I recently met with Andrew Courtney and it quickly became apparent that he had a wealth of knowledge to share.
Andrew is a strategic financial advisor at Plenitude wealth. Plenitude Wealth is a holistic wealth management firm that is dedicated to making a positive change to the financial landscape of Australia and ultimately the world through creating an educational foundation of social awareness, enterprise and social consciousness. Their aim is to create a movement that will aid in the fight against limiting beliefs & absolute & relative poverty by utilising existing financial instruments everyday families can use.
Andrew David Courtney – Plenitude Wealth – Pearls of Wisdom:
1. Audit your daily habits – We are creatures of habit. If you’ve tried to make a change recently and failed, you’re not alone. I’ve literally failed to build all of my current habits at least 10 times each before I locked them down. What makes the biggest difference in habit building is how you deal with failure and what you do right after you fail. The most important habit as far as I’m concerned is to learn to embrace failure as a sign of progress, learn the lessons, move on from the set back and try and try again. Now why am I talking about habits so much, you may ask? Well, your habits in life define who you are and who you are going to be therefore if you overlay the financial context in your habit building process, you’ll find the same kind of result in the back end of your financial journey. Make sure that every habit you have is moving the needle toward your goals, not away. This is binary and results come at you like an avalanche when you understand and live by the fact that it is binary.
2. Audit your language patterns – Negative self talk is one of the most deviant ways to sabotage your progress. Always use empowering words and recalibrate the message you tell yourself when you’re learning from your mistakes. Beating yourself up is not going to help because everyone else is already doing that. Be your number one fan, block out everyone else’s opinion in your life and choose who your influencers will be. The beauty of the world we live in today is we’ve had an unprecedented amount of information freely available to us at a click of a button so use it to your advantage. Ask yourself what your chosen person/people would do in the exact situation you are in and play the game at a different level. Choose your internal dialogue wisely is a big takeaway. Going off the back of that, the words you use in everyday conversations can also impact the results you get from increasing your influence, getting a result you’ve always wanted, making new friends, empowering yourselves and others and making a difference in people’s lives. Words are powerful. Use the right ones and set yourself up for the pathway to success.
3. Always plan ahead – I have never heard of anyone successful who did not have a plan. The key steps to take are: know where you are today, know where you want to be and make the necessary changes to get to the end point. This is called planning. Now if you constantly ask yourself what can I do to make my progress go faster or how can I make it better? You are bound to effect the changes one needs to make to create a synergistic tidal wave of results that comes from patiently tinkering at your craft to make it better. Financially, you’ll need to know what capital you’ll need to produce the income you desire at the back end of your investment career. Set yourself a “goal”, a “stretch goal” and a “scary as all hell goal” and run it against a timeline. Be ambitious and be prepared to change course if you’re not on track. Goals are not meant to be set in stone but be as flexible as you need them to be. It doesn’t make any sense to keep an old goal that is not aligned to your current values. Reverse engineer the ideal outcome and use all the available resources you have at your disposal. If you’re not aware of the resources, get help. No highly successful person got there alone. It makes sense to build a solid team around you. The sooner the better!
4. Your network is your net worth – Start building your network and nurturing the relationships you deem worthwhile. Yes it sounds Machiavellian but it makes a hell of a lot more sense to keep the contacts you have that you can have a relationship of mutual benefit rather than a one sided affair. Protect your time and only spend it with people who are making you happy, helping you, providing you with support and an overall feeling of positivity. It’s just not worth filling your mobile full of numbers that are negative influences in your life. Just like habits, treat this exercise as a binary one. People are either helping you or hindering you in achieving your lifestyle and financial goals. Choose who you spend your time with wisely as the people you surround yourself with will ultimately determine what kind of future you are going to have. Find a way to build three groups in your life: your peers, a group of people you can mentor and a group of mentors. Having all three groups in your life will allow you to see your life from a different perspective and save yourself a bunch of time.
5. Audit your finances and always optimise for a synergistic outcome – Learn from others who have gone down the path you’re heading toward. Push the boundaries by being open to ideas that make sense and ensure you are pushing yourself past your financial comfort zone. The status quo is very alluring for most people and can certainly feel very comfortable. I can tell you right now that no one who is comfortably down the path of status quo feels anywhere near financially resilient. Your aim should be to become financially flexible, free and resilient. Now this is different for all of us as your lifestyle choices will dictate what level of capital (savings) you’ll need to produce the income you want. What I suggest you do is to make sure you live within your means and challenge yourself to save 1% more every month. If you do this, it will take you 4 years to get pretty close to saving 50% of your income which is more than enough for you to achieve all of your financial and lifestyle dreams in the back end of your investment career. Don’t succumb to thinking that your career is 35 years long. People overestimate what they can do in a year and underestimate what they can achieve in 10 years. It’s amazing to see what is possible if you set the right financial habits from the start of your career and learn from professionals who walk the walk.
Andrew regularly posts lots of valuable content on his social media channels. I strongly recommend you connect:
Instagram account @andrewdavidcourtney
YouTube Channel: https://www.youtube.com/channel/UCxUM-cwXx-xnxP5kelhKQWw