The Most Important Factors to Building Wealth?

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Doris Johnson: I was drawn to your approach because it is different than what most people do. You teach clients how to improve their financial circumstances. And they're kind of, I guess, two schools of thoughts of how to do that. Can you talk a bit about what you think are the most important factors to building wealth? Ramsey: It comes down to three things and it's earn, save, and best.

IN THIS EPISODE, YOU’LL LEARN:

05:21 - What are the most important factors to building wealth?
05:21 - How much of your income should you be saving?
10:36 - Why Jerry prefers investments that generate passive income versus capital appreciation.
13:36 - Should Millennials pay off their debt before investing?
16:27 - What type of policy, agent and life insurance company Jerry recommends.
26:29 - How to “become your own bank” and use life insurance to build substantial wealth.
26:29 - How you can use life insurance to pay down your debt and save more money.
27:49 - How to use life insurance as an investment tool by borrowing against your policy.
41:21 -Why Jerry doesn’t invest in the stock market and what he prefers to invest in.
45:28 - How Jerry uses gold as an investment and borrows against it to build wealth.
And much, much more!

*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.

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Related Episode: Tax-Advantaged Investing w/ Brian Martucci - MI220.
Related Episode: Building Wealth, Staying Wealthy, and Retiring Early w/ Jeremy Schneider - MI053.

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