Psychological Resistance: What’s Keeping You From Prosperity
I love what I do. I love educating people about a different way to play the financial game. The challenge is that what I teach is unbelievably simple, which has clients thinking this method is too good to be true. A test is easy once you know the answers, and I have the answers. But before we can get to those, you need to unlearn a lifetime’s worth of standard financial practices.
The BankosaurusTM is contrary to what 99% of the financial industry promotes every day, all day long via its advisors, print, articles, and commercials on business news channels (CNBC, Bloomberg, Fox Business, etc.).
The initial struggle with new clients is undoing all this “one and only way” brainwashing we’ve had since we were kids. I’m no different, in that sense. When I first discovered in 2011 how powerful the BankosaurusTM could be for me, my family, friends, and future clients, I knew I needed to teach this to the world. Yet, it still took me nine months of studying, questioning, and testing different designs and concepts before my first client (me) bought in (doubled down actually) on the financial strategy.
Change can be very uncomfortable. But once you embrace it and remove the financial garbage that has been dumped into our brain most of our lives, amazing things start to happen.
My new clients are always baffled when I explain this new way to play the game. “How come no one’s ever taught this to me before? That’s how banks and Wall Street make so much money!?” Together we walk through the math (which does not lie) and they see the numbers and cannot believe the amount of their wealth taken via taxes, commissions, and money management fees in a 401(k). “This can’t be real!” “Why have we been told to do a 401(k)?
Don’t believe me? Try This 5-Minute Homework Assignment: Get your 401(k) statement from the end of 2017 and your most recent statement, subtract everything you put in for this year and ask if you are happy with the rate of return. Or call me and I can do a quick calculation for you to show the number. Spoiler alert: I have prospective clients do this exercise, and I have yet to witness someone who is happy with the results, even though the market has been on a tear since 2009.
The financial industry promotes tying up your money for a very long time with a lot of market volatility, uncertainty, compounding taxes on your investments, money management fees, and giving it back to you in small doses at retirement.
I promote having control, use, enjoyment of your money today, and strategically changing the flow of YOUR money so you can have a way wealthier tomorrow. It’s simple. And fun.
Let’s Review The Matrix
Making the appropriate changes to build your own BankosaurusTM is simple, but that’s not the problem. The problem lies in our psychological resistance to change. There’s no doubt that change in and of itself can be hard. Change requires us to let go of our old reality in order to step fully into a new one.
For those who have watched The Matrix (my family loves that movie), this psychological resistance to change was how Neo responded when he learned the truth about The Matrix.
The change was hard for me initially in 2011. I knew what I was taught was wrong and faulty. I was craving a different way to play the financial game, and I found it. Everything was true to me. The math made sense. All the economic principles made sense. But it was too simple. How come no one taught this to me before? This is why it still took me nine months to pull the trigger.
I can assure you that once you punch through that mental hurdle of going against the financial norm, profound things will happen for you and your family. Do the mental push-ups. Step back, look at what the norm in this country has accomplished for retirement. The average American family between 32 to 61 have a median retirement savings of only $60,000.
Ask yourself, “Do I want to be the norm? Or do I want to embrace a unique approach? A different approach and become the top 5%?”
A very sharp and motivated new client recently asked me in our Strategy & Design Meeting, “Ken, why do you think we have never been taught about finances and how banks and Wall Street make money in elementary school, high school, or college?” We both had our theories, and I’m not going to share our answers at this time. But it’s a great question? What do you think?
Are you ready to get uncomfortable? Are you ready to punch through the huge resistance of change? Are you ready to become the top 5%? I’m here to help–to give you the answers to the test, so it can become easy. And I will coach and help you along the way.