The Four Most Costly Wealth Mistakes the Average Person Makes
Dear Friend,
Have you ever wondered why it seems some people make building wealth look so easy? They don’t even seem to work at it and yet they have millions that flow their way.
While good, hard-working, honest people like yourself have to put in long hours and lots of effort just to stay even.
The difference is that the average person makes four simple wealth mistakes that cost them their entire financial future.
They repeat these four mistakes again and again, literally sabotaging any real chance they have of succeeding financially on the level they truly deserve.
In this special report you’ll learn all four of these costly wealth mistakes and how you can avoid them.
Let’s get right into it…
Mistake One: They focus on “earned income” as the most important number to creating wealth.
This is a flawed approach to building wealth. Income is not wealth. Assets that create income are the source of financial wealth, not actively working for income.
Earning more is not only NOT a guarantee of reaching your financial dreams, but often times for those people who don’t have the financial fluency they need to manage their money, more income can actually make it harder to succeed financially.
I know this sounds totally backwards, but hear me out on this.
Most people who start to earn more active income start to spend more too. And they spend more on things called “Residual Expenses™”, that is, on things that have an ongoing payment or expense associated with them. This could be a bigger house which leads to a higher mortgage payment, property taxes, the temptation for a houseful of new furniture, the drive to get a fancier car to keep up with the image of the neighborhood… I think you can see where I’m going with this.
In my experience working with thousands of people over the last decade, more income without the right financial understanding, habits, and skills, is every bit as dangerous to your financial success as is too little income.
That is why I felt so strongly motivated to create the Financial Fluency course, to give people the tangible tools they need to not only manage their money, but more importantly, to cultivate the financial fluency and sophistication to move in the world of money, wealth, and finance with grace, ease, and confidence.
I think that is my favorite part about teaching this course—seeing the light bulb go one in the eyes of clients as they suddenly get the key concepts of building wealth. And as they lock on to the skills and strategies of the wealthy, I can literally see the hope and promise forming inside them.
Maybe I’m a little too sentimental, but watching this transformation—from fear to financial hope and courage—inspires me to keep teaching.
Which brings me to the next mistake…
Mistake Two: They learn to save like middle income people.
Middle income people have been taught to set aside 5-10 percent of their income to build up their “nest egg”.
What’s wrong with this you say? Isn’t saving and piling away the money so you can build your nest egg smart advice?
It is, if your goal is to be middle income. I don’t mean to be harsh about this, but I need to shake up this long held misconception about becoming wealthy.
First, middle income people have been taught to save “after tax” dollars and invest this left-over money in wealth vehicles they have no real understanding of nor advantages with. By itself, this is a recipe for disaster.
But more importantly, the idea of “building a nest egg” is inherently flawed. This is one of the prime themes of the Financial Fluency home study course I created based of the two day workshop.
Your goal is not to accumulate a lump sum of money, but rather for you to build the asset base you need so that you can intelligently and skillfully invest that asset base to generate passive, residual income.
The nest egg (or net worth) is only a means to an end, it is not the end in and of itself.
In today’s world you’re pushed to blindly turn over your money to the “professional” managers who will do the work for you. Of course, 9 out of 10 (actually 99 out of 100) of these professionals are really w-2 or 1099 employees or commissioned sales people who are stuck at Level One themselves!
And these are the people you are counting on to help you reach for financial freedom?
Call me crazy, but if I were struggling to stay afloat in the middle of the ocean I wouldn’t hope for a drowning man to save me. I’d much rather have a man on a boat pull me to safety and then learn to swim myself so that I could go back into the water on my own terms.
This is why I so strongly emphasize the need to learn to master these financial fluency skills, so that not only can you speak the language of your advisors, but so that you can take charge of directing them for your best and highest good.
The real solution is not to trust blindly, but rather for you to invest the time and money to learn to direct your own financial world. This is the surest path to financial success.
Does it take more work? Absolutely.
Does it cost more money? Not really. In fact, when you look at what it is really costing you to remain financially illiterate then the small investment to get access to the ideas and training you need to cultivate financial fluency is like a highly leveraged investment, and one that will pay for itself over and over and over again.
Yet most people will never step up and take charge of their own financial life.
Which leads us to the next mistake…
Mistake 3: Most people simply take the path of least resistance financially.
They either do nothing or blindly do what the “experts” say to do. Both are known paths to failure.
How many people have you met who did nothing for 40 years and ended up wealthy? Not many.
