We have a multi million dollar net worth, and i work as a teacher. If i mention to my students that we're going to our beach house they always say "why do you work as a teacher if you own a beach house?". As though working is beneath people who have a bit more money than average.
You should look up the percentage of teachers, who actually retire as millionaires, as it is very high! Surprisingly high! The reason I have seen is that many teachers work their entire careers within a certain school system, meaning that they get raises, have pensions, and often live in the same house for decades.they also tend to naturally be a bit more conservative when it comes to saving money. Personally, I know of several retired teachers, and one would never know their net worth unless you knew them personally.
One thing to do is read the book , The millionaire next door. Probably many watching this video are millionaires. I remember when I was 18 years old my goal I set was having 100k, in the bank. I was a janitor , high school barely passing graduate. But by 20 I was learning a trade that I had an interest in. Well once I hit my goal I set another and it was buying a house and paying it off asap . Well interest rates were like 11% for a mortgage back then. Once I hit that goal I set another as I started reading book on investing before that I was just using common sense and frugality. Didn’t set a goal to become a millionaire that just happened from personal education outside of any schools (libraries) 65 yrs old here. Never had a fantastic paying job but still made the comfortable life after 40 years of work and retirement before even s.s. Was available to take anything from it. So if a person like me with very humble beginnings can make it in this American capitalism system so can ANYBODY else, no excuses.
@@tomTom-lb5cu wow, you and I took the same path to millionaire status. I’m 69 now and will be applying for my max SS next year. I’m currently living off my small pension and passive dividends. I worked in a retail store for 35 years before fully retiring at 56. I never read financial books but did follow a lot of things Rich Dad did. But, I did finally read the book earlier this year. I agree with today’s technology there is no excuse not to be able to start investing. I had to rely on magazines and dated financial papers for dated information.
You sir or ma'am are an inspiration. You've got it figured out. The American dream has always taken effort, and it's gotten harder recently, yes. But it's still possible if you're willing to grow. You could have stayed where you were dreaming about what it would be like to be rich. But you put in the hard work to make it happen.
I know two millionaires and one that was. Two of them work the land and live so modest, they are humble and just wonderful people. I wouldn’t have known if someone from the church didn’t tell us. These two are so funny and fun to be around. They are both in their late 70’s and still work everyday. The one that was won her money in the lottery. This one is horrible, she bought an enormous house, cars etc…. Present day within a three year time cars gone and house sold. Both husband and wife Have personalities from hades. They have now returned to mediocre jobs requiring no education, yet they believe they are brilliant. Their children are spoilt and not productive at all. Everyone knew she and her husband were millionaires ( for the moment). Huge difference.
I know some also in Vegas, one is worth 14m and never leaves the house, my wife thought she was the family gardner. Another friend is worth 3m+ and she lives in a double wide and does not live in the city. My dentist friend has a lot of fun, but we have more fun and travel more than any one of these. All are great people and don't talk wealth, and most of us had grown up in moderate families.
We have two kids currently in college. We always raised them poor and embraced scarcity as a lower middle class lifestyle. They have no idea how rich we really are since we've always taught them to work and save half. We're actually easily Upper Class and I'm more focus on shaping their future wealth than growing my own wealth.
I was a CFP and also sold annuities and life insurance. We had clients that were worth $100+ M and they all drove 10 year old Lincoln Town Cars or Buick Park Avenue type vehicles or 10 year old pick-up trucks. These were of course all first generation money. Mostly Wal-Mart stock. Wal-Mart headquarters here. These wealthy people often bought life insurance to donate it to the university or hospital when they die. We had one client that was worth $400-M and he drove a 20 year old Buick and had tape holding his eye glasses together.
I know 1 multi millionaire and he lets you know every time you meet him. But he is very generous. I offer to pay every time and remind him I’m not poor ( only low 7s net worth) but he never lets me pay. When he comes to my home for dinner always brings 5 star expensive wines($700) but he knows I’ve been a wine connoisseur since college and appreciate it. I think it’s his way to please a loyal friend who appreciates a good wine and not to show off (Aubrey a little) , I’ld invite him to dinner without the wine.
