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If You Could Live the Second Half of
Your Life Differently From The First,
What Would You Do With It? – Michael Yardney

By now you’ve probably read a bit about Wealth Retreat 2016 and if you’ve thought about joining us this year please read on, because I’ve found out that some people who really wanted to join us have counted themselves out, thinking they didn’t qualify, when in fact they did.

If you are serious about building your own share trading or property investment business, one that one day will deliver you financial security….

If you’re already a trader, entrepreneur or property investor and keen to take things to the next level…if you’re looking for a group of like minded, supportive  people to mastermind with…if you’re looking for the next level of information and knowledge, things that are not in the books or on the internet – I have an invitation that could help you create a completely different life for yourself.

For the last 15 years I’ve been educating investors through powerful seminars, books and webcasts and for the last 9 years (together with a small group of my mastermind advisors) I have also worked privately with select clients to take them from where they are now…to where they want to be.

In fact, some of my greatest pleasure comes from working directly with people who truly want to make the internal changes and life-changing decisions that will allow them to achieve the goals they want to reach!

And when they attend Wealth Retreat our faculty gives them a toolbox stuffed full of new tools to help them reach their goals.

Once again this year starting May 28th —for five days a group of experts from my own mastermind team and I will work with 50 individually selected clients in the transformational environment of a resort on the Gold Coast.

If you are interested in joining us you please ring my assistant Jo Fitt on 03 9591 8888 or email her and she’ll explain all about it to you.

If you are selected to participate, you will work with us in formal learning and one on one sessions as we take you on a powerful 4-step process to get your goals and passions aligned, and then get you moving forward towards taking BIG actions, and creating even bigger results.

The goal of this retreat is to take your property investing to a new level – not up one or two notches, but a whole new level so you build yourself a true property investment business.

You’ll leave with not only a property business plan, but also a finance, tax and asset protection plan and if you’re interested in equities, a share market trading plan.


Here is a snap-shot of this 5 Day Process:


Step 1: Getting Clear, Grounded, and Focused

Using powerful exercises, we will get you into the state that is needed to truly get the most of this 5 day learning experience. The results of this session have surprised even the most advanced property investors and entrepreneurs.

This is not a metaphysical “rah rah” seminar, but even the most successful investors I work with are driving around with one foot on the accelerator and one on the brake. While they have empowering beliefs, most still play within their comfort zones (even though they don’t realize it.)

I help you get rid of some of your disempowering beliefs and put you in the right state to learn a whole lot of new information. If we don’t clear some of the clutter in your mind, there won’t be room for all the new good stuff.

This means you will learn where you have gotten stuck in the past (you might not even realize you’ve been stuck), and how to strategically release these so-called brakes that have been holding you back.


Step 2: Life Purpose and Passions

Once you are in this powerful state of clarity, you can then move forward to discovering your true life purpose and passions.

Again this is definitely not a metaphysical seminar where we dance on the tables and massage each other’s shoulders, but…

Identifying, acknowledging, and honoring your purpose is perhaps one of the greatest actions steps successful people take. You will learn to identity what you are truly meant to do, and then pursue that purpose with passion, enthusiasm, and integrity.

For many it has to do with property, shares, business and money. For others it is about contribution. And for yet others its about leaving a legacy.


Step 3: Strategy, Mastermind, Plan

During Step 3, we will work together (at times one on one) to strategize your goals, align them with your purpose and passions and take part in powerful mastermind sessions.

These mastermind sessions will help you garner new ideas, actions strategies, and a plan to achieve the goals you have set for yourself.

Whether it’s creating more balance in your life, traveling the world while your property business works on autopilot, getting started in property development – or any other goal – we’ll deliver the information, advice and know-how you’ll need to get going.


Step 4: Master the Art of Action and Perseverance

You will leave with an action plan and this will be followed up with a personal one on one strategy session with me to make sure you will implement this plan.

This will help you pursue, and maximize your goals.

You’ll also learn how to master the art of taking action and persevering in the face of anything that gets in your way of achieving what you want.

I’m not going to lie, we all come up against barriers – it’s part of life. It’s knowing how to deal with these obstacles, and how to rise above them that really sets you apart from the rest, which you will learn how to do during the upcoming retreat.

Our goal is to give you the tools to achieve the dreams you want for yourself.


The Program includes:

  • 5 Full Days with our expert faculty including property, share trading, tax, finance, financial planning and equities experts including Louise Bedford, Chris Tate, Tome Corley (from the USA), Ken Raiss, Gavin Taylor, Mark Creedon, 3 finance experts and me plus
  • All meals and accommodation and entertainment – which means we spend almost all of the day together – from breakfast ‘til when we go to bed
  • An advanced education program and program materials
  • One on one sessions with many of our faculty.
  • Some surprises!
  • A follow up one on one strategy session with me to help you implement your learnings.


Just imagine…

Imagine if you had the opportunity to hang out for 5 days with Donald Trump, Robert Kyosaki and Warren Buffett. What would that mean to you? How would you come out differently?

Well…I haven’t invited Trump, Kyosaki or Buffett to Wealth Retreat, but I have invited the Australian equivalents and that’s who you’ll hang out with for 5 days.

What could this mean to you?

If you’ve ever wanted to “hang out” with me Louise Bedford, Chris Tate, Ken Raiss, Tom Colrey, or the other members of our faculty in a private setting – knowing that your life would be transformed in the process – this is your opportunity.

What It’s Like to Spend Time With Authentic Individuals of This Caliber…

Sitting down with powerhouses the likes of our faculty during this unique five-day experience will be an exhilarating experience indeed.

They are all very successful in their own fields and comfortable with their achievements. They know how to get things done.

When they set goals, things happen.

To them most dreams are easy to accomplish. In fact, it’s what they do every day. And it’s one reason why working with mentors at this level will catapult you further and faster than virtually any other approach.

Of course, don’t discount the other attendees you’ll meet at this retreat.

Each year we attract top-level players who you’ll meet and interact with over five empowering days.

Who knows what dreams could be hatched over lunch or as part of the day’s group activities?

This will be different to any other property, share trading or entrepreneurial training you’ve attended.

As you can imagine, working in a private setting like this with me and my faculty is an experience that will be different from any training, seminar or workshop you’ve ever attended.


It is an extremely unique opportunity – a very rare chance to work with all these great mentors together.

This experience at Wealth Retreat will be unlike any you’ve ever encountered.