Wealthy people planned, invested, took action, learned from their mistakes and the mistakes of others, consulted with experts, and took charge of their own financial life.
Notice I did say that they consulted with experts. Of course they did. But they didn’t blindly follow their prescriptions. Instead, they took charge of their own financial life and made their own decisions along the way.
Now it would be impossible to do this if you refused to learn and never invested in that self-education in the inner workings of wealth.
But with that focused investment in yourself, you are now able to make smarter choices, have a deeper understanding of the financial world, and as a result reap the rich rewards that up until now you had only dreamed of enjoying.
Again, is what I am sharing the “easy” path? No, it takes work and energy upfront to pay your dues to learn to master the five languages of financial fluency.
But in the long run it is a thousand times less work, because being poor or middle income is so much harder work than being financially savvy and wealthy.
Look, I’ve been poor, I’ve been middle-income, and I’ve been wealthy, and I know which one I choose!
So how can you learn what you need to learn to become financially fluent? In fact, a better question might be what do you need to learn to become financially fluent?
Let’s take a moment to explore what you need to learn to become financially fluent.
What You Need to Learn to Become Financially Fluent
Financial fluency is what allows you to move in the world of money, finance, and wealth with grace, confidence, and ease. In fact, the only way for you to truly take charge of your financial life is to become financially fluent. Otherwise you’ll always be dependent on outside agencies that directly or indirectly control, shape, or coerce your economic behavior.
Your goal is to use your financial fluency to build Level Three wealth. Level Three wealth is when you have secure, independent, hands-off income streams that flow to you without your actively having to work to keep them flowing. It’s the wealth you build that lets you have the money and the freedom. And it’s the foundation of true financial freedom.
The problem is that this is not an education that you were ever taught in school.
In fact, one Maui Mastermind participant who graduated from the Wharton School of Business, arguably one of the top five business schools in the world, shared with me how her two years there prepared her to build someone else’s business not to be wealthy.
She told me that it took her experiences after graduate school, when she focused on books and courses and relationships with wealthy mentors, to teach her how to be wealthy.
And I’ve heard the same thing from dozens of my other clients who’ve attended Wharton and other top business programs.
So if business school isn’t enough to get this type of education, then how is the average person supposed to get it? I wish I could say you would pick it up on the job, but that just isn’t going to happen either.
In fact, if you want to become financially fluent you’re going to have to learn to rely on yourself. YOU are going to have to be the one who picks the places you are going to go to learn about it. YOU are going to have to take full responsibility to invest the energy to become financially fluent. It isn’t up to me (sure I want to help, that’s the whole reason I write you each week, and teach on this subject), the buck stops with you.
So where do you start? With mastery of the Five Languages of Financial Fluency™:
The Language of Money: It’s spoken in the vocabulary of accounting, debits and credits, assets and liabilities. It is the foundation of financial fluency. The core of the Financial Fluency course is helping you to learn to learn how to read the story inside of financial statements.
Whether you’re a business owner who is learning to better control your business’s cash flow, or an investor looking to protect yourself before you make an investment, or simply a beginning wealth builder looking to take control of your financial life, you’ve got to learn to master the Language of Money.
In the course, not only do we go into how to understand and use financial statements to see where you are, but we also go into detail about how to use financial statements as tools to help you reach your financial goals faster and easier.
The Language of Business: It’s spoken in the form of contracts and agreements. It’s the legal medium in which all your financial moves take place.
One of the most important sessions of the course is the part where we walk step-by-step through the 12 secrets of asset protection, which, as you can imagine in today’s world is critical to protecting your growing wealth.
Level One people don’t have any asset protection in place. They often do business in sole proprietorships or general partnerships, the two most deadly business entities you could ever choose.
Level Two people do all their business in one entity, which they don’t really understand how to maintain, and often leave themselves totally exposed to financial loss.
Level Three people are different. They have created a layered approach that strategically incorporates multiple entities for maximum protection and tax advantages. It was the Level Three approach that I shared in the course.
The Language of Leadership: This is your ability to move, inspire, influence, and lead other people (and even yourself) to create, build, defend, grow, and share.
To be frank, we didn’t spend time on this language since there are so many great resources available to help you already. Instead we focused on the other four languages. (Hey, we can’t do everything!)
The Language of Cash Flow: This is composed of two pieces: the offensive game of investing to create cash flow (creating a personalized wealth plan for yourself and mastering your wealth vehicles) and the defensive game of using Pre-emptive Tax Strategy™ to legally minimize your taxes.
