The millionaire path can be simple, but it isn't easy for many people. When I was looking for a simple approach to investing it was hard to find!
So how can we find a roadmap with simple steps that will help us become millionaires in the future?
To help us on our straightforward Millionaire Mission, I’ve invited Brian Preston back to the show today. Brian is the author of the new book Millionaire Mission: A 9 Step System to Level-Up Your Finances and Build Wealth. He’s also the founder and host of The Money Guy Show and Managing Partner and co-founder of Abound Wealth Management.
Overview: How to Become a Millionaire From $0 w/ Brian Preston
Brian Preston reviews the following:
- How to combat the limiting beliefs around becoming a millionaire
- The simple steps to take to become a millionaire
- Why we shouldn't believe the consumeristic millionaire myth portrayed in media
Where to Listen or Watch
Key Takeaways from Brian Preston
Here are my top three takeaways from my conversation with Brian Preston
Index Funds Quiet the Noise
There is so much noise out there when it comes to what to invest in … single stocks, options, crypto … Investing in index funds is not only simple, but it’s proven and effective.
This is the exact strategy that my wife and I used on our millionaire mission and I’ll tell you from experience … it works!
Your Employer Match at Work is Powerful
Getting free money from your employer through a 401k match can help you boost your savings rate and hit your millionaire goal a lot sooner.
I benefited from this with my last employer. Year after year I would receive thousands of dollars in free money from my employer. This grew substantly over my 7 years there as I was maxing out the 401k and getting that employer match.
When I left, I had accumulated $200,000!
That $200k has turned into $300k over the last few years through additional contributions, time and compound interest.
If I don’t add another dime to that total and let it cook for another 20 years, I could have over $1,000,000 at retirement – and that factors in inflation too.
So … in short, get that employer match!
Becoming a Millionaire Will Solve Some Of Your Problems (Not All of Them)
If you’re miserable without wealth, you can still be miserable with wealth.
Now, I do believe that money can buy a level of happiness, but money won’t do the hard work of discovering your purpose and helping you determine what TRULY matters most in your life.
The good news is … you can do that discovery at whatever stage of wealth you’re in. Once you earn enough to take care of your basic needs, allocate time for personal reflection and discovery.
If you’re so driven and think, I’ll be happier when I’m rich … then you’re not taking the time to realize a rich life (in many senses of the word) can happen now.
Guest Bio – Brian Preston
Brian Preston is the author of the forthcoming book Millionaire Mission: A 9-Step System to Level-Up Your Finances and Build Wealth, founder and host of The Money Guy Show and Managing Partner and co-founder of Abound Wealth Management (an RIA with around $1 billion in assets under management).
With over 25 years of financial planning experience, he loves helping people implement simple financial strategies that go beyond common sense. He started podcasting as a passion project in 2006 out of pure enthusiasm for this new medium that allowed him to share the good news of financial strategy with the masses.
Fast forward to today, and The Money Guy Show is its own enterprise, helping millions of individuals build wealth and own their time through podcasts, YouTube videos, courses, social media posts, and more.
Carpe Diem Quote:
“Rely on the ordinary virtues that intelligent, balanced human beings have relied on for centuries: common sense, thrift, realistic expectations, patience, and perseverance.”
Jack Bogle
What do you think of our discussion with Brian Preston? Do you have any questions on how to become a millionaire?
Please let us know in the comments below.
