Wealth building is a journey that requires patience and consistency. That’s not the popular opinion in social media land but it is the only time-tested way to build sustainable wealth.
In this week’s episode, I am going to debunk 3 common wealth-building myths that are popular online but are problematic for anyone looking to start building wealth for their families.
I’m going into three wealth-building myths that you may have heard and why as wealth creators we should be aware of the implications.
- Life Insurance as a Wealth-Building Strategy
- Overleveraging Debt
- Building Wealth Overnight
Let’s be intentional wealth builders who take the time to do our research and educate ourselves and the next generation. That is the only way we will be able to build lasting wealth.
The road to wealth is worthwhile with every lesson that you learn along the way. Choose mentors wisely, but verify every lesson. You’ll get there slow and steady, Dreamers!
Dreamers' Wealth of Wisdom
- Overleveraging debt is just too dangerous and is not the best way for you to build wealth unless you're willing to lose everything.
- Invest in things that grow in value.
- You can earn a lot of money fast, but that doesn't mean that you build wealth because wealth comes with habits.
- You have to invest in your education, learn, and apply so that you can continuously invest.
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