Being financially independent is what everyone should strive for. For me it’s not about millions, it’s about having the free choice what to do with my time.
Hello, would you care to share how you obtained your millionaire status. Just wondering if this matches with the boring millionaires mentioned in terms of jobs etc
I'm not a millionaire but I feel like one because no debt, no car, low overhead. I know how to be homeless because I was for years. I know what good things are and see them for sale very cheap at thrift stores and do not buy them because I don't need them. I think of how happy another will be when they find that treasure. Rule 1, Don't buy what you don't need or use. Why do people buy yachts? Monthly expense, maintenance. expensive to operate for a day or two cruising cruising in a year? Rule 2. Good deals are here today. Other good deals will be here tomorrow. Don't feel sad that you miss a good deal. Rule 3. Don't make enemies. Make friends but don't tell them how much you have. They don't need to know and all it will do is lead to envy. Rule 4. Treat all working people well. Don't judge someone because of the job they hold or the body that they occupy. A good person is a good person.
Love your rules! Imagine how the world would be if everyone adopted them. Rule #5. Turn around and help the person behind you and ask them to pay if forward.
May I ask how you're able to move around without a car? I'm also team no-car, but I sometimes find it hard to navigate without it. Trying to get rid of it myself!
My wife and I have a 7 figure net worth and we still use coupons at the grocery store and look for other ways to save on everyday household expenses. It’s more a matter of principle than anything else - kind of a waste not, want not attitude. It is important to stay grounded when you attain a high level of wealth and not let your ego run amok.
Some practical wisdom you share. I think one other thing that is in the millionaire mind is, be hesitant about asking others to do things for you that you can do for yourself. This habit will increase your own experience and knowledge as well as contribute to your wealth. This is important earlier in life, because the few bucks you save at that stage in your life will go a long ways towards making you wealthy over time.
Being fit is boring as well Go to bed early get enough sleep No alcohol ever Eat to live not live to eat Strength/core/cardio/mobility 6x/wk Take your multi vitamin Very boring but I like it
You equally deserve the "slow and steady" growth of subscribers... great content quality and thanks for helping those of us out, who may not have parents to teach us these fundamentals.
We hit millionaire status at 35; haven’t reach our FI number yet. We’ll get there in 5 years. We are super boring. 😂No lambos, no big mansions, no waking up early.. but there is peace, and just living life.
Nice, I’m about to turn 35 in October. Not a millionaire. I’ve squandered money and made poor decisions throughout my youth. But great to have learned the hardest lessons by 34. Goal is millionaire by 45!
We’re your investment assets at a million at 35? People use to define it as net worth, but I think the goal for us should be to have investments valued at $1,000,000 (not including house equity, cars, toys, jewelry, etc.)
Cuddos to you Tae, for an excellent video and relevant information. Hard work and dilligence does pay off. After filing for bankruptcy and divorcing at 38 yoa, by age 55, I achieved 7 figures. Followed Dave Ramsey's baby steps and moved forward. Maxed out my 401K for years. Sold my house and moved into a trailer. Did this for 14 years. Am now 60 w/ $3.5... Still wake at 3am and work weekdays. Drive an 18 wheeler and unload tons everyday. Good cardio workout, in Texas heat 😅😅😅. My goal is 4 or 5, then I will retire ...
This was an excellent video. Something told me I was on the right path as I drove my 2008 Dodge Ram pickup to my house of 37 years, from the very unexciting business I own with 6 partners that is growing 15 percent per year.
I also always try to buy used cars and keep for a very long time as well as your home. These strategies alone will not and have not made me a millionaire but it certainly helped. Just curious what type of business are you in?
Tae, as a 67-year-old male who has lived most, if not all of these points, (I Read the book many years ago), your YT feed should be a required course for all undergraduate, (perhaps HS), students.
