076: Setting Your Wealth Thermostat: Rod Khleif

The wealthy think differently than most of us-- Here's the challenge--In order to be wealthy, you must think like the wealthy! "But Buck, if I don't know how they think how can I do that?" Well, I'll tell you. You see my job on Wealth Formula is to infiltrate the world of the wealthy. Think of me as a spy like 007 stealing secrets from the wealthy and passing them on to you. That's what I love to do. Now here's something that I have noticed. The wealthy set their wealth thermostats higher than the middle class or even high paid professionals. What's a wealth thermostat? Well, tell me what kind of yearly income makes someone rich. Is it $250,000 per year? Is it $5 million per year? $100 million per year? If I ask 10 of you, you will give me 10 different answers of what you THINK is rich. Now, your answer to this question is a strong indicator of your wealth thermostat. I call this a thermostat because our minds have a funny way of making our thoughts into reality. If you think of a certain amount of money and think it's too much then it is. YOU WILL ALWAYS HAVE THE AMOUNT OF MONEY THAT YOU THINK IS NORMAL FOR YOU. The funny thing is that the thermostat also helps you from going below a certain level of wealth. Look Donald Trump—that's an extreme case. He was in serious dire straights in the early 90s. He was several billion dollars in debt (and not all good debt either.) But, talk about a guy with an off the charts wealth thermostat—this guy is now 3.5 billion in the black. My point--If you want to be wealthy, you have to think like the wealthy. Financial wealth comes mostly from mindset. This week's guest on Wealth Formula Podcast is another great example of the wealth thermostat at work. His name is Rod Khleif. Rod went from rags to riches then went back to rags for a while. In this week's interview he'll talk about that journey and what helped him, once again, return to the joy of riches as a successful real estate investor. Don't miss this episode!