There is no faster way to increase your cash flow that getting strategically smarter about your tax planning. The first time Diane taught this course the people in the class literally learned ideas that saved them several thousand dollars that very year—ideas that didn’t take long hours or heavy labor. Instead, these powerful strategies simply relied on advance planning and specialized know how.
This is like so many of the ideas we shared in the course. When you hear them they instantly make sense and seem so obvious, but before you have them laid out in front of you, they never would have occurred to you.
I wish I had this information laid out in such a simple, coherent, and powerful format when I was building wealth, it would have been so much easier. But the reality was that I had to figure most of this stuff out on my own along the way.
You see, there were courses and workshops on PARTS of the puzzle, but I never found the big picture in one comprehensive place to give me the total framework I needed to become financial fluency. That was one of the biggest drives for me in creating this course—to have it be the course I always wished I could have had when I was starting out.
The Language of Wealth: It’s the distinctive ways that the wealthy view money and financial matters. At its core are 21 key distinctions that separate the Level Three people from Level One and Two.
Once you learn these key distinctions, you will finally be able to make crucial shifts in how you go about your wealth building that will accelerate your progress and supercharge your results.
For example, take the uses of insurance. At Level One people don’t even use it. Their idea of insurance are the government programs or employer plans that are given to them.
At Level Two, they see insurance in simplistic terms and have no real understanding how to use it to its best effect.
At Level Three, you’ve learned the places to look to protect yourself when you buy it, and you’ve literally learned over a dozen more sophisticated ways to leverage insurance to help with your wealth building. (E.g. Life insurance for cross purchase buy-sell arrangements in a partnership, for liquidity issues around an estate plan, etc.)
I could go on and on about what you need to learn to become financially fluent, but these five languages are the foundation that will make you wealthy.
Are you wondering what that final wealth mistake is? Well here it is…
Wealth Mistake Four: They let fear and intimidation stop them from taking the simple steps they would need to take to become financially fluent.
All it takes to become financially fluent is to spend some focused study time learning the key concepts and getting familiar with these key languages.
I’ve literally walked thousands of people through the steps to begin to become financially fluent.
It is something you can do. You have it in you. But it’s going to be up to you to take the steps to make it happen.
I wish I had more time to share more with you about the insights, strategies, lessons we cover in the Financial Fluency course, but I’m already on page six of this letter and I fear you’re attention is stretched pretty thin.
I do have one final thing to share with you, something that I hinted at earlier but now I want to make it crystal clear.
We recorded (audio and video) both days of that Financial Fluency workshop—every single information rich session—and turned it into a simple yet powerful comprehensive wealth course on how to become financially fluent.
And this is your chance to get the complete home-study version of that course (includes 15 money-making audio and 15 detailed video sessions plus a comprehensive course manual).
And I want to make this offer even better for you than that. After all, you don’t know how amazing the course is. How could you? You weren’t there!
Sure participants of the workshop sent me emails like these ones:
It's like an MBA on steroids for like a ridiculous fraction of the cost.
--Olly F.
“Mind blowing!”
—Alexander R., Arizona
“Fabulously well-informed. Completely satisfied and feel for the first time in my life that when I, the student was ready, the teacher showed up. Bravo!”
—Buddy J., Florida
“We never dreamed that we'd be able to quit our jobs as Los Angeles police officers and follow our dreams. We still can't believe we now wake up every day living our dream life.”
—Kelly and Ruperto F., California
Because I want you to feel comfortable saying yes to this generous offer, I’ve arranged to put ALL the risk onto my shoulders and make you this very powerful guarantee:
You accept my offer and order the, Financial Fluency course. If you aren’t totally convinced of the value after you listen and watch the course, you can contact my office at any time over the next 3 months for a full refund.
I don’t know how I can make it any better for you than that. Not only will you be able to download the complete audio and video recordings of the 2-day Financial Fluency workshop, but you’ll have up to a FULL THREE MONTHS to try out the ideas and strategies in your own life and prove to yourself how powerful and valuable they are.
And if for any reason you aren’t thrilled with the value at any time over the next three months, you can get a complete, prompt, and courteous refund.
But you do need to act fast. This offer is only available for a limited time, after that, it is gone—forever…
Sincerely,
David Finkel
P.S. If you would like the audio and video on CD and DVD in addition to the downloadable version, you can upgrade for just $99 more!
Order today!
Downloadable:
$697.00
Shipped: $797.00
