Podcast

How to master your money for wealth creation

Steve McKnight is an expert when it comes to personal finance and money management. He’s a self-made multi-millionaire, real estate mogul and a financial educator.

He joins us to share insider tips from his book Money Magnet and gives us valuable insights into attracting money, building wealth, and creating a purpose-driven financial future.

Key Topics

Mindset and Attracting Money

  • Attracting money as a learnable skill
  • Insider tips from Steve’s book “Money Magnet”
  • Influence of childhood experiences with money on financial habits
  • Contrast between parents’ financial habits and their effect on Steve’s mindset
  • Importance of having money conversations in relationships
  • The possibility of changing one’s money mindset and seeking help to do so

Real Estate and Wealth Creation

  • Early investment experience with term deposit and first investment property in 1999
  • Challenges of property investment and the need for new real estate buying tactics
  • Viewing real estate as a means of creating wealth rather than the only option
  • Importance of investing in what is understood and managing finances
  • Acquiring skills to increase returns without higher risks
  • Emphasizing accountability to avoid indulgent spending and financial traps

Financial Vision and Habits

  • Inheritance of parents’ financial DNA and its impact on financial habits
  • Money as a tool with a purpose, rather than just accumulating wealth
  • The significance of delayed gratification and discipline in achieving financial goals
  • Influence of consumer-driven society and social media on spending habits
  • Perils of debt and the need to develop better money habits
  • Shifting from survival to significance and casting a vision for a new financial future
  • Formula for wealth creation and McKnight’s advice on mastering financial skills and passing on knowledge

Philanthropy and Legacy

  • The importance of not letting wealth stem from insecurity or the need to impress others
  • Concept of two mountains: survival and significance
  • Poor money habits to avoid
  • The significance of philanthropy and the organization Tree Change in that regard
  • Advices on property investments and McKnight’s top three investing tips

Timestamped overview

00:00 Weekly podcast explores attracting money and wealth.

03:32 Started with term deposit, now property expert.

08:42 Wealth can stem from insecurity and desire.

12:09 Living without vision, purpose – invest for future.

15:02 Wealth creation formula lies in spending, investing, returns.

17:40 3 tips: measure, learn to multiply money.

22:22 Influencers shape our desires, consider long-term impact.

24:57 Debt can lead to financial disempowerment.

27:14 Passionate about creating native forests for eco-restoration.

Host: Cec Busby

Producer: Michael Marren

Guest: Steve McKnight. Find out more about Steve.

 

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