How I Became a Millionaire
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- เผยแพร่เมื่อ 5 ก.พ. 2025
- How I Became a Millionaire in Less Than 15 Years. Pay yourself first, take advantage of company match 401k, use tax advantaged investment accounts (401k and ROTH IRA) / real estate to grow wealth, learn an in demand skill, start businesses, own assets, avoid paying too much on depreciating liabilities (cars), ...
How I built a million dollar net worth before the age of 40. How I became a millionaire before age 40. How you can become wealthy with consistent investing over a long time period.
Disclaimer and safe Harbor statement:
Topics discussed may include predictions, estimates or other information that might be considered forward-looking and results are not guaranteed. Prior performance does not guarantee future performance. This is not individual investment, legal, or tax advice. Investments carry risk and can lose value. Make sure to complete your own due diligence and work with licensed investment, tax, and accountant professionals when making financial decisions. Topics discussed and opinions provided do not represent any current or past employers of Financial Freedom 101 staff and are given as personal opinions. Financial Freedom 101 is not responsible for any of the financial decisions that you make. Financial Freedom 101 typically has investments including, but not limited to positions in diversified ETFs and mutual funds such as SPY, VOO, SWPPX, FXAIX and others which may contain holdings in the companies discussed. The content of this video is for entertainment purposes only.
Alll content, no fluff, this is why i subscribe. dude seems like a geniuely good guy. cheers
Thank you, I appreciate the compliments. If you ever want to talk I go on my discord channel a couple of times a week after 8 pm if you every want to talk. discord.gg/TpcxEGVrY3
This shows it takes time to build wealth. Finally something actually practical on how one accumulated wealth overtime. Good job!
Exactly, it is like building a house it takes some time to lay the foundation and let it cure then brick by brick or board by board the house quickly takes shape, but it was the foundation that took more time and no one noticed. 15 years sounds long in the beginning but looking back the time went quick.
I did something similar at 3:37 when I bought my condo in my mid-20s. I took out a penalty-free 401k loan to cover the down payment gap. The cool thing is, you're paying yourself back with interest, so it’s a win-win, as long as you can manage it financially. I also paid extra toward the principal over time to get rid of PMI. Another strategy to remove PMI is to keep an eye on local real estate trends. When there’s a demand in the market, I had an appraisal done, and the increased value helped me get rid of PMI. Appreciate you uploading this - always great to hear other people’s experiences. Subscribed! Cheers!
Thank you for the comment and joining the channel. If you want I also have a discord where I talk with people regarding business ideas or just talk and play games. It is all free: discord.gg/TpcxEGVrY3
Could you do a video on your occupation, why you chose to do it. How it panned out. What you would do differently if you could. What you appreciate about it. What you don’t.
That’s a really inspiring story and I am trying to put about 20k into VOO every year. I make about 50k so I’m living pretty modestly. Look forward to your next economic update
Be consistent and have long time horizons and you can do it. I would also recommend some diversification in real estate (home) and continue to learn more skills to improve income over time.
All investments carry risk and can lose value. Past performance does not guarantee future performance.
Look, I'm not saying that this is "wrong", per se...
I just want to say that when you categorize wealth as being a millionaire in a capitalistic society, you are doing a TON of harm to yourself, other people, and the environment.
Being in real estate is rent seeking. You are exploiting others to make money for yourself. By definition, to maximize your benefit, you have to buy properties at inflated prices, pricing out other people, and cut costs in order to make as much money as possible.
It's just as bad with stocks, because you're buying into massive companies that understand exploiting consumers and the environment in order to maximize profits.. to make you money.
Redefine wealth. Wealth is only what you need to cover your monthly expenses. Real wealth doesn't necessarily mean quit working. It means work becomes optional and you can spend time in more valuable endeavors.
Don't get tricked into "financial independence" for you... because someone always has to lose, or become exploited, in a capitalistic system.
@ The way I see it, we live in the society we live in and there isn’t enough momentum to change that anytime soon. So I will try my best to achieve freedom in it, but literally everything you do is technically exploiting. Having one million dollars is enough to own a house and retire somewhat modestly. A million dollars now isn’t what it was that long ago. If you don’t have a million dollars you are going to work until you die and I don’t want that, I only have the one life.
