You’ve come to the right place to find the best wealth building property investments secrets in the world. The best ways to grow money and find your avenue to building wealth are not necessarily one and the same. That is because wealth isn’t money and money isn’t true wealth.
We can have all the money in the world and be impoverished in mind, body, and spirit. On the other hand, we can be penniless and wealthy in all other areas of our life.
I am convinced that the best wealth building property investment we can make is investment in the inner-self. There is no more valuable wealth building property investment than investing in the development of me, myself, and I. Until we put effort into knowing, understanding, accepting, and appreciating ourselves we might find the best ways to grow money and even become monetarily the richest person on earth but still feel impoverished.
5 Areas of Flourishing to Build Wealth
For most of the history of the scientific study of psychology, the field has been focused on what is wrong with us as humans. This focus has benefited us in finding interventions that have helped those suffering from abnormalities to live better and more functional lives. What it hasn’t done is to help us better understand what it is that not only helps us overcome abnormalities but what is that helps us to thrive and flourish.
More recently, the field of what has become known as positive psychology has begun to seriously address this question. Research centers around the world are now studying this question and are finding evidence to support the assertion that we can use our minds to change our brains. As our brains change our bodies respond to the changes and behaviors change. As our behaviors change our minds change. The evidence is growing that mind and body are not separate but that our biology, environment, and psychology are all interconnected. The best wealth-building property investment we can ever make is the investment in our bio-psycho-social property. Property that all of us have within.
If we are to develop a life that flourishes we first have to define what that would look like. The research has discovered that there are five necessary components: positive emotions, engagement, relationships, meaning, and accomplishments. All of us already have each of these components to some degree or the other. Beyond that, all of us have the capacity for building wealth internally to go beyond the minimum in all five areas and to flourish abundantly. When I say flourish abundantly in all areas of life, these are the areas of life to which I am referring. Attending these five areas of life are the best ways to grow money and will put you on the path of a lifetime of building wealth.
Intrapersonal Strengths to Develop in the 5 Areas of Flourishing
For us to further enhance all five areas we need to develop the skills that will take us there. Developing these inner skills is like developing any skill. It takes attention, intention, and the desire to develop the skill. Developing these skills is your best wealth-building property investment.
As I chat with each of my successful guests on Creek Side Chats, I see in each of the aspects of these various skills. As we chat they just naturally reveal the skills and skillset they relied on most heavily for building their wealth. For the most part, they were probably not conscious of the fact that the best way for them to grow money was the utilization of their intrapersonal skills that had become innate. We can see through, as we look retrospectively, that they were masters at applying these inner skills.
According to the research coming out of the Positive Psychology Center at the University of Pennsylvania, there are 24 core signature strengths. We all possess each to various degrees but all of us can further develop each strength for a more fulfilled life. In this short article, we will look only at two of these strengths through the perspective of the life experiences of two of our Creek Side Chats guests.
As with all of us, Nitzan has many strengths but a brief conversation with Nitzan makes it apparent that he is a wise man.
Nitzan was a 24 year old successful and rising financial analyst at Lehman Brothers when his father passed away. Nitzan had a couple of old brothers both of whom were much older than him. By the age of 8, Nitzan was an uncle. His father was a successful and busy businessman who did not have a lot of time for Nitzan.
His father had already raised two sons by the time Nitzan was born and seemed to have the attitude that he had finished with Parenting. As a result, he and Nitzan never experienced a warm and close relationship. Nevertheless, his father’s passing had a profound effect on Nitzan’s whole perspective on life.
Nitzan began to question his whole life and his purpose for being. He had watched his father seemingly place money as the top or even the only value in life. At his father’s death, Nitzan began to ask what is the point if you accumulate money but leave nothing else behind.
Soon after his father’s death Nitzan left his lucrative Wall Street job and moved to Israel. In Israel he still had no sense of purpose and spent his time aimlessly drifting, spending his days on the beach and his nights partying. Fortuitously, one of his friends had a two months vacation from his job and invited Nitzan to travel with him to India.
After two months of traveling throughout India Nitzan’s friend had to return to work. Nitzan decided to stay on in India and became attached to an ashram where he studied the teachings of the ashram’s spiritual leader. These teachings and the practices he engaged in had a profound impact on Nitzan.
During this time Nitzan became a Reiki practitioner and began traveling the world with little on his back except for a backpack. Through several years of travel, he traversed the globe supporting himself through Reiki and jewelry sales. He engaged with people and ideas from around the world.
After several years of traveling, he settled down in the USA and entered real estate investing through fix-and-flip. He soon transitioned to real estate syndication where he remains today.
I share Nitzan’s abbreviated story because it reveals an extensive process of seeking, studying, and practicing all of which are necessary to develop the skill of wisdom. We do not have to travel to India and traverse the world to develop wisdom but we do have to seek, study, and practice. Wisdom is a developed strength, not a gift.
