Surprising Facts About Millionaires (Your Perception Of A Millionaire Is WRONG)

[@robm2245]

Yes, everything you said is very true, however, most do need a substantial amount of time to become a millionaire. Time is in fact the most valuable thing a person has in life and it is not guaranteed you will have a lot of it before you are dead!

[@Ryan-wx1bi]

Unless we get that sweet, sweet hyperinflation. Then we can all be millionaires

[@susannicky]

Within various industries, there exist numerous intriguing stocks that you may choose to track. It is important to note that you do not need to act upon every forecast. Therefore, I would recommend working alongside a financial advisor who can assist you in determining the optimal moments to buy and sell the shares or ETFs you are interested in acquiring.

[@graywilliams_77.]

@@susannicky I'm pleased to have come across this conversation. Could you kindly provide me with the contact information of your investment advisor? I am in urgent need of one.

[@susannicky]

I am currently in contact with ROCH DUNGCA-SCHREIBER .She has an online presence, so you can easily find more information about her by conducting a simple search.

[@graywilliams_77.]

@@susannicky Thank you for providing this helpful pointer. I managed to find the contact information for ROCH DUNGCA-SCHREIBER , and she appears to be highly skilled and adaptable. I have scheduled a call session with her.

[@lengerer]

I'm 40 and a millionaire, just by saving from 18 in managed fund then using that $30k to build a house. Paid that off in 7 yrs with my wife then saved another 50k and bought 2 more property which have both risen over time. We have only had normal jobs and no hand outs, just hard work and saving. Now our net worth is 2.5 million and could retire in 10 yrs with $2000 per week rental income. I'm slowly saving back into a div ETF to diversify income. Anyone can do it, just believe in yourself and start investing right now. Good luck everyone! You can do it!

[@jjfwwhlol5923]

Better to be rich than look rich

[@ChrisInvests]

Absolutely 💯

[@EricDaMAJ]

It’s crazy that this works but it does. I can attest to it. I became a millionaire and only made ~100k in the last few years of my career. Then I retired early.

[@rtbear674]

I enjoyed my life with only spend 20% why pay more. At some point in my life I also have to restart from 0. And you learn that your income is not forever, at some point shit will happens. And even if I think I have enough to retire, after 10 years passed, all those calculations will go down to the drain because of inflation, market crash, or whatever external things. And it might sounds crazy for some people, but money you don't spend now can be spent later.

[@jonas77718]

Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. A trader made over $350k in this recession influenced market...

[@sandra65823]

Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are alot of wealth transfer in this downtime if you know where to look..

[@MargaretMargaretKarjala]

The best course of action if you lack market knowledge is to ask a consultant or investing coach for guidance or assistance. Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65% since January, even though I know it sounds obvious or generic. I believe that is the most effective way to enter the business at the moment.

[@mark75700]

Please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch with this person...

[@MargaretMargaretKarjala]

My advisor is Stephanie Kopp Meeks highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market...

[@mark75700]

I am going to look her up, I have about $81k i want to start with, might be small but it's better than nothing though. Since the 08 crash is playing out again...

[@themick6586]

I can personally attest to this, I'm a mechanic/welder , built the house I live in with my own hands ,lived below my means and invested the excess,

[@truthsayer9534]

Aside from a house, if you can’t pay cash for something you can’t afford it and shouldn’t be buying it. Poor people live a life of debt and that’s why they stay poor. It only takes an average of $200/month ($7/day) invested into an index fund for 40 years to become a millionaire. Most people don’t have the patience, but I did.

[@mbo3783]

I got a good laught when the KZbin algorithm chose "TEMU, come shop like billionnaire" as the mid-video ad 😂

[@bomberoretired9197]

Very informative. I wish more people would watch these videos. Great content. Thank you.

[@danicegewiss862]

I work for Amazon and my husband is a city worker. We invest in Index Funds. We have no credit card debt or car payments. My car is 8 and my husband's truck is 22. We will be millionaires soon. I also have an emergency fund set up for us. It constantly grows.