@CyanTeamProductions Your rationale is the same as people in Germany that benefited from the government sponsored genocide. You're okay with it, as long as you get yours.
Also, you can 100% become financially independent without throwing money into homes and stocks. Being a rent extractor by exploiting massive companies exploiting millions of people isn't adding any real value to the economy.
It's pretty shitty, tbh.
@@Modelslacking let me guess, you want the government to "take care" of everyone with taxing the rich so we can live happily ever after. Please come back to reality.
He is choosing to invest his hard earned money. Accumulating some wealth doesn't make you a morally inferior person.
I had a similar trajectory but was a few years ahead of you. Now it is truly amazing how exponential it becomes and am closing in on multimillionaire and I expect that to happen early next year. Gotta save and be willing to be “boring”.
Wished I kept track of my journey like this. Be sure to write it out and post for prosperity. Amazing stuff!
$170,000 in debt right now after graduating from Stanford with my Master's degree... Just writing that number is making me wince. Unemployed for 9 months before finally reaching the last interview of this job that really seems like they are about to hire me after a 2 month process. $140k income. This was comforting to watch even though my numbers percentage-wise are worse. And I think there is a lot of room for growth. I want to make it a goal to beat this debt within 5 years. Thank you for the videos
Make a plan and stick with it.
You're good bro. You got an ivy league degree the world is your oyster. Congrats on the degree by the way. One piece of advice, live and enjoy your life too! It's not all just about money. Find Christ also before you die or nothing else matters.
@@chadpilled7913it ain't an ivy league degree
Your mother would be proud, keep up the good work my man
One of the most powerful things about building wealth is progress becomes easier the more you do it. The first 100K feels impossible, but once you reach it, the next 100K is surprisingly easy.
Don’t see it’s true
Great job! Hard work, patience and using what you got. I bet your next 15 years will be amazing with plenty of options.
11% company match did a lot of the heavy lifting here. That compounds and adds up in addition to the standard contributions like crazy. Ive only got a 4% match, and less salary. Still recently hit $1MM household net worth with my wife's additions.
Yea, I saw that 11% company contributions and I was like damn that’s super high. My last company was really good and matched up to 8% and gave 2% for free so 10% total, but that’s a match, so really the company contributed like 6%. Just 11% comp contribution is really freaking good.
I really wanna say, thank you for putting these videos out as a resource. I’m 25 and still relatively early in my financial journey in the grand scheme of things. all the content you’ve been posting is invaluable and I’ve been saving for future references!
Congrats and thanks for sharing your story. My husband and I are both near 40 and should (hopefully) hit 1M in the next couple of years. But - it was a long journey to get where we are now and I remember when we were in our 20s, renting an apartment together and working to pay off our student loans. It's easy to forget those days once you finally start feeling more comfortable financially! But you are 100% right that staying frugal and avoiding life style creep are so very important. Your year by year breakdown is so helpful to show that time and consisntent investing really pay off. Thanks for sharing your mistakes too. We certainly learn from them and I have made my fair share :-). You've motivated me to work hard in 2025 (and to maybe undo a little bit of that "life style creep" that's appeared! Best wishes on your journey. 😊
The transparency in this video is amazing. Thank you! A real start to finish millionaire story.
Thank you for sharing your story . I am 40 and have finally reached 200.000 after losing money in property as well as inheriting debt from my deceased father . I feel sad I could be at 500k but such is life . What I am most proud of is I have learnt the hard way and can give my child this wisdom with the hope that he will be a Millionaire by when he is 40 . Thank you for the wisdom .
I think another lesson here is the advantage of tracking your progress as you go. I feel like it helps you to not only stay motivated to see how far you come along in your financial journey, but also to show how consistency is key and that this is indeed playing the long game to win. Thanks for sharing!
Thanks for sharing your experience! There is not so much disciplined and consistent people like you've been, and that's really inspiring. I know you'll reach your freedom objectives! Have a good one!
Thank you for being realistic with the path you took. We need more people like you with real stories. Not these internet gurus. Subbed, liked and will follow.
What is your degree in? And what do you do?
