How to Get Rich AND Stay Rich! (The 5 Things You Need to Know)

Money Guy Show

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

Education, Investing, Business

4.7 • 3.1K Ratings

🗓️ 5 February 2021

⏱️ 46 minutes

🔗️ Recording | iTunes | RSS

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Summary

It's not always about how much money you make. It's about how much money you keep. We often share strategies on how to build wealth and reach your first million, but are you equipped to hang onto it in the long-run? This episode lets you learn from our experience with high income individuals. Some have kept their wealth, building it for the long-term, while others have fallen into common, but dangerous habits that have caused financial failures. Which will you be? For more information, visit: https://www.moneyguy.com/2021/02/how-to-get-rich-and-stay-rich/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	How to get rich and more importantly, stay rich.
0:04.5	It's Brian Preston, the money guy, restoring order to your financial chaos, retirement,
0:11.4	investing, taxing.
0:13.2	You've got financial questions, he's got financial answers.
0:16.8	It's Brian Preston, the money guy.
0:19.4	Yeah, Brian, I'm really excited about this show because you know, we have a little saying
0:23.8	when we talk to financial planning clients, we talk about making good financial decisions,
0:27.9	we always tell them, you know, it's not always about how much money we're going to make
0:29.9	money you make, it's about how much money you keep.
0:33.4	Well, I like that this show is kind of in that same vein because this one is not going
0:37.2	to be about how do you so much, how do you get wealthy, but how do you stay wealthy for
0:42.4	the long term?
0:43.4	Yeah, well, we're going to take them on a journey.
0:44.6	We're going to talk about what we've learned from our experience on what does actually create
0:48.0	wealth.
0:49.0	But then more importantly, and they were going to spend a lot of focus on how do you stay
0:52.2	wealthy?
0:53.2	Because that is something, I think it's very interesting that you have two skill sets.
0:57.7	A lot of people think these things are related, but it's actually two separate skill sets.
1:02.2	One requires you to take risk to build wealth over time, and another one is going to have
1:06.6	you mitigate that risk so that you actually stay in the game and actually keep the wealth.
1:10.7	So we're going to kind of cover the basics and make sure you're prepared either way.
	...

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