In today’s show Michael Yardney, from Metropole Property Strategists, shares some personal insight about being as happy as you wish… if you get rid of the 10 deadly habits he will outline.
Kevin: It occurred to me when I was attending Michael Yardney’s five-day wealth retreat recently that there’s a lot more to being successful in life than just earning a lot of money and owning a lot of property. It really comes down to how happy and how healthy you are.
That’s what I want to talk to Michael about today. It’s a little bit different, Michael, but I thought we might introduce this. I know you’ve written about the 10 things you must do – or stop doing – if you want to be happy. I thought we might quickly run through those?
Michael: Good point, Kevin. There are things you must do, but there are definitely things you also should not do. I’ve learned these from the successful people I’ve mentored over the years.
If we go though some of the things you shouldn’t do if you want to be happy, I think one of the first ones is holding onto the past. Whether they’re good memories or bad memories, spending your life in another time or another place isn’t going to propel you forward. The past doesn’t determine your future, Kevin.
Kevin: It certainly doesn’t.
Michael: Number two is negative self-talk. You know that little voice in your brain: “I’m not good enough,” “I’m not ready yet,” “I don’t know enough.” You actually have to cut out the negative self-talk and think positively.
Kevin: It’s so easy to do, too.
Michael: The third thing you should not do if you want to become successful is procrastinate.
Sometimes, it looks like you have to get a little more information or learn is little bit more. There are always excuses why not to do it, but successful people take action; unsuccessful people procrastinate.
Kevin: Interesting on that point too, Michael, every time I procrastinate over something and then do it, I think, “Why did I procrastinate over that? It was so easy to get through.”
Michael: Of course, you’re right, aren’t you, Kevin?
Kevin: Indeed. What was the next one?
Michael: I think another point you should let go of is blaming. There’s not such thing as a rich victim. People tend to blame their education, their parents, the economic climate at the moment, or the banks. You have to become the pilot of your life, not the passenger. Successful people don’t blame others.
Kevin: You think it’s about taking responsibility, Michael?
Michael: Good point. You have to be the pilot of your life, not the passenger. You take responsibility.
Another thing you’ve got to get rid of is living for your paycheck, working from wage packet to wage packet. What you have to start doing is understand that your job is important to help you pay the bills, but you also have to start building assets to start thinking like a businessperson. Even if you don’t run a business, run your own property investment business.
I think another thing you should do is give up the issue about taking on a challenge. Never accepting challenges is like never wanting to change. You have to realize that for you to get to the next level in your personal life, your financial life, or anything, you going to have to do things differently, otherwise you would already be there.
Don’t be scared of taking on challenges, and don’t be scared of it occasionally not working as well. That’s the way life is.
Kevin: Just on that point, I think what actually makes the character of the person is whether or not you’re willing to face those challenges. I think sometimes challenges are put in front of us to actually help us grow. It’s how you meet them, Michael.
Michael: Very much so. They wouldn’t be put there in front of you if you couldn’t overcome them.
Kevin: We all have that ability; it’s whether or not we really want to.
Michael: That’s right. Sometimes it’s easier to stay where you are.
Another thing you need to stop doing if you want to be successful, if you want to feel successful, is stop comparing yourself to others. It doesn’t matter what other people have done or haven’t done, because when you actually get below the surface, you’ll find everyone has their challenges and problems, and they’re possibly not as happy or successful as they seem to be. What you really have to do is just live your life for yourself and your loved ones, and don’t compare yourself to others, or anyone’s estimate of you. It doesn’t matter.
The other thing you have to give up is being ungrateful. In reverse, what you really have to do is be grateful. We live in the best country in the world, in the best time in history, with the most opportunities.
Be grateful for what you have. In fact, one of the things I do every morning before I get out of bed is thank myself or the world. I don’t necessarily believe in God and I’m not necessarily spiritual, but I’m actually grateful, and in my mind, I think through four things that I’m grateful for today, to give me a good day.
Kevin: What about treating yourself, Michael?
Michael: You have to be nice to yourself, as well. You have to appreciate that you deserve wealth, you deserve happiness, and you deserve what you have in life. That’s a good point, Kevin. Stop not being nice to yourself – because we’re talking about the negatives. The reverse is to be nice to yourself; you deserve it!
Kevin: One of the points you made there was about comparing yourself to others. I think sometimes we do that because we’re trying to be someone that we’re really not.
Michael: Yes. Your parents possibly told you that you should have gone to college, you should have gone to university, you should have been a dentist, or whatever. No. Don’t live anybody else’s life. Be yourself, Kevin.
There are some interesting lessons that I believe we should be thinking about – things to stop doing so that you can start being successful.
Kevin: Just before I let you go, I have a question that was sent into us by Andy. Thank you for your question. You mentioned in one of your books about giving a gift to your property manager, and if the gift is less than $300, it doesn’t require a receipt.
Do you want to add a little bit more to that, Michael?
Michael: The simple answer is that the cost of doing business involves expenses. One of the expenses can genuinely be giving gifts to staff or consultants. It could be your accountant at the end of the year, and why not your property manager who looks after it?
You can give regular gifts to staff members, and that $300 has more to do with staff members. If it’s a one off gift to your property manager, as long as it’s a reasonable amount, the tax department isn’t going to question it.
When I talked about receipts, that was really with regard to your regular staff, but if you’re doing a one-off thing to your property manager, why not keep the receipt just in case the taxman checks?
Kevin: Indeed. Always good talking to you. Michael Yardney from Metropole Property Strategists and, of course, Michael’s blog “Property Updates.” Check that out, as well.
Michael, thanks for your time.
Michael: My pleasure, Kevin.