{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":300,"width":600,"title":"The Biggest Wealth Mistakes Even Smart People Make - with Greg Hankinson","description":" What if I told you that some of the worst financial decisions I've ever seen were made by some of the smartest people I know?   Doctors. Lawyers. Business owners. Executives. People who are genuinely brilliant in their field, yet they're making wealth mistakes that are quietly costing them hundreds of thousands of dollars, sometimes more.   And here's what's really interesting: their intelligence isn't protecting them. In some cases, it's actually making things worse.   Because smart people are used to being right. They research more, they debate more, they over-think more, and sometimes that confidence becomes a substitute for strategy.   So today, Greg Hankinson and I are going to walk you through the 12 biggest wealth mistakes we see even very smart people make. And I'll tell you, this isn't just theory. These are real patterns we've watched play out across decades of working with Australian investors at every income level.   We unpack how high incomes can hide poor financial habits and create a false sense of security.   We look at why more data does not automatically produce better property decisions.   We discuss how tax, emotion, and impatience can quietly derail long-term wealth building.   We finish by showing why strategy, perspective, and the right team matter far more than raw intelligence.   Takeaways    \u2022 Income alone does not create wealth when lifestyle spending rises just as quickly. \u2022 Smart professionals often overthink decisions and confuse research with strategy. \u2022 Too much data can cause paralysis, false confidence, and missed opportunities. \u2022 Tax benefits should support an investment, not justify a poor-quality asset. \u2022 Capital growth, not rent, usually drives long-term property wealth in Australia. \u2022 Owner-occupier demand helps protect values and improves resale prospects over time. \u2022 Good properties in the same suburb can perform very differently street by street. \u2022 A proper wealth plan starts with the end goal and works backwards. \u2022 Emotional reactions during downturns can trigger bad timing and unnecessary selling. \u2022 Patience allows compounding, rent growth, and equity growth to do the heavy lifting.   Links and Resources:   Answer this week\u2019s trivia question here - https:\/\/www.PropertyTrivia.com.au\/ \u00b7        Win a hard copy of How to grow a multimillion-dollar property portfolio in your spare time. \u00b7        Everyone wins a copy of a fully updated property report.   Michael Yardney   Get the team at Metropole to help build your personal Strategic Property Plan. Click here and have a chat with us       Greg Hankinson \u2013 National Director Metropolehttp:\/\/metropole.com.au\/expert\/expert-greg-hankinson\/   Get a bundle of free reports and eBooks: www.PodcastBonus.com.au    Also, please subscribe to my other podcast Demographics Decoded with Simon Kuestenmacher \u2013 just look for Demographics Decoded wherever you are listening to this podcast and subscribe so each week we can unveil the trends shaping your future.   About The Michael Yardney Podcast | Property Investment And Wealth Creation Australia   The Michael Yardney Podcast is one of Australia\u2019s leading property investment podcasts, helping investors understand the Australian property market and build long-term wealth through strategic property investing.   Each week we explore: \u2022 Australian property market updates\u2022 Property investment strategies in Australia\u2022 Melbourne property market trends\u2022 Sydney property market forecasts\u2022 Brisbane property investment opportunities\u2022 Capital growth property strategies\u2022 Property cycles in Australia\u2022 Negative gearing and tax strategy\u2022 Interest rates and their impact on property\u2022 Buyer\u2019s agent insights and investment planning   If you\u2019re serious about building a high-performance property portfolio and creating financial freedom through real estate, this podcast will give you the clarity and strategy you need.   Learn more at:https:\/\/propertyupdate.com.auhttps:\/\/metropole.com.au ","author_name":"Property Investment & Wealth Creation Australia | The Michael Yardney Podcast","author_url":"https:\/\/michaelyardneypodcast.com.au","html":"