In this episode, Brian Skrobonja breaks down a simple framework everyone can follow to build and multiply wealth. He sheds light on what most people get wrong about wealth building, the benefits of having multiple appreciating assets, and how wealthy people use other people’s money to build wealth. Brian goes over a simple framework for multiplying and sustaining wealth--the same framework he uses to build and scale his business.Brian reveals the rhythm to building wealth: Accumulate money, build assets, create passive income, then repeat.Brian breaks down the two main schools of thought about money: Lateral compounding growth and exponential growth through multiplication. The sooner you understand the differences, the faster you can choose your path and move forward.Brian uses the financial journeys of two fictional characters, Mark and Luke, to explain what people get wrong about building wealth.Mark adheres to a traditional approach to money focusing on compounding while Luke employs an out-of-the-box strategy emphasizing multiplication to build his wealth.While Mark’s strategy relies on steady growth through compounding, Luke’s multiplication strategy demonstrates the potential of using real assets to create wealth.According to Brian, investing is all about taking advantage of opportunities as they are presented.Brian emphasizes the benefits of having multiple appreciating assets and how to use them to generate passive income in retirement.What everybody needs to understand about real estate: the value of a house will always appreciate regardless of whether it has a mortgage.The loan has nothing to do with the house’s value or the asset’s appreciation. The house is an asset and will appreciate the same whether it has a loan or not.Brian reveals how the wealthiest people in the world use other people’s money to build and multiply their wealth.Brian talks about the benefits of recognizing that things need to change. The sooner you recognize that things need to change, the faster you can begin to forge that new path.The benefit of learning from other people’s experiences and avoiding the mistakes they made.Without knowing how to use what you’ve learned effectively, it amounts to nothing more than dinner conversation.For Brian, successful people are consistently successful because they are eager to learn and have a true desire to uncover their own blindspots.Always remember that there are inherent risks with all types of investing. Mentioned in this episode: BrianSkrobonja.com SkrobonjaFinancial.com SkrobonjaWealth.com BUILDbanking.com Common Sense Financial Podcast on YouTube Common Sense Financial Podcast on Spotify Who Not How: The Formula to Achieve Bigger Goals Through Accelerating Teamwork by Dan Sullivan and Benjamin Hardy References for this episode: https://www.reddit.com/r/Bogleheads/comments/1bj16az/what_are_normal_stock_returns_ben_felix_over_the/?rdt=52271 https://www.investopedia.com/ask/answers/052015/which-has-performed-better-historically-stock-market-or-real-estate.asp https://skrobonjafinancialgroupllc.sharefile.com/public/share/web-s9eba7b5a422a4447ac6b5ffad96742ce Securities offered only by duly registered individuals through Madison Avenue Securities, LLC. (MAS), Member FINRA & SIPC. Advisory services offered only by duly registered individuals through Skrobonja Wealth Management (SWM), a registered investment advisor. Tax services offered only through Skrobonja Tax Consulting. MAS does not offer Build Banking or tax advice. Skrobonja Financial Group, LLC, Skrobonja Wealth Management, LLC, Skrobonja Insurance Services, LLC, Skrobonja Tax Consulting, and Build Banking are not affiliated with MAS. Skrobonja Wealth Management, LLC is a registered investment adviser. Advisory services are only offered to clients or prospective clients where Skrobonja Wealth Management, LLC and its representatives are properly licensed or exempt from licensure. The firm is a registered investment adviser with the state of Missouri, and may only transact business with residents of those states, or residents of other states where otherwise legally permitted subject to exemption or exclusion from registration requirements. Registration with the United States Securities and Exchange Commission or any state securities authority does not imply a certain level of skill or training. The views and opinions expressed here are those of the authors and do not necessarily reflect the official policy or position of Madison Avenue Securities, LLC This material contains forward looking statements. Forward looking statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Actual future results and trends may differ materially from what is forecast. Investing involves risk including the potential loss of principal. Consider your risk tolerance and specific situation before investing. Investments in securities are subject ...