@@robertmeyers3640 if your a millionaire from working for it for many years I don’t think you should brag about it because it can be gone in a flash plus your setting yourself up for bad intention thieves to do you harm in some way. To me it’s more fun to dress normal , important to be humble, be giving and give awesome tips to deserving people who do any service for you including your trash man yearly and young respectful people who have minimum wage jobs trying to get started in life. One more thing is teach how you have succeeded to ears that are interested not act like you’ve found the secret code to wealth. If you made it teach another the shorts cuts , meaning explain that it wasn’t easy but you’ll help them avoid your mistakes. I’m high school educated only but when I get into conversations with college educated people of all ages they seem like wow I’ve never heard this before and I know it’s true because they don’t teach it in school practical investing in the real world and how to get started . I read books starting in my 20’s and saw common themes from the well known successful investors. And the knowledge I gained is mine to keep. It can never be taken away from me but I can pass it on to interested people for free.
Too many people perceive wealth by what they see; the big house, fancy car, boat etc. They keep score by comparing themselves to their neighbors. True wealth is what you can count, the balance in your IRA, brokerage, and savings accounts. To keep score you compare your balance today to last year, or your progress to a future goal.
I'm sorry, but I have a mansion, multiple fancy cars, three boats, and millions and millions and millions in my accounts-way more than I'll ever be able to spend. In fact, I can't even spend all the dividends and interest that land in my accounts. So sorry to burst your bubble, but there are a lot of us out here that have all that AND have still have money to burn. Stop lecturing.
Interesting to see just how many viewers MUST tell everyone else that they're millionaires. It would seem they completely missed the point of staying "quiet" about it. Great video - thanks for posting it, Azul!
The thing about a setting like this is it allows you to chat a bit about how you got where you are, how you manage your life, what you do and don't spend money on, etc., while still remaining anonymous, and therefore quiet ;)
@@xlerb2286 - agree, but there's no need at all for numbers. It's still possible to tell the story of how we got there + what our priorities are without actually putting numbers on the level of wealth we've accumulated. I see those comments, and all I think is, "tacky."
@@nette4307 Oh, numbers. Yeah, I don't usually mention numbers. There's no point. It's none of my business how anybody else is doing and I don't think anybody much cares how I'm doing. For the most part I just like chatting with fellow frugal types.
I have a few dollars, I've only flown 1st class a few times with an upgrade. Azul nailed here how we treat our kids, only coach for our family of six. We allow our kids to drive our older cars (think Toyota, Jeep's), never bought our kids a car. Let alone a new car, even if it is a Toyota.
In my 60s, my friends from college (yep still friends) and I did well, we're all millionaires, none of us drive new cars, wear name labels and we all look "normal". We all have paid off homes, own multiple properties and solid share portfolios. Meet us at the pub and you'd think, nice old normal guys.
#9: "no patience for posers" is so true, Azul. lots of advisors aren't that good at their job, like every profession. what do you call the person who graduates last in their medical school class? "doctor."
*I wasn't financial free until my 40’s and I’m still in my 40’s, bought my third house already, earn on a monthly through passive income, and got 4 out of 5 goals, just hope it encourages someone's that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made.*
The wisest thing that should be on everyone mind currently should be to invest in different streams of income that doesn't depend on government paycheck, especially with the current economic crisis around the world. This is still a time to invest in Stocks, Forex and Digital currencies.
People dismiss the importance of advisors until they are burned by their own emotions. I remember a couple of summers ago, following my lengthy divorce, I needed a good boost to assist my business stay alive, so I looked for qualified consultants and came across someone with the highest qualifications. He has helped me raise my reserve from $275k to $850k, despite inflation.
Profitable trading requires experience, a solid strategy, and preparation, which we lack. Understanding buy/sell ratios, identifying market leaders, and diversifying are key to reducing risk. And this what he provides
The multi- millionaires I know arent paying an advisor or even investing in the stock market. Their business IS their investment. Any advice they get is from other entrepreneurs and of course tax attorneys, not CFP's.
I drove my last car - Toyota Camry SE - until it died with 249K miles. Most people who knew I was driving a car with that advanced mileage thought I was nuts. But the car had a lot of sentimental value and it ran well until the very end. Now I have a brand new car.
In 40s was asked how I'm able to do group fitness classes in the middle of the day. I said job optional/retired. She said she was 'blessed' to not have a set schedule. She also 40s. 100% on their saying blessed and not much else.
Retired multi-millionaire here, agree with just about everything you said except about the car. We will pay up front for value...for me that is the Tesla, in two years I have only spent $5 dollars over the purchase price and that was for a gallon of windshield wiper fluid. We have solar so no fuel bill, no electrical bill, no gas service to the house. The best thing about having the money is you can think long term and do what's right for your long term.
