030: Money Mindset Shift with Ron Malhotra

Today’s guest is a wealth advisor who leads a large community called The Successful Male and hosts a live event, The Ultimate, in Australia. Ron Malhotra has studied neuroscience, behavioral finance, and neuroeconomics. In Ron's learning and education, he has developed a passion for redefining success and helping men better their results in every area of their life. Ron and Nicholas discuss money habits, success, personal development.

Time Stamped Show Notes

[ 2:00 ] Money Habits: Your Relationship with Your Money. [ 5:51 ] What does Success mean? [ 6:50 ] Goal Setting. [ 7:45 ] How did The Successful Male start? [ 11:31 ] Redefining Success for Men. [  17:10 ] Implementing Change for Massive Breakthrough. [ 20:17 ] Knowing and Understanding How You Work. [ 22:00 ] Success Principles. [ 24:00 ] Heart and Mind. [ 31:02 ] Self Image. [ 33:00 ] Happiness is a Consequence. [ 36:00 ] The Atmosphere: Surrounding Yourself with The Right People                                                    

Takeaways:

Many people believe that their financial struggles are only circumstantial. 85% lottery winners become bankrupt not long after. How people think contributes to their money mindset. Ron has identified 27 different components of success. Goal Setting being one of them. The problem in goal setting is that many people don’t know who they are, what their values are, strengths, their purpose, passion, and mission. When you don’t know these key things you risk setting the wrong types of goals. The 27 elements cover all the key components you need to know about yourself in order to cultivate success. You must have a burning desire, in order to have the desire, you must find the things that inspire you. Many people look for things that motivate them. Motivation, which comes from an outside source, is arbitrary, you should be looking for inspiration. Anytime you are looking for inspiration, it cannot be an intellectual decision, it needs to be a heart-based decision.  Studies have actually shown that the heart has its own intelligence. Our feelings can give us a good indication as to what we were good at. Ask yourself: when did I feel like I was thriving, what would I do for free? The world puts pressure on us to make “career” choices, when you really should be making decisions based on what you are good at, based on what you love, based on what fulfills you. Research has shown that we have 15000-18000 thoughts a day. But where do those thoughts come from? If you are not happy with the results you are getting, think back to how you go there. Typically your results are based on the decisions you have been making, those decisions can then be traced back to the feelings that influence those choices. Those feelings come from how you think. Your mind is programmed in a certain way which produces certain thoughts. Therefore you cannot just change your actions and expect those results to change. You must go to the root and change your mindset before you truly see any improvement in your results. If you first clear your mind and define what success is to you, you will start seeing the opportunities arise because you actively focused on finding them. If you are not clear on your success you will miss out. If you do not emotionally view your success, dream about it it will not manifest for you. 

Resources:

Success Blueprint: https://www.ronmalhotra.com/the-successful-male/

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Thanks for listening,

Nicholas Bayerle

 

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