271: Net Worth of $1.4M - There is a PRICE for Comfort and Complacency

Millionaires Unveiled

Jace Mattinson

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

4.8 • 872 Ratings

🗓️ 5 December 2022

⏱️ 36 minutes

🔗️ Recording | iTunes | RSS

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Summary

Paul lives in the northeast and is 40. He has a net worth of $1.4 million. 825k in 401k, Brokerage Account around 200k, Roth IRA 180k, HSA 8k, Crypto 5k, 100k Home Equity and 75k cash. We discuss his journey from losing his job to changing his frame of mind around employment and advocating for himself.

Transcript

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0:00.0	And there was a podcast that talked about the math behind becoming a millionaire.
0:04.8	And it was really just a simple equation.
0:07.3	You put a certain amount in, you got a certain yield, a return,
0:11.0	and that amount will grow. and I found a calculator online. I think it's a simple like compound interest
0:17.8	calculator and I would play with the variables and I'd be like okay if I can put this amount in you know in 15 20 years you know we can I can get to seven
0:25.7	figures and it just blew my mind I couldn't believe it and you work for corporation
0:29.7	and you see people that have worked there for 15, 20, 30, 40 years will lose their positions.
0:34.9	You get pretty serious about investing in yourself and taking every paycheck and having
0:41.1	gratitude for it and investing it because you know it can be gone.
0:44.5	You realize it can be gone.
0:46.2	Down turns happen so you better plan.
0:48.3	But you also have to have balance.
0:49.4	You can't be obsessed with that.
0:50.7	You know, you have to enjoy life and you know I was probably a lot more
0:53.5	paranoid back then it probably didn't help me because I probably stayed at
0:56.9	employers longer than I should have the best advocate for yourself no one else is
1:00.7	going to manage your career for you. You really have to take the
1:02.8	bulls by the horn and do that and it's on you or you know there's a price for
1:07.6	comfort and complacency. You're listening to the Millionaires Unvealed
1:12.3	podcast where you'll hear the stories You're listening to the Millionaires Unvealed Podcast,
1:13.4	where you'll hear the stories and interviews of everyday millionaires.
1:18.1	We'll unveil their decisions, their strategies,
	...

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