Started investing in employer matched contribution plan at age 21, never went to college, never made over 6 figures in earned income. Sold investments to buy leveraged real estate rentals at 23, became millionaire at 30 with 10 properties, hit 2 million by pure luck after pandemic craze at 32, still making only 70-80k/year being a delivery driver. Got back into employer matched contributions 3 years ago, drive a 2012 Honda civic that I bought for 2000 bucks pre pandemic which I still use to make food deliveries, most people wouldn't know I'm a millionaire only close friends and family who still think I'm an idiot and I'm ok with that 🍻
Thanks, Tae. Old nurses still wake up before their alarms, even on days off. Staying put makes so much sense. When you even look at closing costs, gosh! Don't necessarily "downsize" but merely simplify your household. We are currently experiencing the "weddings" stage of our children's lives. Wow, what a racket. We have not given them a budget, but rather conveyed the fact that we will help them purchase their first home. It's amazing how "frugal" they can be when spending their own money on a "party." Keep up the good work!
This is such a refreshing video from what is typically on social media. Thank you very much for making this content. This is exactly the type of millionaire I aspire to be rather than the ones we see today on social media. No more dropship or Amazon FBA videos for me.
4:59 pest control owner operator here. 60 - 70% profit margins. I gross 30k personally a month. I take the surplus from my operating company and transfer tax free to my holding company to buy properties, trade stock options and crypto. I have 6 single family houses, about to buy my first 9 unit apartment. Stock options gives me 15k to 25k a month which is 3 to 5% of my cost basis. My holding company is worth more than my operating company, but thats where it started. Bedbugs, cockroaches and mice. You will not feel any recession. Always something to kill. Just need a truck, sprayer and a cell phone.
I guess marriage can work, but the odds of staying married are against you. And yes, divorces are expensive. However, getting divorced from a person whose money values don't align with yours might be just what you need to propel yourself to millionaire status. I know this to be true.
0:40: ! Most millionaires lead boring lives and don't engage in extravagant spending. 3:29: 📚 Financial compensation should not be the primary driver in selecting a career; aligning with personal interests and satisfaction is more important. 6:08: 💰 Divorce is expensive and can lead to financial downfall, while attending prestigious private schools is not common among millionaires. 9:23: 💰 The best way to build wealth is through low-cost index funds, and fun doesn't have to be expensive. 11:46: 💰 Wealthy individuals don't care what others think, drive boring cars, and move slowly. Recap by Tammy AI
So glad you shared this. We hit the million at 39( investment only , not counting home equity. I know I am weird) . Now that I am 42, our life style has not changed much at all, besides more money on travel/ twice a year with our 2 young boys. Also donating more. Still drive the same paid off 2017 Hondas, shop at Walmart , pretty much only shop clothing with discount. And 90% of my younger boy’ wardrobe are from his older brother. Boring indeed .
Hi Tae! Love your videos , hair and car 🚙 lol. I myself am the proud owner of 2 crosstreks :). My kids attend PSU even though they were admitted into more selective schools . I have one spouse and one house . Thank you for your informative and entertaining videos !
LOL. Love that 4:08 cover of crooks listed in Forbes magazine. Yup, do something honest you love for a long time, and you'll get career and life satisfaction, not to mention financial security and freedom. Slow and steady, right Financial Tortoise? :)
Appreciate this video! my friends who are doctors like to brag about their status or they income. I make more than them but am silent about it. I been wanting to flaunt my income more and more in my 30s. I needed to video to remind me to stay humble. Move Silently, like a G
Hey fellow Anteater! 29k?!! Wow, UCI has significantly grown since I graduated in the early 90s. I've been driving Hondas since then.😜 Love your videos. Keep up the good work! Zot! Zot! Zot!
Great video! Just one thought about the public school vs private school point, more people go to public schools therefore it makes sense more millionaires graduated from public school. It would be better to look at the percentage of people who graduated from public schools who become millionaires vs the percentage of people who graduated from private schools who become millionaires.
hit the nail on the head multiple times.. great info here... a lot to extract... love it earned a new subscriber .. slow & steady baby … what about a ROTH IRA though?
millionaire is not that much nowadays. it's the new middle class. when the term was coined, it was almost the present-day billionaire until inflation ate up the value of the dollar
LOL - wake up 8:00 to 9:00 and can sleep to 12:00 if nothing is waiting for me. Still in the top 2% in wealth. Maybe it could have been much more. However, not sure it would have made me happier.😁Anyway: good point that a lot of “boring” companies such as retail can make you a ton of money.
