334: Net Worth of $1.0M - I lived Credit Card Statement to Credit Card Statement
Summary
In this episode, Frank shares his journey to becoming a millionaire and paying off his house. His net worth is $1.0 million. He has a chunk in retirement accounts invested in the market, a paid for house worth several hundred grand and the rest is in cash and other small investments. He discusses the importance of hard work and changing financial habits. Frank also talks about teaching his children about finances and his plans for the future. He shares his thoughts on mortgages and home ownership, as well as leaving an inheritance. Frank offers advice for beginners, emphasizing the importance of starting early and educating oneself about personal finance.
Chapters
00:00 Introduction and Background
06:12 Paying Off the House
11:27 Financial Journey and Lessons Learned
15:10 Meeting spouse and working through money conversations
20:47 Alternative Investments
23:47 Thoughts on Mortgages and Home Ownership
25:20 Leaving an Inheritance
30:14 Immediate Goals and Next Steps
32:25 Rapid Fire Questions
37:50 Advice for Beginners