From the time we were children, we looked under our bed and in our closet for the boogeyman and monsters. Perhaps you were terrified the first time you jumped into the deep end of the pool, or that first day of class.
None of these things killed you, yet they felt like they would at the time.
You owe it to yourself to put any fears that no longer serve you aside.
We’ve all felt it at one time or another: worry over money. This is a fear you absolutely must lay aside if you want to build your financial independence.
John Lennon once said, “There are two basic motivating forces: fear and love. When we are afraid, we pull back from life.” Perhaps that’s the case here. Perhaps you are letting this fear stand in your way of financial success. Of your ability to reach your highest financial freedom level, live on your own terms, and experiencing complete peace around money. And, dare I say, of realizing potential greatness.
Currently, less than 20% of wealthy families create next generation success. Combine this with the fact that over 90% of wealthy families are first gen creators. I think buying into this fear is partially to blame, along with traditions that may have served you well earlier, yet no longer do and financial advice beneath your level of success — sources that often support this myth and fan the flames of misinformation.
This has a hefty price tag: it can harm you by having you make decisions like you're still financially weak..
I remember when I first paid that price. I first noticed it when I refused to hire professionals to do my taxes.
It hurt my progress considerably by having to pay a fortune to the IRS. Fortunately, I overcame it by finding experts to make tax cost more agreeable. You can, too.
Success leaves clues. That's why I've spent over 30 years working on a fearless approach to tax efficient money management and helping friends and colleagues do the same. They were struggling to reach their highest potential, and more often than not, this fear is one of the reasons they struggle.
Now, it’s true: what’s right for me and other successful wealthy families may not be right for you.
However, if you’ve bought into the fear of making costly financial mistakes, you may want to consider rethinking things.