Wealth and Wisdom Wednesdays

Foreign welcome welcome to the Wealth Wisdom Wednesday. Sorry I haven't been going on the last few but yeah that the timing has been a little bit tricky as I said in some of my previous posts. But I'll just go live right now. Hopefully I'm not overlapping with anyone else. I just find it easier just to get it done a nice quick live right after work. Hey handy hats, welcome to the live. This is Wealth Wisdom Wednesday about the power of delayed gratification for future wealth building. So something that's like super tricky in anyone's life that they're trying to they're trying to build wealth, they're trying to improve their financial mindset, their financial abundance is delaying gratification.

So I'm someone that does a bit of both, right? A little bit of short term gratification, a little bit. And then as much as possible I'll push for things that are long term outlook, long term gratification. Now I still get caught in it myself of doing we all do a short term gratification, but the biggest thing is there'll be bigger financial obligations or bigger financial goals that we're trying to hit in our lives and they require delayed long term gratification. And when we have a long term outlook, we have a tendency to do better in our investments, better in our decisions, our financial decisions when we have a long term outlook.

So there's more that could go wrong when we have a short term financial outlook on things versus a long term one. So and then when you have a long term financial outlook, when there is financial turmoil or challenges, then it doesn't doesn't have a tendency to impact you as much because you can see the bigger picture and you have the bigger, grander vision of what's to come. So the biggest thing I love about my previous financial experience in banking, five and a half years in three different banks, was that they did teach you how to reverse engineer your entire year to hit your goals.

And the same methodology and mindset can be used for your own financial goals, right? Whether you're in sales or not, whether you're in finance or not. Anyone who has passion and the right mindset can attract wealth and build wealth for their future, for their family's future, for their future. It just takes a bit of a different mindset. And one thing I want to mention, speaking to the delayed gratification, he was a great author and kind of like silent mentor to myself growing up was Robert T. Kiyosaki.

So Robert T. Kiyosaki was a Hawaiian real estate investors you might have heard of him. And basically he has this book. So Rich Dad, Poor dad was his first book. Cash Flow Quadrant I think was the second book. And that's when it really started to hit me. He starts going way more in depth into like financial, how to read financial statements, income statements, balance sheets. And then he starts talking about how to maneuver your way through corporate America, corporate Canada, wherever you live, and how to progress and how to have that long term financial outlook and how to get yourself out of being an E, an employee to an S.

So it's like a, it's like a grid and it's E S, B, I. So just think of like a T, like a quadrant T, four quadrants. You've got E in the upper left hand quadrant, S. So E stands for employee, S stands for self employed. So you're a business owner, but again you own your business, right? And you're still required to be 100% like there like 24,7 usually when you're, when you're an S, like a self employed and then B, lower left hand column or a lower part of the cash flow quadrant is B, like business owner.

So you, like, you, you own business, a business or businesses, plural. And you're starting to get like maybe larger cash flow, you're starting to have larger investments and be invested in several of the different businesses. And then because you're investing in several different businesses and you've let's say, right, long term outlook, you bought into them earlier on. Kind of like when you buy stock, you buy and hold them. I have like have. My mindset is like buy and hold for stocks only really sell to buy more of a different stock if that stock for some reason the company goes out of business or et cetera.

So using that same long term outlook, that's what I've been trying to do myself is transition from being an E to an S to a B to an I. And then I is the final part of the cash flow quadrant, being an investor. So when you're at the investor stage, that's when you're, you're at the stage where you're solely focused on how you invest your money, which is a great place to be. It takes time to get there. But most people, when they become really successful, they are culmination of the bottom half of the quadrant.

B and I. And when you're a B and I, you're, you're, you have stakes, you have equity stakes in businesses that you've created or you've co created with other business owners. Or you've created an idea and you've patented that idea or license that idea and then other companies would want to use your idea. So that's another way. There's another book, I still haven't read it yet. It's on my bookshelf to read, but it's by Stephen Key and it's called the Idea or the, or the Great Idea or something like that.

And he talks about like patents, licensing ideas, being, becoming an inventor, that kind of a thing. But Robert Kiyosaki was the one that taught me from a really early age, do your best to delay gratification, like short term gratification, delay things for the long term. Because if we do that, we're going to be in a much better position financially and our mind, body and soul is going to thank us for it. So thank you for tuning into this live. I know normally my Live for Wealth Wisdom Wednesdays is at 6:30, but I just find this easier.

So I'm gonna stick to this. You know, it's just literally it's not gonna be exactly at 6:30, but I'll get it, I'll, I'll get as close as possible to, to the time so more people can tune in. But thank you all for listening. And stay tuned for this Sunday, Sunday Spark Sessions. Thanks Cadre. Take care.