I’m at a crossroads though because I think at 35 we start to see our loved ones pass away and it makes you think… they saved all of their money and never got to spend it. They lost their minds to dementia at 83- some get early onset dementia… do I want to save all my money to retire early only to lose mind? I’d rather spend some of my earnings today on a fancy car or those nice pairs of shoes as long as I pay cash and don’t put myself into a financial mess to reward myself for the hard work I’ve put in.
@@daveo9844 agree that would be the dream. We talk about wealth accumulation but not decumulation or the ability to spend one’s nest egg. I understand there are folks with $100k in their 401k and a home mortgage and car payments at 65 only surviving off of $2700 of social security… but for the folks that have $1-3MM saved at 65 with no debt will need to be taught to spend… go on trips, bring their family, provide time and support to raise their grand kids. Instead they have the world is going to end and hoard everything like they can die with their possessions. Even if you die with $0 in the bank you will bequeath your house and worldly possessions to your kids. The fact that I’ll be in my 50s before my parents die means I’ll have accumulated enough wealth not to need theirs at that point in my life.
Almost every millionaire I’ve ever met you would never know they were one by the way they dressed, the cars the drove, the homes they lived in. They were very simple and plain people who lived super frugally. Only they weren’t living like that to be rich, they were always fearful of stuff happening. They were like chipmunks hoarding everything and buying the cheapest things they could get their hands on. Almost like the show on TLC Extreme Cheapskates. Only a few I met put superficial things at the top of their priorities.
I am happy - for once - to have a video underline the connection between wealth, wages and education. There is far too much negativity in the US against education - its the ticket to a better life: Every single socio-economic indicator correlates positively with more education: health, life expectancy, likehood to marry, to have healthy children, that also get good education, higher income, being happier etc.Sure there are a lot of crappy courses in the USA, but there’s much more to education than just the money.
My net worth is $6 million. I think life is all about balance. If I’m flying short haul I’ll travel economy, however if it’s more than 5 hours I’ll pay extra and travel business class
I am going back to school at age 33 and doing a community college first and then UCF to save money at the same time I am investing 20%of my income in my 401k thanks 🙏 for. The video know I feel good about going back to school 😂😂
Ya, very good list. Only thing I may disagree with is the point about what cars millionaires drive. If you see someone driving an exotic sports car, there is a good chance they have money, or at least a big income. They can easily cost $20,000 - $30,000 a month just to finance, insure, gas, and repair, so it is hard to fake that. But yes, the cars in the $60-$150k range are just broke people with a middleclass+ income trying to convince you they are rich. Same with designer close, and accessories.
I remember seeing an interview with Mark Walberg where he said that he, in fact, wakes up at 4am, but also that he goes to bed at 8pm. It’s less interesting when you know he’s still getting 8 hours of sleep. What’s smart about his strategy is that he’s making the best use of a day. How many of us are doing anything productive after 8pm? Most of us probably sit on our couches, scrolling and streaming, killing time with meaningless activities until we go to bed at 10pm or midnight. It’s much smarter to realize when your day is done and turn in early.
To that point, I could never understand the appeal of late-night talk shows. Who needs to watch TV until midnite on a school day?? Similarly, what's the point of a morning show on TV?? Shouldn't you be out of the house and at work, instead of wasting time watching TV in the morning??
Great video and good advice. Some of the math is a bit suspicious in terms of sample and framing. For example, while more millionaire went to state schools, a LOT of people go to state schools. The fraction of people who went to elite schools who become millionaires is probably much higher, particularly since many start out with substantial family money or at least influence. So if you get the chance, be born rich and go to an elite school, and your odds will improve dramatically :)
I love the tip about not caring what others think. If I had listened to the naysayers when I was younger, I'd still be struggling today. They gave terrible advice!
