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Millionaires Unveiled

367: Net Worth Of $1.3M - Climbing Out Of A 200k Mountain Of Debt

Millionaires Unveiled

Jace Mattinson

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

4.8872 Ratings

🗓️ 22 July 2024

⏱️ 44 minutes

🧾️ Download transcript

Summary

Summary

Cori has a net worth of $1.3 million. It is spread across various asset classes and included a primary resisdence and a vacation home. She works in finance and plans to retire with her current company. She and her partner keep their finances separate. She shares her journey of paying off an ernormous amount of debt. One of the turning points for her was when she realized more than 1/3 of her take home pay was going to pay interest payments. One of her big goals is to retire early.

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Transcript

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0:00.0

And then the second turning point was I had, so I do finance for a living and so I'm, you know, I'm kind of like a spreadsheet nerd.

0:07.0

So I had looked at my net worth, I knew it was very, very negative.

0:11.0

However, what I hadn't done was I actually calculated the annual interest I was paying, which was about $16,000 a year.

0:19.0

And that to me was my wake-up call.

0:21.0

I realized I would never retire early, which was always one of my goals. I

0:24.6

realized I would never get wealthy if I was paying the $16,000 every year. And at the time,

0:30.0

that was almost a third of my take-home pay. know a dollar of every three dollars of my paycheck was going to

0:36.9

interest and obviously that was not going to help me become wealthy.

0:40.9

Welcome millionaires and future millionaires.

0:44.2

You're listening to the Millionaires Unvealed

0:46.4

podcast, the show where you'll hear the stories and interviews

0:49.4

of everyday millionaires will unveil their decisions, their

0:52.6

strategies, and their portfolio allocations.

0:56.4

Now to your host, Jayce Matinson.

0:58.8

Welcome back to another episode of The Mooners on Vell podcast. This is episode

1:05.0

number 367. This is the podcast where everyday millionaires spill the beans on

1:10.1

their stacks of green. We're your host, Jason Stacey,

1:13.6

ready to bring you the unscripted tales of wealth,

1:16.4

warts, and all, because who needs a script

1:18.0

when you're rolling in dough?

1:19.3

Join us as we dive into the net worths

1:21.4

and asset allocations of regular folks turned financial

...

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