Manage episode 303040922 series 1520619
The wealthy aren’t wealthy because they’re good at saving. They're wealthy because they know how to make their money work for them. In today’s episode, Eric provides six great tips on how the wealthy build wealth. From reinvesting profits to using money optimally, there are many ways to grow your nest egg. Tune in to hear it all!
TIME-STAMPED SHOW NOTES:
- [00:21] Before we jump into today’s interview, please rate, review, and subscribe to the Leveling Up Podcast!
- [00:20] Sometimes, wealthy people keep secrets, but today, we are telling you some of them.
- [00:37] Businesses are there to help stakeholders, so it’s important to reinvest back into the business.
- [02:05] Decide what kind of business you want; taking profits out slows growth.
- [05:26] Think about how to put your money to optimal use.
- [05:37] Mindset matters, so work on it!
- [07:14] Mentorship and masterminds are great spaces for you to grow.
- [07:44] Think about the tax advantages you can try to get.
- [08:46] Saving isn’t going to get you anywhere; reframe it as investing.
- [09:58] There’s a difference between wealth accumulation and wealth preservation.
- [10:28] Your offer matters a lot, so make sure you stand out.
- [11:26] That’s it for today!
Resources From The Interview:
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