10 Wealth Building Principles – Wealthsteading Podcast

Episode 500 Celebrating the 500 th episode of the Wealthsteading Podcast, this is the original 10 Wealth Building Principles, first recorded on Independence Day 2014.  Sign up for free ALERTs & Market Commentary at:  https://www.investablewealth.com/subscribe/ ——————————————————

We conclude our series on the wealth building principles with #10:   Wealth is a lifestyle The pursuit of wealth is multifaceted, it’s not just one dimensional.  You can’t just work one element and expect to become financially independent. A large bank account doesn’t make you wealthy- consider the lottery winner, they don’t have the discipline to manage...

We continue our series on the 10 wealth building principles by discussing #9:   Be a giver To be truly wealthy, you need to have both monetary capital and social capital.  You build both by being a GIVER . As an employee or an entrepreneur you maintain your edge by producing above your compensation- you provide a service or product that is valued by the customer. Social capital is b...

We continue our series on the 10 wealth building principles by discussing #8:   Decrypt Propaganda Treat all news and information as propaganda.  Everyone is trying to sell you something…business, government, acquaintances, they all want something from you.  Learn to see through the lies and misinformation.  They’re messaging to you, trying to spin reality and...

In this episode we discuss the 7th wealth building principle:   Profit from nature This may sound redundant since we covered profiting from Trends in the previous episode- but it’s actually quite different.  Consider how the study of economics is broken down into micro and macro.  I consider Trends and Nature in a similar manner. Forces of nature cause events.  Events cau...

In this episode we discuss the 6th wealth building principle:   Profit from trends Trend trading goes against the conventional wisdom of buying and holding stocks.  I personally believe, based on my own history that buy & hold is a myth.  Why suffer through an inevitable market downtrend?  The dotcom bubble of 2000, the housing bubble of 2008…another bear market...

Continuing our 10 part series we discuss wealth building principle #5:    Embrace Technology & Innovation Don’t fear change.  Don’t be propagandized into maintaining the status quo.  The entrenched establishment will always try to hold onto their power and position.  They’ll fight to the end.  But ultimately innovation always wins out.  Gove...

We continue our 10 part series with this episode on the 4th wealth building principle:   Identify Value Becoming financially independent requires wisdom and maturity.  A key component is the ability to identify value.  And it all starts with recognizing value in people (i.e. character ). We discuss identifying value in:  People, Opportunity, Property, and Stocks.  Sub...

Explanation of the third wealth building principle:   Production is the source of wealth You don’t get wealthy by simply earning a salary or being an employee.  You need to take on the role of entrepreneur and investor. We discuss the three phases: Apprentice, Business Model, & Investment Income Subscribe to the Wealthsteading Podcast via  iTunes :   https://itun...

In this episode we discuss the second wealth building principle:  Live Debt Free   It doesn’t matter how much you earn, wealth is determined by how much you SAVE. Saving can only occur when you break the consumerism addiction and learn to live a thrifty debt free lifestyle. Subscribe to the Wealthsteading Podcast via  iTunes :   https://itunes.apple.com/us/podcast/wealths...

In this   inaugural episode we introduce the first of 10 wealth building principles:   Wealth is freedom Do you think having wealth is about having a lot of money?  Think again.  Wealth is freedom.  Building wealth is not about accumulating money, it’s about creating a lifestyle that affords you freedom and liberty. The good news is that you can attain it and th...