379: Net Worth Of $2.5M - An Engineer Wearing Luxury Brands From India to Australia

Millionaires Unveiled

Jace Mattinson

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

4.8 • 872 Ratings

🗓️ 15 October 2024

⏱️ 41 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Chris is an engineer living in Sydney, Australia, with a net worth of $2.5 million. He has built his wealth through a combination of real estate investments, retirement accounts, cash savings, ETFs, and other investments. Chris started investing in real estate in 2017 and has acquired five properties since then. He also emphasizes the importance of investing in superannuation, a tax-advantaged retirement account in Australia. Chris plans to continue investing in ETFs and other options to diversify his portfolio and achieve his goal of a $5 million net worth and $100,000 in passive income in the next 7 to 10 years. He believes in the power of hard work, skill, and a positive mindset to create wealth.

Takeaways

*Investing in real estate can be a lucrative way to build wealth
*Superannuation is a tax-advantaged retirement account in Australia
*Regular saving and investing are key habits for financial success
*A positive mindset and hard work are essential for achieving financial goals
*Diversification is important for managing risk in investments
*Tracking net worth and expenses can help in financial planning
*Travel and creating memories are worth the investment
*Believe in yourself and your ability to achieve your goals

Sound Bites

"A part of all I earn is mine to keep."
"I developed my formula which was, I named it as SETFIP, SETFIP. S stands for the superannuation, then it's ETF and IP is the investment property."
"A part of all your time is yours to keep."

Transcript

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0:00.0	It came with all the bells and whistles like in those days. I got a company car from day one
0:06.8	Like also we when we used to travel we used to travel by air all the time which was a novelty in those in those years in 2000s in India
0:16.1	as a young graduate to travel by air and live in five-star hotels so overall it was a it was a good lifestyle I was enjoying and I got used to it very quickly.
0:26.4	So that because of that lifestyle inflation started happening and I was spending all my salaries and bonus into getting stuff, you know, like trying to match everybody else around me.
0:41.6	And so I was basically paycheck to paycheck in the first five years.
0:46.0	Welcome Millionaires and future millionaires.
0:49.0	You're listening to the Millionaires Unveale Podcast,
0:52.0	the show where you'll hear the stories and
0:53.5	interviews of everyday millionaires will unveil their decisions, their
0:57.4	strategies, and their portfolio allocations. Now to your host,'s Mattingen.
1:05.0	Welcome back to another episode of The Matters on Web Podcast.
1:08.0	This is episode number 379.
1:10.0	This is the podcast where everyday millionaires spilled the beans on their stacks of green.
1:14.3	I'm your host, Jason.
1:15.9	Stasis not with me today.
1:17.8	We're ready to bring you the unscripted tales of wealth, Warts and
1:20.1	all because who needs a script when you're rolling in the dough?
1:23.0	Join us as we dyed in the net worse and asset allocations of regular folks turn
1:26.4	financial titans.
1:27.4	It's like cribs, but with fewer gold-plated toilets and more practical advice.
1:31.0	If you promise the only edits are to be kid-friendly
1:33.4	so you won't hear any naughty language,
	...

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