Millionaire Interview 433

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.

This interview took place in August.

My questions are in bold italics and their responses follow in black.

Let’s get started…

OVERVIEW

How old are you (and spouse if applicable, plus how long you’ve been married)?

I am 45 years old and my spouse is 49 years old.

We will be celebrating our 15th wedding anniversary this year.

Do you have kids/family (if so, how old are they)?

We have 10-year-old twins.

What area of the country do you live in (and urban or rural)?

We live in Southern California. 3 years ago my father died, which led to us moving to a very high cost of living neighborhood to take care of my mom.

Prior to moving, we owned a home in a more modest neighborhood. We purchased it in 2017 for $630,000.

We sold it for $800,000 in 2021 which is astonishing given it’s 1200 square feet.

The move initially was a significant adjustment, but now that it’s been a few years, we have formed great friendships and really appreciate having our relatives close by.

What is your current net worth?

$2,150,000

What are the main assets that make up your net worth (stocks, real estate, business, home, retirement accounts, etc.) and any debt that offsets part of these?

Total assets: $3,600,000

• Stocks: $740,000
• Bonds: $36,000
• Stable Income Fund and Cash: $82,000
• Pensions: $148,000 (mine); $48,000 (spouse’s) both have COLA and will provide $25k income total.
• Real Estate Portfolio: $2,546,000

We have a total of 16 rental properties. Our initial cash investment for 14 properties was $514,000 from 2020-2021.

We purchased 2 more rentals in 2024 with 77% cash, and 23% seller financing.

Liability: $1,443,000

• $1,400,000 mortgage loan for 14 rentals. Interest rates vary from 3.25 to 4.35%
• $43,000 loan for 2 rentals which is seller financing. Interest rate 9% over 20 years.

Planning to pay off within 3-4 years.

EARN

What is your job?

I have worked in the mental health sector as both an administrator and clinician for over 20 years. Currently, I work part-time as a faculty for a university, providing psychotherapy to staff, faculty, and clients from the university hospital.

This work is very fulfilling and aligns with my values. If you work 20 hours or more, you will receive all benefits, including disability, term, and medical insurance, as well as employer matching, etc.

The bulk of my career was spent with a county agency for 16.5 years. Social workers in the county burn out quickly.

Recognizing this early in my career prompted my spouse and me to focus heavily on investing.

Three years ago, after purchasing most of our rentals, I left my county job, thinking real estate cash flow would cover most expenses (*spoiler alert—it did not). Around the same time, our financial planner offered me a job, and I went back to school to become a Certified Financial Planner®, passed the board exam, and worked in the field for six months.

Though we had negotiated a part-time position, it became clear they expected 40-50 hours per week, which I was unwilling to do. I left on good terms, with additional knowledge gained.

The university position began full-time, but I found it took up too much of my time, so I reduced to part-time and found a better balance. Part-time hours allow me to spend time with my spouse, friends, and kids throughout the week.

I’ve been here almost two years and plan to continue, only reducing to 25% in 2029 when we start drawing from our pensions.

Last year, I started a coaching business, which quickly became successful but proved too demanding. Sensing a theme yet?

I also manage property managers for our rentals and serve as chauffeur and daycare provider for my kids.

My spouse works at a medical hospital. She returned to school in her 30s, retook prerequisites, and earned her master’s degree.

She’s been in this field for roughly 12 years and enjoys it. She also plans to reduce her hours by 50-75% in 2029.

What is your annual income?

Total annual income: $136,000

• My university income: $51,000 for 12 hours/week. If you add in the benefits, it comes out to $68,000.
• My spouse’s income for 32 hours/week is $85,000.

Tell us about your income performance over time. What was the starting salary of your first job, how did it grow from there (and what you did to make it grow), and where are you now?

My first job was in 1995, earning $8/hour as a telemarketer.

After graduating from grad school in 2002 and receiving two master’s degrees, one in social work and one in administration, my first adult job offered a base salary of $43,000 in 2002 (which is low for someone with two master’s degrees, but common in my chosen profession).

Since my initial role was in a high-risk environment, I received a hazard bonus. Additionally, overtime work helped increase my earnings to nearly $80,000.

Over the years, I transitioned through various positions, eventually securing a rewarding overtime role in crisis response, which boosted my income to $134,000 by 2009, allowing us to pay off all our debts. Later, I was promoted to an administrative position, which reduced my salary to $105,000.

During this time, I also taught courses at a university and supervised interns, earning an additional $10,000-$15,000.

