Better Know a Millionaire with Adam Dicker

Listen Money Matters - Free your inner financial badass. All the stuff you should know about personal finance.

Listen Money Matters

Careers, Business, Investing, Education

4.4 • 2.3K Ratings

🗓️ 27 July 2015

⏱️ 38 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

We haven’t done one of these in awhile! Better Know a Millionaire is back to see if the other 1% really live that differently to the rest of us. Today we interview millionaire Adam Dicker. Adam made his millions by selling domain names, some for as much as eight figures! Adam has been in the business for about twenty years and was a VP at Go Daddy for a few years. Adam buys and sells domains that have expired and tries to stay two to three years ahead of trends, particularly in the medical and tech sectors. You can’t just go and buy a domain name with a trade mark in it. So no, five years ago you would not have been able to purchase Applewatch.com. No need to beat yourself up about that one. This business takes a lot of research. You have to buy a name that in the future, a business would want to buy. Like a lot of millionaires, Adam wanted a business that would make passive income. He once went to dinner before replying to an offer and in the space of that dinner, made an additional $50,000 from an anxious buyer. Doesn’t get much more passive than that. Adam looks at every day like he has to make enough money to pay for food for his family. He may have made $10,000 the previous day, but he forgets that and looks at the current day as an emergency that he needs money for. According to Adam, you always have to budget, all of us. It doesn’t matter if you make $10,000 a year or $100,000 a month. If you have no idea what is coming in and what is going out, you might find yourself going broke. Like nearly all of the millionaires we’ve interviewed, Adam doesn’t live a crazy life of luxury. He would rather watch football on a Sunday afternoon or go to dinner than stay in Five Star hotels across Europe. So again, we see that your average millionaire is not some jack off you see on TMZ, but just a normal person who knows the importance of living within your means. Show Notes Morimoto Imperial Pilsner: The Iron Chef beer! Adam Dicker: Learn to buy and sell domain names. LMM Community: Come join us in the Forums to discuss all things PF! Featured Image Photo Credit: “Proudly made in America. Printing 24/7 in USA.” by Miran Rijavec on Flickr Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	Hey everybody, welcome to Listen to Money Matters! I have the catchphrase on a different
0:09.0	tab. My body wants to sleep, but my pocket wants more money. My name is Thomas, I'm
0:14.0	here as always with Andrew. Andrew, how are you and what are you drinking today, man?
0:18.0	I was like, that's not the catchphrase. Dude, I'm awesome and I'm polishing off the end
0:23.8	of my Morimoto Imperial Pilsner, which is so fucking good. Like this bottle. I could probably
0:31.4	club something to death of it. That is an interesting bottle. It's not just a bomber, it's like a
0:36.0	ceramic like thick one. Dude, that looks like the kind of bottle that like barley wine comes in.
0:41.5	And dude, check this out. So usually you get a bomber and it has like the top and usually like,
0:46.2	you know, it's like a lid, whatever, but it's like a groultz bomber. Yeah. You pop it, you pour
0:50.9	it drinking. If you don't finish it, I just cap it off. It's like... Yeah, redo it. We got some
0:56.7	some local made cider in Wisconsin when I was in Door County and they had that. That's the only bottle
1:02.8	like that I've ever had. You have to try that's Rogue, right? Yeah, yeah. Love my body guys. Very nice.
1:08.8	Well, I am still apparently in Japan mode because I'm drinking an Asahi Super Dry. You know,
1:14.7	it's funny. That's like the Budweiser over there, but I feel like it's so much higher quality.
1:19.6	I don't feel like... Why don't you get lower quality than Budweiser?
1:25.6	Yeah, exactly. So guys, today's catchphrase was my body wants more sleep, my pocket wants more
1:31.0	money and that comes to us on Twitter from LGE553. So thank you so much for sending in that catchphrase.
1:39.4	We got somebody to send in the catchphrase, Andrew. Yes. And we need more catchphrases. So you
1:45.0	can tweet them to us or at Money Matters Man on the Twitters. We're also on Facebook,
1:50.7	listen Money Matters or you can send a Raven if you want or like an owl if you're like from God
1:56.4	work something. John Snow may not be able to receive it though. I don't get given
2:01.9	for gaming thrones references. Oh, I'm seeing it. Everyone's like... Everyone's just like complaining
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Listen Money Matters, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Listen Money Matters and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.