There's what fire advice tells you to do with money, and then there's what the top 1% actually

does. Today, we're exposing the misconceptions about high net worth spending habits and the

investment strategies that separate the ultra wealthy from everyone else.

Hello, hello, hello, and welcome to the Bigger Pockets Money podcast.

My name is Mindy Jensen, and with me as always is my investment junkie co-host, Scott Trench.

Thanks, Mindy.

Always great to be here, bonding.

Although that's not what the 1% does, apparently, with you over another money discussion.

All right, we are excited to welcome Tad Fallows.

He is the co-founder of Longangle, a private digital community of highly successful young

entrepreneurs and executives. We're going to talk about the misconceptions of how high net

worth people become high net worth in the first place and how they manage their money and invest

and how that differs or is highly

overlapping with the strategies of the fire community. Tad, welcome to Bigger Pockets Money.

Thank you so much for having me here. It's a pleasure. Well, let's start with your

story and get a little bit of background about you. Can you tell us about your entrepreneurial

journey and how you currently invest?

So my entrepreneurial journey, I tried to start a number of companies sort of throughout my childhood.

I always thought that would be a fun thing to do.

More in earnest came in my early 20s.

So I worked for a couple of years out of college in consulting.

And the end of that, I was sort of on the fence of, hey, the traditional path would be go to business school, come back again, the partner track there. But I didn't feel quite ready for that. I actually loved consulting and I thought I'd be there longer term. But I said, okay, you know, I've had a lot of time doing cases and giving kind of general advice. I don't want to do more of that in business school of more analysis.

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