Summary
In this episode, Chris and Jen, a military family with a net worth of over $5 million, discuss their journey to financial success. With their pensions they have a net worth over $9 million. They share how their parents taught them about money and the importance of investing. Their children also talk about their experiences with cash flow and investing. Chris and Jen explain their investment strategies, including buying and holding stocks and diversifying their portfolio. They discuss their favorite stocks and alternative investments, such as real estate and cryptocurrency.
The couple also shares their approach to retirement accounts and making investment decisions together. In this conversation, Chris and Jen discuss their financial journey, including their experiences with investing, taking risks, and teaching their children about money. They share their goals for the future, such as starting a consulting business, and discuss the importance of financial literacy and early investing. They also talk about their financial milestones, including becoming millionaires and changing their spending habits. They offer advice for beginners, emphasizing the value of starting early and being resourceful with money.
Takeaways
*Teaching children about money and investing from a young age can set them up for financial success in the future.
*Playing games like Cashflow and Monopoly can help children learn about saving, investing, and real estate.
*Starting to invest in the stock market at a young age can lead to long-term wealth accumulation.
*Diversifying investments and exploring alternative options, such as real estate and cryptocurrency, can provide additional opportunities for growth. Taking calculated risks and learning from failures is an important part of investing.
*Setting clear goals and planning for the future can help guide financial decisions.
*Teaching children about investing and involving them in financial discussions can help instill good money habits.
*Investing in small businesses and exploring alternative investment opportunities can be part of a diversified portfolio.
*Becoming a millionaire requires discipline, hard work, and smart financial choices.
*Using credit cards strategically and taking advantage of military benefits can help maximize financial opportunities.
*Starting early and being resourceful with money are key factors in building long-term wealth.
355: Net Worth Of $6.5M - Finding Balance Between Investing & Spending; When Another Million Doesn't Change Happiness Levels
354: Net Worth Of $5M - Immigrant Day Trading to the American Dream
353: Net Worth of $10M - I Live Better Than A Billionaire
352: Net Worth of $15M - Digging out of a hole for 4 straight years to 3x Inc. 500 CEO
351: Net Worth of $2M+ - Navigating the One More Year Syndrome
350: Net Worth of $350M+ - "The Power of The Human Isn't What You Can Do With Money But Without It"
348: Net Worth of $12.5+M - I Started As a Janitor
347: Net Worth of $1+M - A Modern Day Gold Digger Who Lost Over $1 million During Covid
346: Net Worth of $17M - From Big Macs to Race Tracks: McDonalds with a Honda to Software with a Ferrari
345: Net Worth of $1.2M - Livin' La Vida Locum Tenen
344: Net Worth of $1.2M - Another $1 million wasn't going to change my life
343: Net Worth of $1.0M+ - A Corporate America Drop Out to Philanthropist
342: Net Worth of $1.3M - I Paid $1,000 For My Worst Meal Ever
341: Net Worth of $3.5M - Former Air Traffic Controller Cashed in His 401k and Risked It All
340: Net Worth of $1.8M - I didn't start until I was 40
339: Net Worth of $51M - The Sequel
338: Net Worth of $51M - Money Loves Speed: I Started With A Magazine Publication in Ecuador
337: Net Worth of $2.1M - The short term sacrifices were worth it
336: Millionaires Unveiled Year in Review
Create your
podcast in
minutes
It is Free
The Commercial Edge: Unleash the Power of People
The emPOWERed Half Hour
Aligned Money Show
Dubai Property Podcast
IBKR Podcasts
The Ramsey Show
The Clark Howard Podcast