What the rich won't tell you. The truth behind building massive wealth | Tom Corley

While most of us want to become rich and successful, it's really not as easy as many suggest on social media.

In today's show Tom Corley and I explain why building wealth is a two-step process and the requirements to not only build wealth, but retain wealth.

Takeaways

• The easiest way to grow wealth in Australia is through residential real estate.
• Becoming rich involves a two-step process: accumulating wealth and maintaining it.
• Daily growth habits, such as reading and self-education, are crucial for success.
• Building rich relationships can significantly impact your journey to wealth.
• Avoid spontaneous purchases to maintain financial discipline.
• Isolate a portion of your wealth for retirement planning.
• Wealth management requires a team of experts, including financial advisors and tax experts.
• The habits to get rich differ from those needed to stay rich.
• Mentorship is vital; seek mentors who are two levels above you.
• Wealth is a journey that requires continuous learning and adaptation.
• The world doesn't owe you anything; take responsibility.
• We owe the world our talents and efforts.

Chapters

00:00 The Two-Step Process to Wealth

03:59 Habits for Accumulating Wealth

06:43 Daily Growth and Relationship Building

09:41 Persistence, Patience, and Risk-Taking

12:21 Controlling Emotions and Building Teams

15:02 Mentorship and Learning from Others

17:58 Maintaining Wealth and Smart Spending

20:46 Investing Wisely and Planning for Retirement

23:20 The Importance of Expert Guidance

25:54 A New Beginning: Imagining Life Anew

29:59 Embracing the Present: Letting Go of the Past

Links and Resources:

Michael Yardney - Subscribe to my daily Property Update newsletter

Metropole's Strategic Property Plan – to help both beginning and experienced investors

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Order your copy of Rich Habits, Poor Habits here

Join us at Wealth Retreat - Australia's Premier Wealth Retreat for Elite Investors and Business People www.WealthRetreat.com.au

Get a bundle of free reports and eBooks – www.PodcastBonus.com.au

Also, please subscribe to my other podcast Demographics Decoded with Simon Kuestenmacher – just look for Demographics Decoded wherever you are listening to or watching this podcast and subscribe so each week we can unveil the trends shaping your future.

Shownotes plus more here: What the rich won't tell you. The truth behind building massive wealth | Tom Corley