AIE 129: The Easy Way to Get Wealthy with the Wealth Dad
Adulting Is Easy: Making Personal Finance & Real Estate Easy
English - June 06, 2023 11:00 - 37 minutes - 34.9 MB - ★★★★ - 7 ratingsSelf-Improvement Education Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Sean got into personal finance when a boss told him to focus on his retirement. Even though he was just out of college, he listened! He and his wife have been invested every 2 weeks for almost 9 years. They’re more than set for retirement at this point. Lauren and Sean talked about maxing your match in your 401k vs maxing the match. The Wealth Dad broke down stocks, index funds, and ETFs, and why index funds are a great way to get rich and stay rich in the long term. He touched on meme stocks and the idea of “getting rich quickly.” The two agree that the max you should set aside in your portfolio for gambling and speculating is 10% (ideally less). Sean broke down his portfolio piece by piece and the breakdowns. Spoiler alert: the whole portfolio is in stocks right now, which makes sense for a 31-year-old. He recommends reading two books before you invest. Sean’s kids are very young, and he’s already investing for them. Naturally, Lauren asked about that and Sean gave his take on investing for his kids. What scares him the most for kids? It’s not college – it’s home prices! The idea is having your kids live a better quality of life than you did. It sounds like Sean had a great upbringing and he’s using that as a blueprint for his kids. He might hide the wealth though by keeping their townhome. Finally, Sean gave his thoughts on side hustling, with the goal of increasing disposable income. If you can do what others are unwilling to do for a few years, you’ll live how others can’t in the near future.
About Sean:
Sean, the Wealth Dad. Sean is a husband, father of 2, and investor. He works a 9-5 and side hustles as well.
Books Mentioned:
Just Keep Buying
The Little Book of Common Sense Investing
Bogleheads Guide to Investing
Millionaire Next Door
The Simple Path to Wealth
Psychology of Money
Connect with Sean:
Twitter: https://twitter.com/thewealthdad
Instagram https://www.instagram.com/thewealthdad/
Sposored by: https://adultingiseasy.steadilypartner.com/
Donate to the show: https://cash.app/$AdultingIsEasy