Congrats on reaching 1M mid 2024 man love the breakdown and the detailed documentation over the last 15-16 years, thanks for sharing and inspiring!
Thank you.
This is such an underrated channel 🤯
Congrats! Loved your video!!!
Great video! Amazing breakdown
Great job!!! Truly appreciate your openness and charts. I share them with my young adult kids besides using them for my own motivation as a mature older adult. Huge Thank you….
It takes knowing someone that has done it for some people (my family) to realize what can be accomplished and then they wish that they did it sooner. I also plant fruit trees and no one was interested until 4 years later when there is a ton of great tasting fruit on the trees then everyone gets excited. Investing is basically the same as growing a tree in that nothing seems to happen for years and then it can become impressive.
I think these videos are already useful as it shows people step-by-step how you did it and the fact that just about anybody can do it.
And also that building wealth starts off really small but is exponential as it grows and even $1 here or there, it does make a massive difference in the long run
I think a lot of people have put off because I think we’ll watch the point I only have $10 or $20
Thanks for another awesome video explaining the detailed journey to 1M! Congratulations on all your hard work and dedication to reaching this amazing goal! Can't wait for the next video!
Thank you
Good vid. I like the starting poor aspect to reach the first $50k then the tiers.
Simple, simple, and simple!
This is a great video--intruguing! But if you haven't already, it would be great if you could create some videos that explain how you increased your earned income (as an engineer) and how you increased your management income (from the bakery and farm). Much of this video seems focused on investment income, which is quite passive in this case.
Congrats and great to see this level of transparency and explanation on the methods that are hard but actually replicable by most people. Great to see how much value can be derived from increasing home equity value which is at the same time by far the largest leverage most people will use in their lives. Crazy amount of dedication and effort, you deserved the financial independence and I bet it feels amazing to see your family prosper. To go from selling scrap metal to being a self-made millionaire in just above a decade, and at the same time recognize that money only provides you with freedom and will not solve your problems, well done sir very glad YT recommeded your video.
Yeah, I recycled over 30,000 lbs of metal in 1 year and used a good bit to buy my then girlfriend a car who I eventually married. I still hold on to aluminum, copper, brass, lead as I melt them down into ingots now for projects for sand casting and have a 3D printer to create the molds. My wife enjoys not needing to work for an income. I will probably always work as I enjoy it, but I want to get to a point where I don't need to work indefinitely which is around $3 million to feel comfortable.
Great video! Very interesting to see your climb to the magical million dollar net worth. I’m sitting at 750k, wondering if I’m ever going to get there. I have only a Roth and a brokerage account…any thought on where I could keep my bonds? I hate to give up the tax-free growth in my Roth account, but I also understand that bonds are not utilized in a taxable count weigh in an an efficient way. I’m kind of stuck on what to do.
Wow very nice~20 million that's a very nice goal. You have done well with a million by the age of 35? I'm guessing. You have unlocked the secret, which isn't anything all that surprising......have a decent job with a decent income. Live beneath your income. Invest the difference. Add some patience and persistence. Enjoy the journey because I think (at least for me) is where most of the joy comes from. Much solid practical advice is packed into this video.......good job. Also a very, very solid market during the time span here you have had a strong tailwind. Which is not a typical 15 year period of stock returns, my math from your whiteboard came to 210%/16years = 13.1%
Does your 401k position in the S&P500 bias in favor of the Mag 7? Mine does and I am just wondering if you are in equal weighted S&P position or not. Congratulations on $1M.
I enjoy your video style. You have wisdom beyond your years and the subsequent $M's are going to come for you quicker than the first one. Thanks for putting this out - Cheers
Thank you, assuming a doubling period of around 6 years with the additional contributions added in, I should be around $4 million by 50 and $16 million by 62 without counting on the farm and additional income.
@@financial_freedom101 It really depends on the growth of the stock market. Had you invest in SP500 in 2000 you would have seen a few market corrections and break even only in 2013. But had you invest in SP500 in 2013 you would have made 315% by now. So this is just pure luck to live and invest at the right time.
what are your other youtube channel names? 19:07 ... investors love the S&P because your investment principle roughly doubles every 8 years without doing a thing. nice video!
