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But according to Tony Robbins, it all starts with mindset.
Every financial decision felt like this wasnt for him because he had a scarcity mindset.
I used to think money was something I had to chase.
No matter how hard I worked, I was always behind on everything, Dave said.
This mental shift helped him see opportunities to grow, save and invest.
Overcoming Fear and Taking Action
Fear is one of the things holding back many people.
Dave was in the exact similar situation.
He was afraid of making mistakes and losing money.
I told myself that Id start investing when I had more money, he said.
Through one of Robbins podcasts, Dave found that fear is the greatest enemy.
He realized he had wasted years waiting to feel ready when what he actually needed was to get started.
He took action to achieve his goals regardless of his age.
He opened an investment account and began his investing journey.
The pay yourself first principle he learned from Robbins changed how he managed his finances.
Instead of paying bills first, he paid himself first before spending his paycheck on anything else.
Dave made this a non-negotiable habit.
Investing Like the Ultra-Wealthy
Dave learned from Robbins that the ultra-wealthy dont work for money.
Money works harder for them.
They leverage time, diversification and compound interest to build wealth consistently.
I had never really paid much attention to how investments and compound interest worked, Dave recounted.
I was convinced that I couldnt grow a few thousand dollars into a significant amount.
However, I was wrong.
Robbins always said that thebiggest mistake peoplemake today is not harnessing the power of compound interest.
You dont need millions of dollars for this principle to work.
Dave remembers the first deposit he made into his investment account was $200.
It seems small, but consistency and compound interest have enabled him to build wealth faster.
Build Multiple Income Streams
Before knowing Robbins, Dave relied on his 9 to 5.
He believed the easiest way to boost his income was by climbing the corporate ladder.
Robbins made me realize that I was one paycheck away from a financial disaster.
If I lost my job, I had no other income, the realtor said.
He started a side hustle by leveraging his skills.
Dave now hasmultiple income streams, and some are even making him money while he sleeps.
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