Are You Robbing Yourself?
Aka, another way to destroy your financial freedom
Imagine going to an ATM machine, withdrawing money and then putting a gun to your own head and forcing yourself to hand the money over to the first person you can find.
Yes, as ridiculous as it sounds, most people have mastered the art of robbing themselves.
How do they do this?
It’s a process. They start off well. they set up an investment plan – just the way we teach in Wealth Recipe #2 – and invest a little money. Then it all comes to a grinding halt.
They sabotage their entire freedom feast. As soon as the money is doing what it’s meant to do – i.e., making more money – they rob their wealth pot and give it to the first retailer they can find.
If you’re baking a cake and you keep opening the oven door to check, taste, prod, and generally see how it’s doing, you soon end up with a flat flop! You have to trust the recipe and the oven to do their work.
Money is just the same. If you spend your investment returns too early, you remove the power of compounding and take yourself right back to square one.
➤ Wealth Chefs have mastered the recipe of letting their money do exactly what it’s meant to do. They see every bit of money as a seed to be planted to earn hundreds more, which can then be replanted to earn thousands more.
Expanding your dough only works effectively if you allow compounding and time to work their magic and transform your little contributions into a magnificent feast.
The most exciting thing about not robbing yourself is that it accelerates your wealth growth and will allow you to retire early and feed yourself from your Freedom Feast for the rest of your life. By reinvesting all your investment returns, you’re creating a whole army of little wealth chefs to do the hard work for you.
Money cooks leave their financial freedom to chance.
Wealth chefs choose strategies that guarantee their
financial freedom.
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