254: Net Worth of $1.7M - The Crockpot Investor

Millionaires Unveiled

Jace Mattinson

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

4.8 • 872 Ratings

🗓️ 29 August 2022

⏱️ 50 minutes

🔗️ Recording | iTunes | RSS

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Summary

Jermaine has a current net worth of $1.7M. He has a majority in the market in various tax advantaged accounts and a paid for house. He drives a Tesla and is a Civil Engineer and his wife is a Elementary School Teacher. He bought his first house at 25. He feels he has made every mistake in the books and still turned out alright. We discuss all types of loans, leases, compound interest and staying the course.

Transcript

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0:00.0	It's been a while, but everything's just stocks. I really believe in the compound interest,
0:04.8	mutual funds, and just slow and steady will win the brace and going really just kind of a set it and
0:12.4	forget it, crock pot mentality of I'm not trying to get
0:15.8	rich tomorrow just kind of let it grow over time. There's so many different ways to make
0:21.0	income I just I know what works for me, what I'm comfortable with, what I'm safe with,
0:26.4	but there are so many ways out here to make money.
0:28.9	401k loans and you're paying it back, you think you'll pay it back, you're paying it back you think you'll pay it back you're paying
0:33.4	yourself interest and then the company gets bought by another company and it's
0:37.4	doing 30 days and you're like man I can't pay this back so all these things that
0:41.5	you think are going to happen good for you and then it's another obstacle in the road, but I know if I can do it anybody can do it.
0:48.0	You're listening to the Millionaires Unveiled Podcast, where you'll hear the stories and interviews of everyday
0:55.7	millionaires.
0:56.7	We'll unveil their decisions, their strategies, and their current portfolio allocation.
1:04.0	Now to your hosts, Clark Sheffield and Jace Matinson.
1:08.0	Welcome back to another episode of the Millionaires and Bill Podcast.
1:13.0	This is episode number 254.
1:15.0	I want to start off this week by addressing a listener question.
1:19.0	It actually ties in very nicely too to the episode that we have today.
1:22.0	The question is how do
1:25.6	millionaires decide to use a Roth or not use a Roth IRA? Specifically, how do they
1:31.0	think about the tax rates today and into the future, especially with looming
1:35.8	RMD requirements and paying taxes on the growth?
	...

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