The Growth Guide: Self-Improvement | Greatness | Impact | Creators | FI |

Your Path from Zero to Millionaire with Brian Preston

Sep 3, 2024

Brian Preston, a CPA, CFP®, and author of "Millionaire Mission," shares his wealth-building expertise. He introduces a nine-step system and discusses the five levels of wealth, emphasizing the crucial mindset for financial success. Brian explains the difference between being rich and wealthy, advocating for a balanced approach to saving and enjoying life. He also highlights the importance of teaching children about money and the impact of investments and savings on long-term financial independence.

01:12:00

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Brian Preston

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Quick takeaways

Brian Preston emphasizes the importance of starting early with small savings to leverage compounding growth for significant wealth accumulation.

The financial order of operations provides a structured approach to prioritize financial decisions, ensuring fundamental aspects are addressed before long-term investments.

Recognizing the difference between being rich and being wealthy is vital for fostering sustainable financial habits that lead to true financial freedom.

Deep dives

The Power of Compounding Growth

The importance of compounding growth in wealth accumulation is emphasized through an anecdote about Mr. Morrow, a teacher who advised students to save $100 a month to become millionaires by retirement age. This concept highlights how starting early with small amounts can lead to significant financial outcomes by harnessing the power of time and investment. The podcast reinforces that understanding the potential future value of every dollar—not merely viewing it as a unit of currency—can change one's spending habits and foster a more intentional financial strategy. By quantifying what each dollar could grow into over time, individuals can shift their perspective on budgeting and make more informed financial decisions.

Intro

2min

The Transformative Lesson of Financial Empowerment

3min

Harnessing Your Wealth: The Army of Dollars Concept

2min

Strategies for Wealth Building: Valuing Time and Money

3min

Navigating Your Financial Journey: The Order of Operations

5min

Embracing the Financial Mutant Within

2min

Keys to Financial Independence: Savings Rates and Delayed Gratification

4min

Navigating Wealth: Beyond Money

25min

The Debt Dilemma: Navigating Financial Responsibilities

24min

10.

Engaging Financial Literature: A Unique Blend of Storytelling and Data

2min

Today, we have Brian Preston on the podcast. Brian Preston, (CPA, CFP®, PFS) is the author of Millionaire Mission and Founder & Host of The Money Guy Show.

Brian lays out a nine-step system for building wealth with the money you already have in his new book: Millionaire Mission.

We cover the five levels of wealth, financial order of operations, and the mindset needed for wealth building. Brian also discusses the importance of balancing savings and enjoying life, understanding the difference between being rich and being wealthy, and the impact of savings and investing on one's financial journey.

I really enjoyed this conversation with Brian, and I hope you do too.

Timestamps:

[1:56} The Influence of Mr. Morrow: The Morrow moment, a pivotal event that changed Brian’s financial journey.

[4:14] “Army of Dollars”: the idea of an "army of dollars" working for you while you sleep.

[9:07] Financial Order of Operations: A step-by-step guide for managing money.

[13:12] Cash and Retirement Accounts: Important of having emergency reserves and having retirement accounts.

[16:37] Being Rich vs. Wealthy: Brian explains the difference between being rich and being wealthy.

[33:45] Teaching Children About Money: Brian shares his approach to teaching his daughter about money and savings.

[52:37} Financial Independence: Brian shares his journey to financial independence, starting with small investments in his 20s.

[56:59] The Five Levels of Wealth: Stability, strategy, security, freedom, and abundance.

[1:02:49] Maintaining Financial Discipline: Brian emphasizes the need for regular measurements and success indicators.

Connect with Brian Preston

Website – https://moneyguy.com/

Instagram – https://www.instagram.com/moneyguyshow/

Twitter – https://x.com/moneyguyshow

LinkedIn – https://www.linkedin.com/in/moneyguy/

TikTok – https://www.tiktok.com/@moneyguyshow

YouTube – https://www.youtube.com/@MoneyGuyShow

Book by Brian Preston:

Millionaire Mission: A 9-Step System to Level Up Your Finances and Build Wealth

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The Growth Guide: Self-Improvement | Greatness | Impact | Creators | FI |

Your Path from Zero to Millionaire with Brian Preston

Episode guests