How to Build Wealth Without Wall Street - Curtis May #5249
b'Summary: Today we have the creator and owner of Practical Wealth Advisors, Curtis May, on the podcast to discuss how you can build your wealth without the assistance of Wall Street. As a close friend of the Financial Survival Network, May also promotes the idea that Wall Street\\u2019s goals do not align with the financial freedom most people are seeking. Rather than just utilizing various tactics and strategies, May advises than you have a structured plan and an awareness of the principles that will get you to your financial end goal. Tune in to get information on how you can acquire some of this advice, and to hear from an individual that can create a plan to fit your needs. Highlights: -We\\u2019ve been somewhat anti-Wall Street since the start -Curtis May is the the creator and owner of Practical Wealth Advisors -Wall Street doesn\\u2019t always have your best interest\\u2014how can one build their wealth without the assistance of Wall Street? -Two schools of thought when it comes to money: the accumulation theory (what they sell you) and corporate finance, which closely resembles what actually plays out -It is important to be aware of the two different games being played -Investing is a plan\\u2014not a product or procedure -Most people use tactics and strategies but lack an overall plan, which is typically to become financially free. This, however, is not Wall Street\\u2019s goal for you. -May\\u2019s purpose is to teach people how to become financially free, and the steps to take to get there -In terms of goal setting, May tries to ask people what they want, and why. Most people know what they don\\u2019t want, but it is sometimes more difficult to pinpoint what they do want -May\\u2019s ideal structure is \\u2018wealth in a decade\\u2019 which entails financial freedom in ten years or less\\u2014he is focused on teaching people the principles -Find out their goals, but give them principles to work with so that they don\\u2019t repeat the same mistakes over and over again -May specializes in risk-factors and defense (i.e. stable will and insurance) creating a wealth coordination account -Saving should be safe, accessible, and guaranteed -As your knowledge goes up, your risk goes down; Wall Street is all about risk tolerance and accumulation -Risk means probability of loss -May assures that the client is a good fit for the company, followed by a financial questionnaire, an assessment of what they\\u2019re doing now, and if what they are doing will take them to where they want to be -May goes off of a membership model so that the clients can learn\\u2014almost like being part of a club Useful Links: Practical Wealth Advisors The Practical Wealth Show Financial Survival Network'