Want to connect in person? Learn more at 1-1 Money Coaching: www.financialtortoise.com/money-coaching
Being financially independent is what everyone should strive for. For me it’s not about millions, it’s about having the free choice what to do with my time.
Absolutely!!!
And being content of what we have. Trillions won’t matter if our goal post moves constantly
Or, as my mentee says "the ability to give exactly zero f*cks about anybody"😂😂
As millionaire retirees we spend our time traveling, volunteering and socializing. Not boring with life, but boring with our money.
How do you get health insurance? Obamacare?
@@nguyensmsI was retired military reserve and had Tricare . Excellent coverage.
I am older now and have Medicare and Tricare supplement.
@@pensacola321 this is the way. Thank you for your service
Hello, would you care to share how you obtained your millionaire status. Just wondering if this matches with the boring millionaires mentioned in terms of jobs etc
How did you do it please share. What age did you become Millionaire? Age when you retired.
I'm not a millionaire but I feel like one because no debt, no car, low overhead. I know how to be homeless because I was for years. I know what good things are and see them for sale very cheap at thrift stores and do not buy them because I don't need them. I think of how happy another will be when they find that treasure.
Rule 1, Don't buy what you don't need or use. Why do people buy yachts? Monthly expense, maintenance. expensive to operate for a day or two cruising cruising in a year?
Rule 2. Good deals are here today. Other good deals will be here tomorrow. Don't feel sad that you miss a good deal.
Rule 3. Don't make enemies. Make friends but don't tell them how much you have. They don't need to know and all it will do is lead to envy.
Rule 4. Treat all working people well. Don't judge someone because of the job they hold or the body that they occupy. A good person is a good person.
Love your rules! Imagine how the world would be if everyone adopted them. Rule #5. Turn around and help the person behind you and ask them to pay if forward.
May I ask how you're able to move around without a car? I'm also team no-car, but I sometimes find it hard to navigate without it. Trying to get rid of it myself!
Video was ok, just stop plugging your Subaru crosstrack
These are all great! Rule 2 is hilarious. Yes, there’s always a deal or a sale every day of the year! ☺️
boring car club!!! my coworker made fun of my subaru-called it a “farmer ferrari”. that’s ok!! no car payment and it runs great! 😂
My wife and I have a 7 figure net worth and we still use coupons at the grocery store and look for other ways to save on everyday household expenses. It’s more a matter of principle than anything else - kind of a waste not, want not attitude.
It is important to stay grounded when you attain a high level of wealth and not let your ego run amok.
The bookshelves are always a giveaway of the "quiet" millionaire. 🥁🥁
Some practical wisdom you share. I think one other thing that is in the millionaire mind is, be hesitant about asking others to do things for you that you can do for yourself. This habit will increase your own experience and knowledge as well as contribute to your wealth. This is important earlier in life, because the few bucks you save at that stage in your life will go a long ways towards making you wealthy over time.
Being fit is boring as well
Go to bed early get enough sleep
No alcohol ever
Eat to live not live to eat
Strength/core/cardio/mobility 6x/wk
Take your multi vitamin
Very boring but I like it
Suceess habits! Well done.😊
Much better than doing “cool” things like drinking, staying out late, or doing drugs. Keep it up brother.
I didn't do any of your list. And made 3 million by 59 years old 😊
You equally deserve the "slow and steady" growth of subscribers... great content quality and thanks for helping those of us out, who may not have parents to teach us these fundamentals.
We hit millionaire status at 35; haven’t reach our FI number yet. We’ll get there in 5 years. We are super boring. 😂No lambos, no big mansions, no waking up early.. but there is peace, and just living life.
Nice, I’m about to turn 35 in October. Not a millionaire. I’ve squandered money and made poor decisions throughout my youth. But great to have learned the hardest lessons by 34. Goal is millionaire by 45!
