me, Ron, what is it that you actually do? You've got all these different descriptions and you've got these different companies and brands. My response usually is, look, I'm a teacher by spirit. I have a real passion for enabling people and I find that advisory, consulting, speaking

and writing, basically they're all forms of teaching. And effectively, what I've done is because of my own life and my background and some of the problems that I have encountered as well as solved for myself, I have become extremely passionate about enabling people to design the lifestyle that they want. I'm big on lifestyle myself. I believe everyone should have a wonderful lifestyle. And that's why I specialize in the area of factors that contribute to a lifestyle that people would enjoy and a lifestyle that people actually desire. Beautiful. Well, I'm going to deep dive into that later on. But just to sort of embellish that a little bit more, why do you do what you do, Ron?

Look, I came from a background, a middle-class background. Both parents were educated. When we migrated to Australia, I was very young, and there was a lot of problems at home, and unfortunately, I had to move out, and the only place I could afford to live was a commission house in Chaston, which, for those of you who are from Melbourne,

you'll know the area quite well. So this is going back about 30 years now, And, you know, the only place I could afford the rent was a commission house. And there was five guys that lived in that commission house. And the guys were, there was an ex-convict. There was a guy who had a problem with drugs. And the other two guys were, the other three guys were unemployed. And this was a three-bedroom house.

And because I was paying the most, I actually got a room to myself. And one day I came back from my shift. I used to work at a retail store in East Malvern, and I came back and I saw a number of police cars parked on the street. And they walked up to me and they said, is your name Ron? And I said, yes. And they said, well, we found some drugs in your room. Have you been selling drugs? And I said, no, they're not mine.

And they said, have you got any idea who they belong to? I said, they belong to the guys that live here. They do drugs. I'm guessing that they're theirs. They said, thank you very much. We believe you. and they left but the moment I walked in these guys shut the door they locked the door they were they were very pissed off because I had they felt that I had dropped them in and for the next

20 minutes I copped a severe beating where I was punched and kicked and I was in a fetal position trying to protect my face for about 20 minutes finally got up went to the room I had a look at my face in the mirror I couldn't recognize myself I think for me that was the catalyst I kind of realized that not having money meant, you know, being at the mercy of other people or being reliant on other people. And I think from there, I developed the appetite to become financially successful. But Bucci, unfortunately, it wasn't a healthy reason. I think I was almost trying to prove something to myself and to others. But that's how my quest for money started. And unfortunately, it wasn't until the age of 30 that I realized that the way I had gone about it was

the wrong way. But this is just to give you some background as to why I became, I felt, you know, money is an area that most people don't understand. I had seen a lot of heart-centric people, good people who didn't have money, my own parents, pretty much anyone around me who I had, you know, they were, a lot of the times they were professionals, they had done formal education, but they still didn't have money and so I felt that this was an area which was obviously misunderstood a lot of people didn't understand how this money thing works and so that became an obsessive quest to try and master this area. Yeah brilliant so tell us the steps that you went through then to one master money yourself and then move on to start helping others I'd love

you to share some of that if you don't mind. Yeah look in the beginning when I started I really didn't have a desire to help anyone I just wanted to help myself in the beginning like any I suppose a young teenager I was just wanting to make sure that I had the money and I thought the best way would be for me to try and get a job at a bank because if once I'm at a bank I can sort of learn about money and I don't know if you remember the old I'm sure you remember the old Bank of Melbourne um cut the cost of banking um that's where I got my first uh first gig and uh but I was terrible at counting cash so I got a job as a teller and they people had to stay back and they had to help me count cash on a daily basis. And I remember the manager once said to me, she said,

look, I can't have you on cash every day because people have to stay back. Why don't you go out and stand at the door and greet people until we work out what we're going to do with you? And all I did was I stood at the door and I greeted people. And I was very curious about learning why people were coming in, whether depositing money, whether they were pulling out money. And I started to have conversations with people. And over a period of time, what happened was people started to go up to the manager and they started to say, we like this guy he's either bank manager he's very uh he's very um approachable he's very um personable and uh you know and and then one day i this guy walked in in a suit and i him and i started to

chat and he really he said to me i want to talk to you some more i'm the regional manager and i think you'd make a good financial advisor and i thought to myself how can they make me a financial advisor i'm i'm broke i've got no money at all i don't know anything about money but i think i think back in the day uh if you had the gift of the gab or they thought you had the gift of the gab or they felt that if you could sell um you you know they would put you through a couple of months of training and you'd get this business fancy business card saying that you're a financial advisor and um that's how i got my first financial advisory position and i went up to my dad and i said dad look i'm a financial advisor and my dad looked at me and he said but you broke

and it didn't it didn't i didn't quite understand how they could have you be a financial advisor because at the back of my mind, there was always this thing that was bothering me. Don't you need to have mastered money before you can be an advisor to other people? But obviously, back in the day, the banks didn't care. They cared more about your ability to sell. And I absolutely hated the job. 18 months of trying to sell people superannuation investments and insurances. And I thought, this is not what financial planning is about

because there is no planning here. It's just selling products. And I decided to quit. But I didn't lose my passion for money. So what I did was, I remember I was in South Yara, I'd just gone out, and we were having breakfast outside this cafe called Ciappelli's. I don't know if you've ever heard of it. They're very popular. I don't know if they're still there or not, but it was many, many years ago.

