by Dr David Phelps
I was thinking to myself recently, how fortunate I was that my curiosity in life led me to mentors with great knowledge about the world, economics, finance, and even human psychology.
Because of the exploration of that curiosity, I found my way into real estate. Now, it could have been anything else. Anyone wanting success does not have to stick to real estate alone.
When you’re young, the compound effect of everything you learn in life, not just formal education but also real-life experience and insights from mentors and guides who have already gone down the path ahead of you, are instrumental to your success in whatever you pursue.
For me, it just happened to lead me to real estate.
People have sowed so much into my life over the years in many different respects that I can't even begin to thank them all for what they did for me.
Ways to Expedite Your Future Success
One, you can avoid making mistakes that tend to set people back for many years. How do you know the mistakes to avoid?
This is wandering into the right territory of questions to ask from the right mentors. Find someone who has done what you want to do, and ask them these kinds of questions.
As a mentee, one has to step up, be proactive, and ask for help. Don’t be afraid to ask and seek the right questions to ask.
Two, don’t follow the herd mentality that everybody thinks is safe. Complete safety/security do not go hand in hand with Freedom. They are an oxymoron.
You can't have freedom without sacrificing some safety and security. The reverse is also true. You can’t have safety and security without sacrificing some freedom.
Three, know your reason why. Seeking freedom and financial independence as early as possible requires a good enough reason.
That reason “why” will change throughout your life. When you’re young, most of us want independence. We want to create a life for ourselves, not dependent on our family or upon government assistance. What reason will motivate you to seek advice and implement it day in and day out?
Wealth and Freedom Change Throughout Life
To be autonomous, we must use our skill sets and education to solve problems in the world. This typically leads to trading time for dollars, a good starting point in life.
As we elevate through life, we start gaining responsibilities over others. Family, children, a spouse, a team/staff, or a community of people we care for.
We start inwardly focused, seeking to make ourselves the best to be protective and supportive of other people. Somewhere along the way, we transition to looking outward.
“Now that I've reached a certain pinnacle in life, what's most important to me now?”
Usually, that answer becomes about giving back, serving more, and thinking outwardly about the gifts we have received and how we can pay those forward.
Most don’t think about this aspect of freedom until later in life, even though that’s what true freedom is about. The freedom to serve, to use your talents, resources, experience, and wealth to serve your family, neighbor, and community.
This mindset makes all the difference in your why and your motivation to build true wealth and freedom.
I think every young person has the opportunity to build their freedom intentionally. If you find the right people and have the right mindset sooner, it will tremendously affect your wealth, success, and freedom.
f you find the right people and have the right mindset sooner, it will tremendously affect your wealth, success, and freedom.
To your freedom!
– David
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