Millionaire Behaviors That Most People Wouldn't Believe

[@garyblade2332]

Habits: 1. They are surprisingly frugal 2. They save aggressively 3. They invest carefully 4. They behave discreetly 5. They are generous 6. They look for opportunity 7. They're prepared for the unfortunate 8. They keep learning 9. They are grateful

[@Diomedes01]

I am living proof of this philosophy. I am a millionaire (multi-millionaire actually) and I live a standard life. My house is nice but not extravagant. My main car is a nine year old Acura. Living below your means and investing smartly will get you to the millionaire goal line as long as you stay disciplined.

[@dean7730]

Credentials ?

[@Loreny_Storage]

Lol

[@sweetsweet3753]

haha same same. i dont even have a car. i only own a 125cc scooter (i live in Asia). my petrol bill for the week is typically

[@billygnosis6976]

@@Loreny_Storage curious as to you LOL comment? or how about.....#victim.mentality

[@thelousygitarist6830]

@@billygnosis6976 same here, driving a c3 from 2004. but halfway miljonairship

[@jpdriver1967]

The key is being content. No need to have everything the neighbors have. My life changed when I realized how many ways others are trying to get into your wallet through marketing. Being financially independent and debt free is like being paroled from a prison.

[@Imhere12345]

It took me 32 years to realize this

[@timchavis9420]

TRUE Stuff !Being in debt you become a servent for the money lenders .

[@cazpk6840]

Being debt free changes yr life...

[@richardt1792]

About 32 years ago, I attended a 10 minute lunchtime seminar put on by my company's 401K plan. They said we would need a million dollars to retire. To get there, we would need to save 10% in our 401K plan. About 1/2 the employees joined the plan. Given all the federal and state taxes I pay, I figured that saving 10% means I would actually only have around 5% less money to spend. I figured I could always save at least 5% on everything I purchase by shopping around. I didn't miss the money I put away and it has grown to over 2.8 million dollars. Dave Ramsey says that 80% of the millionaires are pretty ordinary people that did not inherit their money or run big companies or have unusually high paying jobs.

[@gordongekko2781]

It's true. Most millionaires are ordinary people who simply chose to save and invest their money. They did not inherit it.

[@matt.108]

The 4 people that disliked this have car payments on a 2004 BMW with the check engine light on and $34 in a savings account with 5 maxed out credit cards and blame rich people for saving and investing…

[@ChrisInvests]

😂 probably

[@scinusa]

0mg, Maybe you better start a GO FUND ME account for them!

[@steelisthemeal]

🤣🤣😮 BMW....endless money pit

[@matt.108]

@@steelisthemeal depending on what you get they can definitely be a headache.

[@larryo6874]

@@steelisthemeal I’ve got a 2018 Honda Accord LX - Looks great and runs well!

[@xPrevailingGaming]

I love they way Dave Ramsey studied millionaires (people who have obtained a net-worth of >/= $1mil). Nearly 90% of people who are millionaires have inherited $5,000 or less in their life; money, education value, property value. This just proves that people with strong dedication can achieve a $1mil asset value in their life time. Though in some parts of the country, that may not be enough, that is what a millionaire is.

[@gordongekko2781]

Half of the equation is living below your means. This is the biggest obstacle for most people. The American consumer is insatiable.

[@dougf9900]

Once you get into the mindset of thinking about how much money you could earn with the money you are about to spend, suddenly you escape the consumerist mindset. You won't be interested in shelling out $1000 on a new tv once you figure out how much more that $1000 could be come by investing it instead. And keeping cash on hand for emergencies and investing is critical. An emergency becomes an inconvenience if you already have the money set aside to cover it. And being able to invest when the market crashes is thrilling, not terrifying.

[@thebes118]

Indeed!

[@jdp0359]

Poor people always think about their income and wealthy people think of their net worth.