You have an electric bil. You just paid for it up front. And unless You're off the grid, You're paying a minimum service charge to be connected. Another thing about having the money, you don't have to be inconvenienced by the shortcomings of an electric car.
@@hogroamer260 That's what I said, the nice thing about having money is you can pay up front for value and never pay again. I have had a zero electric bill 3 years in a row, the minimum service charge was negated by another rebate. Curious as to what those electric car shortcomings are, I drive all over the Southwest from Texas to California and have never had any range anxiety, the car is far better than any ICE car I ever owned and it costs me nothing, even the insurance and registration is equal to the Lincoln it replaced.
@@rarelycares8416 Good luck getting rid of that electric car. I don't think there's a big market for used electric cars, compared to the number of them on the road. A few times a year I go 1500 miles in a day. That would be a pain in the a$$ in an electric car. Even worse if you are hauling anything.And, the stations I've seen aren't configured for a truck with a trailer. I haven't had any repairs on any car or truck in over 25 years. Maybe the difference between GM's and Ford. When you do have a repair (battery), it will be totaled. I couldn't live with one. I rented one last spring and I learned a lesson. If you do go far enough from home to need a charge, those stations are expensive. It was just as much as gasoline. If you can deal with that good for you, it doesn't work for most. Many have a second vehicle.
Typical millionaire next door here. Im NO Show and All dough. I wear t shirts and Jeans bought at Walmart. Nobody bothers me and still driving my 2012 Honda Civic.
Mine was a 1992 Geo Metro convertible. But I upgraded to a 2016 Kia Soul with alien green paint color. I vacuum it out every 2 years if it needs it or not. I sold a commercial building that I owned and operated and considered buying a superbly restored Mustang located in Texas. I decided against it as I would probably kill myself flying it back to California. I have 7 hours dual time in a Cessna 150 and have no tail dragger time at all.
@ nice. I used to own a 68 440 charger back in 1975 when gas in California was .55 a gallon. Since I got only 7 mpg it would cost me about $12 every 3 days to fill my 20 gallon tank. Imagine paying that every 3 days in California today.
I completely agree with you! My first 100k took a long time and wasn't that special to be honest with you. Once I hit 300K that is the game changer in my opinion. At this point my money is basically making me a pretty good yearly salary. When I go to sleep at night I know my money is making decent money with the help of my FA
Nice. People often underestimate financial advisors' importance. Over 50 years of data reveal that those who work with advisors typically earn more than those who go it alone. I've been fortunate to work with one for 13 years, resulting in a $1 million portfolio, largely from early investments in AI and other growth stocks.
I relate to a lot of these points, although Im not sure if I have ever been as rich as the people youre reffering to here. At least right before moving to my current apartment I were literally a millionaire (not multi, just barely in that range). A good portion went on to buying the apartment and taking loan for it, without being able to sell because I rented before. And I actually live in an apartment thats below average size for todays standard (around 30 square meters), but just the right location for where I wanted to live. I went to the bank for financial advice a few times. And never appeared particularly rich outward, but plan for the long term instead.
So you keep calling Tesla's 100k but the common Model 3, loaded, is lower than the US average for cars and the Model Y can also be bought for less than the national average for cars. both with substantially lower running costs. I know the rich own Toyotas but that torch is being passed to owning a Tesla Model Y or 3. Tesla Model S and X compete with cars being sold for dumb money in the 200l zone while costing less than 100k.
I had a Property Management business since the 1990's. My office was on the ground floor of an apartment complex in the San Francisco East Bay. I always commuted in an old 1992 Geo Metro convertible. I actually owned 4 of them at one time. A tenant who was a telemarketer in his mid 40's used to wear gaudy colored ill fitting suits and would occasionally harass me about my car. He and his wife drove brand new cars, they had 2 of the largest flat screen TV's that I had ever seen inside a tiny apartment so crowded with oversized couches that you had to walk sideways past. They were late with their rent every other month and were deeply in credit card debt. He told me at least a dozen times that I looked like a ''clown driving a shoe''. He said that I should buy a new car like his so people wouldn't think I was such a loser. I would sit in my clown car and grin and tell him that I paid off the $800 cost and drove the car home. No car payments. I had the last laugh but never told him.... I owned and operated that apartment complex and had rental properties in 4 California counties. The broker who sold my building was there with the new owners when the guy quipped about the Clown Car. He told him that I was a ''Closet Millionaire.'' This story always makes me smile even 6 years later. I retired back then and have no more tenant headaches.
