This episode of the High Return Real Estate Show is the first of two podcasts where the topic is achieving your life’s vision with Real Estate. Jeff Schechter and Jack Gibson talk about goal setting and figuring out what your life’s vision really is.
Key Lessons Learned:
Getting Into The Right State
- How you approach your life is a matter of your state of mind, which is something you can influence.
- Movement and music are great ways to affect and prime your state.
- If you are going to create the life you want, you have to be inspired.
- In 1953, researchers surveyed Yale’s graduating seniors to determine how many of them had specific, written goals for their future. The answer: 3%. Twenty years later, researchers polled the surviving members of the Class of 1953 — and found that the 3% with goals had accumulated more personal financial wealth than the other 97% of the class combined.
- Wealth is more than just money. There are five major key areas of your life: Physical, Relationships, Spiritual, Financial, and Intellectual.
- The wheel of life is the concept where you rank your position in each area of life on a scale of one to ten, draw a line from each point with the goal of drawing a circle, and if your “wheel” can roll your life has balance.
- Everyone has an area of life that they could improve on, if one area is especially lacking it acts as a drain on the rest of your life.
- Nobody has ever said on their deathbed “I should have spent more time at the office.”
- The concept of the wheel is useful for helping you set short term goals that will help you balance the areas of your life.
- Achieving your goals starts with creating a better you.
- Write your goals down in a journal.
- One of the hardest parts of achieving your goals is maintaining the focus and discipline to see them through. Time is your ally, take things slowly and incrementally.
- The starting point for true success is always with you acknowledging that you are responsible for the results in your life.
- Saving money requires discipline.
- Money people spend money on frivolous things that they don’t really need.
- It’s easier to go from $100k in savings to $1 million than it is to go from 0 to $100k. Aim for $100k is cash saving and you will see amazing things happen to your life.
- You have to take action, just understanding the ideas is not enough to change your life. How are you being responsible to yourself?
- Write your goals down in a journal and do the Wheel of Whole Life Success exercise. Where are you in each area of life? Would your wheel roll?
- Consider the “why” that motivates you and write it down.