One of my greatest passions is helping others achieve success.

It doesn’t matter what the subject is because I believe the path to success is rooted in systematic approaches that apply to all areas of achievement—not luck, timing, or genetics.

One major category for most people is the accumulation of money, and that’s the focus of this letter. Specifically, what to do if you feel left behind.

I often see articles addressing what you should do if you’re 45, 50, or 60 with little or nothing saved.

This is a significant challenge for many.

The standard advice from financial advisors—pay off debt, hire a professional, save money, and invest in low-cost index funds—has merit.

But it rarely accounts for an individual’s unique situation, goals, or the root causes of their financial struggles. It’s like putting someone on a crash diet: even if they lose weight, how likely are they to maintain it?

Not very.

Today, I’ll distill everything into three key financial mindset shifts to start your journey toward financial freedom.

Without mastering these initial steps, the rest becomes much harder.

Use this as a checklist. If you’re already doing these things, great! But even then, there may be room for improvement.

The more you embrace these principles, the better off you’ll be.

1. Adopt the Right Attitude About Money

What’s your attitude toward money? How do you feel when you see cash, check your bank account, or encounter wealthy people?

Do you cringe?

Feel anxious?

Think money is the root of all evil?

Or perhaps you’re obsessed with acquiring it.

Everyone has deeply ingrained beliefs about money, often shaped by past experiences or family upbringing.

Let’s reset the table and adopt a healthier perspective.

When you search for “money” online, you’re likely bombarded with images of Lamborghinis, yachts, and private jets.

This can create the illusion that wealth is exclusive to a small club of greedy individuals. In reality, 99% of what you see online applies to only 1% of people.

For most of the world, money means something very different.

In the 1940s and 50s, psychologist Abraham Maslow described a hierarchy of needs, starting with essentials like food, shelter, and safety, and progressing to higher-level needs like self-esteem and self-actualization.

The same framework applies to money.

For 99% of people, money represents basic security: food on the table, a roof overhead, and the ability to care for loved ones.

Higher up the “money pyramid” are things like fun, freedom, and relaxation.

Only at the very tip—the smallest portion—are luxuries like yachts, planes, and exotic cars.

If you focus on accumulating wealth to meet essential needs, money stops being a negative force.

Instead, it becomes something admirable—a tool for safety, satisfaction, and, eventually, enjoyment.

That’s the attitude you must embrace every day. Treat building wealth as a meaningful, worthwhile goal, and celebrate the progress you make.

2. Believe It’s Never Too Late

You must truly believe that it’s never too late to accumulate wealth.

Let me illustrate with an analogy:

Imagine you’re 65, obese, and a smoker, and you’ve just had your first heart attack. The doctor warns that if you don’t quit smoking and lose weight, you’ll die soon.

Would you think it’s too late to change? Of course not. Your life depends on it, so you’d start immediately—and believe you could succeed.

The same applies to wealth.

The world is filled with people who achieved success later in life.

Sam Walton founded Walmart at 44.

Samuel L. Jackson landed his breakout role at 41.

Henry Ford created the Model T at 45.

Ray Kroc didn’t start McDonald’s until he was 52, and Colonel Harland Sanders launched KFC at 62.

Success is driven by rare events. If achievement were common, it wouldn’t be special or valuable.

This principle is evident in venture capital, where firms expect most of their investments to fail, but a few home runs to drive massive returns. For example, actor Ashton Kutcher has made significant wealth investing in startups like Twitter, Uber, and Airbnb.

While many of his investments didn’t succeed, the winners far outweighed the failures.

The math is simple. If you invest in 10 companies and 9 fail, but 1 becomes worth 100 times your initial investment, your total return is enormous.

Similarly, in life, you don’t have to succeed at everything. A few spectacular successes can define your financial outcome.

3. Know Your Financial Picture Inside and Out

A few years ago, I was $175,000 in credit card debt.

It felt like an abyss with no way out. Creditors were constantly calling, and I was overwhelmed. Then I learned that one of the most crucial steps to financial success is understanding your financial picture.

This concept is often referred to as net worth: the total of what you own minus what you owe. While we tend to think of net worth as something only wealthy people calculate, it’s essential for everyone.

When I started regularly tracking my net worth, everything changed.

Over time, I climbed out of debt and eventually became a multimillionaire. Simply creating a spreadsheet or using an online tool to calculate your net worth can be transformative.

It clarifies how your decisions impact your financial health.

The process might feel uncomfortable at first—like stepping on the scale after a vacation. But those initial feelings of discomfort fade as you begin identifying areas for improvement.

I now track my net worth daily using online tools and manually calculate it twice a year to stay on track.

Financial Freedom Doesn’t Happen Overnight

These three steps won’t make you financially free overnight, but they will lay the groundwork for your journey.

By adopting the right attitude about money, believing in your ability to succeed at any stage of life, and understanding your financial picture, you’ll set yourself up for the next phase of wealth-building.

Every day presents an opportunity to improve your financial mindset.

Start today, and you’ll be amazed at how far you can go.

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