#236 - How I Made My first Million (And How You Can Too)

Money Grows on Trees

In this episode, Lloyd James Ross, a seven-figure investor and entrepreneur, shares his personal journey to achieving a million-dollar net worth. He emphasizes that it's not just about revenue, but profit margin and net worth that define financial success. Lloyd discusses the importance of real estate in wealth accumulation, revealing how many millionaires in Australia have achieved their status through property investments. He reflects on his initial hesitations about buying real estate due to fears of being tied down by a mortgage. Throughout the episode, he provides valuable insights and strategies for listeners who may feel overwhelmed by investing or stuck in old financial habits. Lloyd underscores the importance of teamwork in success, highlighting that he did not achieve his milestones alone but with the support of his wife, Alicia. Tune in to learn how you can take control of your finances, grow your wealth, and work towards achieving your own financial freedom.

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Timestamps

00:00:00 - Introduction

[00:01:04] Millionaire without property investment.

[00:03:00] Underspending for wealth building.

[00:07:33] Becoming a millionaire strategy.

[00:10:41] Financial independence in your 30s.

[00:12:16] Wealth building strategies for success.