614. Expert Interview: From Money Moron to Self-Made Millionaire–Making the Leap to a Job You Love
Scott Alan Turner
Scott Alan Turner went from being a money moron at age 22 to a self-made millionaire 13 years later. He’s an early retiree and has been debt-free since 2009. He now spends his time helping others become financial rock stars through his best-selling book, talk radio show and podcast. He’s been quoted in Forbes, Business Insider, Money Magazine, CNBC and US News & World Report. He’s been married to his wife, Katie, for 11 years, and has twin three-year-olds. In his free time he plays guitar in a rock & roll band. His books are “99-Minute Millionaire” and “Money A to Z for Children.”
Making the Leap to a Job You Love
“Getting out of debt is the first step toward financial independence. Automate your savings so you don’t have to make a decision every payday to save money. Use it to start an emergency fund, first for unforeseen expenses, then to reach specific goals. Without a financial cushion, you don’t have the freedom to leave a job you hate or make the leap to a job or opportunity you love. Next, take an honest look at your expenses and your possessions and decide which ones you can let go.”
Why Is This Important?
“The average person coming out of college has about $30,000 in student loan debt. The average person in their mid-40s does not have enough money to cover a $500 emergency. If the water heater goes out or there’s a leak in the roof, or if the transmission goes out on the car, they can’t pay for it in cash. They’ve got to charge it, and rack up more debt.”
What Are the Key Lessons Learned Here?
“Growing up, we don’t learn about savings, compound interest, and proper investing techniques that will build wealth over the long haul. Investing in stocks and bonds is made out to be a scary thing, and Wall Street makes it more complex than it really is. The good news is, with some simple changes, you can get out of debt and start building wealth. No matter where you are in life, you can start making changes.”
Connecting With Scott Alan Turner
Free audio version of Scott’s book “99-Minute Millionaire.” Visit www.scottalanturner.com and mention Discover Your Talent Podcast.
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Careers: Information Technology, Investing, Software Coding
Topics: Financial, Financial Independence, Investing