How the Middle Class Millionaire Enjoys Wealth

[@ElAgustin]

Stop leaving yourself vulnerable to data breaches. Go to my sponsor aura.com/austinwilliams to get a 14-day free trial and see if any of your data has been exposed.

[@SouLoveReal]

A classic case (great explanation) of *_"...you can't HAVE your cake and EAT it, too..."_* Thank you, El Agustín... (Fan from San Francisco, California.) *!!~

[@harpomark5468]

0000 😊z😊😊😊0¡😊​@@SouLoveReal

[@harpomark5468]

1

[@mrpmj00]

Life is short and you only get 1 life to live, and you can't take $ with you. I invest in stocks (Microsoft, Apple, Wells Fargo, Google) but I also spend on: -vacations -new 2017 Corvette with stickshift - new 2024 Cadillac - new 2019 Toyota Camry - 2016 VW Jetta - hifi highend stereo 2.2 setup - 7.4.4 home theater - house in the best neighborhoods

[@daviddean6032]

As a 65 year old man, I can guarantee you that there’s nothing as nice than a good nest egg in the bank.

[@ElAgustin]

Thanks, Mr Dean!

[@SouLoveReal]

As a 68-year-old man, *".................ditto.................."*

[@UTP504]

I believe you, sir, less stress.

[@Just_a_good_old_boy]

You senior citizens have so much wisdom!

[@bartbieniek7318]

Maybe back then. Now a big nest egg in a bank is a financial suicide because of how quick the gov prints the dollars out of thin air, devaluing what you saved.

[@laundrygoddess4]

Financial long term security gives you a sense of calm that no matter what happens, you'll be ok. That is priceless

[@plappin]

Feeling that you have enough -- of anything -- is very satisfying, whether it's money, love, possessions, etc. It allows us to live in peace, and I think that's what most of us truly desire. Excellent video as always!

[@therichbuddha3277]

certainly, but many have a concept of enough that is actually too much. Being content with less is even more satisfying.

[@JackF0372]

Money can buy many things, but the most important one that you mentioned is a sense of security.

[@leena118]

I remember reading The Millionaire Next Door book and being blown away that there were actually "ordinary" people who were millionaires. The American stock market is such a great wealth-building tool.

[@mtngrl5859]

What was most incredible about the book is that most millionaires are first generation Americans, so they created their wealth, they didn't inherit it. Many people who own simple businesses like Dry cleaners and non-techie type businesses have considerable wealth.

[@sstritmatter2158]

Great read - nostalgia moment

[@Wanwan-mq3jw]

I m now 50 and at around 2.5 Million. Invested in real estate and stocks. Do i live different? No. But i sleep very well at night.

[@ozawajin]

That's exactly it. Peace of Mind that you get from having over million dollars is just priceless.

[@ChristianJacquet-my3rl]

I'm loving my retirement so far! My wife and I worked hard to reach this point - we're both retired, debt-free, and fortunate to have over $3 million in net worth. We achieved this through a saving and investing lifestyle in the stock market, which now generates weekly income for us. And now, we get to enjoy the fruits of our labor! We're traveling, golfing, and spending quality time with the grandkids. we feel grateful to be living smart and frugal, making the most of our golden years.

[@bradhankins-x5j]

Absolutely! I'm in the same boat. I just got back from a road trip across the country. It's amazing how much energy and freedom we have now. Make the most of it, because it won't last forever!

[@JonesMichael-ps4ck]

I'm a young dad and I'm really glad to hear your story - it inspires me! I'm still working, but I'm counting down the days until I can enjoy my retirement years! Can you please share your tips? What's the key to achieving financial freedom and making the most of this milestone? Any advice would be greatly appreciated!

[@ChristianJacquet-my3rl]

There’s a lot of investing options (real estate,airbnb,stocks,cr.ypto,ETFs) my best advice? Find an expert who can help grow your funds , Create a personalized plan and better prepare you for a successful retirement.

[@JonesMichael-ps4ck]

Thanks for the tip! Can you point me in the direction of a trusted expert who can help me make the most of my investments?

