Dec 31, 2020
Conventional financial advice dictates that we should save everything, spend nothing, let compound interest work for us and hope that will give us a good life.
The sad truth is, this is a big lie financial advisors get people to buy into. Instead of parking our money, making it work hard for us is the true path to financial independence and freedom.
There’s a huge difference between accumulation and acceleration. When we put money in motion, we create a powerful tailwind that gives us control, and makes it possible for us to live our dream life. It makes it possible for us to get out of the rat race and work because we want to, not because we have to.
How does the concept of compound interest do us a huge disservice as investors? Why should we be flexible when it comes to the strategies of financial freedom?
In this episode, I’m joined by cash flow expert, author, and founder of Money Ripples, and the Anti-Financial Advisor, Chris Miles. He talks about his journey, retiring twice and how to use our money to create the life we want.
Three Things You’ll Learn In This Episode
Why accumulating money actually puts us at a
disadvantage
We’re often told to focus on accumulating money, and to enjoy the
fruits of compound interest, but that isn’t the best way to gain
financial freedom. If we park our money, it’s hard to get it to
work for us. The wealthiest and most successful people in the
world, and even banks keep their money in motion.
The importance of being flexible as an
investor
Strategies and tactics are not absolutes, we have to be flexible
about them. When it comes to what it takes to gain financial
freedom, the strategies change with circumstances or time. What
remains the same are the principles and fundamentals. As long as we
stick to the fundamentals, there is room to shift strategies.
Why we have to choose our advisors wisely
Be careful of who you take financial advice from. We have to follow
the advice of people who are living the life we want, the people
who are living our perfect day. Many financial advisors don’t take
the advice they give their clients, or follow the strategies they
tell people to follow.
Guest Bio-
Chris Miles “the Anti-Financial Advisor” is a Cash Flow Expert, author of Beyond Rice & Beans and founder of Money Ripples. He teaches entrepreneurs and professionals how to get their money working for them TODAY!
He’s also the podcast host of The Chris Miles Money Show, and he has been featured in US News, CNN Money, EOFire, and has a proven reputation of getting his clients fast financial results.
For more information visit http://moneyripples.com.