Codie SanchezFounder @ Contrarian Thinking

How to CREATE Wealth

8 Sept 2024 · 1 min

Watch on YouTube

0:58

Codie Sanchez breaks down three wealth-building paths: real estate for tax benefits, stocks for steady returns around 10% annually, and businesses as the fastest route to serious money. She recommends putting $250k to $500k into starting or buying a business, since real estate and stocks alone won't get you there without already being rich.

Chapters

Real estate is for tax and it's for long term wealth. So it's where you go to have savings in tax and have long term wealth, not accumulation, but preservation. So we go there to skip the IRS and we go to real estate so that long term I have more safe assets. Stock market, we do to beat inflation. So we want 10% sort of max per year. That's why we invest in the stock market. Neither of these two things, unless you have a ton of money, are going to make you rich. Right, let's get 20 million in one of them. Exactly. Then you can if you have a ton of money. These two things are great, which is why most people who are really, really wealthy own a ton of this after they've made their money. Yes. The only way that you're really going to make your money is by starting or buying businesses. And so in my opinion, this is where you put the 250 to $500,000. Because you can have an infinite return on it. Yeah, you can't make real estate make you 50x return in one year, I mean, unless you have some crazy deal. But in buying a business, you can't.