In this episode of the Millionaire Mindcast, Beau Henderson talks about building wealth and living a rich life and shares the roadmap to unlocking it, tackles the importance of having financial literacy, and finding out the true meaning of rich and fulfilling life!
Beau Henderson is a Financial Advisor & Founder of Rich Life Advisors, helps clients across the United States approaching retirement with a strategy to save more money, pay less in taxes, giving retirement coaching and retirement planning.
He is a best-selling author of several books including The RichLife: Ten Investments for True Wealth, The Roadmap to a RichLife, The 5 Thieves That Will Steal Your RichLife, The RichLife Stewardship Principle and Masterful Communication For Success With Business and Life with Dr. Bill Lampton, and the host of The RichLife Show, a retirement consultant, money and business coach. He has helped over 3,000 clients to not just improve their relationship with money but to live their unique definition of a fulfilled life with purpose. As a media contributor, Beau’s message of the RichLife has been featured in media outlets including The Huffington Post, Wall Street Journal, Reuters, CNBC, and MarketWatch.
Beau is very intentional in investing meaningful experiences, investing in physical health, and investing in financial literacy. He believes in having financial planning is really significant to move towards a financial goal. If you want to do something do it, there’s no better time than now. Get on the path of creating a roadmap to unlocking a rich life. Identify your clear definition of rich life because it will light you up, gives you energy, and a sense of empowerment. But be honest with yourself and don’t let your unconscious side affected by negative things like mistakes and beliefs affect your plans, actions, and principles.
Then, learn how to create income, handle it, sustain, grow, and leverage it. Make sure to create expenses on what’s left, and don’t accumulate debt that you can’t afford. If you have an issue managing a thousand dollars then you’ll have the same issue managing thousands in the future. The money thing starts working when your philosophy changes. When money, investing, savings, and something doesn’t work, it doesn’t mean you're a failure. Don’t be afraid to try, fail, learn, get feedback, try again. Do it repeatedly and just continue giving yourself opportunities.
However, monitor on what you’re doing to make sure you’re on your goal, do you need to change your goal, and what lessons you’ve learned. Make sure you’re putting your business in a good position, your business partners, your family, and look for opportunities where you can mitigate risks.
On the other hand, Beau learned the philosophy of life - you don’t have to choose between successful with money and success in life, make sure you’ll use the latter to live a life that is meaningful and fulfilling to you. If not, you’ll look back with a lot of regret in life.
He is proud of looking back that he had helped a million kids got expose about financial literacy than looking back earning millions of money. This is what makes him happy and fulfill. He was taught by his dad to invest in other people. It’s the one thing that can’t be taken away from him. It’s his contribution to people. Beau has been blessed to monetize what he loved. There’s nothing that’s really gonna serve you as well as finding that thing that lights you up, that you’re good at, that serves people, that helps people and creating a business around that.
Knowledge is power, start educating yourself. Work with people whose competent that actually teach you things like to invest, how to do real estate and grow with them. Have the right financial money plan but also do the context of a life plan.
Resources Mentioned:
The Rich Life: Ten Investments for True Wealth book by Beau Henderson