451: The 9-Step “Stairway to Wealth” That ANYONE Can Use to Become Rich

BiggerPockets Money Podcast

BiggerPockets

Investing, Education, Business

4.6 • 2.9K Ratings

🗓️ 18 September 2023

⏱️ 58 minutes

🔗️ Recording | iTunes | RSS

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Summary

This “financial order of operations” could be your ticket to financial freedom. If most Americans followed these steps, they would find themselves debt-free, with full retirement accounts, passive income, and “wealth-accelerating” investments that only top-income earners can access. But you don’t need to make hundreds of thousands of dollars a year to follow this “Stairway to Wealth”; you just need to follow these steps! Andrew Giancola from The Personal Finance Podcast built the “Stairway to Wealth” after realizing that the common wealth-building plans, like Dave Ramsey’s “Baby Steps,” wouldn’t fit most people’s lifestyles. Instead, Andrew worked to develop a system that almost anyone could use, one that was tailored to TODAY’s financial environment and gave people more of a choice when it came to their investments. Following this nine-step plan, you can go from low cash and high debt to debt-free, financially safe and secure, and invested for your future. Whether you’re starting on step one or step nine, this type of financial framework can make financial independence and early retirement MUCH easier. In This Episode We Cover The “Stairway to Wealth” financial order of operations ANYONE can use to build wealth Emergency reserves and why the “$1,000 standard" amount ISN’T enough Roth IRAs, 401(k)s, and which retirement accounts to invest in Paying off debt and which interest rate is worth tackling first The “wealth accelerators” that boast massive returns but with higher risk The “super retirement account” that most Americans don’t know about And So Much More! Links from the Show BiggerPockets Money Facebook Group BiggerPockets Forums Finance Review Guest Onboarding Join BiggerPockets for FREE Scott's Instagram Mindy on BiggerPockets Grab Scott’s Book, “Set for Life” Listen to All Your Favorite BiggerPockets Podcasts in One Place Apply to Be a Guest on The Money Show Podcast Talent Search! Money Moment Learn from Other Real Estate Investors on the BiggerPockets Forums Start Your Real Estate Investing Journey with the “BiggerPockets Real Estate” Podcast Are Dave Ramsey’s 7 Baby Steps Overrated Master Money The Personal Finance Podcast The “Stairway to Wealth” Andrew on BiggerPockets Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome everybody to the Bigger Poggin's Money Podcast where we are interviewing Andrew
0:04.4	Giancola today and talking about the stairway to wealth, the order of operations for your money.
0:11.0	Hello, hello, hello, my name is Mindy Jensen and with me as always is my breakfast table
0:16.5	date co-host, Scott Trent. Thanks Mindy, it's great to be here and with that I'ma let you
0:22.0	continue on with this introduction. Scott and I had breakfast this morning and it was delightful
0:28.9	and he was still able to come up with a pun of course. I have some great skillet this Mindy.
0:34.6	Oh my goodness. I had a breakfast skillet. I had quesadillas, I don't know how to say
0:40.8	uh I can't yeah no I'm not fast like that so you come up with one, Scott.
0:44.8	You can't come up with cheesy breakfast puns the way I can. Oh my goodness. Oh I quit I quit.
0:49.6	You just do it all. Just kidding I'm gonna do mine still. Scott and I are here to make
0:56.7	financial independence less scary, less just for somebody else to introduce you to every money
1:02.4	story because we truly believe the financial freedom is attainable for everyone no matter when
1:07.6	or where you're starting. That's right whether you want to retire early and travel the world or
1:12.3	go on to make big time investments and assets like real estate, start your own business or if you
1:17.2	just want a financial plan that can help guide you on a correct course to financial independence
1:23.5	and long-term wealth will help you reach your financial goals and get money out of the way
1:27.6	so you can launch yourself towards those dreams. Scott I'm going to raise a toast to your breakfast
1:32.5	puns. Oh nice. I didn't come up with that myself though I do have to give credit where credit is
1:37.0	due and that was from our producer Kaylyn who is just as quick as Scott is. I am still way, way,
1:43.6	way slow. Thanks of brunch. That was she just like that was her message right now. That was fantastic
1:48.6	goodness. I can't even use all these puns. Huh. All right. It's now time for the money moment
1:55.3	where we share a money hack tip or trick with you, our listeners. Today's money moment is
	...

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