Becoming Multi-Millionaire At The Age Of 50 With Rennie Gabriel

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Ready to uncover the secrets of achieving financial freedom and becoming a multimillionaire? Join Igor on this episode as he sits down with Rennie, bestselling author of “Wealth On Any Income.” Discover how to escape debt and overcome financial struggles with Rennie’s unconventional approach. From business failure to multimillionaire success after 50, his inspiring journey will revolutionize your money mindset. Get ready for a game-changing episode that will transform your relationship with wealth. Tune in now and rewrite your financial story!

Guest: Rennie Gabriel is a highly respected financial coach, speaker, and best-selling author known for his expertise in helping individuals achieve financial freedom and build lasting wealth. With over two decades of experience in the field, Rennie has become a trusted authority in personal finance. His practical strategies and insights have empowered countless individuals to transform their financial lives and create a solid foundation for a prosperous future. Through his engaging speaking engagements and impactful coaching, Rennie Gabriel continues to inspire and guide others toward achieving their financial goals and living a life of abundance.

[00:00] In this episode, Igor is joined by Rennie Gabriel to explore his groundbreaking strategies to escape debt and conquer financial struggles without the usual pain and frustration. 

[02:21] Rennie Talks About His Books, Writing Process, And Insecurities:

  • One of the things that I discovered is it doesn’t really matter how much money I have, I still have certain insecurities.

  • I was certified as a financial planner. It was not in my coursework, how to do the foundations of handling money, like a budget. And it’s also not taught to CPAs so they could teach their clients.

  • It took dozens of books for me to finally dig and get the information saved myself.

  • When I was younger, if I had, you know, $1,000 in my checking account, I’d feel secure. Now it takes hundreds of thousands to feel secure. Little things like that change. But the bottom line is the insecurities are still there.

[05:56] Being Restless About Your Finances:

  • Even though I am making a lot of money, I still maintain this relentlessness.

  • I operate from this place of fear. Because one of the questions in the book is what was my mother’s role concerning finances. And what I’ve discovered is, predominantly, I remember my mom worrying about the paycheck.

  • That vibe really stuck with me, because that was the vibe she had, most of the time, she was either angry at my dad for spending money, or she was sort of fearful, but that would make her seem angry.

  • I worry about the next sale all the time, in spite of the sales coming in on a regular basis, literally, like every hour, sometimes every few minutes.

[08:58] Buying Real Estate:

  • I was fortunate that my mother, when I was probably about eight years old, gave me this message that if you buy rental real estate, the tenants are actually buying the real estate for you.
  • And you figure well, I was in a sales job, my income would go up and down like a roller coaster and it was very uncomfortable for me. And my solution to that was to buy real estate.
  • The income from the real estate, whether my sales were good or not good, the tenants had jobs. And every month they paid the rent. So that income was steady.

[11:00] Being Too Insecure To Be An Employee:

  • Rather than looking at my dad, as someone to emulate, I instead looked to my uncle, who was employing my dad. 
  • I would rather be self-employed, and rely on getting clients and having income from several people than the insecurity of a job.
  • I’d rather lose a percentage of my income and have most of my bills covered than lose a job and lose 100% of my income.
  • So the bottom line is, I recognize I’m too insecure to be an employee.

[18:58] Avoid This Trap About Paying Your Debts:

  • Don’t focus on paying off debt first. That is the worst trap that people can fall into.
  • What I’ve seen other people do is that they focus on paying off the debt because some guru said that, and they pay off their debt and then something goes wrong, the car breaks down, a water heater bursts and they don’t have the money.
  • They go through this roller coaster through their whole life of paying off debt, and it comes back and paying off debt and it comes back and then they get to age 65 or 60 or 70.

[21:13] Wealth Creation Is A Team Sport:

  • Just because you’re debt free does not mean you build up assets.
  • I created an expression that says, wealth creation is a team sport, not a solo sport.
  • Stream the full episode to dive deeper into how Rennie turned a few thousand dollars into multi-millions with this strategy in only 5 years!

[24:21] The Concept Of Setting Money Aside:

  • I want to focus on the concept of setting money aside.
  • I tried to get people to do it, that people struggle with it, especially if they think they’ve got a low income.
  • They really don’t allow themselves to put away at least 10% of the money they earn into either a savings account or in a cardboard box.
  • I actually used to make about $1,000 a month, I put 100 bucks into a box. 
  • It’s funny that on such a low income, I was still able to save a lot more money than my brother who had two incomes of his own and his wife’s income, making about seven or $8,000 back in Israel, and they were constantly in debt all the time.
  • There’s a rule of thumb that works beautifully for everyone. If they set aside 10% It’s not going to change their life.
  • So psychologically, this is the situation where you take the action first. And then the results you need show up and the mindset changes.
  • You can’t have a change in attitude first. Until you take action. 

[41:31] The Importance Of Having A Spending Plan:

  • Budgets create that same mental idea of lack and sacrifice and deprivation. So let’s not talk about a budget.
  • Let’s instead talk about creating a spending plan. 
  • Let’s talk about spending money in alignment with the goals that you want to achieve. 

[44:19] Wealth On Any Income:

  • I will email them a copy of the book for free if they make a $25 donation.


Igor Kheifets is an amazon best-selling author of the List Building Lifestyle: Confessions of an Email Millionaire.

He’s also the host of List Building Lifestyle, the podcast for anyone who wants to make more money and have more freedom by leveraging the power of an email list

He’s widely referred to as the go-to authority on building large responsive email lists in record time.

Igor’s passionate about showing people how to live the List Building Lifestyle.