[@ZacharyBuhler]

What a great list Chris. I love this because I drive a 12 year old Honda Civic that has dents on every door and is at 190,000 miles and when people hear I’m a millionaire at 27 years old, their instant response is I’m lying because if I was a millionaire I would have a nicer house, a nicer car and nicer clothes. It really is about consistency and quantity of dollars going toward smart investments that changed everything people.

[@MattMathesonFamilyMoneySchool]

Great point Zachary!! I'm not a millionaire...yet, but I'm well on my way and a big part of that is what I drive, a beat up 13 year old Nissan Versa. It's been written off in a hail storm, so it's literally paid for itself. Great channel too by the way!!

[@ZacharyBuhler]

@@MattMathesonFamilyMoneySchool that’s awesome! Yeah, people get too hung up on cars and it’s often their financial downfall! I love that you have got an old Nissan with Hail damage 😂 that’s the greatest thing I’ve heard all day. You’re definitely on your way to becoming a millionaire in no time with that mentality. And thanks for checking out my channel 😁😁

[@fishingangler4315]

How much did you inherit? If you started working at 16 and saved every penny you ever made you'd have had to make over 90k a year.

[@ZacharyBuhler]

@@fishingangler4315 I didn’t inherit anything. My family has never had any money, we grew up really poor. I’ve averaged around $100,000 per year since I started working around 19 years old. Most of my wealth has come from appreciation in my primary home and my rental house that I purchased in 2014 and turned into a rental after I moved into the home I’m in now. I’ve also had about $60,000 in gains from my retirement accounts.

[@joseleal4876]

Hello Zachary, I’m 29.. was working on my business but it didn’t work out, however I did get a left over of roughly 300k…. I don’t have a house yet but instead of buying I want to rent something cheap and see where to invest…. Any tips??? I had never even put attention to the “investment” life and its soooo interesting. My whole life has been work and work and work.

[@DarkMatter2525]

I did cave and bought an exotic car, but it was used and I got a good deal. I drove it for 10 years with no problems and sold it for $5K more than I paid for it, so it was actually a much better investment than a normal car.

[@ChrisInvests]

Sounds like the right way to do that!

[@KennytheHedgehog619]

Wow what a trip seeing Dark matter here haha. Love your stuff

[@hl7843]

What exotic car?

[@SensSword]

Wow... Wasn't expecting to see DarkMatter here. Hope you've been well.

[@thegreat9481]

An exotic car would never sell for 5k sir lmfao

[@Jessica-dg7gj]

I’ve always been relatively frugal, but recently have also become more minimalistic… it’s important to have balance. Even I splurge on occasion to avoid frugality burnout. This a great video and I’m happy to add it to my library! 😌

[@ChrisInvests]

That's great! Thanks for watching, Jessica 😁

[@Je.rone_]

The millionaires most people think of is celebrity millionaires who are of course flashier

[@mr.c6674]

Excellent point. Many entertainers were not wealthy before they made it big, so they flash and spend like those that act (fake no money people) as if they're well off. Its the money rich-broke-mindset showing off to the actually still broke people.

[@ChrisInvests]

Yes and those people usually have a minimum of $10m

[@danicegewiss862]

Think Nicolas Cage. He blew through millions...broke now.

[@andrepierce9138]

Thanks!

[@jessestraube6157]

This is a great video on the habits of millionaires!

[@luckyjordan8139]

Never giving a damn what others thought of my clothes, car or house was a big help to building my wealth. Now I live in the tropics on a waterfront lot and still don’t care what others think of me. I DO care about others, just not what they think of me. What God thinks, I do find important.

[@dougf9900]

I've never made 6 figures in my life (maybe this year!), but now have a net worth over $500k. I credit saving money and investing when I was just out of college in my 20s. I lived cheaply as well. At this point in my life, I see all the bad money decisions I still made over the years, and think of how much closer to $1m net worth I could be at this point.

[@FrugalTeacherFI]

Net worth a year or two behind you. Similar. Have a masters degree and 80 additional credits. Started at 27k. Never made 6 figures. Won’t ever ask a teacher.

