372: What's the Quickest Way to Become a Millionaire?
Be Wealthy & Smart
Linda P. Jones
4.8 • 883 Ratings
🗓️ 2 February 2018
⏱️ 11 minutes
🧾️ Download transcript
Summary
Learn how to shorten the path to wealth.
It's listener question Friday!
Yesterday a listener asked me what was the quickest way to become a millionaire?
Although getting rich quick is not recommended because it's usually accompanied by high risk of loss, I want to talk about something related to it that is important for you to know.
First, let's talk about what creates wealth?
When creating wealth, the one thing that matters the most is the rate at which you compound money.
It's not all about how much money you have to start with.
Compounding grows your money and creates additional money.
Learn more by listening to the podcast.
If you'd like short wealth building ideas emailed to you once a week, join my email list at http://lindapjones.com by opting into the "11 Quick Financial Tips to Boost Your Wealth."
Transcript
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| 0:00.0 | Be Wealthy and Smart, episode 372. |
| 0:02.8 | I'm gonna live no rich life. |
| 0:06.8 | Rich life. |
| 0:07.8 | If you all know what I mean, put your hands up and declare with me |
| 0:13.7 | yeah I'm full of faith I'm gonna live a good life I'm gonna live the good life |
| 0:21.1 | a few and glorious life Step into a world of wealth of wealth and financial freedom without budgets, boredom or bosses on |
| 0:31.3 | be wealthy and Smart. |
| 0:34.0 | And now here's your host, Linda P. Jones. |
| 0:38.2 | Welcome to Be Wealthy and Smart. |
| 0:39.7 | I'm Linda P. Jones, America's Wealth Mentor. |
| 0:42.2 | Empowering women and Men Worldwide to Financial Freedom. |
| 0:46.0 | On today's show, we're going to talk about a listener question, which was, Linda, what is the quickest |
| 0:52.1 | way to become a millionaire? |
| 0:55.0 | Well, I'm not for Get Rich Quick schemes, but I do want to explain to you that there are some |
| 1:01.2 | ways that can help facilitate you becoming a |
| 1:04.2 | millionaire faster. And so that's going to be the subject of this |
| 1:07.8 | podcast today. So let's first talk about what creates wealth. |
| 1:14.8 | As you know, I have talked about the six steps to wealth |
| 1:17.6 | and the process of wealth creation. |
| 1:20.2 | But of those six steps, the one thing that matters the most is the rate at which you compound money. |
| 1:27.0 | That's step five, compounding at a high rate. |
| 1:31.0 | It doesn't really matter how much money you have to start with or how little money you have to start with, |
... |
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