Sorry to hear about your cancer and continuing seizures. It’s hard to be grateful when those things have happened to you, yet I still hear your gratefulness in every video. Be Well!!!
I’m retiring this Friday! I’m somewhat young at 54 but like you said Erin, health is everything. I’ve always been a very fit person but fit and healthy doesn’t always equate. 2 years ago I was diagnosed with heart disease and had to have a triple bypass. I’m fine now, but it immediately changed my view of things and decided since I have the money already, it’s time to call it quits. I doubt I would have even been thinking of retiring if it wasn’t for my health issues. Life is short and way too short to dedicate more than half of it to make other people rich.
My wife and I both had cancer scares. Mine almost killed me. This was back in 2010 and 2011. We had talked for years about taking a trip to Europe, but never felt we had the vacation time or money to do it. After we both had a dose of mortal reality we decided to just do it. We went using frequent flyer miles, hotel points, and credit cards. I know it was not the most wise financial advise to use credit cards, but it was an amazing trip. We had those cards paid off within a year after getting back. We also decided we'd try to retire as soon as possible. My wife retired about 6 months before I took a convenient voluntary layoff at age 61 with 8 months severance pay. It's been 7 years since we retired and we're doing fine financially and have a trip to Iceland planned for later this year.
I’m glad to hear you are fine now Rick!! A health scare changes your perspective for sure - happy retirement on Friday!!!! 🎉 I hope you are able to stay healthy and active and that you have a a lot of adventures planned!
Being wealthy means you pay your bills on time, have a roof over your head and can go to a grocery store and buy what you want without having to look at the prices.
First, I am happy to hear that you are healthy again 🎉! Personally, my wealth journey started later in life. I have always been one to put others needs ahead of my own. Paying my own way through college with no financial help from my parents got me into what I considered huge debt $20,000 - looking back it seems tiny now - but at the time it seemed huge. Working three jobs through college helped and growing up on a farm - where there was always work to do taught me the value of work. It also taught me that there was no way I wanted that life for myself! Then came marriage and a child who I wanted to 'have everything' I did not have- but mainly I wanted my son to graduate college with no student debt. So, after he graduated and after an amicable divorce that cut my net worth in half (not complaining - just facts- I decided (at age 50) that it was (and is) my turn. Now, 12 years later I am 2/3 of the way to the 'wealth' barometer that Forbes lists. I AM NOT a smart man... so if I can do it ANYONE can!
Inflation is far more harmful to individuals than a collapsing stock or property market because it directly affects people's cost of living, which they immediately feel. It is not surprising that the current market sentiment is extremely pessimistic. In today's economy, assistance is critical if we are to survive.
I encountered ROCHELLE DUNGCA-SCHREIBER through a CNBC interview, and I look her up. She is guiding me. Since then, she has given me chances to buy and sell the stocks in which I'm interested. You can hunt her up online if you require care supervision.>
I’m not trying to start anything but this video is really pointless she basically described what it is to be rich not wealthy and with me starting my own financial investment group I will be teaching people what wealth really is and being wealthy doesn’t come with a lifestyle nor having a certain kind of net worth when u are rich it is all about the money but when u are wealthy it’s about something much greater than that because if y’all was to ask her what it is like for a person to be rich she will have to describe it as something similar to this being rich and wealthy are 2 completely different things being wealthy is on an entirely different level what equals wealth is what I call the FO which stands for freedom and ownership so if y’all have 2 people u take 1 person and he have $100,000,000 and he got 3 cars and 2 houses one of them is a mansion he goes on shopping sprees every month and he spend an extra $10,000/month on other entertainment and personal uses the 2nd person owns his own land doesn’t pay any taxes for the land he owns because he has a deed with the person he bought the land from so the banks aren’t involved in his business transactions and the land is still fertile which means it still produces a natural earthly resource in this case the natural resource the land produce on its own is water he diversify himself in a way he doesn’t have one fork nor one face of money he puts his currency into different assets even sone that aren’t apart of the stock market nor Monterrey system the assets he puts his currency into not only generated revenue on its own but he can also use them as a tool of barter he doesn’t have a mansion just a house that he built on his own with all natural and authentic materials now if we take these 2 individuals and put them on a remote secluded island which one of them yall think will last the longest it is very clear who is the one that’s really wealthy in this example I don’t understand why people bring up net worth and money when it comes to being wealthy if a person owns natural and earthly resources he has more than some that even have $50 trillion dollars currency depreciate over time and that’s all rich people have is currency and a bunch of stuff know the difference because they aren’t the same people
Thank you Erin. Financial plan: 1. Goals Short term 10 years 2. Net worth statement 3. Budget 4. Plan for managing debt (if any) 5. Retirement plan 6. Emergency fund (3-24 months) 7. Insurance coverage 8. Estate plan 92% feel confident they will hit their goals WITH A PLAN. Make a plan. ;)
I agree with what some others have said, for example, I have a non-stressful job that pays well, live simply, stay active, look pretty young for my age, live beneath my means and save about half of what I earn. I go on great vacations, but haven't spent a penny on new jeans in years.