From 2007 to 2012, my spouse worked in law enforcement part-time while attending school full-time, earning $20 an hour. During this period, she likely brought home between $15,000 and $24,000 while completing prerequisites and graduate school.

She then worked full-time from mid-2012 to 2014, earning around $80,000 annually. After our children were born in 2014, she transitioned to per diem work, earning $40 an hour and bringing home approximately $25,000.

While we have had numerous opportunities to earn significant incomes from our careers, we consistently prioritized family time and our well-being.

What tips do you have for others who want to grow their career-related income?

The professors in the school of social work always used to say, “No one chooses this field because they want to get rich.”

I never agreed with that statement as it is not based on facts. If you aim to become wealthy in a career with lower wages, you will need to find ways to increase your income and ensure that you are investing.

Never stop learning and teaching others. Improving my skills in mental health and enhancing our financial security were crucial to landing higher-paying jobs.

Conduct yourself in a manner that fosters trust. Supervisors always favored individuals perceived as consistent, reliable, and effective communicators, often granting them more overtime hours.

Always ask others in your field about ways to generate extra income. It was through networking that I discovered various side gigs that helped me achieve above-average earnings in my field.

Only return to school if it will significantly increase your income. Instead of solely pursuing your passion, focus on your skills and allow success in your field to fuel your passion.

What’s your work-life balance look like?

I don’t see how there can be ‘work-life balance’ given that work is a part of the life you live and cannot be separated. The work I do is a welcomed part of my life; there are times when it takes up more time and creates more stress, but there are also times when it is more fulfilling than other moments in my life.

My job as a therapist is much like that of an editor. People tell me stories based on their perceptions, which are often distorted by expectations created in their childhood, culture, society, etc.

I step in to provide them with tools to rewrite these stories so they are grounded in reality, use more compassionate language, and instill confidence in their capabilities. How fortunate I am to be able to help these individuals.

Most of my life now revolves around rest. It took three years for me to learn how to rest.

At one point, I believed that being stressed out and constantly working meant I was accomplishing something worthwhile. Since taking care of the kids wasn’t stressful enough, I didn’t think I was doing enough.

Eventually, I learned to give myself permission to rest and not be driven solely by productivity.

Rest for me now involves reading for hours, playing games with the kids, going on coffee dates with my spouse, hiking with friends, engaging in art, and exercising. It feels amazing.

Although I have worked from home for the majority of my career, full-time work allowed me to spend a lot of time with my kids and engage in recreational activities, though not as leisurely as I can today.

My spouse and I always made sure that one of us worked part-time so that the kids had one of us around. This choice impacted our ability to save, but it significantly eased the tasks of shuttling kids around and cooking dinner.

Do you have any sources of income besides your career? If so, can you list them, give us a feel for how much you earn with each, and offer some insight into how you developed them?

From July 2020 to September 2021, we used cash and loans from our stocks/bonds to purchase 15 rental properties. In February 2024, we bought 2 more rentals and paid mostly in cash to increase overall cash flow.

After learning about the wealth-building opportunities real estate offers, we decided to take a chance and invest 50% of our net worth in it. I spent a year interviewing property managers and researching locations across the United States.

Finally, we took a leap of faith (which often felt like falling into a dark abyss of uncertainty and still does sometimes) and began purchasing properties.

Real estate offers 4 key areas of income:

• Cash flow: Our gross rental income is $153,000/year, but net income varies due to vacancies, turnover costs, and maintenance. On average, we are fortunate to receive $30,000 to $60,000 per year, though 2024 has been our first negative year; we’ve dished out $17,000 due to high turnovers and repairs.
• Tax savings from depreciation and write-offs: We get to keep at least an extra $10,000 of ordinary income annually due to all the tax benefits.
• Debt paydown: Tenants contribute around $30,000/year, increasing our net worth annually by this amount.
• Appreciation: We’ve experienced $250,000 in appreciation each year, which is frankly remarkable. We don’t expect this trend of 10% appreciation to continue.

In addition to our real estate portfolio, I started a coaching business. Income varies, and while it can be lucrative, I rarely take on new clients because my goal has shifted to prioritizing more rest and leisure time.

I estimate it will generate $7,500 in net income this year.

SAVE

What is your annual spending?

• Total annual spending: $60,108
• Fixed expenses: $38.820
• Variable expenses: $26,220
• Real Estate Fixed expenses: $142,596

I keep our real estate expenses separate from our family’s expenses, except for the 2 new rentals since that is seller financing and not a traditional mortgage. We are contemplating paying that off in the next 1-2 years.