[@ProfessionalRageBaiter]

how old are you guys? i’m 23 i make 95k gross and 75k net as a truck driver. every week i make around 1500 and move $1000 into savings or investments. i have a big amount so far and i have around $800 in checkings. i feel poor yet i have a decent nest egg in savings and investments. my 401k is looking nice as well

[@dougf9900]

@@ProfessionalRageBaiter I'm in my early 50s. You have a great start! Investing as much as possible in your 20s gives you decades of compounding to growth your wealth. Keep it up!

[@-Orev38]

God bless you for these videos Chris. Keep em coming :)!

[@ChrisInvests]

Thank you for watching 😁

[@waylonwages8399]

I know a millionaire who drives a 2003 Lexus and lives in a 100k dollar home? He’s also a great person and just a down to earth person.

[@steelisthemeal]

Scotty Kilmer

[@charlesedwards4160]

Rev up your engines, Rev down your mortgages :)

[@Euorgos]

Being a minimalist, or at least thinking like one, is also important. Having stuff never excites me. I'd much rather live a simpler life with a healthy stock portfolio and a bunch of investment properties. I can certainly afford all the fancy crap. I just don't want to.

[@ChrisInvests]

Finding that personal balance is so important

[@Teamshmo]

That's the problem with being a millionaire. Once you get there you realize it's not even close to enough.

[@steelisthemeal]

Poverty

[@shun2240]

Can confirm, I am a millionaire at a young age, but I am still kinda worried it won't be enough, but I guess I am just too paranoid

[@GeneralChangFromDanang]

@@shun2240 You're right to be. With inflation at probably 15%, one million is going to be nothing pretty soon.

[@shun2240]

@@GeneralChangFromDanang well that's why we have to invest

[@PierceJPeterson]

It can for sure be very valuable to learn from those who have already achieved millionaire status. Great video Chris!

[@ChrisInvests]

Thank you Pierce!

[@djsterf]

A lot of really good advice here, though some of the prior tips in the video can apply to latter items mentioned (e.g. buying quality things once as a longer-term investment like a Hybrid/Plug-in at a bargained-down price vs. always going for used [especially with the inflation this year on used cars]).

[@danshealthylifestyle8443]

This is a good example letting you know that most of these people you see on social media aren’t what they claim to be. Fake rich

[@id10t98]

I walk to the grocery store, sometimes ride my bike, I drive a 22 year old car that I work on myself (just changed the water pump by myself for $140). I was able to retire at 49 to take care of my parents for ~ 5 years before they passed away. I look at it this way- Every $1,000 i spend this year will cost me $20,000 ten years down the road.

[@weswest8666]

It’s very easy to spot a broke person, they’re driving a car that is less than two years old. Flashy new 7 series BMW or Range Rover to me means they’re tearing up a $50 bill at every stop sign or stop light (in depreciation).

[@alk672]

Yup, the first thing I did upon arriving to the US was buying a new car. I didn't know any better so I did what everyone else was doing. I even had the money to pay for it in cash (almost), and still I took out a loan because that's what everyone else was doing. Most people are the same as I was - they just don't know any better. Well, at least now I'm going to drive that car into the ground to punish myself for the stupidity.

[@danmcnamee1017]

Always Informative and outstanding presentation!

[@ChrisInvests]

Thank you, Dan!

[@SergiuM42]

Great video!

[@ChrisInvests]

Thanks for watching 😁

[@allisonm7216]

I really enjoyed this video! Thanks!

[@ObsessedCollector]

Those that brag about everything, have nothing. It truely IS the quiet ones you gotta "worry about". Great video, I learned alot today!

[@ChrisInvests]

Absolutely, thanks for watching!

[@trailsloth6956]

Being free to live life. Its all I need to be motivated to invest as much as I can

[@gabesmith9171]

Stealth wealth 💥💥

[@maherm5739]

im 20 with a net worth of 65,000. all of my money is invested right now. Been saving aggressively. Feels like I got this trait from my mom. Hopefully one day Ill hit that million dollar mark so It will be easier making the next million

[@DarkMatter2525]

You're doing the right thing. I'm 45 and I'd have 100x what I have right now if I had started investing at your age.

