20-video series #1: Take responsibility, and build the wealth to live your dream life...how much is enough?

Welcome to my new 20-video series, on the 20 Next Level Wealth steps to designing and then living your dream life. 

The dramatic landscape changes over the past few years have created a unique opportunity for you to design and live your dream lifestyle. 

In this 20-video series, which I filmed over a period of a few months while travelling around Europe, I've aimed to articulate everything important that I've learned about personal finance, business, wealth, and designing an ideal lifestyle...into just 20 short blog posts! 

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Taking responsibility

In the first post and video we consider the importance of taking responsibility for your own destiny, to pursue your dream life, as well as considering how much is enough.

First and foremost, you need to ditch the stories and narratives, or any hard luck stories about why it might be too hard for someone in your position at this time.

Of course, the free market economy and capitalist system isn't always 'fair'.

But we can't easily change the system, only how we play the game within it. 

And if your goal is to change the system, the most effective way to do it is to fit your own oxygen mask first...to build your own financial security, so that you can dedicate your time to changing the world. 

Money and wealth is neutral: it doesn't really care about your background, or which school you went to. 

And there are always opportunities in a capitalist economy...for those who can overcome the dreaded fear of failure - which impacts us all to some degree – and there always will be.

In the end, if you have a massive desire to succeed, and the resilience to never, ever give in…then  nobody can stop you achieving your dream life.

As a first step, you need to take responsibility and accept that the outcome is ultimately under your own control.

Global wealth trends

It’s worth taking a moment to consider what ‘wealthy’ actually might mean these days, at least in global terms.

The truth is what’s enough for one person might not be enough for another (and vice-versa).

And beyond a certain point, accruing wealth might only have a marginal impact on your lifestyle.

So it’s well worth beginning with the end in mind and working out how much might be enough for you.

Credit Suisse recent put out its latest global household wealth report, which traditionally measures how many millionaires there are in each country.

Well, let’s start with the good news: if you were born or raised in Australia you already have a massive head start on almost every other country.

If you’re living in Australia today, you were born into a lucky place, at a lucky time.

The country has never been wealthier.

There are many countries around the world where building a financial future is extremely difficult, if not impossible for many people. 

But in most developed countries, we are lucky, and this is not the case. 

Australia’s median household wealth is the highest on the planet, while about one in every ten adults is now a US-dollar millionaire in Australia (thanks to strength in housing markets, stocks, and generous superannuation packages).

It’s true that some specific locations, such as Monaco, presumably have a higher density of millionaires, if anyone could measure this accurately.

And many of the world’s super-wealth tend to be based in the U.S.

But Australia is an abundant country, with an abundance of resources, wealth, and opportunities.

In fact, the old definition of ‘millionaire’ to denote being wealthy is becoming somewhat dated.

As Credit Suisse noted:

In Australia most adults can become dollar millionaires – at least on paper – simply through home ownership and contributing to their pension schemes over time.

The top of the pyramid

Looking at the distribution of global household wealth, there has been a marked shift in wealth ranges, and the number of adults in the upper ranges.

These days a ‘wealthy’ person would have a net worth of USD $5 to 10 million, which can form the base to shoot for the super-wealth categories at the top of the pyramid.

Take control now

There's a lot of debate about whether the global economy will experience a slowdown or recession in 2023, but in any case global GDP will still exceed US$100 trillion.

The numbers are huge.

If you’re a natural entrepreneur then you won’t need to wait for the right moment – you’ll probably just have gone straight into business at a young age.

For others, it can feel safer to build a solid net worth to form the base of financial independence, which then allows you to take on bigger opportunities, with greater confidence, and much greater upside.  

So, that's the first step: to make a decision to take control of your own destiny - to literally cut off any alternative (by the way, joining my coaching program is a great way to commit to the outcome). 

I discussed this a little further in the short video below (apologies, the sound quality was a bit scratchy on this video – I think my phone went for a swim!).

Have a watch here.

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Whenever you’re ready…here are 4 ways I can help you manage your own money and go next level wealth:

1. Boom or Bust in 2023 – 20 minute online workshop for investors

Register for my next free online training - Boom or Bust? How to change your investment plan for 2023 - book in here

You also download a free copy of my book Total Money Management here. 

2. Subscribe to our Top 100 Podcast for Investors

 Listen in to our podcast - The Low Rates High Returns Show on Apple , Spotify 

3. Subscribe for my free daily blog

Subscribe for my free daily blog with over 3 million hits here. 

You can also catch up with me daily on Twitter here, where I have over 11,000 followers. 

4. Work with me privately

If you’d like to work directly with me directly to help you map out and action your next level wealth plan… just send an email to [email protected] with the word “private”…tell me a little about your situation and what you’d like help with, and I’ll get you all the details!