Learn the one thing NOT to do after accomplishing a big goal.
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Whether on TV or on the internet, there are people knocking the ball out of the park. They are creating new businesses, generating additional revenue streams and having success.
If what I said frustrates you, then sit down and have a goal session and re-set your goals.
You always want to stay in a positive frame of mind where you are happy to see other peoples’ success because it doesn’t take anything away from you (there is no scarcity) and it shows you what is possible. So cheer them on!
Anyway, after the success, I see the same mistake being made.
Can you guess what it is? Can you guess the first financial move they make after making it big? They just sold a business or made a million or had their best year ever. What do they do?
Buy a brand spanking new expensive car! Lamborghini, Ferrari, Bentley or top of the line Mercedes, etc.
A YouTuber had great success and was under 30 years old…bought a Lambo. It costs over $400k!!!
Or the professional skier that bought a Lambo.
Or the guy that bought the Aston Martin, or the girl on a reality show who bought a brand new Range Rover. We are talking $100k plus for a car that is guaranteed to be worth quite a bit less in a few years.
Maybe the Lambos hold their value better, I don’t know, but with insurance and maintenance, it’s not cheap.
They are trying so hard to impress us that they are “rich”. Or maybe they are just trying to reward themselves with their fantasy car.
In any case, it’s such a huge mistake!
Can you imagine investing $400k at 8% for 30 years? Do you have any idea what it would be worth? Take a guess - and this is the true “Opportunity Cost.”
$4,025,000! This one thing done differently had the potential to set them up for LIFE.
And they blew it!
The thought is, I’ll make more. There’s more where this came from. The reality is, a big payday is rare and they often don’t have the success again.
Don’t make this mistake! Don’t sacrifice a good time and looking rich, for the opportunity to actually set yourself up for life and be rich!
Next time you’re on Instagram and see the guys showing off their Lambos, just remember they could have been set for life. Instead, they have a depreciating car that’s worth less every year.
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