As I hung up the phone last week, I knew Adam and Tiffany’s success story would be crafted into this week’s blog. Unexpectedly, an excited Adam called to tell me how their $500 a month commitment to building wealth had grown to a little over $7,000 in the past year.
To fully understand and appreciate their journey I’ll take you back to the spring of 2012 when Adam’s company was building a deck at our home. Every day that Adam and his crew showed up for work I noticed next to Adam’s tool belt were two Red Bull energy drinks and a small paper sack with convenience store stuff. Over time Adam and I began to talk about his construction company, his family and his dreams.
This eventually led Adam to ask me the big question, “How can I build wealth?” His question started a conversation that ultimately led him to discover that he and his wife were spending well over $360 a week on Red Bulls and other minor weekly lifestyle choices. That’s over $18,000 a year spent on basically “nothing”. Assuming Adam and his wife got serious about building wealth, changed their habits, cut that $360 a week in half to $180, or $720 a month, and invested the $720 a month over 30 years they would have almost $1.3 million.
Adam and Tiffany are now well on their way to building uncommon wealth. Adam shared that saving/investing $750 a month was a real possibility and once they fully implemented all the Wealth Builder 10 Steps, $1,000 a month was well within their reach.
Obviously I can’t share all the twists and turns this couple has experienced over the last 4 years, but I do think there are a few key takeaways from this real life story of how they are implementing the Wealth Builder 10 Steps that could benefit and encourage others:
Don’t get discouraged. (Step 1: You have to Start. Start Now). It took Adam and Tiffany over two years of hearing the wealth building message before they committed themselves. They just had to start.
Have you started yet?
Look for those “Red Bull” expenses in your life. (Step 2: Reject Jonesitis). We all have our own “Red Bull” expenses. Realize that at some level most of these wealth robbing expenses are rooted in Jonesitis.
How can you overcome this Jonesitis effect in your life?
Adam and Tiffany started acting like wealth builders. (Step 3: Act like a Wealth Builder) This couple began to realize the 30-year value and opportunity of saving money by eliminating the daily ritual of drinking Red Bull, as well as limiting their weekly dining out experiences or buying used instead of new. And yes, always using the 5% rule; asking for that discount of 5% or more.
Are you acting like a wealth builder?
Good things will start to happen when you start running your life like a money making business. (Step 4: Run Your Life like a Business) I truly believe you can’t start running your life like a business until you name it. Just ask Adam and Tiffany, the owners of Brown Bundle, Inc.
What’s the name of your life business?
You’ve got to know where you’re headed. (Step 5: Develop your FLG) As Adam and Tiffany have brought focus to their journey, their financial life goals have become more of an obtainable reality.
Do you know where your wealth building efforts are taking you?
Adam and Tiffany realized the more financial control they exercise, the greater their potential. (Steps 6-8) Understanding and controlling the numbers are a must.
Are you looking for help in this area?
*You can find some great worksheet tools from on my website.
Building wealth the right way requires a good team. (Step 9, Biggie #3) As Adam and Tiffany move through their wealth building journey they’ve realized the importance of aligning themselves with strong professionals to keep them headed in the right direction; particularly a good financial advisor.
Need help in this area?
*Email me and I’ll send you my one sheeter on how to build your financial team.
Wealth building is a marathon, not a sprint. (Step 10: Discover Your Pace) Adam and Tiffany are developing a wealth building pace that will allow them to enjoy life now, and reach their dreams in future.
Do you have a financial pace that will carry you to your dreams?
Whether you are just starting, in the middle or on the downhill side of your wealth building journey I hope you can find some encouragement, wisdom and inspiration from Adam and Tiffany’s story.
Oh, by the way, Adam and Tiffany, guess what saving/investing a $1,000 a month looks like in 30 years?
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