389: Net Worth Of $1.0M - MMA, Car Repo & Business Ownership

Millionaires Unveiled

Jace Mattinson

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

4.8 • 872 Ratings

🗓️ 23 December 2024

⏱️ 49 minutes

🔗️ Recording | iTunes | RSS

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Summary

Billy and Melissa have a net worth of $1.0 million. This is in various investments including the market and real estate. They are in their late 30s and are business owners. They recently relocated from a high cost of living area to a low cost of living area to participate in geoarbitrage. They started in a big hole that included over 100k in debt and had a car repossessed at one point. They emphasized the importance of staying the course, overcoming adversity and continuous improvment.

Takeaways

*Start investing early and pick a strategy that works for you
*Consider risks in life and how they may affect you in the short term and long term
*You can make mistakes and still overcome them especially when you're young
*Entrepreneurship can provide fulfillment and generate a lot of income but it isn't easy

Transcript

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0:00.0	and I do like the idea of I am a martial artist like I mentioned you know in martial
0:06.1	arts you have the different ranks and the different belts you're trying to move
0:09.8	forward with I do like that with the finances as well I like setting different
0:14.6	benchmarks and seeing things grow so it's not necessarily for any particular
0:19.2	reason but just to have little goals and have little stepping stones.
0:23.2	I like the idea of making enough with investments to cover expenses.
0:27.3	I think that would be a cool next target for us.
0:30.0	And then there might be something else after that.
0:32.8	So let's say it's the second million or whatever it is.
0:36.4	And we look at that.
0:37.7	It is this thing that I'm thinking about doing and I'm assessing risk,
0:42.3	how does it affect the vision that we have for our family?
0:46.4	Is there going to be a decent chance that it's going to mess that up
0:50.5	or it's going to really affect things in a negative way, that might take it off the table.
0:55.3	If it looks like there's a pretty good shot, whether it's something I'm already doing and I
0:59.8	see some growth trajectory, I might look at that and say, okay, let's go all in over here.
1:04.3	And that's kind of what happened with this other business.
1:06.1	I just noticed a, I guess kind of like a hole in the market.
1:15.3	And I started dabbling and, I guess, kind of like a hole in the market. And I started dabbling and, hey, let's see what happens here. Not that it's been like all upwards, but I saw some good signs, whether it
1:20.7	was people saying things or just the results that were happening and then kind of putting more
1:27.2	into it from there.
1:28.0	That's kind of my strategy.
	...

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