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S4 E01 The Wealth Mindset · The Swan Effect - Creating and Sustaining Your Financial Wellbeing

• 0:00
  Arthi Rabikrisson: Your legacy isn't just about numbers, it's about the confidence that comes with knowing your wealth is expertly managed. At Old Mutual Wealth, we offer solutions that go beyond investment management.
• 0:12
  Arthi Rabikrisson: We're your trusted partner in achieving financial success.
• 0:17
  Arthi Rabikrisson: Together with your financial planner, we uncover what matters most to you, crafting a personalized plan tailored to your unique goals, backed by a team dedicated to your wealth journey. We provide innovative strategies in depth research and award winning investment expertise. Partner with us to take your wealth further with advice led personalized Wealth Management offering clients and financial planners a full suite of industry leading investment solutions. Visit www.oldmutual.co.za/wealth to learn more.
• 1:03
  Arthi Rabikrisson: Hi there. I'm Arthi Rabikkrisson,
• 1:06
  Malika Petersen: Hello. I'm Malika Peterson.
• 1:08
  Arthi Rabikrisson: Welcome to
• 1:10
  Malika Petersen: the swan effect podcast.
• 1:12
  Arthi Rabikrisson: We're your go to podcast to simplify the complexities of money management, investing and wealth management
• 1:20
  Malika Petersen: so that you can gain confidence in your relationship with money and become financially literate, independent and free.
• 1:28
  Arthi Rabikrisson: That first step towards freedom is knowledge, and you can start with gaining that right now by listening to this upcoming episode.
• 1:40
  Arthi Rabikrisson: Welcome back to the swan effect podcast, everyone. It's season four. It's 2025. It's a hot summer here in South Africa, and we're also turning up the heat with this season of the podcast.
• 1:54
  Arthi Rabikrisson: Welcome back, Malika,
• 1:55
  Malika Petersen: Hi Arthi, and a very, very happy 2020 Thrive.
• 2:01
  Malika Petersen: Listeners, we are so excited to have you here with us today, whether you're tuning in during your morning coffee, your commute, or just taking a moment to focus on your financial future. Welcome to our season four and the year that we thrive together.
• 2:17
  Arthi Rabikrisson: I love that love that thrive together. Now, if you have been following us since we began this podcast, you will know that we are all about breaking down seemingly complex money management topics, so it's easily understandable. More than that, we always want to share practical tips, ideas, simple steps, anything that can help you move forward and build your financial independence.
• 2:42
  Malika Petersen: Yeah. Last season, specifically, we had an advent calendar of investment themes, and basically each month, we open up new boxes of categories on the advent calendar, offering you insights into different products and strategies ranging from cryptocurrency to property to managing spending.
• 3:02
  Arthi Rabikrisson: Ah, yes. And then this season, we really, really, really want to help you take those ideas and become your own financial superhero. We are big superhero fans, hey Malika?
• 3:15
  Malika Petersen: Absolutely,
• 3:16
  Arthi Rabikrisson: Each episode that's going to be forthcoming, we are going to bring in some wealth, building ideas based on some of those well known and rich fictional superheroes.
• 3:28
  Malika Petersen: I mean, who doesn't want to have the kind of financial freedom like Tony Stark or Iron Man Bruce Bane Batman, create all the toys and tech gadgets which look so cool.
• 3:41
  Arthi Rabikrisson: That is so true. Okay, okay, but Let's also not forget Malika that they are both very, very smart men, meaning they are highly literate. They can connect the dots better than most and well, they are fueled by different drivers, aren't they?
• 3:56
  Malika Petersen: I have to agree. Arthi, if you scratch beyond the surface, what you're ultimately saying is that the intelligence that keeps them creative and innovative, but also they have a very particular mindset that's driving them towards their goals, right?
• 4:12
  Arthi Rabikrisson: Exactly, exactly, Malika, I think that's also why you know you and I thought it would be sort of the best thing to delve into that foundation piece where you can really get to, you know, your goals, everybody. And that is actually around the wealth mindset. We really wanted to be like, you know, like a Professor Charles Xavier. You know him from the X Men. I'm sure you all remember him. He's able to control everyone's mind, but he's got this really strong discipline and his focused right when he's doing that. So here's the thing, everyone it's not just about making money. It's also about how you think about money, think about success and ultimately, abundance in every area of your life. And the cool thing is, no matter where you're starting from, your mindset can completely shift your approach to wealth also. I mean, it's a bit of a misnomer that I can only really do this if I'm already successful. No, no, no, no, it's something we can all develop over time. So in this episode, everyone, we'll be breaking down what a wealth mindset really is, how to build it, why it's so crucial for long term success. And as always, we will share some personal stories, practical tips and ideas that you can take away and start applying in your own life.