For people who define themselves by money, title, career and assets I remind them that injury, disease can happen to anyone and I would suggest doing some soul searching regarding what defines you. I chased the Jones's for awhile and was miserable. When I stopped and started to live modesty regarding material things and focused on health and enriching my soul, I found much greater happiness and fulfillment!
8:51 - an estate plan - I don't have such, but every year or so I try to go thru our finances and create a "If Ron is Gone..." document With insurances, investments, etc.. and the contact info for each. This also contains what the current value of each should be on the day of writing.
I’ve never thought about being wealthy in just pure monetary terms. It’s certainly a factor, but it comes down to some of the things you describe in this video. What are your goals? What is your level of health? Can you cover your fixed expenses? How is your social network? Are you taking care of your mental wellbeing? All these things and more contribute to your life’s wealth.
I think an individual who lives alone or a couple are "wealthy" enough to retire if they have a home paid off, and a fully funded 3 year emergency fund plus 25 to 30 x the cost of their annual household expenditure. Hopefully their annual expenditure includes enough for 6 to 8 weeks vacation every year. I think the value of net worth to achieve this is different for every couple.
@Erin, This is a very useful and informative video. I thank you for making it. My own sense of what it takes to be wealthy is $10M. (Full disclosure, I am still working on my first million - so I have a very long way to go.) Fortunately, I am extremely healthy. I agree the excellent health is the most important thing. I will study your video and really think this through.
I wish you the best. You might consider magnets placed around your head keep it on all day and each month look at a thermography and see if the tumor is shrinking or getting larger. If you are using bar magnets you would switch the poles around if the tumor was growing. Medical magnets which are round you would just leave it using all the same side. The Russians had extensive studies on this
Definitions are in order. You are conflating “wealth” with “well-being”. Wealth is strictly a money/things type number and should remain so for clarity. Well-being however is many things-such as health-and subsumes assets like money. So the overarching question should have been, do you feel “well off” or “secure” or “happy”, but not how much money do you need to be wealthy and then follow the answer with non-material things like health. The question is “complex” as you’ve sagely noted, but only because you’ve made it so.
I would not say that I feel wealthy, but with a net worth of 1.3 million, a paid off house and no debt, as well as being already eligible for a pension and social security, I feel at ease.
Age is just a number and "wealthy" is just a feeling. Once you figure that out, you are way ahead of most people. By "way ahead of most people" I mean you're a senior citizen!
very good video; good advice; my advice is to keep it simple; your plan won't work in the long run if it is too complicated. Like you say, take care of the basics (e.g. insurance, pay off credit cards every month, and so on). Then calculate how much you need to be financially independent, and by when, and what you need to put away every month, including the interest you expect to make on your investments. Then pay yourself first every month, having it taken out automatically so you don't have to think about it. If you put that in place, you don't have to obsess about it. Last thing is, you have to find a job you love (or at least, like a lot). It makes everything else more than tolerable.
Me 59, wife 62...net worth 1.2 mil. Investments are 915K and the rest is home equity. I don't feel wealthy. I feel comfortable and cautiously optimistic about my future retirement.
My opinion on wealth is: having great friends, a loving family, good health and a career that is fun accounts for almost all of the feeling of being 'wealthy'. I know plenty of folks with a lot of money but they are miserable people.
🤔 Wealth is Health & Not Cash, Your Time is your greatest Value, being able to do what you want when ever you wish! Having time to help others supporting your family and community 😊
West coast now considers 62k to be poverty level. For a couple 230 thousand a year is required to be 'getting by'. I have no use for these guidelines= they're what unions use to negotiate. I retired and 2 years ago was making 5 times a month of what I needed. After Fauci/Biden I now calculate I'm making 4 times what I need and iReal estate is always nuts.t is 'at risk'. I have never made enough to move my residence- because I know in realty ; one move may be worse than no move- because one may be forced to move again. Real estate is always crazy expensive.
