Most entrepreneurs won’t reach that singular exit that retires them for life. So why is their strategy to build wealth rooted 100% in their business?
If you feel the urge to go all in and invest 100% in your business, you’re not alone. But spoiler alert: Running a business is hard and selling your business for enough to spend your retirement at the Four Seasons with a pina colada in hand is even harder.
In today’s episode, Andrew Foxwell and I talk about how entrepreneurs can build wealth outside of their business by focusing on three different buckets of investments, why a diversification strategy is something to consider, and how we are preparing for looming financial issues that are on many people’s minds.
- 5:25 Establishing what financial freedom looks like for you
- 8:29 The three buckets of investments
- 9:40 How Austin and his wife got into real estate investing
- 15:12 Austin and Andrew’s stock market strategy to build wealth
- 18:25 Protecting yourself from an inflation event
- 21:21 Views on cryptocurrency and how to create a hedge for yourself
- 23:26 Austin’s business strategy to build wealth
- 27:58 How to build a $100M asset without having a $100M business
- 30:05 Leveraging the skills you have to create outsized returns
- 33:18 The importance of having a net worth progress tracking system
Links and Resources:
- Factora Wealth
- I Will Teach You To Be Rich by Ramit Sethi
- Doing it Different Podcast 013: How To Take Charge of Your Personal Finances: An Interview With The Financial Guru Who Changed My Life
- Podcast 269: Essential Beliefs, Characteristics, And Habits Of 9-Figure Ecommerce Entrepreneurs
- Brand Growth Experts
- The Coalition
- Foxwell Digital
- @a_brawn on Twitter
- @andrewfoxwell on Twitter
- Review or subscribe on iTunes