Potter, IRA, Chris Hogan discussed on The Dave Ramsey Show

Automatic TRANSCRIPT

Seven hundred fifty thousand dollars worth of real estate at sixty years old can. The twenty four year old version of you. That's listening still do this. Absolutely. You just you can't be buying new cars. The latest mood is greatest Potter iphone on her. You know, you start getting all that stuff nine you still your money ways. We'll pass it eat out constantly you start doing that. You can't do it. But if you say a little bit each each pay period, you can do it. And it's hard when you're young. I know that. When did you start saving? How old were you? Probably twenty six what made you do that since you came from a family that didn't have money. What made you decide to start at twenty six years old? Well, we just had to start planning for retirement. And and I you know, we it was it was probably my third when I was thirty five forty. I don't know how long you've been doing. It seems like maybe forty when I we took your class and me, and my wife has tried to have a budget, and we've used all over the years, and you know, we we have just tried to stay out of debt and not pay interest on stuff. So you you went to financial peace twenty years ago. It seems like it was that far what could've been could've been. I mean, we've been doing it twenty five years. So that's very possible. Then. Yeah. It was it was that's about when it was. Yeah. Okay. All right, cool. And so really you're you're twenty years. The other side of your are fifteen years out of your debt free scream, and this is where we're sitting. So you're walking proof text for sham. Pretty cool. Very interesting. All right. And so what was the biggest financial mistake you've ever made in your life? Well, I think it's probably not saving as my. I should've saved more. And I've I've never used any my my retirement money for anything. But retirement, I know a lot of my friends have been tempted to our they've gone in used it for something. They get in a crunch and they use it. And did you say what the biggest mistake? Yes. Yes. Not not saving enough now. I would say that's probably the biggest one say. Much. Okay. Eating out. So theme here. Okay. I love it. Very cool. Well, Robert, thank you for calling in and sharing your millionaire story, we've got a copy of Chris Hogan's number one bestseller, everyday millionaires and a copy of the legacy journey for you to say, thank you Allan is with us in Chicago. Hey, Alan, what's your net worth. Five point five million day. And by the way, this is great honour. Well, we're honored a heavy, sir. That's a bunch. You did. Well, so give me a little break down on that. How much of that is in what kind of categories? Well, it's not counting our house, but the five twenty five million is comprised of role over IRA traditional IRA Roth IRAs a couple of the as four one K ATS some union funds municipal bonds and usual funds. So all of that all the five point five is that. Okay. And the news your non-qualified in your homes paid for. Oh, it is. Of course. Okay. And what's it worth? I don't know between seven fifty eight fifty. Okay. So that puts you like it realistically at about six six three me NetWorth right net. Nah. I that's probably about right? All right. How old are you fifty nine? All right. You've done very well, brother. Good job so much of this. Dave. And I mean, I wish I was like you so much six million dollars so much the much of this. Did you inherit? Nothing zero. Now, the five point five million. Okay. I should say I inherited five thousand dollars my first year of college, and I inherited another hundred thousand dollars after millionaire. I mean, yeah. So you're not you're not a millionaire because of inheritance. So give me your right household range of income top year in best year. And we're here. I started out at twenty four thousand four hundred..

Coming up next