Codie Sanchez breaks down five ways to build serious wealth: inheritance, marriage, climbing the corporate ladder, managing money, and owning a business. She argues the first four reach only 5% of people. Business ownership offers the best returns: each dollar of profit growth sells for 2 to 5 times that amount.
Chapters
There are really only 5 ways to get seriously wealthy. I heard this the other day at a conference. This was full of people with $100 million plus in net worth. And here's the truth. They said on stage, the only 5 ways to get seriously wealthy are: 1, you inherit it. 2, you marry into it. 3, you climb a public company ladder as an employee. 4, you manage other people's money. Or 5, you own a business. It's crazy, only 5% of people fall into the first 4. So owning and scaling a business is the one path where you can actually build real wealth yourself. And one of the main reasons why is that for every dollar you grow the profit of the business, you can sell it for 2 to 5x more than that. So it's really hard to find that level of return anywhere. That is how I built the majority of my wealth. And if you want to steal my homework, I got you. It is all in this book that we are going to break down live on September 18th.