What are the main categories (expenses) this spending breaks into?

Below is a breakdown of the percentage of spending in the main categories:

• Housing 3%
• Utilities 14%
• Food 29%
• Transportation 11%
• Personal items 26% – includes extracurricular activities, vacation, umbrella insurance, Netflix, gifts, liability insurance, and term life insurance.
• Seller Financing for the 2 new rentals 7%
• Business expenses 1% related to keeping up the website.

This is the first time I’ve broken our expenses down by a percentage and it makes a lot of sense that we spend the most towards food and then vacation (17%). This aligns with our values a lot.

We love to go out every week and enjoy dessert or coffee, hang out at farmer’s markets, and eat well. We do cut costs by purchasing in bulk and purchasing from stores that discount the same items sold at places like Wholefoods.

Additionally, we prefer to eat most of our meals at home since my spouse is an amazing cook and our dinners feel like we are dining at a 5-star venue.

We try to take 3-4 vacations a year, up to 2 months off. We go out of state or country once per year.

We live in such a beautiful location and often do activities that feel like we are taking vacations weekly, it doesn’t require a lot.

Do you have a budget? If so, how do you implement it?

Yes, we have a budget. Having grown up with immigrant parents who have a solid scarcity mindset, a budget is what keeps me sane.

The budget allows me to feel a lot more relaxed about spending money, especially on vacations.

I created the budget 12 years ago using a template from Dave Ramsey. My spouse and I talk about the budget often and refer to it to see how much we have saved for various buckets such as clothing, vacation, a car, or investments.

We are very accustomed to saving, which makes spending hard for us. Hence, the budget helps!

What percentage of your gross income do you save and how has that changed over time?

This depends on cash flow. With no cash flow, we save 24% of our gross income.

With the cash flow, it can be up to 60%.

What’s your best tip for saving (accumulating) money?

Have a conversation with the future version of yourself. Ask that person what they would appreciate you do in this moment to make their life easier in the future.

My future self always had a few requests. She told me:

• She didn’t want to worry about money if she were to get ill or feel fatigued or not be able to work anymore (this is relevant because I have an autoimmune disease that would make me tired often, now I just nap when I’m tired and not working full time has improved my health.)
• She wanted to spend a lot of her time with her kids.
• She wanted to work with low-income clients, knowing this would not pay well.
• She wanted work to be optional for her spouse

What’s your best tip for spending less money?

Focus on what truly matters to you. There’s a billion-dollar industry designed to convince you that you need their products.

Be aware of their marketing tactics and decide for yourself what you genuinely desire.

Every behavior serves a purpose, so consider what motivates your purchasing decisions, especially for significant expenses. This approach has eliminated the need for us to signal status through buying name brands.

We don’t need to wear someone else’s name on our bodies to believe we are worth more.

What is your favorite thing to spend money on/your secret splurge?

My favorite thing to spend money on is yummy food and dessert. This happens 2-3 times a month.

We also love spending money on vacations. This is a lot of fun and we make decisions on where to go as a family.

Sometimes the kids are learning something at school and we decide to visit the location they are studying. These experiences are worth every penny and we love talking about them after the fact.

INVEST

What is your investment philosophy/plan?

For the first 16 years of investing, we used the “keep it simple” philosophy and only invested in passive index funds. In the last 4 years, we branched into investing in real estate and that has added a layer of complexity and more active involvement.

Though we have property managers who assist us, we still have various issues that need to be attended to such as maintaining the proper insurance, making sure taxes are paid, looking through what’s being charged for turnovers, discussing unexpected repairs, evictions, etc.

We now have 14 rentals in 4 different states, which was part of our original plan and provides the diversification we were seeking. However, this past year we added a different type of rental investment to our portfolio.

The 2 new rentals are modular homes and set up as lease-to-own only. We did this to increase our cash flow, and thus far it has been helpful in covering any other real estate expenses (but ask me again in 5 years).

Though our investment portfolio has grown more complex, the one philosophy we have stayed consistent with is buy and hold. There are rules we have created to determine when a rental meets the criteria to sell.

As for index funds, no plans to sell until we cut back on work in 5 years. As we move forward, we only plan to purchase index funds in our retirement accounts.

What has been your best investment?

In terms of ease, it’s definitely Vanguard Total Stock Market Admiral Funds. We lucked out because we had been in our careers for 5 years before the recession, which then led to a very long bull run in the market.

