Millionaire Facts That Will SHOCK You (Stealth Wealth Explained). Most millionaires in America, and around the world, live a simple and modest lifestyle. They practice stealth wealth and the art of quiet money instead of flashy money. And the millionaire stats say that most millionaires are hiding in plain sight.
Check out the 7 millionaire facts that will surprise you and prove the brilliance of stealth wealth.
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2013 Lexus. I’ll only drive a Toyota or Lexus. No degree here. All you need is a skilled trade & work hard. I’m a truck driver. Saved a ton in my 401k since I was 26 & investment in stocks/high yield savings accounts & did well owning a home. I don’t buy expensive anything. I wasn’t given anything. I vacation once a year, work alot of hours & am disciplined
I’m on the same track💪🏾
Yessirrr,bro!📈💰🤙🏽💯
That works eventually burn out happens. After 22.5 years with a company and a single week of vacation a year I got burned out but am back on the horse again. Cool thing is no worries now financially, still have 20 years to go to early 60’s.
Keep it up guys and disregard all the others around you showing off and buying above their means, goofing off and playing all the time. Another guy quit same timeframe I did and was there almost as long, he’s in a semi panic because he didn’t set himself up and has nothing to fall back on now.
Great job!
Just curious how old are you?
Just discovered your videos a few days ago. Some of the things you talk about really resonate with me. At thirty my net worth was at about negative thirty thousand as well. Things were going pretty well financially and at thirty nine my net worth was just cresting one hundred thousand. Then I got hurt on the job and my forties were a long slow motion financial disaster. I would have been over a million by now if I had been able maintain the track I was on before getting hurt. That’s discouraging but in my fifties my net worth is once again heading in the right direction. Content like yours helps to keep me going. Keep up the good work.
Thanks so much for watching. Glad to hear you are back on track. You can do it. Stay focused. Welcome aboard. Honored to have you as a subscriber. Wishing you the best. God bless.
Glad to hear the story. Only mean I can start late then never.
I was a trouble makers and give a F life in my 20’s, 30’s well just trying to make it. Going 40, I will definitely make some changes.
Excellent video. One advantage to being frugal most of the time is that, when you want to splurge (car, holiday, electronics, etc), you can, and it won’t affect your overall wealth. Your use of the word “intentional” spending exemplifies this perfectly. 😊
Thanks so much… This is why the concepts of “discipline” and “self control” are akin to freedom…. You’ll have more, be able to do more, and receive more, when you become a better manager of that which you already have. Great observation, and thanks for this comment.
Great videos! I recently found your content and its excellent for nontechnical people. Been investing in TSP (401k) for 32 years and started a roth IRA at 19 while in college and working at Taco Bell. Net worth is around $2M. Will retire in December at 56 fortunately with a pension but investing is where I accumulated most of my assets. My daily driver a 2014 Infiniti. Must admit that my weekend car is a Mercedes CL550 that was purchased used at 30% of the original cost. Only had one new vehicle in my life which was a 1997 Ford Expedition that I traded in 2009 for a used 2007 Ford Expedition EL which I still have.
Excellent job. Congratulations. A TSP millionaire. Very cool!!
Love the term “stealth wealth “. I’m gonna use it and more importantly going to practice it. I sorta do it now, but I’m kicking it into high gear. At 70, I may not make it to be a millionaire, but I can improve my life.
Some have a house that has appreciated to 500k, but what does that do for you? You likely will sleep the same in a 200k house, and not pay exorbitant property taxes.
Showing off your wealth is a good way to paint a target on your back.
OTOH, at 70, you’re running out of time to spend what you’ve earned. Maybe it’s time to ramp up the spending.
Die with Zero might be a good book to read.
@acorn sucksThe situation depends on the state where he lives. In some states, people over 65 have to tax rates lowered. Also, home worth $500k can be sold to provide more funds to live out the rest of your life. You can downsize as you get older and no longer capable of managing a large home or tract of land. You have to consider the whole picture instead single components.
I was broke at 40 multimillionaire at 50 its never to late to change , just takes a chance and hard work
Smart work not hard work
@redrustyhill2This! Working hard is only helpful if you’re working smart.
@austinharlow i used to believe in hard work. Times have changed. It’s 80% luck, even smarts cant protect when bad luck starts attacking. Luck you have no accident, injury, sickness. Luck you dont keep getting hit with unexpected expenses. Luck you dont get robbed. Luck you keep your job. Luck that the stress of modern life doesn’t make you loose your mind. Luck you don’t get cancer even though you’re diligent about living healthy.
What u do I’m finna be 40
Great video! Living below your means and saving early is the key. It’s due to these two factors my husband and I have 1.8 million net worth. We didn’t come from money and didn’t get any inheritance or handouts. We did know from very early on that we want to be financially stable and made decisions accordingly. Honestly, I don’t feel like we belong to some millionaire elite cuz we live, look and act like a Joe next door. And yes, we have a Toyota and a Subaru 😊
You all are doing it well.
Millionaires drive Hyundais.
This middle-aged multi-millionaire who grew up in a lower middle income family can confirm everything you said is true. I actually think it’s harder for people who grew up with money to build their own wealth because they’re used to living a certain lifestyle and want to maintain it as they start their careers.