[@ChristianJacquet-my3rl]

sure .He's known as a Glen Howard Chester '. One of the finest portfolio managers and expert in the field also widely recognized. Just research the name. You’d find necessary details to work with

[@raverboy0757]

Somehow your videos popped up in my feed a few months ago. I started watching. Had bad shopping addiction my entire life. Decided I'm done. Got a second job, worked 70 hrs a week all summer, just got all my CC debt paid off last weekend. I started a 401k, opened a Roth IRA, got a capitol one high interest savings account and finished reading Miilionaire Next Door. This was my first check I've ever had that totally belongs to me, it's such a surreal feeling. Your channel really inspired me to get it together, and it's only been 3 months. Thanks!

[@michelleheadrick951]

Thats so inspiring

[@heidi5452]

Wow! Congrats

[@BB-sf7jv]

Make sure your partner is on the same page of you when it comes to money otherwise it’s like trying to fill a barrel full of holes with water.

[@Tsunaniis-j5l]

There is an equal market chance associated with each crash or collapse. I have seen people accumulate up to $1 million during a crisis, and even make it work in a strong economy if they are prepared and well-informed. Without a doubt, the bubble/collapse is making someone wealthy.

[@Donnald.]

I completely agree. It's not just about the dividends or profits, Diversifying a portfolio can be a smart move and i always advise one gets a professional to help out.

[@Damncars456]

The issue is most people have the "I want to do it myself mentality" but not equipped enough for a crash, hence get burnt, no offense. In general, Financial Consultants are ideal reps for investing jobs, and at firsthand encounter, since Jan.2020, amidst covid outbreak, my portfolio has yielded massively in ROI, summing up to 7-figures as of today.

[@MakeamericaGreatagain-h7j]

I'm intrigued by this. I've searched for financial advisors online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?

[@Damncars456]

I'm cautious about giving specific recommendations since this is an online forum and everyone situation is unique, but I've worked with Melissa Elise Robinson for years and highly recommend her. Look her up to see if she meets your criteria.

[@Ragtosina]

Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.

[@juliem.3936]

Being debt-free and having money in the bank is true wealth! (Can't wait to get there!) I put a fraud alert and freeze on my credit account with the three main credit bureaus, and it was free.

[@barbararios246]

Peace of mind is priceless. Ex when u buy something u get a rush then that goes away very quickly

[@meropale]

Completely agree.

[@luisasterioquerubin6829]

Frugality is still the most reliable policy​@@meropale

[@dianncotterell5531]

I agree

[@treeroofgrass]

I heard Dr Phil say “you buy the feeling of buying the product”

[@Avo7bProject]

I learned that about 15 years ago. I bought a home that was a little larger than the one my parents raised me in, in a nice suburban area. I felt impressed with myself for a few months, to look at it and say "Wow I accomplished something". Then it just became a door to open each day after work, and sit at the computer or eat in the kitchen. I never even furnished 3 of the rooms. I was relieved to rent it out 5 years later to a family that wanted to be in that school district and let them cover the mortgage. I'm content now in a smaller home outside the city limits.

[@snowbluebear2795]

god I fucking love your videos. You're the perfect mix between philosophy, personal finance, and comedy. Please never stop.

[@ElAgustin]

I'm glad!

[@mmmmmmmmm661]

me too !

[@rocmiller3]

The greatest thing about money is it can buy you time. Time is our most valuable asset

[@leondonald]

One lesson I've learnt from billionaires is to always put your money to work, and diversifying your investments. I'm planning to invest about $30k of my savings in stocks this year, and I hope I make profits.

[@ilyaveysman.]

You are right. The best approach I feel is to diversify investments- by spreading investments across different asset classes like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown.

[@Walter_hill_]

That makes sense. I’ve been using a financial market expert for two years now and I own a six-figure diversified portfolio from investing in stocks. I want to diversify more this year, though.

[@Trevor_Morrow_LTD]

Your advisor must be really good. How I can get in touch? My retirement portfolio's decline is a concern, and I could use some guidance.

[@Walter_hill_]

Vivian Jean Wilhelm is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment

[@Trevor_Morrow_LTD]

Thank you for this tip. It was easy to find your advisor. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.

[@theneatgeek4536]

Options- like being able to pay cash for a new house when you want to move so you can get a cheaper price, BEFORE you even sold your current house… so you don’t have to juggle mortgage companies and moving dates. Move once the new house closes and then put your current house on the market without you living in it. No hurry to sell so you can get the best price

[@treesnmoguls]

If my paid for car is totaled or stolen, aside from the emotion: NO PROBLEM! If I am fired/laid off: NO PROBLEM, no financial fire! If I get really sick: Well, would suck, but money would NOT be the real problem. Piece of mind is priceless!

