Episode 51 Tips for a Wealthy Life

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We each have different visions and ideas about having a wealthy life. For some, it is living life. For most, building generational wealth is part of it.

We all desire to be financially independent so making the strategic decisions that align with the path to financial freedom can make or break our dreams. A great financial plan will enable you to save up, buy the things you want without the fear of being in debt, or achieve your long-term goals like early retirement.

Though achieving financial independence is not easy, owning your time seems like a well worth effort.

This week, we look back at previous episodes with guests who provided tips and knowledge on how you can kickstart your wealthy life.

  1. Be more intentional about saving and investing for your retirement  (From Episode 19: The FIRE Movement – How To Live Off Your Investments and (Retire Early))
  2. Plan your transition from having a side hustle to becoming a full-time entrepreneur (From Episode 29: How to Design Your Dream Career Following Your Own Rules with Pauleanna Reid)
  3. Watch your spending to be on your way to millions (From Episode 4: How to Develop Healthy Financial Habits and Become a Millionaire in 10 Years with Lisa Schader of Money Fit Moms)
  4. Understand the importance of cultivating the next generation (Episode 24: How to Build Wealth, Create a Solid Succession Plan and Achieve Generational Longevity with Lauren Miller)
  5. Follow the rules and be prepared to take action (Episode 10: Why Estate Planning is Important and The Must-Have Documents)
  6. Pay off your debts responsibly to enjoy life (Episode 13: How to Become a Debt-Free Millionaire in Your Thirties and Do Work You Love with Andy Hill)

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Dreamer’s Wealth of Wisdom:
  • F.I.R.E. provided a simple framework, which essentially is about saving a large percentage of your annual income so you can be more intentional about saving and investing in your retirement. – Stephanie Anne-Lyse
  • Focus on building community first, before anything. Once you have a community, you’re able to test your idea, and then based on the data, you can decide whether or not this idea is worth pursuing. – Pauleanna Reid
  • Watch your spending. I think this is more important than just making sure you’re always making more money. – Lisa Schader
  • Work to create this better life for your kids and understand the importance of cultivating the next generation. – Lauren Miller
  • When it comes to having a will, you have to follow the rules in your state or in your country. – Stephanie Anne-Lyse
  • We tried to find different ways to make that process (pay the mortgage) happen for us to decrease our income, but not kill our joy. – Andy Hill
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