Are You Inadvertently Repelling the Wealth You Want to Create?
PUTTING YOU IN
CONTROL
S ounds funny to say one has a
Are you worried about what other people think? Unfortunately, this commonly drives people to spend money they don’t have. Rather than focusing on building wealth and security, one becomes preoccupied with LOOKING important. So, to “keep up with the Joneses,” they buy “the expensive car,” send their kids to “the most prestigious college,” or they entertain at “the most expensive restaurants.”
relationship with money, doesn’t it? But we all do. And it starts with one’s mindset towards money.
Did you know you can track your tax refund?
Having a negative mindset about money will adversely impact your ability to attract financial success more than any other factor. If you think money will make you a selfish person, that money is evil, or people who have money are snobs, then you will inadvertently throw yourself off the wealth generation train. You can actually repel the wealth and money you want to attract by the things you say and do without even realizing it. You will be more successful in building your wealth if you recognize money as a tool to be used responsibly. If you are not financially where you want to be, then determine what your mindset and attitude are regarding money. Only then can you learn to break bad habits and make better decisions about your finances. A negative mindset toward money can limit your ability or willingness to take risks or plan for the future. Fear is a common limiting mindset when it comes to money. Losing or not having enough money can be devastating. However, making fear-based decisions about your money can lead to disaster, or at best, a small life. If your money mindset revolves around fear, then you tend to avoid risk and miss opportunities because you hesitate to take action. Do you have a limited vision? Having a good money mindset means being able to envision the big picture and plan for the future. You understand it will take time and you are willing to persevere until you achieve success. Unfortunately, many people are driven by what they desire now. They’re impatient and don’t like thinking through the details of the process that will help them reach their goals for the future. If you aren’t planning, you are probably not putting much thought in how your are spending your resources. As a result, you probably feel like you never have enough money and you are living paycheck to paycheck.
If you already filed your tax return and are waiting for a refund, then the IRS is trying to get back to electronic filers within 21 days, or for those who submitted their return by mail,
Maybe you are concerned about “appearing” successful? Many professionals and business owners feel they have to “look” successful in order to be successful. Again, they spend money on personnel or things they cannot afford. They mimic what they see others do, regardless of whether it fits their goals
or current cash flow situation. (That might explain why the Small Business Administration continues to find that 83% of small-business owners are barely surviving, living paycheck to paycheck. That just should not be the case!)
six weeks. You can check the status of your refund with the IRS2Go app on your mobile phone or online at IRS.gov/refunds.
This “image” mindset can be the most dangerous mindset if it totally disregards why money flows
Be ready to prove your identity by having the following information at hand: 1. Your Social Security number or
from one source to another. Money doesn’t care about an image. The money you want is currently in someone else’s possession. To attract that money, you need to create enough value that the other person is willing to exchange their money for your time, product, or service.
Individual Taxpayer Identification Number 2. Your filing status (single, married filing joint, head of household, married filing separately, or widowed) 3. The exact refund amount you’re owed (This will be listed on your tax return.) THE TAX FILING DEADLINE HAS BEEN EXTENDED TO JULY 15, 2020, but you don’t have to wait that long to file. If you are expecting a refund, then let us help you get that return in ASAP. If you file your return now and owe additional taxes, then that amount is not due until July 15. So get your return completed now and enjoy the dog days of summer! DLJ Wealth Services, LLC is a registered investment advisor. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and, unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial advisor and/ or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance. Advisory services are provided by DLJ Wealth Services, LLC. DLJ Wealth Services, LLC is a registered investment advisor. Tax advice is provided through DLJ Tax Services, LLC, a separate legal entity, but both companies are owned by Deb Matz.
So, how do you know what your real money mindset is? That can be tricky because we are often in denial and justify our actions based on what the majority is doing. But remember, only 20% of the population is financially well off, and that is a far cry from where a majority of people find themselves.
Our mindsets are reinforced by our habits, which can lead us to believe
that there is only one way to do something. If you are hitting a wall in business and you’re not sure why, then it can really help to get an outside perspective from a trusted colleague or even a coach. They can provide more insight into your situation and let you know if your money mindset is standing in your way. Consider us as one of your resources to help in this area. We are only a phone call or email away.
3
DLJTAXSERVICES.COM • DLJWEALTHSERVICES.COM
Made with FlippingBook Learn more on our blog