And there was a newspaper sitting there outside on the table, and it said, 60% of the world's assets are controlled by 1% of the world's population, or something on those lines. And I thought to myself, how is that possible? Are you telling me that the rest of the people in the world, the 99%, only have the 40% and the 1% control 60% of the world's asset? And that was the first time I came across the concept of wealth disparity. But then further, when I looked into it, I started to reflect back on my conversations with all the people that had walked into the bank. And I started to realize that there was a way that successful people thought, and there

was a way that people who were struggling financially, they had these predictable thinking patterns. And I started to connect the dots and started to realize that psychology had a lot to do with how much wealth people create. Now, interestingly, probably about 10 years ago, I came across this statistic, a research done by the University of Canberra. They've got a center called the National Center of Economic and Social Modeling, which they did this research and they found that 80% of Australians retire with less than $100,000. That was a huge shock. And I thought, how can that be? I mean, everybody seems to be driving nice cars, people have good homes. Are you telling me that all these people, they've got this lifestyle and they've got these incomes,

but when it comes to assets, most people fail miserably. I then further did some research and I found that it wasn't any different in the United States. I mean, in America, you have 19 million millionaires, but if you actually put all the millionaires in the world together, according to a report called the Global Shift in Wealth, there are approximately 49 million millionaires on the entire planet. Now, if you actually break that down as a percentage of 7.8 billion people on the planet, it's not even a percent. And not that a million bucks is a lot of money. And when I started to then look at the fact that where are we heading, longevity trends are telling us that the average 40 year old today is expected to live well into their 90s

where's the money going to come from is if no one's no one's talking about wealth people hate talking about wealth in australia we have the tall poppy syndrome anyone that talks about wealth especially if they've got if they're wearing a slick suit immediately we start to make this connection that this person is arrogant they're greedy they're all about money and what's interesting is as i did further research i found that most if you actually watch most movies hollywood movies you will find that the bad guy in most movies is that plays the character of somebody who either has a lot of money or is very money-minded and i realized that we had been conditioned right from the beginning to feel this eek factor with wealth and with wealthy people

And psychologically, we are ashamed to admit that we want wealth or to tell people that we aspire for wealth. Why is that, Ron? It is a conundrum that I sort of tackled many times over the years and tried to educate people. But that subliminal message that sits behind what you've just described there, it tends to overshadow that. What do you think that is and what can we do about it, Ron? Well, I think there's a number of contributing factors. First of all, we've attached a lot of honor to the Aussie battler. So the guy that basically is financially irresponsible and is unable to get things happening is not really adding a lot of value in the marketplace.

We've attached a lot of honor to that type of character, those kind of characters when we show them on Today Tonight or Current Affair. The average person emphatically feels a lot of empathy for this type of character. Whereas if you see somebody who is financially successful, we tend to look down on them. We tend to judge them. We've also attached this twisted honor to poverty in a way. Like when I say poverty, obviously poverty in the Western world doesn't mean that you haven't got a home to live in. But poverty as in, you know, like I see if you look at all these, what do you call it, the funding campaigns. I think they're called Fund Me or something like that.

it's incredible that we feel so much sympathy and empathy for those who become homeless or for those who are unable to afford basic expenses but we never really ask ourselves how they got to that point and look there's so much research to suggest that giving handouts to people doesn't really help in the long term all it does is it reinforces helplessness it robs them of their dignity and it never really puts the responsibility back on them to get their financial house in order. But we also, at the same time, I think we have had 29 years of prosperity. So, you know, we don't value wealth because we've never needed it. The fact is that even the most average performing worker in Australia can get by, live in a decent suburb, have a reasonably decent house, drive a

reasonably decent car, can spend still some spent time on the beach. So, you know, we haven't really had those difficult times which would um instigate us to start taking wealth creation seriously but i have been saying this for the last 10 years things are about to change and i believe that this covet 19 is uh should be a wake-up sign to a lot of people because i reckon we are about to go into uh this painful period and people are going to start to realize that if they if we don't become more innovative, if you don't lift our performance, if you don't become more responsible, we're going to start to have some serious pain. Absolutely right. And I totally agree with you. And it's an inconvenient truth, I believe, that the chickens are about to come home to roost

with the flow on from the pandemic. And that those who have been looking to the future and you know putting stuff away for the rainy day should sail through this reasonably easily not not painlessly but there's going to be a lot of hand-to-mouth australians who are really going to be challenged by it what what are your thoughts around uh you know given that wake-up call what what can and should hard-working aussies be doing to avoid putting themselves in a similar situation when similar occurrences occur in the future, and they will? Well, the first thing is we've got to have the realisation that crisis times the recession, corrections, crashes,