@@jangheedavidhan6253 lol yes it is. I only make 55k a year and have $3,000 in savings.
We’re your investment assets at a million at 35? People use to define it as net worth, but I think the goal for us should be to have investments valued at $1,000,000 (not including house equity, cars, toys, jewelry, etc.)
Nice I was a little behind the ball compared to you hit Networth Millionaire status at 42 counting my house. Not counting home equity I hit it at 45.
Cuddos to you Tae, for an excellent video and relevant information. Hard work and dilligence does pay off. After filing for bankruptcy and divorcing at 38 yoa, by age 55, I achieved 7 figures. Followed Dave Ramsey's baby steps and moved forward. Maxed out my 401K for years. Sold my house and moved into a trailer. Did this for 14 years. Am now 60 w/ $3.5... Still wake at 3am and work weekdays. Drive an 18 wheeler and unload tons everyday. Good cardio workout, in Texas heat 😅😅😅. My goal is 4 or 5, then I will retire ...
Great story! 🙏🏻
This was an excellent video. Something told me I was on the right path as I drove my 2008 Dodge Ram pickup to my house of 37 years, from the very unexciting business I own with 6 partners that is growing 15 percent per year.
I also always try to buy used cars and keep for a very long time as well as your home. These strategies alone will not and have not made me a millionaire but it certainly helped. Just curious what type of business are you in?
@@cheaptravelfeelsgood4582 I supply natural gas to residential, commercial and industrial consumers in several Houston area suburbs.
Stealth Wealth for the the win. I read The Millionaire Next Door early in my life and it helped set me on the right path.
Tae, as a 67-year-old male who has lived most, if not all of these points, (I Read the book many years ago), your YT feed should be a required course for all undergraduate, (perhaps HS), students.
Divorce is expensive... But some would say worth it 😅
That just means that forethought is important before getting in ...
That just means that forethought is important before getting in ...
Started investing in employer matched contribution plan at age 21, never went to college, never made over 6 figures in earned income. Sold investments to buy leveraged real estate rentals at 23, became millionaire at 30 with 10 properties, hit 2 million by pure luck after pandemic craze at 32, still making only 70-80k/year being a delivery driver. Got back into employer matched contributions 3 years ago, drive a 2012 Honda civic that I bought for 2000 bucks pre pandemic which I still use to make food deliveries, most people wouldn't know I'm a millionaire only close friends and family who still think I'm an idiot and I'm ok with that 🍻
Thanks, Tae. Old nurses still wake up before their alarms, even on days off.
Staying put makes so much sense. When you even look at closing costs, gosh! Don't necessarily "downsize" but merely simplify your household.
We are currently experiencing the "weddings" stage of our children's lives. Wow, what a racket. We have not given them a budget, but rather conveyed the fact that we will help them purchase their first home. It's amazing how "frugal" they can be when spending their own money on a "party."
Keep up the good work!
This is such a refreshing video from what is typically on social media. Thank you very much for making this content. This is exactly the type of millionaire I aspire to be rather than the ones we see today on social media. No more dropship or Amazon FBA videos for me.
Hey... I'm a Subaru Crosstrek owner too, paid off and keeping for 10+ years... Now I'm working on that $1 mil... Debt Free now as of 7/14/23..
As someone very likely to become a very quiet millionaire in the next decade, this video pretty accurately describes me.
We’re boring millionaires because the value of having that money gives us a peace that no amount of flashy toys can ever hope to compete with.
4:59 pest control owner operator here. 60 - 70% profit margins. I gross 30k personally a month. I take the surplus from my operating company and transfer tax free to my holding company to buy properties, trade stock options and crypto. I have 6 single family houses, about to buy my first 9 unit apartment. Stock options gives me 15k to 25k a month which is 3 to 5% of my cost basis. My holding company is worth more than my operating company, but thats where it started. Bedbugs, cockroaches and mice. You will not feel any recession. Always something to kill. Just need a truck, sprayer and a cell phone.
Nice!
