Your attitude to investing and money in general is really everything when it comes to wealth creation.

Have a

If you don't think like a wealthy person (think abundance, rather than scarcity) then your attitude to investing needs to be looked at. Money will literally stay away from you if you think with a "pensioner mindset".

Thinking "I can afford that", or "How can I afford that?" is both more positive and leads to more creative thinking than simply cutting off your train of thought by saying "I can't afford that", or "I am too broke".

You are never "too broke" to do something.

There are thousands of other people out there (myself included) whose attitude to investing has literally taken them from nothing to immense wealth by never giving up.

When our daughter was born and our last landlord needed to move back into his house, I had no income and my husband was on first year apprentice wages. Clever negotiating got us into a house that was basically ours. It was cheap, it was run-down, but we worked at it.

I got a job, paid off debts from our failed business, developed ways of saving that still allowed us to complete repairs on the property , and in 18 months - a turnaround I still find a little staggering, so pardon me crowing a little - the property had increased in value by 20%.

That is in a flat market that was thought by the "experts" to be going backwards! It was all about our attitude to investing.

Check your so-called "experts" who say something "can't be done".

That phrase should be like a red rag to a bull for you as an investor, as long as you do your research. Most of the time these experts - especially professional financial advisers - either don't have the degree or training to back up their jobs, or they have the training but they still don't have first-hand experience of using the techniques and products that they are selling you.

It's true!

Next time you go to see your financial adviser, ask him or her if they are a multi-millionaire.

Ask them straight.

If the answer is "yes" ask what techniques they personally have used to get there. Mostly, if they are there at all (which is rare) it's purely from commissions for selling products to people like you. If that is their answer, or they can't answer you straight about their own personal wealth (within reason - not down to the last dime!)...

Sack them.

No, I am not suggesting you should never use a financial adviser, but ask them "What is your attitude to investing?", and especially to property investing if that is your interest.

If you find one that's prepared to be honest with you and share their own personal wealth creation techniques, then you are not only one of the luckiest people alive, you should also listen. Just make sure your listening goes together with a lot of reading of your own to make sure that you understand what they are doing!

Weed out the grumblers, or at least shut your ears to them.

Keep your attitude to investing positive. Hear no evil. I was on a property forum recently, and there was a guy there complaining all over the place about how hard the Australian government makes it for the small investor to get ahead.

Well, I never said it was easy, but the more I read, the more I realised that the new regulations he was grumbling about were the kind of things that the average family on less than $90K per year were never going to have a problem with anyway. And anyone over $90K per year wasn't going to be eligible for the benefits that were affected!

When I had quietly put this case so that others would see that it really wasn't all that bad after all, I noticed that this same person was saying he couldn't be bothered to take the time to fill out the forms for parenting assistance while he was staying at home parenting.

He said he was eligible for much more than the $60 he had been getting, but a bit of time was too much trouble for the extra income his family needed each week, and he had decided to start a home business that made him $60 a week instead.

But why not more? If you're prepared to put in the time to start a business (which takes way more time than filling out those stupid forms, and for much less reward), why not make more from the business and have a great lifestyle instead?

My impression was that he just couldn't be bothered to reach high. It was also odd: You're allowed to earn a bit more than $60 per week and still be eligible for the same level of parenting assistance anyway - but he had rejected that in favour of slogging it out...for $60 a week.

His "pensioner's" attitude to investing had blinded him to the facts and made him think mediocrely. This wasn't a pensioner - but the term applies to anyone who thinks that the state should support them in their retirement, and is happy to settle for a bare lifestyle in their latter years. It also applies to people who insist on doing everything the hardest and least-profitable way.

Did I mention that his investment property was also a negatively geared one? How hard can you make it for yourself?!

Think mediocre, and you will act mediocre. It's as simple as that.

Your attitude to investing is like your attitude to paying taxes.

My husband, Karl, always says:

"Instead of grumbling about GST and having to pay it, you should aim to pay a million dollars in GST."

Why on earth would you want to do that? It's all about your attitude to investing, and attitude to life in general.

"The answer, of course, is that if you pay a million dollars in GST, you've made ten million dollars!"

...and that really would be something!

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