We invested 40% of our income during that entire time, and it paid off significantly.

In the last 4 years, real estate has provided the greatest monetary gain, especially during the economic downturn due to Covid. I’m still new to all this; thus, when I see our net worth shift by $300,000 a year and neither one of us is working a 40-hour schedule anymore, it shows what the power of leverage can do.

What has been your worst investment?

We purchased a timeshare back in 2010. That turned out to be a total waste of money, as we didn’t know much about these things back then.

Older family members who owned them explained what a great investment it would be to own a piece of real estate. All of that turned out to be wrong.

Over time, we have broken even on this ‘investment’. We use it a few times a year, have found ways to maximize its value, and have been able to share it with our friends and family.

Additionally, some of our rentals are considered ‘iffy’. We sold one because in 2 years, there were 3 turnovers, and after discussions with various property managers, it was clear it wasn’t in the best location.

(Side note: During the sale, we found out our neighbors were making bombs. The good news is they were arrested, and the entire home was renovated.)

It might have worked out if we had kept it, but I followed my gut and wanted the experience of selling one of our rentals. It gave me a lot more confidence in how to proceed if any of the ‘iffy’ properties go downhill.

What’s been your overall return?

I started keeping track of our investments in 2012, the average return has been 21%. However, this also includes money invested from our paychecks:

• 2012: NW $120,000
• 2014: NW $216,000
• 2016: NW $390,000
• 2018: NW $663,000
• 2020: NW $889,000
• 2021: NW $1,174,000 (hit first million)
• 2024: NW $2,100,000 (hit second million)

How often do you monitor/review your portfolio?

Since meeting with our financial planner around the time we hit our second million, I found myself checking our net worth on Personal Capital far too frequently. I’ve had to intentionally cut back.

Frankly, the daily changes became boring and monotonous. That’s why I prefer to track our net worth annually; that’s when we see more significant returns.

Checking your portfolio daily is like measuring your kids’ height every day—it’s more enjoyable to do it over 4-6 months.

NET WORTH

How did you accumulate your net worth?

We did not inherit any money. My field is known not to make people wealthy, which meant we had to work overtime to help buff up our ability to save.

Investing was the key to accumulating our net worth.

First, we invested time in reading tons of books related to financial literacy. We started off with Dave Ramsey’s Total Money Makeover and that motivated us to bring in more income, become debt-free, and save.

We had to get creative and search out jobs that worked to our advantage. Here’s a quick glance at what we did:

My spouse was going to school full-time and worked part-time during the night shift through the city. This gave her time to study, do homework, collect a little extra income, and get a pension.

I spent the first 11 years of my career working overtime and doing contract work. This was all done before the babies were born. It was a lot of fun, and I made friends with colleagues who were also subscribing to Dave Ramsey.

We used the majority of our excess cash to pay off all our debt and invest in index funds. We were maxing out all our tax advantage retirement accounts (401k, 457b, Roth), and contributing to a brokerage account.

We sold everything that was weighing us down financially, like our house, which was a short sale, and a luxury car. Initially, this meant money out of pocket, but in the long run the numbers worked out better and we slept better at night.

We budgeted everything. This helped us track where our money was going and how much we were saving.

Let’s not forget that luck and privilege play a part. Both my spouse and I grew up in middle-class immigrant households.

Growing up, our parents supported us financially, and we knew we were loved. We both went to high school in affluent neighborhoods, and our peers had positive influences on us.

My spouse’s parents owned successful businesses, and my mom was a doctor. We got lucky to invest in a raging bull market and invest in real estate when interest rates were low.

Finally, the most important, my spouse and I are on the same page when it comes to finances. When we first started dating, I was a huge spender.

Once we hit that moment when I realized we were in the red, a mentor handed me The Millionaire Next Door and told us to budget. That changed our entire financial trajectory.

What would you say is your greatest strength in the ESI wealth-building model (Earn, Save or Invest) and why would you say it’s tops?

It’s a challenging question. We worked overtime to increase our income, which enabled us to save and invest.

Despite never earning as much as most of our friends, we managed to save and invest at least 40% of our income starting in our early 30s. The balance between strength and weakness is delicate.

As much as I enjoy saving, resisting the urge to spend has become quite challenging. There are moments when I adopt a scarcity mindset and doubt that we have enough.

This is something I actively address. I remind myself that we do have enough, and recognize that true financial security is an illusion, as worst-case scenarios in my mind often have some basis in reality.