they're very normal, and we've had them every seven or eight years, something of a major... Like, if people right now say to us, you know, that, look, I've lost everything because of COVID-19, my response typically would be, no, you haven't lost everything because of COVID-19, you've lost everything because of lack of preparation. yeah now this is a blunt message of course and as you can imagine it's never well received

but the fact is it's not going to help anyone until they learn how to confront the truth and the truth of the matter is that there are going to be people households and businesses that are going to do very well because they were prepared they had contingency plans risk mitigation plans plans in their investment portfolios to write out these types of things and then there's going to be people that are going to be wiped out and this happens in every single crisis i think so i think the first thing is we've got to understand that if you get into the water and you're on a beautiful vessel you've got a beautiful ship at some point the storms are going to come in and you can't say well my ship sank because the storm came in you've got to go

into the water knowing that the storm's going to come in and you've got to be well prepared so that's the first aspect yeah the second part is i developed this model called the cis pip model S-I-S-P-I-P. And what it basically stands for is what I call the sequence of wealth creation, starting with skills, then income, then savings, then protection, then investments, and then preservation. And the first thing I tell people is, look, if you want to be able to get your money in order, the first thing you've got to do is develop the types of skills that are in demand and we're no longer in the information economy we're in the social slash digital economy and you need to get you need to upgrade your skills to develop the types of skills that will

allow you to influence your income majority of people don't have skills that are going to be in high demand i mean we know that with the what's been predicted what's coming now over the next 20 years is artificial intelligence the automation and outsourcing trends are going to continue and what you're going to find is that a lot of people are going to suffer from job losses or high pressure at work or downward pressure on their salaries and they're going to find themselves completely not prepared for the new world the new world you know where if you i don't know i'm not sure what your um life stage what life stage you're at bushy but me being a i'm 42 and you know when i mean i was young the epitome of career success was to become a professional

you know go and get your degree and you know once you have a degree uh you're a professional and then and then you're going to be right for the rest of your life well that is no longer true today being a professional is by far the most competitive pool to be in uh it is also uh there is an oversupply of professionals uh because now we're in a globalized world you're not just competing with people in australia you're starting to compete with people in indonesia It's starting to compete with people in Bangladesh, all over the world. Today, if you're an accountant, you've got a CPA, and you're in Vietnam, you can do the same quality work that an accountant can do in Australia. But if you want to hire an accountant, you only have to pay them 20 grand.

So, we have to know where the world is going, and it's about being adaptable. You know, as Charles Darwin said, it's not the strongest or the fastest of species that survive. It's the ones that are the most adaptable. And the Aussies have to start becoming more adaptable. And we have to start to realize, look, this is what's going to happen. Everything is telling me that I'm going to live a long time. Everything is telling me that I'm not going to have enough money. Everything's telling me that there is going to be pain and there's going to be a restructure across every industry.

What am I going to do about it? And part of that is the first thing they've got to do is they've got to start to develop their skills. One of the biggest disruptive trends that is going to happen in the world right now, which has already started, is a move towards entrepreneurship. Even if you remain, you're lucky enough to maintain an executive position, a professional position in a large corporation, you still need to think like an entrepreneur, meaning you're an intrapreneur. But the employee mindset, that is going to be the biggest issue.

You don't have to be an entrepreneur, but you've got to develop an entrepreneurial mindset. I totally agree. Yeah, no, very well said. And the sad fact of it is that, you know, that generation coming through who saw the professional role as the Holy Grail, they're now most at risk for the reasons you've just described. So if that cohort are starting to think long and hard about how they can distinguish themselves and acquire the skills that you've so well described that are going to help them survive by solving problems, by connecting with others and becoming a catalyst for change, then life's going to be pretty tough. Well, that's right. And so you've got to solve the skills problem. And I believe your skills need to be at a point where you can influence your income. Once you know you can influence your income, then from there, I believe you need to save about three to six months worth of your salary in a savings account. Then you've got to take care of all of the protection part, which is basically having risk mitigation, contingency plans, insurances in place.

Only when you've done all of that, you are now ready for some investing. And I think a lot of people are bypassing these steps. And the issue is if you start to take up investing prematurely, what's going to happen is you're not going to be able to sustain your investment portfolio. You're not going to be able to hold on to your assets for a long period of time. And as Charlie Munger said, 10% of money is made in this buying, 10% is made in the selling, 80% is made in the waiting. But you're not going to be able to wait it out if you haven't got a plan in place and you have not taken care of the foundational elements, which is your skills, your income, your savings, and then you've got to start investing. My concern is that majority of people aren't even aware that this problem exists and they're completely ill-prepared for what's to come and they're hoping that they can hide behind

their qualifications, they can hide behind their degrees, they can hide behind their titles, they can hide behind their corporations, branding, and somehow manage to get by. And in my wealth advisory practice, I have already a number of clients who are in executive and professional positions. They're already going through pain. They lost their jobs. some of them lost their jobs two years ago. And I don't know any one of them, not a single one of them has been able to get back into the workforce at the same level of remuneration that they were

used to, that they were getting paid, because things have changed. So that's why we, in many cases, we're encouraging people to either build these high income skills, look at ways to build their personal brand, look at developing a consulting or some sort of advisory practice on the side if they've already got the skills, understand how to position themselves differently in the marketplace and promote themselves in a way that is not tacky so that they can continue to develop a number of streams of income because if you don't take care of the income problem first, well, you can't take care of their wealth creation problem. Exactly right.