[@ChrisInvests]

That's great to hear! What do you do at Amazon?

[@danicegewiss862]

@@ChrisInvests They call us warehouse associates. We unload trucks, sort the merchandise, and get it ready to go out to the customer. It's physical labor, but it pays well. I love the company.

[@JP-tk3tf]

Can’t believe teachers are on the top 5 list of millionaires. That’s mind blowing

[@athens31415]

Yep. Teachers, while exploited in pay, are incredibly smart people.

[@jaredbowers9503]

My high school Econ teacher invested in Amazon when it was a book store; I needn’t elaborate

[@ericeven4090]

The truly richest people I have ever known have looked like the poorest people.

[@robles100]

The truly richest people are those who are happier with less and NOT the ones with more money.

[@johnmartin4641]

@@robles100 that’s only true in fantasy land. Being happier with less doesn’t pay the bills and send your kids to college in real life. Trump was interviewed by Robert Kiosaki years ago and they talked about this and said money takes away a lot of your stress because if he have lots of money, you’re not worried about healthcare bills and your kids’ college education or your mortgage or your car payments or unexpected expenses, which ultimately makes you happier.

[@robles100]

@@johnmartin4641 I thought you were smart enough to understand what I'm talking about. I never said you don't need money to survive in life. When I said happy with less,, I didn't mean no money at all. In my case my mortgage is almost paid off, I sent my two kids to college. My son is a Biomedical engineer, my daughter soon to be a doctor , I have never had the need to put my wife to work so she can take care of all of us including my kids. I have no debt whatsoever, everything is paid off and I don't to use a credit card for living expenses. But despite all of that, I don't look at money AS THE ONLY THING THAT MATTERS.

[@evanb2256]

Tell me where in your life do you have less? You just described the upper middle class to upper class lifestyle.

[@gymlaxbro]

Roughly 40% of my income I’ve been investing since 21. Today I am a 28 year old millionaire.

[@MrVibriocholerae]

Well done, im also 28 with a net worth of 850k. Hoping to double it by the end of the year.

[@dennish3664]

7 years of investing 80k annually (40% of 200k) with a 20% rate of return gets you 1.03M. What field are you in?

[@Ryan-wx1bi]

@@dennish3664 probably just struck gold on a few good investments that netted well over a couple hundred %.

[@gymlaxbro]

@@dennish3664 re invested into my business 😁

[@gymlaxbro]

@@dennish3664 also a very profitable house purchase

[@jackreign67]

Love your videos . Very simple and straight to the point. Keep up the good work Chris

[@bailey-k6b]

After viewing this, I just looked at my savings and added more $ into my TFSA's. Last week I paid $5,000 to knock off some of the principal of my mortgage. Feels like a great way to start off 2023!

[@untitledC64]

cringe at mutual funds, just buy low cost index funds or etf

[@unaccompaniedseal4035]

@@untitledC64 No one said anything about mutual funds.

[@HeathM970]

Great video. Shared it to my kids to try to reinforce what I’ve been trying to teach them. Maybe they’ll listen to you. 😂

[@ChrisInvests]

Hopefully they will listen...you did your part, right? 😁

[@jeffsnow7749]

Good video! Straight forward, convincing and inspirational! 😊

[@ChrisInvests]

Glad you enjoyed it 😁

[@johnmcginnis5201]

There is an additional way to generate wealth: * Does your company offer an employee discount stock purchase plan? And, * Is the stock cyclical in nature? At one time I worked for GTE (now Verizon). They offered a employee stock purchase option based on your income level. Being a utility the company managed their treasury shares usually in January. So you acquired shares in February and sold in December when the stock was traditionally at a high. Initially I borrowed using the shares as collateral, maxxing my shares every year. I would invest the proceeds into the next cycle. Rinse and repeat. At year four I was acquiring my max shares cash only and did so till I retired. It added greatly to my net worth. Its a fairly risk free approach if you can identify the key elements.

[@Ethan-bu2zy]

This is exactly how my uncle became wealthy.