Instead, I strive for acceptance that security and safety are uncertain while reminding myself of our ability to handle whatever challenges come our way.

This might sound pessimistic, but it’s intended to be the opposite. Chasing after an unattainable ideal can cause unnecessary worry and make us feel inadequate.

Embracing what is, instead, alleviates the pressure of trying to control a future that may or may not materialize.

What road bumps did you face along the way to becoming a millionaire and how did you handle them?

After graduating from grad school, we leased a luxury car and bought a brand-new house making interest-only payments. When the recession hit, we were upside down on the mortgage by over $250,000 (40% below what we purchased it for), and had another $80,000+ of debt.

To make a bad situation terribly worse, I changed jobs and didn’t have the extra overtime anymore.

I will never forget the day I realized we made less income than we spent. For someone who always paid off all their bills ahead of time, this was terrifying.

Then, I began to read about finances and teach my spouse what I was learning.

After reading the Millionaire Next Door, I returned the leased luxury car and bought a new Toyota; I hadn’t learned about depreciating assets just yet, and buying used was always spoken very negatively in amongst my parents.

After reading Total Money Makeover, we did a short sale on the house. We knew this would hurt our credit, but the goal was to decrease stress and be able to save more than we spent.

This was one of the best decisions we made at that time.

We created a spreadsheet listing all our debt and monitored how much we were paying towards each month. Debt included: grad school loans, timeshare loan, and credit cards.

We took on the debt snowball approach, paying off the smallest debt and then taking the extra money to pay the next debt. This took us under 1 ½ years.

What are you currently doing to maintain/grow your net worth?

We continue to invest excess income towards debt and invest in our retirement accounts and taxable brokerage accounts.

Other than that, we are hoping for compound interest from time in the market to do its thing.

Do you have a target net worth you are trying to attain?

This is a loaded question for someone who struggles with a scarcity mindset. Initially, cash flow was more important than net worth, especially with 2 cost-of-living adjusted pensions and cash-flowing rental properties.

However, since realizing that the cash flow from rentals varies, we want to have $3 million by 2029 to know we can fully retire if we had to. If we talk about abundance, then the target net worth is anywhere past $5 million.

How old were you when you made your first million and have you had any significant behavior shifts since then?

41 years old. No significant behavior shifts, however, we did high-five each other when it happened.

2nd million came at 44 years old. This was very much unexpected, and it led to a little bit more angst of losing the money and excitement of what is possible for the future.

What personal habits and/or traits have you developed that have made you successful at growing your net worth?

Being interested in learning about money and wealth has significantly contributed to our success. Additionally, taking risks, such as with out-of-state real estate investing, has greatly boosted our net worth.

We acknowledge that much of our success is due to luck, which keeps us grounded and prevents us from taking on additional risks at this time.

I also strive to be mindful of the thoughts that influence my behavior, ensuring they align with our family values. For example, I’ve noticed that when I believe we don’t have enough, I tend to invest in more real estate or seek higher-interest investments, which consumes a lot of time and adds more risk.

Being aware of this allows me to challenge my inner dialogue, reminding myself that we have enough and that patience will be the best approach to achieving success.

What money mistakes have you made along the way that others can learn from?

I wouldn’t buy a new car or a luxury car unless I had money to burn. I should’ve invested in retirement accounts up to the employer match instead of pausing to pay off the debt.

I would’ve purchased rentals in my early 30’s instead of my 40’s. The sooner you purchase this asset, the sooner you can reap the benefits.

It is definitely a bumpy ride, but even the rentals that are duds can teach you a ton. The difference with the bumpy ride in stocks is that I don’t have to pay attention to it, but with real estate, it’s important to track the numbers and be involved with what you are getting charged for by the property management company.

What advice do you have for ESI Money readers on how to become wealthy?

Identify what your purpose is for becoming wealthy. Create a goal. Stay consistent.

Be flexible, knowing that there will be many ups and downs. You can’t become wealthy without taking some risks and ensuring that you save more than you spend.

FUTURE

What are your plans for the future regarding lifestyle?

Currently, we are financially flexible. We plan to downsize our jobs even further, working only 5-10 hrs per week in 2029 when my pension kicks in because it comes with medical insurance.

If I wanted to stop working and retire early today, I can. However, my job brings a lot of purpose and meaning.

Plus, with having a negative cash flow year, the extra W-2 income helps replenish reserves.

What are your retirement plans?

We don’t have any plans to retire fully because we have jobs that aren’t stressful. Our current life is very fulfilling.

