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Unlocking the Wealth Mindset: Beyond Money - Money and Investing with Andrew Baxter

 

When you think about wealth, what’s the first thing that comes to mind? For most, it’s probably money, how much you have, how much you want, and how you plan to get more of it. But here’s the thing: wealth isn’t just about having a fat bank account. It’s about how you measure success across different areas of your life, whether it’s your health, your time, or the values that drive your decisions.

Redefining Wealth: Beyond the Dollar Signs

Let’s get one thing straight. Wealth is more than just a number. Sure, having money is great, but true wealth is about balance. Think about your health. You could be sitting on millions, but if you’re not in good shape, what’s the point? The same goes for time. It’s the one resource you can never get back. No matter how much money you make, you can’t buy back time you’ve lost. That’s why how you choose to spend your time is a key indicator of your wealth.

The Wealth Mindset: Abundance Over Scarcity

Now, let’s talk mindset. A wealth mindset is about seeing the glass as half full, not half empty. It’s easy to get caught up in thinking that wealth is all about accumulating more, more money, more things, more recognition. But a true wealth mindset is about appreciating what you already have and making the most of it.

Growing up with less teaches you the value of having enough. It’s about finding security in what you’ve got, whether that’s a dollar in your pocket or the roof over your head. When you start from a place of abundance, you’ll find that you’re already wealthier than you think.

Knowing Your Values: The Foundation of Wealth

So, how do you build this wealth mindset? It starts with understanding your values. What’s really important to you? Is it your health, your family, your freedom? Whatever it is, your values should guide every decision you make.

For example, if you value your health, you’re going to invest in things that support it, like quality food, regular exercise, and maybe even the occasional massage. If time with your family is your top priority, you’re going to make career choices that allow you to be there for the big moments.

Aligning Your Actions with Your Values

Once you’ve got your values clear, it’s time to walk the talk. That means making choices that reflect what matters most to you. If you’re spending money on things that don’t align with your values, it’s time to reassess.

Let’s say you’re eyeing a luxury car. Ask yourself, do you want the car because it genuinely adds value to your life, or are you after the status it brings? If it’s the latter, you might want to rethink that purchase. Instead, consider investing in something that grows in value, like real estate or your own business. The point is to spend in a way that aligns with your long-term goals, not just your short-term desires.

Building a Wealth Mindset

Developing a wealth mindset isn’t about how much money you can stack up. It’s about creating a life that reflects your values. Start by being brutally honest with yourself: Are you where you want to be? If not, what’s holding you back? And most importantly, what are you going to do about it?

To build a wealth mindset, focus on these steps:

  • Clarify Your Values: Get clear on what matters most to you and why.
  • Align Your Actions: Make sure your daily choices reflect your values.
  • Prioritize Time and Health: Remember, these are your most valuable assets.
  • Embrace Abundance: Shift from a scarcity mindset to one of abundance, appreciate what you have instead of always chasing more.

The Bottom Line

Wealth isn’t just about money, it’s about living a life that’s true to your values. By adopting a wealth mindset, you can create a life that’s not just rich in dollars, but rich in meaning. Start today by figuring out what you truly value, and take action to build the kind of wealth that really matters.

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