[@davehope9144]

A million dollars ain’t what it used to be. A “millionaire” when a house cost 20 grand in the 1960’s is a lot different then a “millionaire” in 2023 when a house costs 500 grand are quite different things

[@ChrisInvests]

True

[@teddyruxpin7876]

skewed way at looking at this. What is the wage difference?

[@TheFirstRealChewy]

People that look rich are either not rich, or richer than they appear. The people who look rich but aren't rich tend to be the people who earn a lot but also spend a lot. Everyone who is rich is frugal! Whether they look rich or not depends on how frugal and flashy they are. Yes, every rich (as in wealthy) person is frugal. Remember that it's all relative. For example, the millionaire who drive a Honda could be just as frugal as the multi-millionaire who drives a Maserati and the billionaire who drives a Bugatti.

[@chrisbentley71]

Time is the most important part IMO

[@Brian-dh9lp]

Health too!

[@nefuros551]

Teachers account for the largest percentage of millionaires in America. Let that sink in

[@ChrisInvests]

I knew teaching was in the top 5 professions of millionaires....

[@wealthbuildingstory]

Great video as usual!

[@ChrisInvests]

I appreciate it 😁 Thanks for watching!

[@ciscoshibler3214]

Love your videos! I'm at the beginning of the journey, but I put money in every week. Thank you for your insight!

[@ChrisInvests]

Great! Thanks for watching.

[@k_kelsey]

Good work! Keep it up!!!!

[@vladrazym9955]

So true. Im glad that a broader auditory can see the point of being selfconsious about theis spendings and savings

[@CAGChannel1]

No rent increases, but the increases in property taxes are ghastly.

[@aaront936]

What do you think causes rent increases?

[@CAGChannel1]

@@aaront936 so, the argument doesn’t work then. You do not have stable payments as a home owners right now. Not only that, but there are also increases in home owners insurance that is required to have a mortgage. I’m just saying payments do not remain stable in all areas as a homeowner.

[@MrEscape314]

At 1:31 you say that "1/3 never made more than 6 figures". Then you write the never made more than $100k. Which is it?

[@friedec3622]

Out of 10 millionaires, 3 of them averaged with $100k/year income 3 of them never have $100k/year income And the rest have more than $100k/year income

[@english2me694]

"more than six figures" means anything over the first six figure dollar. It does not mean 7 figures. It's more polite to say "at least one hundred thousand" this way because some people get uncomfortable when talking about money and specific numbers in particular.

[@MrEscape314]

@@english2me694 I guess I just thought about it differently. To me, if I'm making $200k, I'm making low six figures. If I'm making $700k, I'm making high six figures. If I'm making more than $999k, I'm making more than 6 figures. I can see that if I'm making $100k, that's six figures and $101k is more than that.. so it's more than six figures, but still six figures. The more I think about this, the more confusing it becomes. Oh well.. Thanks for the comments.

[@zacharyelias4643]

Sometimes I wonder if it is better to be broke on a yacht, or wealthy in a Honda. It can take a lifetime to accumulate millions of dollars, but only the flick of a pen or the click of a mouse to spend it all.

[@mikezerker6925]

It’s more stressful to be broke… whether on a yacht or a dinghy

[@Drift0x]

I want to be the millionaire on the Honda, please

[@viewfromthehighchairr]

I find myself at a crossroads, uncertain whether to liquidate my $150,000 stock portfolio. I'm seeking advice on the best strategy to capitalize on this current market.

[@AliceHh_]

Well the bigger the risk, the bigger the reward and such impeccable decisions are better guided by professionals.

[@Too-old-Forthischet]

Very true. Despite having no prior investing knowledge, I started investing before the pandemic and pulled in a profit of approximately $950k that same year. In reality, all I was doing was getting professional advice.

[@viewfromthehighchairr]

I’ve been looking to switch to an advisor for a while now. Any help pointing me to who your advisor is?

[@Too-old-Forthischet]

There are a lot of independent advisors you might look into. But i work with Nicole Desiree Simon, and she is excellent. You could proceed with her if she satisfies your discretion. I endorse her

[@viewfromthehighchairr]

Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.

