Episode Details

Today I want to share some top wealth-creating insights that Brett Warren and I gained at Wealth Retreat.

This is Australia's number one learning and networking event for already successful property investors, businesspeople, and entrepreneurs, which we held on the Gold Coast in April last year.

As I spoke to many of the attendees from previous years, I was blown away and humbled by the feedback as they explained how Wealth Retreat had changed the way they handle their investments, business, and in fact many aspects of their life and how it was the best event they had ever attended.

So, what did they learn? That's what we're going to discuss today.

Wealth Retreat Lessons

Last year's Wealth Retreat on the Gold Coast has now been and gone.

There were 100 successful property investors, business people, and entrepreneurs in the room. And while they learned some great lessons from the world-class presenters up on stage, they also learned from the other guests over the 5 days.

After all, how often do you find yourself in a room full of successful, like-minded people, that walk and talk the same language? Opportunities like this are few and far between and not to be missed.

So today, I'm joined by Brett Warren, national director of Metropole who's been to Wealth Retreat over a dozen times, to see what lessons he learned, or re-learned, that he could share with you.

Lesson 1 – Creating Wealth is a Process, Not an Event

When I started my wealth journey, I was always waiting for something "big" to happen. I too played the lottery and waited and hoped. Maybe one day I would buy a property and develop it to then sell for a huge profit.

To my relief and probably yours, I found out there is a better way.

We had a great session about using a specific framework to find a pathway to your goals.

We started out by working out what our end goal is, that is what we would like to achieve, and in what timeframe. Then by following the proven framework, we can reverse engineer and put the steps in place to understand what is required to get there.

Lesson 2 – Time and Task Prioritisation

How is your time management?

You need to work out what your A, B, C, and D class activities are.

In short, class activities are generally events that happen maybe only a couple of times each year but can generate the greatest amount of income. An example may be attending an event like Wealth Retreat.

B class activities are next, and while not as important as A class activities will still generate a good amount of income and so on to C class and then D class activities. D class activities are the least of the income-producing tasks, like fixing a printer or minor admin tasks.

This was a great exercise to understand where you are your most dollar productive.

Lesson 3 – A Wealth Thermostat

Your mind is like a cup, once it is full of water, it overflows, and you are unable to put any more water into the cup. To take on more water, you need to increase your cup size.

So, to increase your financial thermostat, and therefore your wealth, you need to increase your mind's capacity.

If you liken the water to opportunity and your mind to the cup, once your mind reaches capacity, you may miss opportunities that come your way.

Lesson 4 – To become financially i