It's all about those foundations that you're talking about, Ron, and that's a really good way to sum it up in those simple terms. So for those that are facing those challenges and the pandemic is really highlighting that, there'll be a lot of people sweating right now and a lot of fear that's permeating people's psyches and fear is not a great way to move forward. How can you help them overcome those fears to start to approach that framework that you've just described? Yeah, look, I mean, the conversation that we've had seems a bit negative, but it's not intended to be. And the last thing we would want is for people to, you know, retreat into a vibration of fear because you've got to understand psychologically when we are feeling fear, we are going to make a certain type of decision. And typically when you're feeling fear, you're not going to make the types of decisions that are going to move you forward.

it. So, the first thing we've got to do is we've got to monitor our emotional state and we've got to take an objective view of where the world is going. I also believe that many professionals and executives underestimate their skill set. I would, you know, I have a number of clients that we have assisted transition from employment into developing a six or multi-six figure consulting practice. And the first thing I get them to do is write down every single skill that you have and every single problem that you have solved in the last 10 years. And you might think, what's the big deal? Everybody does this stuff. But the fact is that most of us underestimate the skills that we have. So that's the first thing I get them to do. So I would encourage

all the listeners to take out a piece of paper and list every single skill that you have acquired over the last 10 years, both personal and professional. Personal skills are also very valuable. You may be a fantastic listener. You may have solved a particular type of problem. I think it's very important to start taking stock of what that skill set is. Start to then identify the top three or five problems that you actually enjoyed solving, because you've got to have some level of passion for what you do so that you can sustain yourself over the long term. So identify the things that you're really passionate about. Then identify where are the areas where you have a skill deficiency.

And the wonderful thing today is that if you have a skill deficiency, you don't need to do a three-year degree. All you need to do is find out exactly the area that you're deficient in. And through what I call a deliberate practice framework, you can now acquire that skill and achieve a reasonable level of competency within six months. there is no skill in the world unless it's highly technical or specialized that you can't develop in the next three or six months and for example I'll give an example I when I decided that I wanted to differentiate myself from the professional pool of financial

advisors I didn't want to sound like another financial advisor I didn't want to have the same message I didn't want to brand myself the same way I needed to differentiate myself so that I could connect with my target market one of the first things I decided was that I needed to get my thoughts out. And content is one mechanism through which you can do that. You can do white papers, but also realize that it was important for me to get published. I needed to talk about my perspectives on money and wealth. And so it was important for me to write a book. But I'd never written a book before. I had no idea what was involved in writing a book. So what I did was I said, well, okay, what does it take to become an author? Becoming an author is a skill set.

Let's break down this skill set into all the subskills that make up this skill. For example, I need to write a book. I need to know how to proofread the book. I need to know how to edit the book. I need to know how to format the book. I need to know how to publish the book. I need to know how to market the book. So, once I've broken down one skill set into the number of skill sets, I can then decide which ones I'm happy to outsource and which ones I need to learn myself. So, I realized, look, I needed to learn writing. I was happy to outsource proofreading and editing. I was happy to outsource design, but I didn't want to outsource the publishing

and I didn't want to outsource the marketing. So I said, okay, well, this is all I have to do. These are the skills I need to develop. And what I'm going to do is over the next six weeks, I'm going to take one skill and I'm going to spend 60 minutes a day developing that particular skill. So I took a very micro,

but a very disciplined approach towards learning everything that I could about that particular skill. So I spent... Yeah, but what I love what you're talking about there, Ron, sorry to disrupt. is the design process that I'm hearing you talk about. You've got a very clear vision on what the end goal is

and you've just broken those down into bite-sized mouthfuls so that it's quite achievable and then decided which parts you're going to chew on and which parts you're going to get others to chew on. And that process in itself, by starting with the end in mind and then working backwards to today is something that a lot of people just get overwhelmed by

and therefore either get paralysed, procrastinate or walk away. So I love the way you've broken that down. Yeah, and you're right, because that's one of the reasons why people don't develop their skills, because when the average person might say, well, I don't have the money, Ron, so I don't make enough money. And then I say to them, look, have you ever asked yourself why you don't make enough money? Oh, my employer doesn't pay me. But hang on, the money comes through your employer.

