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Millionaires Unveiled

361: Net Worth Of $5.3M - I Didn't Purchase My First Car Until I Was Over 60 Years Old

Millionaires Unveiled

Jace Mattinson

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

4.8872 Ratings

🗓️ 10 June 2024

⏱️ 39 minutes

🧾️ Download transcript

Summary

Summary

Charles, a military reservist and pharmaceutical representative, shares his financial journey and insights. His net worth is $5.3 million and he is in his early 60's. He has a primary residence worth about $1.4 million and retirement accounts that are $2.9 million plus a pension that is valued around $1.0 million. Charles and his wife have flipped multiple personal residences over the years, allowing them to build wealth. They also prioritize contributing to retirement accounts and have achieved a million-dollar net worth through their 401(k)s and IRAs. Charles emphasizes the importance of financial education and teaching his children about money management. He also highlights the value of gratitude, generosity, and taking care of one's health. Charles offers advice for young investors, encouraging them to start early and stay the course.

Transcript

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0:00.0

But the finance part has been I'll be in admit my daughter my wife's a spender and I'm a saver and you know that sometimes that we we cross paths on that but you know we live a better life because she's taught me how to be a

0:16.4

better giver and a better spender as well so I think both of us have tried to grow towards, you know, trying to do what the other spouse wanted to make life, you know, pleasant for both of us.

0:29.2

Welcome millionaires and future millionaires. You're listening to the Millionaires Unveale Podcast,

0:35.0

the show where you'll hear the stories and interviews of everyday millionaires

0:39.0

will unveil their decisions, their strategies,

0:41.0

and their portfolio allocation.

0:43.3

Now to your host, Jayce Mattingen.

0:49.3

Welcome back to another episode of the Modernism

0:50.9

of the podcast.

0:51.7

This is episode number 361

0:54.0

stace we are full swing in the summer how you go on it?

0:57.3

Happy to be back on intro I developed I developed this disease that every time I get a cold I suddenly lose my voice

1:06.2

so I'm happy to have my voice back this week. Yeah for sure so I came across an

1:12.4

article not too long ago. Actually this was written a little while ago but I think some of its resurfaced. You know, I don't know if the tabloids is the right terminology but it's resurfaced

1:25.8

in several of the online forums I think partly and because one there are

1:32.1

thousands of baby boomers retiring every day but to and it's on the

1:36.5

mind of many but two there's also this massive transfer and wealth transfer that's occurring as part of baby boomers retiring and

1:45.4

passing on and what's getting passed down.

1:48.0

But on top of that, inflation has really driven a lot of things on people's mind especially the last you know two years

1:55.8

here three years here the article entitled was like to retire with a five

2:00.1

million dollar nest egg and go around and have I don't know half dozen of these

2:05.3

retirees that are around that or above that which you know we have a few coming

...

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