Ritter on Real Estate Building Wealth Without Wallstreet with Joey Mure and Russ Morgan
A large section of the population has bought into the idea that the best and safest way to prepare for retirement is by setting up a 401k and leaving it to accrue over time. Joey Mure and Russ Morgan are on the show to dispel this and other myths that they argue make up the 'Wall Street mindset', and share some healthier strategies for setting yourself up for a wealthy and secure future. The basis for their philosophy comes from the idea of responsibility and self-belief; they argue that by outsourcing the control of your savings and financial plan, you shortchange yourself, the results of which will be dramatically evident down the road. Our guests talk about the simple nature of the formula for a better strategy but importantly do not shy away from the fact that it will take some dedication and hard work. They really drive home the idea of education and investment in the self and show how these steps are the best way to a brighter future for you and your family. We also get into the topic of debt, and Joey and Russ share some balanced opinions about this divisive area, which may lead you to reconsider what you have been told! So for all this and a whole lot more from two inspiring and progressive financial minds, be sure to listen in!
Key Points From This Episode:
- Our guests' professional journeys and how they arrived at their current philosophy.
- Unpacking the 'Wall Street mindset' and how it contrasts with the approach espoused by Russ and Joey.
- Getting clear and honest about what we really want instead of listening to brokers.
- Joey and Russ' opinion on the way 401ks have been falsely advertised as protective.
- Taking control of our savings and retirement planning instead of outsourcing it.
- The reality of the results of relying on a 401k for savings and retirement preparation.
- The three-step process of financial freedom and the formula to follow to secure your future.
- Weighing the role of debt in a good financial plan.
- The beginnings of a journey towards greater cashflow and security.
- Why an active approach to investing in oneself is vital to your finances in the long run.
- The 'keys to success' with Joey and Russ! Questions to ask, achievements, books, and more!
- A special offer from our guests and how to find and connect with them online.
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Production by Outlier Audio