104 Beyond Your Wedding Day Podcast-Have Fun, Invest, and Give Money Away

by mike on January 1, 2013

104 Beyond Your Wedding Day Podcast-Have Fun, Invest, and Give Money Away

Click Play Below

Audio clip: Adobe Flash Player (version 9 or above) is required to play this audio clip. Download the latest version here. You also need to have JavaScript enabled in your browser.

In this episode of the Beyond Your Wedding Day Podcast, we discuss the Total Money Makeover by Dave Ramsey.  We take a look at Chapter 12: “Build Wealth Like Crazy.”

2 Ways to contact us and get your question answered on the show: www.mikeyoungcoach.com/feedback

Call us at: 847-780-6632

*The seventh baby step is to build wealth

-If you haven’t figured out why you want to build wealth, now is the time

-Wealth does not solve all of your problems, in fact it comes with huge responsibility!

*The three main things to do with money is to have fun, invest, and give!

*It is ok to have fun with money when you can afford to

-You’ve been telling yourself for years that if you just sacrifice, it will be so much fun at the end.  Well, you’re at the end, so have fun!

-This can be hard to get used to when you have been sacrificing for so long

-Buy a new car, take your entire extended family on a 7 day cruise, buy a Harley.

-If you can do any of these things and your money position is barely affected, then go for it!

*Keep winning by investing

-Keep your investing simple, especially until you have over $10 million

-Stick with the growth stock mutual funds and PAID FOR real estate

-Surround yourself with great counsel: people that are smarter than you and can explain things to you easily.

-You ultimately make the decisions, do not do a deal just because one of your advisers says so!

-Your team should include an estate-planning attorney, a CPA or tax expert, an insurance pro, an investment pro, and a good realtor at least

-Make sure the people on your team have the heart of a teacher

-Eventually, you will reach the glorious Pinnacle Point where your money is working harder than you do

*Giving is the most fun of all!

-Margaret Thatcher: “No one would have remembered the good Samaritan if he hadn’t had money”

-“Money gives power to good intentions”

-This is what gives Mandy and I the most motivation to do well with our money!

*If you follow the Total Money Makeover plan, you will become wealthy someday.

-The key is to not start worshiping money

-You have to be especially careful with your children.  They can actually be at a severe disadvantage in life growing up affluent: especially character-wise

Would you like to work with Mandy and Mike one on one?  Check out the Beyond Your Wedding Day Marriage Prep Course.

Right-Click Here to Download the Show

Leave a review in itunes

Previous post:

Next post: