⏫ 3 "foundationals" to grow net worth

The last few issues have been pretty tactical. Today’s issue is more foundational.

If you want to grow your net worth the right way, here are 3 things to focus on (and don’t sleep on the last one).

1) Wisdom. 🧠

Knowledge is one thing, wisdom is another.

“Wisdom takes knowledge and applies it with discernment based on experience, evaluation, and lessons learned.” - dictionary .com

💡 Knowledge is knowing how something works. Wisdom is knowing why … and how to make it work for you.

Early in my net worth journey, I soaked up as much helpful content as I could. How to save, make more money, invest in real estate, etc.

It was really helpful to me and got me fired up.

But I realized pretty quickly it was one thing to read a great book or listen to an awesome podcast, and a totally different thing to feel confident applying it.

Successful application takes wisdom.

What I’ve found key: 

🔑 Mentors who’ve been there, done that + have high character (i.e. people whose life I admired, not just financial success).

🔑 Taking smart risk and applying learnings as I go.

Wisdom is earned with bumps along the way, but you can avoid a lot of those bumps by having mentors who’ve been there, done that.

👴🏻 Age is correlative with wisdom, but not an exclusive prerequisite. You can glean wisdom if you pursue it as the Proverbs say (true wisdom is from God, seeking Him and His Kingdom first and above all).

2) Skills. 🌎

You know, the stuff 90% of college does a poor job teaching … the stuff that enables you to create actual value in the real world and MAKE MORE MONEY.

Skills like: leadership, sales, positioning, negotiation, ideal job capture, personal branding, modern digital marketing, networking, personal finance, real estate investing, etc

🦻🏼Don’t hear me wrong: I’m ALL about investing in education, specifically skill development. I just think traditional academia has been doing a poor job equipping the skills that actually matter in today’s world …

Lots of people have no problem going into debt for questionable-ROI undergrad / grad degrees.

Instead, be willing to invest in yourself to acquire skills and mentorship that most directly support your life goals

(it can be a lot cheaper with a much higher return).

3) Belief. 💙

Like the other 2 things on this list, belief is a spectrum. It’s not a binary “either you have it or you don’t.”

It’s, how much do you believe?

You can gain wisdom and skills in spades, but if belief that you will win is lacking, it’s hard to accomplish things of real significance.

How do you grow belief? It starts with identifying, then rooting out limiting beliefs.

This is what we call the “heart work.” If enough people are interested on this, I’ll expound more on limiting beliefs and heart work in a future issue down the road.

BOTTOM LINE: what are you specifically doing to gain Wisdom, grow Skills, and increase Belief?

Reading this newsletter each week is a great start I hope. 🙏🏼

In your corner,

Blake Bozarth

When you're ready, here are 3 ways I can help you:

1. ​Free Live Session: upcoming topics include The HYSH: how to choose a High Yield Side Hustle, Low Risk REI: how to build a small real estate portfolio in today’s market, and Getting a Raise: positioning for more comp in your day job. It’s a closed session with Q&A, ask me anything – submit this form to get calendar invite (usually on a Friday afternoon).

2. ​Net Worth Coach: flagship course, coaching, + community to reach financial freedom faster (for 20 & 30 somethings working 9-5 jobs)

3. Entrusted Mastermind: mastermind community for men earning 150K+ (in a job they may or may not want to leave one day). Faith. Family. Wealth Building.