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276: How to Build Wealth Outside of Your Business

Posted by Austin Brawner on November 3, 2020

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. 

Episode Highlights

  • 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:

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