“The Truth About Money: 11 Myths That Keep You Poor” | Dana Cornell E476

Dana Cornell created a Wealth Diagnostic that shows high earners where the system is quietly draining their wealth and how to fix it before it costs them millions. wealthfreedomscorecard.com/richsomers

Most people think making more money is the goal—but without the right structure, more income just means bigger leaks.

Rich sits down with Dana Cornell to break down the biggest money myths keeping entrepreneurs stuck—even at high income levels. From managing $1.4B at Morgan Stanley to walking away and building his own firm, Dana shares what actually separates people who look wealthy from those who are truly financially free.

They unpack why net worth can give a false sense of security, how most high earners are just employees in their own business, and why selling a company doesn’t automatically make you rich. The conversation also dives deep into tax strategy, the difference between CPAs and true tax strategists, and why the IRS might be your biggest “business partner” if you don’t understand how to play the game.

Rich and Dana also break down the concept of building a “family office mindset”—coordinating advisors, creating structure, and focusing on cash flow over vanity metrics. Because at the end of the day, income might make you rich—but structure is what keeps you wealthy.

If you’re making money but not keeping it—or you’re trying to turn income into real financial freedom—this episode is a must-listen.

Connect with Rich on Instagram: @rich_somers