Today's episode features Dustin Mathews from WealthFit.

Dustin worked for and built several businesses.

Some of these businesses had huge incomes and expenses but Dustin found himself without a ton to show for it.

Then Dustin discovers FI and starts radically changing how he lived and starts spreading financial advice himself.

Listen, learn, and let us know what you think about Dustin's amazing turnaround.

Episode Summary

Dustin's Journey to FI

He attributes Rich Dad Poor Dad as his entry into FI

Most of his work / finance life was around building a business and selling it

He started out with some startups but then decided to create his own business

Dustin admits he didn't mind racking up debt for these businesses

He attributes his entrepreneur spirit from his mom

Dustin's First Business

As part of a mastermind, he found someone who could use some marketing help

The business was selling courses around lines of credit for businesses

 A big recommendation Dustin give is doing lots of small changes and testing along the way.

After Discovering FI

He walks us through the tough conversations with his wife

Dustin also said that for tracking expenses, a google sheet stuck with him where fancy apps didn't

Then Dustin got the opportunity to go work for Wealthfit

Stepping Back to His Six-Figure Courses

He starts getting involved in product launches which were very profitable

Then he starts a seminar business around teaching others to do product launches

These seminars could bring in over $1M a year

That would be over $250k over three days

It's important to remember that was gross income

The business kept sprawling with more expenses

On top of that, Dustin was spending all his money without worrying about saving

Teaching Others From His Mistakes

When Dustin got the opportunity to work at Wealthfit he was excited

Excited to help others avoid mistakes he made with his businesses and personally grow

He calls Wealthfit the Netflix of personal finance

They have courses and materials around both personal finance and entrepreneurship/side hustles

We wrap up with Dustin sharing how he landed Dennis Rodman on his podcast

 

Key Takeaways

Easy Come, Easy Go: It's awesome to grow your income but you need both intentional spending and income in order to make progress

Lift others with your mistakes: We loved how Dustin brings his knowledge and opens up about his failures in a way to help others

People can change: Dustin has felt what it's like to live a life full of expenses and huge incomes but the FI message still resonated eventually

Call to Action

Slow down a little if you still haven't found your purpose and re-evaluate that your money and effort are aligned with your goals.

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Dustin's Information