Why I Don't Have $1Million Investment Portfolio

[@charleskelly505]

You're honesty as a financial advisor is incredible.

[@Skott62]

My wife and I have been debt free since 2013 and I can attest that once you reach that point so much stress is lifted off your shoulders and your mind. For those who pay a mortgage every month and a car or cars payment. Just imagine that you do not have to pay those bills ever again. That monthly amount is now cash in your pocket to do with whatever you want. Its just a sweet sweet feeling. Get that house and car paid off as soon as you can. You will never regret it. That's my advice.

[@johnnyadams1755]

I have and I totally agree 👍

[@jeepsandrvs]

Thanks for sharing your story. We are a similar age, and I also come from very humble beginnings (food stamps, living in projects, slum housing without indoor plumbing). However I was determined to do better, went to college, and worked hard in a technical career. Luckily, my first company sent us to a financial planning class. The instructors ran our numbers and said that if we invested and planned properly, my wife and I could be multi-millionaires. I retired 4 years ago at 48. I also so agree with you about money managers. So many are investing in what is best for them, not what is best for their clients. I continue to educate myself and manage our portfolio myself. Thanks for being real.

[@williammarkey6020]

Thanks for being so open and honest about your own situation. It shows that you're human like the rest of us and that you can talk to us like a "normal" person, not some multi-millionaire star who doesn't remember the struggle. Fortunately, I started paying attention to retirement when I just got out of the Air Force and college in my mid-20's, so I think I will be alright - but I love listening to your wisdom and avoiding problems that you bring up on your channel. You are truly a wealth of knowledge (pun intended!).

[@DMC8282]

We can’t control the markets but we can control the fees. VTI all the way. I got mad. My financial advisor was putting me in American Funds 5 percent load and 0.5 backend. I read books. We have no kids. We paid our home off in 2012. I drive a 2012 cts. We are the millionaire next door. We paid off debt first then stated maxing out 401k and Roth. We are millionaire net worth 1.4 million. I help all my friends i move their retirements to 100% FXAIX. We live off of 2500 a month. My biggest expense is property tax 5k a year. Great advice focus on paying off debt.

[@dmoon9037]

Pro

[@dmoon9037]

@DMC8282, you spend less than 5k/yr in food? Really great plan and budget.

[@DMC8282]

@@dmoon9037 we use every dollar budget and track each transaction. It was a beat down at 1st but we told ourselves that if we can send text messages we can log our transactions

[@ericmayhand551]

Yes, yes,yes! Thanks for sharing, bro!

[@westonhoeper3372]

Love the honesty Josh. My “poor dad” didn’t know the first thing about investing but he understood liabilities and that which I learned from him has served me well.

[@kdcstock]

Your message today is spot on. I don’t have a million either but, I stopped working at 53 to spend time with family and to travel.

[@bwhite9993]

And we are all better off from your decision!.... THANK YOU!

[@BLR653]

PS This is by far you best video on explaining how people overlook paying off the house. Its huge in so many ways. Cash flow, expense reduction and gives you a solid financial foundation to build upon.

[@ChloeBensonBeautyBoxes]

I love that your examples are real life and not the same generic info I hear from other experts.

[@joevelasquez2757]

Thanks Josh for the transparency and realness. I learn a lot on your channel.

[@rtmy2girls]

Been watching for quite some time, but have never commented. I started a Roth IRA over 20 years ago, and went with Vanguard STAR due to only needing $1000.00 minimum to get in. I’ve never made over $50K per year. STAR has done well for me. Just wondering why you have never brought up the STAR fund, since you talk about Wellesley and Wellington quite often. All balanced funds. Love your videos! I quit drinking in 95. Was gonna kill me. I knew I liked you for some reason. After watching for awhile, heard your video on your story. Keep up the great work!

[@mrb508]

Hey Josh..Been watching since 2019...this video was TOP SHELF. Great explanation on Assets and Liabilities. Maybe a video on "How to create Net Worth Statement" THANK YOU for all you do for us.

[@frankish5314]

Agreed I paid off everything first, including the house even though I would have more $$ today if I had not. Problem was at the time my company was laying people off by the hundreds every week so I knew if the house was paid off I still had a roof over my head!

