What It Takes To Be A Millionaire: 3 Principles to Becoming Rich

24/12/2024 39 min Temporada 2 Episodio 10
What It Takes To Be A Millionaire: 3 Principles to Becoming Rich

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Episode Synopsis

Send us a textTo see if you're a fit for Shawn's exclusive Generational Wealth Framework for PMC owner's program: Schedule hereMastering Mindset and Financial Discipline for Wealth BuildingA dive into essential principles for building and maintaining wealth. They discuss the importance of reshaping mindset, setting clear financial goals, and the power of compounding interest. They also cover strategies for reducing expenses, increasing income streams, and disciplined spending habits. The conversation highlights the balance between leveraging pain and pleasure for motivation and the importance of long-term financial planning.00:00 Introduction to Mindset and Wealth00:34 Welcome to the Entrepreneurial Journey01:06 Defining Riches vs Wealth01:34 Setting Clear Financial Goals01:51 The Power of Vision Boards03:53 Emotional Attachment to Goals06:38 Adopting a Wealth Mindset11:28 The Power of Compounding Interest17:42 Planning for Retirement in Your Fifties18:14 The Importance of Investing Now18:43 Maximizing Income and Reducing Expenses19:59 The Cost of Living and Financial Discipline21:45 Leveraging Skills and Career Growth27:45 Living Below Your Means32:26 Pain and Pleasure as Motivators35:24 Conclusion and Future TopicsPlease rate the podcast!Shawn's Newsletter: https://shawnaustinjohnson.beehiiv.com/Follow Shawn:X: https://x.com/shawnAJohnsonX Website: https://www.shawnaustinjohnson.com/YouTube: https://www.youtube.com/@shawnaustinjohnson Instagram: https://www.instagram.com/shawnaustinjohnson/ TikTok: https://www.tiktok.com/@shawnaustinjohnson