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Gentrifanatics!

Thanks for coming back for another implant of wealth, health, and wellness!

I’m sure you can agree that opinions are like kidneys, everybody has one…and most have two! Also like kidneys, you can give someone your opinion and they’ll either accept it, or reject it.

Growing up I stood under the Niagara Falls of advice and tried to drink every single drop. I’m a learner by nature. I wanted advice on any and everything.

I’m a little embarrassed to say that it took me until my late 20’s to start dialing in and focusing.

Before taking any advice I should have asked myself; what are your needs and your goals?

Because I didn’t answer these questions I was like a dog when they see a squirrel. A piece of advice came in from the left, I chased it. Until I saw a piece of advice come in from the right, then I chased that!

Once I figured out what my needs and goals were I was able to be selective with the advice I took.

For example, I remember at one point after I got into real estate investing I was talking to an interesting guy about day trading in the stock market. He was telling me how awesome it was and how I should get into it and make a ton of money.

In the past I would’ve taken the bait and immersed myself into day trading but then I remembered my rules. Day trading is interesting but I don’t need to be a day trader, and it’s not one of my goals to be that active in the stock market.

Following the needs and goals mantra has saved me a ton of time, and saved me from a lot of stress!

In this post you’ll see why being selective in regard to the advice you take will also save you time and stress. Best of all, focusing your efforts will make you money!

Your Goal Cant Just Be To Get Rich

This sounds obvious to me now but it wasn’t always. Of course I want to be rich but I cant say the words and then check my bank account for millions.

Its like saying I want to be in shape and then immediately ripping off your shirt in front of your crush! If you haven’t done specific things to get in shape then you’re probably gonna embarrass yourself.

Same with money. Ok you want to be rich, but what is your specific plan? If you just put it out there that you want to be rich some hustler will smell a sucker and come politely separate you from whatever money you have.

When seeking advice from anyone you need to be specific about your needs and goals.

How much money do you need to feel rich? Is being rich even what you really want?

Do you want to be rich and miserable? If not you should probably do something you enjoy.

If you’re like me then you just said “well I enjoy making money”!

I get it! But if you’re not specific you’ll be that dog chasing different squirrels. Every new money idea that comes up will be your next new thing. You’ll leave the old thing and you probably wont ever make any money.

Who should you take advice from then?

Me? Probably. You know why? Because I don’t have an alternate agenda outside of telling you things that I think will benefit you.

This is why one of the best places to get advice on money is from a fiduciary. A Fiduciary is obligated to provide you the best financial advice regardless of whether or not it is the most financially beneficial avenue for them. That sounds obvious but not.

Give Yourself Advice

That’s what you’re doing right now! Self education is one of the best ways to glean advice.

Again, you have to be careful, not necessarily about what you read, more so about what you then believe to be fact and then put into practice in your own life.

There are some great books I’ve recommended in previous posts that are absolutely worth your time in my opinion.

Related Posts:

Would you buy the very first car you looked at when you needed a new ride? It’s the same concept. Investments are vehicles. They get you from point A to point B. Sometimes all you really need is a bike, sometimes a jet!

Sourcing

Always check the source of your information. Ok you heard from a guy screaming at you on TV about a great stock. Where did he get this information? Can you verify it?

It’s the same with anything you read. In any of my posts I could really put anything I want in there for you to read. Can you verify what I’m saying?

Look into any advice you get.

Do your own homework. I mean it’s your life, ultimately you’re responsible for anything you choose to believe.

Don’t be fooled!

Recap

These are the takeaways that you need to remember when it comes to advice:

1. You need a specific plan

2. Give yourself advice (self-education)

3. Never take advice at face value (Trust but Verify)

I’m always around to give any advice that I can! Just HMU!