[@ericb2872]

Josh, one of your best videos ever! Great Job! Go Pats

[@sergiosantana4658]

A reverse mortgaged 40Ok home will support approximately 12k annually combined this with a 45k social security benefit for a net present value of 1.1 million. And when you take into account that this is all tax free money this will increase the net present value to over 1.4 million (22%tax) And when you include the imputed income of a paid for home this will raise the net present value to over 2mill There you go this is how the average retired couple can go into retirement whith a net present value of over 2 mill when you include income from your home and social security only.

[@52CA]

There are lots of people with million dollar portfolios that never made over 50k. Based on my experience of doing it all wrong and still getting there anyone who can max out their 401k and IRA can get there in 20yrs or less most assuredly.

[@alicemuller9386]

*Great words from you to viewers here* and therefore so glad I Stumbled here with an *Exigent Question* (demanding immediate attention) on the Best ways to make dividends off my *250k* with low taxes. *Any Idea...*

[@hermannweber2441]

My Ans to you is for you to get a Finance advisor of a Wealth Management Firm who will offer you best strategies on making great returns and allows you self manage your money. So far I’ve acquired *500k* with Her. Give this a try and get into success

[@hermannweber2441]

You should make a quick research on the INTERNET about the Financial Advisor where I believe you can approach Her from, Do your research using her full names below

[@alicemuller9386]

@@hermannweber2441 That’s amazing, *thanks* for sharing such information to me, I’m very grateful.

[@alicemuller9386]

I’ll surely *research* the Financial Advisor’s full name on *internet* now and will *approach* her for her financial Services.

[@hermannweber2441]

@@alicemuller9386 You can thank me later, I’m just offering good help to you in need of it

[@davidbrisbin8735]

Thank you for sharing your personal finances. You are very much correct that "debts/liability" dictate your financial wellbeing more so than "investments/assets". I have not made anywhere near the amounts of salary you have, but my Depression Era parents led by example of having a debt free (as much as possible) life style. I have tried to follow this (not always successfully either!) and made minimizing debts a priority while saving at least 10% + any company match for future in IRA and 401k. "Don't buy it unless you can pay for it" with exception to major things like a house, etc... I'm retiring at 61 1/2 next month and holding out for Social Security until FRA at 67. Gotta have a plan! Best Wishes and have learned much from your videos!

[@LarryManiccia]

Good stuff Josh. Well thought out and makes total sense. I really agree with finding a balance for living and enjoying your life today versus sacrificing it all for future consumption. None of us knows how long we'll live or what our health will be when we retire so I agree we should spend the time and money to enjoy some things today. Sounds easy, but one area I find challenging myself to find a good balance.

[@daveaz9962]

I've subscribed and I keep hitting the Likes button and try and make comments when I can. I enjoy your insights and want to see them continue. Enjoy that family, my two oldest are girls and my youngest are twin boys, they're now 21. You've got the right perspective, save, yes, but make time for your family today. Our 3200 square foot home is paid for but I think my wife and I have decided to stay put for awhile. We won't need such a big house but we love the home, the neighborhood, our church, and our backyard. Finances won't be an issue. Could move to cut expenses but at least for now we are enjoying where we are at. Lord's blessings on your endeavors.

[@marktraylor9635]

This is one of your best videos, Josh. Speaks to me in many ways.

[@prettygirlus9008]

Due to a couple of poor career decisions, a couple of layoffs, the Great Recession, and crushing job competition, my salary is the same today as it was in '00 when I graduated with my MBA (less than $100K). Nonetheless, due to a relatively low cost of living, regular saving, and a couple of serendipitous real estate purchases at the right time, I cracked $1 million net worth at age 50 and plan on $2 million when I retire in a couple of short years a age 60.

[@ebelen1]

Why justify the question? You do you and props for living your dream.

[@bradk7653]

Controlling your expenses is the 1st priority, always spending less than you make, then focus on eliminating debt. Once you are debt free your expenses are even lower and your accumulation really takes off, especially once you are mortgage free. Once you are out of debt never go back in debt again. We had paid off our primary house before the age of 50, paid off our vacation home shorty after the age of 50, and bought a 3rd vacation home we rent out using Vrbo/Airbnb with cash 5 years later.

[@TheSolver-PR]

Man... Thank you for the testimonial regarding the experience with the financial planning thing.

[@a012345]

Glad you took the leap of faith Josh. You will help more way people this way than you could ever imagine.