And unlike other programs we understandably must limit the number of participants we can work with ensuring a unique and intensely personal environment.

Just 50 people will get to participate with us at this private retreat in May.

To qualify as a participant:

  1. You must agree to spend all designated times with me and my faculty – immersing yourself in their processes, consulting sessions, transformational work and brainstorming discussions.
  2. You might be a share investor or trader who wants to take your trading to the next level.
  3. You may already own a number of investment properties or a share portfolio. We’re looking for property investors, share traders or entrepreneurs who want to become financially independent by building a true investment “business.”
  4. If you’re already a serious property investor – ready to go to the next level and looking for a network of like minded movers and shakers – this is definitely for you.
  5. You may be a businessperson or entrepreneur – because many of the lessons you will learn will apply to other business aspects of your life.
  6. You may be interested in value add techniques that manufacture capital growth and rental returns in our flat property markets.
  7. You must be open to new strategies that produce results quicker and more safely than what the average property investor does. So you must be open to new ways of thinking and unique ways of applying knowledge.

If you qualify and will agree to diligently dedicate yourself to the learning process, we will welcome you to our Wealth Retreat for five days on May 30th to June 3rd 2015.

You can find out more and register your interest by clicking here:

But don’t count yourself out from coming… 

Every year a group of aspiring investors join us and get the type of information that propels them ahead – the type of information I would have loved to have when I started out.

If you are interested in joining us, please ring my assistant Jo Fitt on 03 9591 8888 or email her at to secure your place quickly and have a qualification interview with me.

Your journey begins just an email away. Others who’ve joined us in the past are living the life of their dreams. (In fact many are returning to Wealth Retreat this year.)

Shouldn’t the next success story be you?


The 3 Biggest Obstacles to Becoming Financially Free – Michal Yardney

Last weekend at a private client function I was conducting I had the good fortune to have conversations with a number of our Wealth Retreat graduates.

I was talking with them about their experiences since attending our 5 day workshop, what they had learned, what they were doing differently and how they were leveraging the relationships they had built at Wealth Retreat.

Some interesting comments came out which I’ll share with you in a moment, but first I want to ask you a question:

What has been the single greatest obstacle stopping you becoming financially free?

Speaking to these Wealth Retreat graduates, here were the three main hurdles I’ve seen them face.

As you read on, see which of these three get in your way. (Maybe you’re facing more than one of them!)


Obstacle #1: Isolation: It’s hard to build wealth on your own

Without question one of the biggest things I consistently hear from the Wealth Retreat graduates is that before they joined us at our 5 day retreat they were isolated in their wealth building.

They didn’t have a Mastermind group of like-minded investors, share traders, entrepreneur or business people with whom they could share their challenges, brainstorm ideas, leverage contacts or celebrate their successes.

Many said they were looking for a group of ambitious, positive, like-minded, supportive doers to help them succeed.

You see…alone you are vulnerable.

You will never reach your fullest potential.

But when you connect with the right people, a whole new set of options you never dreamed possible opens up to you.

In fact, one of the main reasons people attend Wealth Retreat is to have an instant peer group of movers and shakers. In today’s changing financial environment it’s even more important than ever to have a supportive mastermind group around you.

Can you imagine how much faster you’d reach your goals and how much more fun you would have along the way if you were a part of a community of elite wealth builders who could support you?


Obstacle #2: Fear

One of the greatest obstacles to building financial freedom is fear.

And with all the mixed messages in the press at the moment with concerns about the economy, interest rates, unemployment, the challenges with obtaining finance the talk of a property bubble and business collapsing, many of us are more fearful than ever.

This fear can be taken many forms, but the big 4 fears I come across are:

  1. Fear of failure – this is especially prevalent.
  2. Fear of debt – most of us have been taught that debt is bad and not to take on more debt. Strategic investors recognise that debt in itself is not necessarily bad, rather it’s not being able to repay your debts that’s a problem.
  3. Fear of success – Interestingly, some beginning investors put off their investment decisions because they are haunted by a fear of success. While this may initially seem strange, this fear generally stems from a feeling of unworthiness, where people convince themselves that they are undeserving of wealth or wanting to accumulate wealth makes them a bad person.
  4. Fear of the unknown – Who wants to go into a dark room? Who wants to go to a party where you don’t know anyone? Who is not nervous about buying their first investment property? Whenever the outcome is uncertain, fear rears its ugly head.

Another fear I have commonly seen is the fear to follow your passion.

Many seminar attendees I see spend 40 or more hours a week doing a job they don’t enjoy and can only dream of following their passions.

Interestingly around 30% of the attendees who attended Wealth Retreat in the past moved up and left their jobs.

I remember when Stuart, a plumber, sold and cut back his hours working in the business to concentrate on property. Last year he bought a huge multi million dollar development site with some joint venture partners to undertake a very substantial development – something he would never have dreamed of when he came to Wealth Retreat a few years ago.

Justin gave up his job in hospitality to run an Internet business. Julie gave up the security of her IT job to work for a property developer.

The shift in their mindset that they (and all the other attendees at Wealth Retreat) achieved allowed them to give up the ‘security’ of their day jobs and instead focus on the financial freedom they really wanted.

Find out more about Wealth Retreat by clicking here and register your interest online to find out more or email my assistant Jo Fitt  and she’ll explain everything.

So what’s the fear that’s stopping you?

In today’s economic climate where debt is a dirty word, many people are scared of borrowing more.

Maybe you’re like Phillip, a three time Wealth Retreat graduate.

Before Phillip joined us at Wealth Retreat one of his biggest fears was that he wouldn’t be able to borrow the money required to fund his property portfolio and allow him to keep doing deals. He had given up his job and had no income in the traditional sense.

Well, since attending Wealth Retreat, Phillip has bought several more properties and when I spoke with him a few weeks ago he told me he has sufficient financial buffers to see him through for over 3 years.

I know Phillip could not imagine he would have given up his job, let alone build and live off his property empire when he first came to Wealth Retreat.

Here is the key that has made all the difference for Phillip

and every other Wealth Retreat graduate:

When you have a peer group of high achievers and big thinkers pushing and stretching you, anything becomes possible.

How about you….

What are you doing to take advantage of the new property cycle?  

This is a time when fortunes will be made. This is a time when the rich will become richer.

So what are you going to do?

Are you going to acknowledge your fears, and then step up and take action anyway?

What would you do if you were not afraid? 

What one dream would you dare to dream and go after if you knew you could not fail?

