From Scarcity to Abundance: 15 Foundations that Create a Rich Life With No Regrets

a rich life is one with few or better yet no regrets and an abundance of financial safety in a book called the top five regrets of the dying the number one regret was I wish I'd had the courage to live life true to myself not the life others expected of me and in a consumer affairs survey the top Financial regrets were too much credit card debt and too little savings for emergencies and retirement but to have no regrets you have to live life according to your rules while Building Wealth according to society's rules so how

do you achieve that kind of balance how do you protect and grow your financial emotional physical and intellectual life it's more than just following old footsteps it's about building the strongest foundations that will hold up even when you're thrown over and here's how welcome to alux the place where future billionaires come to get inspired number one you have to live for today and tomorrow if you struggle with savings sticking to a budget and following your own Financial rules then it's probably because your behavior is influenced by your scarcity mindset it's as if some alien is

controlling your behavior at the moment not you and this alien sends the message that if you don't do that now or buy this now then you're never going to get the chance ever again to preserve your wealth you have to make decisions that always align with your long-term goals you can't make those decisions if this scarcity mindset alien is controlling you and your actions it makes fighting those impulsive decisions so much harder you have to constantly remind yourself that life is more than just about yoloing your way through it that living to the fullest isn't

about being irresponsible no and that thinking about your future is just as important as living in the present yes you've got one life but that life is about today and tomorrow so you have to make decisions for both timelines number two you can only win by letting go of your fear of losing most people would rather avoid losing $10 than gaining $20 it's called loss aversion it's an ancient evolutionary trait that we needed for survival at one point because if you lost your food you would be done for but these days there is enough to

go around so what happens instead is that this psychological bias keeps you Clinging On to bad Investments and makes you scared to take risks you can't grow your wealth this way okay growth comes from taking risks so you have to let go of that fear of losing what you already have that richer life it demands you think strategically cut ties with things that aren't working for you your future self will thank you number three you have to be proactive not reactive with your health your body is your greatest asset without it your wealth career and

relationships can't Thrive most chronic illnesses are because of poor diet a lack of exercise and a lot of stress did you know the average cost of treating type 2 diabetes can cost more than $116,000 a year a healthy diet and regular exercise cost a fraction of that changing your behavior when you have to is too late protecting your wealth means prioritizing your health right now we talk about the simple and effective things like a balanced diet regular exercise and good mental health practices so much because it leads to less stress later on these are tools

to keep you functioning at your best even during your worst times it's protecting your health now that will allow you to enjoy the wealth and richness of life that you're working so hard to build number four you Safeguard your assets by knowing where You're vulnerable do you know where you're most at risk in your life everyone is vulnerable in some way you have to find out where that is for you and create safety nets to protect yourself and your family insurance is key here Health Life Property even disability insurance we know it can be hard

parting with that money especially if you do it month after month when you feel feel like you don't really need it right now but the Peace of Mind you'll have knowing that you have a safety net for the most important things will allow you to soar this isn't just about surviving a crisis it's about holding on to control of your life when the unexpected happens those with a safety net can make clearheaded decisions while those without one are forced into desperate acts think of insurance as buying yourself time and options in a moment of crisis

number five you merge education opportunities and Investments when people talk about their biggest regrets in life they'll always mention three things that you can actually combine to combat first they take advantage of great opportunities second they failed to focus on educating themselves in certain spaces usually because they felt like they didn't belong there and third they avoided investing in certain assets because they didn't understand how they worked well you can merge these three things to use the opportunities you have available to you to learn from them and generate an income and the sponsor of today's

video Masterworks is the perfect conduit for this merger first it's an opportunity for you to invest in Fine Art a space that for a long time was reserved for royalty or the mega Rich Masterworks as experts purchase Blue Chip art like bangy bosot and Warhol paintings and break it down into shares investors buy those shares just like you would do with a traditional company on the stock market when the piece of art sells the profits are distributed to shareholders and this is brilliant because 83% of multi-millionaire respondents 43 years old and younger told the Bank

of America they currently collect art for a slice of their portfolio or would like to you can educate yourself on the world of art not just in terms of making money but also in the messages and pieces of work that are resonating with people with Masterworks as experts facilitating the buying and selling of your investment you can learn about the world of Fine Art without taking the risk of buying into something that you don't fully understand just yet as you spend time on the platform you can ask yourself questions like why are there experts interested

in this piece what does it say about the interests of the world right now why do people want to buy this one what does it say about the message this artwork is conveying the ability to learn and make money without risking everything because you're still learning is a fantastic opportunity and you can invest in Safe Haven assets Investments that will hold strong even when the economy is struggling because look okay art as an asset class has been outperforming the S&P 500 for over 20 years and right now low prices in the Art Market are demonstrating