[@shipdog44]

Well put. I believe, for most of us, it's a matter of time. Work hard, good plan, budget and stick with it. At 54 my net worth went over one million at about the same time I paid off my house. I'm still working, saving and investing. Now I'm 59 and reached 2 million. Obviously, the growth is much faster when you reach the point of no debt, strong market and Real-estate appreciation. I just want younger people to know it can take a while to reach $1 Million, just stick with it.

[@melvano4014]

Right on target! We were fortunate to have no debt at 54 and own 2 homes outright. You can live soooo cheaply that you start thinking you won’t be able to spend it all once SS and investments come after pensions

[@davidrounds3245]

It's not what you make or have in total investments that matters. It is how you live, what you spend and how you manage your debt and money in general. I grew up in what would be considered a poor family. I didn't know we were poor, neither did my brothers or my friends know we were poor. My dad and mom watched every cent, we always had what we needed but as kids we were taught you have to work for your wants. Somebody saying you need a million when they know nothing about you or your lifestyle is just ridiculous. Your lifestyle and personal habits determine what you need.

[@ceec5741]

Thank you so much for your honesty and advice.

[@martywilliard]

Beautiful ! DEBT FREE is the best

[@milwaukeemikee4063]

A simple formula…. Live below your means….. amen brother!

[@Davewhipped]

I enjoyed the video. The nice thing about a million is the assumption of rate of return. If I make 60k per year, but my investments make 80k per, that puts me in a more comfortable situation. I can choose to enjoy life more and not stress about my job and other things (as much). Keep it up!

[@harism2001]

May I ask what have you invested in?

[@Davewhipped]

@@harism2001 I’m mostly in the s&p 500 (index funds). I did buy mutual funds when I was younger (Dave Ramsay phase), but the last 5+ years have been index funds.

[@mp330600]

Very interesting video. I agree income is the most important part of retirement. My wife had a retirement program that had several items that could increase her income in retirement. We discussed what she could do to increase her retirement income. She did all of them and her income in retirement is now much higher than a regular employee. This and my social security allow us to have a worry free retirement. We are both 75 and have never had to draw down any of our 401K accounts. I always focused on income rather than just assets. Keep up your good videos.

[@cabragooncabulous4082]

Thankyou ‘ Thank you’ Thankyou’ this one was awesome. Your videos made me learn so much. That I was in a mlm firm. Because of you. I asked about a tax issue with a potential client. They responded “Were not financial advisors. We’re investment advisors.” Through you. I also became disenchanted. Ill stick with my crumby old job and realtor side hustle. If I watch you? I’ll be alright. If I hit the lottery? Im investing in Heritage Wealth planning!

[@arth.3899]

I don't have a million. I also have no debt. Had to get into ACA for healthcare. It's not the best either, but sure beats working at a coj I had for the last 5 years making 40k a year. 5 years I'll never get back. I'm going to see how things go. I like that song by Bon Jovi, "It's my life".

[@mariel8467]

Lot of life lessons here..so valuable.

[@mikep4869]

That was the greatest story! Thanks Josh.

[@davidgouveia8789]

Love all your videos Josh, but this might be the best one yet. Great lesson for so many Americans who are sitting in an office every day wasting their talents making millions for someone else. More people should take the chance you did, god bless.

[@frugalex-maineah6761]

Josh, like you, I grew up on food stamps in Maine. Although I’ve been blessed and worked my tail off into a second comma net worth, I never have forgotten what growing up poor felt like. I’m Naples Fl now and feel like a fish out of water.

[@terryB4713]

Always appreciate your Honesty Thank you

[@lt5771]

One of your best videos.

[@kurtcaramanidis5705]

Great video and cool life story. You are very relatable.

[@martywilliard]

DEBT FREE! Amen.

[@markhamjeff9104]

Great chat Josh. Very insightful. Love it.

[@markwilliamson4834]

Common-sense, easy to digest info. Thanks.

[@rexcovington3467]

We all have a story. Best lessons learned include: 1) pay off debt and save at same time as you can. 2) put monthly savings for retirement in auto pilot even if it's only $25 per month. Note: American funds allows $25 min per month for mutual fund investments! 3) start savings as early as possible or NOW. No excuses. Lots of millionaires began from low paying jobs. Pay yourself first. Only you are looking out for yourself.

