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Millionaires Unveiled

104: Net Worth of 3.0M - "I Couldn't Afford to Go to McDonalds"

Millionaires Unveiled

Jace Mattinson

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

4.8872 Ratings

🗓️ 21 October 2019

⏱️ 46 minutes

🧾️ Download transcript

Summary

Mark shares his amazing story about being in debt to reaching a net worth of $3 million dollars. He currently has seven paid for condo rental units, a paid for house, and 800K in IRA's. He discusses how he overcame debt, and the intentional decisions his family made to save and invest. Mark recently retired and divulges what he's learned in retirement. He also shares that his household spending has increased from about 60K to 150K annually (mostly due to traveling).

Transcript

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0:00.0

I think I owed pretty much 80,000 on my house, a couple of cars, maybe 5,000 on a credit card.

0:08.0

I had a lot that I had purchased and I had a loan on that for $15,000.

0:14.1

Yeah, it was, we ran out of money

0:17.2

before the end of the month.

0:18.4

And that's why, that's why I couldn't go to McDonald's.

0:20.7

Because even if it was at the beginning of the month I knew I was I

0:23.7

would be spending money we didn't really have.

0:27.7

You're listening to the Millionaires Unvealed Podcast where you'll hear the stories

0:32.4

and interviews of everyday millionaires.

0:35.0

We'll unveil their decisions, their strategies, and their current portfolio allocation.

0:42.0

Now to your hosts, Clark Sheffield and Jace Mattsonson.

0:49.0

Hello and welcome back to another episode of the Millionaires Unveiled

0:52.4

podcast where we tell the stories and strategies

0:54.6

of everyday millionaires and unveil their current portfolio allocations.

0:58.6

I'm Clark here alongside my co-host, Jace, and this is episode number 104. On last week's show we had

1:05.7

Chris Mamula. He's the co-author of the new book Choose F. I your blueprint for

1:10.4

financial independence. We discussed the book, what one can expect to learn,

1:14.4

some of the chapters and information that stood out to us as well as to him, and also

1:19.1

we really dove into his story of financial independence.

1:22.9

On today's interview we have Mark.

1:24.9

Mark has a current net worth of about 3 million, of which 1.4 million is in 7 different

1:29.5

rental properties and also about $900,000 in retirement accounts.

...

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