Today on The Wealth Secrets Podcast, Sean Adams talks to Peter Lount of Ascendant Financial. They discuss the importance of asserting control over one’s financial future by adopting good habits and effective systems.
Peter experienced firsthand how conventional financial tools have failed to achieve his desired results. By becoming his own banker, he now leverages his own cash for maximum returns.
[02:37] Exchanging Time for Money
[05:26] The Problem with Conventional Wisdom
[09:51] Take Control of Your Financial Future
[16:07] Become Your Own Banker
[22:57] Paying Ourselves Back
[26:17] Estate Planning & Generational Wealth
Exchanging Time for Money
At his old job, Peter was earning a six-figure salary. Even with a large income, he and his peers felt like they couldn’t escape the proverbial rat race. Most of them, including Peter, started side hustles in order to make multiple streams of income. In a sense, they were exchanging hours for dollars. However, adding more revenue didn’t necessarily solve their problems. Within such a high paced work environment, they had little time or energy to look into alternative solutions to grow their savings.
The Problem with Conventional Wisdom
As an employee at a big corporation, Peter had to sign up for government benefits. When he moved jobs, the same thing happened. It didn’t feel right to him because it felt like he was losing control over his money. When he finally found a way to get out of the system, he felt empowered.
Government qualified plans are marketed as financial programs that help us get ahead. But if you think about it, the way it works doesn’t seem to work in our favor. You provide them capital but the government sets all the rules and leaves you with very little gains and control.
Take Control of Your Financial Future
The education system lacks courses on financial literacy. As a result, most of us grow up to believe that we are bad with numbers. When we are presented with simple financial products, we buy into it out of convenience. This is exactly what big corporations want.
To stop this cycle, you must learn the basics of personal finance. Take control of your financial future by doing your own research. If you outsource decisions, you won’t get the results that you want. Know what your goals are and take a closer look at the processes behind products or investments. By learning about how money works, you can make decisions that will be in your best interests.
Get in touch with Peter through Ascendant Financial’s website. Join the Cashflow Canucks Facebook group to learn from and collaborate with entrepreneurs and professionals.
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For more videos and resources, visit leveraged-life.com. Do you have questions and feedback? Get in touch with Sean Adams through his email: sean@leveraged-life.com.