Wow that crazy I never knew the ROI was that significant I was watching a video by Kevin Oleary and he mentioned this
Car Repair Channel: youtube.com/@MountainManMo
Family / Home Channel: youtube.com/@WelcometotheFamily1
Discord Link: discord.gg/TpcxEGVrY3
Amazing work. It really pays to work hard and diligently play the long game.
Great video content. I am curious in 2024 your income was north of 200k. Wasn't there an income limit for ROTH IRA contribution? Your note said you invested there in 2024.
Congrats! Discipline, dedication and patience pays off.
thank you for the great vid and 100% honesty on your life ups and downs
Thank you for watching and I hope that people can see that it is possible to build wealth even starting with significant debt. I grew up going to churches and food banks when we were unable to afford food and going months without hot water and several other issues and wanted to make sure my family would never have to go through what I went through as a kid. I put the channel and everything as a resource for my family if anything happens to me and to help others realize how wealth is created, how to start businesses with very little money, take advantaged of tax laws, etc.
That’s a hell of a grind good for you.
Very inspiring! Greetings from Germany!
Thank you, I was just in Breman, Staufen, and Frankfurt and had fun driving between them on the autobahn. The roads are much smoother than most highways in the US. No matter how fast I drove someone was always passing me. Once I get up to 180 km/hr I did not want to push it any further (my fear of blowing out a tire).
@@financial_freedom101Thank you so much for your reply! I can absolutely relate to your experience. Driving at 180km/h is starting to feel somewhat unsafe, depending on the car you're driving. The fastest I ever did was around 290km/h (180mph) in a Porsche 911 (not mine), but that was really unsafe, looking back at it. My crusing speed is normally between 120-140km/h. Driving at that speed is also much better for your wallet! And I found the highways in the US to be quite well maintained as well, but I've only ever been to the Western US. I always love to visit, its a beautiful country with great people.
Why, you invested only on the sp500 or individual stocks?? Thanks❤
Mostly S&P500 around 80%, 10% international, and the last 10% is sometimes in bonds/cash/mid cap/small cap/other investment strategies (put options/inverse etfs). I also own businesses and real estate.
All investments carry risk and can lose value. Past performance does not guarantee future performance.
Thanks for inspiring us to prove its possible
Now i understood why the tortoise won the race of life (100 plus yrs) vs the Hare which had momentary wins but lives 10yrs
Great video, but I’m completely lost on the 400-800k for the farm, as well as those numbers for TH-cam you don’t include. Can you explain in further detail? Thanks
Imagine hitting $1M net worth and still grinding for $20M… respect. Most people would have tapped out. 🤯
I love the amount of detail in this. Thank you so much
Thank you, I try to put enough detail in videos to show how people can practically do something. I aim to use these as references when friends and family ask me how I did something so I do not have to constantly repeat myself.
Congrats, and good job 👏
Thank you
Well done! Great to see hard work and discipline paying off! 👍
Thank you for watching and I hope that people can see that it is possible to build wealth even starting with significant debt. I grew up going to churches and food banks when we were unable to afford food and going months without hot water and several other issues and wanted to make sure my family would never have to go through what I went through as a kid. I put the channel and everything as a resource for my family if anything happens to me and to help others realize how wealth is created, how to start businesses with very little money, take advantaged of tax laws, etc.
You were fortunate to start your wealth journey as the country was rebounding from the lost decade…
Congrats - this is awesome. Got my kids already investing.
That's great to pass on the knowledge to your kids. I wish I know how to invest when I was in my teens as I have been working since I was 12 years old, but grew up poor. I would have been much better off investing compared to the 2% interest I got when I had the money in the bank. Also I wish I know about ROTH IRAs back then too.
I'd be a millionaire too if I worked at a company matching 11%!
Take full advantage of company match, pensions, stocks, etc. and use tax advantaged accounts to reduce tax burden. All help especially over the long run. I stayed at a company that paid a little less, but the company contributions, healthcare, and other bonuses and awards more than made up for the lower salary.
No it wasn’t the match. It was his discipline. Every year putting away as much as possible. If he didn’t invest a dime, there’s no way he’d be close to $100k let alone $1 million.
