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Money Guy Show

How to Be Wealthy By Age! (2025 Edition)

Money Guy Show

Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors

Education, Retirement, Moneyadvice, Investing, Savingmoney, Personalfinance, Business

4.62.8K Ratings

🗓️ 20 September 2024

⏱️ 36 minutes

🧾️ Download transcript

Summary

It can be hard to know what makes someone “wealthy” depending on where they are in their journey.

So, here are some wealth checkpoints you could shoot for by the end of each decade to assess where you are on that curve.

Jump start your journey with our FREE financial resources

Reach your goals faster with our products

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Connect with us on social media for more content

Bring confidence to your wealth building with simplified strategies from The Money Guy. Learn how to apply financial tactics that go beyond common sense and help you reach your money goals faster. Make your assets do the heavy lifting so you can quit worrying and start living a more fulfilled life.

Transcript

Click on a timestamp to play from that location

0:00.0

How to be wealthy by age? Better yet, are you where you need to be? Brian I love and get so excited when we get to do episodes like this. We talk about

0:16.7

what should I be doing if I'm in my 20s and my 30s and my 40s and how do I know

0:21.6

if I've been doing the right things and what are some

0:24.7

benchmarks and mile markers for me to know do I fall into the camp of wealthy

0:30.2

financial mutant or am I behind the gun what are the pieces and

0:34.8

parts I need to put together this is the type of content you said it and we got

0:39.4

just as energized in our content meeting is because a person a 20 year old or a 25 year old

0:45.0

with a hundred thousand dollars is completely different than a 60 year old that has

0:49.5

a hundred thousand that's right so so is why does nobody actually tell you hey if you want to be wealthy while you're in your

0:56.2

20s you need to have this if you want to be wealthy in your 30s because they are different by every

1:01.1

decade we're going to answer those questions today and I'm

1:03.6

super excited to share. That's my line. How are here? Here we are. So let's jump

1:07.6

right in. Let's start at the very beginning. How to be wealthy in your

1:10.9

20s? Now here's what's beautiful about your 20s. You're at the very

1:15.1

beginning of the journey. You are just coming out of the starting blocks and

1:19.7

time is on your side in this decade and in this stage of life.

1:25.0

Yeah, we talk about this often.

1:26.9

I try to go through this quickly,

1:28.4

is we always say you need to respect the three ingredients

1:31.9

to wealth building. The number one is discipline. Can you live on

1:38.7

less thing you make? And it's such an important thing in your 20 is to kind of focus on those

1:43.8

behavioral things because if you can live on less thing you make that creates

...

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