The REAL Truth About Getting Rich! ("I WISH Someone Had Told Me This Earlier!") | Codie Sanchez

Risk Taking

Codie Sanchez emphasizes the importance of taking risks to achieve financial success, challenging conventional attitudes towards risk. She shares her personal journey from an immigrant family that avoided risk to realizing that taking calculated risks is essential for financial growth. Codie explains that without risk, the value of money diminishes over time due to inflation and other economic factors 1.

The only way to get to contagion, where your money starts making so much money, it becomes uncomfortable for you, is for you to take more risk.

--- Codie Sanchez

She argues that the fear of risk often stems from societal narratives that discourage entrepreneurship and ownership, but overcoming this fear is crucial for financial independence 2 3.

   

Ownership Shift

Codie advocates for a shift towards ownership as a key element of achieving financial freedom and escaping traditional career limitations. She highlights the generational wealth creation opportunity presented by the transition of small businesses from baby boomers to a new generation 4. Codie encourages individuals to seek ownership and equity, emphasizing that becoming an owner requires taking risks and having skin in the game.

I want you to etch one word on your soul instead, which is owner.

--- Codie Sanchez

By embracing entrepreneurship, individuals can move from being workers to becoming part of the 3% who own businesses, thus multiplying their wealth rather than merely adding to it 5 6.