My spouse and I go out on dates 1-2 times a week while the kids are in school. Then we spend 2-3 days playing at the park, going hiking, and hanging out with friends/family when the kids are around.

The great thing about not working full-time is that every day feels leisurely. When the kids get off school, we spend at least an hour hanging out with their friends and the parents nearly every day.

I imagine as we age things will shift, but not a whole lot. We are living the life we want to live and retirement isn’t going to change that much.

We all feel very grateful and fulfilled by life.

In terms of finances, we will begin to draw my spouse’s pension this year and my pension in 2029. Cash flow from real estate and stocks/bonds should cover the rest of the spending.

Are there any issues in retirement that concern you? If so, how are you planning to address them?

There are so many unknowns that happen in life — the black swans. Ultimately, it’s about reminding ourselves that we have already dealt with many challenges, and our capability to weather the black swans won’t be any different from how we handled them in the past.

We also remind ourselves that it’s okay to take a “good enough” approach to the challenges we face.

For example, despite having a healthy net worth, much of our wealth is tied up in equity. We don’t have a net worth problem but we do have a liquidity problem.

If we need to purchase a car or a house, we’ll need to sell assets, whether it’s stocks or real estate. Our ability to pay cash for things easily has been affected recently due to our cash purchase of two new rentals and experiencing our first negative cash flow year (due to numerous repairs and costly turnovers).

It has been a valuable, albeit stressful, lesson, and we have no intention of repeating it. Our solution to this unforeseen predicament is to focus all excess cash on rebuilding our reserves and increasing our liquid assets.

MISCELLANEOUS

How did you learn about finances and at what age did it “click”?

Around my mid to late 20’s after we got ourselves in six-figure debt I realized something needed to change.

That was a very scary experience, and the good thing about fear is it mobilized us to reflect on how we got here, and how we can improve.

Who inspired you to excel in life? Who are your heroes?

My peer group had a tremendous impact on me. Watching them excel signaled to me to follow suit.

I was fortunate to attend a very good high school. After that, I had amazing coworkers who advised me to “make sure to invest up to the match” and were also committed to being gazelle intense about saving and paying off debt.

Of course, my parents were influential too. My mom taught me the importance of working hard and having a successful career, while my father emphasized spending time with your children and enjoying the simple things.

A few years ago, after my father died, my mom continued to work as a doctor and finally cut back to just a few hours this year, she’s in her early 80’s. She spends a great deal of time traveling the world with her friends and really living it up every day.

It’s terrific to witness.

Finally, I had a mentor/professor who had a lot of influence. After we fell into a lot of debt, she recommended that I read “The Millionaire Next Door” and create a budget.

Those two things changed our lives. Fifteen years later, when I told her we had reached our first million, she was shocked.

She said, “I advise many people to read that book, but seldom have I had anyone come back and tell me they actually read it and changed their lifestyle because of it.”

Do you have any favorite money books you like/recommend? If so, can you share with us your top three and why you like them?

• Millionaire Real Estate Investor: There is a section in this book that creates a spiritual component to wealth building, focusing on the benefits of our wealth and how we can use it to help our community and others in need. It really opened up my mind to thinking beyond just my family.
• Millionaire Next Door: This book helped dispel my erroneous beliefs about how millionaires spend their money. It keeps me focused on what is truly important and meaningful in life.
• Four Thousand Weeks: Time Management for Mortals by Oliver Burkeman: This book emphasizes the finite nature of our time on Earth, urging us to reassess our relationship with time and prioritize what truly matters amidst the overwhelming demands of modern life. It encourages us to create a more meaningful existence within the constraints of our limited time.

I read a lot, so it’s challenging to narrow it down to just three books. Most of the books I read relate to nihilism, stoicism, mindfulness, and maintaining a healthy lifestyle, though I also enjoy solid mystery fiction and sci-fi books.

Do you give to charity? Why or why not? If you do, what percent of time/money do you give?

We donate to local charities and also contribute to charities that request donations through our kids’ school. However, we prefer to give money directly to people in need.

As a family, we agreed to increase how often and how much we tip service workers. This has been more fulfilling because we can see exactly where our money is going.

Do you plan to leave an inheritance for your heirs (how do you plan to distribute your wealth at your death)? What are your reasons behind this plan?

Yes, we have a will and trust in place.

The goal is to not distribute too much wealth until the kids are in their mid to late 30’s. If we give it to them too early, it can take away their drive to accomplish more, which can easily lead to a sense of meaninglessness.