Top Wealth-Building Strategies for $1,000,000+ Net Worth

Having $1,000,000 puts you in the top 12.5% of Americans. $1M may not be enough to retire for many people, but you can’t reach $10M without getting to $1M first. The trick moving forward is to not focus on changing your strategy, but instead continuing to do what made you successful and adding to it!

Bring confidence to your wealth building with simplified strategies from The Money Guy. Learn how to apply financial tactics that go beyond common sense and help you reach your money goals faster. Make your assets do the heavy lifting so you can quit worrying and start living a more fulfilled life.

[austinbar]

Making money should be a routine. The secret to making a million is making better investment. Invest judiciously, keep a stop loss figure. Shuffle between debt and equity wherever the ratio goes too off your target. As for the target, I recommend a Ratio like this Debt % should be equal to your age in years. If you are 20, debt is 20%, reset in equity. If the market falls or rises drastically, your debt % will change, which you should rebalance to 20% and bring back equity to 80%. Thus you would have bought low or booked profit depending on if it was a crash or a bull run.

[kortyEdna]

Really enjoyed this video. I'm considering your advice, because thousands of dollars have been disappearing from my 401k due to soaring inflation, and my concern is where to safeguard and grow remaining cash about $500k+ for the next 2-3 years at no risk. I'd love to retire early and afford a life after retirement.

[troyboulware]

There was a sentence in there that i believe i needed to hear. Something about once you start getting to your big number you were aspiring to don’t suddenly stop doing what was working and then make an aggressive/risky mistake.
We’ve put in time and have been trying to do it the “boring way” and it’s been working. But recently we had an opportunity to buy a rental property and it’s been going great. I’ve enjoyed it so much it’s made me start reading books and studying it more and wanting to possibly get another.
But Bo is right about sticking to what’s been working. I better not get “over my skis”

[worldview]

I am deeply and loving such content. Thank you so much for sharing.

[Jebidee]

net worth millionaire without counting primary residence, but not liquid millionaire? what does that mean?

[geovannyl.]

What happened with the 100k- 500k video?

[FunStuffBuddy]

The problem is to continue doing what is “low cost”… is no longer low cost when the adviser takes out 1.25% on top of the fund costs (which are hopefully low). Mathematically 1.25%…that’s 30% of all your gains/profits over 30 years!! You can make a lot of mistakes and still end up ahead when you do it yourself. Great advice but don’t need an adviser no matter your portfolio size.

[nathanclark]

I have a strictly employer funded pension, and as a result I can’t make decisions about the allocation. We get annual vested balances, diff from retirement projections at age 65. Is it Ok to include the pension’s vested balance in my net worth statement?

[Joenzinator]

Should get to the liquid million by 40, but we've been pouring $60k-$80k into investments every year. Maybe not right at $1M, but I think around then I'll put less into retirement accounts and more into brokerage accounts. I don't want to increase lifestyle significantly until I'm at financial independence, and for me that number is closer to $5million because I'd like at least a $200k withdrawal rate in retirement.

[emilyhowe]

I follow these general simply rules and this has worked amazing for me. Diversify, dollar or pounds cost averaging investing method, portfolio re-balance every quarter with my CFA and I have mainly an allocation fund with mix of SP500 managed ETFs/ index funds. worked out the best for me and my portfolio grew over 245% last year just hit the 7 figure mark..Grateful to Dianne Sarah Olson.