406: Garrett Gunderson - Why 95% Of People Never Get Rich

Garrett Gunderson is an author, speaker, and financial advocate. In this episode, we discuss:

00:00 What Most People Get Wrong About Money

02:10 The NFT Mistake & Chasing The Next Big Thing

05:20 Why Entrepreneurs Shouldn’t Diversify Too Early

07:10 The Scarcity Mindset That Almost Ruined My Marriage

11:45 Why No One Shrinks Their Way To Wealth

13:30 The 3 Types of Expenses (And The One That Makes You Rich)

16:20 Why Diversification Can Keep You Average

19:10 The 2008 Crash & Over-leveraging Real Estate

22:00 Focus Creates Exponential Growth

24:10 The Retirement Lie

27:00 Why Only 32% of Millionaires Feel Wealthy

29:15 The 18% Rule & The Living Wealthy Account

33:00 Reduction Thinking vs Production Thinking

36:30 Did Warren Buffett Really Use Compound Interest?

40:00 Why 91% of $5M+ Net Worth Own Businesses

42:30 The Problem With Dave Ramsey’s Advice

45:30 Great For Broke. Bad For Growth.

48:00 Loving Debt vs Misusing Debt

51:00 Why Most Entrepreneurs Fail With Leverage

54:00 What Makes Life Worth Living?

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Disclaimer: The Freedom Pact Podcast is provided for informational and entertainment purposes only. The content is not intended to constitute, nor should it be relied upon as financial advice.