Listen: Roth Ira, Detroit, 401K discussed on Chris Hogan's Retire Inspired
"Cards. Well, it listen, and that's an often can be a blessing in disguise candidate. I think it is well look at it this. So again, tell breakdown your net worth for me. How do you have this invested? What's it made up of primarily the five, twenty six. The ball that is in a small portion is in Roth IRAs. The biggest chunk of it is in roll over IRAs after tax money, and there's well merrily in about sixty five seventy percent of the money is in index funds, stock index funds. Usually broad base stock index funds and a smaller percentage somewhere around thirty percent is in fines and international bonds. Okay. Now let me ask you, are you first generation millionaire in your family, or do you have other millionaires in your family? Actually, my dad passed in nineteen ninety six and my mom passed Justice. May. And I did managing her money for a while now, fifteen years or so. But she did have millionaire status when she died. Okay. And gathers very thrifty about saving and I try to learn as much as I could from him. Yeah. Well, that's big alad when you talk to people these days, is it still possible for people now in our current time to become a millionaire? Absolutely. I mean, one big advantage that we've got nowadays is Roth IRAs and we just didn't have Roth IRAs in eighty four. That's right. And in eighty four really 401K's we've just kind of starting to come into being. And now we got great things with 401K's where you also can have loft for a one k. right, and that's just fabulous. It is so listen. You have a network of almost six million dollars. What drives you still today? What are you trying to accomplish? I really do love my job. I enjoy going in work every day. And I, I like to think I'm in some small way adding value because there was a real fear I have, it's that people in my generation and the fouling generations are just simply not saving enough go. No, you're absolutely right. Got great cars, but that's a depreciating asset. And so that's why really worry about. Do you know? I really do not Detroit. I love what you're doing because it's such a public service. I appreciate you not understand. You also have a question for me. I do come right now. I'm and I've done this for years. I'm next on four one ks and I rise and I do back door IRA Roth IRA, and I also do contributions by my company's stock.."