I guess marriage can work, but the odds of staying married are against you. And yes, divorces are expensive. However, getting divorced from a person whose money values don't align with yours might be just what you need to propel yourself to millionaire status.
I know this to be true.
0:40: ! Most millionaires lead boring lives and don't engage in extravagant spending.
3:29: 📚 Financial compensation should not be the primary driver in selecting a career; aligning with personal interests and satisfaction is more important.
6:08: 💰 Divorce is expensive and can lead to financial downfall, while attending prestigious private schools is not common among millionaires.
9:23: 💰 The best way to build wealth is through low-cost index funds, and fun doesn't have to be expensive.
11:46: 💰 Wealthy individuals don't care what others think, drive boring cars, and move slowly.
Recap by Tammy AI
Low key is underrated my friends.
Avoid the 3 Ds - divorce drugs debt
In my humble opinion, boring keeps you out of trouble!
So glad you shared this. We hit the million at 39( investment only , not counting home equity. I know I am weird) . Now that I am 42, our life style has not changed much at all, besides more money on travel/ twice a year with our 2 young boys. Also donating more. Still drive the same paid off 2017 Hondas, shop at Walmart , pretty much only shop clothing with discount. And 90% of my younger boy’ wardrobe are from his older brother. Boring indeed .
Gonna be on the lookout for Subarus/millionaires. Thanks for a great video!
good clear thinking
I recently stumbled upon your channel and I love it! Thanks for all the tips and wisdom 🎉
I love ❤️ your pest control concentration. There are many pest control operators who are millionaire entrepreneurs ❤️🙏🇺🇸🔥🙌🏾👏🏿💪🏾🐐
I love how you mention DAVE RAMSEY often! Cash is King.
Number twelve is a fantastic quote!
Thank you 💴 🙏 always informative. I love your subtle jokes too. I sometimes find myself chuckling 🤭 when watching. So witty. 👍
Hi Tae! Love your videos , hair and car 🚙 lol. I myself am the proud owner of 2 crosstreks :). My kids attend PSU even though they were admitted into more selective schools . I have one spouse and one house . Thank you for your informative and entertaining videos !
At last, someone said it! There was a trend of actors saying that get up at silly o'clock. Mark Wahlberg was saying 3 am at one point!
This is like SO true.... Thumbs up.
I wake up at 5 something and go workout from 6-7. Get back home to shower, supplement or eat and then go to work.
The only problem is that a million dollars isn’t much anymore. We probably need 2 million to retire and just have a boring life.
$3 Mil every year is a good cashflow...
LOL. Love that 4:08 cover of crooks listed in Forbes magazine. Yup, do something honest you love for a long time, and you'll get career and life satisfaction, not to mention financial security and freedom. Slow and steady, right Financial Tortoise? :)
Advisors are generally a waste of money
I would never pay a financial advisor 1% of my portfolio to run it. They can't beat the market.
It makes sense the average millionaire life would be boring. You only have money if you don't spend it.
Appreciate this video!
my friends who are doctors like to brag about their status or they income. I make more than them but am silent about it.
I been wanting to flaunt my income more and more in my 30s. I needed to video to remind me to stay humble.
Move Silently, like a G
I also have the coffee machine similar, coffee maker same 2 way drop coffee liquid. I don't care about time. I only have deep sleep 5 hours everyday
Hey fellow Anteater! 29k?!! Wow, UCI has significantly grown since I graduated in the early 90s.
I've been driving Hondas since then.😜
Love your videos. Keep up the good work! Zot! Zot! Zot!
I'm sure studies would show a positive correlation between how early a millionaire wakes up and how many times he tells everyone about it.
Great video! Just one thought about the public school vs private school point, more people go to public schools therefore it makes sense more millionaires graduated from public school. It would be better to look at the percentage of people who graduated from public schools who become millionaires vs the percentage of people who graduated from private schools who become millionaires.
Very person on a wealth journey needs an espresso machine. PERIOD. 😂
I would love a cup of that delicious-looking coffee while I watch your informative video!
