751 Become an Everyday Millionaire with Chris Hogan

Jan 28, 2019

Chris Hogan, a personal finance expert and bestselling author of Everyday Millionaires, discusses practical strategies for building wealth. He emphasizes living debt-free and investing wisely over time. Hogan debunks myths about millionaires, revealing that many are made through disciplined habits rather than inheritance. He shares insights on the importance of emotional resilience, mentorship, and making intentional financial choices. Ultimately, he believes anyone can achieve millionaire status with the right mindset and practices.

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INSIGHT

Millionaires Are Ordinary Wealth Builders

Most millionaires are first-generation wealth builders who accumulated money over decades, not inheritances or lotteries.
Many built wealth while never earning six-figure annual salaries by living below their means and investing consistently.

INSIGHT

Jobs That Favor Long-Term Wealth

The most common professions among everyday millionaires were engineer, accountant, and teacher.
Long-term planning, organization, and steady savings matter more than high income for wealth building.

ADVICE

Live Below Your Means And Automate Investing

Live on less than you make and automate investing to let time and compound interest grow your money.
Avoid carrying credit card debt and treat interest paid as a penalty while interest earned is your reward.

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THE AMERICAN DREAM I NOT DEAD.
We are conditioned to spend money.
We think, “I’ll just get a credit card. I’ll just get a loan. I’ll just pay for it later.”
Advertisements tell us to spend, spend, spend.
What if, instead, you became allergic to debt.
I’m lucky that my father taught me the importance of savings and investing. But I see so many of my friends spend all of their paychecks.
On today’s episode of The School of Greatness, I talk about growing wealth with a personal finance expert: Chris Hogan.
Chris Hogan is a best-selling author and America’s leading voice on retirement, investing, and building wealth. His goal is to help as many people as possible avoid financial traps and set their families up for the future.
Along with speaking at events across the country, Chris works with business leaders, professional athletes, and entertainers to help them set goals and navigate their financial futures.
Chris says that to grow money you need time and compound interest.
He never buys anything that he can’t pay for in cash.
So get ready to learn how to build extraordinary wealth the slow and steady way on Episode 751.
Some Questions I Ask:
How do millionaires think differently than non-millionaires? (14:00)
How do you manage emotional challenges so they don’t affect your money? (16:00)
What’s the difference between getting rich and building wealth? (30:00)
How do we get people to be allergic to debt? (36:00)
What type of education should people be looking for right now? (40:00)
Do you recommend people get a side hustle? (54:00)
Should you do a prenup when you get married? (58:00)
In This Episode You Will Learn:
How Chris started working with Dave Ramsey (9:00)
Two myths about millionaires (12:00)
Top three positions of the millionaires Chris studied (13:00)
The four people everyone needs in their life (14:00)
Chris’ thoughts on cryptocurrencies (26:00)
Why automatic investing is the best method for saving (40:00)
The four D’s to partnerships (56:00)

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