When a bunch of people who started with nothing and are now millionaires come together, what do they talk about? They actually talk about some surprisingly basic life and money insights. Here are just a few interesting things that came out of a conversation I recently had with a group of successful millionaires.
What do millionaires talk about offline when they get together? Do they plot to take over the world and keep everyone down? That's the perception but that's not really what happens. I get together occasionally with this group of successful people everyone's pretty much got a similar background. We all started from nothing and then here's what we did to build wealth over a period of time. It's not a chest puffery type of thing we're talking about best practices. A lot of interesting things come out from those conversations. Everyone in this group is super cool because everyone has a heart to help other people in their situations wherever they happen to be and give advice so.
What Millionaires Talk About:
Knowing the important distinction between saving and investing. Basic stuff. Investing is how money grows. Investing is how your money makes you more money. Savings is just throwing some money in a bank account having to sit there look. But it doesn't grow and there's a very important distinction between the two.
Having more money is just more stuff you can do give or buy, but it is not happiness
Whatever you are when you're broke, when you have little , when you're poor you're going to be just more of that when you are wealthy
You're going to enjoy life now where you're at and then when good stuff happens later then you're gonna enjoy that just as much as well. If someone is a miserable human being now like a Scrooge they're gonna be a Scrooge with more wealth later on.
🎙Get the full episode here, which includes listener questions:
podcasts.apple.com/us/podcast/what-millionaires-ta…
Additional show topics:
How can I earn money for a car if I'm 12 years old (Alia, UK)
Should I pay down my house if I plan on moving in 5-10 years (Matt)
How I got my husband on board with the budget (Edwina)
What budgeting software do you recommend and why (Edith)
I'm getting evicted in two days, what should I do (Taylor, Ohio)
Scott's daughter joins the show to discuss loaning money
Use the Walmart app to help track your spending
Travel tip to save on cruise excursions
Red alert warning: Student loan scams
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ABOUT SCOTT
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Scott Alan Turner is the new and true voice on money in America. Scott is a former money moron, living the paycheck-to-paycheck lifestyle, losing $40k by following bad investing advice, and racking up a load of credit card debt. But by age 35, he turned it all around and became a self-made millionaire.
In a world of get-rich-quick schemes, biased advice, and financial pied pipers, Scott’s authentic, no-holds-bared approach makes it possible for anyone to absolutely rock their personal finances.
Scott is on a mad mission to help you get financial independence, ultimate happiness and a life full of awesome experiences. With his rebel style, off-beat humor, and signature life-on-your-own-terms approach, Scott’s inspiring a movement of Financial Rock Stars across the globe.
His podcast, The Scott Alan Turner Show, debuted at #1 on iTunes.
Meet him at ScottAlanTurner.co
Scott Alan Turner CFP