Dr John Demartini, human behaviour specialist, talks to YIPtv about what wealthy people look like inside and out.
Video transcript below:
Reporter: When it comes to wealth creation through property investment, what does a financially independent person look like inside and out. Dr. John Demartini specialist in human behaviour says the truly wealthy are so because they have a value on wealth.
Dr. John Demartini, Human Behaviour Specialist
Dr. John Demartini: And one of the things that I have studied, because I have interviewed billionaires, I have interviewed poor people that the people that are wealthy, they have a value on wealth and they have a higher probability of making sure whenever they do receive any portion of money that they put it into things that appreciate value. They think about investments, they focus on it, they study it.
Where most people have a fantasy about being financially independent and their focus is about they can spend it on lifestyle. So I asked people, I am going to give you a minute, I want you to imagine you just received $10 million US and I want you to imagine that you have one minute to write down what you would do with that $10 million and they quickly write down what they would do. The 10 things they would with that $10 million and to their surprise when they are done with that, I hand it to the person on either side of them and they read it and they calculate how much of that $10 million has been spent and they found out in the whole room that only 7 people out of 5,000 people put into investments that appreciate in value. They are life style oriented.
And many people live in a fantasy that they want to the wealthy, but they don’t really have a wealth value. They have a lifestyle value and as long as they have a higher priority on spending on consumables and depreciables than on things that appreciate in invested value has a return on investment. The probability of them being financially independent is very low. And it doesn’t matter how much money they make, because their values dictate how they manage what they make and if they have a higher value on spending it than on investing it, then no matter what they do they will always be in problems with liquidity and problems with what they do with their money.
Reporter: So what do these successful people do?
Dr. John Demartini: If they have a value on it, they will, there will be some signs of it. They will be studying it, they will be reading magazines on it like yours, they will be reading newspapers and keeping current on what’s going on, they will be reading books on it, they will develop an education on it. They will be making sure they are associating with people that already follow along the pathway and they will get mentorship on it. They will make themselves not to overexaggerate, but they will take themselves methodically and they will think long term. Now we say long term vision is farther and more profitable than immediate gratification.
When they do actually get a deal, they won’t impulsively buy the deal, they will investigate the deal, they will think of everything, they won’t be blind, they will have a checklist of things and make sure that they follow the strategies that are proving to work on a daily basis or be asking what worked and what didn’t work and they will be learning and making sure they compile a strategy that’s sound and they will methodically be waiting for opportunities in the market. They are not going to just impulsively go and try to get this quickest system in my experience.
Reporter: So how can someone go about getting into the right headspace? Demartini says it’s all about inspiration and your values.
Dr. John Demartini: I tell people to write 200 benefits of dedicating your life to mastering property investment, 200 benefits. Because when you have a big enough reason for doing it, you will do it. So you have to have enough reason to do it. You need, I have a value determining process that I have on my website. Dr.Demartini.com on the left side menu there is a place that’s value determination, if you hit that button you can go in there it shows another little menu it says how to determine your values. I highly recommend people doing that. It’s a 13 little questionnaire that help you determine what’s really important to you.
Once we find out what that is, then we link property investment to that and they start linking how specifically is doing property investment and they don’t write down the benefits of the fantasy world that they are going to get if they do, they don’t write down the, they are going to have the speedboat, they are going to have that, that’s spending money. They write down the benefits to them in their current values of actually mastering the science and art and philosophy of building wealth through property investment. That means all the details, all the due diligence, all the contracts all the things that are truly involved in it and they need to know what that is and how specifically is mastering that and doing that can help them build their wealth. If they have a dream about doing that, they are going to master it. If they have the fantasy that I don’t want to do all that, I just want to live the fantasy lifestyle, then they are really going to be probably the second it gets challenged they are going to be bail out.