[@bartdoo5757]

I 100% agree!!!!

[@Riggsnic_co]

As an investment enthusiast, I often wonder how top level investors are able to become millionaires off investing. I do have a significant amount of capital that is required to start up but I have no idea what strategies and direction I need to approach to help me make over $400k like some people are this season.

[@Jamessmith-12]

I believe the safest approach is to diversify investments especially under professional; guide. You can mitigate the effects of a market meltdown by diversifying their investments across different asset classes such as stocks, etfs etc It is important to seek the advice of an expert.

[@kevinmarten]

Review your portfolio with a professional and don't make the same mistakes again. Diversify, as in your stock portfolio, and hopefully consult a professional. The key to building wealth is long term. I learned 30 years ago that you have to keep emotions (rookie) out of your investment decisions at all cost. Now, i've made over 800k in profits from my 350k investment.

[@JacquelinePerrira]

That does make a lot of sense, unlike us, you seem to have the Market figured out. Who is this coach?

[@kevinmarten]

'Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

[@JacquelinePerrira]

Thank you so much for your helpful tip! I was able to verify the person and book a call session with her. She seems very proficient and I'm really grateful for your guidance

[@marcusfieldfield4069]

Hey Austin YOU will be a quiet millionaire soon !! 100K subscribers and still growing🤩

[@ElAgustin]

Thanks for sticking around throughout this journey, Marcus!!! You've been around since the beginning and it's nice to see people stick around for a while!!! It means a lot! As long as I can keep paying the bills I'm happy!

[@northernsummer8217]

An old friend was laughing at me a couple of years ago: you don’t know how to live! Why don’t you splurge on something that makes you happy. All things they mentioned were a material stuff. Nothing I can buy makes me feel as good as a feeling of financial security. Once I went grocery shopping without my wallet, realized too late, had to use a small amount of cash found in the pockets. I did not like the limitations one bit! It feels great to be able easily cover all your needs, purchase things in cash - from real estate to auto to kid’s wedding etc. And when a family member was diagnosed with dementia the savings were able to buy more time to spend with them, better quality of care and peace of mind that sky at least financially was not falling.

[@KimberlyO.Kitchens]

My wife is already panicking, so many questions! will the rate cut lead to inflation? I'm very worried about my $900k stock portfolio losing value. Do i move to 100% cash? What strategies should I be employing in my portfolio right now?

[@heatherj-o5j]

Consider investment planning; learning from an experienced advisor is very valuable.

[@pauline-o2q]

That’s right. I’m a wife, mother of four, and new grandmother. After 28 years in Corporate America, I recently retired at 57. Since the pandemic in early 2020, I’ve been investing and grew my $250,000 savings to nearly $1 million, thanks to my investment advisor.

[@DanielleB.Wooten]

I’ve been considering getting one, but haven't been proactive about it. Can you recommend your advisor? I could really use some assistance.

[@pauline-o2q]

I'm cautious about giving specific recommendations since this is an online forum and everyone situation is unique, but I've worked with Jessica Lee Horst for years and highly recommend her. Look her up to see if she meets your criteria

[@KarenJ.Mancia]

Wow!! her track record looks really good from what I found online.i just filled the form and scheduled for a call. Thanks to you.

[@steveanderson831]

Buy NOTHING except essentials.

[@SouLoveReal]

(I've) *_BEEN there... DO that._*

[@mysticaltyger2009]

That's fine when you're broke, but I've learned if your income goes up, it's ok to live a little. The key phrase is "a little". It doesn't mean spending everything you earn.

[@mmmmmmmmm661]

@@mysticaltyger2009 keyword lifestyle inflation.

[@FinancesOnBitcoin]

That’s no fun. There has to be a balance. “All work and no play, makes Jack a sad boy”

[@wealthelife]

Q: "What is the point of having a million dollars if you don't spend it?" A: "To end up with $2M, then $4M, then $8M etc." ;) Everyone needs a hobby -- mine is to collect net worth.

[@martywilliard]

And to pass on a legacy

[@kurts6741]

Growing my net worth is a fun game.

