How To Become Wealthy

The three-step plan for becoming financially wealthy and how to be wealthy without the money.

In this episode you’ll learn:

• The results of two recent surveys on wealth, investing and retirement planning.
• How much money do people believe they need to consider themselves wealthy.
• How is wealth distributed across the U.S. population and how wealthy are Americans?
• Why you need a simple financial plan.
• What are the three steps to becoming financially wealthy.
• How to live like you are already wealthy.

Thanks to WIX and Sleep Number for sponsoring the episode.

For show notes and more information on this episode click here.

• [0:16] Schwab and Stash survey results.
• [2:49] Saving vs. living paycheck to paycheck.
• [4:29] How much does one need to be considered wealthy?
• [7:44] The value of social security.
• [9:23] The historical distribution of the country’s overall wealth.
• [11:33] The importance of having a plan.
• [13:38] Step One: increase your income.
• [15:10] Step Two: increase your savings percentage.
• [16:44] Step Three: increase your investment returns.
• [23:57] It’s not about optimization. It’s about diversifying and learning.
• [25:20] How to live like you are wealthy today.

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