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Money Guy Show

Top Wealth Building Strategies by Net Worth

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

🗓️ 23 August 2024

⏱️ 38 minutes

🧾️ Download transcript

Summary

Personal finance is personal. A good strategy for someone in their 20s just starting out on their wealth building journey is probably not right for someone with a million-dollar portfolio.

So, we wanted to break down what might be valuable to do with your next dollar, for people at different stages of that wealth building journey.

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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

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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