Money Guy Show 3 Phases of Wealth Building by Age (Where Are You?)
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Jun 20, 2025 The hosts break down the three phases of financial growth: Make, Maintain, and Multiply, tailored to different life stages. They discuss crucial practices for building wealth in your 20s and 30s, like disciplined saving and leveraging employer retirement matches. As one approaches retirement, strategies shift to include wealth preservation and assessing financial status. The importance of defensive planning, including insurance and estate planning, is highlighted, along with the significance of generosity and meaningful experiences during retirement.
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Focus on Maintenance Early
- Prioritize maintaining wealth early in your career to avoid catastrophic financial mistakes.
- Focus on living below your means, avoiding high-interest debt, and getting appropriate insurance coverage.
Non-linear Wealth Phases
- Wealth building phases overlap and are not strictly linear.
- You focus differently on making, maintaining, and multiplying wealth depending on your life stage.
Invest Early and Match Employer
- Start investing early, even if only a small amount, to leverage compounding growth.
- Take advantage of employer matching contributions to maximize benefits without extra effort.