Top of the morning coach
Good morning. Thank you for watching and commenting.
When you said dumpster diving I first thought you meant it as sarcasm lol. Congrats man.
Yes, I was actually climbing in dumpsters with gloves and boots of course. I was pulling out copper coils from the old TVs, electrical cords off broken appliances, breaking microwaves down for light iron / copper in the transformers / large magnets, metal bed frames, etc. basically any metal people threw out in the dumpsters or put in the trash. People would also call me to take away their metal trash. I learned how to fix a lot of things by taking everything apart. I would also hold onto some common parts to fix other things. I also found gaming systems and would sell them to retro gaming stores and old vinyl albums and sell them to second hand music stores.
Currently at 240k at the age of 35… hoping to reach 500-600k at the age of 42 while I invest 2500 per month and retire in Mexico. Already bought a home there so the 500-600k will be gravy. I might also open up a brewery /restaurant in Mexico.
Good luck man
You are off to a great start, consistent investing over a long time period with some diversification tends to work out well. Best of luck.
All investments carry risk and can lose value. Past performance does not guarantee future performance.
I'm 31, I feel pretty fortunate to have made close to 100k pretty much immediately out of college. After about 4-5 years of investing, have about 250k in financial assets (220k post-tax, 350k NW) hoping to save close to 100k these next two years, then quit my 9-5 and just do my side-gig job which should make about I'm hoping about 120k in two years time.
Just want to hit close to 500k financial assets so that I don't need to invest as heavily anymore and can work less. 500k at 33 is basically 1M at 40, 2M at 47, 4M at 54, then I can fully retire or do whatever I want.
Congratulation on growing your wealth in your early 30's. Your older self will thank you. Assuming an 11% rate of return that seems reasonable. I do like having more than one income so there is not as much stress if one income source dries up which allows my side businesses to grow without stressing out if one makes a little less say over the winter months.
Love the video am a new creator and am trying to survive and then when the time comes help others this is important to me love your video
Thanks for sharing all this info. You've done a great job! Congrats! Great role model to follow for many of us.
PS: Funny that almost every author who made a video about investments mentioned ru-ua conflict as a reason of 2022 recession, which is understandable. b/c it was the main reason US politics screamed about on media. But almost noone mentioned Fed money printing and supply chain disruption during covid and huge inflation that was caused by them. which was a real reason of market decline.
Congratulations. So inspiring.
Thank you for watching. I hope more people can realize that it can be done. It does take a bit of hard work and consistent investing / living below ones means and a decade or more.
Very good video and congrats. Most people don't realize it can take 10 years or more to be an "overnight success".
I am just curious, what do you define as investment income? Is that the value of your dividends? Increased value of your portfolio? Realized gains? I really respect you and your channel, am trying to replicate a similar course myself. Take care sir
The $100,000+ this past year was a combination of dividends, stock value increase, interest from CDs / High Yield Savings / US Savings Bonds. It took a while to get to this level and last year was a good year. Focus on learning skills to earn more money and with each pay increase put most of the increase towards investments until you max out all tax advantaged accounts (401k, IRA, etc.). over the last 15 years I have averaged more than a 4% increase each year if you take into account all the promotions and I would put the additional 2%+ towards my investments each time until I maxed out the limits.
All investments carry risk and can lose value. Past performance does not guarantee future performance.
@ That makes sense, I appreciate the info. Trying to get to a point where I can live off interest/dividends/other investment income as you’ve mentioned. I’m working towards getting my CFEd and starting a financial counseling business. Thanks again for the reply, hope you are doing well sir
I’m assuming you are just investing in the s and p ?
I am well on my way. I have financial freedom
Curious question, outside of investing. I make about 46k no 401k matching, I can only contribute $50 a week Roth IRA. Living is expensive, rent groceries. Did you spend any in dating? A gf or wife? It’s expensive, being a cheapskate never work with any girl, in my experience.
I spent money taking my girlfriend and now wife out from 2009 still to today. We don't drink soda or alcohol and we go out 1 to 4 times per week at good tasting restaurants usually during lunch specials and only around $25 to $50 for the total bill.
You didn’t mention loaning money to relatives? That’s what I experience anyway and now am saying no! Great story of persistence and focus. Thanks for sharing.