It depends on where you live as well. Here, in NYC, you need to have more income than in many other areas. So feeling wealthy here would require more than in say, S Carolina. As wealth goes, it’s a matter of being independent. Can you do whatever you want without having to look to see whether you can afford it? Can you do that while still keeping savings and investments free from shrinkage? These are individual feelings of wealth. They’re valid for the individual.
Such a cute puppy As I’m typing this my wife says we love our puppies (I watch RU-vid on my iPad and with an earbud, funny coincidence) Our favorite night is puppies on the couch with us God Bless you, your loved ones and your health 🙏✝️ Btw love when show your bloopers at the end of some of your videos 😊
I wholeheartedly agree that health is a number one factor in determining health. The older I get - and age related issues start to creep in - I'm reminded constantly to take care of my health - which is pretty good overall (thank God!).
To me being wealthy is having passive income, income property or your investments pay for your daily expenses, including vacations, and never having to touch your principal.
Yours is inspiring story, you should be very proud of yourself. Yes, health and happiness is much more important than wealth and while some correlation it’s not a given.
@Elizabethadams712 I have advanced degrees in finance in economics and enjoy learning, but no longer need to worry about wealth, though I grew up poor and in fact my family was homeless when I was a child, so I’m inspired by people that overcome challenges and even poverty and go onto financial freedom.
At 56 (single) I have a net worth of just over $1M. I'm fairly confident that I will have a net worth of over $2M at 65. Not wealthy at all!That money is tied up in real estate, 401K etc. Sure, everything can tank and go to zero but then we are all in trouble. will there still social security in 10 years? will (rising) required insurance offset rents I receive from commercial property I own? owning your home outright is great...but it only provides you with a place to live, not income. in fact you still pay taxes and upkeep. you only take a small percentage of your investments monthly, collect rent, and collect SS, crossing my fingers that it keeps up with what I am making now once I decide to quit working. I'm certain that I wont have to develop a taste for cat food which is great since I didn't get my real 1st job until I was 36. I should be able to buy what I need but not anything I want. if I decide to sell a property, or raid my 401K for cash there are HUGE tax ramifications for doing so. I've never had children so I hope to leave my two nieces somewhat comfortable- at least enough so they wont have to eat cat food either. iI like to think that I took my retirement early. I worked at ski resorts for almost 10 years thru my 20's, bartending at night, lived on both coasts Cape Cod, Key West, Lake Tahoe supporting myself working in tourist areas with young like minded people from all over the world. drank too much- tried everything. I even tried commercial fishing in Alaska which was a bust. have your fun when you're young enough to enjoy it! broken bones and hearts heal. but you wont remember all those extra hours that you put into your mind numbing job for taxable overtime or for an unappreciative boss. when youre old all you have is your memories if youre lucky. other people work mind numbing jobs their whole lives just to drop dead at retirement. Maybe you'll have the money to take a guided tour through Central America at 70, following an intinerary, riding busses with other old bastards and eating at preplanned restaurants.but it wont be the same as doing it at 19 with just a backpack and a few hundred bucks and meeting women who want to sleep with you because you're young and attractive and bold enough to do something like travel alone- rather than have to pay them to see your old shriveled unit on viagra-not the same at all- but I digress..haha
I consider myself wealthy. My definition of wealth. Generating enough income from Social Security, pensions, investment growth, that will exceed your annual expenses. Also having enough money to meet annual expenses for the rest of your life If for some reason, your source of income were to dry up.
Minimum of $10 million dollars. If the U.S. goes to pieces, you'll need a chunk of that to emigrate to a new country. Also, DO NOT STOP WORKING or you will not last long. Waking up with absolutely nothing to do every day gets old - FAST. I tried retiring in my late 30s when the tech startup I was at went public. I went to seed. NEVER AGAIN. It is a BLESSING to have productive activity and challenges to work through. A blessing.
You are wealthy when you reach that 1% number of net worth or over $11M. Or you can be wealthy with whatever amount you can live and not worry about money. All depends on your expenses. I am a 1%, retired in my 70's and still worry.
