Each week our Talking Trading podcast helps you decide what, when, and where to trade and gives you specific techniques to lead you toward exceptional trading habits.
This week’s episode with Shelley George and Louise Bedford will show you a new perspective. We are focusing on developing your money mindset so that when you make money in the markets, it will stick.
Find out how your views about money are formed and how they can impact your life.
Learn specific techniques to lead you towards exceptional money mindset habits and how you can influence those around you to strive to achieve their full potential.
Discover how criticism is a gift and how you can hone your skills to accept people’s feedback, and thrive because of it.
You’ll hear Louise’s personal mission statement, and find out how this has influenced her life.
In this episode, you will learn the following:
- How our views about money are formed, and how they can impact our lives.
- The importance of self-awareness in relation to our money mindset.
- How our upbringing and past experiences can influence our money mindset.
Try this at home
Have you developed your own mission statement? It can help guide your activities and help you to say ‘no’.
To get you started, here is Louise’s mission statement:
“To inspire others by leading by example. To create wealth and spread my wealth to those I love and those I choose. And to nurture others to discover their true wealth so that they can change the world.”
Some Key Facts
A survey by GOBankingRates found that 64% of U.S. workers are expected to retire with less than $10,000 in dedicated retirement savings.
The other 36% aren’t in great shape either. Just over 12% say they’ll retire with anywhere from $100,000 to $500,000, and only 4% are expecting to retire with over $500,000.
Your financial future is in your hands.
- Did you know that 4 in 10 married couples have serious, recurring arguments about money? Those who have a written budget are 30% less likely to argue regularly than those without.
Plus, of the battles, 49% argue about what to buy or not buy and at what price, 33% fight about debt and 26% about savings. (Source: Matt Bell, author Planning for Fewer Financial Fights with Your Spouse)
Questions we discuss in this episode:
- What is the good life to you?
- What are money mindsets?
- Where do they come from?
- Does everyone react the same way to the same lessons? How come?
- Why might they be a problem?
- How can people go about breaking a problematic mindset? Can you do it alone? Or should you find someone to help you go through it? Follow their footsteps?
- What are some of the biggest mistakes you see people make when dealing with money?
Here’s what we covered:
[00:00:50] – What’s a good life?
[00:08:06] – Positive views about money.
[00:13:20] – Dandelion children and orchid children.
[00:17:27] – The importance of having self-awareness.
[00:21:01] – Changing money mindsets.
[00:25:55] – Having a clear mission statement.
[00:27:01] – Defining your key values.
[00:34:53] – Self-worth vs net worth.
[00:39:19] – Biggest mistakes to make when investing.
[00:43:44] – The core of money mindset.
More About Shelley
Shelley George is the co-host of Nucleus Investment Insights and the Chief Operating Officer of Nucleus Wealth. She says: “I came to my current position as Chief Operating Officer of Nucleus Wealth via over a decade of experience in financial services in various dealing and research roles. Much of my time was also spent on major, company transformation projects. From internalising management at an industry super fund, to a joint venture dissolution and multiple company-wide system upgrades.
Now I hope to be part of building the future of wealth management in Australia in such a way that makes it possible for people to live their fullest lives through empowering themselves financially. And to share this message as widely across the community as possible.”
Nucleus Investment Insights podcast: https://nucleuswealth.com/podcasts/
About Louise Bedford
Louise Bedford is a highly accomplished and experienced trader, educator, and author, with over 30 years of experience in the financial markets. She is the co-founder of The Trading Game, and is known for her unique approach to teaching trading psychology and market analysis.
Louise has authored several successful trading books, including Trading Secrets, Charting Secrets, and The Secret of Candlestick Charting. She is also a regular contributor to Ausbiz, the Your Trading Edge magazine, and is the host of the Master Your Trading Mind Hub at IG Markets Australia.
To get in touch with Louise