[@maherm5739]

@@DarkMatter2525 Indeed. Thanks for sharing

[@cpme1711]

Ive reached millionaire status at 23 but i dont feel any different. Im still feel that i live a frugal life and spend cautiously. Buying material things dont make me happy but i love the thought that i can buy luxury goods any time i want to. I live in the same house for 32 years and drive a used 2015 mazda 6. Ill only buy a new car if my mazda could not reach my destination anymore. My clothes are only handful. My favorite outfit i wear weekly is a plain white shirt, shorts and department store sandals all from uniqlo. I invest in sports sneakers but just have one for running and another for bball which are jordans and ultraboosts. Ill only buy new ones when needed

[@tomj528]

Very insightful...I would add that most millionaires continue to lead frugal lifestyles because they've discovered that it's the best way to live and wouldn't change a thing. As you get older, despite having more options, you begin to value living an easier more trouble-free life. This is why they prefer Toyotas over Jaguars and a reasonable sized home over a mansion as these choices equal more freedom. Besides, flashy shows of wealth are tacky and poor financial choices solely to "impress" others, providing nothing of real value to you personally. Given these truths, it's actually rather easy to attain millionaire or even multi-millionaire status as you're not determined to desperately spend every dime you ever lay your hands on.

[@ChrisInvests]

True, rich people aren't always flashy. Sometimes it's more satisfying knowing you have more money than people would think.

[@Meow-ky5bn]

So true! As a child, I knew a lot of millionaires who bought up used Toyotas in cash. There were some other car types but I remember Toyotas being a favorite. I didn't know any millionaires that were generous with their money, though. Not unless the generosity resulted in a tax write off for themselves or their businesses. They rarely gave out money freely and would always say that giving away money freely just makes you poor or middle class. There has to be some kind of mutual exchange. Always thought that was interesting.

[@tomj528]

@@Meow-ky5bn Most millionaires give generously and while they get a tax break they'd still end up way ahead just by paying the taxes and keeping the money. It's just a bigger bang for their buck to donate it all to charities they care about. Some don't get a tax break at all yet still donate to help feed the poor, help them get into their own homes, provide scholarships to learn a trade and even assist the elderly with end of life care. It's a lot more than most are doing with or without the tax break.

[@Meow-ky5bn]

@@tomj528 ah-I didn't know those types. Maybe there's a difference between those who inherited and those who are self-made. The ones I grew up around had inherited. So lots and lots of trust funds. They weren't the warm and fuzzy types. More pragmatic.

[@tomj528]

@@Meow-ky5bn The majority of millionaires are self made but either way, most give quietly in the background so you'd never know anyway.

[@mattanderson6672]

Thank you Chris, I'm learning more every day

[@ChrisInvests]

That's great! 👍

[@DextahPC]

1:57. "Most millionaires save over half their income." Where did you get this statistic? I've never heard that before.

[@samcartwright6338]

It’s true, don’t really have a statistic but majority of wealthy people( meaning wealthy in assets not income) save around or more than 50%. Cause if you can live off 30k and make 100k but want to retire as fast as possible then you’d save and invest that extra 70k into something that’s turning that money into more money.

[@alk672]

Ramsey's millionaire study.

[@ronbonora7872]

I agree. That is not correct. 20 to 25 percent is more like it!

[@kezonmcneill]

Great info here. I have been on track for the past seven years simply by repurposing my money away from banks and into my cash value insurance policies. I have six currently and use it to get the returns and invest it in other money making ventures. Stay focused and it will happen.

[@ahmadfawwaz3443]

Great content!

[@ChrisInvests]

Thanks for watching 😁

[@danicegewiss862]

Regarding the last comment on the video, the options for making money are plentiful. I'm working on two of them today. One is writing an ebook and the other is an online store.