[@jerrymcghee6788]

Thank you for sharing your story - Very inspiring and encouraging. You are making a real difference, and I admire you for taking the chances you have to do what you knew was right. Please ...KEEP IT UP! :)

[@goingruby]

Thank you Josh for adding value. Great video of teaching about the core of one’s balance sheet. Liabilities will sink you and prevent you from growing. Build assets yes but eliminate liabilities is all the better.

[@davidhankins5708]

Million is just a number! I'm 60 with half a million in my 401k and get $24,000 a year AF pension. That's kind of like having half a million in the bank drawing 4 to 5 percent off it. Appreciate your videos,thanks Josh!

[@pmill5781]

Josh, you’re the best and love how you keep it real.

[@dougb8207]

Thank you Josh. As far as I'm concerned, you have always been open and forthright with us. You're a good man.

[@chris-pj7rk]

Best part about this sell-off i have been mostly right, the worst part about it is that i don’t t short anymore so I’m not making much money, but at least i get to buy twice the btc with same USD amount

[@Jme---]

I cant believe people are selling dips. I don’t understand why lol. i am strongly holding and buying dips that i can DCA properly on.

[@Patriciacraig599]

@@Jme--- The best time to buy according by NICOLE ANN SABIN advice, she is a FA and what is playing out in my bag, she is buying BTC and ALTs with DCA strategy. i just can’t imagine what my portfolio would look like in the next leg up, but 2x i am fine and out.

[@Patriciacraig599]

@@PhilipMurray251

[@bobbygunz9254]

@@Patriciacraig599 I know NICOLE ANN SABIN. She obviously brings a lot of experience in trading to the table but more importantly I think she is a tough person in an industry that demands clairvoyance.

[@randymillhouse791]

@@Patriciacraig599 THE NAME DROP SCAM WITH THE SERIAL KILLER TYPE OF NAME!

[@genxx2724]

Hi Josh. 6:48: Disillusioned. Is that the word you’re looking for?

[@wdeemarwdeemar8739]

I am over a million and the same age as Josh but we had no kids, so I just don’t think we would be in this position with them. Since we spend 65 k a year I got to keep working.

[@bobby_ewan]

You’re in real good shape. Another decade to go

[@randymillhouse791]

I like that bumper sticker that has two stick figures of a man and woman and bags of money.

[@wrc1k]

Josh, I think this is your best video yet!!!

[@michaelluna3743]

Thank you for your words

[@cutehumor]

You are doing good. Keeping cool at the pool. 😎

[@kryz9875]

Because you have a heart! 3% is just plain heartless. I've had the chance to speak with 70+ year olds who are comfortably retired and some of them do regret the fact that they didn't spend enough time with their kids while they were in working age.

[@jdollar5852]

Why on earth do you need a million bucks by age 50? At age 50 most of us still have kids in college. I still had kids in middle school AND 2 in college. I may have had $250 in 401k. I paid off my house when I was 52. That's when I started socking away money. I never made more than $175k in a year. Life throws a lot of curve balls but I probably didn't hit a million until 2013 or 2014. 10 more years of growth in the market and you can see what happened to that million bucks. A million is a mental hurdle so I understand the thought process.

[@TLovevsLife]

I focus more in Income. I'm 56 but I have a military retirement, a disability retirement ( tax free) a civilian federal job pension GS-12 ATT. Social Security check plus 401K savings (about 250K) plus a have a passive income for a small business. I only have a home loan of 87k @2.25%.

[@victoriabarnett4279]

We are working on the ‘no debt’ side of things. Appreciate your views very much. Will see you on locals and rumble. Thanks

[@Jfhelwig]

I made 1/3 what you did and have close to million dollar net worth, at least I did a few months ago

[@mikescooby7625]

I'm in the same boat. Took a different river to get there. Got a mort with a decent equity. Busy launching two mostly grown kids. They will be solid citizens. Looking for a smooth transfer away from the workplace before they find me slumped over the computer. Thanks for your videos and i thank God everyday for what I have.

[@mecheckraise]

We will have our best earnings year this year about $200k in remote wages and $150k in rental income. The rental portfolio and stock market portfolio will take us into retirement looking really good. We live cheaply with two modest houses.

