243: Net Worth of 4.5M - Dollar Cost Averaging is the Holy Grail

Millionaires Unveiled

Jace Mattinson

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

4.8 • 872 Ratings

🗓️ 13 June 2022

⏱️ 39 minutes

🔗️ Recording | iTunes | RSS

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Summary

Mike has a net worth of 4.5M. He is 38 years old and has the majority of his net worth invested in the stock market divided between both retirement and non-retirement accounts. Mike works in sales and talks about the importance of compounded interest, dollar cost averaging, and paying yourself first. He shares his thoughts about paying off his primary residence early, the FIRE movement, and his financial goals for the future.

Transcript

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0:00.0	But I've continued to kind of tweak my investment philosophy as I've made more money as I've grown and children
0:07.0	But the underlying basis has been I've always spent less than I've made and a dollar cost averaged into the markets mostly
0:15.2	index funds. Dollar cost averaging is literally like my holy grail and I've
0:20.4	literally been dollar cost averaging into a taxable account since I was 22.
0:26.2	And so if there was one reason why I have the amount of money I have today, there's no doubt
0:30.6	it's that I created that as a habit.
0:33.0	You're listening to the Millionaires Unvealed Podcast,
0:37.0	where you'll hear the stories and interviews of everyday millionaires.
0:42.0	We'll unveil their decisions,
0:44.3	their strategies, and their current portfolio allocation.
0:49.0	Now to your hosts, Clark Sheffield and Jace Mattingon.
0:53.0	Welcome back to another episode of the Millionaires and Villed
0:56.2	Podcast. This is episode number 243.
0:58.8	Clark, what's going on in your world?
1:00.1	How you doing?
1:01.1	Dude, doing pretty well.
1:02.1	How are you doing? How are you doing?
1:03.0	We're just watching the NBA finals here and some personal finance note I guess on that is they came out and said
1:10.4	LeBron was the what not first athlete billionaire is that what they said I think the first
1:15.3	active athlete that's become a billionaire always so yeah because Michael Jordan I think is a billionaire
1:21.1	but he I think he became a billionaire after his
1:23.1	playing days yeah even though Forbes has I mean you question how close it really is
	...

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