Grow Wealth, not Money with JT Foxx #MakingBank #S6E33

Making money isn’t growing wealth.

On this episode of the Making Bank Podcast, JT Foxx chats about investing, coaching and more. JT was broke and had a speech impediment—until he got into real estate. By 24 years old, he had made his first million, and by 28 years old, he reached ten million. Over the years, he’s learned how to generate money, grow it and keep it. A coach and partner to billionaires, JT shares his lessons and stories with and apart of the 1%.  

Listen to the episode to hear more about calculating net worth, navigating partnerships and more.

Listen to Josh and JT discuss building wealth:

Two Types of Entrepreneurs (4:41)

JT talks about the two types of entrepreneurs during the pandemic and what they did. He also distinguishes the difference between making money and growing wealth. There’s a difference between generating money, growing it and keeping it.

Your Actual Net Worth (7:40)

JT explains why most people calculate their net worth incorrectly and how to remedy that. He advocates for investing in yourself first, and then finding ways to grow your wealth in both small and large investments, which he calls rabbits and elephants.

Disparity of Power (12:27)

In working with billionaires, JT knows that he needs to bring a lot to the table. It’s important to remember your place and add value when doing partnerships. He encourages people to do the best they can because you never know when your success will skyrocket.

Coaching (15:11)

Coaches are essential to your success. However, the coaching world has really changed. Additionally, JT encourages people to try new things and look to their sources before judging.  

The Formula for Success (21:18)

JT talks about the difference between attending free events versus paid and how it impacts business. He also breaks down how involved you need to be in your business at different stages in order to hit certain milestones.

JT’s Background (24:26)

JT gives his background and how he made his first million. He chats about how he’s managing people and the pandemic now.

Core Values (25:47)

Loyalty is a top priority. JT points out how loyalty can look like sticking to your word. JT also discusses the importance of stop talking and get going. Lastly, he stands by following up and following through.

Links mentioned:

Making Bank - Website

https://www.instagram.com/jtfoxxofficial/

https://jtfoxx.com/#dialog