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Millionaires Unveiled

368: Net Worth Of $1.1M - Playing More Offense Than Defense

Millionaires Unveiled

Jace Mattinson

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

4.8872 Ratings

🗓️ 29 July 2024

⏱️ 41 minutes

🧾️ Download transcript

Summary

Summary

In this episode, Andrew shares his journey to a net worth of $1.1 million. He discusses his investment strategy, including dollar-cost averaging and index funds. Andrew also talks about his approach to handling taxes and the breakdown of his net worth, which includes home equity and a taxable brokerage account. He emphasizes the importance of tracking progress and setting financial goals. Andrew shares his perspective on financial freedom and retirement, as well as the role of his spouse in his financial journey. He offers advice for beginners, including the importance of financial education and learning from successful individuals.

Transcript

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0:00.0

Previously I was trying to like save my way to becoming a millionaire and like really playing defense I would call it and like preventing dollars from leaving.

0:11.0

And what I started to realize was you have a bigger

0:16.3

opportunity playing offense than you do defense because at the end of the day

0:22.0

like you're going to have to pay a living expense

0:24.4

whether that be rent or your mortgage you have to pay for food you have to pay for the

0:28.4

basic expenses and there's only like so so far you can go in terms of reducing those expenses but there's no limit to how much offense you can pay you can play and and

0:40.3

maximizing your earnings potential so I just started to realize that there was much more to gain in

0:46.0

focusing on improving my earnings potential than there was in like pinching pennies but at the

0:52.4

end of the day like I'm still you know very old school Midwestern in terms of not buying flashy things

0:59.7

welcome millionaires and future millionaires.

1:02.8

You're listening to the Millionaires Unveale Podcast.

1:05.6

The show where you'll hear the stories and interviews of everyday millionaires will

1:09.5

unveil their decisions, their strategies, and their portfolio allocations. their Welcome back to another episode of the Millionaires and Built Podcast.

1:23.0

This is episode number 368.

1:25.8

This is the podcast where everyday millionaires spill the beans

1:28.8

on their stacks of green.

1:30.8

We are your host, Jason Stacey, ready to bring you the unscripted tales of wealth,

1:35.0

warts and all because who needs a script when you're rolling in dough.

1:38.0

Join us as we dive in the net worths and asset allocations of regular folks turn financial

1:44.2

tightens. It's like cribs but with fewer gold-plated toilets and more practical

1:48.6

advice. We promise our only edits are to be kid-friendly so you won't hear any

1:52.3

naughty language just

...

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