• 5:33
  Arthi Rabikrisson: So let's kick off by first unpacking, what is a wealth mindset?
• 5:37
  Malika Petersen: I think that's a really great question. Arthi,
• 5:37
  Arthi Rabikrisson: As you're saying that, Malika, you know, a wealth mindset is essentially how you approach money and abundance. It's about believing that wealth isn't just for a select few. It's available to anyone who's willing to think and act in a certain way. People with a wealth mindset can identify and see opportunities.
• 5:57
  Arthi Rabikrisson: They believe that they can grow their wealth. They're not limited by fear or scarcity thinking. So in contrast, the scarcity mindset, where you believe that there's never enough is something that a lot of us fall into, and it can show up in subtle ways, like worrying about there won't be enough money for to cover bills or hesitating when you want to invest in yourself. And a scarcity mindset really makes you focus on what you don't have, while a wealth mindset focuses on abundance and what you can create. It's the difference between thinking I'll never have enough versus I'm figuring out how to grow with what I've got.
• 6:45
  Arthi Rabikrisson: what's coming to my mind is this idea of these limits. So a scarcity mindset might limit somebody from taking some of those practical wealth creation steps that we suggested in the last season because of this fear of lack,.
• 7:01
  Malika Petersen: And it's a very powerful show when someone moves from a scarcity mindset to one of abundance. And the reason it's so powerful is because it impacts not only on the way we feel, but also the actions that we take. So the big question is, how do you make that change? How do we start build a wealth mindset?
• 7:22
  Arthi Rabikrisson: Yeah. I mean, that is a key question. And I think first, it's all about the way you think. So if you're always focused on what you lack, that's going to be a reality everyone. The key to shifting is actually understanding, why do you focus on what is lacking?
• 7:37
  Arthi Rabikrisson: Now, that is actually something I work with in the coaching context all the time, Malika and everyone you know, this is a long it's a deep process to unpack, but even just from that very first kind of you're scratching the surface, or that first kind of crack of awareness, I guarantee you actually start to see a little bit of light. And that's something that you then grab on, that little thread you grab on and you work on that further from there.
• 8:03
  Arthi Rabikrisson: yeah, what you're saying is really kind of sitting deeply with me. Arthi, because if I look just at my own narrative around money, right, yeah, takes me to my childhood, how I saw my family work with money, but then even deeper, how we spoke about things, right, the rituals that were formed. So some were really healthy and positive, which I carry with me today, and I'm very grateful for those things.
• 8:25
  Arthi Rabikrisson: But on reflection, there were others that actually sometimes hold me back, even today. You know, that's it's not easy to digest. I think it's a constant work in progress to break that mental concerns.
• 8:39
  Arthi Rabikrisson: Thanks for sharing that Malika and I can definitely guarantee,
• 8:51
  Malika Petersen: You know, now that's that's an important though, that we all have this. I think it's almost like a universal thing. But of course, we all have our different circumstances, everyone. But here's the thing you know, when you work with coaches and mentors and therapists, when you do assessments or you read books, all of these things will question, because, I mean, I would wager that there's maybe allow you to think through this and just reflect. It'll help you to unpack and give you this really, really good sense of awareness about, okay, I recognize something here, but now, do I want to change this?
• 10:45
  Malika Petersen: And how do I change this? And not always a lot of evidence.
• 10:57
  Arthi Rabikrisson: You would be correct. You would absolutely be correct. We often imagine and play out scenarios of what could then, of course, that brings me to, I think, the next step, happen, instead of realizing what actually did happen at that time and then also taking into account the circumstances. So, as I said earlier, no two peoples circumstances are the same. So something to actually think about everybody. That which is, you know, we do start to change as a result of this brings me to then the third question that you want to ask yourself, which is, what evidence do I have of success?
• 11:25
  Malika Petersen: Yes, and on this one, I would wager we may not always have none of this either.
• 11:29
  Malika Petersen: awareness. And one of the biggest changes potentially is
• 11:30
  Arthi Rabikrisson: Well, actually, we choose not to have recognized the success. That's the important distinction. It might have been there. We took it for granted because we were focusing on the difficulties, on the limiting stuff. So we are we start to begin to see those possibilities, instead of seeing the company we keep. Okay?
• 11:44
  Arthi Rabikrisson: Meaning you need to surround yourself with success stories and be so exposed to these as well. Because guess what? You then start to get used to the idea of achieving and particularly around wealth it the limits, which ties into what we were saying earlier. Malika, means achievement of wealth and what's going to be possible in that space?
