Why would a rich person waste time writing a book helping others to get rich? That is a question I put to Michael Yardney in the show today because it is a question that has been asked. Why not instead relax, do very little and enjoy the success. Michael, “Michael Yardney’s Guide to Getting Rich” author, puts it into perspective.
Kevin: Last week on the show, I was talking to Michael Yardney about his new book “Michael Yardney’s Guide to Getting Rich.” He joins me once again.
Good morning, Michael.
Michael: Good morning, Kevin.
Kevin: Michael, interesting, I saw a blog that you wrote just recently in response to a question you had from someone who said, “Why would someone who’s rich want to write a book about others getting rich?”
Michael: I guess the implication in that, Kevin, was why would somebody who’s rich share their secrets? Kevin, to me, that’s the type of question asked by a poor person, somebody with a scarcity mentality.
Kevin: I understand what you mean.
Michael: Maybe I should first of all explain the reason I wrote it, and then I’ll go back to why I think it’s a scarcity mentality. Is that okay?
Kevin: Please do.
Michael: The reason I took the time to write my book is because I enjoy writing about the topic of the psychology of success. Kevin, it’s a topic I’ve been studying carefully for over 25 years. Over the last 10 or 12 years now, I’ve been mentoring people, and I’ve been writing about wealth creation online and in hard-copy magazines. I’m proud that a lot of people recognize me as a leading expert in this field. That makes me pleased to share my knowledge.
Kevin, in fact, I think it’s my obligation to share my knowledge and give back to the world that has given me so much. But, of course, it actually helps that I’ve got the time and freedom to do what I please because I’ve built a substantial property portfolio that’s given me the cash machine I talk about.
Kevin: The other thing, too, Michael, I have noticed in life that if you really like doing something and you want to become better at it, the best way to do it is to actually share that knowledge because it’s a learning process, as well.
Michael: Kevin, a lot of people misunderstand the mentoring relationship. They see it as one-sided, that a student takes from a teacher. In fact – you’re right – it’s the other way around. I find that by helping people, by mentoring people, it actually doesn’t just pay forward, it doesn’t just give back to the community, I gain a lot from it. It’s very much a win-win, Kevin.
Now that also goes together with the concept of why I think the question of “Why would you even want to share your secrets?” comes from a scarcity mentality because it doesn’t work that way at all. Kevin, if I build a big property portfolio, does it stop you from getting one?
Michael: No. If I get a big share portfolio, does it stop you from building one? But most people think either/or, and that’s not the case at all. Again, there are no secrets that I’m actually giving away. There are no secrets in this book.
It’s just a concept I was saying that people think, “Well, the wealthy people have got these ideas, and they’re not going to share them.” No. There’s enough for everyone, and there’s definitely enough to go around.
My thinking is the more wealthy people in Australia, the better it is for everybody. It lifts us up to a standard rather than brings us down to a standard that some people want us to live at, those people who aren’t pleased when they see other people successful.
Kevin: Well, Michael, I certainly hope that message does resonate and that many more people do want to or aspire to do that. A good way to do it, of course, is to simply get a copy of Michael’s book, which is called “Michael Yardney’s Guide to Getting Rich.” As we promised last week, there is a button on the homepage at RealEstateTalk.com.au for you to go straight through, and it‘ll tell you how you can secure that book for yourself.
Michael, thank you so much for your time.
Michael: My pleasure, Kevin.