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Dentists Who Invest

Limiting Beliefs When It Comes To Wealth

0004_20230916_R6_17345_ Photo_by_REZAKIO

“Money is the root of all ……”⁣

“Money doesnt grow on ……”⁣

“Money can’t buy …..”⁣

If you found yourself finishing some or all of these sentences that probably means you’ve heard these sayings before.⁣

Depending on when you heard them and who told you them. They may even form part of your belief system.⁣

When we hear a concept repeatedly from an authority figure when we are young it often begins to form part of our belief system.⁣

There is no such thing as “right” or “wrong” beliefs – the universe is a little more abstract that than.⁣

Human beings are the entities that created the concepts of “right and wrong.” Of course by nature these are subjective and depend totally on perception.⁣

When we are on a journey the goal is to get from point A to point B.⁣

In the case of finance the goal is get from where we are (point A) to financial freedom (point B).⁣

There are in effect only two ways to get to a destination -⁣

   1. The most efficient and optimal route.⁣

  2. A route that is suboptimal in terms of efficiency.⁣

With option number 2 we may even still arrive at our goal, in this case financial freedom. However, we likely however arrive much sooner if we would have callibrated our journey.⁣

Calibrating your journey means that you iterate your path to find the most efficient route to travel . Your route of travel is of course determined by your ACTIONS.⁣

Our beliefs are the internal construct that limits and determines our actions.⁣

Think about it – if you believed everything outside your front door was lava then you’d be unlikely to stray outside.⁣

This is because you quite literally think you would perish should you do so.⁣

It is only the second that you push a boundary and in this case step outside your front door that you find out if that belief holds true or not. In this instance, this belief is readily disparaged the moment we go outside.⁣

The key thing to understand is that BEFORE you do that this belief may feel TOTALLY real.⁣

it is required to step outside of your comfort zone in order to unlearn such a belief.⁣

All beliefs are either confirmed, eliminated or require modification in the face of new data. This is necessary to remain consistent with our observations.⁣

When we perform the same actions, determined by the same beliefs we are inadvertently supplying ourselves with the same data over and over again. This positive feedback cycle constantly reaffirms our self imposed limits.⁣

Its unlikely that those beliefs are optimized to take us to financial freedom yet we let them determine our actions every day.⁣

We’ll never break beliefs our beliefs about money unless we are receptive to new data and constantly pushing boundaries in terms of comfort zone and understanding.

Key takeaways:

  • Many of our beliefs were likely given to us by someone else and may not be relevant or accurate to us and the age we live in.
  • There are no such thing as right or wrong beliefs – only beliefs that are optimized to take us towards our goal and those that could be made more optimal.
  • New data acquired by new experiences is the only way to calibrate what we believe.

 

*Not Financial Advice⁣

Disclaimer: The content on this blog is meant for informational purposes only and does not constitute financial advice. Readers should seek guidance from a professional financial advisor before making any investment decisions.

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