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Millionaires Unveiled

95: Net Worth of 630K - Teacher with Side Hustles

Millionaires Unveiled

Jace Mattinson

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

4.8872 Ratings

🗓️ 19 August 2019

⏱️ 46 minutes

🧾️ Download transcript

Summary

Don and his wife are both teachers. They have combined teaching income of about $125K. On top of teaching, they earn about $20K in additional income from side hustles. He discusses how he earns income on the side and the positive attitude needed to increase your earnings. They have about $350K in retirement accounts, $10K in cash, $7K in gold, and $7K in a 529 plan. Don also discusses his pension and provides advice to others who are pension eligible. Furthermore, he and his wife spend about $75K annually.

Transcript

Click on a timestamp to play from that location

0:00.0

Don't go spend money once you pay off a bill.

0:03.2

Bank it.

0:04.2

Put it in the stock market, put in savings bond, put it in gold, put it in something that

0:07.9

expects positive return.

0:09.8

Don't go buy another car.

0:11.6

He would always, you know, we would be sitting in his house

0:14.0

and a new car would go buy a new day,

0:15.9

that's a nice new car.

0:16.9

He'd always say, remember this, though.

0:18.4

You know, you get the new car and everybody tells you

0:20.5

how nice it is the first day you have it and then the second month you have it.

0:24.7

People tell you a little bit less and then what happens is three or four years down the road,

0:29.6

nobody's telling you how great your car is but you still have the big payment and you don't think your car is nice. is

0:35.0

you still have the big payment and you don't think your car is nice but you got the payment and what a lot of people actually wind up doing is they want to get that feeling again of everybody being you know so impressed but they might still have two years of a

0:44.2

loan left so what do they do they go roll it into the next load and he would tell

0:48.7

me this and he's telling this to me and I'm 12 13 13, 14, 15 years old.

0:53.0

He probably says that to most 12 year olds and, you know, they rule their eyes and think,

0:57.0

okay, whatever you're talking about.

0:59.0

But I used to just listen to this and just eat it up.

1:02.0

You're listening to the Millionaires Unvealed Podcast,

1:06.0

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

1:11.0

We'll unveil their decisions, their strategies, and their current portfolio allocation.

...

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