It doesn't come from your employer, it comes from the marketplace. The marketplace is placing a certain monetary value on your skills. therefore if you're not if you're not enjoying the money that you're making and you want to make more you need to ask yourself why haven't i got the types of skills that are in high demand and this is where as you said most people get overwhelmed and they think oh well i don't want to spend another three or four years learning a skill but you don't have to the wonderful thing is within weeks if you have a disciplined and structured approach you can acquire reasonable competency in any skill set sufficient for you to be able to add value to other people

and solve a complex problem and be paid for it. And this is how I taught myself all the skills I have learned, you know, because being a guy who only knew how to do financial advice, I had to learn how to write, how to run workshops, how to run an online business, how to do marketing funnels. And, you know, of course, I didn't do all aspects. I kind of decided which elements I wanted to outsource, and they were not in line with my zone of genius, and which ones I was happy to learn. And look, it happens very quickly. People have to, you have to understand, literally within two or three years, you would be shocked. If you

have a disciplined approach, you'd be shocked at what you can accomplish within two or three years. And the best time to start working on these things is whilst you're still in employment, have a plan B, even if you never lose your job, even if you're one of the lucky ones, that continues to have improved employment prospects in your career, I would still suggest you look at having an alternative way of making an income, but also you're building an asset base. The most wonderful thing about this world today is that, you know, you only had two career choices once upon a time, Bushy. You had either what we call traditional employment or what we call traditional entrepreneurship. And by traditional entrepreneurship, we mean having a factory,

having a warehouse, having an office, network marketing, services-based practice, wholesale, retail, whatever it is. But there is a third path. And the third path is perfect for any knowledge worker, like a professional or an executive. And the third path is basically taking what you know, branding it, and packaging it, and promoting it in the market with a unique value proposition in a micro-niche space, and then learning some fundamental skills around promotion, marketing and sales, and being able to develop a consulting, advising or mentoring or training practice on the side or to replace your income. And I'm telling you, I have helped, we have had, we've got clients in 17 countries. And every time they come in and they find that it's overwhelming

and I say, look, one small piece at a time, you will be shocked at how much you can accomplish within a six month period. But you got to start, you got to start, you got to start, you got to start now. Don't wait until you're in a position where your employer is putting pressure on you, where there's a redundancy prospects facing you, because then you're not going to be in the right vibration. You're going to be desperate. The best time is to put the plants, plant the seeds right now whilst you're in stable employment, because it also makes sense for you to have multiple sources of income. I mean, why would you put so much? I think, I mean, gone are the days where traditional employment was safe. I think it's the most risky thing you can do today

is have one source of income because you're literally one decision away from losing your income. You're three months away from being bankrupt and you're literally one decision away from losing the only source of income that you have. Somebody doesn't like you. Your boss doesn't like you. They have a temporary financial loss. They can get rid of you so fast. so yeah yeah you know what i mean i absolutely love what you're saying but i don't sound like i'm hearing myself with uh what you're talking about there one of the things i'd like to dig into here because it sort of it comes back to this aspect of self-control and delayed gratification i've done about you ron but one of the challenges i continue to have is that in this instant iphone

everything world where people are used to having everything right here right now trying to motivate them to see the benefits of making very small sacrifices in time or money now to have a major benefit later on continues to be a challenge. How have you tackled that and overcome that to help people see the benefits of that delayed gratification approach to life? Look, there is definitely a case for frugality. And if you read the book, The Millionaire Next Door, which was extensive research done self-made millionaires in the United States. And one of the things that they found that was common

amongst all of them was frugality, meaning delaying gratification. Now, look, I'm not a very frugal person. I like my lifestyle. Bush, if I were to be completely honest with you, I like my cars, I like my watches, and I don't like going without things either. So I kind of had to make a decision. Either I practice a lot of frugality, which I wasn't keen on, or I work harder and become a more valuable person in the marketplace so I can significantly increase my income. Now, that's not to say that I don't practice frugality. I certainly do. I spend less on lifestyle and I spend more on investments. I always put money into my investments, my superannuation, my property portfolio, my businesses before I pay myself.

Having said that, I don't like going without things either. So what I kind of decided was, look, I can't have it all. I'm going to have to make a decision here. If I want the good life, which I do. I like traveling. I like buying nice things. I'm going to need to become a more valuable person in the marketplace. I need to develop my skills. I'm going to have to determine what are the types of skills that are going to allow me to make the income that I want because I never want to be restricted with that. And so I worked on that. But look, having said that, even if you're making good income, the fact is that there is definitely a case for patience here, because if you want compounding to work for you, you need to be able to hold your assets for

a long period of time. And when I say the long period of time, the minimum being 10 years, it can be up to 30 or 40 years, depending on what your appetite for wealth creation is. But you need to have the ability to be able to buy and never sell. So it's a psychological issue and one that you've identified. And I think we are all addicted to distraction these days with constant stimulus coming our way through emails and social media. I recommend a book called Deep Work by Cal Newport. It's a fantastic book and it talks about the fact that one of the best capabilities that you can develop today is the ability to focus, meaning do boring work for long periods of time. And the reason I recommend that is because once you can tune and program your mind

