Want to be rich? Don’t save money…
November 19, 2023
In this episode of Money Grows On Trees: The Podcast, your host The Millionaire Money Mentor, Lloyd Ross, explores a provocative statement: "If you want to be rich, don't save money."
Lloyd delves into the idea that money is best used when it is deployed, rather than being hoarded. He emphasizes the importance of having a plan for your money and investing it in income-producing assets or growing your own business.
Lloyd challenges the notion that saving money alone will lead to wealth, highlighting the negative impact of inflation on stagnant savings. Tune in to discover the secrets of financial success and learn why spending strategically is the key to building wealth.
You won't want to miss this thought-provoking episode of Money Grows On Trees: The Podcast.
Money Grows on Trees Team
In this episode of Money Grows On Trees: The Podcast, your host The Millionaire Money Mentor, Lloyd Ross, explores a provocative statement: "If you want to be rich, don't save money."
Lloyd delves into the idea that money is best used when it is deployed, rather than being hoarded. He emphasizes the importance of having a plan for your money and investing it in income-producing assets or growing your own business.
Lloyd challenges the notion that saving money alone will lead to wealth, highlighting the negative impact of inflation on stagnant savings. Tune in to discover the secrets of financial success and learn why spending strategically is the key to building wealth.
You won't want to miss this thought-provoking episode of Money Grows On Trees: The Podcast.
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In his early 20s, Lloyd picked up a book called “The Snowball” a comprehensive biography about Warren Buffet, arguably the world’s greatest investor of all time and one of the wealthiest on the planet.
He bought his first stock at age 25 and by the age of 37, Lloyd achieved his first major financial goal of a Million Dollar portfolio, without ever using debt.
He also bought a book called "Rich Dad Poor Dad" which helped him, his wife and his older sister start a side hustle, where they now teach people how to plant their Money Tree. A few months after hitting his first goal his side hustle generates over 7 figures in revenue and now he is looking to create another Million Dollar business.
Join, Lloyd on his journey to help everyday people reach their financial goals, by reading his books at www.moneybuyshappinessbook.com.
Join his Weekly Newsletter: https://bit.ly/3lHzsYs
Join Lloyd’s Telegram: www.lloydstellegram.com
Leave a review and get a shoutout on the podcast: https://open.spotify.com/show/6pfOdzx9NCkDB287546c3r?si=813a418e449c444d
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The material in this publication is of the nature of general comment only and does not represent professional advice. The author does not hold an Australian Financial Services License and is not licensed to provide financial advice. As such, this material is not intended to provide specific guidance for particular circumstances. It should not be relied on as the basis for any decision to take action or not take action on any matter it covers. Listeners should obtain professional advice where appropriate, before making any such decision. To the maximum extent permitted by law, the author and publisher disclaim all responsibility and liability to any person, arising directly or indirectly from any person taking or not taking action based on the information in this publication.
This podcast is produced by: Phil Better Inc.