The 5 Big Little Lies We Tell Ourselves

The 5 Big Little Lies We Tell Ourselves | Kitti Sisters

010:  The 5 Big Little Lies We Tell Ourselves

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It’s often said that our thoughts can become our reality. And not to get too woo woo on you with some inspirational wisdom but, we’re firm believers that our mindset is our skillset. We’re only as strong as we let ourselves believe. That’s why on today’s episode we will be addressing mental roadblocks people often face that are holding you back from achieving financial freedom. 

Basically, this is the episode where we’re both parts Brenee Brown and also Edna Mode from “The Incredibles” where we’re telling you to pull! yourself! together! but also yes, your feelings are valid, and life can be tough. 

If you’re looking to achieve your financial goals now and not 30-40 years from now, this is the podcast episode for you because it all starts in your head.

If you’ve been here long enough, you know that we love to break down the myths so many people believe about finances.

Lie #1: Save yourself to retirement.

The first one is the lie that you need to save your way into financial freedom. 

Not true. 😵😵

If we had a dollar for every time someone told us to “Save those pennies! Spend less than you’re making! Live below your means!” We’d make more money that way than if we actually put that advice into practice. More importantly, you work hard so saving the money that you tirelessly work for doesn’t sound very fun, or realistic. Saving your way to financial freedom is a trap. Unless you make eight to nine figures a year, you probably can’t save your way to financial freedom to begin with.

Think about all the things you pay for on the regular, your TV streaming services, movies, eating out, coffee runs, all of that adds up! 

But wait, if I cut out all unnecessary expenses and save it during the month, that adds up, right? Not necessarily, Dave Ramsey. 😆

Let’s do the math, Let’s say you cut all extra expenses and save about $1,000 per month. 

As we said, it’s not a very enjoyable way to live, but you could do it. Personally, our boba runs are too important to cut out and are needed for mental health reasons. 

Over a year that’s $12,000. Not bad. If you live for 100 years, you’d be a millionaire, right? One of many problems with this thinking is you probably don’t have a hundred years left to live, and a million dollars just doesn’t go as far as it did back in the day, much less one hundred years from now. And what happens when those unexpected expenses pop up? Need a new car, kid’s college tuition, moving costs, medical bills… Poof. Savings gone, when you could have taken that same money and gone to the movies more often. 

And like, actually create memories with your family instead of penny-pinching your way to retirement. 

Speaking of retirement, let’s think a little more realistically. ▶️ Let’s say in 20 years you want to retire using that same $1,000 you’ve scrounged up month to month, will $240,000 be enough to live off of for the next 20-30 years? Not even close. Even if you’re savings doubled or tripled it wouldn’t be enough. The truth is, just saving will not get you to financial freedom, but passive income absolutely will. 

Lie #2: Do great in school, make great money.

The other lie people often believe is: If you do well in school, you will succeed in life. Sure, getting good grades is important but does that equate to being financially successful in life? Not necessarily. Getting good grades and doing well in school just means you’re good at knowing the school system, and hey, we’re not here to shame anyone who worked their butt off for all those years. 

Shout out to all of you who also came from immigrant households where getting good grades was the marker between if you were allowed to have a life that weekend or be succumbed to staying inside working on those flashcards. 

One of our favorite examples of a success story is Richard Branson. Richard struggled with dyslexia and dropped out of high school at the age of sixteen. Shortly after, he started his own business, which led him to find Virgin Records, and now Virgin Airlines. Richard’s net worth is now nearly four and a half-billion dollars. Not bad for somebody who dropped out at a young age. 

And of course, there are plenty of examples of similar types of success. Take the creator of the Meta-verse, for example— Mark Zuckerberg and his bestie, Bill Gates. Did they learn how to become financially successful in school? Nope. And we’re guessing, you didn’t either. The truth is, even for us “normal” people, the education system has failed us. Most people are not even financially literate, much less have the means or knowledge to retire comfortably. If you can’t learn what you need to become financially free in school, you are left to figure it out all on your own or suffer the consequences when you try to retire. ✨

Tell us, when was the last time you used the biology fact, mitochondria are the powerhouse of the cell in everyday conversation? Much less move you towards financial freedom? Fortunately, we’re here to point you in the right direction, after all, it’s never too late.

As long as your amount of passive income exceeds your expenses, you are financially free. 😌😌

So there’s no need to say no to a weekend getaway with your girls or skip out on Happy Hour with co-workers, you can live your life however you want and retire as soon as you want as long as you have enough passive income. 

Lie #3: More hours, more success?

The third most commonly believed lie that’s holding you back from financial freedom is that the more hours you work the more success you’ll have. Trust us, we wish it was that easy.

We grew up witnessing our parents working long hours and believed the only way to achieve financial freedom was to do the same and that was just the way of life. And we get why it’s easy to feel that way, the more productive you are the more you feel like you “earned” your money. Since when does your productivity determine your worth? Sounds like a conversation for your therapist. 