I always liked the way Tom Landry dressed on the sidelines, I remember one day he mixed it up in a press conference wearing a leather jacket over Tshirt. Point is you should always dress up as opposed to casual. Zuck and Bezos should dress a little better. Gates dresses like Mr Rogers.
If you're intelligent, and you have to be, to be worth a lot, you DO NOT need an "investment advisor". In fact, that could be one of THE WORST moves you can make. Sorry Azul but I'm MUCH smarter that you'll EVER be and all your fees and bs are NOT NEEDED.
Some of the most successful people have actually not been at the top of the intelligence scale, and conversely some of the people who are the most intelligent struggle to function in the real world. I'm not sure why you felt the need to brag about how intelligent you believe that you are relative to Azul and apparently everyone else. I do agree that not everyone needs a financial advisor although some people may benefit. Specialized knowledge in the professional field is often useful to hire somebody. We only have a limited amount of time and an unlimited amount of information out there so no matter how intelligent you or I might be we don't have time to absorb and process that information. That's the one thing you'll never get more of, time. I personally haven't hired one and don't plan to but I tried to keep things straight forward in any investments I have because I have a lot of things in my life that compete for attention and that's just one of them
I've worked with some of the same people off and on for the past 30 years. We all started out together young and broke. Many of those people still dress about the same, still drive nothing fancy older cars, live in that same house they bought 20 years ago. And I suspect at least half of them, probably more, are millionaires and have been for awhile.
Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them. Well, at least my advisor does too, jokingly.
Investors should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor in order to navigate this recession and achieve potential high yields.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
Nobody can become financially successful overnight. They put in background work but we tend to see the finished part. Fear is a dangerous component, hindering us from taking bold steps we need in other to reach our goals. you have to contend with inflation, recession, decisions from the Feds and all. I was able to increase my portfolio by $289k in months. You have to seek for help in the right places.
I think it's not always about fear, Sometimes realistic factors discourage people from reaching their goals in life. For instance, I've tried investing in the stock market several times but always got discouraged by fluctuations of stock value
Due to my demanding job, I lack the time to thoroughly assess my investments and analyze individual stocks. Consequently, for the past seven years, I have enlisted the services of a fiduciary who actively manages my portfolio to adapt to the current market conditions. This strategy has allowed me to navigate the financial landscape successfully, making informed decisions on when to buy and sell. Perhaps you should consider a similar approach.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Melissa Terri Swayne” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
We have a multi million dollar net worth, and i work as a teacher. If i mention to my students that we're going to our beach house they always say "why do you work as a teacher if you own a beach house?".
As though working is beneath people who have a bit more money than average.
You should look up the percentage of teachers, who actually retire as millionaires, as it is very high! Surprisingly high! The reason I have seen is that many teachers work their entire careers within a certain school system, meaning that they get raises, have pensions, and often live in the same house for decades.they also tend to naturally be a bit more conservative when it comes to saving money. Personally, I know of several retired teachers, and one would never know their net worth unless you knew them personally.
Worked for us, and no idea this would happen to us 30 years or so ago.
I worked my entire career among wealthy people
They are, for the most part, very understated and just a pleasure to be around
You have a wonderful voice tone.. Calming, well paced and making someone to hear to what you say
One thing to do is read the book , The millionaire next door. Probably many watching this video are millionaires. I remember when I was 18 years old my goal I set was having 100k, in the bank. I was a janitor , high school barely passing graduate. But by 20 I was learning a trade that I had an interest in. Well once I hit my goal I set another and it was buying a house and paying it off asap . Well interest rates were like 11% for a mortgage back then. Once I hit that goal I set another as I started reading book on investing before that I was just using common sense and frugality. Didn’t set a goal to become a millionaire that just happened from personal education outside of any schools (libraries) 65 yrs old here. Never had a fantastic paying job but still made the comfortable life after 40 years of work and retirement before even s.s. Was available to take anything from it. So if a person like me with very humble beginnings can make it in this American capitalism system so can ANYBODY else, no excuses.