[@jeffsnow7749]

Thank you for another good video!

[@ChrisInvests]

Thanks for watching, Jeff!

[@l.ls.8890]

I’m also living the love of Riley as it were. One of those millionaire next door types. I see my neighbors and friends with X-luxury cars and appurtenances. I wonder how are they really doing and debt held.

[@shannonzittlow8462]

Automobile debt is one of the biggest set backs for wealth building

[@cooperparts]

And going out to eat

[@shannonzittlow8462]

@@cooperparts Very true I like Texas Roadhouse with steaks and drinks for 2 about a100 bucks each time

[@djeechizzy9818]

When it comes to the world of investing,most people don't know where to start. Fortunately, great investors of the past and present can provide us with guidance

[@danielmedina4953]

@Victoria Brady Rushing into forex/crypto trading without adequate orientation or trade with a professional with a good broker for accurate signals, you might lose all your hard-earned money.

[@djeechizzy9818]

As a Bitcoin investor and trader, its almost inevitable that you're going to experience ups and downs along the way but that shouldn't scare you off from investing

[@djeechizzy9818]

I saw some recommendation about experts Mrs Trust........ She's Brilliant

[@djeechizzy9818]

I'm looking up for a 2000$ investment. any idea on what my profit would be?

[@roycorey7454]

Am shocked someone mentioned Expert Trust. I thought of Investing in Bitcoin in 2019 but was discouraged by my friends wish I didn't listen to them

[@dorinatudisco1308]

Really enjoyed this video!

[@ChrisInvests]

Thank you, Dorina 😁

[@TwinJalanugraha]

Always enjoy your video

[@ChrisInvests]

Thank you 😁

[@elmateo77]

Most millionaires don't save over half of their income. In fact almost no one does that, and it's definitely not necessary to become wealthy. 20-25% is a very healthy savings rate.

[@rhyse4818]

Practicing gratitude is what started my path to happiness. Ive always been that kid that has way nicer toys and vehicles than you, but is broke and always so close to bankruptcy. I constantly went through different vehicles thinking theyd make me happy and that the wasted money was worth it. I just shake my head at people who are the same way I was. No matter how nice of things you own, it wont make you happier. Itll just make you more miserable.

[@ChrisInvests]

Interesting...yes, having the right mindset is critical

[@rhyse4818]

@@ChrisInvests Absolutely. Everyone loves to lecture you how to be good with money, but they'll never help you figure out WHY youre so bad with it. Thanks for the videos Chris.

[@lilberry3224]

Thank you for the information 🙂🙏🏾

[@ChrisInvests]

Thanks for watching!

[@hedgiegal3340]

Getting close to a million and I live in a trailer that's paid for and drive an old Toyota. We have always lived way beneath our means. So yes, by the time I retire I will be a trailer park millionaire.

[@ChrisInvests]

Wow, great! I bet your neighbors would be shocked!

[@AimForGoal]

good stuff. no one can that had heard this can say 'I had no idea'. I wish you had included faith.

[@cazpk6840]

Thank you 🙏

[@ChrisInvests]

Thanks for watching 😁

[@YanilleCastillo]

Great content and so true I follow David Ramsey and he teaches these principles too

[@ChrisInvests]

Excellent! Thanks for watching

[@jhutt8002]

Richest person I've known was multimillionaire, owning an global industry leader machinery company. He owned a horse stable as a hobby near where we lived and came to us wanting to buy couple thousand hay bales for his horses. Standard price was something like 2 $ a bale, which he wanted for 1,5 or something. After a while of bargaining with my father they agreed at 1,8 $ which he was happy with, having saved 200 $ on hay for his horses.

[@ChrisInvests]

Sounds like he was looking for a bargain!

