The Money Secrets of the Successful: WealthyBy40

Learn how the creator of WealthyBy40 is creating wealth, passive income, and is on track to reach financial independence in my latest interview. WealthyBy40 reveals his favorite money books, money advice, and more!

 The Money Secrets of the Successful: WealthyBy40

The Money Secrets of the Successful: WealthyBy40

Are you aware of the Financial Independence ratio? I wasn't until talking with WealthyBy40.

You'll learn about some great books, financial habits, and more that have helped WealthyBy40 stay on track to reach financial independence!

Check out the interview below, I think you'll love it!

What are your favorite books related to money?

Rich Dad Poor Dad by Robert Kiyosaki -> great mindset book, although don't follow the advice to the letter as I'm fairly sure some are illegal!

Warren Buffett's Ground Rules by Jeremy Miller -> Great insight into the thinking of the greatest investor of our generation

Warren Buffett's annual letters on Berkshire Hathaway

What are your favorite apps related to money?

Google Sheet -> I'm old school at a ripe young age of 28!

Moneybox App (https://www.moneyboxapp.com/) -> helps me to save my spare change and be the icing on the cake for my pension. It's just like the piggy bank I used to have (https://www.wealthyby40.com/how-you-can-save-20000-without-feeling-a-thing/)

What is the worst money advice you hear?

Work hard and you will be fine -> No, you need to work hard and smart. Most importantly, you need to be working to create an asset for yourself.

What money advice would you give a 25-year-old starting out in life?

Earn -> Save -> Invest -> Repeat

Do you have any financial habits you live by?

I monitor my FI Ratio (passive income/expense) every month and I'm always looking for ways to raise that number.

What is #1 thing people should do today for a better financial life?

Earn -> Save -> Invest -> Repeat

Did you overcome any personal failures to get where you are today?

I remind myself that tomorrow will be better than today and the glass is always half full.

What was the turning point in your life to become financially successful?

When I bought $5,000 worth of BP shares in 2011 (after Deepwater Horizon) and they still paid me dividends at 5% without me lifting a finger, I realized that dividend investing is addictive!

What is the most worthwhile investment you have ever made?

1. My wife. She's the reason why I'm here today.
2. Embrace endurance sports -> taught me the "never give up" mentality

How can people follow and get in touch with you?

www.wealthyby40.com/contact or @WealthyBy40 on Twitter

I love hearing from anyone and everyone!


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DAVID SHEPHERD

CREATOR OF LET'S AUTOMATE YOUR MONEY WITH MY LOVELY WIFE KRISTA


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