[@EazyE11]

The best investment you can make is buying a politician and having them rewrite the tax code and cut IRS funding for you.

[@hiphopjewels]

I'm only worth 3/4 million, and drive a Ford. Nice to know I'm on my way. lol First!

[@ChrisInvests]

Great 😀👍

[@TheFrugalMillionaire]

So true!

[@KC-mw9gj]

Yup all true

[@rl9817]

Bro from 1931: “A millionaire ain’t rich.”

[@KetchupKidKyle]

There is a channel called Budget Boosters that is seemingly ripping your content directly.

[@kmsupercars]

Live in an asset, drive an asset that both appreciate.

[@gregtomamichel973]

Happy to report millionaire status, we drive 9 year old Subaru and 18 year old Toyota. I also look like a dishevelled mess!

[@ChrisInvests]

Great! 👍

[@Donkeyearsa]

I don't understand this fascination with millionaires today. If you want an OK retirement right now in your late 60s you will need a million dollars. So a millionaire is not rich in any way today. Someone who is rich is someone who has obtained a stupidly high amount of money. Even someone who has obtained ten million dollars is not all that rich. Some one who has ten million dollars can reasonable draw only what is considered borderline lower upper class. To equal the stock portfolio of a millionaire in the early 1940s you would have to have in excess of three hundred and fifty million dollars today. Someone who is in high-school today when they are retired a low income house will cost well in excess of a million dollars.

[@tj.marten]

Need to be a millionaire to afford a house these days

[@MeatballMedic]

People underestimate the power of a pension. I get $3,750 a month adjusted for inflation the rest of my life. I know a retired couple that has 5 pensions and disability pay between the two of them making $25,000 a month NOT including his 4% off investments. People can easily get a good job with a great pension but refuse to work at a place like the post office because they are either too lazy or too proud but are fine with paying $200,000 in student loans for a job that pays less with no retirement.

[@ChrisInvests]

Glad it worked out for you 👍

[@frankalexander5401]

My neworth in 8 figures and my income in 2022 was $800,000. NO DEBT. Both houses I own are paid for (no mortgages). No credit card debt. Live in a small home in a very affluent town, drive a 2011 Prius, clothes comes from NEX or AAFES stores or Costco. Watch was military issued (free to me).

[@tvb4227]

Im 25 with a saving of 70k. Total networth of 100k (No career). xD Luckily i woke up at age of 22 by self-learning not the age of 25-30. I did spend money on useless things at the age of 18-22. But luckily i was still young that time and a lot of people are not really making that much around that age. Im about to buy my first property with %20 down payment at age 26-27. Im so excited xD.

[@mrphatmunkeyspew6969]

I would give a $1000 dollars to be a millionaire.

[@dancovrboski9135]

Hori. Nati. Bogastvo.. Wohmypravam.. Hego. Hyvam do 2029 godna

[@danielthumm6777]

Being a millionaire nowadays is neither very hard (its not easy but possible for nearly everyone) nor is the definition very worthy… Having a net worth of 1 million isn’t very much if a single family home already costs that much…

[@dreadheadbandz1943]

This is so true & nobody speaks on it. Idc if you have a networth of 2M if a million of that is locked up in the house you live in. They only have that one house too so its not like they're selling it

[@reddragon3518]

I have three million. Are there any questions you have for me?

[@foodguy3435]

Did u do it by investing in index funds?

[@donaldlyons17]

@@foodguy3435 Not likely unless he has be doing it for 20 to 40 years!!!!

[@pensacola321]

How come you don't have more...

[@reddragon3518]

@@foodguy3435 yes dollar cost averaging from 1997 fully in. That includes my wife’s who has done the same. We also did Roth’s.

[@reddragon3518]

@@donaldlyons17 yes from 1997

[@attattatt]

If you didn't intuitively know that you should spend little and save most then this video won't help you.

[@brianpso]

Net worth doesn't matter, what matters to me is being a millionaire in assets that are generating wealth, not adding up a house and a car that are not bringing me money daily.

