Here’s our latest interview with a millionaire as we seek to learn from those who have grown their wealth to high heights.
If you’d like to be considered for an interview, drop me a note and we can chat about specifics.
- $ 1,400,000 401K and IRA (Pretax)
- $ 50,000 Roth IRA
- $ 350,000 Personal Home
- $ 450,000 Vacation Rentals (2)
- $ 150,000 Mortgage Primary Home
- Effort will outperform talent most of the time. Working hard was instilled in my upbringing. It wasn’t a talk from my parents; it was just what I observed and then did instinctively. It amazes me when I see people purposely ducking work. If you picked a field you actually enjoy, this shouldn’t be an issue. Perhaps related to my next tip.
- Put your bleeping cell phone down. Up until covid sent everyone working from home, I am shocked at how many people regardless of age will look stare at their phones in meetings and simply not pay attention. When I see this over and over, my first thought is, you are not taking this meeting seriously, or worse yet, you don’t value my time. The odd thing is, I think I am in the minority here because it seems like it is becoming acceptable behavior. Perhaps I am just getting towards the twilight of my working career and I don’t “get it” anymore. My opinion is cell phone addiction is a real thing. I worry about our next generation.
- I have not had to job hop however it does seem more the norm than the exception. When you are thinking of perhaps moving on, talk to your boss. You don’t have to say you are thinking of leaving. Tell them you are ready for something more challenging. Ask them what you can do to help them and learn at the same time. Don’t be afraid to talk to your boss. I never was. Make them look good and more times than not it will benefit you as well.
- 21K Principal and Interest on primary home. I am on an accelerated pay down plan.
- 8K Vehicles / Maintenance / Gas.
- 8K Groceries/Meals/Entertainment
- 5K Cable/Internet/Utilities
- 6K Property Tax
- 10K Vacations (We go to our properties a lot, but pay for usually 1 other per year for the family)
- 25K Income Tax (Federal, State, Local)