[@julianezhen4460]

Thanks Chris

[@ChrisInvests]

Thanks for watching 😁

[@ThanhTLam1]

thanks for the video chris

[@ChrisInvests]

Thanks for watching 🙏

[@rabidfollower]

Rich people may have good discipline in their lifestyles, but the same isn't necessarily true with their offsprings, who grew up rich and may not necessarily learn the same lessons their parents did. They still have to learn the valuable, often painful lessons of how to build wealth the right way, the disciplined way -- just like non-rich people have to do.

[@AdamIverson]

It's important to note that being frugal is what allows them to pay lower taxes assuming that most of their assets are not liquid such as stock. It's not just habit, there's a legit reason for this.

[@gladegoodrich2297]

Woke up at 42 broke after 20 years as a contractor. All I had to show for it was a bad back and worn out dump truck. It seems that I cared more about my employees well being than my own. They always got paid first and after paying for all the wonderful government programs, never seem to have any left over. I changed careers and started a new business that I could run without employees. Now 75 years old with zero money problems. If what your doing is not working, dont be afraid of change!

[@ChrisInvests]

A lot of money to be made as a contractor but unfortunately it's easy to overlook the financial planning aspect

[@GeneralChangFromDanang]

I drove past a guy riding a moped on the way to the machine shop I worked at. Later in the day, that same guy showed up at the shop and was apparently a friend of the owner. My coworker informed me that he was some kind of multimillionaire. You wouldn't think it to look at him.

[@ChrisInvests]

😂 I know a multi millionaire that rides a scooter too!

[@taylenbynum1668]

Currently 21 and I invested in a Ev for better gas saving and own my home I plan on paying off my car payment 2 years sooner and then after investing most of my income in etf I really want my first 500 dividend paycheck thats my goal so far

[@carguybd]

This isn’t just accurate, it’s ‘Let me stand on the 50 yd. line blindfolded and toss a dart backwards hitting the center of the bullseye accurate.’ I was born poor into every negative circumstance imaginable and today at 50 am long since retired. Two things jumped out- 1) generosity is our true joy, 2) gratitude is our overwhelming emotion. One thing inaccurate though is that I have about 20 vehicles, mostly high end ones. That, however, is because it’s my avocation and what I did for 30 years. Buy low and sell high. If you know what you are doing in the car business it can rival the best investment in equities. America is the land of opportunity, don’t let anyone convince you otherwise.

[@ChrisInvests]

Great, thanks for watching!

[@BorisBidjanSaberi11]

Instagram millionaires are not the majority!! Remember this… do not model their behavior

[@ChrisInvests]

Definitely!

[@rlukinn]

450 millionaires liked this video.😀

[@ChrisInvests]

😀👍

[@thebes118]

Some do spend a lot, Michal Jackson, Martin Zweig who lived in a super expensive penthouse in N.Y., Elvis. It depends on the person.

[@larryo6874]

I believe Michael Jackson was broke when he died because of his extravagant lifestyle….

[@beyondfossil]

Also, every year it becomes *easier* to be a millionaire! Especially with today's inflation. Even back in 2000, you only needed $620k to be a 2021 millionaire. By 2041, you may only need $500k 2021 dollars to be a 2041 millionaire -- assuming this country hasn't ripped itself apart by the seams.

[@ChrisInvests]

Very true

[@RepuBlicOfChaD]

I don't have a fancy home or vehicle however everything is paid off 👍 my only vice is buying guns but, they will always have value and will never drop to zero. Plus having a pension, Roth IRA, 457b, and Precious metals stacked has put me in a very comfortable position in life and I'm not even 40. My biggest wealth advantage was....never getting married and never having kids!

[@alk672]

When you have enough investments to not worry about paying the bills or losing your job, you get certain clarity all of a sudden. You start figuring out what you actually need and don't need in life, and I think most people find there are only 1 or 2 things that they actually care about. And then unless it's a large business jet - it turns out you can afford pretty much anything with relatively low income if that's the only thing you spend money on. Go figure.

[@jhutt8002]

You clearly don't have interest in music or cars... No matter how much you earn, those are endless money pits! And I love both enough to waste my money...

[@howellwong11]

That is me. I always keep a low profile.

