The Rich Somers Report 9 Money Myths That Keep People Broke | Garrett Gunderson E453
Jan 22, 2026
Garrett Gunderson, a financial consultant and New York Times bestselling author, unveils nine money myths that keep people financially stagnant. He challenges common beliefs about saving versus investing and reveals how consumer debt can be leveraged for growth. Discussions spotlight the flawed finance education system and the missed opportunities in traditional retirement strategies. With insights on aligning values with financial decisions, Garrett inspires listeners to rethink their approach and cultivate a wealth mindset.
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Wealth Comes From Value Creation
- Wealth multiplies through exchange and creating value, not by hoarding a 'finite pie'.
- Financial independence lets active income buy assets that accelerate wealth creation.
Leverage Trumps Lone Effort
- Leverage is a core differentiator: other people's money, time, and ability create scale.
- Teaching avoids leverage and thus keeps most people limited to trading time for money.
Use Debt Strategically, Not Fearfully
- Avoid treating interest as only a cost; consider opportunity cost of using cash versus borrowing.
- Use low‑cost debt to deploy capital into higher-return assets when the math and risk align.
