Whether you realize it or not, we are all playing the Wealth Game. Some never get off first base; others sprint and find themselves in second base; a lucky few reach third base. However, no matter where you are in the game of wealth, you must finish the game and reach the home plate of your financial life. So, what does winning the Wealth Game look like and how do you get there?

In this episode, I discuss why it’s important to finish the wealth game by reaching home plate and outline how to get there. I enumerate the three characteristics of people who have reached home plate. I share the financial tools you can leverage as you generate wealth—including life and disability insurance—and explain why the IRC is the single greatest wealth generation tool in America. I also highlight the value of working with coaches and financial advisors.

 

“The game of wealth is plausible. You can reach home plate. Run as fast as you can, and listen to your coach.” - Justin Goodbread

 

This week on the Financially Simple Experience:

• What winning the Wealth Game looks like
• How you know you’ve reached home plate
• The three characteristics of people who reach home plate
• Teaching others financial literacy
• The books and people who taught me about the principles of wealth and financial literacy
• The definition of generational wealth
• Financial tools to leverage as you generate wealth
• The value of working with coaches and financial advisors

 

Resources Mentioned:

• Book: Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! by Robert Kiyosaki
• Book: The Total Money Makeover: A Proven Plan for Financial Fitness by Dave Ramsey
• Book: Financial Peace: Restoring Financial Hope to You and Your Family by Dave Ramsey

 

Our Favorite Quotes:

• “The game of wealth isn’t about creating money, but creating wealth so we can reach home plate and bless others.” - Justin Goodbread
• “This is what I notice about people who have reached home plate: it no longer becomes about them. They take care of their families and then they become generous by setting up foundations.” - Justin Goodbread
• “The people who win the game of wealth understand the importance of one thing: the importance of having a coach to lay out their plan and hold them accountable to reach their goals.” - Justin Goodbread

 

About The Financially Simple Podcast If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you’ve come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin’s combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey. 

If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher

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Financially Simple is a division of WealthSource Partners, LLC (“WSP”), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC (“WBA”).

 

This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast’s guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast’s hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.