I retired a bit over 20 years ago. I have a comfortable income (80k) a year and only consumer debt is a 190k mortgage (2.875%)on a house worth 400k. I am not wealthy but comfortable. I also put $1000 a month into savings and currently have $87k.
Definitely Health is your first wealth as Ralph Emerson said, but reality to feel wealthy you need close to $7-8M to be rich at entry level. I recently hit $3M+ NW with stock, my business valuation and real estate. I am single in late 30s but I dont feel wealthy as I live on budget. I do live very stress free and I get to travel to Europe every year (still on budget). I live on small house (no mansion) and simple car.
I'm about at $10M but still don't really feel "wealthy". I live the same quite normal way as I lived when I was 25 and had a few thousand bucks in the bank. Okay we have a $3M (paid off) house which is quite nice, but I drive 7 years old Camry and otherwise live just a normal life, still working the same engineer job 9 to 5 like the last 25 years, shopping at Costco, flying economy class etc..
The more money I have the more I realize how much things cost. Good rule of thumb for educated people is every two people cost a million dollars a year. Facility and everything else
I have been disabled (legally blind) since birth. Got thru college, but took on debt for grad school when I could not get hired anywhere. Discrimination is a huge road block. Even with a MA I spent most of my adult years under-employed doing unskilled low wage work because of systemic bias. So, at 57 with age related health issues, and non-existent job prospects, I have more debt than assets and no way of ever paying them off without winning the lottery or being ultra aggressive in the market. That said, given people like Bezos, Buffet and Musk, $2.2M is a drop in the bucket. The average 1000sqft house in CA goes for $1.1M these days. So, health aside, to me wealth is more in the $50M range. Getting to mid 7 figures is just getting comfortable. Chances are I won't even get there or get to enjoy life.
Too many friends don't even try to have a budget. They say that they don't have enough left over to save, so they don't try. I tell them that it's not just about saving, but spending, and on what you're spending. Sigh.
For me at least, the problem with stuff like this is net-worth has nothing to do with how much money you have to retire on. Someone needs to make a video about that specifically. For my wife and I, The value of our house has nothing to do with what we have for retirement. Also, what if we want to leave a certain amount to our kids? I believe most people have those simple goals, be them whatever amount. I guess my point is, if you net worth is 4 million, and 1.5 is property you will not sell, and you plan to leave a million in assets to each of 2 children when you die, your actual amount of money for retirement is closer to 2 million. Correct? That is the number you should use. Not "true" net-worth.
When asking people what it takes to be wealthy, they should instead ask what a wealthy person's maintainable lifestyle would be. Most people simply don't understand the money it takes to maintain the lifestyle they think of as wealthy. $2.2 million provides between $65k and $90k of sustainable income, depending on your age. I know that isn't what I think of as wealthy, but for a median household making $70k annually it might be. I put the number closer to a $10 million net worth.
I took out 8% of my retirement account, to live like I was accustomed to, for five years. Then I was debt free and reduced to 4%. Now 63, my budget will be reduced again at 65 (Medicare) and at 70 my S.S. will be $4,200/month. I won't require any retirement withdrawls after 70 but will have to make small RMD's on any IRA that I don't convert. I would have no need for $10M. I'm already giving $400/month to church and charity so, guess I'll be giving away more.
Americans don’t know what it takes to be really wealthy. We are worth eight figures but live on the coast in California, are retired, and are healthy. It also depends on the people you associate with. While we definitely aren’t the poorest in our network we aren’t nearly the richest either. But we have the luxury of being able to afford to send out daughter to college. We can’t afford everything we want and still have to make choices on what is most important to us.
Wealthy? Who knows, but my wife and I retired in our 50's with zero concern about money until we reach age 102. That's when the money runs out. We planned on this in our 20's and lived beneath our means, saved/invested money while raising 5 kids, We were told retirement in our 50's was just not possible. WRONG! And guess what? A whole new generation of wussies have come along to say they just can't do it, so nothing ever really changes. In life success is a choice, and so too is failure.
I always assumed high income = high stress but it’s nice to see that data honestly showing that it’s not necessarily true. I’ll be in the position one day!
Erin excellent video! Perhaps a video that addresses debt and its impact on feeling wealthy as debt can consume cash flow and negatively impact a persons well being. Zero debt along with a high net worth might just be integral to a long term plan. Is having zero debt in retirement a desired position to be in?