[@tombkk1322]

Yes it’s addictive 😊

[@blackgrandpa7652]

I'm that 53 year middle class millionaire life debt free and assets increasing in value 😂

[@kevinfestner6126]

I recall one Episode of Gilligan's Island where Mr. Howell adopts Gilligan as his son. One question Thurston Howell the third asks Gilligan, what do you do with money. Gilligan answers, spend it. Howell interrupts, No, make more of it. That one exchange has had a deep affect on me. Use money to make money.

[@Luncheon23]

Nodding my head in agreement with all of the points in this video. While I am not yet a millionaire, I do have investments and emergency funds and it removes a lot of worry. Very refreshing video Agustin.

[@ElAgustin]

Thanks!

[@stephn153]

I’ve been watching your videos from the beginning and wanted to say that I look forward to Fridays to watch a new video! Thank you for sharing your frugal topics 😃

[@ElAgustin]

Thanks for sticking around throughout this process!! It's been quite the journey!! I've grown a lot throughout it all!

[@DoctaV]

Great video, thanks. I realized at the age of 43 that I had tied up too much of my self worth in the idea of spending money to escape my childhood where my parents were anxious over finances. Burning money isn't a flex. Self-control and delayed gratification is the real flex.

[@pensacola321]

Nothing is better than having FU money.

[@situated4]

Yes. You have FU money when you're not dependent on “this” job, and you have FI money when you're not dependent on “any” job .

[@Susanhartman.]

I began my investment journey at the age of 38, primarily through hard work and dedication. Now at the age of 42, I am thrilled to share that my passive income exceeded $100k in a single month for the first time. This success reinforces the importance of the advice mentioned earlier. It is not about achieving quick wealth, but rather ensuring long-term financial prosperity

[@ThomasChai05]

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.

[@mikegarvey17]

By closely monitoring my portfolio, I've seen an impressive growth of $483k in just the past two quarters. This has shown me how experienced traders can generate significant returns, even in niche markets. It's safe to say that this bold decision has been one of the most impactful choices I've made recently.

[@mikegarvey17]

Safe to say not everybody has the skill to pursue investing. But it's always easy to follow the advice of someone who knows how to i.e a financial advisor. You could anywhere between 10--40k with the right ones. Online businesses are a good bet too if you are savvy.

[@mariaguerrero08]

@@mikegarvey17Impressive can you share more info?

[@mikegarvey17]

*Izella Annette Anderson* is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

[@alistairrobinson3865]

I’m one of those broke looking millionaires that never spends much money (and didn’t come from money), I’m happy with my corporate job, but I’m happier knowing that whenever they eventually fire me I won’t need to look for another 🙏

[@meydiaengka]

Peace of mind. Security. The ability to sleep well at night knowing you always have food in the fridge and you dont have any debt that holds you back❤ Im not there yet but i will get there😅

[@DogMomAdventures-h24]

Peace of mind is priceless

[@ElAgustin]

It is!

[@ThomasSmith14562]

it’s kinda crazy how nobody’s talking about the forbidden ebook called 25 Money Secrets From Donald Trump

[@victorymel8732]

I just love the way you speak . I enjoy watching your videos. Thank you for sharing them.

[@TigerTsunami404]

As a multi-millionaire early 40's - it's tied up in home equity, 401k, kids college savings, & stock investments. I drive my paid off Honda Accord and can't remember the last time I bought clothes, I'm the person you would never expect if you sat next to me on the plane because I'm not a big consumer. Still live life the way I want to live, but just keep finances simple. Stay consistent and understand that short term deferred money can lead to long term growth. Let your money work for you

[@leannejayne3545]

Peace of mind & security is priceless! excellent video as always Austin, have a lovely weekend x

[@ElAgustin]

You as well!!

[@henrychinaski3720]

“If you love your money your money will love you.” -- me

[@richardackley1823]

I love your slogan, never thought of it that way but it feels right.

