How Do I Become a Millionaire in My 30’s?

Our question of the month comes in from Whitney from California:


Andy,

I’ve been enjoying your show for the past few months. Your message of financial empowerment is really motivating me lately to clean up my family’s debt and grow our wealth.

I have a question that I think could be fun for you and informative for me.

With all of the millionaires you’ve had on your show, what are the top three things you’ve learned so far? I’m in my early 30’s and I’d love to become a millionaire before I’m 40.

Keep up the excellent work on the podcast, Andy!

Whitney


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How to Become the Multi-Millionaire Next Door – with John from ESI Money

John from ESI Money joins me to talk us about how we can earn, save and invest our way to financial independence and millionaire status.

John is a former marketing executive, a real estate investor and now the owner of Rockstar Finance. He has built up his net worth to the multi-million dollar level through the principles we discuss on the show today.

He’s a family man too! John is a father of two and he’s been married to his wife for over 20 years.

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Do I Really Need a Financial Advisor? – with Joe Saul-Sehy

Taking advantage of the stock market is an incredible way to build wealth for your family. By investing in the market, you are forcing your money to work for you. Your money starts to make you more money!

But … Where do we start?

Can we do this ourselves?

Should we turn to a financial advisor?

How do I know a good advisor from one that’s just trying to sell me financial products that only benefit them?

Our guest today, Joe Saul-Sehy is going to help us with this exact conundrum.

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How to Achieve Financial Independence and Retire Early – with Deacon Hayes

Financial independence and early retirement are huge accomplishments. Like running a marathon, becoming debt free or losing 100 pounds, they require focus, patience and a whole lot of perseverance.

This monumental financial status allows you the freedom to do what you want when you want and have the location independence you desire.

Author Deacon Hayes joins me today to talk about his new book, You Can Retire Early! We’re gonna review the ins and outs of how each and every one of us has the opportunity win at the game of early retirement.

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Financial Peace University – Why I Coach It (Even Though I Don’t Believe in All of Dave Ramsey’s Principles)

When Nicole and I got married, we were young, in love and … in debt.

I had a luxury lease car, a mortgage balance more than the value of my home and nearly $30,000 in student loans.

Nicole only had a $20,000 car loan. Yeah, I married up.

Needless to say, we were prime candidates for Financial Peace University (FPU). This course was developed by Dave Ramsey, the best-selling author of the Total Money Makeover. The goal of FPU is to learn how to “dump debt, budget, build wealth and give like never before.”

Dave’s book, the course and daily radio show encouraged Nicole and I to live on a monthly budget for the last 7 years, pay off all of our debt and even eliminate our mortgage by age 35.

I’m very grateful for everything I learned from Dave and his team. For that reason, I wanted to give back and pay it forward to others by coordinating Financial Peace University classes … even though I didn’t exactly agree with all of Dave’s teachings.

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Why I Did A 401k Rollover After Leaving My Job (and How I Did It)

In 2014, my wife Nicole and I both started new careers. She moved from corporate recruiting into the role of Stay-at-Home Mom when our son Calvin was born. I moved to a new marketing agency to advance my career in account management.

After Nicole and I partnered together to pay off all of our debt, this single income life was something we were prepared for. It wasn’t an easy financial change, but it was completely worth it in our opinion.

With those new role changes we not only left old jobs behind, but we also left old 401k accounts behind as well. Since we both had been at our previous jobs for a while, the idea of rolling over our 401k accounts was new to us. We heard that we were definitely “supposed to” do the rollover immediately, but we didn’t really know why.

Following the “supposed to” advice, I decided to move forward with rolling over both of our 401k accounts into IRAs.

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How Do I Find the Best Financial Advisor?

Our question of the month comes in from Ryan from Pittsburgh. He wants to know how to find the best financial advisor:


Ryan:

Hey Andy,

I’ve been listening to your show for the past few months. I like the way that you and Nicole partner together to meet your financial goals. It’s inspiring me and my wife (who is also coincidently also named Nicole) to do the same.

We’ve been following the Dave Ramsey baby steps and recently paid off our last debt. When we got focused, it really only took us about 2 years to pay off our $60,000 in debt. We both had car loans, student loans and a little bit of credit card debt.

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How to Increase Your Net Worth by $700,000 in 7 Years

One fall night in 2010, my wife Nicole and I were watching the Suze Orman Show. (Yes, I used to DVR it). There was this fun segment where someone would call in and Suze would analyze that person’s financial health and give them a grade. It was called How Am I Doing?

One term that we kept seeing over and over again on this segment was “Net Worth”. Since we were personal finance newbies, we had no idea what this meant. Nicole and I were making a combined six-figure income together so we figured our net worth must be HUGE.

After the show was over, we decided to see how rich we really were. There was no doubt in our mind that we’d be better off than most of the jokers that call in to the show and get an “F” grade from Suze!

via GIPHY

We walked upstairs and started to write down all of our numbers on a big white board. By separating our “assets” (what we owned) and our liabilities (what we owed) into two big columns, we started to discover that we weren’t rich.

We were kinda broke.

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10 Personal Finance Goals To Help Your Family Build Wealth This Year

Happy New Year everyone! This is the time for declaring new goals, adventures and accomplishments. 

Over the past few years, I’ve been setting personal goals for myself in all areas of my life. This way I am constantly striving to give myself and my family the best life possible.

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Financial Independence through Real Estate – with Paula Pant

Now that Nicole and I are mortgage free, we’re moving onto our next big financial challenge:  Buy-and-Hold Rental Real Estate.

Over the past year, I’ve been doing my best to educate myself in real estate by reading books and blogs and listening to podcasts on my daily commute. One of the podcasts I’ve been enjoying a lot is called Afford Anything hosted by Paula Pant.

Paula is a real estate expert. She’s built an incredibly comfortable life for herself and her husband with 7 buy-and-hold rental units. They spend an average of about 1 hour per week managing the properties and they make an impressive income.

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