Revenue Accelerator with Rennie Gabriel

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. 

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From Broke to Multi-Millionaire


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. 

Using Debt to Create Wealth


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. 

The Worst Thing that You Can Do


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.

Save and Invest 


Lack of debt doesn’t mean that you have an abundance of something else. If you don’t have assets generating an income for you just because you’re debt-free, you still have to work for a living. You still need to buy groceries or pay utility bills or pay transportation costs. This means you either work or you have assets generating the income for you. And the only way to do that is to save and invest.

The truth about the Laptop Lifestyle


When thinking about the laptop lifestyle, you are sitting in the Bahamas, and money is coming into your account. It’s great to sell a concept to others too. That’s where the money is coming. It is not coming from them sitting in the Bahamas doing nothing.


There is no problem with people enjoying their life and taking time off. It’s one of the things that you support people to achieve. It’s to get to this place where they can reallocate their wealth. Wealth is a fantastic and powerful entity. It’s not evil, greedy, or harmful, but there’s this massive amount of positive impact that you can have.

Managing Money


Having more money does not solve the problem of mismanagement. You have to focus on expenses first. When you get that under control, making more money is so much easier.

Creating Wealth


Rennie’s team creates a spending plan to want their clients to spend money aligned with their goals and values. They want them to measure the level of pleasure clients get based on where they’re spending their money. They then figure out if a purchase was worth it. 


When you focus on where you are spending, you can increase your income, which flows more easily. When Rennie concentrated on where his money was going, his income jumped to 50%. At that point, he was living beyond his income, and the more he earned, the farther he was getting behind. 


Know Where Your Money is Going


John D. Rockefeller was the creator of Standard Oil in the 1840s. When he was 11 years of age, he tracked every penny that came into his life and where he spent it—a habit John kept even as a multi-billionaire. Even when he was the wealthiest man in the world, he was still tracking where his money was coming from and spending it.

What Builds Wealth?


Wealth creation is a team sport, not a solo sport. People who attempt to create wealth themselves don’t end up as far as they could when involving a team. Whether it’s partners or a couple of people founding a company together, that team aspect is crucial to building wealth and success.

Who has the Ability to Make a Bigger Impact?


Mother Teresa did a fabulous job. Even though she had a vow of poverty, she raised millions of dollars to support her charity work. The difference is that Bill Gates had billions of dollars he created to put into his foundation to deal with health issues and education issues worldwide. The number of people that Bill Gates impacted with his money is greater than what Mother Teresa could impact.

Creating Wealth to Impact the World


The people that Rennie works with have a purpose and want to make an impact. They don’t take on clients who want to buy their second Lamborghini. The people they work with care about the planet and other people, and they want to make an impact. They support people to handle money powerfully so that they can become philanthropic.

Resources Mentioned

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