This is one of my favourite videos
Excellent video! Funny how many of the boxes I was able to check! And yes, the husband and I are boring millionaires and we don't care! 😂
Thanks Tae, Im happy to announce I have just invested a healthy $50k into my first Collaterized High-Yield Leverage Swap 😎
13:34 Seriously. It's your life, not theirs. Keep up the great work, Tae.
Moving is not expensive if all you have fit in two suitcases. That's how I've lived in the past ten years.
I don't care how rich I get, I'm not passing on genuine free stuff 😂
Live a simple, quiet life, secure in the knowledge you have what you need (though not always everything you want).
hit the nail on the head multiple times.. great info here... a lot to extract... love it earned a new subscriber .. slow & steady baby … what about a ROTH IRA though?
I really like this video and agree with everything said. Thanks!
8:38 Collateralized High-Yield Leveraged Swaps lol! Sounded very convincing, and this will probably be in the next 'big' financial product!
The coffee looks good.
Jocko willink wakes up at 3:20am… that’s called a sleep disorder not a success plan
yea saw this the other day in a Dave Ramsey video that getting rich is boring
Great job 👏 👍 👌
The most important advise in this video is at 9:25 to 9:30 Thank You!
millionaire is not that much nowadays. it's the new middle class. when the term was coined, it was almost the present-day billionaire until inflation ate up the value of the dollar
Great video, Tae! Your channel is very inspiring.
A superb video.. ❤️
I live in a house on the ocean and watch the waves all day.
Bro got me with collateralized high yield leverage swaps 😂😂😂💀
Awesome vid. Thanks man
Thank you Tae!
That’s just because of inflation. Nowadays having a few million dollars doesn’t afford a sustainable luxurious lifestyle.
LOL - wake up 8:00 to 9:00 and can sleep to 12:00 if nothing is waiting for me. Still in the top 2% in wealth. Maybe it could have been much more. However, not sure it would have made me happier.😁Anyway: good point that a lot of “boring” companies such as retail can make you a ton of money.
Recently found you channel and loving your videos.
Tae is the man. He's the anti grifter and it's inspiring in an age of total bullshit "financial freedom in five years!!!" Fintwit grift world.
Agree
Adding "FinTwit" to my lexicon immediately.
@@Hostyl176 I unfortunately cannot claim this as my own, saw it somewhere else lol
I’m at a crossroads though because I think at 35 we start to see our loved ones pass away and it makes you think… they saved all of their money and never got to spend it. They lost their minds to dementia at 83- some get early onset dementia… do I want to save all my money to retire early only to lose mind? I’d rather spend some of my earnings today on a fancy car or those nice pairs of shoes as long as I pay cash and don’t put myself into a financial mess to reward myself for the hard work I’ve put in.
We should aim for zero $ by the time we’re dead 🍻
@@daveo9844 agree that would be the dream. We talk about wealth accumulation but not decumulation or the ability to spend one’s nest egg. I understand there are folks with $100k in their 401k and a home mortgage and car payments at 65 only surviving off of $2700 of social security… but for the folks that have $1-3MM saved at 65 with no debt will need to be taught to spend… go on trips, bring their family, provide time and support to raise their grand kids. Instead they have the world is going to end and hoard everything like they can die with their possessions. Even if you die with $0 in the bank you will bequeath your house and worldly possessions to your kids. The fact that I’ll be in my 50s before my parents die means I’ll have accumulated enough wealth not to need theirs at that point in my life.
They stay married because they don't want to lose half their wealth.
THATS KINDA SAD! IF YOUR NOT HAPPY GIVE HER HALF AND KEEP THE OTHER HALF IF YOUR SMART YOU CAN DOUBLE YOUR MONEY IN 3YRS ! 😊
Congratulations on your financial success. I hope that if I follow we can make a boring party one day for all your followers
Hilarious that people think their sleep schedule impresses others.
Super good video.