to be okay with just being patient for long periods of time. So, I'll give you an example. I'm impatient with activity, but I'm patient about results. Okay? So, I have this, what I call aggressiveness around daily activity, but I'm very passive when it comes to expecting results. Yeah. Okay? Because you don't want to be passive around activity. You want to be aggressive around activity. And so, you know, that's one of the things we have to realize because it does take time to create wealth. It does take a little bit of patience. And to be honest with you, in Australia, we're spoiled. We've had a good life. I mean, I travel to the United States and I travel to a number of countries in Asia and I find that people have gone through

a fair bit of hardship and it's always at the back of their mind to be a little bit cautious and careful. We haven't gone through hardship. And unfortunately, when you had 29 years worth of prosperity, we lose some of our skills. We lose some of our capability to be able to ride out the tough times. And that's what you're seeing. You're seeing very high incidence of depression and anxiety because we're just not used to it. But I think there is a case for mental toughness. There's a case for resilience. And there's many, many people that are teaching you these things. So, I would say that if you're feeling mentally weak, don't be discouraged by it. It's something that you can work on. But yes, patience is

definitely a quality that we all need to develop so that we can create wealth. I absolutely agree that patience, resilience and persistence are the qualities of sustainably successful people. This is a great little pivot into your future New Year's Academy because I'm guessing that some of the skills that we've been talking about developing here are exactly the ones they're likely to encounter with the work you do with them with your Future Millionaires Academy. Can you talk to us a bit about that and what the opportunity is and how people can get on board with that, given that sensational initiative that you're about to launch? Yes. So, I mean, you must have come across the research by the Financial Planning Association

that only 15 to 20% of Australians seek advice. And part of the problem is that for people to seek financial advice or go to a wealth advisor, you need to have some investable assets or you need to have some disposable income. And the cost of a financial plan can range from anywhere from $5,000 to $20,000, which most people can't afford. And so, I kind of thought, you know, there is a lot of people who have the desire to learn. They have the desire to master money, but they haven't got the capability to be able to see a financial advisor. the cost benefit is just not there you know you're going to pay a financial advisor a couple of thousand dollars advisors don't make after their compliance cost they don't get to keep a lot of

that money but from a client's perspective it's still a lot of money so i thought to myself what about all these people who haven't even got the basic understanding of the principles and fundamentals that lead to wealth so i decided that i was going to launch something which was going to be accessible to people globally because the principles of money and wealth creation have never changed. And in this program, what I did was I talked about every single element right from the psychology of what it means to be wealthy to the habits, wealth habits, to understanding cash flow management, wealth creation, investing, wealth protection, wealth preservation. And it's not a substitute for advice, but it at least kickstarts people. And I have this thing called the wealth

sequence, which I talked about earlier, which I tell them strategically, step by step, how to start creating wealth. But I have a massive section in this particular program. It just talks about money psychology. And one of the things I explain to people is when it comes to money, there are three types of people, people who value money simply because it affords them necessities, people who value money so that they can exchange that money for lifestyle, and the people who actually value wealth creation and in my research only the third category ever become wealthy

the first category everybody needs money for necessities they will never become wealthy because they don't create they don't place any value on wealth creation they may place value on money but it's only because it affords the necessities the second category which is typically the middle class they don't value wealth creation either what they value is the lifestyle so what they do is they want to make enough money so that they can give that money away and get the lifestyle that they want. They want to socialize, they want to travel to Bali, they want to frequent good cafes and restaurants, bars, that's what they want to do with their money. So they don't actually value wealth creation. So they're also not going to become

wealthy. Only the third category of people who actually enjoy the art and science of wealth creation, they actually like to see their assets grow, they're actually driven and motivated and inspired by it, that's the only category of people that become wealthy. Now, when I share this with people, they're usually quite surprised. And I say to them, look, even if you don't value wealth, what we need to do is we need to help you ascertain what your primary values are. And then we need to help you understand how wealth will allow you to live by a primary value. For example, wealth is not even in my top three values, but my highest value is legacy. Now, what i've done is i've actually listed 50 reasons how wealth creation is going to allow me to live

by my highest value which is legacy so what that does is it motivates me to create wealth otherwise majority of people if you if you observe bushy you'll find that they want to make only enough money so that they get the necessities or they can buy the lifestyle and beyond that they will not push themselves they will not prioritize wealth creation simply because wealth creation is not high on their values list. Love it. Love it. That's an awesome hierarchy that helps people to place themselves right here, right now. And I'm guessing that what you're offering through Future New In-Ears Academy is one, an awareness that will help them to bridge that gap and elevate themselves into that wealth creation exercise by matching the highest values to how

wealth creation can make that happen. That's brilliant. Yeah, so that they can eliminate all negative associations around wealth, because that's the first thing they've got to do. Psychologically, they've got to get rid of all subconscious negative associations with wealth first. Then we told them strategically what the high income skills are, how much they need to save, how they need to, what percentage of income they need to allocate, what should they allocate it into. And we also show them how to calculate their magic number, which is the net worth number that is going to allow them to become financially independent so that they're at a point where the money never runs out. Love it. And these are basic fundamentals. They don't teach you this at schools.