• 12:02
  Malika Petersen: Yeah, the way you think is absolutely everything and and I think another key part of building that wealth mindset is focusing on long term thinking rather I always tell people, in order to start looking for ways to than short term gratification.
• 12:15
  Malika Petersen: Now we've spoken about this in previous episodes about this concept of delayed gratification, right? And a lot of people get caught up in this grow, you need to do it in baby steps or incremental change.
• 12:27
  Malika Petersen: instant gratification trap where they spend on things that feel good in the moment, sometimes even using debt to do so, right?
• 12:33
  Malika Petersen: Yes, but they don't contribute to their long term goals. Now, people who have a wealth mindset think a lot about delay I've talked about it in previous seasons as well. So you take gratification. They understand that the small sacrifice at the beginning now can lead to much bigger reward at a later stage.
• 12:52
  Arthi Rabikrisson: I am so happy that we are actually reiterating this Malika at the start of the season. And you know, perhaps something small and you go with it. It's a low risk strategy let me amplify this a little bit for everybody, but also we're digging a bit deeper into this piece. I'm going to say this, in order to consistently make this choice to delay gratification, we need to increase our levels of emotional intelligence.
• 13:11
  Arthi Rabikrisson: everyone, because we want you to build confidence in making
• 13:15
  Malika Petersen: Sjoe, that is a quite a connection you making there Arthi.
• 13:18
  Arthi Rabikrisson: right?
• 13:19
  Malika Petersen: I thought about that in as much detail. I mean, will you help just to unpack that a little bit more for us?
• 13:25
  Malika Petersen: progress. So one of the things I think you can do is actually
• 13:25
  Arthi Rabikrisson: Yeah, certainly. Okay. So simply put, everybody, emotional intelligence is your ability to understand how you're feeling, but also how we perceive others are feeling. So as you can see, there's both this internal element as well as an external element, and then on that start acknowledging and challenging your limiting internal element, we need to understand what we are feeling in that moment so that we can unpack it. And then we have to identify how to regulate that for the best possible outcomes beliefs, so you get the awareness. You recognize there's for ourselves and of course, the situation on hand.
• 13:55
  Malika Petersen: I see it now because this ability to manage
• 13:55
  Arthi Rabikrisson: Mm, definitely. Malika, so everyone and understand your emotions, means that you can remain calm, recognizing when your emotions are getting in the way of sound right, and make really calculated decisions. So let me financial decision making is crucial. If you're feeling something there, and then you start to challenge, and it's a use an example. We're not freaking out when the stock market takes a dive or in the gratification example, we're not anxious about your finances, you might be tempted to make some swayed or tempted by the quick dopamine of a hot purchase, but simple three question approach, Malika, okay, I'm going to share we'd rather take a moment to understand exactly why we need this purchase, right? Why, and whether it helps us achieve short, medium or long term goals.
• 14:35
  Arthi Rabikrisson: it with everybody. I say it's simple because the question really hasty decisions like you know, as you said, if the stock seems simple. I'll say that.
• 14:48
  Arthi Rabikrisson: Okay, a bit of a caveat, but you market is taking a dive, suddenly you want to pull your money out of your investments.
• 14:52
  Arthi Rabikrisson: So emotional intelligence can help you cultivate a really strong wealth mindset. It. It's really about building that resilience and trusting the know the reality is, is, when you unpack it, it can go quite process, everyone. A wealth mindset means that you're okay with the setbacks, because, you know, it's part of the journey.
• 15:11
  Malika Petersen: I really love that we've made this connection far our listeners Arthi and now that we have said it, it seems like completely obvious, like, why didnt I think of this deep. Okay, so it will take time. Let's work with an before! But I know that our listeners love it when we share those practical ways of doing things. So what some of the things, like daily habits that live listeners can start example. So let's say, if you're thinking to yourself, I'll never incorporating into their lives, just to foster this wealth mindset?
• 15:36
  Arthi Rabikrisson: Yes, they are definitely daily things. Okay, let's start with an easy one, daily gratitude. When you're grateful for what you have, it shifts your perspective from be able to save enough to retire. Okay, so that's what's scarcity to abundance, even if you're not yet where you want to be financially. When you're practicing gratitude, that shifts your state of being away from stress towards positivity.
