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EP 22: The Misperception of Wealth

Jul 1, 2023

What does it take to be wealthy? While each person may have a different financial threshold in mind, most people have a similar mental picture of what wealthy looks like. They see a fancy home, nice cars, and lavish vacations enjoyed by someone who sold their company for a fortune or received a significant inheritance. This month we are discussing how most individuals have accumulated their wealth and how you can too! The research shows that most millionaires did not get lucky, strike it rich, or receive a substantial inheritance. They accumulated their wealth gradually over a long period of time. They lived on less than they earned, they saved consistently over time, and they let their investments ride regardless of market conditions. If you are interested in learning the simple and attainable strategies that others have used to create long-term wealth and how you can too, we think you will enjoy this episode. Thanks for listening! For more detail about building wealth, check out our blog post covering the same topic at https://pw-wm.com/learn/investing/the-misperception-of-wealth/

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For those who are interested in even more detail about building wealth, check out our blog post covering the same topic.

About The Podcast Hosts

Steve & Nathan

Steve and Nathan have a passion for teaching others about finances and how to build the financial independence that is achievable with the proper planning. In their roles at Prairiewood Wealth Management, both Nathan and Steve focus on providing comprehensive financial advice to ensure their clients have a coordinated plan that covers all aspects of their finances including their investments, insurance, estate plan, and charitable giving goals.

As Certified Public Accountants (CPAs), both Nathan and Steve believe that one of the most overlooked aspects of financial advice is the tax impacts that result. Accordingly, a core focus of the advice they give centers on integrating tax strategy into the overall financial advising process.

Steve and Nathan are excited to share their knowledge through this podcast as well as their blog with the goal of helping you effectively manage your family’s wealth and ensure you have a comprehensive and coordinated plan for your future.

About Steve & Nathan