@@tomTom-lb5cu wow, you and I took the same path to millionaire status. I’m 69 now and will be applying for my max SS next year. I’m currently living off my small pension and passive dividends. I worked in a retail store for 35 years before fully retiring at 56. I never read financial books but did follow a lot of things Rich Dad did. But, I did finally read the book earlier this year. I agree with today’s technology there is no excuse not to be able to start investing. I had to rely on magazines and dated financial papers for dated information.
You sir or ma'am are an inspiration. You've got it figured out. The American dream has always taken effort, and it's gotten harder recently, yes. But it's still possible if you're willing to grow. You could have stayed where you were dreaming about what it would be like to be rich. But you put in the hard work to make it happen.
My favorite book.
I know two millionaires and one that was. Two of them work the land and live so modest, they are humble and just wonderful people. I wouldn’t have known if someone from the church didn’t tell us. These two are so funny and fun to be around.
They are both in their late 70’s and still work everyday. The one that was won her money in the lottery. This one is horrible, she bought an enormous house, cars etc…. Present day within a three year time cars gone and house sold. Both husband and wife
Have personalities from hades. They have now returned to mediocre jobs requiring no education, yet they believe they are brilliant. Their children are spoilt and not productive at all. Everyone knew she and her husband were millionaires ( for the moment). Huge difference.
I know some also in Vegas, one is worth 14m and never leaves the house, my wife thought she was the family gardner. Another friend is worth 3m+ and she lives in a double wide and does not live in the city. My dentist friend has a lot of fun, but we have more fun and travel more than any one of these. All are great people and don't
talk wealth, and most of us had grown up in moderate families.
We have two kids currently in college. We always raised them poor and embraced scarcity as a lower middle class lifestyle.
They have no idea how rich we really are since we've always taught them to work and save half.
We're actually easily Upper Class and I'm more focus on shaping their future wealth than growing my own wealth.
There's nothing impressive about a scarcity mindset as some sort of badge.
I was a CFP and also sold annuities and life insurance. We had clients that were worth $100+ M and they all drove 10 year old Lincoln Town Cars or Buick Park Avenue type vehicles or 10 year old pick-up trucks. These were of course all first generation money. Mostly Wal-Mart stock. Wal-Mart headquarters here. These wealthy people often bought life insurance to donate it to the university or hospital when they die. We had one client that was worth $400-M and he drove a 20 year old Buick and had tape holding his eye glasses together.
I know 1 multi millionaire and he lets you know every time you meet him. But he is very generous. I offer to pay every time and remind him I’m not poor ( only low 7s net worth) but he never lets me pay. When he comes to my home for dinner always brings 5 star expensive wines($700) but he knows I’ve been a wine connoisseur since college and appreciate it. I think it’s his way to please a loyal friend who appreciates a good wine and not to show off (Aubrey a little) , I’ld invite him to dinner without the wine.
@@robertmeyers3640 if your a millionaire from working for it for many years I don’t think you should brag about it because it can be gone in a flash plus your setting yourself up for bad intention thieves to do you harm in some way. To me it’s more fun to dress normal , important to be humble, be giving and give awesome tips to deserving people who do any service for you including your trash man yearly and young respectful people who have minimum wage jobs trying to get started in life. One more thing is teach how you have succeeded to ears that are interested not act like you’ve found the secret code to wealth. If you made it teach another the shorts cuts , meaning explain that it wasn’t easy but you’ll help them avoid your mistakes. I’m high school educated only but when I get into conversations with college educated people of all ages they seem like wow I’ve never heard this before and I know it’s true because they don’t teach it in school practical investing in the real world and how to get started . I read books starting in my 20’s and saw common themes from the well known successful investors. And the knowledge I gained is mine to keep. It can never be taken away from me but I can pass it on to interested people for free.
I notice that there is a lot of talk about being a millionaire, that's no money now, a 1500 square foot crackerbox cost half that.
@@jamesdaugherty8042No idea what you’re talking about
The Millionaire Next Door. Great book!
Too many people perceive wealth by what they see; the big house, fancy car, boat etc. They keep score by comparing themselves to their neighbors.
True wealth is what you can count, the balance in your IRA, brokerage, and savings accounts. To keep score you compare your balance today to last year, or your progress to a future goal.
I'm sorry, but I have a mansion, multiple fancy cars, three boats, and millions and millions and millions in my accounts-way more than I'll ever be able to spend. In fact, I can't even spend all the dividends and interest that land in my accounts. So sorry to burst your bubble, but there are a lot of us out here that have all that AND have still have money to burn. Stop lecturing.