• 15:59
  Arthi Rabikrisson: in your mind. One of the questions you want to ask So like today, I was just so grateful for the universe manifesting this beautiful conversation from the previous day where I was explaining to you, Malika, it felt like serendipitous that this person and I were having this yourself is, well, why do I believe that? Okay, we know that conversation. Another thing I'm grateful for is having spent some time recently with my girlfriends, because that was just so energizing. It was such a great connect. We learned so much about each other in that space. Another thing I'm those beliefs are typically based, as you said, Malika, on grateful for is just this week, I've got a chance to watch him at his extracurricular activities. They had an option for parents to join, and I got to see so much more. I got to see how much joy what he's doing brings to him. And even now, as our old stories that we tell ourselves, on our childhood I'm saying this, everyone, I'm feeling quite warm and fuzzy, it's actually calming me down.
• 16:44
  Arthi Rabikrisson: There's so much of like emotion that comes into it when I'm grateful for these things.
• 16:49
  Malika Petersen: Even I'm feeling warm and fuzzy, those sound really beautiful, and it's reminded me of my own moment experiences, or even stories we're hearing from our friends, that I'm grateful for today. I really like the idea of having some way to capture our gratitude,
• 17:05
  Arthi Rabikrisson: uh huh,
• 17:05
  Malika Petersen: so that we can take a look back at them over time. So I like to journal things, and for me, that works rather than what is the reality of what's possible. After that, to write things down, but I know that others like to capture these things through some creative means, like art or photography or even talking about it on a race, on a voice you want to ask yourself, well, what evidence do I have to make memo. And I think for me, what's key is that as long as you, number one, feel the gratitude when you recording it in whichever way, but also that you can look back on it. And I'm sure that we can all find five really cool things every day this belief stick?
• 17:40
  Malika Petersen: that we can be grateful for, even if it's on the worst of days,
• 17:43
  Arthi Rabikrisson: yeah, even on the worst of days. In fact, maybe it's even more important on those days hey Malika, because of the feelings, the emotions, the shifting of the state, right? When you do that, I think all of these ways that you've suggested will actually just serve as a wonderful reminder of how abundant we are everyone. And maybe another practical idea then on those habits is the habit of continuously learning. So one of the things you'll realize is that people with a wealth mindset are always, always learning, you know, and whether that's from reading books, following what you know wealthy individuals or street smart or savvy individuals are doing on social media, listening to podcasts, of course, like ours, or even like taking courses. I would also add, you know, talking to different people as well. You know, all of this just brings a diversity of perspectives that you know everyone will actually start to excite you about what's possible, while also just being, you know, a little bit risk cognizant, because you know your circumstances after all, and you'll base some decisions based on that in your own tolerance of what you want to try.
• 18:49
  Malika Petersen: Ja, so, like, you know, Arthi, I'm a avid learner. Yeah, I can't even begin to explain how I do all that you've suggested and more, right? Yeah, yeah. But it takes time and sometimes money to educate yourself about money, business investing and personal growth. But the payoff is so worth it because it means that your mind is open to more opportunities to increase your wealth. That is really key, right? And then you know, to touch on what you said about talking to people, I also want to make a distinction that you want to be having those conversations with the right people. Now, what I mean by that, if you're always around people who have a scarcity mindset, always talking about what can go wrong, they're over critical without offering a solution or potential way forward. Those conversations erode confidence. So steer away.
• 19:46
  Malika Petersen: Now I want to encourage people, because I've had people come to me before and go I don't really have people like that in my life, right? And I want to encourage. It. Then read about people like that, then go on social media and follow people like that, positive people who understand positive things, avoid bad stories or sad stories, right? So I always say to people, even if you don't have those people around you, go and find them. Join different hobby groups, meet them. You will find them, right? Because if you're around people who are positive and are having candid and meaningful discussions that prompt opportunities, who are also trying to level up, you'll be inspired to do the same.
• 20:34
  Arthi Rabikrisson: Yeah, yeah. I completely, completely get you on that, Malika, as you just talking about, it's also spurring me on in terms of my thinking here about what you've just said now, particularly on setting goals. Because guess what? Everybody that is another key habit, wealth doesn't happen without planning. If you don't know where you're headed, how are you gonna get there, right?
• 20:54
  Arthi Rabikrisson: It's really you're you're shooting in the dark. So when you start to set financial goals, even the smallest of ones, they actually help to keep you focused and you're moving in the right direction. That's the
• 21:08
  Malika Petersen: But I think it's also important Arthi that way to go.
• 21:10
  Malika Petersen: we talk about some challenges, right? Because the reality of the situation is changing your mindset is not easy. So I think we need to talk about what are some of the roadblocks that people might face when trying to build a wealth mindset, I would position that the biggest challenge is usually a fear of failure. People are really scared of taking risks because they're worried that they'll either lose money or time or face judgment from others, right? But here's the thing, wealthy people understand that failure is part of the process.
• 21:47
  Malika Petersen: Every successful person has failed at some point, so always embrace failure. My husband always says, I think I've shared this with you guys before, but my husband always says, Every failure is one step closer to the next success.
