The formula to build wealth isn’t complicated. Most American millionaires have figured it out, and you might have as well. It’s safe to say that almost every wealthy American has followed these three steps that lead to a life of riches. If you follow the same path, you, too, can end up with financial independence, early retirement, and generational wealth that will propel your family forward. But, even though these steps are simple, most Americans can’t or won’t follow them.
Joining us in the fight to help every American reach financial freedom are Brian Preston and Bo Hanson from "The Money Guy Show." Brian and Bo both boast numerous financial acronyms after their names. As licensed financial professionals (CPAs, CFPs, PFSs, CFAs), it’s fair to say that they know their way around a portfolio. They’ve been helping their clients and podcast listeners build wealth no matter what stage of life they’re in. And their newest study on millionaires has illuminated some surprising takeaways.
In today’s show, Brian and Bo break down EXACTLY what millionaires are doing that average Americans aren’t, the three core principles you MUST follow to build wealth, diversification vs. concentration, and whether or not real estate should be a part of your portfolio. So whether you just got your first job, are nearing retirement, or hover somewhere in between, Brian and Bo give actionable advice you can take away to not only build wealth but keep it for generations to come!
00:00 Intro 00:50 Money Moment 01:12 The 3 SIMPLE Steps to Wealth 05:40 Secrets of the Average American Millionaire 15:27 The Right Way to Invest in Real Estate 23:21 Diversification vs. Concentration 33:26 Getting Wealthy vs. Staying Wealthy 38:49 Will High Interest Rates Hurt Investing? 44:54 Connect with The Money Guys!