[@splod44]

My " salary " is $ 80,000 a year I do not have a job my money works for me now. Life is great

[@henrychinaski3720]

Also, Jesus once said “the poor will always be with you” (us). He failed to mention “The Stupid” will always be with us too…

[@SouLoveReal]

@henry... And I've experienced throghout my life, that The Stupid are not necessarily poor... The Stupid ARE the perpetually BROKE (the IN-DEBT), regardless of level of income. Stay away from broke people. 👍👍

[@halfdollar1]

Took me into my late 40’s to reach that millionaire status. Not doing that again. Same car for 10 years. Bought a modest townhome in a nice neighborhood in 2016 as passive income and made it my home in 2021 after flipping the bird to the manager at that previous employer in another state. I still work but its totally remote. I would also stop working before commuting like I did at that previous job. Yes, that million dollars provides me the security and confidence to take a little risk in life but its foremost my shield against many of life’s challenges folks are dealing with lately.

[@andreabellini6796]

I own a fairly successful housekeeping business and although I drive a Hyundai and thrift shop the last couple years I constantly have acquaintances asking to borrow money 😢. It’s annoying for me to constantly say no

[@genxx2724]

Dave Ramsey says you should suggest that they get a loan from the bank. When they tell you the bank won’t lend them money, tell them the bank is in a better position than you are to determine whether they are able to pay it back.

[@mrpmj00]

Life is short and you only get 1 life to live, and you can't take $ with you. I invest in stocks (Microsoft, Apple, Wells Fargo, Google) but I also spend on: -vacations -new 2017 Corvette with stickshift - new 2024 Cadillac - new 2019 Toyota Camry - 2016 VW Jetta - hifi highend stereo 2.2 setup - 7.4.4 home theater - house in the best neighborhoods

[@kws5354]

My wife and I are middle class millionaires. 32% our house and 68% in stock,etfs and a bit of cash. We live in a barely middle middle class neighborhood, drive a used minivan ans a 17 year old pickup. We shop at Walmart. Nobody has a clue about our wealth. The money buys peace of mind. We do not have fianancial emergencies. That is worth a lot to us. BTW my best year was 58K

[@paulaa6373]

Ive recently listened to a podcast interview with a tech guy who sold his company for $25 bi and lived with 5k a month. He said he didnt want his family to know and friends because he noticed that those who knew he had done well in tech always expected him to pay for stuff, or always wanted to meet up to ask for things. He said he needed to find new friends who were also financially successful like him so that the expectations are just to learn from each other and not take advantage

[@BradMalley-ce5hd]

You enjoy it with the security of knowing that you are always going to be okay, it also generates income . If you blow it all , you won't have a million anymore. It also elevates the thought of (I have to so this job , forever ?) Waking up in a good mood all the time , general sense of well being all the time. Also the motivation to be aware of risks with health and financial, so gets my rear end in the gym

[@pawec.1787]

$1M can make $100k in passive income through the stock market - very optimistic approach

[@Zachery_]

It’s it’s all in S&P, S&P has on average made over 10%, but I wouldn’t call that my income

[@edinnorthcarolina--ovelhog5786]

JEPI, JEPQ. It's not hard.

[@pawec.1787]

@@edinnorthcarolina--ovelhog5786 what about taxes?

[@michelleheadrick951]

​@@Zachery_yep Austin even has a video to show you how to invest in S&P 500 with low cost index funds...I was still nervous about investing so I put a small amount in the account, just to watch and learn, and sure enough in a year my little $200 investment grew to $237

[@SamuelGriffin]

Only spend 4%. So really you could spend 40k per year and maintain your 1m balance

[@HectorWhitney]

The whole point of wealth for me is freedom. My magic number in my mind is 5 million needed at 65 to not worry about anything. Am i better off investing a good portion of my income into stocks or real estate to achieve this goal?

[@Vincent-j8u]

Varied sources of income is wise and especially living within your means. My net worth is $2M and I can pay my bills with no stress, but I don't live like I have that. I have no complaints.

[@PaulKatrina.]

Money advice is subjective, what works for you may not work for someone else, but it's always better to plan. I'm quite lucky exposed to personal finance at an early age, started job 19, bought first home 28, got laid-off work 36 amid covid-outbreak, and at once I consulted an advisor to handle growing my finance. As of today, I'm only 25% short of my $1m goal after subsequent investments.

[@ScottKindle-bk3hx]

Please can you leave the info of your lnvestment advsor here? I’m in dire need for one

[@PaulKatrina.]

Finding financial advisors like Sophia Maurine Lanting who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.

[@ChristianKelv]

I just googled her name and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a call.

