The Key to Success

I bet you all remember the really smart kid at your school when you were growing, the one who was “destined” for great things in life. Well, I bet you twenty years later that the most successful person in the class is not that smart kid but the person who took action, a few risks and was bold.

If you want to reach financial independence, yes you need to build up your financial knowledge, understand different asset classes, understand tax laws and get yourself in the right mindset…but all of this information which makes you knowledgeable is only worthwhile if you take action¬†with this information. That statement is so important I will repeat it again, a person will only be successful if they take action based on the knowledge they have developed. That action could be buying your first rental property, having the confidence to go into a shop and buy your first gold or silver coin, or buying your first share.

Yes, the action may feel intimidating at the time. It may feel as though you are risking a lot and there is a big downside…but if you have done your research and reading, consulted suitable mentors then the chances are that everything will work out. If you’ve been bold and taken action and things haven’t worked out, then dust yourself down and try again with the new knowledge you now have! This is the way things have to be, playing it safe will not get you to financial independence.

The magic ingredient in all of this is finding the trigger that will stick that rocket up your backside and get you taking action now. That rocket has to be something which comes from you. One way I have found to do this, and sorry for sounding depressing, but it really works, is to think about how you want to be remembered. What would be written on your gravestone…do you want to be remembered as a success, someone who lived with no regrets, was able to fulfil all his dreams…if so live with passion, take action and a few risks along the way and I’m sure you will reach financial indendence sooner than you think.

Just remember, life is finite, seize the moment, carpe diem…most importantly take action. Fortune favours the brave and financial freedom will find the action takers! Get off that fence and make some decisions.

Procrastination Will Destroy Your Progress

Anyone who has started on their path to financial independence will soon realise that if they procrastinate their progress will be greatly slowed down. I would go as far as to say if you are a big procrastinator you will be very lucky to reach financial independence!

I have moments of procrastination, the doubts which come into my head when I am making an investment decision- will I be able to buy it cheaper next week? Is this a fair price? Are there better alternatives…similarly there have been moments of procrastination with regard to my financial education- I’ll read that book next week, I’ll research that investment tomorrow…I’ll apply for that real estate course when I have more time. It’s a constant challenge to limit your own procrastination but there are some techniques which you can learn to reduce your procrastination levels, even if you are a massive procrastinator. Some of these include setting yourself goals, having a vision board, and understanding what are triggers that cause you procrastinate and waste time- I have a bit of a problem habit of keeping up with all the latest football news!

Procrastination can also be reduced by financial education. By changing my investment mind set through my reading, I am now a lot less scared about making big decisions because I realise that in order to make progress on my road to financial independence I will make some mistakes. But I treat those mistakes as a learning experience rather as something which I should punish myself for. By all means research your chosen area of investment thoroughly but don’t delay on taking action once you are satisfied with your knowledge.

Ultimately, I think winners are those that take action! Remember even if you have all the financial education in the world, if you don’t put it into practice you will never make any money.

I read a useful book called “The Procrastination Equation” by a guy called Dr Piers Steel who has done extensive research in the field of procrastination . If you think that procrastination could be affecting your ability to reach financial independence please have a look at his book it has useful techniques for combatting it and makes for a valuable read.




Be Your Best

I’m sure most of you have jobs. I myself have a busy job in London which means that I leave the house every morning at 8am and do not return until 7.30pm. At the weekends there are chores to tend too, kids to look after, friends and family to see…so how do you find the time to invest in yourself and enable yourself to reach financial independence. I believe it needs focus and energy.

Set Goals

I have a set of goals which I want to achieve. These are broken down into different categories so that I am not just focusing on financial goals the whole time. I want to have fun too!! The categories I use are:

  1. Financial- where I break them down into short term goals (reach this month), medium term goals (24 month goals) and long term goals.
  2. Family and Friends
  3. Learning and Experiences
  4. Health and Exercise
  5. Career

It is important to then review those goals regularly. I set aside an hour every Sunday morning between 8.30 and 9.30 to review my goals.

Have a vision board

By creating a visual representation of all the things you want achieve and by putting it in a place where you will see it every morning, a vision board can serve as a brilliant pick-me-up first thing in the morning. It will remind you of what you are trying to achieve, help you to focus on the bigger picture, and help to put you in a driven mood for the day.

I created my vision board by searching for JPEGS all over the internet and then printing them all out on a piece of A3 paper. I have stuck it on my mirror to look at every morning! The cleaner may think I’m a bit mad, but it serves an awesome purpose!

How to Raise Your Energy Levels

Exercise it a wonderful way of raising your mood and energy levels. I take a run every morning around the local common, come rain or shine, for about half an hour. This serves as my way of waking myself up for the day ahead, helping to keep me in shape, and raising my mood- exercise releases endorphins, the feel good hormone.

I don’t think it matters what you do, just start doing some form of exercise- preferably first thing in the morning- this could be walking instead of taking the bus, starting to lift weights 3 times a week, or signing up to a local football team.

Food also plays a part

I am very interested in the way food affects our mood and energy levels, and recently went on a course called “nutrition for everyday living” to boost my knowledge.

If you want to maintain energy levels throughout the day and be your best it is important to avoid processed food which cause a spike in blood sugar levels and then a trough in energy levels- foods to avoid includes processed foods such as cakes, biscuits, white rice and white bread. Instead eat lots of raw vegetables and nuts.

Another great thing which I learnt recently is that some foods contain serotonin or help the body to make serotonin. Serotonin is the calming chemical and helps to control stress and boost your mood, so getting lots of it is a good thing! Foods which do this include- oats, bananas and walnuts. So if you really want to start the day off well have some porridge with a chopped up banana!