[@xFENRISx]

What perception of mine was wrong? 🤔

[@warrentrout]

If you think a million is rich, you must be quite poor.

[@MrVibriocholerae]

Being rich is not measured by net worth. It is very subjective. But remember to be grateful of what you have, especially with money

[@whitneyeaton5585]

Sorry, this one is too Damm negative, 4 million!??, saving 35,000 a year??. Really??

[@Stone_624]

If you're goal is to be "Worth" a million dollars, This is fine advice, But Being "Worth" a million dollars doesn't mean much if you can't access a Million dollars. 401K is a terrible investment if you want to be a millionaire BEFORE you retire. A House is a terrible investment if you want to ever actually HAVE A Million dollars. I'm 28 Years old. I have no desire to wait until 65 to become a millionaire. I'm going to be disappointed with myself if I'm not a Millionaire by 35. And that's $1 Million Cash, In the bank (or liquid investments), that I could actually USE if I wanted to, Not $1 Million in a house But Whoops I borrowed $800,000 and have a $1,600,000 Liability.

[@tylergable2445]

How do you plan on doing that big boy 😂

[@Stone_624]

@@tylergable2445 saving >50% of my income and investing aggressively in a taxable account. I’ve ran a 50K/month family business for the past 4 years, for a guy who I home stayed with who’s worth in the 10’s of Millions. I’ve got a side project going related to the business I’m hoping to commercialize eventually, as well as a handful of other business ideas for down the road. I’ve been investing for just over a year, and over doubled my money in 2022. If this was a bear market, I can’t wait to see what a bull market looks like.

[@teddyruxpin7876]

crappy advice here, do not listen to. Do the opposite.

[@johntorrington2672]

I'm 51 and completely agree. This has always been how I view ACTUAL wealth. Money in the bank value, not houses or investments.

[@tylergable2445]

@@Stone_624 well good on you man!

[@dancovrboski9135]

USA danso vrboski bitonot e severna Makedonija evropa od prilep hovek bez wkolo stana milader

[@paulinejackson5861]

Accumulating wealth is still very difficult for women.

[@teddyruxpin7876]

woe me. Victim mentality, melt away snowflake.

[@joemcbride3564]

Teachers making a millions on the backs of average tax payers?...umm...

[@Encourageable]

So, the people that are rich don’t look rich. They save and save and save and don’t enjoy the fruits of their labor. Cool. Stay in your house, don’t travel, don’t buy a nice car. Never upgrade anything. Die with a million in the bank. That isn’t success, that’s stupid.

[@ChrisInvests]

Maybe somewhere in between?

[@TheFirstRealChewy]

I think you are misunderstanding something. You have to remember why you are working. It's not to spend money, it's to live your life. Each person's lifestyle has a different cost. Just like its possible to make less than you need to support the lifestyle you want, it's possible to make more than you need to support the lifestyle you want. In my case, I don't want to work for the rest of my life and I want to have a nice house, eat good food, travel and have a good time. If I won the lottery and walked away with $300 million after taxes I'd quit my job immediately, help out family, and take $1 million to travel and have fun. I'd then invest the rest and use the money from the investment to try and do some good in the world.

[@bigshoe84]

If that’s your mindset you may be watching the wrong KZbinr

[@MrVibriocholerae]

I agree with you, but you have to define rich first. In my eyes, rich is a person who can buy anything by using only passive income. So if i wann to buy a Lamborghini that costs 300k, i need to be able to generate 300k in 5 years passively. That would be possible with a net worth of 1,7m. But why buy a Lamborghini then and not another asset that is going to generate more passive income instead?

[@ordinaryhuman5645]

The simple reality is that being a millionaire requires having $1,000,000 unspent dollars. If you insist on spending everything you earn, you'll never be a millionaire no matter how much income you have. And that's fine, if you'd rather keep running on the hedonic treadmill for the rest of your life. Go for it! And keep paying taxes for me, lol.

[@joshuamoats8643]