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Millionaires Unveiled

224: Net Worth of 1.2M - The Importance of Giving, 20% Annually

Millionaires Unveiled

Jace Mattinson

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

4.8872 Ratings

🗓️ 7 February 2022

⏱️ 44 minutes

🧾️ Download transcript

Summary

James has a current net worth of 1.2M and gives away/donates about 20% of his earnings annually. He talks about the importance of giving and how being a wise steward with one's money can come back full circle. He worked for seven years as a project manager before switching careers in his 30's to become a project manager. James holds half of his net worth, about 600K, in his home as home equity. We discuss his decision to fully payoff his home, budget annually, and the importance of spending time with family.

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Transcript

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0:00.0

If you're imagine a $100 bill in your hand, if you're holding onto it with a tight fist, it's hard for anybody to put any more money into your hand.

0:09.0

But if you're holding it with an open hand and you're not worried about it going somewhere else or

0:13.0

blessing somebody else with it now your hand is open and you know there they're

0:16.9

you can't even count how much money could fall into your hand when it's open

0:20.3

like that but with a tight fist you're not going to get anymore. So that's the

0:24.2

illustration that's just always stuck with me.

0:26.1

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

0:32.1

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 J.

0:45.0

Mattsonson.

0:47.0

Welcome back to another episode of the Millionaires Invailed Podcast.

0:50.0

This is episode number two, 24. Clark, what's going on? How is it going on your world?

0:54.0

Dude going pretty well. What's going on with you?

0:57.0

And we are experiencing some abnormally odd winter weather all of a sudden right now, so we're hunkering down man

1:03.3

it's February every year in Texas we kind of have this this last year what month

1:08.3

was it last year when you have it was crazy pipe the pipes leak

1:11.8

and everything was that was that that was February yeah

1:14.8

the ironic thing about this whole deal and I may have shared this before but you know we moved

1:18.6

here I don't want seven years ago or something we first moved here it Austin wasn't what Austin is now but we're talking

1:24.0

some of the people who are kind of locals which is hard to find now that people

1:28.1

grew up here and whatnot but they're like oh it never snows here it never gets

...

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