When you play at a different level you get a different result. You will get no better chance at life than this moment!


Obstacle #3: Uncertainty

The third major obstacle I’ve observed our Wealth Retreat graduates had to overcome was confusion.

They had heard so much conflicting financial advice over the years that they quite simply didn’t know which direction to move in.

Can you relate to this feeling of being overwhelmed?

One of the most valuable benefits of Wealth Retreat for attendees was that it simplified the complex world of wealth building and business planning, so that they had a crystal clear, specifically defined plan of action to pursue their personal wealth building.

For five full days and nights they had access to top accountants, financial planners, share traders, business coaches, finance strategists and property advisors.

Take the example of Laurie, a two-time Wealth Retreat graduate:

He had been a builder and property developer for years, but he was still on a treadmill, working longer hours than ever. I clearly remember how on day 4 he had an “ah-hah” moment when it all fell into place and he said in that 10 minutes, he learned something that would make him half a million dollars.

When he returned the next year, he learned a time management skill that he was sure would make him 100% more productive.

Julie joined us, but was concerned that she could not contribute to the Wealth Retreat community. Well, she was wrong and came back a second time, but this time she was working in her field of passion – property development. 

In fact she came back twice more!

If you’re committed to step up and play with the big boys you must learn what they know because what you don’t know can get you into trouble

So there you have the three biggest obstacles that I’ve watched our Wealth Retreat graduates overcome.

Are any of the three factors in your own personal wealth building?

Find out more about Wealth Retreat by clicking here and register your interest online to find out more or email my assistant Jo Fitt  and she’ll explain everything.


The real meaning of wealth

With all this talk of making money I want to make sure we step back for a moment and look at the bigger picture.

We all know that money is only one layer of real wealth and prosperity and certainly not the most important.

Sure money is important in those areas of life where money is important, but it is not important in those areas where it is not important.

To be truly prosperous you need much more than money.

Wealthy people have time, freedom, relationships, health, spirituality and they contribute a lasting legacy.

Right now we are preparing for Wealth Retreat 2015 and have a limited number of spaces available for this exclusive event.

And maybe, just maybe, you’ll be exactly who we’re looking for.

If you think you might be the type of person who would not only benefit by being with us for 5 days at Wealth Retreat, but more importantly are over the next few years, then by all means, please keep reading.

This year some of the topics, speakers and emphasis will be different to the past. We’ve added a range of new subjects to give a more holistic curriculum.

You can also find out more at  

Why not register your interest while you’re on the site?

One of the reasons I am so excited about Wealth Retreat 2016 is because this is going to be a chance for our very top clients to mix and mingle with each other and a group of leading experts in investment, property, shares, tax, economics business and finance.

Forgetting the 5 days actual teaching time we’ll spend, can you imagine what you could learn by being around the other participants and advisors, getting their one to one input on your wealth building efforts?

As in previous years, we have strictly limited the places, so participants get the most out of their time with us. While we have many return attendees, we still have a few remaining spaces for this soon-to-be sold-out event.


Here are the three bottom line facts about Wealth Retreat 2016:


Number 1: it is an exclusive annual 5 day event that is only available to a handful of investors, traders, business people and entrepreneurs and their partners. And once these few remaining spaces are gone–and that will be very soon–then your window of opportunity will be gone.


Number 2: the week isn’t cheap, but if you are the type of person who is going to attend this won’t put you off. This way we know that all of the people at the event are 100% committed to playing at the highest levels.


Number 3: Wealth Retreat is only for real doers who are committed to building something special out of their wealth building. It’s not going to be a “seminar”. It will be an intensive networking and masterminding event where we will actually be focusing on large breakthroughs.


Why are we limiting it to so few people?

Because we realise that an event like this will be a huge success and produce incredible results if we bring together a small and highly select group of high achievers who have plenty of one on one time with the experts and networking time with the other attendees.

You may even be able to let Malcolm Turbull subsidise of your attendance…

My accountant tells me that joining us at Wealth Retreat 2016 could be a partially tax deductible for many attendees.

Just like every other year, I will personally chat with every attendee for Wealth Retreat to make sure we carefully select the best blend for the event. To be fair, I’ll do the interview on a first come, first serve basis. Once the remaining spaces are gone, that’s it.

Who Are We Looking For?

We are looking for experienced investors, share traders, business people and entrepreneurs who are willing to take on these challenging times and are committed to taking their investing and business to the highest levels.

But don’t count yourself out from coming… 

Every year a group of aspiring investors join us and get the type of information that propels them ahead – the type of information I would have loved to have when I started out.

We are also looking for people who will be a positive presence to the group and are committed to making an impact on the world.

If you are interested in joining us this year and take one of the remaining spots, or want to find out a little more I urge you to call my assistant Jo Fitt on 03 9591 8888 or email her at as soon as possible.

Of course you can also check out and register your interest there.

She will send you more details and if appropriate set up a time to have a chat with me.

Please call right now because now is the time for you to step up and seize the opportunity our current financial climate is offering us.



Today I wanted to share my top wealth creating insights from our premier property training event – our 5 day Wealth Retreat.

You see…property money

As I start preparing the curriculum for this year’s event that will be held on the Gold Coast at the end of May, I’ve been reviewing my notes from last year and spending a lot of time chatting with past attendees of Wealth Retreat

As I spoke to many of them I was blown away and humbled by the feedback as they explained how Wealth Retreat had changed the way they handle their investments, business and in fact many aspects of their life and how it was the best event they had ever attended.

Now that’s high praise indeed from people who are already successful property investors, business people and entrepreneurs, and I don’t take it for granted.

You can find out more about Wealth Retreat by clicking here.

O.K., here is the first insight …



Over the last few years it became very obvious to me was that those investors who treated their property investments like a business were the ones that managed to develop financial independence from their properties.

And those that didn’t, seemed to be working for their properties rather than the other way around.

I’m sure you’ve read that most property investors don’t get past their first or second property and that almost half of all property investors sell up in the first 5 years.

When you speak to them they’ll tell you “property doesn’t work.”

Some investors have a portfolio of negatively geared properties but have to keep supporting their cash flow shortfall.

Others can’t seem to get the funding to get past their second or third property.

And others bought positive cash flow properties but the little cash they get (if any) doesn’t alter their lifestyle.

On the other hand, a small group of Australian investors treat their properties like a business.

They are the CEO of their business and realize that it’s not how much money you make that matters, but how hard that money works for you and how much you keep that matters.