Make sure you teach your children the same ideals you have. I’m the children of doctors. But I had 3 pairs of shoes and wore hand me downs and my parents had nice cars but they had them for 10 years each and paid for them cash. We grew a lot of our own food and put money into education and we’re very frugal. I didn’t get everything I wanted. I’ve taught my children to shop at thrift stores, eating at home, and planning out their life. I’ve lived a good life understanding that you live underneath what you make and you can have a great life.
I agree, but in practice when someone is raised in a wealthy home, they’re introduced to a wealth network that floats them a lot of credit and gives them a lot of benefits. That’s why people often remain in the class they’re born into. They have expensive tastes, but they also have an expensive network that can float said tastes
You make your money from business or selling a house and getting equity…I think it makes a difference how’d you make the millions i.e. lotto winners or inheritance monies may live different.
@Alison Crockettthrift stores are expensive now. They cost same as retail or fast fashion stores.
I would love for you to do a video for young people who are just going to college or just getting out of college for setting up a life of wealth and the steps they should take. I’ve taught my kids somethings, but I think it would be helpful to hear the steps laid out.
Great suggestion. Thanks a ton. I’m writing it down…
@Smart Money Bro I want us to continue to do well. Thank you brother. You speak in a very clear and humble way with specific courses of action. Keep going!!
Love this video. Most people don’t want to “manage” a million dollars of wealth but just want a million dollars worth of stuff.
This channel boutta blow up. Very low numbers for this quality of content. Congrats on your upcoming exponential success!
Thanks so much!!!
Oh for sure. Pretty soon he will be wealthy just off YouTube alone. Great content, and I love the way he talks to us.
Fabulous description! Born in difficult circumstances and raised by a single mother. In this individual’s case, its about accumulating assets that allow for the accumulation of other assets (e.g., 2 rental properties in foreign countries (Portugal and Indonesia), dividend-paying value stocks, some growth stocks) and growing passive income. Material stuff? I have two cars that I bought used and are paid for. One is a daily driver (2019 Mitsubishi Montero Sport). One is for fun (2013 BMW M6). And, I have a few watches that I enjoy. Other than that, golf clubs, good whiskey, and good cigars. That’s it. Conspicuous consumption and expensive women are big no nos!!!
Now, Boris, won’t most people say that golf and other country club sports are luxuries? Average Joe is not an avid golfer who owns golf clubs. He just amuses himself in other ways that, perhaps, to you and the owner of this channel are money wasters. Now don’t growl at me. It’s all in fun! 😂 Have a good day; happy golfing. 😂
@Joyce Russell 100%! I have neither chosen to live as a Spartan nor via conspicuous consumption. And, most importantly, what I didn’t say is that I neither have a wife nor children (by choice). So, enjoying a few luxuries while accumulating income l-producing assets over time has not been an issue.
Good answer. An answer that I can respect. 😊
“if you don’t find a way to make money while you sleep you will have to work hard until you old”.
These assets will make you rich.
Real estate, stock, Bitcoin
@christiana joeit’s obvious a lot of people remain poor due to ignorance, it’s better to take risks and make sacrifices than to remain poor
I recently got into forex trading and im already marveling over the profits I’m making, I’m like ” how the hell have i been sleeping on this
I need a legit recommendations on how to start trading and must be a professional expert
67 year old multi-millionaire here. Bro is absolutely correct. My cars? A 2015 Jeep Renegade stick shift with 107,000 miles. A 2017 Chrysler Pacifica with 109,000 miles. Paid cash for both of them. I spent huge amounts of time thinking and planning for the future. Nothing is accidental. Here are a few more items. One wife, forty four years. Multiple divorces and wives are very expensive. Same house for forty years. Basic but nice.
Where did I spend a lot of money? On the kids. Four of them. All of them graduated from the Catholic High School, and all of them graduated from college. Two have advanced degrees. One architect, one eye doctor, one product design engineer, one corporate finance guy, all are doing well.
For those who might say “What does it matter? Just enjoy life”, I agree. Money does not buy happiness. However, poverty doesn’t buy it either.
Best Wishes.
Congratulations!!! This is a great comment!!
Inherited Millions here. 2014 Toyota Prius and before that a Camry. and in college a 1993 Civic
Sometimes building wealth isn’t about having the most, it’s about needing the least.
Once your basic needs and safety net are taken care of happiness tops off like gravy.
Amen, egghead! It’s not about how much you make,(mostly) but how much you keep. It helps to know that you don’t need the best of everything.
My wife & I hit the 7 figure net worth club in the past few years. Everything you talked about, we did & absolutely the first step is 401k & matching funds. We drive our cars 12-15 years before replacing & drive practical cars, nothing flashy
I came from a broken home, experienced poverty as a child, and had no safety nets in life. Statistic #3 is something that I have observed in my over 5 decades of existence. 12% of millionaires come from money already- I’ve seen a number of trust fund kids self destruct because of many factors. One of which is that they always had a fallback if they failed and never had to accomplish anything on their own. A little hardship can motivate someone to work hard and succeed. As for me, college educated, self employed in a trade, and practice stealth wealth.
My dad called it “the millionaire next door”. Work hard, save and do without and nevermind what others are doing and saying. Remember that comparables are the thief of joy
The combination of growing up in the lower or lower-middle class (so you know how to live very frugally), getting a higher education (so you can earn a higher income), and being disciplined enough to always live well below your means (so you can save and invest your surplus) is the recipe for most of the millionaires I know.
Great info! Thank you for doing the hard work of reading, researching, and sharing the Millionaire facts with us.
You’re very welcome…