a rare entry opportunity and even still Masterworks recently posted another profitable return from selling a BOS yacht painting for $8 million investors have realized annualized net returns of 17.6% 17.8% and 21.5% from assets held for one year usually services like Masterworks have a long wait list and traditionally only High net worth individuals were approved but since you're an Aug subscriber you're getting preferential treatment go to Masterwork doart alux or scan the QR code on screen right now to skip the wait list and start investing in Blue Chip art today number six you escape debt by

learning to resist instant gratification now the funny thing about instant gratification is it doesn't matter how much you know it affects you now it's about being able to resist the urge then when that impulse moment hits you're good right now you're motivated you're watching this video right you'll be motivated and determined for the next few hours but you have to carry this feeling all the way to when that Temptation hits you that is the truly hard part studies show that in those tempting moments just reminding yourself about what's actually pushing you to make the purchase

is enough to get you to stop the top two reasons people buy things they don't need is because of stress and not wanting to miss out that's the scarcity mindset coming back to mess with you you won't miss out by resisting the urge one two or three times in fact you will gain keep that Mantra in mind okay I will gain more later by letting go right now and it won't feel like sacrificing something is limiting your freedom instead it'll feel like expanding on that freedom for you in the future which leads us to our

next Point number seven you build future wealth with a growth mindset raise your hand if you think that your biggest barrier to building your wealth is your current income we bet many of you have got your hand up in the air right now your income barrier is right at the top right and if you believe that this is your only reason for not building your wealth then fixing it is going to be really difficult because well the paths are limited you open up more paths when you dig deeper when you put control back into your

own hands the biggest barrier to building future wealth is the belief that you're stuck where you are because you are not stuck where you are okay but the more you stay there the more you will trap yourself in that belief now most people dismiss the idea of a growth mindset because it sounds like you just have to be positive right and that's not what this is about the majority maity of self-made wealthy people started from a place of uncertainty just like many of you but they didn't allow that uncertainty to stop them they couldn't you

have to know what your skills habits and intelligence can be developed into and focusing on this development leads you to Growing your wealth faster and better than focusing on what you're not getting from your job you have to be willing to learn that's how you grow your income if learning is difficult for you in one area we'll find a space where it's enjoyable and easier and there is a space the human brain craves learning although not in the same way for everyone right a growth mindset says you believe that managing your life is within your

hands and capability and the more you learn in different areas the more control you give to yourself number eight a rich life comes from sharing your resources it seems crazy that sharing your resources giving things away can actually add more to your pot that's why so many people hoard what they have but that's another scarcity lesson and it's one that people speak about regretting at the end of their life generosity is a powerful signal to yourself and others about your relationship with wealth when you give whether it's your time your knowledge your resources you prove

to yourself that there is enough this mindset creates what psychologists call the abundance Loop giving increases your sense of control and security which reduces Financial stress and boosts your life satisfaction a study from Harvard Business School found that people who spent money on others felt happier than those who spent it on themselves and beyond that generosity strengthens relationships and builds trust which are invaluable Assets in your career and business life generosity creates practical measurable benefits try it out okay you'll see just how good it makes you feel number nine you get more financial confidence by

reducing cognitive overload mental clutter costs you so much financially every day you're making hundreds of micro decisions what to buy where to invest how much to save and this constant decision- making wears down your focus on the bigger picture they call it decision fatigue and it's one of the greatest enemies of Building Wealth and appreciating what you already have you are more likely to make bad decisions later in the day because your mental energy is depleted by that point that's why people with a high net worth wear the same outfits every day and automate their

finances it's just how they conserve their mental bandwidth you should be doing the same thing in your own way it sounds simple but to protect your wealth you have to automate your Baseline savings and Investments once you've got your automations in place you can play around with adding more and moving your money around but always make sure that you have that automated foundation in place if you make a mistake it won't cost you that much if you want to take a risk you'll know that you're still covered if you're stressed and you can't focus on

your financial health for the next few weeks you'll know you've already protected yourself a part of being disciplined is taking away that need to always be disciplined give yourself the chance to make the right decisions without always always having to put in so much effort number 10 you adapt and Thrive by letting go of sunk costs the sunk cost fallacy is one of the heaviest weights holding people back from protecting and growing their wealth and a richer life it's a mindset that seeps into every part of your life not just a bad stock investment or

