How to Become a Millionaire By Age (2024 Edition)
Money Guy Show
Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors
4.7 • 3.1K Ratings
🗓️ 22 March 2024
⏱️ 41 minutes
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Summary
Transcript
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| 0:00.0 | How to become a millionaire by age? |
| 0:02.4 | I am so excited about this because I think we all have this idea. I want to be a |
| 0:13.8 | millionaire. Even if we want to be multi-millionaires because we understand |
| 0:18.2 | how the value of money changes through time. What I love about this show what I love about what we're going to talk about |
| 0:23.8 | today is that it is not an inescapable goal. It is not something that is not attainable |
| 0:28.8 | for most folks if you just understand the things that I should be doing and maybe also the things that |
| 0:34.1 | I specifically should not be doing. |
| 0:36.4 | And I want our audience to follow the thread that I think this is why I love how everything |
| 0:41.9 | is so integrated with the Money Gosh show is that we talk about how to become a millionaire by age, but it also is hitting upon the pillars of the three ingredients to wealth. |
| 0:52.0 | When I'm talking about the three ingredients, |
| 0:53.8 | I'm talking about, of course, discipline. |
| 0:55.8 | You live on less than you make |
| 0:57.1 | so you can create margin in your life |
| 0:59.0 | to have the second ingredient, which is turning that discipline |
| 1:02.0 | into money. And then you invest that money with enough |
| 1:05.9 | time the third ingredient that is actually the recipe for success and here's what's cool |
| 1:11.5 | if you're young meaning you have an abundance of time and your discipline, it doesn't require as much money. |
| 1:18.0 | And you can work with these ingredients and figure it out. So we want to walk through because it is going to be different for a 20 year old |
| 1:23.7 | than it is for a 50 year old so I think it's nice to tell you by age what you can consider |
| 1:29.1 | and what you can control to maximize your journey. |
| 1:31.5 | And here's what's what's amazing. |
| 1:32.6 | It's so simple, it's so beautiful, |
... |
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