[@jdollar5852]

One thing people don't realize is that a million bucks inside a 401k is not a million bucks in assets. Uncle Sam owns a portion of that money. My wife put virtually 100% of her savings into her 401k so we will have to start dealing with that pretty soon. We don't have a penny of debt other than the credit cards that we use and pay off in full once a week.

[@LeeH-Ranger83]

Josh, I'm all about the principle "NEED v. WANT"! Rangers Lead the Way - HOOAH!

[@Ramonsito1]

Amen, Josh. Amen.

[@idellameyer7411]

I am 45 years old with very little set aside for retirement at this point. I have always been curious about the stock market and have witnessed some people who played the game right and retired early because they used the stock market. When I ask them, most said that they invested very little to start with, but their portfolio grew. 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 decent returns

[@idellameyer7411]

@White House Down Hi, where can I find traders to copy?

[@idellameyer7411]

@White House Down Thanks for sharing. I found her website online, will connect with her.

[@kevinmchugh870]

Recommend reading Jack Bogle "The Little Book of Common Sense Investing". Order it via Amazon. Single best book for you. Avoid all the scammers and quick rich quick scams.

[@ceec5741]

@White House Down NO! PLEASE do NOT go with a broker - they will make you BROKER from all of their fees. Investing is much easier these days with companies like Vanguard or Fidelity. Please go to the library and get "The Best Investment Guide You'll Ever Read" by Daniel R. Solin. He keeps it simple and advices investing in mutual fund Index funds (explained in this book if you're not already familiar with the concept.) You can call Vanguard (or whomever you choose) and they will walk you through the process of opening an account. Best of luck!

[@dmjh932]

In recent years all I hear are people bragging about their savings or complaining about their lack of. There are financial planners and advisers on every street corner. Why? Because according to FINRA, anybody can claim to be one. DipFA, short for Diploma for Financial Advisers is an FCA approved qualification. Take the course, pass the test and hang up your shingle. Many are also insurance agents hoping to sell you an annuity which offer them big commissions. Stay away. Go to Fidelity or Vanguard and they'll help you with extremely low fees. Remember. It's not what you make. It's what you keep. The same applies to investing.

[@terryB4713]

Thank you once again for your valuable information

[@terryB4713]

I will

[@Roger-il8iw]

If you had been living in the south that 200k is worth a lot more. We had a household income of 150 and that’s almost upper middle class here.

[@nikiclaypool8800]

I have been watching you for a while. Keep it up! I'm hoping you will still be around to hire next year to write up my early retirement job so I can exit the " crappy old job!"

[@stevejohnson2108]

Josh, kudos to you my friend for being so honest. I guess this is your channel and you want to have integrity be part of it which makes you probably a 1% of youtubers. You are absolutely right, having millions mean nothing if you financial house is not in order. you want the perfect example? Look at the US government. After WWII we had all the world's gold, all the best scientists that came from a destroyed Europe and the newly created reserve currency, the mighty US dollar. 70 plus years later we are 31 trillion in debt.

[@keithmccloy6037]

Thanks for sharing Josh, retired in 2018 but went back to work part time. Using Vanguard’s asset management. I’ll be fully retired in November, I’m 62 wife’s 63 and collection her SSI. What are your thoughts?

[@rayanderson3164]

I guess the entire investment world is million + oriented and it makes people think they need millions to walk away. People I talk with are usually startled when they find out how much less they spend as a retiree than when they worked. The VALUE of being debt free brings so much to the table when it comes to how much you need to live on. At least 60% of my regular monthly bills were spent servicing debt and now with just the house left it is more like 20%. Soon when we're done working we will need only about 50% or less of our working income to live on. 1M isn't needed but it has been beat into our heads as the MINIMUM where it is expenses that trump everything. -Just my 2 cents.

[@rayanderson3164]

Having said that it is nice to be close to 2.

[@anniealexander9616]

Building wealth is important but not at the expense of missing out on having a life. I have a friend who has built a lot more wealth than myself. He retired at the end of the year and just sold his home. He had a large home but never had a family living in it. So sad! Last night I took my family out for my baby's 18th birthday. I'm not rich. I'm wealthy!

[@blackworldtraveler3711]

It's only sad to you because family in home is your thing and not important to others. That is your life. My girlfriend and I took my niece backpacking and exploring New Zealand and the Cooks for her 16th birthday for two months.