a failing business no that fear of cutting ties with someone because of how much you've invested will only push you to invest more and more until you're left with nothing when you're scared of letting go of something or someone ask yourself why is it because of how much you've already put into this it's a reasonable fear to have but there is a point where you have to know that it's not going to get any better wealthy people thrive because they know when to quit they see opportunity costs clearly understanding that every dollar or hour spent

on something unproductive is a dollar or hour that could go towards something better Jeff Bezos shut down many Amazon Ventures early on because they just weren't scalable even after he invested millions of dollars in them cutting your losses isn't always a sign of failure it's also freeing yourself from what's dragging you down and that my friend is progress okay number 11 growing your wealth and connecting with nature go hand inand now these two might sound totally unrelated right billionaires spend most of their time in their offices ah but we don't know that okay in fact

we've seen many pictures of them on their Yachts having the time of their lives out in the ocean look at the Estates they're filled with Greenery and Gardens it might not be all Mann and landscaped by them but they sure seem to enjoy it enough building your wealth isn't about grinding endlessly the brain just doesn't work that way staring at the same four walls creates a mental fatigue that leads to making bad decisions an increasing impulsive behavior these things sabotage your Financial Health even as you're trying to improve it connecting with nature though is one

of the best ways to reset that clutter it recalibrates your mind to make better decisions being in nature grounds you and gives you a clearer idea of your goals and what you're doing to get there protecting your wealth starts with protecting your ability to think clearly and nothing does that better than stepping outside there's no point in spending all of your time growing your wealth and then not having the mental and emotional energy to enjoy it so get outside for a little bit hey luxir go touch some grass number 12 protect generational wealth by planning

your estate now the next step of protecting and preserving your wealth is to do the same thing for your legacies estate planning might sound like something only the Uber Rich need to worry about but that is not the case at all okay everything you've worked for could disappear because of taxes legal fees or family disputes studies show that 60% of people don't have a will and without a will the people you leave behind have to navigate the financial chaos during an already difficult time as you start building your wealth think about the Legacy you want

to leave how do you want your grandchildren and their children to live design a road map for them that leaves them financially secure but not totally dependent on the work that you've put in the decisions you make today can protect your wealth for generations to come making sure it grows rather than fading away number 13 you have to expand your intellectual wealth too now studies on longevity are showing us that as we expand life expectancy we also have to expand older people's access to education they want to focus on learning too it is a lifelong

Expedition which means it's something you should be focused on no matter how young or old you are don't stop learning after you finished high school or college the world is evolving faster than ever and if you are not learning you're falling behind so dive into courses that will help you to feel like you've achieved something at the end dedicate your time to something that has a cumulative effect reading articles and watching YouTube videos are great for learning but there isn't always a tailored learning plan there specific courses can give you that and you'll feel so

much richer and more fulfilled when you're finished and if you really want to accumulate valuable knowledge we've created the only app specifically designed with high level managers CEOs and entrepreneurs in mind where you can not only get access to content that will make a significant impact on your journey but also a place where you can measure your progress and receive learning plans tailored to where you currently are and to get you where you want to go in a fraction of the time the alux app isn't free or even cheap because we've poured over a million

dollars into making it a premier resource for you but for just the cost of one really nice meal at a restaurant you'll get access to a full Year's worth of content and trust us okay the app will pay for itself within the first month but to sweeten that deal scan the QR code on screen and you'll get 25% off the annual membership price we'll see you on the inside number 14 deepen emotional wealth by building stronger relationships now we've been raised to believe that wealth is about independence and what a mistake that was the richest

lives are built on connection relationships whether with your family friends or partners are the emotional Capital that sustains you through life's highs and lows people with strong connections live longer happier healthier lives so you have to invest your time and energy into the people that matter to you you need people around you to celebrate the wins and losses and support you during tough times and those people can only stick around when you make the effort just as much as they do investing time and energy into strengthen in your relationships pays dividends far beyond what money

ever could and number 15 you might not have it all yet but you still have to be grateful watching other people move through the world with more than you have when you work harder than they do is tough right but it's going to be a long hard road if that is your default mentality you will get to where you want eventually but it's not going to feel satisfying if you don't remind yourself now of how good you have it a rich life is a balance of working for more and appreciating where you are right now

simultaneously it can't all be focused on more more and more that's an empty unfulfilling state to be in think about three things that you are proud of right now hold them tightly in your thoughts that's what's going to help you keep pushing forward and that's all we've got time for today my friend thanks for spending some time with us today and thanks thank you for including us on your journey now we'd love to hear from you in the comments how do you protect your wealth to create a richer life what is something that you regret

now that you're working to change share your wealth of wisdom in the comments because it enriches the community we'll see you back here tomorrow ala until then take care my friend