Get Rich Education is brought to by Norrata Real Estate and Ridge Lending Group.

Welcome to Get Rich Education with Keith Winehold, giving you information and ideas on the investment that has turned more ordinary people into millionaires and

billionaires than anything else and can provide you with more wealth and happiness than you

ever thought possible. Now, here's your host, investor, entrepreneur, business owner, and

educator Keith Weinhold.

Welcome to Get Rich Education, episode 74. I'm your host, Keith Weinhold. GRE is back to help you build durable wealth for yourself, the only show of its kind that's educational,

actionable, and inspirational. So the old advice to save money

for the long term has echoed from generation to generation throughout history, and that old

advice is outdated. It is not serving you. In fact, it hasn't even been relevant for more than a

generation. Yes, saving money

for the long term hasn't even been relevant for more than a generation. I wonder if you can

recall the day you opened your first bank savings account. Okay, we all did it. I can remember

going to Manufacturer's Hanover Bank in

Olean, New York when I was 12 to open my first account. It was done in person with a bank teller.

My dad was there to help me. And in those days, it was all done manually. I got this little

pass book, like a four inch square book with my initial deposit amount

handwritten into it. It seemed like it was $500, okay? All right, remember, I had income from

being the biggest kid baseball card dealer in town, all right? So opening that account made it

official, and I had now entered the world of money, really,

okay? But is the advice of saving money really good advice? Well, I think that the bigger

issue is how people manage their money. The assumption most financial experts make is that

the only way a person can retire is to save their way to retirement.

...