They have a plan including a property plan, a finance plan, a tax plan and an asset protection plan and are surrounded by a good team of specialists.

If you want to grow your own significant property investment business, one that could one day replace your personal exertion income, then you should really consider joining us at Wealth Retreat 2016.

Because that’s exactly what Wealth Retreat is about.

We give you a blue print to build your own property investment and then give you a tool box full of Power Tools to help you build it.

Find out more about Wealth Retreat by clicking here and register your interest online to find out more or email my assistant Jo Fitt  mention the Trading Game and she’ll explain everything.



It really struck me how easy it is to fall back into old habits and let negative outside influences dramatically impact our mindset and financial results when we are on our own.

Several people I spoke with candidly shared how they had pulled back and isolated themselves after suffering some investment problems and financing issues over the last few years, and how that isolation cost them so much more.

I can relate to this.

Many investors think they have to do it all themselves or learn it all themselves.

Partly because they think they know better than others or maybe it’s because they are not hanging around the right people – supportive, encouraging people.

And these get harder to find, the more successful you are.

But we cannot be our best selves in isolation from the world.

We need other people.

The key is making sure we’re spending time with people who inspire, empower, and encourage us.

The next two lessons really emphasize this point.



One of the things that struck me on the first night at Wealth Retreat, when we all got together for a special surprise event (the details of which I can’t reveal here, otherwise it would spoil the surprise for the attendees) was how quickly people connected with each other.

Have you ever had that experience?

Where you meet a group of people and feel like you’ve known each other for years?

May I ask you a direct question?

It’s going to be a bit blunt, but I’m not sure how to “finesse” it so here goes:

  • Will your current peer group empower you to reach your deepest dreams goals and your life’s purpose?
  • Will they hold you accountable to a high enough standard or will they let you slip back into your old comfort zone?
  • Will they feed your ideas and give you input to help you overcome challenges you face along the way?
  • Will they support you when you’re having a tough moment?
  • Do they inspire you to keep performing at your highest and best capabilities?

If not, what are you doing about changing that?

It’s ultimately up to you to find and create the peer group that will help you live the life you want to live.



Many of the investors and business people I have spoken with recently have suffered a set back over the last few years.

Some in real estate, others in the share market and some in their businesses.

And we’ve had some interesting discussions putting this into perspective and clarifying the useful lessons to take from our experiences to help us move forward.

One of the most important insights that I want to share is that when most people suffer a “loss” financially, their natural tendency is to pull back and isolate.

Some are fearful… others embarrassed…

But isolation only makes things worse. You need to accurately assess the situation, learn your lessons and move forward.

Beating yourself up is of no benefit.

This is why your peer group and mastermind team is so essential.

We are moving into a new financial era – a time of amazing opportunities and some real risks.

To succeed in this environment, we need the support, insights and perspective of a trusted group of advisers and peers.

Which brings me to my next point…



Apart from the opportunity for participants at Wealth Retreat 2016 to have one on one sessions with our expert faculty, one of the exciting parts of Wealth Retreat this year will be the “hot seats”.

This is a masterminding technique where you ask a focused power question to your mastermind group and they have 3-4 minutes to brainstorm as many possible answers to your question as possible.

If you are already a property investor, a business person or entrepreneur please click here to find out about Wealth Retreat and register your interest online and join us at Australia’s ultimate learning and networking event for investors and entrepreneurs.

Or ring my assistant Jo Fitt on 03 9591 8888 or email her  to register your interest and find out more.



The people who come to Wealth Retreat are divided into three groups.

Firstly about 15% – 20% of the attendees have been before.

Some are coming for the second, third or fourth time.

You may ask why do they come back if they are successful. I could say they are successful because they come back.

The second group of attendees are very high net worth individuals.

They come to grow and nurture their property portfolios.

Then the bulk of attendees are experienced property investors with between 2 and 10 properties, who are looking to expand their network and super-size their investing and learn skills and techniques that they would not find elsewhere to enable them to build a property investment business.

Others are business people, entrepreneurs and share traders.

But don’t count yourself out from coming…

Every year a group of aspiring investors join us and get the type of information that propels them ahead – the type of information I would have loved to have when I started out.

This year we will be having special sessions at Wealth Retreat to assist investors with their biggest challenges including finance and empowering them with proven techniques for our changing markets.

Many of the attendees want to learn how to step out of the world of being paid by the hour and into the world of building their own property investment business.

In fact many past graduates of Wealth Retreat left their jobs to pursue their passions.

If this interests you register your interest on line by clicking here, or better still email or call my assistant Jo Fitt now on 03 9591 8888, and mention Trading Game to find out more.

Wealth Retreat works so well because each of these groups of people adds something essential to the mix.

But when I observe the most successful participants from Wealth Retreat over time I notice that those people who have “made it” financially all have moved to a place that the money isn’t what motivates them.

Sure they enjoy the money, but it is not their main driver.

Let me explain… money is a sufficiency need.

Once you have enough of it, it ceases to be important.

So what is it beyond the money that pushes and prods and sparks and motivates you to perform at your best and to build and dream and dare?

When I asked people at Wealth Retreat what drove them here are their top two answers:



To touch the lives of other people.

They want to give back to people and causes that are so much bigger than they themselves are.

They believe that as they receive they need to “pay it forward” to the next generation of business owners or investors.

How are you paying it forward?



To care for their friends and family and provide an amazing lifestyle and quality of life for them, and especially to have the time to be with them.

I hope you’ve found these insights from Wealth Retreat helped give you some ideas about your own wealth creation.



While the numbers are limited (on purpose) I urge you to call my assistant Jo Fitt on 03 9591 8888 and find out more and see if you qualify to join us on the Gold Coast on May 28th to June 1st 2016.

Or email her at  to get the process started.

We have a very limited number of spaces for the event and with over 10% of spots already taken (and we’ve just started promoting it) it’s only going to get harder and harder to get in later.

If you would like to find out a little more check out our website by clicking here.


If you’re ready to commit to playing at a higher level, to spending 5 days with a select handful of other doers in an environment that will challenge and push you to even higher levels of achievement and success, then please call Jo on 03 9591 8888 or email her at  and ask her to explain a bit more about Wealth Retreat and get on the interview list.

Another 14 Ways Our Mind Plays Tricks On Us As investors – Michael Yardney

Part Two of Michael Yardneys article on psychological bias’s

We like to think we’re rational human beings.