• 22:00
  Arthi Rabikrisson: I love that.
• 22:00
  Arthi Rabikrisson: I love that because it underscores the positivity and the opportunity inherent in failure. And I've also experienced that myself, Malika, my greatest successes have actually come from previous failures. So it's an important, important one, but yes, it is a challenge, and everyone there are ways to consider embracing failure. And in fact, you know, tell us, do you want us to dive in a little bit more into this piece? Particularly, we'd be happy to we'll go into it into an upcoming episode. I think there's also another issue, Malika, and I definitely see this in coaching as well. There is a big fear component to it.
• 22:35
  Arthi Rabikrisson: But everyone, I'm sure you've heard of this phrase, the imposter syndrome. The imposter syndrome is when you feel like you don't belong or you're not capable of achieving great things. But here's the truth, you don't have to have all the answers or to be perfect. You just have to keep going, learning, growing, doing all of these things that help nurture you to keep moving forward.
• 22:57
  Arthi Rabikrisson: Another roadblock is impatience.
• 23:01
  Arthi Rabikrisson: So again, sometimes you know talking about this, keep going, learning, growing, we can be frustrated because we want things to happen like yesterday.
• 23:06
  Arthi Rabikrisson: But unfortunately, you know, when you have impatience coming into the system, it's actually going to start to erode what's happening in front of you. You lose presence, you lose focus, you lose discipline, and you can miss a lot of key information that can unlock that opportunity for you. So everyone try and exercise a bit more patience and be persistent in that goal setting, in that taking one step forward and moving forward.
• 23:34
  Arthi Rabikrisson: Those are key things you want to get right.
• 23:38
  Malika Petersen: I think we've covered a lot today right, but I think most important takeaway is that a wealth mindset is about more than just money, right?
• 23:45
  Malika Petersen: It's about believing in yourself, about taking action and thinking with an abundance mindset. And I think this season, I'm really excited, because we're going to unpack each aspect of the wealth mindset in detail. We're going to share some amazing tips, tricks and exercises that will help you grow and develop your wealth mindset. Andwith that, Arthi, can you believe it's time for parting shots already? Over to you, what is your parting shot?
• 24:14
  Arthi Rabikrisson: Okay? I would say everyone you are in charge of your own destiny. Okay, when you think yourself abundant, you
• 24:19
  Malika Petersen: Yeah, I think that my parting shot is that do yourself abundant meaning, you start to take actions that building wealth starts with your mindset, right? And I mean, help you be abundant. And guess what, you also create abundance as a result. And in fact, in more ways than one, financials we've shared lots about action required in previous episodes, included. So I want to say to you also, everybody, be the superhero of your financial freedom. It's all within your but it's all for nothing without the right mindset. Take small reach. What about you, Malika?
• 24:47
  Malika Petersen: What's your parting shot?
• 24:54
  Malika Petersen: steps every day to shift how you think about money, success and opportunity. Wealth and abundance is limitless, so let's focus on its infinite nature.
• 25:17
  Arthi Rabikrisson: I hear you.
• 25:17
  Arthi Rabikrisson: You know what I'm thinking.
• 25:19
  Arthi Rabikrisson: Let's explore the multiverse like Doctor Strange and open up lots of portals to different financial dimensions. What do you think?
• 25:30
  Malika Petersen: Your mindset is just the start. So let's Shazam! it and HULK out.
• 25:37
  Arthi Rabikrisson: Okay, I love those superhero references. Well done. Let's do it, everyone.
• 25:40
  Arthi Rabikrisson: Let's go for it!
• 25:43
  Malika Petersen: Until next time everybody, Ciao!
• 25:46
  Arthi Rabikrisson: Ciao!
• 25:49
  Malika Petersen: Thanks for joining us. We hope you found these ideas and guidance useful.
• 25:54
  Arthi Rabikrisson: We're both seasoned in the investments industry. Malika is at the coalface of how, where and why people invest the way they do.
• 26:04
  Malika Petersen: I certainly am.
• 26:04
  Malika Petersen: And you, Arthi, you've witnessed different types of investor behaviors around money, too, and now work as a global award winning coach to free us from the mindsets that stop us from becoming financially free.
• 26:20
  Arthi Rabikrisson: Do subscribe, share and write a review, or send us comments. We would love to hear from you.
• 26:27
  Malika Petersen: Catch you on the next episode
• 26:29
  Arthi Rabikrisson: of the swan effect podcast.
• 26:31
  Malika Petersen: Bye for now.
• 26:32
  Arthi Rabikrisson: Ciao!