April 23, 2015

FM 020: How to Get Rich Slowly with J.D. Roth

1 hour 21 minutes

Click here to download the transcript of J.D.'s best tips to get rich slowly!

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Everyone wants to know how to get rich, but few ever get there.

The answer is surprisingly simple, but most people seem to have a passion for making things needlessly complicated.

The first step to achieving financial success is you need a rock solid financial foundation. Otherwise, you could have all the money in the world, but no clue on how you should manage it.

A poor financial foundation will cause you to get lost in debt, going through the motions in life without a clear goal, or ignorant as to how you can effectively use every dollar passing through your hands as a tool to build wealth.

That's why I was excited to interview J.D. Roth, founder of Get Rich Slowly. In this podcast, he shares how bad financial habits and early mistakes put him in credit card debt at the beginning, and how good financial habits turned everything around so that he achieved financial independence at an early age.

You can do the same.

These lessons are simple and timeless, and are consistent with my teachings in both Step 1 and Step 2 of the 7 Steps to 7 Figures course I offer. They can work for you also.

Starting off on the right financial foot is crucial if you want to build wealth. You need to learn how to avoid consumer debt and manage your money like a business, because no one cares more about your money than you do.

Related:

Why you need a wealth plan, not a financial plan.

In this episode you will discover:

The importance of mastering your emotions when it comes to finances.

How to manage your money as if it were a business.

How you can pay off your debt using the snowball method.

Why we need to define our own personal mission statement and goals.

The critical role that living consciously plays in achieving financial freedom.

How focusing on generating cash flow, and avoiding debt, will bring you financial success.

How boosting your savings rate can accelerate the time it takes to reach your objectives.

How you can retire quickly, even on a lower salary.

Why you should align your spending with your values.

Why tracking your numbers is essential to building wealth.

Why J.D. believes there's no one set path to paying off debt.

How goals can set context for your decisions and guide you toward financial success.

Why you should focus on being proactive with your finances, as opposed to reactive.

Why educating yourself is the best thing you can do to improve your financial situation.

How to take responsibility for your situation, even if factors are outside of your control.

The reason you shouldn't be aiming for wealth for the sake of having money.

How J.D. used several types of leverage to build Get Rich Slowly.

How J.D. came to the conclusion it was time to sell the blog and start enjoying life and the wealth he had accumulated.

J.D.'s definition of financial independence – is it different from yours?

How much money you need for financially independence.

How financial independence forces you to shed excuses and start living life on your own terms.

and much more….

Resources and Links Mentioned in this Session Include:

J.D.'s travel blog is FarAwayPlaces.com

His main web site is Get Rich Slowly.

You can get J.D.'s Get Rich Slowly guide here

J.D.'s book, Your Money: The Missing Manual

The 7 Steps To 7 Figures group coaching curriculum

Your Money or Your Life

Other recommended reading on building wealth

My debt snowball calculator

Built to Last: Successful Habits of Visionary Companies (Harper Business Essentials)

Mr. Money Mustache

How Anyone Can Retire in 10 Years or Less

Early Retirement Extreme

The Millionaire Next Door

Podcast interview with Luke Landes

Tess Vigeland of Marketplace Money

Jaime Tardy from Eventual Millionaire

The Happiness Project: Or, Why I Spent a Year Trying to Sing in the Morning, Clean My Closets, Fight Right, Read Aristotle, and Generally Have More Fun

FinCon Expo (Financial Blogger Conference)

It's a Wonderful Life (60th Anniversary Edition)

My book on the 4% rule

Article on Get Rich Slowly JD wrote about Early Retirement

Debt is Slavery: and 9 Other Things I Wish My Dad Had Taught Me About Money

World Domination Summit (Conference J.D. helps with)

(Please note: some of the links above are affiliate links so if you buy a course or book using these links I will receive a little compensation. Thank you for supporting this site!)

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