Self Worth vs Net Worth
It’s a fact. Your level of income will rarely exceed your level of self-development.
But most of us are going to retire broke.
If you feel you’re worth more – then you’ll do everything you can to alter your financial circumstances.
According to a new survey by GOBankingRates, 64% of U.S. workers are expected to retire with less than $10,000 in dedicated retirement savings. The other 36% aren’t in great shape either. Just over 12% say they’ll retire with anywhere from $100,000 to $500,000, and only 4% are expecting to retire with over $500,000.
Your financial future is in your hands, and building a sufficient nest egg may be easier than you think.
Have you been learning about the stock market, property or business – so you can develop multiple sources of income?
I’ve traded the sharemarket since 1990, and I quit my job to be a full-time trader in 1996. Since then, with a few best-selling books under my belt, I’ve mentored thousands of traders who have made it their goal to beat those scary statistics, and develop a delicious lifestyle where they call the shots.
If not – then just what are you going to do to set yourself apart from these scary stats, and excel into old age?
When did you last make a budget or seriously talk about your spending habits with those you love?
The latest census information from the USA has sent the researchers scurrying away to find side spin-off projects to investigate. Did you know that 4 in 10 married couples have serious, recurring arguments about money? Those who have a written budget are 30% less likely to argue regularly than those without. Plus, of the battles, 49% argue about what to buy or not buy and at what price, 33% fight about debt and 26% about savings. (Source: Matt Bell, author Planning for Fewer Financial Fights with Your Spouse)
So if ever there was a time to work smarter instead of harder by developing alternative sources of income, that time is now.
Next time someone tries to convince you that money isn’t important, you’ve now got some ammunition. You are different from the majority. You know that to truly value yourself, you must also value your finances. You are the hedge fund manager of your own family’s net worth, and they’re trusting you not to stuff it up.
You don’t have to conquer it all in one day. It’s OK to make mistakes and to feel your way slowly. But be determined to move forward, learn more about making money outside your main source of income, and value yourself enough to realize that the future won’t just take care of itself.
Genius is not innate. Find a mentor to help you progress, and to tell you what to ignore and what to focus on. Don’t think that this game is beyond your skills. Focus on yourself, and realize that you are worthy of success. If we don’t make continuous improvement a priority, we will ultimately fail.
Some people have had things go far worse than your excuses as to why your life isn’t on target. And – they are running happily towards their goals, often bringing a lot of other enthusiastic people with them at the same time. There is no such thing as a ‘rich victim’.
There are dumber, less organised, less educated and less attractive people than you making money from a side-hustle right now. I can tell you one quality they share. They aren’t prepared to accept what you may be accepting right now. They aren’t happy to trust their financial future to a hope and a prayer. They took steps, sometimes baby steps, in the direction of their education.
They got angry. They became intolerant. They succeeded. And you can too.
In our land of incredible opportunity, it’s disgraceful not to do well. There is no honor in being poor over the medium term. There’s no shame if it’s only temporary. However, if it’s a permanent way of life for you, something needs to change.
You deserve to be living your life’s purpose. You need to embody your purpose with all of your senses and dump your excuses before they take hold of your life.
Louise Bedford (www.tradinggame.com.au) is a full-time private trader and author of several best-selling books including –The Secret of Candlestick Charting, Charting Secrets and Trading Secrets. To pick up her free trading plan template, register on her website and she’ll send it to you straight away.