According to the research on core strengths, wisdom is a product of curiosity, love of learning, judgment, ingenuity, social intelligence, and perspective. Reflecting on Nitzan’s life we can see how his life journey contributed to the development of all these qualities. We can see how the application of all of these qualities contributes to his success as a real estate investor.
According to Marin Bolt and Dana Dunn in their book, Pursuing Human Strengths: A positive psychology guide, we can learn to acquire the strength of wisdom. They spell out eight steps to the process:
Wisdom is an essential ingredient for building wealth. The best wealth building investment one can make is to invest heavily in the process of developing wisdom. If you want to grow your money, first invest in growing your wisdom.
The strength of empathy as one of the best wealth-building investments may surprise you if you have been of the impression that to grow money one must be greedy. As you will see from Jennifer’s story, empathy is a primary strength in her arsenal of building wealth. Jennifer exudes empathy. I could feel it in our first and very brief pre-interview conference call.
Maya Angelou once said, “I think we all have empathy. We may not have enough courage to display it.” I think Angelou was one of the wisest women of the late 20th and early 21st centuries. She was not only wise but she also had mountains and mountains of courage and with that came the ability to display deep levels of empathy.
The researcher Daniel Batson believes that both self-serving and selfless considerations motivate helping others. Seeing others suffer causes us anguish and distress. We naturally want to reduce the anguish and distress and we may do so by escaping the situation. If we engage with the one who is suffering rather than escaping the situation, then selflessness is provoked and that is empathy.
Empathy is seeing the world from another’s perspective. It is the intrapersonal strength that not only helps others but it is the strength that broadens our perspective and allows us to see everyday situations from a broadened view. It is the strength that allows us to negotiate with a win-win-win mindset. I win. You win. The transaction wins.
The inner strength of empathy may well be the very best wealth-building investment you can ever make.
In the hour that Jenn and I spent together in the course of two separate interviews, she never mentioned the word empathy. Nevertheless, every instance of the life story she shared exemplified some aspect of empathy. From her earliest childhood efforts contemplating who she was going to be, she knew she wanted to be someone who helped others to succeed.
Jen began her career as a product management engineer and was successfully moving up the corporate ladder with Nestle. At one point she was offered a dream promotion but in the end, turned down the offer and left Nestle to build her own real estate investment organization. She couldn’t take the position because she knew that taking it would undermine her personal values.
Jen knew little about real estate investing but she did know that she had skills that she could use to not only learn the business but to also be successful. What she knew was that she knew how to actively listen to other people and to understand their situation. Understanding their situations, she knew how to help them succeed.
In the first year after leaving her corporate position, Jen raised $70 million in equity capital to fund numerous real estate acquisitions. She did it by helping other people succeed. In her first year, her intention was to establish herself in the real estate industry. Helping others succeed was not the intention. It was just a byproduct of the skill of empathy that she had been developing all of her life.
As Jen’s career has grown she has been recognized by numerous regional and national organizations as being an inspiration. She helped to form the Women’s Real Estate Network (WREN). WREN is an organization that helps women succeed in the entrepreneurial world, particularly in fields customarily dominated by men.
Jen’s core strength of empathy is clearly her best wealth-building property investment. In less than a decade she became a financially wealthy woman building wealth on her core strength of empathy. From her example, we learn that the best way to grow money is to put your core strengths to work.
Another lesson to take from Jen as she launched into a field where she had very little knowledge and expertise is that she focused her efforts on her strengths. She did not dwell on what she didn’t have. She spent the first year learning and learning a lot but she always focused her efforts on the strengths she already had. We can develop in all the 24 character strengths but we will always do our best when focusing on the strengths that come to us more naturally.
This may not have been the direction that you were looking for when you came for the answer to the question of the best wealth-building property investments. I hope you see now, the importance of developing the core strengths if you are really interested in building wealth. These core intrapersonal strengths are not the core strengths that our mainstream culture tends to focus on. To not develop our inner world will leave out the best wealth-building property investment we can possess. Not developing our core strengths will leave us constantly looking futilely for ways to grow money that often turn out costing us money rather than saving and building wealth.
Building wealth by first investing in our own growth and development is the least risky investment we will ever make. Not only is investing in ourselves a good way to grow money but investing in ourselves is certain to bring wealth in all areas of life. The best wealth building investments bring returns for us to flourish abundantly in all areas of life.
Confused or Uncertain?
With so many investment options, confusion as to where to invest leads to inaction. Schedule a FREE – NO OBLICATION – NO STRINGS ATTACHED call. Or email me with your questions and thoughts at allen@SteedTalker.com. I’ll help you sort it all out, and you’ll soon be on your way to prosperous investing to live more abundantly in all areas of life.
About the Author - Dr. Allen Lomax
With careers in academia, podcasting, and real estate investing, Dr. Allen Lomax inspires us to break open our minds’ secrets to discover individual and universal well-being. Through passive real estate investments, he helps enlightened investors create time freedom to live abundantly in all life’s areas.