3000: 7 Rules on How to Grow Wealth: Growing Wealth Slow, but Sustainable by The Editors of Get Rich Slowly

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Optimal Living Daily LLC

Investing, Business, Education, Self-improvement

4.4 • 1.3K Ratings

🗓️ 10 January 2025

⏱️ 12 minutes

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Summary

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 3000: In "7 Rules for Growing Slow (But Sustainable) Wealth," the editors of GetRichSlowly.org outline a clear framework for building lasting financial security. From prioritizing net income over gross, to diversifying income streams and leveraging investments strategically, these principles emphasize steady, long-term growth. The goal is not overnight success, but a decade-long journey towards financial independence through discipline, risk tolerance, and smart scaling. Read along with the original article(s) here: https://www.getrichslowly.org/7-rules-for-growing-slow-but-sustainable-wealth/ Quotes to ponder: "Think net instead of gross increasing your net income by lowering your taxes is no different than raising your gross income." "Create budgets to save some and invest the rest. This by itself is a savings account with minimal risk that leads to much better returns." "Scaling is your ability to add different types of investments to your portfolio based on the size of your wealth." Learn more about your ad choices. Visit megaphone.fm/adchoices

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0:30.7	It's taken a few months, but I think I've almost chosen our next car. I've weighed up new versus
0:34.9	secondhand, assessed the depreciation rates and spoken to eight insurance providers. I'll be ready to enter phase two of selection over the next few weeks.
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0:58.0	drivepivotal.com. This is Optimal Finance Daily. Seven rules on how to grow wealth, growing wealth
1:06.7	slow but sustainable. By the editors of get rich slowly.org.
1:12.6	You can grow and sustain wealth if you have nothing right now.
1:18.1	Many will argue that fortunes can be made overnight.
1:21.6	While that may hold very true in some cases,
1:24.4	the majority of those who have made it will tell you it did indeed take a great
1:28.8	deal of time coupled with some correct financial choices. For me, Wells did not come solely
1:35.5	from entrepreneurship or financial risk, but rather it came as a result of diversifying my
1:41.3	investments, all while growing my equity leverage and identifying the right
1:46.0	opportunities early on. I made my first million before the age of 27. It took me close to 14 years
1:54.0	of hard work and trial and error to get there, but I did get there nonetheless, and I can tell you that it was quite a learning experience.
2:04.0	I not only learned a lot about my capacity and tolerance for risk, but also quite a bit about
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