Revenue Accelerator with Rennie Gabriel

<p>In this episode of the Revenue Accelerator Podcast, we have invited Rennie Gabriel. He is the award-winning, best-selling author of “Wealth On Any Income” who went from broke at age 50 to multi-millionaire. With a net worth in the top 1% of Americans, he donates 100% of the profits from his books, coaching, and speaking. Rennie is semi-retired and does public speaking on how to handle money effectively and create wealth. Today, he shares his insights on building wealth and why you should aim to make an impact with your wealth.&nbsp;</p><p><strong>From Broke to Multi-Millionaire</strong></p><p>[1:33]</p><p>By the age of 50, Rennie had a couple of divorces, business failures and was broke. He turned himself around using a thousand-year-old concept. And within eight years, Rennie became a multi-millionaire. At this point in his life, he doesn’t have to work for a living. He is working only to channel 100% of his profits from his work to charity.&nbsp;</p><p><strong>Using Debt to Create Wealth</strong></p><p>[2:31]</p><p>Rennie took a class at UCLA on buying and managing apartment buildings effectively. He had the opportunity to be a 25% investor in a three-unit property with his wife and a realtor. It took him three years to save $18,000. The money then created a half a million-dollar profit for the three of them. He discovered that wealthy people have different attitudes than ordinary people. He learned that you could use debt to create wealth, so he went and borrowed more money for down payments on more apartment buildings.&nbsp;</p><p><strong>The Worst Thing that You Can Do</strong></p><p>[5:41]</p><p>Paying off debt before saving or investing is absolutely the worst thing anyone can do if they want to create wealth because it’s talking about two different things. Paying off debt is like dieting. With the muscle of creating wealth, you have to start saving and investing.</p><p><strong>Save and Invest&nbsp;</strong></p><p>[7:23]</p><p>Lack of debt doesn’t mean that you have an abundance of something else. If yo