[@nanceebirdlover5222]

Money isnt just sitting there,its busy multiplying! So cool. Savings provide the freedom to choose. That freedom far outways any impulse buy IMO. GReat video BTW!

[@411sponge72]

This video is gold!! Everything you mentioned is true!

[@CourtneyRobinson]

Knowing that money provides us a salary for the rest of our life is a security like no other.

[@judyduncan1852]

My favorite channel. Always great information in a calm straightforward manner.

[@mozar5175]

I am one of those millionaires! I was at age 45 and now the nest egg has grown. I retired at 58 although I was working part time at age 51. What money does for me is that I don’t have to think about money. I’ve been tracking all my monthly expenses for the past 8 years so I know exactly where the money goes and how much I spend. So I know I can pretty much buy anything I want acting reasonably. In any given year, I don’t even spend the dividends and interests so the capital doesn’t diminish. Believe me, it’s a great place to be in life!

[@maness2112]

Compound interest is a helluva drug.

[@Ozymandias-r2v]

Leaving money to sit in the bank is just stupid. The money should be invested. Otherwise your "long term security" will degrade with inflation.

[@stu8642]

2:53 You just had to bring Joey into this, didn't you.

[@jerinebengala9863]

Always listening to your content that makes sense. Thank you!

[@jeffsnow7749]

Intangible benefits: YES, but most people are not aware of them!

[@botialoach1]

As always Austin you are right 100% again, keep up the excellent work you are doing

[@mnmaddict37532]

I'm a 56 year old multi-millionaire not including home equity from my 2 Los Angeles properties. I saved, but mostly invested from my first paycheck and lived modestly throughout my life. I have specialized skills and knowledge and my company knows I have "F U" money, so they never "F" with me. It's a great feeling to know I can walk away anytime. I love what I do and the people around me, so I'm really grateful.

[@hialeahkid2]

A million is now about 3 million US .

[@michelleheadrick951]

Hey Austin awesome book idea: Middle class millionaires 🙌 🤑

[@NiklasAndersson7]

Knowing you can take a couple of years off, or retiring completely, or relocate to anywhere in the world. Priceless.

[@callmeishmaelk767]

I have everything I need and want on a modest income. Money in the bank allows me to keep on keeping on happily at the same level I'm accustomed to, and that happiness has nothing to do with expensive consumer items.

[@Avo7bProject]

All the points made in this video are good - but a missing one is that when you have savings, you can hire other people to do the things that you just don't want to do. Yeah, I could save money doing some home/auto repairs myself. But I save money in plenty of other ways. Somebody else can do the wrenching, climb on a roof, move a heavy appliance, or saw and hammer in a crawlspace.

[@jaime3452]

1M subs let’s go!

[@liaisonguy]

Lol, middle class millionaires don't leave it all "in the bank". We invest most of it so it makes us more money.

[@roustabout4fun]

Good points! Also...I used to but now, I never have the erge to gamble..except the market. Best to be only maybe 30-40% in the market depending on age and health.

[@MoneyandLifeTV]

I practice quiet poverty aka “diet millionaire”

[@b2zap665]

Love your channel man! Always speaking facts.🙏

[@KBWFreedomthrurealestate]

Money should make more money!

[@deelehey2827]

Jealousy from relatives and neighbors makes the millionaire want to hide it.

[@vancouverlife1040]

I enjoy my money growing in my bank while my friends spend money on girls and expensive cars. Im 40 and have over a million dollars as an asset but do i want to buy anything? No. I rather watch my investments grow and thats much more fun and thrilling.

[@7SideWays]

Being quietly free is the way to be. Can say nah I won't do that or heck yah I can is what it's about.

[@alistairrobinson3865]

“As notorious BIG once said” That could have gone anywhere!!! 😂🙏😂

[@gordonpi8674]

Austin, you deserve a Nobel prize for educating the American and American way of life influenced people, who don’t have any sense of economical and rational financial responsibility. That’s all a result of the society where they live. We, who come from more reasonable, many times socialist societies, have learned how to sustainable live and be reasonable with what you own. These valuable lessons are probably incomprehensible for the vast majority of the USA citizens, but it’s worth educating them, and in the same time taking advantage of monetization it…😊, - all the best!

[@ElAgustin]

Thanks!!

