Top Wealth Building Strategies by Net Worth
Money Guy Show
Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors
4.7 • 3.1K Ratings
🗓️ 23 August 2024
⏱️ 38 minutes
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Summary
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| 0:00.0 | Top Wealth Building Strategies by Networth I am so excited about this because we know that in our financial journey |
| 0:14.3 | depending on where we are the things that we focus on might be different I love that |
| 0:18.9 | today we're gonna talk about those strategies, those focus areas, |
| 0:23.2 | depending on where you are in your wealth building journey. |
| 0:26.0 | Well, what I love about our channel |
| 0:27.7 | is that we do try to give you the differentiation of, |
| 0:31.7 | when you're starting out out you're completely different than |
| 0:33.7 | somebody who's been saving and investing for 20 plus years and is probably getting close |
| 0:38.2 | to seven figures. |
| 0:39.6 | So today we're going to kind of lean into that a little bit extra and say, hey, wherever you are, let |
| 0:44.7 | us give you the strategies to think about in your section of the hunt towards your first |
| 0:49.8 | million dollars. |
| 0:50.8 | Now in the strata that we're going to use today, are going to exclude home equity so we're really talking about your net worth outside of your home |
| 0:56.9 | But when you do your annual network statement it's totally fine to include your net worth in there but for the purposes of today's show we're |
| 1:05.0 | talking about net worth it's not just because you bought a house in a really solid |
| 1:09.8 | you know cost of living area where the price of homes went up. This is based on where you are |
| 1:15.2 | in your accumulation phase of building wealth over the long term. |
| 1:18.6 | Don't miss Harris. We're all about your home equity in your net worth, but it is one of those things. I just don't want you strutting around like George Jefferson just because you happen to buy a house at the right time. |
| 1:29.6 | We got to make sure that you can actually have assets that are working for you. |
| 1:33.0 | Remember, your money should work harder than you do, so we want to protect you by focusing |
| 1:37.1 | on those investments. |
| 1:38.1 | So let's dive right in. |
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