Almost every millionaire I’ve ever met you would never know they were one by the way they dressed, the cars the drove, the homes they lived in. They were very simple and plain people who lived super frugally. Only they weren’t living like that to be rich, they were always fearful of stuff happening. They were like chipmunks hoarding everything and buying the cheapest things they could get their hands on. Almost like the show on TLC Extreme Cheapskates. Only a few I met put superficial things at the top of their priorities.
I am happy - for once - to have a video underline the connection between wealth, wages and education. There is far too much negativity in the US against education - its the ticket to a better life: Every single socio-economic indicator correlates positively with more education: health, life expectancy, likehood to marry, to have healthy children, that also get good education, higher income, being happier etc.Sure there are a lot of crappy courses in the USA, but there’s much more to education than just the money.
It's always the quiet ones...that are millionaires.
13:27 that sums it up. Bam!
My net worth is $6 million. I think life is all about balance. If I’m flying short haul I’ll travel economy, however if it’s more than 5 hours I’ll pay extra and travel business class
Thanks Tae great video
I am going back to school at age 33 and doing a community college first and then UCF to save money at the same time I am investing 20%of my income in my 401k thanks 🙏 for. The video know I feel good about going back to school 😂😂
A new Mazda is 65k, and a used one isn't too much less. A descent, safe car will still be expensive
I think I hit the millionaire milestone 10 years ago (if you count the 401k). I still drive my 2005 Honda Civic as my main car.
That's a pretty swanky coffee maker!
I'm thinking I may need to splurge on that machine myself?!
My manual espresso machine and grinder have saved me thousands of dollars since I bought them!
Best investment EVER!
(Once you learn to use them)
@@steveking6506please share the brand of each
31 years old with 2 houses and 170k in my 401k. I drive a Subaru STi .... middle ground between nice car and economy car, right?
Ya, very good list.
Only thing I may disagree with is the point about what cars millionaires drive. If you see someone driving an exotic sports car, there is a good chance they have money, or at least a big income. They can easily cost $20,000 - $30,000 a month just to finance, insure, gas, and repair, so it is hard to fake that. But yes, the cars in the $60-$150k range are just broke people with a middleclass+ income trying to convince you they are rich. Same with designer close, and accessories.
Thanks for another wonderful video!
I remember seeing an interview with Mark Walberg where he said that he, in fact, wakes up at 4am, but also that he goes to bed at 8pm. It’s less interesting when you know he’s still getting 8 hours of sleep. What’s smart about his strategy is that he’s making the best use of a day. How many of us are doing anything productive after 8pm? Most of us probably sit on our couches, scrolling and streaming, killing time with meaningless activities until we go to bed at 10pm or midnight. It’s much smarter to realize when your day is done and turn in early.
To that point, I could never understand the appeal of late-night talk shows. Who needs to watch TV until midnite on a school day?? Similarly, what's the point of a morning show on TV?? Shouldn't you be out of the house and at work, instead of wasting time watching TV in the morning??
People need to unwind after a stressful day at work and dinner. We aren't like smartphones that can charge at will.
I’m actually quite productive after 8PM.
8PM -2AM my most productive hours
Great video and good advice. Some of the math is a bit suspicious in terms of sample and framing. For example, while more millionaire went to state schools, a LOT of people go to state schools. The fraction of people who went to elite schools who become millionaires is probably much higher, particularly since many start out with substantial family money or at least influence. So if you get the chance, be born rich and go to an elite school, and your odds will improve dramatically :)
LOL, good point.
was going to comment this.
This is why the millionaire study from Ramsey is bogus. There’s no control group of people who didn’t become millionaires.
100%. I'm often ranting about this. The connections and networking is far better.
I love the tip about not caring what others think. If I had listened to the naysayers when I was younger, I'd still be struggling today. They gave terrible advice!
Most millionaires are just old people. Average age is like 68 and that’s why this mindset is so boring. Have fun and be responsible that’s all.
I wake up at 7 PM to hustle harder bro.
I laughed at the pack of kirkland tp in the corner. Been there done that.