209: Net Worth of 1.25M - Divorced Dad, "W-2 Income is Not the Path to Wealth"

Millionaires Unveiled

Jace Mattinson

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

4.8 • 872 Ratings

🗓️ 25 October 2021

⏱️ 54 minutes

🔗️ Recording | iTunes | RSS

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Summary

Dion has a current net worth of 1.25M. He was divorced at age 40 when he had a net worth of -90K. He turned around his financial situation and became a millionaire under 10 years later at the age of 48. He owns 14 rental units (no stock market investments) which provide annual net cash flow of 84K; his max W-2 salary has been 75K. Dion has also worked as a truck driver and police officer until he decided to find cash flow streams that weren't dependent on a job.

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Transcript

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0:00.0	I don't think before I turned 40 I had ever had a thousand dollars in the bank.
0:04.3	And from 40 I found out there was over 89,000 in credit card debt in my name that
0:09.5	existed without my knowledge. So I started my research into financial independence as a single parent making $17 an hour
0:17.8	with $89,000 in bad debt.
0:20.7	You're listening to the Millionaires Unvealed Podcast, where you'll hear the stories and
0:27.1	interviews of everyday millionaires.
0:30.1	We'll unveil their decisions, their strategies, and their current portfolio allocation.
0:36.8	Now to your hosts, Clark Sheffield and Jace Mattson.
0:40.5	All righty, what's going on everybody?
0:44.0	Welcome back.
0:45.0	Another episode of the Millionaires Unveailed Podcast, number 2009 here.
0:48.0	This is Clark here with my co-host, Jace, what's going on?
0:52.0	Man, just enjoying this beautiful fall weather.
0:55.2	What about you?
0:56.0	Same here, basketball starting up, man.
0:58.0	I love it, man, I love it.
0:59.7	Love it.
1:00.3	Basketball, NBA, NBA, college football, NBA, college football going on right now, NFL, in the thick of the season,
1:06.7	you got that World Series coming up here pretty soon.
1:09.7	Yeah, I was going to say.
1:10.5	Man, I love, I love the end of October. Yeah you get all the sports
1:14.7	colliding in hockey I'm not even I'm not a huge hockey fan but just having it all
	...

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