362: Scott Trench’s Step-by-Step Guide to Building Your Perfect, 1-Page Investment Plan
2Description
A financial plan puts you on the path to long-term wealth and a life rich in time freedom. So why don’t most Americans have one? Everyday workers are often so focused on paying bills and having a sliver of time to relax that they completely forget the whole reason many of us work—to one day do what we want, when we want, with who we want. So, if you’ve been on the grind, making money, wanting to build wealth, but don’t know where to start, this is the episode for you.
In it, Scott Trench walks through his “investment philosophy,” a simple, customizable plan that has allowed him to build wealth at record speed all in less than ten years. This document can be used by anyone in any position no matter how much you have invested or saved up. Once written, this simple financial plan gives you laser-focus on building wealth, so market crashes or corrections become a buying opportunity and slow months/years are something to cherish, not worry over.
Scott and Mindy walk through this document piece by piece, giving you the exact answers you need to build your investment plan today. Although this document may sound simple, it’s what will define your life’s effort for the foreseeable future and give you the structure you need to accomplish massive wealth-building goals that may have seemed almost impossible before!
Get the Personal Investment Philosophy Template Here!
In This Episode We Cover
Why creating a financial plan/investment philosophy is so crucial when building wealth
Goal setting and discovering the principles of investing that you follow
How to set your “target state” and what to do after you’ve achieved your biggest goals
How to choose which asset classes to invest in (even if you’re brand new to investing)
Emergency funds, safety reserves, and when or when not to keep a large cash position
The three steps you can do TODAY that will fast-track your wealth-building
And So Much More!
Links from the Show
Find an Investor-Friendly Real Estate Agent
BiggerPockets Money Facebook Group
Finance Review Guest Onboarding
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Subscribe to The “On The Market” YouTube Channel
Listen to The “On The Market” Podcast: Spotify, Apple Podcasts, BiggerPockets
Check Out Mindy’s 2022 Live Spending Tracker and Budget
Get the Personal Investment Philosophy Template Here!
Finance Friday: First Down Market? Here’s How to Stop Stressing
The Money Date: What You Should (And Definitely Should Not) Do to Align Your Finances as a Couple
Click here to check the full show notes: https://www.biggerpockets.com/blog/money-362
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