How Psychology Affects Wealth Creation

Want to know how to adjust your mindset to attract wealth? Internationally renowned author and master real estate investor Dr Dolf de Roos shares his top strategy

Speaking on the sidelines of the Wealth Movement Conference held in Johannesburg last week, de Roos relayed a fascinating observation from his vast experience of creating wealth.

Successful people tend to be passionate, curious and they read a lot.

Generally speaking, he noted that people who sit in Economy Class tend to watch movies, while people who sit in Business Class tend to read magazines.

But those who travel First Class, generally tend to read books. He advises that if you want to be successful you need to read and learn.

“The best way to find information and use it is to be curious. Curious people have a natural desire to learn and they learn faster than those who aren’t interested in learning. So, if you want to learn about investing and going global, then it helps if you’re really interested in it and are not just doing it for the financial return,” he advises.

The psychology of wealth creation

As you read and learn about how to create wealth through investments, it’s also vital to make significant mindset changes.

After investigating why so few of his students went on to become millionaires 18 months after completing his course and receiving the tools required to be financially successful, he discovered that it all comes down to the “subconscious mind of the investor”.

From a young age, children are taught that money doesn’t grow on trees; that money is dirty and at times the root of all evil.

If you want to be successful you need to read and learn

This negative narrative around money and the association of wealth with filth creates the perception that money or creating money is a bad thing, he says.

“In order for people to be wealthy they have to dissolve these tapes that are running over and over in their heads, that money is the root of all evil, that money can’t buy you happiness – all negative things,” de Roos says.

The first step to changing your mindset is learning to supplant these negative connotations with more positive ones.

“We’ve got to replace them with more empowering beliefs to replace the bad ones with positive ones. Instead of thinking that it’s better to give a lot than to give a little, because you have to have a lot to give a lot, think instead: my poverty helps no one and my wealth can help many. That’s how you start to change your mindset so that you become open and receptive to creating wealth.”

The importance of making mistakes

Your journey to financial success should be riddled with mistakes.

Contrary to what we learn at school, de Roos believes that mistakes form an important component of wealth creation.

“If you can’t think of any momentous mistake you’ve made over the past two years, then you haven’t been doing enough things. You haven’t been doing enough and you’re living a sheltered life.

“You’ve got to experience different things and when you experience different things – especially if they’re in unchartered territory – you’re going to make wrong turns. But making those wrong turns is good because you learn from them in a way that you’ll never learn if you play it safe, leading the same life,” he says.

So the bottom line is: embrace your mistakes, learn from them and most importantly don’t repeat them.

“You will learn faster from making those mistakes than from reading about 100 mistakes other people have made. When you understand the why, the how comes naturally. If you want a change, you have to make a change within yourself first,” he advises.

source: destinyman


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