How to Shorten the Path to Financial Freedom
Be Wealthy & Smart
Linda P. Jones
4.8 • 883 Ratings
🗓️ 30 November 2018
⏱️ 30 minutes
🧾️ Download transcript
Summary
Learn what to do while you're following the 6 Steps to Wealth.
This is a listener question:
Danise asks how to be patient during the wealth building process, while working on a wealthy mindset and doing the steps, but staying positive and patient through the process.
I give 6 specific areas to make sure and pay attention to, that you can follow while you are working on the 6 Steps to Wealth.
Each area has several sub-areas:
1. Live life with joy
a. Connect with your passions, do what you love.
b. Don't make money more important than living.
c. Be a smart spender.
2. Match your spending with your priorities
a. Home, family and retirement are three important priorities that you should be putting first.
3. Avoid the BIG financial mistakes
a. Don't move homes
b. Don't buy new cars or finance cars
4. Automate your savings
a. Save 20% if you can.
b. Use 401k, IRA's, Roths, HCA's
c. Dollar cost average into investments
5. Identify wealth building opportunities
a. Bubbles and cycles
b. High compounding trends
c. Beware the housing market
6. Get obsessed with compounding!
a. The billionaire was obsessed
b. You won't believe these compounding rates or where they came from.
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Transcript
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| 0:00.0 | Be Wealthy and Smart episode 489. If y'all know what I mean put your hands up and declare with me |
| 0:13.8 | yeah I'm full of pain I'm gonna live a good life I'm gonna live a good life |
| 0:21.1 | beautiful and glorious life Step into a world of wealth and wealth and financial freedom without budgets, boredom or bosses on |
| 0:31.4 | be wealthy and smart. And now here's your host, Linda P. Jones. |
| 0:37.0 | Welcome to Be Wealthy and Smart. I'm Linda P Jones, America's Wealth Mentor. Empowering |
| 0:42.0 | Women and Men Worldwide to Financial Freedom. |
| 0:45.0 | On today's show, we're going to answer a listener question. |
| 0:48.0 | And I love this question because it really gets me thinking about all of the steps to wealth and how you can be doing |
| 0:56.1 | all of them at the same time. This question came to me on Instagram from Denise Gerato. I hope I didn't mess up your name, Denise. |
| 1:07.0 | And she said, she wanted me to talk about how to be patient in the process, you know, while working on a |
| 1:14.6 | wealthy mindset and doing the steps, but staying positive and patient throughout |
| 1:19.2 | the process. So great question and I love getting listener questions if you want to |
| 1:24.8 | direct message me on Instagram that's probably the best way to do it otherwise |
| 1:29.2 | Twitter at Linda P Jones is the best place to find me with your questions. |
| 1:35.0 | But I love this question because it really allows me to incorporate all of the steps. |
| 1:41.0 | So we're going to cover a lot of material and we're going to talk about how you're going to do all of these things at once, not in an overwhelming way, but in a way that's going to help you prioritize what's |
| 1:54.8 | important to you and a way that is going to get your money working harder for you. |
| 2:00.0 | So you don't have to work so hard, because a lot of times we don't think about where our money's going or we don't really prioritize things and that can be a huge problem. |
| 2:09.5 | And while you're all familiar with the six steps to Wealth and that whole process and if you aren't go back to some of my earlier |
| 2:18.0 | Be Wealthy and Smart Podcasts and you'll learn all about the Six Steps to wealth and the whole process of going from |
| 2:24.6 | zero to wealth but what can you do while you're in process is really her |
| 2:29.0 | question and so that's what we're going to talk about. |
... |
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