I couldn't agree more with the majority of what you said here. I love cars, so I do break that rule.
Azul you are 1000.% correct I agree with you wholeheartedly .
Interesting to see just how many viewers MUST tell everyone else that they're millionaires. It would seem they completely missed the point of staying "quiet" about it. Great video - thanks for posting it, Azul!
The thing about a setting like this is it allows you to chat a bit about how you got where you are, how you manage your life, what you do and don't spend money on, etc., while still remaining anonymous, and therefore quiet ;)
@@xlerb2286 - agree, but there's no need at all for numbers. It's still possible to tell the story of how we got there + what our priorities are without actually putting numbers on the level of wealth we've accumulated. I see those comments, and all I think is, "tacky."
@@nette4307 Oh, numbers. Yeah, I don't usually mention numbers. There's no point. It's none of my business how anybody else is doing and I don't think anybody much cares how I'm doing. For the most part I just like chatting with fellow frugal types.
I have a few dollars, I've only flown 1st class a few times with an upgrade. Azul nailed here how we treat our kids, only coach for our family of six. We allow our kids to drive our older cars (think Toyota, Jeep's), never bought our kids a car. Let alone a new car, even if it is a Toyota.
Same here. My parents had d nicer things
Health is wealth
In my 60s, my friends from college (yep still friends) and I did well, we're all millionaires, none of us drive new cars, wear name labels and we all look "normal". We all have paid off homes, own multiple properties and solid share portfolios. Meet us at the pub and you'd think, nice old normal guys.
I know we are in a good position but keep a very low profile and don’t want much !!
#9: "no patience for posers" is so true, Azul. lots of advisors aren't that good at their job, like every profession. what do you call the person who graduates last in their medical school class? "doctor."
*I wasn't financial free until my 40’s and I’m still in my 40’s, bought my third house already, earn on a monthly through passive income, and got 4 out of 5 goals, just hope it encourages someone's that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made.*
The wisest thing that should be on everyone mind currently should be to invest in different streams of income that doesn't depend on government paycheck, especially with the current economic crisis around the world. This is still a time to invest in Stocks, Forex and Digital currencies.
People dismiss the importance of advisors until they are burned by their own emotions.
I remember a couple of summers ago, following my lengthy divorce, I needed a good boost to assist my business stay alive, so I looked for qualified consultants and came across someone with the highest qualifications. He has helped me raise my reserve from $275k to $850k, despite inflation.
Haven't you heard about MICHAEL T ABAGNALE?
Profitable trading requires experience, a solid strategy, and preparation, which we lack. Understanding buy/sell ratios, identifying market leaders, and diversifying are key to reducing risk. And this what he provides
Scam alert
The multi- millionaires I know arent paying an advisor or even investing in the stock market. Their business IS their investment. Any advice they get is from other entrepreneurs and of course tax attorneys, not CFP's.
I drove my last car - Toyota Camry SE - until it died with 249K miles. Most people who knew I was driving a car with that advanced mileage thought I was nuts. But the car had a lot of sentimental value and it ran well until the very end. Now I have a brand new car.
In 40s was asked how I'm able to do group fitness classes in the middle of the day. I said job optional/retired. She said she was 'blessed' to not have a set schedule. She also 40s. 100% on their saying blessed and not much else.
Retired multi-millionaire here, agree with just about everything you said except about the car. We will pay up front for value...for me that is the Tesla, in two years I have only spent $5 dollars over the purchase price and that was for a gallon of windshield wiper fluid. We have solar so no fuel bill, no electrical bill, no gas service to the house. The best thing about having the money is you can think long term and do what's right for your long term.
... I drive a Toyota. The break even point for a Tesla is about 140,000 miles (on my Toyota), and that is with free electricity and depreciation.
You have an electric bil. You just paid for it up front. And unless You're off the grid, You're paying a minimum service charge to be connected. Another thing about having the money, you don't have to be inconvenienced by the shortcomings of an electric car.
@@hogroamer260 That's what I said, the nice thing about having money is you can pay up front for value and never pay again. I have had a zero electric bill 3 years in a row, the minimum service charge was negated by another rebate. Curious as to what those electric car shortcomings are, I drive all over the Southwest from Texas to California and have never had any range anxiety, the car is far better than any ICE car I ever owned and it costs me nothing, even the insurance and registration is equal to the Lincoln it replaced.