[@dresser6135]

Some folks prefer to remain single, some folks don't care to have kids. Can't we all just get along? :-)

[@genxx2724]

Unfortunately many kids are turning out badly these days, and are crippled by damaging influences. Addiction and mental illness that was caused by drug use, social media, and non-stop electronics means parents are burdened with worry and burdened financially.

[@blackworldtraveler3711]

@@jeffb.2469 Never occurred to me her post was negative. I'm just the type of guy that saved/invested building wealth and lived within means avoiding debt since high school. Took off 3-4 months from work for years without pay each year on top of six weeks vacation to enjoy life and still retired 15 years early.

[@randymillhouse791]

My wife and I never had kids and we are blessed to have never done so. To each their own. I see people with screaming kids and wonder why they did it. But that is MY personal view.

[@strokerace4765]

This can be answered for me “s..t happens”

[@Zilla-um4bn]

Love this video!

[@dhow414]

I subscribed today because you truly do tell things correctly. It does seem that many people seem to want to maximize there assets while allowing their liabilities, many with high interest rates, to stay high. They need to learn to work towards as little debt as possible, especially high interest debt, while gaining assets for the future. Some debt is fine, such as a low interest home loan, but making the effort to insure no high interest debt is carried throughout their lives allows them to fully realize the benefits of their assets during retirement. Retirement only requires replacing your monthly income and a buffer for emergencies. Extra assets beyond that will allow traveling and other recreational activities as well as the ability to leave a legacy for your family. There is no true need for multiple millions to retire unless that is needed for the above items in the location where you live.

[@sabinedepaepe3377]

Thanks!

[@garyxyz4400]

My goal when I started my 401k was also one million dollars by retirement. My second goal was to retire early by rule of 55 but that would leave me short from the first goal.

[@randymillhouse791]

I'm working on my second million now. I gave up on the first one.

[@jonathanlangford4291]

That is pretty surprising to me considering how well you explain things and explore underspoken topics. To be honest, I do know the answer. I’m 33 and don’t know anything more useful than than topics you cover…I just wanted it sooner. So far, I’ve not seen you post a video about throwing an absolute Hail Mary, putting everything on the line on a concentrated bet. Mine was Bitcoin. Obviously, it worked out. That’s really the TL,DL summary. You make great videos. You’re one of only 5 KZbinrs I send people for guidance. For perspective, I’m as likely to refer people to you as the various Warren Buffet videos or a channel like Rule 1 Phil Town. On the topic of overall wealth planning, NOT just investing, you’re the most comprehensive channel. Keep up the good work…but if you ever have THE opportunity that you believe…

[@EatLeadPal]

I worked at USAA for 9 years. Excellent company to work for but I was in IT and lots of stress and long hours led me to find another job.

[@jeffreyblanton9877]

One way to look at a divorce taken 50% of your wealth is the fact that now you only have to feed yourself. Just don’t remarry and loss the other 1/2 and you’ll be alright 😊

[@chrisloving1598]

Josh, long time follower, first time commenting. Man I really appreciate your honesty and giving us insight into your personal experiences and financial journey. You are the knowledgable and passionate person I want to guide me and my family. I'll be in touch.

[@steftrando]

Nice video, and no politics!

[@chessdad182]

Money doesn't equal happiness. A better goal is to achieve happiness.

[@dmoon9037]

8:55 re: the Agent Orange veteran in TN, if he was 100% service connected, upon his death from connected disability, his spouse (living with him at the time) could file for VA DIC (Dependency and Indemnity Compensation)

[@rossmacintosh5652]

Josh, have you had clients who had modest incomes but who built relatively large retirement portfolios?

[@CallSignWhiplash]

In my 30’s I got divorced from wife #1 and subsequently spent a lot of money on big boats and the Jimmy Buffet lifestyle. In my 40’s I eventually settled back down, remarried, had a son and was catching up. At 50 I had saved 600k and the house mostly paid for when a second divorce happened. Louisiana is a community property State and our income ratio was 75/25 so as the highest earner I took a disproportionate amount of the loss. We were married 12 years so basically the divorce will cost me 6 years to catch up. I’m 54 now; I’ve downsized my house, cut expenses and expenditures and should make it back to around $600k by 62. Life throws curve balls sometimes but I just keep trying to improvise adapt and overcome. I will never remarry at this point as I prefer the company of my dogs and the occasional date over incurring risk. If a rich cougar comes along I may change my mind but until then I’m content with my life as is.