They don't teach you this at universities. They don't teach you this in the workplace. So, the majority of people, unfortunately, don't have the tools to be able to do this themselves. And the programs are made very affordable. um it's a it's it's a thousand dollars u.s and the reason i did that was because i thought well a lot of people can't afford five ten fifteen twenty thousand dollars but if they are prepared to put a thousand dollars in within 12 months they are going to learn enough concepts for them to know exactly what they need to do to get to at least a million dollar outcome yeah and that's

being conservative and it's not uh it's not reliant on market performance i mean we don't need double-digit returns to get to that point. All you need to do is understand the fundamentals. If your plan requires you to get double-digit returns or acquire 10 properties, that's not a robust plan. That's what I call wishful thinking, and it's just not going to happen for most people. Totally agree. And it all comes down to that timeline. We have a concept we call the freedom numbers, which is exactly what you've just described. It's what's my lifestyle, what income sustain that lifestyle. Therefore, what size nest egg do we need to produce an income producing asset? So we'll give it there. And what's our timeline? And you put those together,

it's not difficult to establish what you need to do. And the good news is that if your horizon's at least 10 years, preferably 15 plus, then it's not that difficult. And we talked about delay gratification, but you don't really have to sacrifice much lifestyle if your horizon is long enough, you can still enjoy a fantastic lifestyle, but still be in parallel with what you're doing, investing in assets that are going to replace and sustain your income long term. So I love that, mate. Mate, we've only just scratched the surface and I know you're on a timeline today. So I'm going to get you back at some stage to delve a little bit deeper into some of these subjects because there's a lot of stuff that we haven't really had a chance to deep dive

into. But I'd love to bridge very quickly into what I call the ambush or the bushfire lightning around with just the five quick questions that the audience always loves to glean your words of wisdom on. And you've touched a few of these already, but your favourite quote and why, Ron? I'm just actually looking it up because I had it ready there. And my favourite quote is, having a degree without knowledge of wealth creation is like having a car without wheels. you have the vehicle but you're not going to go very far love it and it's i think itself it explains itself um and this is what we're finding you know people have jobs and degrees and what's the point if you can't manage your money if you don't know how to multiply and keep your wealth

what's the point and this is what the academic system is completely missing yeah totally agree totally agree uh we've mentioned a couple of great books during the chat already but the top book that you'd recommend listeners dive into and why look i probably recommend for a lot of australians i'd recommend um the millionaire next door which i made uh i i meant i mentioned it earlier as well and the reason for that is i think it's gonna it's gonna sit nicely with the australian psyche um we're not like americans where we're not overly ambitious in terms of Wealth. But it's a nice kind of book. It kind of gives you a lot of principles in it. It shares with you the common characteristics of self-made millionaires in America. And I've found, because

I've been in the financial services industry for over 20 years now, I find that a lot of self-made millionaires in Australia that I have come across share the same characteristics. So there'd be some very good takeaways from that for a lot of people. Yeah, brilliant. It is a great read, and I've certainly got that on the bookshelf myself. There's a slight change in pace here, but a lot of Australians believe and feel that they pay too much tax. What's the top legal thing that you've done to minimise the tax that you pay, Ron? Well, one of the best things you can do is to have the capitalist mentality. And that simply means you've got to understand that as long as you're thinking and acting like a labourer, you're always going to get taxed more. So you've got to

somehow find a way to make a transition into becoming a business owner or an investor or ideally both and it's very simple when you are a business owner or you're an investor you get tax breaks that employees typically don't get and you know one the whole it just opens up a whole new world because and then of course we are very lucky in Australia where we have the kind of tax benefits in terms of negative gearing and depreciation and capital gains exemption on the primary place of residence. We've got a number of things with real estate that we can start to use as well. And also we can start to, you know, looking at imputation credits and looking at the tax favourable superannuation structure. I'm not a big fan of relying on any

one tax strategy because, again, if they change the rules, that can hit you hard. But having three or four tax effective strategies working cohesively can really accelerate financial outcomes. Yeah, I love your thinking around this. You've talked a number of times now around multiple income streams, around diversification of the strategies so that you don't have all your eggs in one basket. So love your thinking around that. Switching back into the investment stream for a minute, can you share with us what's both the worst and the best piece of investment advice that you've ever received to date? Look, I think the worst advice that I've had is, you know,

you've got to have a certain number of properties. It means nothing. I mean, you can have one person who's got one investment property and is generating $70,000 per annum from the investment portfolio because of the way they're planned and structured. And you can have somebody who's got six investment properties and they're barely generating $20,000, $25,000 after tax. So the number of properties is irrelevant.