However last month I’ve shared with you the concept that we are in fact prone to a group of cognitive biases that cause us to think and act irrationally, and this affects many of our investment decisions. Even thinking we’re rational despite evidence of irrationality in others is known as blind spot bias.I shared with you the concept of Confirmation Bias, which is the natural human tendency to seek information that confirms our pre-conceived conclusions. In my view confirmation bias is a major reason for investment mistakes, so I recommended you always attempt to challenge the status quo and seek information that causes you to question your investment strategies.

I also showed how the Bandwagon Effect describes gaining comfort in something because many other people do, or believe, the same. This is also called “herd mentality”, but we know “the herd” is usually wrong – most property investors never build a substantial portfolio. So it pays consider the concept of countercyclical investing. I also discussed the concept of being biased towards overwhelming negativity or positivity – which often becomes apparent when couples are investing, and they realise they are in opposite camps. Today in the second part of this 2 part series, I’ll examine some further ways the way our brains sneakily convince us to make decisions that aren’t always in our best interests.

1. The Ostrich effect

When an ostrich is scared, the bird supposedly buries its head in the sand to stay ignorant of the approaching threat.

The (lack of) logic is presumably: “If I can’t see it, it doesn’t exist.”

Silly, right?

Maybe it isn’t as ridiculous as it sounds, considering that humans do it, too. While we simply don’t have the neck length to literally stick our heads in the sand, people often deliberately look away from their money problems. 

Investor takeaway

Some investors avoid unpleasant information such as reading negative financial news or checking on the performance of their properties, while many Australians bury their heads in the sand about their future financial security and put off investing all together.

On the other hand successful investors read as much as they can, talk to others who have a different perspective and surround themselves with positive supportive people who help them form an objective view of what’s going on.


2. Choice-supportive bias

Here you prefer the things you own (even if they have flaws) over the things you don’t, because you made “rational” choices when you bought them.

For example, if a person buys a computer running Windows instead of one from Apple, he is likely to downplay the faults of Windows while amplifying those of Apple computers.

It’s just like when you’re convinced the investment you’ve just made is great because you spend so much time, research and emotion in selecting it. In fact you rationalize your past choices to protect your sense of self.

Investor takeaway

Now you may not necessarily be wrong, but this is a bias you should be aware of in the future when reviewing the performance of your property portfolio.


3. Clustering illusion

This is the tendency to see patterns in random events.

This is particularly true of gamblers who desperately try to ‘beat the system’ by seeing patterns of events in cards or the roulette wheel.

Investor takeaway

We are ‘pattern machines’ and recognize people and things from their overall pattern rather than full detail. While this is very useful, it does also mean we can see patterns where there are none.This selective thinking can lead to wrong conclusions when faced with the multitude of mixed messages we receive about Australia’s property market.


4. Curse of knowledge

You suffer from the curse of knowledge when you know things that other people don’t and you’ve forgotten what it’s like to not have this knowledge.

For instance, in the TV show ‘The Big Bang Theory,’ it’s difficult for scientist Sheldon Cooper to understand his waitress neighbour Penny.

I see this in relation to property investment when I come across professionals who are successful in their own field and then believe they can translate that success into the arena of real estate.

Investor takeaway

Highly intelligent people often have difficulty asking for help or taking advice because they think they should be able to work things out for themselves. So they try to tweak, improve and fine-tune some one else’s property investment strategy interpreting it with their own biases, and then wonder why it doesn’t work so well for them.

On the other hand, I’ve found that many successful investors are “dumb” – they just find a strategy that has works well for their mentors and follow it implicitly. 

If you’re the smartest person on your team you’re in trouble.


5. Overconfidence

This is the downfall of many investors.

In fact one of the worst things that can happen to an investor is to get it right the first time they buy a property. This often happens when you invest during a property boom because you tend to think you’re smarter than you are.

This occurred recently when beginning investors bought in mining towns and property values initially rose significantly. Unfortunately many are only now finding out that they weren’t as clever as they thought as the value of their properties keep falling as the mining boom deflates and there are no investors to take these dud properties off their hands.

Investor takeaway

As you can see there are a number of personal preconceptions that can influence our success as an investor as they cause us to interpret information incorrectly and therefore make less informed investment decisions.

The best defense against this is to continue to ask questions and be sceptical of your preconceptions, so you can be in the best position to enjoy strong profits from property, both now and in the future.


6. Procrastination

This is deciding to act in favour of the present moment over investing in the future.

Of course we all procrastinate at times, but in the arena of property investment those who sat on the sidelines over the last few years waiting for the investment horizon to look clearer, have missed out on some fantastic opportunities.


7. Hyperbolic discounting 

This is the tendency for people to prefer smaller payoffs now over larger payoffs later, leading one to largely disregard the future when it requires sacrifices in the present.

We all fall for this at times, you know…. “Eat drink and be merry for tomorrow we may die.”

That’s because consequences that occur at a later time, good or bad, tend to have a lot less bearing on our choices today.

In fact financial institutions such as banks and credit card companies build their businesses on hyperbolic discounting, because borrowing money and paying interest are actions that spend future resources for benefit in the present.

I guess that’s one of the reasons Warren Buffett said “Wealth is the transfer of money from the impatient to the patient.”


8. Hindsight bias

This is the tendency for people to overestimate their ability to have predicted an outcome that could not possibly have been predicted.

The problem is that too often we actually didn’t “know it all along”, we only feel as though we did.

Ultimately, hindsight bias matters because it gets in the way of learning from our experiences because if you feel like you knew it all along, it means you won’t stop to examine why something really happened.

Hindsight bias can also make us overconfident in how certain we are about our own judgments.

Investor takeaway 

It’s important to learn from our mistakes or missed opportunities so that you can become a better investor


9. Illusion of control

Illusion of control is the tendency for human beings to believe they can control or at least influence outcomes that they demonstrably have no influence over.

One simple form of this fallacy is found in casinos: when rolling dice in craps, it has been shown that people tend to throw harder for high numbers and softer for low numbers.

In property it’s the concept that you think you’ve got all your risks covered. In my mind risk is what is left after you’ve thought of all the things that can go wrong.


10 Information bias

This is the tendency to seek information when it does not affect action. More information is not always better. Indeed, with less information, people can often make more accurate assessments because too much can lead to analysis paralysis.

Investor takeaway

Successful investors take action knowing they don’t know everything yet, but they know enough to get started and are prepared to learn the rest is long the way.


