Mar 18, 2024
Summary
In this episode, Chris and Jen, a military family with a net worth of over $5 million, discuss their journey to financial success. With their pensions they have a net worth over $9 million. They share how their parents taught them about money and the importance of investing. Their children also talk about their experiences with cash flow and investing. Chris and Jen explain their investment strategies, including buying and holding stocks and diversifying their portfolio. They discuss their favorite stocks and alternative investments, such as real estate and cryptocurrency.
The couple also shares their approach to retirement accounts and making investment decisions together. In this conversation, Chris and Jen discuss their financial journey, including their experiences with investing, taking risks, and teaching their children about money. They share their goals for the future, such as starting a consulting business, and discuss the importance of financial literacy and early investing. They also talk about their financial milestones, including becoming millionaires and changing their spending habits. They offer advice for beginners, emphasizing the value of starting early and being resourceful with money.
Takeaways
*Teaching children about money and investing from a young age
can set them up for financial success in the future.
*Playing games like Cashflow and Monopoly can help children learn
about saving, investing, and real estate.
*Starting to invest in the stock market at a young age can lead to
long-term wealth accumulation.
*Diversifying investments and exploring alternative options, such
as real estate and cryptocurrency, can provide additional
opportunities for growth. Taking calculated risks and learning from
failures is an important part of investing.
*Setting clear goals and planning for the future can help guide
financial decisions.
*Teaching children about investing and involving them in financial
discussions can help instill good money habits.
*Investing in small businesses and exploring alternative investment
opportunities can be part of a diversified portfolio.
*Becoming a millionaire requires discipline, hard work, and smart
financial choices.
*Using credit cards strategically and taking advantage of military
benefits can help maximize financial opportunities.
*Starting early and being resourceful with money are key factors in
building long-term wealth.