The Wealth Game: Getting to First

I vividly remember playing baseball while I was growing up. I remember hitting the ball, running the bases, and hearing the fans go crazy. And, of course, there’s my dad on the sideline, jumping up and down, pumping his chest like a peacock, and shouting that he’s proud of me. The wealth game can have the same effects on our lives if we play it correctly—moving from home plate to first base, then setting our eyes to second.

In this episode, I discuss what it takes to move from home plate to first base. I describe the first base of the wealth game. I explain why many people get trapped in this first stage and outline how to avoid it. I discuss what a “lead-off” means in baseball and how it applies to the game of wealth. I also underscore the power of our aspirations.

 

“The game of wealth is super easy. Turn at first base and look at second; keep the destination in mind; don’t get sidetracked by the allures of a company. Focus on what matters most: second base.” - Justin Goodbread

 

This week on the Financially Simple Experience:

• The inequality of life and the goal of the first base of the wealth game
• How lifestyle choices can get people trapped in first base
• Avoiding the trappings of the first base and the value of getting a coach
• What a “lead-off” means in baseball
• Taking a lead-off from the wealth game’s first base
• Reviewing the rules of the wealth game

 

Resources Mentioned:

• Book: Cashflow Quadrant: Rich Dad’s Guide to Financial Freedom by Robert Kiyosaki

 

Our Favorite Quotes:

• “In the game of wealth, our desire is to turn first base and head towards second as rapidly as possible.” - Justin Goodbread
• “It doesn’t matter what income you make–what matters are your aspirations and visions.” - Justin Goodbread
• “The lifestyles we choose at first base is the single detriment, the single deterrent, the single determinant for us reaching second base.” - Justin Goodbread

 

About The Financially Simple Podcast If you are looking for a podcast that speaks directly to the challenges and puzzles of running a business, you’ve come to the right place. The Financially Simple podcast was built for you. With over 400 episodes and counting, our host Justin Goodbread covers a broad range of topics, from starting a small business, to prepping it for sale, to growing your personal wealth. Justin’s combination of analytical skills, tough love, and a healthy dose of experience delivers practical ideas that will benefit business builders at every stage of their business journey. 

If you have questions, or comments for Justin, submit those at: https://financiallysimple.com/ask-justin/ Connect with Justin: Financially Simple newsletter Facebook LinkedIn Twitter Subscribe Here: Apple Podcast Spotify Google Podcast iHeart Radio Stitcher

 

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Financially Simple is a division of WealthSource Partners, LLC (“WSP”), which offers investment advisory and financial planning services. All investing involves risk of loss, including the possible loss of principal. Past performance does not guarantee future results and nothing in this podcast should be construed as a guarantee of any specific outcome or profit. All market indices discussed are unmanaged, do not incur management fees, costs and expenses, and cannot be invested into directly. Business planning services offered by WealthSource Business Advisors, LLC (“WBA”).

 

This podcast is distributed for informational purposes only. The content of this podcast represents the views and opinions of Justin Goodbread and/or the podcast’s guests and do not necessarily represent the views and/or opinions of WBA, WSP or their affiliates or representatives. Statements made in this podcast are subject to change without notice. Neither WBA, WSP or their representatives, the podcast’s hosts or its guests have an obligation to provide revised statements in the event of changed circumstances. Statements made in the podcast are not to be construed as legal or accounting advice or as personalized advice of any nature. Listeners should conduct their own review of any statements made or strategies discussed and exercise judgment or consult with their own professional advisor to see how the information contained in this podcast may apply to their own circumstances.