11. Post-purchase rationalization

We all do some form of this at various points in our lives. We buy something. It’s not up to the standards we expected at all. Yet, we want to believe that we didn’t waste our resources, so we try to rationalize the purchase.

This happens much more often with impulse buys than with carefully planned investment decisions, yet many investors get carried away and buy one of the first properties they see, or a get excited at a seminar and sign up for a property at the back of the room when they should have known better.


13. Skill bias

It is a scary place to be when the knowledge you accumulate outweighs your experience – and the worst part is, most people don’t even realise it when it happens!

There is so much information and education available to investors that many people feel they are qualified to make significant financial decisions, despite the fact that they have no experience to back them up.

Quite easily, novice property investors (and even those who have experienced moderate success) can begin to feel infallible and overconfident. This can lead to unfortunate shortsighted decisions, which can be very costly if the properties fail to perform as you’d planned.


14. Personal history bias

Depending on your experience in life, your viewpoint will likely influence your attitude towards investing.

Research shows that the way you feel about a topic is generally pervasive and was most likely shaped by events experienced in your youth.

Someone who grew up in the Great Depression, for instance, would have a much different attitude towards money and investing than someone who grew up in a family that experienced financial prosperity during the 80’s.

These influences will show in the risks they are willing to take and the investments that appeal to them.


And now for a repeat of one of the biases I mentioned last week…


Bias bias

This is probably the most important bias of them all – the belief that you are less biased than you really are.

If you read these two blogs without realising I’m talking about you, you’re suffering from bias bias.


Michael Yardney is a director of Metropole Property Strategists who create wealth for their clients through independent, unbiased property advice and advocacy. He is best-selling author, one of Australia’s leading experts in wealth creation through property and writes the Property Update blog. Subscribe today and you’ll receive a free video training – The Golden Rules of Property Investment.


10 Psychological Tricks Our Mind Plays On Us As Investors By Michael Yardney

What is standing between you and property investing success? 

It could be YOU! 

Maybe you’re too biased to be a successful property investor?

What do I mean by that?

Well…did you know that as property investors we can sometimes be our own worst enemy?

It’s not because of the decisions we make, the opportunities we consider or the investments we miss out on, but rather, it’s due to the way we think.

That’s because we’re subject to cognitive biases — the way our brains sneakily convince us to make decisions that aren’t always in our best interests.

Cognitive biases may convince us to spend more, save less, and feel more confident in our decisions than perhaps we should. And the scary thing is, for the most part, we’re powerless against them.

Today – in the first of a 2 part series – I’m going to look at some of the most common ones.


1. Confirmation bias

People tend to search for information that confirms their view of the world and ignore what doesn’t fit.

In an uncertain world, we love to be right because it helps us make sense of things.

We do this automatically, usually without realising; partly because it’s easier to see where new pieces fit into the picture puzzle we are working on, rather than imagining a new picture.

For example if we believe that a particular type of property or a specific region will make for good investing, then we tend to only seek out news and information that supports that position.

Confirmation bias also prevents us from looking objectively at an investment we’ve already made.  Once we’ve bought a property we look for information to confirm that we’ve made a good investment while as the same time ignoring information that may indicate the investment may be a questionable one.

Investor takeaway

One way to counter confirmation bias is to read things you’re going to disagree with. In other words read all you can from reputable sources, whether it’s confirming your original view or not.

Another is to look for reasons your strategies could be wrong, rather than right.


2. Anchoring bias

We have a tendency to use anchors or reference points to make decisions and evaluations, and sometimes these lead us astray.

Anchoring explains why you’ll pay $6 for an hour of parking after seeing $10 at a car park down the street. The first number you see, especially when its a price that comes up in negotiation, colours any that come after it.

A high anchor influences you to spend more than you normally would.

Property marketers, estate agents and car sales people use this principle all the time.

They start with a high asking price and then you feel good when you extract a discount from them.

This is because the initial price you set for a house or car or more abstractly, for a deal of any kind, tends to have ramifications right through the process of coming to an agreement. Whether we like it or not, our minds keep referring back to that initial number.

Investor takeaway

As you can see it’s natural for our brain to select an anchor as a shortcut around which it makes decisions.

It’s important for you to evaluate any property deal based on it’s own fundamentals and all the information you have available form your research and due diligence at the time.


3. Awareness bias

How are your investments performing – are you happy with the results you’re getting?

There’s a chance that even if they’re not doing so well, you may not even recognise it.

In fact it’s been shown the poorest performers in all arenas of life are the least aware of their own incompetence.

Lacking the capacity to realise how badly a task is performing is known as the Dunning-Kruger effect.

Investor takeaway

If you’re the smartest person on your team you’re in trouble.

It’s best to work with mentors and professional advisors.

As a property investor you should consider getting the independent property strategists at Metropole to not only help you formulate a property strategy that is proven and has stood the test of time, but also to help you annually review your property portfolio objectively.


4. Positivity bias

Many people view residential real estate positively, considering it an asset class through which they can grow their wealth – and they continue to do view it in this light, even if their investments fail to prosper.

In the face of lack of capital growth, prolonged vacancies or inflated expenses, they still continue to believe that their investment will turn the corner “one day.”

The problem with this is that when all signs point to a dud investment, it likely is one – but positivity bias can stand in the way of an investor taking action to rectify the situation.

Investor takeaway

Overconfidence is a real risk for property investors – one of the best things an investor can do is admit what they don’t know and get a good team of professionals around them.


5. Negativity bias

Just as some investors can be overly positive this is the tendency to put more emphasis on negative experiences rather than positive ones. People with this bias feel that ‘bad is stronger than good’ and will perceive threats more than opportunities in a given situation.

Psychologists argue it’s an evolutionary adaptation – it’s better to mistake a rock for a bear than a bear for a rock.

To keep our ancestors alive, Mother Nature evolved a brain that routinely tricked them into making three mistakes: overestimating threats, underestimating opportunities, and underestimating resources (for dealing with threats and fulfilling opportunities). This is a great way to pass on genes, but a lousy way to promote quality of life or grow your wealth through property.

Investor takeaway

Fact is: there will always be property pessimists around telling us why not to invest and reminding you of all the things that can go wrong and the reality of real estate is that it is a cyclical investment class.

However you can minimise your risks and maximise your upside if you educate yourself and become financial fluent, follow a proven strategy and get a good team around you.


6. Status quo bias

This describes our tendency to stick with what we know, whether or not it’s the best course of action. It could be as simple as buying the same name-brand groceries that you always have or as complex as holding on to that underperforming property.