You are wealthy when your "income from investments is more than your budget, or your spending needs." That definition was from Rich Dad, Poor Dad. It sounds about right. It is not a feeling, but an actual math problem. If your investments grow while you are spending income from it, then your income will grow without any more work. When I was 25 back in 1989, I assumed that I would need ~$2.5 million, in addition to SS and the company pension to retire and be comfortable in 2031. The fidelity calculator suggested that I needed to put away ~$500/month into a mutual fund until retirement. So I did that. I fully funded the 401k(16%/yr+3 co match) and started a brokerage account. Unfortunately, at 46, my company was sold and we were laid off. At that point, i determined that I would hit my goal if I let my 401K grow without any withdrawals until retirement. The purchase company after 5 years, gave us an option to take over the pension lump sum, so after calculating that in 16 years it could double and double again, and hit the original pension goal for an annuity, I took the rollover. That has doubled and I have 8 more years to add another 50% growth in order to hit the immediate annuity goal. So far everything is on schedule.
Wealthy? I'm currently worth more dead than alive. Literally. My life insurance, even without double indemnity is worth twice my current net worth. I'm 46. I'm completely screwed, retirement wise, unless something very drastic changes. Wealthy isn't even in the cards.
Another "fun" thing to do, especially when you're 20, or so, years into your work life, is to use your annual SSA statements to get your total earnings for each year. Use an inflation calculator, like the one at the US Department of labor website, data.bls.gov/cgi-bin/cpicalc.pl to convert each year' s earnings into the the value they would represent in the dollars of your first working year. Compare the curve you get for the multiple years of inflation-corrected dollars to a similar curve using the uncorrected yearly earnings number from your SSA report. In my case, using 41 years of SSA earnings data, the curve for the numbers that were not connected for inflation looked like a hockey stick. Graphing the inflation-corrected numbers for all those years showed a very gradual, almost level, slope. Nothing drove home the concept of inflation, to me, more so than that exercise.
It's a matter of perspective. I grew up poor, and I felt FABULOUSLY WEALTHY when my net worth hit $10k at age 23. $10k in the bank was, to me coming from nothing, the realm of rich folks. When my net worth hit $1 million, I thought I had finally made it. But I wasn't sure it was enough to be financially independent. Now at age 60, my wife and I are decamillionaires, we donate our salaries to charities. In my mind, I know we are pretty rich. But in some ways, I feel less wealthy now than I did at 23. Kinda weird, isn't it?
I am in a similar position. I cut lawns in high school and worked building maintenance in order to pay for college. That paid for the first year of private college, The second year, I worked in a pizzeria and Friendly's(summer only). I continued working at the pizzeria until I finished college. I got, on time, out with no debt and $1200 in my pocket. I started my career and kept my college budget while starting investing. That has grown out to $5.5 mil. However, when we go to the supermarket, we still look at the remaindered and discounted stuff. We keep our budget and are paying for all of my daughters college, so that she will be debt free too. As you get older, you may always feel that it is never enough. It is the trap that the average person does not understands.
@@hogroamer260 I graduated college in 1988... Laid off in 2010. Now I only do contract jobs once in a while to make sure that I don't touch the portfolio. Only 8 more years to go until retirement.
Being retired for 5 years now, my wife and I consider 'wealthy' as being able to pay our monthly bills (utilities, insurance, food, mortgage, etc), have excess left after paying the aforementioned, have a well-funded slush fund, and plenty of cash invested in our 401K's. We have no credit card debt or car payments.
What do Americans do if they have no health insurance? Do they just let you die because you cannot pay or place you and your entire family into severe poverty? Just wondering since I live in a country where I do not have to worry about that. For me it was more than enough to deal with a sever illness, and gratefulI did not have worry about bills.
If you don't have wealth, you don't have health. Everything that keeps you in good health costs money. Annual checkup? Healthy food? Good medical care if you were hit by a red light runner? Cleaning your teeth once every six months?
@peter-pg5yc Incorrect. Plenty of poor people have Medicaid, and middle class folks have employer-based healthcare. Besides that, it's a metaphor that CLEARLY went over your head.
I find it interesting that most folks consider that it takes over $2 million to be considered wealthy. I am nowhere near that and I feel wealthy, but I live a simple, frugal lifestyle, only debt is a little left on my mortgage, and have a decent chunk saved and invested. I have a good job with not a lot of stress, I’m active in my church and community, and I try to exercise every day. I guess my wealth feeling goes beyond strictly finances.