[@finned958]

Material objects don’t do anything but gather dust by sitting on a shelf. Millionaires still have huge monthly expenses that are much more than poorer people, but they conserve their cash whenever possible. Their money buys them a lifestyle that suits them. A million dollars doesn’t really buy them that much security over 30 years in retirement. You might have a terminal disease or an unfortunate incident happened.

[@noname75013]

According the that latest fed report, the average American family has 1.2 million dollars in net worth. I interpret this to mean that being a millionaire does not mean you have lifestyle options and security . In other words the middle class millionaire is simple a little farther from financial ruin. It's actually an uncomfortable position because you don't have enough to be free and you need to protect what you have so you can't take the risks that might positively reshape you life.

[@JanBlok]

Average is such a misnomer, what's the median?

[@cliftonodom3059]

There's a difference between a pile of cash and income. If you have a million dollars of cash and start spending it soon there will b none left. Your lifestyle comes from income not a pile of cash. Put your cash into assets that pay you enough to live in a mansion and a yatch

[@monishthomasp]

Awesome video.. awesome inspiration.. ❤

[@siddhantjain1563]

If people understand this and pay attention, they might not need any other financial advice other than what you have said. Real wealth is control over your time, and the ability to make choices. When you don't have money or security you are just subordinate to the actions of others.

[@emzywillrich7243]

You can experience luxury car ownership by taking Uber. None so far was as comfortable as my F150 Ford.

[@saloninegi147]

I enjoy by not having to work at some awful job, and by going to the beach, swimming in the Caribbean, which is healthy and free. Options, health, freedom.

[@jeffmartin3406]

I have not had a car loan for 40 years. Paying for a loan on a vehicle that is depreciating is wealth killer.

[@amyhudson1016]

My money buys me a good nights sleep and the ability to pick and choose what contract roles I take. Freedom to choose. I don’t need it show off expensive purchases that do nothing for my freedom

[@Rob9mm]

I got dozens of friends and the fun never ends, as long as I'm buying - old 80's song

[@ThrowBackZone]

Can someone explain why people still think millionaires should be flaunting their wealth? 🤨 The idea of living modestly for long-term security seems way smarter!

[@mocheen4837]

My grandfather probably has over $20 million but lives frugally. Wears sweats and drives a 1980 Chevy to church. You would think that he is poor by looking at his outward appearance.

[@flyingsaucer1268]

senjor Austin, your wisdom is outstanding

[@Hazard4Tactical]

It’s because they are not all that rich. If they had $50mil and lived in a $3mil house it wouldn’t matter how many sports cars or vacations they bought.

[@cashflow68]

My passive income is funding my retirement. Ill be collecting my max SS next year. No debt.

[@xlerb2286]

Middle class millionaires do spend money, just not in ways that are visible. And they also realize that money is needed to fund an enjoyable retirement. So they're just keeping it invested (think of that as spending money to make more money) until its needed for that purpose.

[@sulpher9]

I'd like to upgrade my 20 yr old pickup, but I look at how much cash flow I need to give up to get it - Investing has been winning out over spending.

[@smileyspoon1]

You don't spend assets. Assets generate you can and you spend that cash.

[@mocheen4837]

$1 million dollars is not that much. When you have $5 million it is more comfortable.

[@deadcell1]

You can earn around $70k/year in a dividend stock that pays 7% a year.

[@Avo7bProject]

@@deadcell1 During the dip in the market this past summer, there were dividend ETFs getting into the 9.x% range. I was diving into that as hard as I could. Even if it was 5 shares at a time as open funds freed up.

[@767bob]

Having a nice nest egg will give us peace of mind which is priceless, don't show off and make sure your money will continue to make money which also leads to having freedom galore.......period!

[@bobk3840]

Let me ask you a question. How can people look at a middle class millionaire and ask why they aren’t spending their money if the millionaire doesn’t run around telling everyone that they are a millionaire?

[@dunesmom7990]

Wealth is the money you don’t need to spend!

[@Midman1972]

Money “just sitting in the bank” assures that your future buying power will decline. Inadequate way to frame this discussion. This all matters for not when we have a government that seems determined to exist by the opposite principles discussed here. Taxing unrealized gains would end the middle - class millionaire.

[@steveg9744]

Well done Austin!✅👍🇺🇸