387: Net Worth Of $1.1M - This Is The Golden Age Of Investing

Millionaires Unveiled

Jace Mattinson

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

4.8 • 872 Ratings

🗓️ 9 December 2024

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

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Summary

Ryan, an officer in the National Guard, shares his journey to becoming a millionaire and his plans for retirement. He discusses his net worth, which is currently $1.1 million, and how he achieved it through investments and a pension from the military. His pension could be worth $3-$5 million. Ryan is in his late 30's. He emphasizes the importance of starting to invest early and taking advantage of compounding interest. He also talks about his passion for travel and his plans to pursue entrepreneurial ventures in retirement.

Takeaways

*Start investing early and take advantage of compounding interest
*Consider the benefits of a pension and other retirement accounts
*Travel can be a worthwhile expense and a rewarding experience
*Entrepreneurship can provide fulfillment and additional income in retirement

Transcript

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0:00.0	A, start, we are living in the golden age of investing.
0:05.0	I told you when I had that Roth IRA, I had to write a check every month to, you know, that mysterious brokerage dude and send it in the mail and stuff like that.
0:13.8	And then, you know, they charged fees.
0:16.5	I remember when Scott trade came out and it only charged $8 a trade. So if you have made a trade,
0:23.1	you'd have to make at least $16 on the stock before you made one cent of profit. But I say that
0:28.7	to say is start investing now. We are in the golden age. It doesn't cost anything on most of these
0:35.0	platforms. If your platform does charge you something, you're using
0:37.7	the wrong platform. And anything you put in now is just worth, it's just going to be worth so
0:42.5	much more in the long term. That compounding interest, it truly is the eighth wonder of the world.
0:48.6	So start investing, keep investing no matter how little it is. That's my big piece of advice.
0:53.9	Welcome millionaires and future millionaires.
0:56.7	You're listening to the Millionaires Unveiled Podcast.
0:59.6	The show where you'll hear the stories and interviews of everyday millionaires will unveil their decisions, their strategies, and their portfolio allocation.
1:08.8	Now to your host, Jace Matanson.
1:15.2	Welcome back to another episode of the Millers on Vail podcast. This is episode number 387. This is the podcast where everyday
1:22.1	millionaires spilled the beans on their stacks of green. We're your host, Jason Stacey, ready to
1:27.0	bring you the unscripted
1:27.8	tales of wealth. This is the podcast where everyday millionaires spill the beans on their stacks of
1:32.8	green. We're your host, Jason Stacey, ready to bring you unscripted tales of wealth. Join us as we
1:37.8	dive into the net worse and asset allocations of regular folks turn financial titans. We promise
1:42.9	our only edits are to be kid-friendly.
1:45.2	It is that time of year again, the time of year where everybody spends a lot of money on
	...

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