Myths That Keep You Broke #4

Myth #4 - Your Friends (Who You Hang Around With) Don’t Matter:   

You may have some friends from when you were very young, or from high school, or from college, and you really enjoy hanging with them. Once per month I actually have lunch with 8 – 18 friends with whom I went to elementary school, over 50 years ago.

However, those are not the folks that are responsible for supporting me to create wealth. As Jim Rohn said, “You are the average of the five people you spend the most time with.” And this applies to your income as well as other areas.

Who you hang around with does matter.

If you hang around people who earn a minimum wage, it is likely your income will be similar. If you want your income to grow, hang around people who earn much, much more than you do. Their ideas and their attitudes about money will rub off onto you.

If you earn $100 per hour, hang around with people who earn $400-500 per hour. Or better yet, do not hang around with people who have to sell their time for money. Hang around people who make money based on what they create or the results they produce.

I was not willing to hang around jerks, but with people who had the values I admire and were successful. Many years ago, I realized that if I wanted to create wealth I needed to hang around people who earned far more than me and who had a net worth far larger than mine. Guess what? How they think and their attitudes rubbed off on me.

Where before  I saw blocks, I started to see opportunities. I looked at how to effectively grow my business and how to create large dollar contracts and there were more changes as well. Who you hang around with is one of your keys to open the door to more wealth.

As an example, I wanted to earn money from investments, and not from work. So I started to hang around with people who had large investment portfolios and we spoke about what they did, who was doing things for them, where they saw the growth opportunities and so on. In ONE MONTH recently, our portfolio grew by $524,020. I couldn’t earn that much money if I worked 40 hours per week for three and a half years at $100 per hour.

If you hang around people who earn hundreds of thousands of dollars per year, it is likely that over time, your income will grow to that level. It STARTS with who you hang around with, and not the other way around. Look at who your friends are and how much time you spend with them.

I am NOT saying dump your friends. I am suggesting you add to your circle of friends those people who are where you want to be; people who share your values and have achieved what you want to achieve; people who are what you want to be and have what you want to have.

Who would be three to five people you would want to spend more time with that you can invite to coffee?

To Your Prosperity,

Rennie