5 Levels of Wealth AND How to Achieve Them! (2024 Edition)

We believe there are five distinct levels of wealth, but they aren’t solely dependent on income or net worth. We’ll walk you through each of the five levels - including how to know where you are at, how to advance to the next level, and signs you are doing it right.

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.

[paulbuono]

1:45 Level One (Stability)
8:14 Level Two (Strategy)
15:19 Level Three (Security)
25:11 Level Four (Freedom)
36:15 Level Five (Abundance)

[jennieakagrace]

Please I am begging for chapter segments in videos in 2024

[SOAP-jfue]

Brian shouting at the beginning: check.
Bo being excited: check.

[Jenesis]

Money is not the aim but a tool to get to a state. My goal is freedom, not amassing a ton of money. As soon as I have enough to be free I retired. I have no debt but fixed and necessary expenses and my elderly mother. We live on $20k a year and save $20k a year. I have a chunk in retirement savings that I don’t need to touch until inflation or expenditure exceeds my monthly income. 18 months into retirement I finally settle into a state of needing nothing (shopping used to be a vice and a big expense). I cook, do craft, sing with ppl, swim. I feel free and blessed.

[scottcrombie]

Brian and crew, thank you!!! I am late to the party, just turned 50, but I found you guys 4 years ago and your content has changed my family’s life and future. Thank you for being real and being so positive!

[driverjohns]

I appreciate the focus on "abundance". I think you nailed it. "What is better than having that sparkling new jet boat? Not wanting it, basically living in peace, freedom and happiness". I have the opportunity to make a lot more money than I currently make, however it would cost me the freedom of doing what I want. There is nothing better than not having to work and being able to go fishing, skiing, hiking or whatever you like doing.

[humm]

I had 2 goals since childhood, Get a black Belt and own my house outright. Did both 2 weeks apart in '15. The bank had the new person do the process of paying off our loan, 'because she would never see it again' Both were a lot of work, but damn amazing.

[Bergenn]

You could invest in stocks, start a side business, or focus on advancing your career. It's important to set goals and make a plan. Remember, wealth can mean different things to different people, One thing i can say that helped me in life to reach my first million was starting early, i got curious and informed i became open to passive income, investments in equities, etfs and the likes. also sought help to handle my portfolio which was my foundation. i'm ever grateful to Dianne Sarah Olson my FA.

[freedomlife]

Reached our FI last year and really happy with our life. Very content and looking forward to sign off our careers and start our next adventures. Glad both of us don’t feel the need to keep up with Jones. We have a lovely and comfortable home, travel to any places we would like to in comfortable manner. Enjoying good food and good company. Life is a bless. It took us 20 years to build it, it’s all worth it. I am the one manages our finance & never had issue to spend money. Since I am responsible for planning and executing our FI, I adopted dropping what we need to safe in investment account, then we can spend rest guilt free, it worked well for us. Know yourself and find a solution to help you achieve your goal, stay the course, we will get there.

[peptoglizmol]

The show is absolutely wonderful ; it is very inspiring.

[ConserveMore]

I like this approach to thinking about wealth. For me, abundance is more of a mindset that can parallel any of the levels. The highest level for me is Legacy - being able to pass on part of my resources to the next generation.

[Isaacleeyeahthatsme]

Instead of “boiling point”, Brian should just say, “escape velocity” instead like he did in the last show. lol. Love the terminology guys!

[TwoSidesOfFI]

Thanks for the shoutout, guys! Love the ep 🙏

[This.Is.My.Story.]

Wow great show. Wish I had this guidance in my 20s. I never had a budget, never had 6 months safety net but put all the building blocks down, most importantly “pay yourself first”. Today at level 4 with net worth of 3M but still feel empty. Need to work on level 5. Thanks for great advice.

[michaelwoods]

It's instructional to hear you talk about abundance. Regrettably, in our late seventies our buns don't dance any more. A stately waltz is about the best we can do!

[chanelle]

I'm in the group that saves everything left over after expenses, rather than budgeting and "paying myself first". Apparently, I'm an outlier here, because it works really really well for me. Most years, my husband and I save around 50% of our household gross income. I'm paying off my house this year (at 45 - my last debt of any kind), and savings rate will go even higher going forward.

[SecretAgent]

I grew up with the “saver” mentality and unfortunately, though I was great at saving into adulthood, I was never educated about investing. It’s far easier for me to correct this (start investing) than someone who doesn’t have the saver mentality, but it’s frustrating to know that I’ve missed out on a lot of money due to ignorance.

[jRex]

The stage of abundance is such an interesting topic. I would love to see a video done entirely on abundance.

[retrovelcro]

I just want to thank you for putting a positive spin on finance, especially for those older than our 40s and beyond. Lots of people shows put on too many scare tactics and want us to embrace the fear. There's an element of that, alright, but thinking positively has a better long-term effect, imo.

[jillm]

Excellent video!!! I'll be sitting my parents down and rewatching it with them 🔥🔥🔥