The formula to build wealth isn’t complicated. Most American millionaires have figured it out, and you might have as well. It’s safe to say that almost every wealthy American has followed these three steps that lead to a life of riches. If you follow the same path, you, too, can end up with financial independence, early retirement, and generational wealththat will propel your family forward. But, even though these steps are simple, most Americans can’t or won’t follow them.

Joining us in the fight to help every American reach financial freedom are Brian Preston and Bo Hanson from The Money Guy Show. Brian and Bo both boast numerous financial acronyms after their names. As licensed financial professionals (CPAs, CFPs, PFSs, CFAs), it’s fair to say that they know their way around a portfolio. They’ve been helping their clients and podcast listeners build wealth no matter what stage of life they’re in. And their newest study on millionaires has illuminated some surprising takeaways.

In today’s show, Brian and Bo break down EXACTLY what millionaires are doing that average Americans aren’t, the three core principles you MUST follow to build wealth, diversification vs. concentration, and whether or not real estate should be a part of your portfolio. So whether you just got your first job, are nearing retirement, or hover somewhere in between, Brian and Bo give actionable advice you can take away to not only build wealth but keep it for generations to come! 

In This Episode We Cover

The three core principles you MUST follow to build wealth and become a millionaire

Self-made riches and the surprising facts about starting from SCRATCH 

How to protect your generational wealth after you’ve made it

Why those that reach financial independence rarely choose to retire early

Diversification and whether your business, home, or stock portfolio owns too much of your wealth

The right way to invest in real estate for early retirement (and when it’s TOO risky)

Rising interest rates and how this will affect those pursuing financial independence

And So Much More!

Links from the Show

BiggerPockets Money Facebook Group

BiggerPockets Forums

Finance Review Guest Onboarding

Join BiggerPockets for FREE

Scott's Instagram

Mindy on BiggerPockets

Grab Scott’s Book, “Set for Life”

Listen to All Your Favorite BiggerPockets Podcasts in One Place

Apply to Be a Guest on The Money Show

Podcast Talent Search!

Subscribe to The “On The Market” YouTube Channel

Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets

Money Moment

Listen to “The Money Guy Show”

Download the Financial Order of Operations

Work with Brian and Bo

Click here to check the full show notes: https://www.biggerpockets.com/blog/money-404

Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Let us know!

Learn more about your ad choices. Visit megaphone.fm/adchoices