The Ecommerce Influence Podcast

The reality is most entrepreneurs won't reach the singular exit that retires them for life. So why is their strategy to build wealth rooted 100% in their business?

It's common for entrepreneurs to feel the urge to go all in and invest 100% in their business. 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

  • 6:27 Establishing what financial freedom looks like for you
  • 9:27 The three buckets of investments
  • 10:38 How Austin and his wife got into real estate investing
  • 16:08 Austin and Andrew's stock market strategy to build wealth
  • 19:18 Protecting yourself from an inflation event
  • 22:09 Views on cryptocurrency and how to create a hedge for yourself
  • 24:12 Austin's business strategy to build wealth
  • 2840 How to build a $100M asset without having a $100M business
  • 30:48 Leveraging the skills you have to create outsized returns
  • 34:04 The importance of having a net worth progress tracking system

Links and Resources:

Direct download: EI_276_BuildingWealth_Postscript.mp3
Category:general -- posted at: 3:00am CDT