BiggerPockets Money18 Sep 2023

451: The 9-Step “Stairway to Wealth” That ANYONE Can Use to Become Rich

This “financial order of operations” could be your ticket to financial freedom. If most Americans followed these steps, they would find themselves debt-free, with full retirement accounts, passive income, and “wealth-accelerating” investments that only top-income earners can access. But you don’t need to make hundreds of thousands of dollars a year to follow this “Stairway to Wealth”; you just need to follow these steps!

Andrew Giancola from The Personal Finance Podcast built the “Stairway to Wealth” after realizing that the common wealth-building plans, like Dave Ramsey’s “Baby Steps,” wouldn’t fit most people’s lifestyles. Instead, Andrew worked to develop a system that almost anyone could use, one that was tailored to TODAY’s financial environment and gave people more of a choice when it came to their investments.

Following this nine-step plan, you can go from low cash and high debt to debt-free, financially safe and secure, and invested for your future. Whether you’re starting on step one or step nine, this type of financial framework can make financial independence and early retirement MUCH easier.

In This Episode We Cover

The “Stairway to Wealth” financial order of operations ANYONE can use to build wealth

Emergency reserves and why the “$1,000 standard" amount ISN’T enough

Roth IRAs, 401(k)s, and which retirement accounts to invest in

Paying off debt and which interest rate is worth tackling first

The “wealth accelerators” that boast massive returns but with higher risk

The “super retirement account” that most Americans don’t know about

And So Much More!

Links from the Show

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Start Your Real Estate Investing Journey with the “BiggerPockets Real Estate” Podcast

Are Dave Ramsey’s 7 Baby Steps Overrated

Master Money

The Personal Finance Podcast

The “Stairway to Wealth”

Andrew on BiggerPockets

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