I know someone who’s net worth is $400k and feels wealthy. Well to start with, they live a simple life, simple wants, doesn’t cost an arm and a leg for them to be happy, and most importantly has a successful marriage (he picked the right lifetime partner). Lots of people are broke because of broken marriages (one of the most expensive ever).
Wealthy = living below your means. Poor = spending beyond your means. An unstoppable appetite cannot be filled with any amount of money. Banking 20% of your take-home pay is a pretty safe measure of secured wealth for those in their working years.
For me, 20% is a starting point. That's basically impossible to do if you wait until you've already got 3 kids, a big mortgage, 2 car payments, and a spouse who enjoys the finer things. Live below your means for 30 years so you can live beyond your wildest dreams for the next 30.
Erin, I really liked the comments at the beginning about getting a bit away from $ to assess wealth! As someone who's 58 years old and getting near retirement, I'm always observing people 5-10 years ahead of me, and the stark difference is along the lines of health. I know a 70 year old who's in fantastic health and exercises daily to ensure that. I know someone a bit younger than that who doesn't look after his health and that places profound limitations on what he can and cannot do. I know what category I want to end up in! Excellent subject overall!
I am right there with you, I always look at people who are a decade or two ahead of me, and I know who I want to age like. That’s why I think it’s so important to take care of your health if you want to have a wealthy life
You are an amazing young woman! Didn’t have information you have here in working years. However, somehow, growing up without money I was always aware to plan to have enough money to survive without struggling too much. Thus, have always had a paper-pencil plan. Now 25 years retired, I feel wealthy because it’s not a struggle. Your posts are great for young people starting out. Great proven road map.
Thanks for sharing!! I hope you are having an amazing retirement! And I really like what you said, sometimes a lot about feeling wealthy is simply not struggling.
Had to retire early at 58,but finally got SSDI at 62. Planned to work till 67. Was topped out in pay at my airline job with high seniority. Planned on banking big money those 9 years. So HEALTH is what matters most, as money doesn't matter in the grand scheme of life, if one can't enjoy spending it. Colleague of mine took airline buyout like I did that finally paid us all off last Sept. 1. She was 6 years older than me I believe and she just died of pancreatic cancer. Money helps cushion life, but whether one has 2 Million or 200K, without health, numbers are just numbers.
I'm pausing at the 10-second mark to give my answer. My gut feeling when I think "wealthy" nowadays is (age dependent) about a $2 million+ net worth. A net worth of $1 million still seems great but not exactly "wealthy" in 2023.
Wealth is relative. I have family scattered all over the planet and what it takes to be wealthy in each place can vary a lot. My most recent "net worth statement" had me over $2m, which would feel wealthy in some places. I am expat in a large metropolis where I commute two hours a day in my 11 year-old Ford Focus. My neighbors are driving fancy German cars and I feel my means are modest by comparison. If you asked me how much I would need to feel wealthy, it would be $5m as I'm only feeling solid middle class at this point.
The irony is many of those neighbors driving BMW's and Mercedes are leasing them and really have a low net worth. It may be a fancy lifestyle, but its just rented. They're trapped working to support cash flow, which of course can't go on forever.
Wealth to me is not having to worry about having to work. I'm 62, I still plan to work until 65. But if I lost my job and never worked again I would be just fine. I don't feel that I'm forced to work a job I don't enjoy. I've had to do that in my younger days.
I don't think wealth has much to do with net worth and more to do with passive income levels that are covering expenses. Wealth is measured in time and not in money. How long can you survive and cover all your lifestyle expenses without having to work in the morning. If the answer is indefinitely, then you are wealthy. Wealth is more cash flow than net worth. You may still put in the hours and keep building, but not need to. If you could stop working each day without a significant impact to your lifestyle, then you are wealthy. If you live in a cheaper location it's easier to be wealthy on a smaller cash flow. Net worth is worth less. Cash flow is king.
House paid, zero debts, goid health, been retired 6 years, wife is given all documents and knowledge usage of accounts for the time i might not be here. This last step to me is possibly the most important step!
Rich and wealthy are two different meanings . Real wealth is when u can stop doing what do as doing to become rich . You can remove yourself from the operation and still generate the same cash flow or more without being there. Health #1
Great video! I tore my achilles a year ago and I realized how much I took my health for granted. I'm better now, not 100% and can't do the things that I used to do but it's opened my eyes as to how fragile life can be.
