On top of being a knowledgeable dividend growth investor, Mike is a passionate entrepreneur. These should be keys to creating wealth and being a millionaire. Yet, he is not. Why is it so? Is Mike that bad at saving? Does he have extravagant spending? What are his financial and retirement goals? Here’s a look into Mike’s lifestyle and ambitions!
You’ll Learn
- Being financially independent is one of Mike’s goals… but not simultaneously! How is that possible? The podcast host defines what financially independent means to him.
- Most wealthy people will say that it is much easier to reach high financial goals when you’re an entrepreneur. It’s just a matter of simple math. As one himself, how does that help Mike achieve his goals?
- Mike often said that he’s way better at creating new money than saving some. Is that why he’s not a millionaire yet? And how is his spending habits?
- The dividend growth investor insists on the fact that he is rich in time. However, there is no weekend without his phone and no vacation without his laptop. Vero asks how is this being rich of time?
- Mike’s parents went through bankruptcy as he was a child. But instead of making him frugal, it made him reach for new highs. He explains how this experience shaped his financial goals and his future life.
- The one-year RV trip Mike did with his family changed everything. It shaped his approach and triggered his desire to enjoy life through traveling and experiences.
- Mike aims to keep busy all his life and never retire. However, there comes a time when there’s no choice but to slow down. Does he have any goals related to that? What would his life look like at that point?
- Since he’s a fan of creating new money, are there other sources of income that Mike plans on adding to his wallet? And what is the importance of his dividend income in his plan?
- Mike and Vero end the episode by explaining how physical and mental health is linked together to achieve Mike’s goals and what he does about it in the present time.
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Investing is like a great hike. You plan, but you never really know what will happen or if a storm is ahead. Mike shares how he financially, physically, and mentally prepared to climb Kilimanjaro and the life lessons learned that apply to investing.
Our guests all have something in common: they decided to build their own lifestyle and found ways to achieve it. Get inspired by some of the best DGI and FIRE guests!
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This podcast episode has been provided by Dividend Stocks Rock.
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