276: How to Build Wealth Outside of Your Business

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build wealth

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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