351: Net Worth of $2M+ - Navigating the One More Year Syndrome

Millionaires Unveiled

Jace Mattinson

Investing, Millionaire, Financialplanning, Business, Self-improvement, Education, Finance

4.8 • 872 Ratings

🗓️ 1 April 2024

⏱️ 53 minutes

🔗️ Recording | iTunes | RSS

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Summary

Dividend Daddy has a net worth of $2+ million. He shares his journey to financial independence and his investment strategies. He discusses his real estate holdings, including his mortgage-free primary home and investment properties with mortgages. Dividend Daddy explains the reasons behind paying off his primary home early, including the limited mortgage options in Canada.

He also talks about his transition from index investing to a hybrid approach, focusing on dividend-paying stocks in Canada. Dividend Daddy plans to live off his dividend income and contract work, allowing him the flexibility to travel and live life on his own terms. The principal theme of the conversation is Dividend Daddy's plans for his next phase of life, which involve traveling and working remotely. He wants to explore different parts of the world, particularly Europe, South America, and Asia, and spend more time in warm climates.

Dividend Daddy is not interested in owning a car and prefers to use public transportation, walk, or cycle. He learned the importance of saving money from his grandfather, who emphasized paying with cash and avoiding debt. Dividend Daddy became a millionaire around the age of 35, but he didn't track his net worth closely. He has recently shifted from index investing to a hybrid approach that includes dividend investing. His advice to younger investors is to start early and keep expenses low.

Takeaways

*Dividend Daddy has a net worth in the multi-millions, with investments in the stock market and real estate.
*He paid off his primary home early due to the limited mortgage options in Canada and the peace of mind it provided.
*Dividend Daddy focuses on dividend-paying stocks in Canada, particularly in stable industries like banking and telecommunications.
*He plans to live off his dividend income and contract work, allowing him the freedom to travel and live a location-independent lifestyle. Dividend Daddy plans to travel and work remotely in different parts of the world for his next phase of life.
*He prefers to use public transportation, walk, or cycle instead of owning a car.
*Dividend Daddy became a millionaire around the age of 35, but he didn't track his net worth closely.
*He has recently shifted from index investing to a hybrid approach that includes dividend investing.
*His advice to younger investors is to start early and keep expenses low.

@DividendDaddy1

Transcript

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0:00.0	proverbial one more year syndrome because the pay at work is great.
0:04.8	It's very, very generous.
0:07.3	So I'm happy about that, but it has kept me locked down
0:10.9	to my seat in the office, so speak and that's just not working for me anymore.
0:16.3	Welcome Millionaires and future millionaires.
0:19.2	You're listening to the Millionaires Unveale podcast, the show where you'll hear the stories and
0:23.8	interviews of everyday millionaires will unveil their decisions, their
0:27.8	strategies, and their portfolio allocations. Now to your host, Jayce Mattingen.
0:36.0	Welcome back to another episode of the Millionaires-In-Velt
0:38.0	Podcast. This is episode number 351.
0:41.0	Stace, happy Easter to you.
0:43.2	Thank you, good to be back.
0:45.0	Yeah, you're backing at it.
0:46.5	I am hanging in there.
0:48.2	Don't fool me, you're crushing it.
0:51.2	So yeah, I hope everyone had a great Easter. We sure did. It's kind of fun. The kids are in a fun age for that and of course we had two two little new ones to join the the group last week. Really released episode number 350, and yeah, it generated quite the buzz.
1:07.0	In fact, we got all sorts of reviews.
1:09.0	Yeah, and I kind of wanted to address a few of them because I want to, guess bring a little bit of clarity to one of these
1:16.7	but one of them this came from avid listener 33 though and this was before last
1:21.0	week's episode and basically said that we disregarded some listener
1:25.3	concerns and lack of vision here. I'm not quite sure what that means, but anyway, I appreciate an
1:30.1	email if you send an email to me and we can get some things cleared up.
	...

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