[@frugalex-maineah6761]

Impossible to shake that feeling if always needing to save/invest.

[@virtue_signal_]

A person can have a million dollar retirement portfolio and be upside down at the same time...

[@ghostl1124]

Paying off debt --- the feeling of freedom from debt, better than having a million dollars.

[@reign0ffire88]

I'm a millionaire at age 42 and I don't feel any different than when I was broke at age 27. My kids & wife bring more joy than any $$ amount.

[@mecheckraise]

Balanced view. Since becoming a millionaire I "worry" about money more, maybe. It allows me to have choices that otherwise I would not have. I still live under my means and invest most of my extra money on growing my paid low cost rental portfolio. I plan on growing about 20% this year and another 20% next year. These life changing numbers should take me well over $20k a month. I also have some in the stock market, but last 2 months have been brutal. I am addicted to the growth knowing it is the right path.

[@realasscracka]

After having had three homes and 27 cars I found out that money will not make you happy…I liquidating everything except my primary house and now I just help people much happier

[@bradleyeid9260]

Why $1 million? On Feb 27, 2022 Josh posted a video titled "What My Retirement Plan Looks Like". In the intro, Josh stated "my goal is to have $1 million in a brokerage account by the time I'm 60." He goes on to explain that it's a nice-to-have goal but will not need that much money to retire then.

[@johnnyadams1755]

I agree, it's good to have goals but don't focus on a "magic number" , it's better to be as debt free as possible. Josh's response was to a question "why don't you have a million dollars by age 50" . No two people will have the same life experiences nor will they need the same portfolio. That's why there are no cut and dry answers. Why a million dollars, when some people will NEED much more than that, but the majority of us won't. 🇺🇸 Keep up the good work Josh 👏 Clocking out 18 more times 😁

[@helomech1973]

I am 48 and have only made over 100k 3 years in my life. And never got close to 200k. I should be over the million mark before 50. Net worth I am well over the million mark already. And I am not a financial advisor and have never used one.

[@realasscracka]

Couple years I made north of 200 I just got a pay the house off this year and make a decision

[@corralescruiser8957]

Great video! I really got aggressive about 20 years ago on liabilities. Got rid of all debt and paid off our mortgage by age 38. Then started aggressively saving and investing in a couple of rental houses and putting the rest in Vanguard index funds. Wife and I at most made 150k a year for a few years. We basically were living on one income and saving the other. Now in our mid 50s and are retired. It took a lot of sacrificing and we also never had kids. Our net worth was around 2.5 mil then a fairly large inheritance bumped that another 2. Sometimes I feel like maybe we sacrificed too much and didnt enjoy some of the fruits but am really happy and content right now. We still have our place in Las Vegas NV and also have a second home in New Mexico.

[@JANAVEL1655]

Sounds like you did an excellent job. A Salute. Just a thought . . . maybe adopt a kid .... you've got to leave all the fruit of all that labor and sacrifice to s.o.m.e.o.n.e. ..? Besides, all that knowledge you gained - - - where will it go . .. ? Best to give it to someone .... just a thought .... your life is none of my business. (No offense or ridicule intended in my comment sir.) I'm in a somewhat similar situation.... got me thinking of who the #$!%^ am I going to leave it to ...? It would go to my sister as is. She'll just sell it at below market etc. I want to leave it with someone who will USE IT (house etc.) So, I'm thinking of having kid late in life - - - either naturally, or by adoption. Worked to hard and to long to let it just go to "A sale"

[@ghostl1124]

I was going to ask , "What do you spend all your money on?" Then I read where you said you have two houses. Oh,.... never mind.

[@chiptaxfree]

What should a financial advisor review and go over in terms of auto and home insurance policies? What specific issues should the advisor go over? What are the areas of concern with our own home is the advisor looking for?

[@andyw6996]

I know for auto, look at your liability coverage. I know for the longest time, I only had the minimum 20k/40k per person/per accident coverage. I had never bothered to increase that even after I had achieved $1M in net worth. Fast forward to a year ago, I was researching umbrella insurance, and one of the requirements is that you need to max your home/auto insurance. So I reviewed my policy and realized I should have increased my liability coverage long ago. Had I been at fault in a bad accident, that could have cleaned me out.

[@edwardramos9666]

we are lucky you are so Open