People do this partly because they want to avoid costs, even when it’s apparent that those costs will be offset by a larger gain, being the long-term growth of a better performing property.

Psychologists call this “loss aversion” and it explains why so many Australians are willing to stick their money in a plain old bank account earning minimal interest, rather than taking the “perceived risk” of a property investment.

Most investment decisions have an alternative – one being to maintain the status quo and to do nothing.

Investor takeaway

Psychologists have shown that most of us disproportionately stick with the status quo because “doing nothing is within the power of all men” as we often weigh the potential losses from switching from the status quo more heavily than the potential gains.

That’s why all the successful investors, business people and entrepreneurs I know have mentors coaches and mastermind groups to help them see their blind spots and to encourage them to keep moving forward. 


7. Survivorship Bias

The misconception here is that you should focus on the successful if you wish to become successful, while the truth is that when failure becomes invisible, the difference between failure and success may also become invisible.

You see…if all you’re looking at are other people’s successes, you could be missing the most important lessons for getting ahead from those who got it wrong.

Investor takeaway

If you spend your life only learning from “survivors”, buying books about successful people and reading property investment success stories, your knowledge of the world will be strongly biased and enormously incomplete.

The trick when looking for advice is to not only learn what to do, but also look for what not to do.


8. Bandwagon bias

This is the psychological phenomenon whereby people do something primarily because other people are doing it.

This tendency of people to align their beliefs and behaviours with those of a group is also called “herd mentality.”

Herding is the phenomenon by which animals and humans herd or stick together as a mechanism to enhance our safety.

The bandwagon effect has wide implications, but is commonly seen during strong property markets where the media stirs up a frenzy and it’s one of the factors that leads to asset bubbles. But when it comes to financial matters we know “the herd” is usually wrong – most property investors never build a substantial portfolio.

I’ve seen numerous investment fads and fashions come and go (USA property investing; New Zealand property; time share; mining towns; vendor finance; hot spots etc, etc) and I’ve seen many investors caught up in the hype with the mistaken belief that if others are doing it, it must be a good investment.

But as it turned out…the herd was wrong.

Investor takeaway

It pays to remember that just because everyone else is doing it, that doesn’t mean you should follow the crowds. In fact smart investors tend to invest counter cyclically.

I’ve found “ the herd is usually wrong” or if not they’re late.

Unfortunately excellence is the exception rather than the rule and that’s why I believe you should aspire to be unique and not part of the herd.

As Warren Buffet said: “ Be fearful when others are greedy and be greedy when others are fearful.”


9. Restraint bias

Following on from bandwagon bias, restraint bias is the tendency for people to overestimate their ability to control impulsive behavior.

Will you have that extra chocolate when you’re watching your weight?

Will you spend that extra hour on the Internet when you have more important things to do?

Our lives are full of temptations and some of us are better at resisting them than others. Psychologists say the very people who think they are most restrained are also most likely to be impulsive.

I’ve seen property investors plan to hold on during the flat few years that occur every property cycle knowing real estate is a long-term investment.

They might even have created a strategy or discussed a plan of attack to help guide their decisions under various circumstances. But, when the time arrives, panic kicks in… and they react just like so many others and sell up, often near the bottom – just before the cycle turns.

Investor takeaway

If you’re the smartest person on your team you’re in trouble.

It’s best to work with mentors and professional advisors.

As a property investor you should consider getting the independent property strategists at Metropole to not only help you formulate a property strategy that is proven and has stood the test of time, but also to help you annually review your property portfolio objectively.


10. Bias bias

Failing to recognise your cognitive biases is a bias in itself.

Arguably this is the most damaging bias, because having blind spots means you’re less likely to recognise any of these psychological influences in yourself.

When you think you’re more objective than you really are, you may be at risk of having bias bias.

Investor takeaway

The reality is that everyone comes into investing with their own predispositions and we are all prone to errors in judgment. The sooner you realise and acknowledge these tendencies in yourself, the more open you will be to improving and making better investment decisions.

Simply becoming aware of these biases means half your battle against your own worst enemy ­– yourself – is won.


The bottom line:

We all want to think they we are rational and biases are things that afflict other people.  However our brains are designed with blind spots and one of their clever tricks is to confer on us the comforting delusion that we, personally, do not have any biases.

This is why so many of us are not only bad with money, but make the same mistakes over and over again. We’re blind to our blindness.

I’ll share 14 more cognitive biases with you next week


Michael Yardney is a director of Metropole Property Strategists who create wealth for their clients through independent, unbiased property advice and advocacy. He is best-selling author, one of Australia’s leading experts in wealth creation through property and writes the Property Update blog. Subscribe today and you’ll receive a free video training – The Golden Rules of Property Investment.




Six Reasons Most People Will Never Get Rich …and How To Make Sure You Do! by Michael Yardney

Michael Yardney is an investment and wealth creation expert and a guest contributor for the Trading Game.

Successful investors do things in a certain way that helps them become rich while others continue do things differently and in general they tend to struggle.

I’ve come to the conclusion that when you do what most successful investors do, you get to become one of them, and if you don’t, you won’t.

So lets look at six simple reasons most people will never get rich and how to make sure you do:

Reason 1 – Most people wait to long to start:

Most people can’t wait to succeed; yet they are willing to wait to get started on the road to success.

Many investors are waiting for everything to be “perfect” before they get going. They wait for the right time in the cycle, the right property, the right economic environment or the right interest rates. Which means they never get going.

The longer you wait to get started with your investing, the longer it will be before you get the financial freedom you want. It takes time for compounding to work its magic and grow real wealth.

Fact is, the timing will never be perfect. There will always be reason not to invest “now.”

Reason 2. Fear stops them

Fear keeps many of us from getting what we want, especially in matters of money. Be honest with yourself and count the number of times fear has prevented you from taking action, and in the process cost you a lost financial opportunity.

Fear holds many potential property investors back. Some fear taking on more debt, others fear failure and some even have a fear of success.

Successful investors have learned to harness their fears and rather than focus on the negatives, they use fear to force them into positive action.

Rather than allowing fear of debt to stop them, some investors use the fear of being stuck in their job for the rest of their lives, without the financial independence that they are craving, to motivate themselves to take on the commitment of an investment property.

Reason 3. Waiting until they know enough

The fear of not knowing enough prevents other investors from getting started.

