140 - Time, Risk, and Wealth: What the Rich Know that Others Don't with Mike Milligan

Watch this episode on YouTube! In this conversation, Mike Milligan discusses the critical relationship between risk and wealth building, emphasizing that significant risks are necessary for rapid financial growth.  He highlights the importance of having a safety net when taking these risks and reflects on the value of time in the context of wealth creation, suggesting that successful individuals would trade their wealth for more time if given the chance. Key Takeaways: If you want to build wealth fast, you have to take huge risks and you have to be willing to fail. Many people who have failed and lost seven figures can rebuild their wealth. Successful individuals value time over money, willing to trade wealth for additional years of life. Taking big risks is essential for rapid wealth growth. Having a safety net is crucial when pursuing high-risk investments. Failure is part of the journey to success and wealth building. The ability to rebuild wealth is a common trait among successful entrepreneurs. Time is a non-renewable resource that wealthy individuals prioritize. Financial planning should account for both risk and safety measures. Understanding the balance between risk and reward is key to financial success. Connect with Mike at: Website LinkedIn YouTube Instagram Don't forget to subscribe to The Small Business Mindset so you never miss a tip that can grow your business! Follow Kirsten Flory for more tips and updates! www.kirstenflory.com