{"id":6434,"date":"2015-11-24T01:00:09","date_gmt":"2015-11-23T14:00:09","guid":{"rendered":"http:\/\/realestatetalk.com.au\/?p=6434"},"modified":"2015-11-24T01:00:09","modified_gmt":"2015-11-23T14:00:09","slug":"they-just-keep-getting-richer","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/they-just-keep-getting-richer\/","title":{"rendered":"They just keep getting richer – Michael Yardney"},"content":{"rendered":"

 
\nHave you ever wondered why the rich keep getting richer and the gap between the rich and the poor keeps widening? Michael Yardney<\/a>,\u00a0<\/strong>from Metropole Property Strategists,\u00a0<\/strong>addressees that topic in the show and tells us about his new book as well.
\n <\/p>\n

Transcript:<\/h4>\n

Kevin:<\/b>\u00a0 It\u2019s a fascinating study, you know. When you look at the rich around the world, they just keep getting richer. Is there anything really wrong with that? Why does it happen?
\nMichael Yardney is from Metropole Property Strategists. Michael, have you been looking at this? Why is it so?
\nMichael:<\/b>\u00a0 Kevin, I\u2019ve been studying this \u2013 I guess \u2013 for the last 25 years and more intently over the last 10 years as I\u2019ve mentored over 2000 very successful entrepreneurs, business people, and property investors.
\nI\u2019ve noticed that it actually has nothing to do with their background or education; it has a lot to do with their habits, the way they think about money, they way they act about money, and what they do.
\nHaving studied it for a long time, I\u2019ve actually put it all together in my latest book, \u201cThe Guide to Getting Rich.\u201d <\/i>The good news is that the majority of wealthy people in Australia actually didn\u2019t start off that way. They weren\u2019t born with a silver spoon in their mouth. I think most people can become wealthy in this country, Kevin.
\nKevin:<\/b>\u00a0 I suppose that would be interesting, then, to have a look at what you would see as the common traits, Michael?
\nMichael:<\/b>\u00a0 The common traits of successful investors, business people, entrepreneurs, rich people are they think in a particular way. It\u2019s interesting, and I don\u2019t want to sound arrogant, but after having spent so much time studying people, I think after sitting down and spending five or ten minutes with somebody, I can actually come to a conclusion about how wealthy they are, or are going to be, because of the way they think, which leads them to act in different ways.
\nKevin, the other thing is they have habits \u2013 what I\u2019d call \u201csuccess habits\u201d \u2013 that separate rich people from the average people. In Australia, one of the big things that separates rich from wealthy people is also property. In fact, all around the world, the wealthy invest in real estate.
\nKevin:<\/b>\u00a0 It would be very handy for us to know what we can learn from that, Michael. What can we learn?
\nMichael:<\/b>\u00a0 You can learn that if you don\u2019t change, nothing else in the world is going to change. But if you change, your life and your wealth can change. I believe, Kevin, if you took all the money in the world and distributed it evenly, within five or seven years, it would be back in the same proportions again. I bet you\u2019ve heard that, Kevin?
\nKevin:<\/b>\u00a0 I have, and there\u2019s another interesting point that you and I have talked about off-air on many occasions, and that is that I think really clever people, people who become rich, are very good at working out where they can best spend their time.
\nMichael:<\/b>\u00a0 That\u2019s right, Kevin. But what they\u2019ve also learned is to get mentors and models to change their thinking. For most of us, we\u2019re taught by what I\u2019d call \u201cunwealthy\u201d people \u2013 in other words, our parents, teachers, or friends, who aren\u2019t wealthy. Do you think the conversation around James Packer\u2019s kitchen table was different to the table when you and I grew up? Those people have a head start, but you can start hanging around other people. You can start doing things differently.
\nKevin, when I learned this concept of modeling other people, and understanding how they think, what they do to become the way they are \u2013 whether it\u2019s with regard to health, fitness, business, or wealth \u2013 then you can actually fast-track things. It\u2019s arrogant to think you can start from scratch and learn how to do it yourself, Kevin.
\nKevin:<\/b>\u00a0 If it were easy everyone would be doing it. Another thing I\u2019m fascinated with, Michael, is that gap between the rich and the poor. I know it\u2019s a terrible term, but is that getting wider?
\nMichael:<\/b>\u00a0 I understand your concept of poor. Fortunately in Australia we\u2019re the wealthiest country in the world, so our poor are still richer than the rich in many other countries. Kevin, we also know that true wealth has nothing to do with how much money you have or how many properties you have.
\nBut if we\u2019re allowed to talk about money for a moment, in Australia, the gap is getting wider. The rich are getting richer, and it\u2019s happened even more so post the Global Financial Crisis all around the world. Fortunately in Australia, the gap between the rich and the poor is smaller than any other OECD country.
\nMy thoughts are if you want to change your financial circumstances, you actually have to hang around the right people, learn the habits of the rich, and change some ways of thinking. We\u2019ve been taught that money doesn\u2019t grow on trees and rich people are greedy.
\nThe habits of successful people are that they learn, they educate themselves, they have different ways of thinking, they spend time looking after their personal health, they spend time on good relationships. They invest in themselves first, and then the rest seems to happen, Kevin.
\nKevin:<\/b>\u00a0 Excellent. I suppose a good place to start if you\u2019re interested in reading a little bit more about this is to get a copy of Michael\u2019s latest book, \u201cThe Guide to Getting Rich.\u201d<\/i>
\nHow do we get that, Michael?
\nMichael:<\/b>\u00a0 There\u2019s a website called GuideToGettingRich.com, which is a really good place to start. It\u2019s really the byproduct of my study over the last 10 years of the 2000 people I\u2019ve mentored to see what the differences are, Kevin.
\nKevin:<\/b>\u00a0 We might put a link to that on our homepage at Real Estate Talk, Michael.
\nMichael:<\/b>\u00a0 That would be very kind, thank you Kevin.
\nKevin:<\/b>\u00a0 We\u2019ll do that. Just go have a look for it on the homepage, you\u2019ll find it there somewhere. I don\u2019t quite know where it\u2019s going to be. You\u2019ll find it by the time you get to this.
\nMichael Yardney, from Metropole Property Strategists and author of that new book, \u201cGuide to Getting Rich.\u201d Thank you for your time, Michael.
\nMichael:<\/b>\u00a0 My pleasure, Kevin.<\/p>\n","protected":false},"excerpt":{"rendered":"

  Have you ever wondered why the rich keep getting richer and the gap between the rich and the poor keeps widening? Michael Yardney,\u00a0from Metropole Property Strategists,\u00a0addressees that topic in the show and tells us about his new book as well.   Transcript: Kevin:\u00a0 It\u2019s…<\/p>\n","protected":false},"author":176692471,"featured_media":6435,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[33,10,11,13,17,25],"tags":[101],"class_list":["post-6434","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-case-studies-topic","category-kevin-turner-sponsored-channels","category-kevin-update","category-latest-story","category-property-investment","category-sponsored-channels","tag-podcast"],"yoast_head":"\nThey just keep getting richer - Michael Yardney - Realty Talk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/channels.realty.com.au\/realtytalk\/they-just-keep-getting-richer\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"They just keep getting richer - Michael Yardney - Realty Talk\" \/>\n<meta property=\"og:description\" content=\"  Have you ever wondered why the rich keep getting richer and the gap between the rich and the poor keeps widening? 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