However the irony here is that the more you learn, the more you learn that you don’t know! The trap is that many investors think that the way to escape this paradox is to learn even more, so they read more books, go to more seminars, listen to CD’s and watch DVD’s.

As they learn more they find a whole heap more things they don’t yet know.

The way out is to recognize that while you don’t know it all, and you never will, you do know enough to get started with your investing and you will learn more along the way as you apply your knowledge in the real world, surviving any mistakes and challenges along the way.

Reason 4 – Focusing on linear income instead of passive income:

It is important to realise that not all income is created equal. Some streams are linear and some are passive.

Linear income is what you get from a job. You work for an hour and get paid once for that hour’s work, and that’s it. If you don’t turn up to work you don’t get paid.

Passive income is when you work once but continue to get paid over and over again from work you’re no longer doing. The way to become wealthy is having passive income coming in whether you go to work or not.

That’s what happens to property investors. Initially they work long hours, save a deposit and then invest in property. Now their money starts working for them and keeps giving them returns “passively” in the form of capital growth and rental income.

To put it simply “if you’re not making money while you sleep, you’ll never become rich.”

Reason 5 – Not using systems for making money:

A system for making money is something that takes the emotion out of your investment decisions and makes the results more reproducible. Make your investment boring, so your life can be exciting.

Reason 6 – Not being patient

Warren Buffet once said: “wealth is the transfer of money from the impatient to the patient.”

To become a successful property investor requires patience and persistence. Property is a long-term investment, not a get rich quick scheme.

Yet many investors speculate looking for that “big deal” which will land them a jackpot in a short period of time. In general these types of deals rarely occur and are speculative in nature and more risky.

Some investors look for the latest fad or try finding the next hot spot or speculative growth areas. If you are tempted to do this remind yourself that real estate has been the number one long-term multimillionaire maker throughout Australia’s history, yet most people that speculate in the latest fads have not made much money.

You don’t have to look for the latest fads or the latest speculative growth areas if you create your own capital growth through buying a good property at a fair price, then adding value through refurbishments, renovations or redevelopments. By doing this you are manufacturing your own capital growth.

So, it’s really quite simple…

Decide to do these six things that successful property investors do and you are much more likely to become a successful and wealthy property investor. If you don’t do them, then you may never get rich.

Michael Yardney also contributes to Real Estate Talk, Yahoo Personal Finance and Property Update


What Einstein can teach you about investing Michael Yardney

einstein1Michael Yardney is an investment and wealth creation expert and a guest contributor for the Trading Game.

Investment is certainly not rocket science and while you don’t have to be a genius to succeed in property or in fact nay type of investing, it never hurts to learn from great minds when trying to achieve great things.

So let’s look at some quotes that have been attributed to Albert Einstein and see how we can turn these pearls of wisdom into profits from investing.

1. If you can’t explain it simply, you don’t understand it well enough.

There’s lots to learn about success in investing and this can be overwhelming for the beginning investor.

But it’s not really complicated. Take the time to educate yourself and learn what’s really possible rather than get fooled by some of the smoke and mirrors get rich quick schemes which promise you millions with no money down and little effort.

2. Everybody is a genius. But if you judge a fish by its ability to climb a tree, it will spend its whole life believing that it is stupid.

We are all different, with different abilities and different strengths. That’s what makes the world interesting isn’t it?

You’ll be good at some things and not others. It’s OK if you’re not a genius in tax or structures or finance. Investment is a team sport so surround yourself with experts in the areas you’re not good at.

einstein23. A little knowledge is dangerous. So is a lot.

Many first time investors jump into the market without having a plan or a good team of advisors around them.

If it’s real estate investing they buy one of the first properties they come across, often close to where they live (because it’s familiar) or where they enjoy holidaying or where they want to retire. These are all emotional reasons which almost always lead to investment disaster.

While you need to have a sound understanding of property investment strategies and structures, and a good knowledge of the market on which to make your buying decision, there is such a thing as information overload.

I’ve seen many would be investors not take action and stuck in analysis paralysis. Either they’re too confused by the many mixed messages constantly barraging them, or they’re spending too long trying to educate themselves so they understand “everything” or they spend too long looking for the “perfect” investment that ticks all the boxes

I’ve found while these people are waiting for the market to be perfect, the realists are busy buying properties and making money.

4. It takes a touch of genius – and a lot of courage – to move in the opposite direction.

This is a brilliant quote, because the practice of going against the crowd and investing counter cyclically is what makes many successful property investors stand out.

Warren Buffet put it eloquently when he said: “Be fearful when others are greedy and be greedy when others are fearful.”

Sure it is easy to jump on the buying bandwagon when everything is rosy with the markets, buyer sentiment is high and economic conditions are favourable. But you need courage and foresight to take action when everyone else is paralyzed by fear and uncertainty.

Making your own path rather than following everyone else’s can be daunting, but in doing so you will enjoy many more lucrative opportunities as an investor. Because as Einstein said…

opportunity5. In the middle of difficulty lies opportunity.

Just as every boom paves the way for the next downturn, each slump sets the scene for the next upturn.

Many investors who own substantial property portfolios today sewed the seeds of their fortune during the difficult economic times when the property markets slumped after the 2003 boom or the severe downturn 12 years before that.

They took advantage of the opportunities the buyers market of their day provided and then waited for time, compounding and leverage to work their magic.

6. The world we have created is a product of our thinking; it cannot be changed without changing our thinking.

If what you are doing is not working for you then something needs to change.

When things don’t work out most investors jump from one strategy to the next. They try positive cash flow properties and when this doesn’t work they try off the plan or options or renovations. But this is rarely the solution.

These unsuccessful investors blame the economy, the banks, the market, interest rates etc. All these are out of their control.

It (whatever “it” is that is stopping you achieve what you want) won’t change until you change.

This means to become a successful investor you must work on yourself first.

Become financially fluent so that you understand the economy, our property markets and the way world of finance tax and the law as they relate to real estate.

Get a good team around you, engage a mentor who can see your blind spots and join a mastermind group of like-minded investors so you develop the right mindset.

Attend (the right) seminars and never stop working on your own personal development.

And finally…

7. Anyone who has never made a mistake has never tried anything new.

The power of all this knowledge is in its implementation. It has no benefit unless you take action.

Things won’t always work out as you’d hoped and of course there are risks involved in getting into the investment markets. But there are bigger risks to your financial security if you don’t.

Michael Yardney also contributes to Real Estate TalkYahoo Personal Finance and Property Update

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