#38: Financial Discipline and the Road to Millionaire Status

Next Level Pros

Sep 28, 2023•31 min•Transcript available on Metacast

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Episode description

In this episode of The Founder Podcast with Chris Lee, Chris shares his personal journey to becoming a millionaire by the age of 33, long before his massive success with his business.

He delves into financial strategies and principles that helped him achieve this milestone. Chris emphasizes the importance of discipline, delayed gratification, and smart financial choices, including leveraging real estate as a wealth-building tool.

He breaks down the five ways to make money in real estate, from cash flow to principal buydown, depreciation, interest savings, and appreciation.

Tune in for valuable insights on building wealth and achieving financial freedom!

HIGHLIGHTS

"You only buy luxuries with Level Three income... A luxury is something you don't need to survive."

"Always look for opportunities to experience pain and discipline in the moment because when you do so, I promise you the real fruit is so much sweeter."

"Your personal home is not an asset... It's got to be viewed as a money pit."

TIMESTAMPS

00:00: Introduction

04:37: Smart Financial Habits

09:46: Saving & Investing

14:29: Real Estate Investments

19:08: Strategies & Returns

24:05: Tax Savings

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