Franchise Euphoria How to Avoid Being a Money Moron with Scott Alan Turner
Scott Alan Turner is a financial rockstar who went from a “money moron,” at age 22, to a self-made millionaire just 13 years later. Scott is an early retiree who spends his time helping people get out of debt faster, save more money, and retire rich. He is the radio and podcast host of The Scott Alan Turner Show, and the bestselling author of a great book called The 99 Minute Millionaire. In that book, he goes through the process and steps of how you can get out of debt, make more money, and make it last. I’m really excited to welcome Scott on as our guest today, and I’m confident that you’ll learn a lot from our conversation.
Key Takeaways:
[2:07] Like most people, Scott came out of college with very little financial knowledge.
[3:16] Scott has owned eight companies over the past 15 years.
[5:45] Scott used to work evenings and weekends on his “side-hustle.”
[7:08] Scott finds it very rewarding to help others find financial freedom.
[8:05] People kept asking Scott how to get started investing, so he wrote a book and started a podcast to teach about compound interest.
[9:04] How did Scott decide on the title of his book?
[9:49] Have at least six months worth of savings.
[12:11] The number one reason that small businesses fail is lack of capital.
[12:45] A lot of business owners make financial mistakes when they decide to grow.
[14:00] There is a healthy balance to be struck between limiting risk and leveraging debt.
[17:40] Scott takes questions via email, and answers them on his podcast.
[20:06] Decide on your long term goals, and work backward from there.
[21:10] Thanks again for listening, and please, reach out to Josh anytime through email at josh@indyfranchiselaw.com. If you enjoyed this interview, please leave us a review on iTunes.
Mentioned in This Episode: