Summary

In this conversation, Mike and Leanne share their financial journey, discussing their experiences in paying off their primary residence, managing student loans, and navigating the complexities of joint finances. They are social workers and have a net worth of $1.2 million. They dive into their investment strategies, aspirations for retirement, and the challenges they faced as landlords. Additionally, they reflect on their careers in social work and how it has shaped their financial decisions. The conversation highlights the importance of financial freedom and enjoying life after achieving financial goals.Mike shares insights into his spending habits, memorable experiences related to money, and the financial mindset shifts he has undergone since becoming a millionaire. He discusses the importance of enjoying life while being mindful of spending, the lessons learned from early jobs, and offers valuable advice for those starting their financial journey.

Takeaways

*They paid off their primary residence in nine years.

*Utilized the Ramsey snowball method for debt repayment.

*Investing became a way of life for them.

*They had significant student loan debt but paid it off aggressively.

*Transitioned from separate to joint finances for better management.

*Their first year as landlords was challenging but educational.

*They aim to retire by age 55 or 56.

*Social work provides a stable income and opportunities for side work.

*They prioritize experiences and travel after achieving financial goals.

*They have multiple bank accounts for different financial purposes.

*Mike enjoys spending on family vacations and concerts.

*He once spent $500 on ice cream for everyone at a park.

*His financial habits changed to be more comfortable with spending.

*He learned to accept help from others financially.

*Mike's first job was selling corn for a local farmer.

*He believes in the power of compounding interest for wealth.

*Mike emphasizes not spending more than you earn.

Sponsored by:

Shopify

shopify.com/unveiled

Prizepicks.com Code: Millionaire

Summary

In this episode, Cameron shares his journey in the real estate industry, detailing his rapid rise to a net worth of nearly $2 million at just 23 years old. He discusses his investment strategies, the importance of liquidity, and how he built a successful real estate team. Cameron emphasizes the significance of delayed gratification and living within means while pursuing financial goals. He also reflects on his experiences in managing a diverse portfolio and his aspirations for the future, including a target net income and continued growth in real estate investments.

Takeaways

*Cameron achieved a net worth of nearly $2 million at 23.

*90% of his net worth is in real estate investments.

*He values liquidity to manage risks in real estate.

*Cameron started his real estate career right after high school.

*He built a successful real estate team specializing in creative financing.

*His first investment was a challenging duplex with a squatter.

*Cameron manages a diverse portfolio of 45-50 units.

*He aims to net $100,000 a month from real estate investments.

*Cameron enjoys the process of buying and selling real estate.

*He believes in the snowball effect of building wealth over time.

Sponored by: 

Indeed

Indeed.com/unveiled

Zocdoc

zocdoc.com/milionaire

Summary

In this episode Brandon shares his journey from a modest upbringing in East Texas to becoming a successful nursing home administrator and real estate investor with a net worth of $1.5 million most of which is in single family rentals and duplexes. He is in his early 30's. He discusses his strategies for building wealth through real estate, the importance of education and family support, and his experiences in the nursing home industry. Brandon emphasizes the value of hard work, perseverance, and following one's instincts in achieving financial success.

Takeaways

*Brandon's net worth is approximately $1.5 million, primarily from real estate investments.

*He started investing in real estate in December 2018, using creative financing methods.

*Brandon emphasizes the importance of education, having set up 529 plans for his children.

*He self-manages his 24 rental properties with the help of his wife and technology.

*Brandon's first rental property was just 200 yards from his home, which eased his nerves.

*He believes in the value of sweat equity and often does repairs himself.

*Brandon aims for $25,000 a month in passive cash flow from his properties.

*He maintains a good relationship with his banker to navigate interest rates.

*Brandon's journey highlights the importance of following one's gut instincts in business.

*He encourages others to work hard and stay focused on their goals.

Sponsored by:

Shopify.com/unveiled

Magic Mind

magicmind.com/unveiledjan

Summary

In this episode, Ben shares his inspiring journey from living without running water to achieving a net worth of $1.4 million through real estate investments. He discusses his early experiences in construction, the challenges he faced in his first property purchase, and the lessons learned from partnerships and investments. Ben emphasizes the importance of taking action, learning from mistakes, and maintaining a balance between work and personal life as he continues to grow his real estate portfolio.

Takeaways

*Ben's journey began at 21 when he bought a house for $13,000.

*He achieved millionaire status by age 33 through hard work and real estate investments.

*His net worth is primarily in real estate, with a goal of reaching 100 units.

*He emphasizes the importance of communication in partnerships to avoid misunderstandings.

*Ben learned to be creative in financing his real estate ventures.

*He has faced setbacks, including a partnership that cost him $80,000.

*His approach to investing includes maintaining liquidity through stocks.

*He advocates for taking action and learning through experience in real estate.

*Ben's construction background has been a significant asset in his investments.

*He aims to enjoy life while growing his wealth, balancing work and personal time.

Sponsored by:

ZocDoc

www.zocdoc.com/millionaire

Magic Mind

www.magicmind.com/unveiledjan

Summary

In this episode of the Millionaires Unveiled podcast, host Jace interviews John, a tech professional with a remarkable financial journey. John shares his background as a first-generation immigrant from Argentina, his current net worth of $4.6 million, and the strategies he employed to build his wealth. The conversation delves into his experiences with home equity, investment portfolios, and the importance of financial literacy. John discusses the balance between enjoying life and maintaining financial discipline, as well as his plans for early retirement. This insightful discussion offers valuable lessons on personal finance, investment strategies, and the mindset needed for financial success. John shares his journey towards financial independence, emphasizing the importance of time over money, the challenges he faced in his early career, and the lessons learned along the way. He discusses his aspirations for the future, the significance of family, and the value of education. John also reflects on his financial struggles, the evolution of his investment strategies, and the personal growth that has come with achieving financial success. He concludes with advice for those just starting their own journeys.

Takeaways

*John's journey from a blue-collar immigrant family to financial success is inspiring. *He emphasizes the importance of financial literacy and education. *Home equity played a significant role in his wealth accumulation. *John's investment strategy includes a mix of retirement accounts and brokerage funds. *He advocates for maxing out retirement accounts to build wealth over time. *The transition to enjoying wealth involved setting a budget for experiences. *John credits his wife for helping him balance spending and saving. *He believes in planning and setting financial goals at the beginning of each year. *John's approach to retirement is focused on quality of life and family time. *He aims to retire in the next two to four years, prioritizing health and happiness over wealth.  We're willing to walk away from the money. *I want to be more present there. *I went to a defunct college. *It took about seven years to get my career to the point. *I started seeing the AUM fees and I was like, not doing this anymore. *I just threw myself into books. *The total cost of the trip was about $60,000. *I would love to dress better. *If I can get here, you can get here. *Make your plan. Drive as hard as you can.

Sponsored by: 

Shopify.com/unveiled

Prizepicks.com Code: Millionaire

Summary

In this episode, Glenn shares his inspiring journey from working at Red Lobster to becoming a successful real estate investor with a net worth of around $3 million. Most is in real estate and real estate related assets. 500k is in private notes. He discusses the pivotal moments that led him to pursue real estate, including his strategic investments in single-family homes and mobile home parks. Glenn emphasizes the importance of focusing on income-producing assets and shares insights on transitioning from a W-2 job to full-time entrepreneurship. He also reflects on the mindset shifts that have shaped his financial approach and offers valuable advice for those starting their investment journey.

Takeaways

*Glenn started his journey with a low-paying job at Red Lobster. *He transitioned into real estate after reading 'Rich Dad Poor Dad'. *Investing in rental properties changed his financial situation dramatically. *Focusing on income-producing assets is key to financial freedom. *Glenn emphasizes the importance of mindset in investing. *He believes in the benefits of whole life insurance for wealth building. *Podcasts have been a significant source of learning for him. *He advises against relying solely on 401(k) for retirement. *Glenn's strategy includes private lending for passive income. *He values work-life balance and being present for his family.

Sponsored by: 

Indeed

Indeed.com/unveiled

Magic Mind

https://www.magicmind.com/unveiledjan

Get 45% off the Magic Mind bundle with with my link: https://www.magicmind.com/unveiledjan #magicmind #mentalwealth #mentalperformance

Summary

In this episode Jace and Stacey reflect on the highlights of 2024, discussing the impressive net worth of guests, the impact of inflation on wealth, and the diverse stories of millionaires. Jace emphasizes the importance of financial planning, the various paths to wealth, and the shifts in asset allocation among millionaires. The conversation provides valuable insights into personal finance and investment strategies for listeners. The collective net worth of all the guests this year hit was $862 million. 

In this conversation, Jace discusses various aspects of financial planning and investment strategies, emphasizing the importance of maximizing financial opportunities, learning from mistakes, and the evolving perspectives on wealth and lifestyle. He highlights the significance of having a solid financial plan, the need for regular portfolio assessments, and the value of experiences over material possessions as wealth grows. The discussion also touches on the surprising trends in healthcare savings accounts and personal investment strategies, culminating in reflections on the importance of intentional living and planning for the future.

Takeaways

*The total net worth of guests reached $862.2 million. *71% of millionaires interviewed had a net worth under $5 million. *The Delta between earnings and spending is crucial for wealth building. *It's never too late to start investing and saving. *Inflation has significantly impacted the average net worth of individuals. *There are multiple paths to becoming a millionaire, not just one. *Supplemental income sources are on the rise among millionaires. *Successful millionaires have a clear financial plan. *Risk assessment is essential in financial planning. A lot of people leave money on the table by not shopping for better insurance rates. *Investing in tax-advantaged accounts is crucial, but many forget to actually invest the money. *Regularly changing passwords and using two-factor authentication is essential for financial security. *Portfolio adjustments should be made in response to life events and changing financial goals. *Many millionaires overlook updating their estate plans and trusts. *Financial planning is a long-term process that evolves over time. *Learning from financial mistakes is a common experience among millionaires. *Surprisingly, no guests have reported having $500,000 or more in their HSA accounts. *Experiences, such as travel and premium events, are prioritized by millionaires as they grow their wealth. *Investing in personal health and well-being becomes more important as wealth increases.

Sponsored by:

www.shopify.com/unveiled

Summary

In this episode, Doc G shares insights on his journey post-retirement, discussing his evolving mindset towards spending, the transition from accumulating wealth to decumulating it, and the emotional challenges of withdrawing from his portfolio. He has a net worth of $10 million. His diversification hasn't changed much since he first appeared on the show in the early days when his net worth was just over half of what it is today. He shares how he has started withdrawing from his portfolio and the emotional impact that has had on him. He also delves into his writing journey, particularly focusing on his new book, 'The Purpose Code', which explores the concept of purpose in life and finances. Throughout the conversation, he reflects on the importance of finding fulfillment beyond just financial success and how this shift has influenced his relationship with his children.

Takeaways

*Doc G is busier than ever post-retirement, focusing on passion projects. *He is learning to let go of his fear of spending money. *The transition from accumulation to decumulation is a significant shift. *Withdrawing from his portfolio has been an emotional journey. *Writing has become a central part of his life and purpose. *His new book, 'The Purpose Code', explores the concept of purpose. *He believes that purpose can be both a source of anxiety and fulfillment. *Doc G emphasizes the importance of using various tools for a fulfilling life, not just money. *He aims to model a life of purpose for his children. *The conversation about money has evolved into a deeper discussion about fulfillment. 

Sponsored by:

Wine Access

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 

Summary

Dennis, a cybersecurity professional, shares his financial journey and strategies. He has a net worth of around $2.3 million, with a breakdown of 900k+, in retirement, 300k+ in cash equivalents, 400k in his house, and the remainder in a brokerage and some collectibles. Dennis primarily invests in Roth accounts and believes in the simplicity and peace of mind it provides. He started investing in his late 20s and became debt-free in 2017 after paying off $85,000 in consumer debt. Dennis also has a passion for collecting watches, which he views as a store of value and a way to celebrate financial milestones. His goal is to retire early at the age of 50 with a net worth of around $3 million. Dennis Shea shares his journey in cybersecurity and personal finance. He emphasizes the importance of continuous learning and becoming a student of the subject. Dennis also discusses how he became interested in personal finance through Dave Ramsey's teachings and how he and his wife paid off $80,000 in debt in just nine months. He shares his experiences with expensive purchases, such as sneakers and meals, and highlights the value of investing early and consistently.

Takeaways

*Investing in Roth accounts can provide simplicity and peace of mind. *Becoming debt-free and investing in retirement accounts can lead to significant wealth accumulation. *Having a passion for collecting valuable items, such as watches, can be a way to celebrate financial milestones. *Renting experiences, like vacation homes, can provide flexibility and avoid the hassle of owning multiple properties. Continuous learning is crucial in the field of cybersecurity and personal finance. *Following Dave Ramsey's teachings can help individuals gain control of their finances and pay off debt. *Investing early and consistently can lead to long-term wealth accumulation. *Expensive purchases can be justified if they bring joy and create lasting memories. *Working hard and being consistent are key factors in achieving financial success.

Sponored by:

Shopify

www.shopify.com/unveiled

Connect Team

www.connecteam.com