I don't loan money to relatives and friends. I only give gifts to family and friends with no expectation of repayment. It is not worth ruining a relationship with friends or family.
Started investing in 2009 … must feel good man.
I admire you. Thank you
7:40 were you working additional 50 hours a week in the bakery in top of 40 to 50 hours a week at your job?
Yes, I was working nearly 100 hours per week it was a rough several months and note that I did not have children back then. I currently work around 60-70 hours per week. But work can be fun like playing in the dirt and planting trees with my daughter or renovating a room in the house for my family while filming it.
Don’t try to time the market! It has cost me a fortune. I’m 56 and worth a couple million with 401K and the house, etc, but it probably could have been 4-6 mil. Stick to the long game and S&P 500 index investing. Way more effective and less stressful!
Pretty much how everyone did it in the last 15 years. Quantitative easing, dip buying, instant wealth.
If inflation stays elevated asset prices tend to rise quicker as the value of money decreases which is why I own assets and not a lot in cash other than an emergency fund in high yield savings / CDs.
amazing video as usual, man thank you for what you do
Nice m8. How old are you
39
@financial_freedom101 wow so young yet so wise. How many books do you read a year
Whiteboard with tiny text. This is gonna be good.
Thanks for the comment. I see you also like games and plants (Bonsai) I have rooted branches to grow fruit trees. I have a discord channel if you ever want to talk or play games. discord.gg/TpcxEGVrY3
I reduced my contribution to my retirement account to save up for a down payment for a house, is that a good idea?
Typically buying a home if you will live there for at least 7 years works out well (depending on the area so work with a knowledgeable agent in your area). Remember if you put money in a ROTH IRA it can be used ($10,000 of growth) for the purchase of a primary home. One thing that has worked through history over long periods of time are owning assets that appreciate in value such as real estate and businesses/stocks. I like having assets in different classes to help with diversification and no mater what I need to live somewhere. Everyone's situation is different and no one knows for certain what will happen (will stocks out perform home values as they have in the past?)
All investments carry risk and can lose value. Past performance does not guarantee future performance. This is not personal investment advice as I am not an not a licensed advisor and I do not know your personal situation nor risk tolerance.
What company gives you an 11% match? That’s amazing!
It is 4% match and depending on year another 7% in some combination of pension / stocks. These are found in Pharma companies. I am being a little vague as I do not want to give too much personal information on the internet (name, address, employer, etc.). I hope you understand.
2009 was the perfect time to start 2008 was a huge crash 👍
He smiled for the Thumbnail. ❤he’s so cute. 😂
TH-cam picked that still image from the video. Usually I have some other awkward expression on my face in many of the thumbnails. I should probably work on my thumbnails more.
I have roughly 5k of extra cash for the investment. What is your suggestions? Real estate or s&p 500?
So why is your net worth in a positive when you got your mortgage. You hadn’t paid it off so it’s weird that mortgage isn’t reflected in your numbers.
This compound interest takes a while.
Time goes by faster than you realize. Now earning $50,000 to $150,000 per year in dividends, appreciation etc. it is very nice. 10% on $100 is only $10, but the same 10% on $1,000,000 is $100,000.
@financial_freedom101 im 7 years in and, counting matches, ive put in about $88k and im only roughly around $100-115k it fluctuates daily. I feel like it doesn't move. I'm 35 this year, how old are you/how old were you when you started and what was your average annual contribution over those years?
Good job. Now invest in a straight edge.
I was thinking of 3D printing a marker holder to make multiple lines at the same time in combination with the straight edge, as you can see I clearly did not go that route.
love this content
Thank you.
“It’s not gonna stop someone from passing a way “ not yet my friend , but AI nano tech is on the way , 10-20 years I predict
I make 50k a year and don’t know how or what to do to make more money. I don’t have a degree and I work in retail/sales. Not sure what I should do for more money. Maybe stay and get a promotion? Go back to school?
Managing a team can allow you to earn more. Also look to automate tasks and increase efficiency where possible. It takes the same skills to sell small priced items as it does expensive items. Selling homes pays around 3% and the average house is $400,000 so $12,000 per sale. Get a license and work part time in real estate while still working at the current role while building up the real estate side. That is just one idea.
