Reading The Top 10 Reasons the Rich Go Broke by John MacGregor

Hello wet, cold, chilly and muddy Wednesday! I should probably get out of bed and pour myself another cup of coffee, but having made three trips to the bathroom in one hour, let’s put the coffee on hold until I’ve finished writing this.

How are you?

How are you really holding on wherever you are?

I traveled back to Mbita- a 3 hour drive away from Kisumu, to see to the implementation of the projects we had initiated before the Corona shutdown, and now that I am back, I can’t say I’ve been out and about- because there are still measures in place- the physical distancing, wearing of masks, washing of hands and simply making sure there is little physical contact and it’s hard especially with communities in the rural areas where I work. They saw me and wanted to hug me, greet me and some were inviting me to their homes for meal-and I truly missed such connections. It was even harder reminding them that there was still the need no physical contact to help curb Corona.

So, I settled down from Monday and started reading The Top 10 Reasons why the Rich Go Broke. I truly need to manage my finances and from March, the stringent measures taken worldwide to deal with Corona showed me that one; I had no emergency funds, surviving from paycheck to paycheck is like walking on broken glass, and I definitely have to develop and invest in new modes of income.

Respect what you do, earn enough to be careful where to put it.

The author talks an crippling internal weakness we all share which he defines as the B.E.A.R Trap: Beliefs, Excuses, Actions and Results

He asked a simple question that’s got me thinking about our education system and it’s given me ideas to explore and actualize. This question was “why do we have so much trouble understanding money?”

He goes on to share the 10 reasons we give that lead to traps that affect our finances and each chapter is dedicated to exploring these factors. Trap one was my absolute favorite “Stuck on the Outside,” because no matter how hard we try, when I look all around me, it’s the one trap we all fall into. Doing everything for the Gram! Trying to catch up with others- buying stuff we don’t need to please people we don’t know.

This is another gem I got from Netgalley- and now I have 12 more titles in different genres to read and enjoy.

And, I’m big on those phrases that spark something in me, some of the few that got me thinking herein were:

The cost of an item isn’t simply what it’s sold for, but what it costs the owner to own.

True change can occur only when a person is able to acknowledge how their BELIEFS mold their EXCUSES which manipulate their ACTIONS that opens the avenue to a sincere desire to make change for better RESULTS.

So, what’s your story when it comes to money?

My take on this: Star clipart no background 3 » Clipart StationStar clipart no background 3 » Clipart StationStar clipart no background 3 » Clipart StationStar clipart no background 3 » Clipart Station

I would however advise that no reader should be fooled by the title. This book does not talk about billionaires or mention any of them as case studies, but rather it focuses on you and me- and if you have access to money and you think you are not rich…then that belief right there would make you miss out on some pretty good advice here.

You can get a copy from Amazon: here


About the author:

John MacGregor CFP

John has been a leader and innovator in the financial services industry for over 25 years and his true passion is helping people understand how easy it is to live a financially secure life if they have the right mindset and process in place. John is the Founder & Executive Director of ThrivePath – The Revolutionary Process to Financial Freedom and Peace of Mind. He is the author of The Top 10 Reasons the Rich Go Broke: Powerful Stories That Will Transform Your Financial Life… Forever, The Ultimate Guide to Selecting a Financial Advisor, Unlock Your Money Code – Master Your Mind And Live Your Rich Life and The Legacy Book – What To Do Before Your Loved One Passes.

To work with John visit https://www.johnmacgregor.net/

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