@@rarelycares8416 Good luck getting rid of that electric car. I don't think there's a big market for used electric cars, compared to the number of them on the road. A few times a year I go 1500 miles in a day. That would be a pain in the a$$ in an electric car. Even worse if you are hauling anything.And, the stations I've seen aren't configured for a truck with a trailer. I haven't had any repairs on any car or truck in over 25 years. Maybe the difference between GM's and Ford. When you do have a repair (battery), it will be totaled. I couldn't live with one. I rented one last spring and I learned a lesson. If you do go far enough from home to need a charge, those stations are expensive. It was just as much as gasoline. If you can deal with that good for you, it doesn't work for most. Many have a second vehicle.
@@hogroamer260 I’ve seen many people or most have an SUV and those are big gas hogs, as well as cost very much!! I’m happy with my hybrid Toyota.
Azul please don’t expose us, we love our life.
Says the clown with no real money. LMAO!!
@@Reload77725 You said so.
Just bought a new Mercedes and am loving it. Had my last Audi 12 years. This one will last another 12. Timeless.
Typical millionaire next door here. Im NO Show and All dough. I wear t shirts and Jeans bought at Walmart. Nobody bothers me and still driving my 2012 Honda Civic.
You sound great!
Smart way to go.
Mine was a 1992 Geo Metro convertible. But I upgraded to a 2016 Kia Soul with alien green paint color. I vacuum it out every 2 years if it needs it or not. I sold a commercial building that I owned and operated and considered buying a superbly restored Mustang located in Texas. I decided against it as I would probably kill myself flying it back to California. I have 7 hours dual time in a Cessna 150 and have no tail dragger time at all.
@ nice. I used to own a 68 440 charger back in 1975 when gas in California was .55 a gallon. Since I got only 7 mpg it would cost me about $12 every 3 days to fill my 20 gallon tank. Imagine paying that every 3 days in California today.
Thrifty habits are hard to break when they aren’t necessary anymore.
Great video, The first $100,000 invested was amazing. But when you hit $300,000 it’s like smashing the glass ceiling! I cried.
I completely agree with you! My first 100k took a long time and wasn't that special to be honest with you. Once I hit 300K that is the game changer in my opinion. At this point my money is basically making me a pretty good yearly salary. When I go to sleep at night I know my money is making decent money with the help of my FA
Nice. People often underestimate financial advisors' importance. Over 50 years of data reveal that those who work with advisors typically earn more than those who go it alone. I've been fortunate to work with one for 13 years, resulting in a $1 million portfolio, largely from early investments in AI and other growth stocks.
I've been considering but haven't been proactive. Can you recommend your advisor? Could really use some assistance.
"Nicole Anastasia Plumlee" is the licensed advisor I use. Just research the name. You’d find necessary details to work with to set up an appointment.
I looked up her name online and found her page. I emailed and made an appointment to talk with her. Thanks for the tip
I relate to a lot of these points, although Im not sure if I have ever been as rich as the people youre reffering to here. At least right before moving to my current apartment I were literally a millionaire (not multi, just barely in that range). A good portion went on to buying the apartment and taking loan for it, without being able to sell because I rented before. And I actually live in an apartment thats below average size for todays standard (around 30 square meters), but just the right location for where I wanted to live. I went to the bank for financial advice a few times. And never appeared particularly rich outward, but plan for the long term instead.
So you keep calling Tesla's 100k but the common Model 3, loaded, is lower than the US average for cars and the Model Y can also be bought for less than the national average for cars. both with substantially lower running costs. I know the rich own Toyotas but that torch is being passed to owning a Tesla Model Y or 3. Tesla Model S and X compete with cars being sold for dumb money in the 200l zone while costing less than 100k.
I have a top of the range BMW arriving in a few weeks you only live once and no pockets in shrouds I seem to remember
I had a Property Management business since the 1990's. My office was on the ground floor of an apartment complex in the San Francisco East Bay. I always commuted in an old 1992 Geo Metro convertible. I actually owned 4 of them at one time. A tenant who was a telemarketer in his mid 40's used to wear gaudy colored ill fitting suits and would occasionally harass me about my car. He and his wife drove brand new cars, they had 2 of the largest flat screen TV's that I had ever seen inside a tiny apartment so crowded with oversized couches that you had to walk sideways past. They were late with their rent every other month and were deeply in credit card debt.
