Admittedly, I used to think that way.
When I learned more about how economies work and how wealth is built in the real world, I realized that I was trapped in “small think” like others around me.
It was insular, even narrow-minded. It made me collapse inward on something small – one property.
Instead, I could expand outward. I could take accumulated equity out of that one property—100% tax-free with a cash-out refinance—and make down payments on others.
Now I could control three properties rather than one.
Then, a 1031 Like-Kind Exchange let me trade up the equity from one property for two or three others, with zero equity lost. It’s a tax-deferred event.
Though one must stay attentive to cash flows on trade-ups, that’s thinking and acting big. It’s an abundance mindset.
Oh, and all that was all true ten years ago.
Today, it’s more advantageous to borrow big since mortgage interest rates are now two points lower than CPI inflation.
I believe that this mindset dichotomy is typified with the mantra: “Don’t live below your means. Expand your means.”
Easy to say.
Harder to do.
So I shot this mindset video to help you with concrete examples about how to expand your means:
I bring in analogies from childhood and more to help build an abundance mindset.
Most people never accumulate much money due to a series of self-limiting beliefs fueled by negative emotion.
By the time the average person becomes an adult, he or she has been brainwashed with dozens of middle-class beliefs and philosophies about money.
They all virtually guarantee a life of less.
To many, “getting ahead” means working Waffle House hours and shopping with the price filter set from low to high.
Wealth is not a selfish mission.
You can only ethically create wealth by enriching others. If you add to prosperity, you must prosper too.
When you expand, you provide housing to more people
Living below your means lowers the ceiling on your potential.
Once you live a suboptimal quality of life—denying yourself a vacation to pay down good debt—you can never get that time back.
If this resonates with you, check out…
- How Rich People Think – Author Steve Siebold penned this inspiring book. The pages’ rich graphics are unusually beautiful too.
- How To Be A Time Billionaire – You can watch this video right now.
Thought getting your money to work for you creates wealth? It doesn’t! That’s a myth. My one-hour investing video course is now 100% free: Real Estate Pays 5 Ways. For a limited time, you can learn how wealth is really created, here.