I have a similar income/saving history but missed out big time because I didn't invest, just left it in the bank except for some bitcoin trades which made at least a little money. I could be a millionaire right now too but am still years away.
Thanks for sharing your financial journey with us. Do you have any thoughts about cryptocurrencies? (Especially Bitcoin)
It's a speculative investment. Fine for a bit of fun, but there's a reason you won't find it mentioned in the vast majority of investment strategies. It's highly volatile and may not have any value by the time you retire.
Dope
Shows you visually how market tanks every 3-4 years, like a cycle.
At the moment my NW is around 15K £ lol, if I will stick to my plan by the end of the year 2025 I will double that to 30K, all the way from barely 3K £ NW at the beginning of 2024.
It is a slow and boring process but it's worth it. In near future I'll get a house gifted to me too which will add to NW, plan to refurbish it & rent for eternity haha, long term I'm buying All World & SP500 & Global Tech ETFs, few individual stock which is around ¬ 20% overall of my portfolio. In 2026 if I don't change the job, I'll get 12% pension contribution from workplace, from 8% which is nothing to shy on, it will all go to passive all-world etf too.
Oh and also I got no debt, 6months emergency fund!
Thanks for sharing
vs spending $20 on BTC in 2009
Sounds like a lot of work. You could’ve just bought 0 DTE options
lol this doesn’t work in the new era
Based
Thanks for the informative video ... think building wealth is about determination and the right approach. Some people work for 40 years to have a small income in retirement. Others make a fortune with the right money and guidance. I want to thank Kathleen Eisen for giving me crypto trading education, I managed to grow a nest egg of around 3Btc’s to a decent 21Btc’s…At the heart of this evolution is Kathleen Eisen, whose deep understanding of both cryptocurrency and traditional trading has been instrumental. Her holistic approach to investment and commitment to staying abreast of market trends make her an invaluable ally in navigating this new era in cryptocurrency investment..
Kathleen Eisen is widely available online.
She mostly interacts on Telegrams, using the user-name
@KathleenEisen
It really helped trading with Kathleen Eisen analysis, even with the market in a downward trend. Definitely riding the market wave is a good perspective.
Thanks for sharing this. I’ve followed many traders over years already, but none have been as consistently accurate as Kathleen Eisen.
Just dump every dime you got into the free money giveaway aka the us stonk market
"8 out of 10 millionaires are first generation millionaires and were given 0 dollars by anyone in their family" is no longer true.
I assume this is from the 1996, "The Millionaire Next Door". It's quite dated and the most recent study (about ultra high net worth individuals) from 2019 brings it down closer to 67%. Furthermore, the "0" number has always been an exaggeration and oversimplification. The vast majority of successful individuals benefit from various forms of family support, educational opportunities, and social capital, even if they don't receive direct financial inheritance.
All to say self made millionaires are increasingly rare, depsite this rags to riches framing itself being more popular than ever. THIS MAKES IT ALL THE MORE BADASS THAT YOU ARE HERE NOW. I bet the percentage of current or future millionaires in this comment section is many magnitudes higher than gen pop.
Great vid and best of luck to everyone!
Two studies confirmed similar results as you mentioned The Millionaire Next door in the 80-85% range and more recently in 2018 The National Study of Millionaires research study conducted by Ramsey Solutions put the number at 79%.
So all it takes is a booming stock market that bottomed out in 2008 and risen exponentially for 17 straight years. Real estate to explode in prices. And 17 years of pinching pennies and saving. Now $1M can't even get you a decent lifestyle. $1M today was $300k in 2009. Well, congrats!
Throughout history owning assets / businesses (shares of businesses) / real estate / etc. have made people wealthy which is not different than today. I agree $1 million is not a lot of money and why I am aiming for more than $4 million in the next 10 years as the money at a 11% rate of return plus contributions will likely double each 5 to 7 years.
All investments carry risk and can lose value. Past performance does not guarantee future performance.
There are many paths to financial independence. Steady investing in diversified assets while living below your means is the key to success. It may take you a little longer or a little shorter, but that's how people retire successfully.
bullsht