Episode 126 Five Common Wealth Building Mental Blocks and How to Overcome Them

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Have you been feeling that you’re stuck in a cycle and can’t move forward on your wealth-building journey? You may have experienced one of the common wealth mental blocks that a lot of us deal with.

In this episode, I tackle 5 common mental blocks preventing us from building long-term wealth, and share resources to overcome them.

  1. The Scarcity Mindset – you believe that resources and wealth are limited.
  2. Fear of Becoming Wealthy – you fear success or doubt your capabilities.
  3. Fear of Failure – avoid risks that lead to your missed opportunities.
  4. The Comparison Trap – you constantly compare yourself to others which leads to feelings of inadequacy.
  5. Lack of Long-Term Plan – you prioritize short-term pleasure over long-term goals which hinders wealth-building.
  • Recommended books and articles to overcome mental blocks

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Dreamers’ Wealth of Wisdom
  • The thing with the scarcity mindset is if you don’t acknowledge it and deal with it and recognize it, it can lead to even earning less money.
  • Focus on delivering the best quality that you can so that you can command those prices.
  • Once you’ve taken the time to do your research, just do it as opposed to waiting another year.
  • I would rather try and fail than not try years down the road you wish you had.
  • Spend money on the things that we care about, that add value to our lives.
  • Short-term things should come after investing in your future and your retirement.
  • The lack of long-term planning translates to putting too much emphasis on saving.
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