A Road Map To Practical Wealth with Curtis May Alex Escobar and Aziz Yousuf 43:43

Welcome back to Screw The Stock Market With Alex Escobar and Aziz Yousuf. Today we are joined by Curtis May as our guest!

Curtis May is the creator and owner of Practical Wealth Advisors (PWA) and host of The Practical Wealth Show Podcast. The primary focus of his financial planning firm is to help individuals and families become financially free by following the principles of wealth creation that have endured for centuries around the world.

As the host of his popular podcast, The Practical Wealth Show, and in his meetings with clients, Curtis teaches people that their number one financial asset is their knowledge. The more they know, the lower their risk, and the greater their chance of success over time. He feels

strongly that financial products are simply tools. What makes the biggest difference in people’s lives isn’t the product, it’s how they use it. Curtis has been planning for individuals for more than 35 years, and he is passionate about helping his clients save money and live the very best life they can right now.

Join us today and let’s know more about Curtis and how Let’s dive in!

[00:19 – 07:42] Opening Segment

Curtis May is from Philadelphia and is a third-generation entrepreneur.
He got into the insurance business and then read “Rich Dad, Poor Dad” which changed his perspective on money and led him to start studying Austrian economics.
He started teaching principal-based planning in 2012 and has been successful in Coaching people to win.

[07:42 – 14:56] Wall Street’s Rules for Surviving the Financial Apocalypse

The two main thoughts people have about money are the accumulation theory, which is based on buy and hold strategies and average rates of return, and the velocity of money theory, which is about how often you can turn your money over.
The accumulation theory is what most people are taught in school, but it’s not what rich people do.
The velocity of money theory is what rich people focus on, and it’s based on becoming efficient with your money so you can make more.
Most people are focused on chasing returns instead of becoming financially independent, and this is why Wall Street makes so

[14:57 – 29:15] 5 Principles of Personal Finance You Should Know

Curtis recommends starting with principles of personal finance, which include saving money and investing for long-term growth.
A person doesn’t need to be invested in anything to start building financial freedom, but one should start with principle number one: saving.
protecting your money by playing defense and leaving a legacy.
increase your chances of making money, you need to be liquid and invest for long-term growth.

[29:15 – 36:33] How to Invest for the Long Term

The key to successful investing is to have a sound understanding of financial principles, including inflation and interest rates.
To achieve this, it is important to have a comprehensive understanding of the different asset classes, their risks, and how they work together.
One key way to do this is through the use of financial planning software.

[36:33 – 43:00] How to Invest Your Money to Build Wealth

So, one of the main takeaways from this conversation is that you need to become more efficient with your finances and think about them differently.
Curtis recommends investing in your expertise, rather than speculating on stocks or other investments.
He also recommends spreading your money around so that you have a variety of assets and don’t put all your eggs in one basket.
Curtis shares a quote from Dan Kennedy “One of the worst words in business is risk and investing is risky if you’re uneducated.”

[43:01 – 43:42] Closing Segment

Want to connect with Curtis? Follow him on LinkedIn

Resources Mentioned

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Tweetable Quotes:

“You’ve gotta educate yourself and, and stop looking for quick fixes. You gotta find out what you like, what are you willing to develop some expertise in? And that doesn’t happen overnight”

– Curtis May

Alex Escobar Podcaster

Alex is a Realtor and an investor that buys income producing apartment buildings and offers the opportunity for others to partner with him, sometimes for less cash than it would take to buy a single family investment property.

In addition to co-hosting the Screw The Stockmarket podcast, Aziz is an avid investor and burgeoning entrepreneur, with a deep interest in long-term financial growth opportunities. He is also a trained legal professional, and an expert international development and business advisor.