[@andrewmorales5485]

Like invest in stocks dividends companies bond's hedge funds rets ETFs

[@ViburaBlanca]

26, and a millionaire from a lawsuit, if your money is tied in investments like azmn, utg, lmt, and 10% in crypto, you don’t have to worry about losing money. Follow trends, live a simple life.

[@LinsMusicMinistries]

If I understand well... millionaires are the models of perfect people in the world

[@ChrisInvests]

Really? 🤷‍♂️

[@JacqueStJean]

A million bucks ain't what it use to be! And with this rise in inflation eating away the dollar it is going mean less and less each year.

[@matthewsherwin8741]

Very true

[@CDKE23]

Question. How many people are putting away 30-50% of their income? Is it realistic? Feels like this is what needs to be done to become wealthy these days.

[@adaytoremember225]

The problem arises when you're spending more than you have coming in. What's the point of making $500k a year if you spend $495k of it? I'm worth a little less than a million, and I learned the hard way that nothing (possession wise) will ever "scratch that itch." It's nice to kick back and have the option of buying whatever you want, without having the urge to actually do it.

[@ChrisInvests]

Couldn't agree more!!

[@andrew8579]

8:02 sounded a little personal bro you good?

[@rabidfollower]

The biggest key is save a good percentage of your income (and invest it) and have the discipline to keep at it for decades. One reason for China's boom in the last 20 years is that people managed to save 40% of their income. But that didn't happen with "discipline" alone nor watching KZbin videos on smart finance. It took a village for that to happen. Sadly, we are not likely to learn from China because Americans hate the C word and the S word and only love the other C word. I think we should start learning from our adversarial nations the same way the poor need to learn from the rich as your video suggests.

[@lockstepefeller6411]

Tell that to EVERGREENE…

[@rabidfollower]

@@lockstepefeller6411 Some people predicted China's collapse in 2011 too; didn't happen did it. Having to wish your adversarial nation to fail is like poor people wishing rich people to become poor -- it's a sad state of affair to even have that kind of thinking.

[@huhhuhhuh4069]

I have all of these traits and I’m a poor ass 🤷🏻‍♂️

[@kevinsheeler6]

I am almost a millionaire! WOO-HOO Went to a restaurant today, lunch was $7.50 I refused to buy a coke at $2.00 snuck in my bottle of water!

[@ChrisInvests]

😂

[@prometheus5311]

I'm going to disagree with the index fund investment, if you invest in the s&p 500 you are also investing in alot of overpriced companies who have negative cashflow. Instead get a portfolio consisting of 10/12 bleuchip stocks who actually make money and perhaps pay a dividend. You might miss the next Amazon but remember, for each Amazon there's probably 1000 start-ups who went bancrupt.

[@missminty1996]

I slightly disagree with that! But I see what you’re saying with failing companies. The Fortune 500 cycles out failing companies and replaced them with new, disruptive companies. The negative companies will be replaced and outweighed by the successful ones.

[@StormGod29]

VOO has an average annual return of 14.80% across the last decade. S&P 500 ETFs remain one of the very best performing investments over the long term. As Miss Minty said, poorly performing companies and dropped and replaced with better performing companies.

[@SergiuM42]

I agree with the other replies, the s&p500 includes some of the strongest companies in the US.

[@IamAWESOME3980]

If you don't enjoyed your money, you are no better off than someone who works for free. People need to learn to spend and enjoy themselves sometimes too. If you are billionaire, you are not likely to spend anywhere close to 0.001% of it if you live like warren Buffett

[@happylife7542]

We are millionaires too. Relatively young I guess. 38/41when reached the first million( 2 years ago) And yes we still are living in the first house we bought since 2007, however we are planning to move in 5 years… of course we have 2 Hondas, did buy brand new but with cash….

[@ChrisInvests]

Awesome, thank you for sharing 👍

[@alk672]

Yeah what most people don't realize is that you don't get to a million dollars by spending every last dollar you have on flashy sh*t!

