Why Americans Don’t Want to Be Millionaires

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Would you rather sacrifice your lifestyle to become a millionaire ASAP or enjoy a comfortable life now? In this episode, learn why setting yourself up for success financially can lead to both.
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[@jasonrodgers9063]

I retired a year ago, now age 66. I have zero debt, paid-off house. $100K in cash & liquid investments. My wants / needs are quite modest. I am greatly blessed.

[@Mississippian]

Our net worth is not who we are. But there is something to say about a person who has shown discipline, focus and the drive to get to where they want to be. To do things that are not easy and to put yourself through challenges that others are avoiding out of comfort and convenience is infact a demonstration of character. The dollar amount does not matter. But the journey is very telling.

[@isabelbecerra9258]

Build the life that you want!

[@NWforager]

compound interest : Get some ,Kids ! DO it Early

[@lindawilson4625]

Great advice. A life not lived is squandered and you won't be happy. You can build wealth and be happy at the same time!

[@GAFB1122]

You know what though, you don't need wealth to be happy.

[@rachelcrossen8136]

There has to be a middle ground

[@garvincrosby4349]

The number is 10 million.

[@bulldogfightingforfreedom]

Then you want $12 M, after that you want $20 M , then one day, you visit California Bay Area looking at Los Altos hill, pebble beach you are staring at those $30M house and you will want one of them. It’s an endless circle, loop

[@nickyarka6929]

​@bulldogfightingforfreedom Not for me and my number is $20 million to retire. Based on my current income I extrapolated my income at 67 to be $800,000 (about $150,000 in 2024 dollars) and I need 25x that to retire. If I hit $20 million (or if I'm overshooting my yearly targets), I stop caring. I stop saving. I wear Gucci loafers and visit Florence every year. I wouldn't stop working but my life would get a lot easier.

[@pnwflipper2089]

Rachel, we are on baby step 5 and I am overwhelmed by all the different 529s for every state. Which one do you use? Would it be best for someone from, say, Washington state? How do we even go about opening one for our kids?

[@Arlenewalter]

I just turned 41 and awfully late to investing with barely any portfolio except my 401k, I have a decent amount of cash saved up and with inflation currently soaring AGAIN, I’m getting worried about retirement, my intention is to retire at 65 atleast, so how best do I maximize my savings of over $500k

[@r_b5951]

My best recollection is I was sitting at around $400 at 40. Life is not linear of course. But that simple comparison suggests you are doing just fine. (I am mid-60's now, and am one of those people that "Americans don't want to be" apparently.) Can't offer specific suggestions, but just know you have several things working in your favor: 1.) time...time to recover from a downturn (or 2), or build on gains. 2.) My experience: investment portfolio began to grow in chunks beginning around $500. Best wishes.

[@sharjeeljawaid]

Net worth vs Self worth

[@SilentSputnik]

$2.5M is the goal.

[@EricMoore790]

Rachel is beautiful.

[@crystaldon4995]

Very, and natural beauty - inside and out.

[@Preflightterror4]

? She's got those ant size eyes

[@mhodge0890]

Great video Rachel

[@hejiranyc]

"I don't want to be a millionaire." - said no American, ever!

[@jollama]

I enjoy watching people say this while complaining and struggling to live

[@HazardonerFTR]

first

[@BCRichDraco1990]

I want to watch this video but the wrinkled/crooked shirt is sooooo distracting.

[@hejiranyc]

OMG, I was just about the comment about that. The asymmetry with the stretched collar and the sleeves being off center were triggering to me.