I think we need to go to the next. It's just very unsophisticated advice and it doesn't really work. So I think that's the worst advice and it's unfortunately the most common piece of advice that people are getting financially. The best advice that I can share, and I've just had a mental blank around this. I just had it on the tip of my tongue. Can I come back to that? You can.

let's flick into the personal habit that you believe contributes most to your investment success to date, Ron. I think it's the habit of paying myself first. And what that means is when I get paid, I have always taken a percentage of my money. And from a business financial perspective, a good percentage of money goes back into the operating account, goes into the tax account and goes into what I called business building account before we pay into the profit account. Now, we always pay ourselves a profit account because it creates an incentive for us to continue to make more money. And I do the same thing with personal, with my wage that I get, with the salary that I get coming in from my business. I make sure that a portion of that

is always going into my superannuation because superannuation is now, for me, the biggest way that i'm trying to create wealth over a period of time so i always make sure that i pay myself first and what that means is paying myself means paying my future first before i pay my present and that's been uh that's been i feel that that's been really helpful because as long as you're continuing to invest a percentage of money every month and it's a non-negotiable for me i'd rather go without a lot of other things but i can't i'm not going to go without investing and you know it's almost like there are things that we do, like, for example, if people, you know, miss out on their gym membership, you know, they feel frustrated about it. You need to create that

same sort of association around investing. If you don't get to invest in any single month or you miss out on investing, you need to feel the same level of frustration and pain. And until you get to that point where you have, you create that sense of urgency, you're just not going to prioritize it. yeah absolutely brilliant uh switching back to that best piece of investment advice is it had the light bulb since we spoke about it a minute ago oh damn um well i think look um i can't now i can't think of oh yes i've got it um so here's the best piece of advice that i've got and it's stuck with me over the years all unsuccessful investing is performance based all successful investing is planning based and i'm not saying this because this is what i do

for a living. I am 100% convinced that the more we are focused on performance, the worse decisions we're going to make on investing. And here is, I'll just illustrate a very quick case study. Let's just say you and I both were investing and I was getting a 35% return on my investment and you were getting a 7% return on your investment. But let's just say, Bushi, the way you had structured your finances and the way you had a proper contingency plan, you were minimizing your tax, by the time you got to the age of 65, you had a $5 million asset base. And me, even though with my 30% return, I only end up at $600,000 in my retirement. It makes no difference. Ultimately, it's not about the investment returns. There are so many other contributors of wealth creation.

And any wealth plan that solely relies on investment performance for a person to become financially secure is not a robust plan. And so that's why I'm just going to repeat that. All unsuccessful investing is performance-based. All successful investing is planning-based. Yeah, I love it. That's a really good way to sort of put your focus on the right fundamentals there. But in closing, if I gave you a microphone that spoke to every single one of the 7.7 billion people currently alive in the world and I gave you a minute to talk to them, what would you say? well i would say that money is not important but everything that is important requires money so you have a responsibility and an obligation to make sure that you have enough that doesn't

run out in your entire lifetime and i feel that look at the percentage of people that fall back on social security i just think it's unacceptable now when i say this obviously copied from people people think that i'm judging them i'm not judging them i'm just saying there is a massive case for financial responsibility here and my message is that yep even though money is not important unfortunately everything that is important requires money absolutely so true it's it's like oxygen in our capitalist world if you ignore it then you'll starve if you embrace it then you can enjoy life and make a positive impact on the world very well said mate i know you're on a tight time frame today you've been very generous and i feel like we've only just started to scratch

service so with your blessing we will get you back on to dip deep deeper on on some of the subjects that we both have a passion for and in helping others but uh very appreciative of your time for those who want to reach out to you and either get on board with uh the future millionaires academy or the other services you offer what's the best way for them to do that look just just connect with me on linkedin um that's probably i'm quite active on linkedin but otherwise you can check out our website, ramhotra.com. And Bushi, before we wrap this up, I just want to say thank you for the work that you're doing. I see any person who is advocating financial literacy and very generously offering a spot on their show to other guests to talk about their experiences

is doing a wonderful service. And I think people like yourselves are not always appreciated by the marketplace. And a lot of people don't appreciate the work that you do, but I certainly do. And thank you for your wisdom and being so generous. And you're a very generous host and thank you for allowing me to speak in great detail about my experiences yeah it's been brilliant ron and just enough to whet our appetite so looking forward to get you getting you back on board thanks it'll be a pleasure to be back thank you bushy talk soon bye well freedom fighters how good was that you get a summary of all this investment gold in the show notes just email me on hello at khgroup.com.au.

It's H-E-L-L-O at khgroup.com.au or check us out at www.bushymartin.com.au forward slash Get Invested. I look forward to joining you next week for another episode of the Get Invested podcast. So thanks for listening. And as always, dream as if you live forever and live as if you die tomorrow.

Thank you.