He told me at least a dozen times that I looked like a ''clown driving a shoe''. He said that I should buy a new car like his so people wouldn't think I was such a loser. I would sit in my clown car and grin and tell him that I paid off the $800 cost and drove the car home. No car payments. I had the last laugh but never told him.... I owned and operated that apartment complex and had rental properties in 4 California counties. The broker who sold my building was there with the new owners when the guy quipped about the Clown Car. He told him that I was a ''Closet Millionaire.'' This story always makes me smile even 6 years later. I retired back then and have no more tenant headaches.
It's best to show people only what you want them to see.
I always liked the way Tom Landry dressed on the sidelines, I remember one day he mixed it up in a press conference wearing a leather jacket over Tshirt. Point is you should always dress up as opposed to casual. Zuck and Bezos should dress a little better. Gates dresses like Mr Rogers.
Hi John. Thanks for commenting ... I always thought Bezos was a good dresser. Zuck no but Bezos pretty good. 🤵🏻♂️ Azul
If you're intelligent, and you have to be, to be worth a lot, you DO NOT need an "investment advisor". In fact, that could be one of THE WORST moves you can make. Sorry Azul but I'm MUCH smarter that you'll EVER be and all your fees and bs are NOT NEEDED.
Exactly
Some of the most successful people have actually not been at the top of the intelligence scale, and conversely some of the people who are the most intelligent struggle to function in the real world.
I'm not sure why you felt the need to brag about how intelligent you believe that you are relative to Azul and apparently everyone else. I do agree that not everyone needs a financial advisor although some people may benefit. Specialized knowledge in the professional field is often useful to hire somebody. We only have a limited amount of time and an unlimited amount of information out there so no matter how intelligent you or I might be we don't have time to absorb and process that information. That's the one thing you'll never get more of, time.
I personally haven't hired one and don't plan to but I tried to keep things straight forward in any investments I have because I have a lot of things in my life that compete for attention and that's just one of them
I've worked with some of the same people off and on for the past 30 years. We all started out together young and broke. Many of those people still dress about the same, still drive nothing fancy older cars, live in that same house they bought 20 years ago. And I suspect at least half of them, probably more, are millionaires and have been for awhile.
Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them. Well, at least my advisor does too, jokingly.
Investors should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor in order to navigate this recession and achieve potential high yields.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
Most Teslas are around $40k.
Please create time stamps and transcript of videos if possible
Fwiw Tesla’s ASP trailing 12 months is ~43k not $100k
Deferred gratification and the "saver's gene" can get-r done!
How many millions of savings should one strive for ?
The quietest of millionaires don't have profiles.
Really? Elon Musk, currently worth $235 BILLION, post on X about 10X/day. So you're wrong.
@@Reload77725elon is not quiet. He said “the quietest millionaires”
So, they've ALL got an online profile? Isn't that a bit counter-productive? A bit too high profile?
11. He appears to be on cocaine all the time.
Ok. There are only 1000 billionaires in the USA. Just stop. No one watching this is friends with a billionaire.
I am
sounds more like self made billionaires or at least centimillionaires you are describing. a couple $millions still put you outside of top 1%.
Nobody can become financially successful overnight. They put in background work but we tend to see the finished part. Fear is a dangerous component, hindering us from taking bold steps we need in other to reach our goals. you have to contend with inflation, recession, decisions from the Feds and all. I was able to increase my portfolio by $289k in months. You have to seek for help in the right places.
I think it's not always about fear, Sometimes realistic factors discourage people from reaching their goals in life. For instance, I've tried investing in the stock market several times but always got discouraged by fluctuations of stock value
Due to my demanding job, I lack the time to thoroughly assess my investments and analyze individual stocks. Consequently, for the past seven years, I have enlisted the services of a fiduciary who actively manages my portfolio to adapt to the current market conditions. This strategy has allowed me to navigate the financial landscape successfully, making informed decisions on when to buy and sell. Perhaps you should consider a similar approach.
Glad to have stumbled on this conversation. Please can you leave the info of your investment advisor here? I’m in dire need for one.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Melissa Terri Swayne” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
She appears to be well-educated and well-read. I ran a Google search on her name and came across her website… thank you for sharing.
👍👍👍👍👍👍👍👍👍
You would make a good vice president Fetterman. :)