[@notme5371]

It really does help to make at least close to 100k a year.

[@ChrisInvests]

Of course

[@MTXSHO9732vV8SHO]

I'm beginning to accumulate enough and succeed enough that it's making others uncomfortable. Oh well, nice knowing You (or knowing that so long as we're both broke then We can be cool) #FOH

[@penitent2401]

When buying things it's not just buy quality that last long time but the balance how long it last for the cost. One pair of shoes for $5000 that last 20 years is not worth it compared to a $50 pair that is almost as comfortable but last 2 years and invest remaining $4950. At same time a $5 pair that wrecks your feet is poor choice no matter how long it lasts.

[@ChrisInvests]

Absolutely, it's all about value

[@pensacola321]

Well there are millionaires and then there are millionaires... Many of us have the status, but there are huge differences in financial wealth. Most here have what I would call "working-class" millionaire status. Very good, but to me, being wealthy starts somewhere around five million dollars..... but certainly beats not having a million dollars.

[@ChrisInvests]

I agree

[@billc.9389]

Wojack needs to watch this.

[@SFBear]

i personally know 3 millionaires. all three live in million dollar houses and drive luxury cars although they keep their cars for at least 5 years. one of them is very generous but the other two..eh

[@ChrisInvests]

Really? I wonder if they're multimillionaires and how many people you know (maybe you don't know it) that are worth $1-2m.

[@sweetsweet3753]

@@ChrisInvests be also interesting to know if inherited or earnt there wealth..

[@luckylokk3478]

Yes we know, they are greedy and rich. But the most important question is: are they happy with their life????

[@DereckBreuning]

This is basically a rehash of what Ramsey tells

[@christmas10023]

And you know this how? 🤔

[@chinaloe14]

The first one is not actually true. Who do you think that bought the Rolex, fancy car, designer brand. Rich people bought those because that'd be like us going to a normal store.

[@ChrisInvests]

I get what you're saying but a truly rich person buying a Rolex is probably not even noticeable to them

[@Turkish_Cyborg]

It seems, own of luxury cars are poor :D

[@miketheyunggod2534]

I rather be happy than be rich.

[@eltocayo87]

I rather be happy and rich .

[@JTStream]

Money helps to some extent. Money problems and debt are some of the most common sources of stress, anxiety, marital problems etc. Having a positive net worth, paid for house so no bills, and enough in the rainy day account that surprises won't derail whole life, are very helpful for a stress free happy life. As the video explains, they don't need luxury, just stresslessness.

[@jar145022]

Plus it’s passed down so there children already have a just start on the rest of the world.

[@cooperparts]

The deal always looking for a deal no matter what I buy homes cars planes it must be a deal

[@BillyT531]

They are also notoriously poor tippers.

[@SV-kr9fu]

No, not necessary.

[@ironmenace]

Throwing money out Being materialistic Buying marriages

[@ChrisInvests]

😂

[@teutonalex]

And buying experience divorces

[@andrewmorales5485]

Personally I once read that most people get rich from starting cheap businesses like most went into small candy vending machine business then after 10 years they upgraded to soda's and snacks vending machines then invest in rental properties business and any thing else

[@ChrisInvests]

Interesting

[@rashidbelike1082]

LMAO HAVE RICH PARENTS! There I just saved you from wasting your time!

[@pussnuts]

I was born into a poor family that was broken when I was 8 years old. My single mother earning 40k/year raised my brother and I. We never had new clothes. No cable TV (this was the 80s/90s) or any other luxury. We got fed but it wasn't until I started working part time as a grocery bagger at 15 that I could afford to eat enough. Didn't have many friends in high school and girls ran like hell from the poor kid. I studied hard and got into college -- not a great one but average. I had to take out loans of course and work while I went to school. I worked hard but still had student loan and credit card debt when I graduated college on the order of 40-50k. Today in my mid 40s. I have a net worth close to $3m. Just about everything in the video above is spot on. Even the part where he talked about people that make comments like the one you just did.