There’s nothing wrong with the feeling of getting things done and feeling productive, but the more hours you work does not equate to the success you will have. Trading time for money is never a good way to achieve financial freedom. Plus, you know the saying all work and no play makes Jill a drag to invite to parties. Or something like that. 

By the time, you have worked enough hours to create any kind of wealth, you are so run down that you can no longer enjoy the time you have left. What’s the point of that vacation if you’re too tired to actually be on vacation?! 

Working smarter and leveraging a strong team that can guide you to financial freedom is the simplest and quickest way to achieve that financial success. The truth is without a good system in place to utilize your time and money wisely, you are just stuck in a time-sucking trap in pursuit of wealth. You need people to cheer you on and remind you of the bigger picture. 

Hi. It’s us. And the people you invest with‼️

That’s why we believe so strongly in creating passive wealth through apartment syndication. It utilizes the hard work you have already done in your Genius Zone and makes time work for you, not the other way around for once. Passive income through apartment syndication also allows you to enjoy your time, not squander it with piles of work adding up daily. 

As the kids say, live your best life now. We don’t know about you but taking time for us and making memories in our younger years, and not when we’re older and nearing retirement age, sounds so much more…fun! 😋😋

Lie #4: Debt is a no-no.

The fourth lie people believe is that debt is bad. Debt is actually (wait for it) good. If you spend five seconds on google looking up financial advice, all the blogs say the same thing. Minimize your debt and work towards paying off those credit cards, mortgages, and student loans. 

But, you know us a little better by now and we’re here to spill all the tea that these same finance blogs don’t want you to know: Debt used wisely is a powerful tool and it’s how the wealthy become wealthier. Somewhere in space, Jeff Bezos is disturbed.

If this goes against everything you’ve ever known, good. Because the truth is, leveraging the right kind of debt can help you multiply your passive income much more quickly using a little something called leverage. What is leverage? Leverage is when you are using your debt to make more money than you are spending on interest.

You’ve probably used your own money as leverage and didn’t even realize it. The typical 20% down payment on your mortgage allows you to get 100% of the house you live in. But there is a much better way to utilize debt than by sinking your money into your own house. Using debt as leverage to increase your return on investment allows you to exponentially multiply your returns. Just like when you bought your home, it’s what multi-million or billion-dollar companies use to acquire other businesses they would not otherwise have the cash to acquire.

See? Not that complicated and pretty straightforward. Using debt as leverage does come with some risk involved, but are you livin’ if you aren’t riskin’? 😗😗 But when you have a proven system in place to multiply your investment (…hello! Like apartment syndication!) it’s a very effective way to grow your wealth beyond what you can save or make on your own. So now you have a better understanding as to why making use of good debt by investing in multi-family apartments gives you a great return of investment (AKA ROI).

Lie #5: You’re fine with your 401K.

And finally, the fifth lie you need to stop believing: Putting your money in a pension plan (AKA 401K) is a good idea. 

Oof, did we ruffle some feathers with this one? I mean technically you can retire if you have a good 401K. But what if in the year you want to retire it’s a down market, or worse, it crashes? I don’t know if you’ve been around the last 20 years but the luck we’ve been experiencing when it comes to the market really hasn’t been at its best. 

We’re shuddering in millennial. 

The sad reality is most people aged 65 in the US are not prepared for retirement. 😓😓 The average retirement savings of those aged 65 is $195,000. If you hope to live another twenty to thirty years after you retire, $195,000 is not going to get you very far. Realistically, you’re going to need 10x that number to get you to a place where you can retire comfortably and actually live out your retirement that’s sustainable, worry-free, and full of great memories with loved ones. 

Whatever you’re currently saving in your retirement plan, we can almost guarantee you is not enough. In fact, it’s not enough for most Americans. The good news is, there are better options available to you if you do have some savings. You know what we’re about to say next…

Apartment syndication and creating passive income assets really is the best way to secure financial freedom. Remember, it doesn’t matter how long you need to live off your savings as long as your monthly cash flow is greater than your living expenses. 

We don’t need to remind you how important it is for you to actually live this life and not just work (or worry!) through it. Join the Kitti Freedom Club for more information and how to get started on all things passive income!

 


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Fortified with years of experience, fierce passive investors (we ALWAYS in our own deals), and selected high qualities investment opportunities to help build your long term wealth no matter what stage in life you're on. We will show you the ropes, help you build out a powerful, personalizes strategy, and give you masterful, financial freedom focused on living your lifestyle dreams.

We're Palmy ➕ Nancy Kitti 〰️ The Kitti Sisters

A sister duo team obsessed with all things financial freedom, passive income, and apartment investing + apartment syndication, who turned a $2,000 bank account into a nine-figure empire.  Now, we're sharing with you the behind-the-scenes secrets of our wealth building strategy.

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