Reflecting on How We Became Millionaires in Under Six Years

To be honest, my wife would readily admit that for us to become first-generation millionaires, was always more my thing. It just so happens that it was a hobby that wasn’t taxing, costly, or physically detrimental, so she allowed it. My wife is highly protective of the family, it’s likely that she doesn’t like that I share so much. But I think she also learned why I believe it’s Important.

The end goal has been and always will be to help others. At least until we retire early and travel the world.

This entire journey has been psychologically, physically, and spiritually taxing. ‘Give unto Ceasar‘ because (sustainable) change demands payment. And, yet the process pays long-term dividends. It’s the kind of journey that I wished I stumbled on decades ago.

So here’s hoping this post brings some clarity to your journey from $0 to wealth.

To be Poor and Surrounded by Lessons

Unsurprising to the few supporters that I have out there, I grew up poor (in Haiti). You know, one of the places that former President Trump called a Shithole. However, contrary to how he felt about the place, I wasn’t exactly unhappy. If anything, growing up without my own parents around me was way more irksome.

For a lot of kids, I guess it’s pretty easy to look and see one or both parents and think, “Wow someone or these people wanted me here.” There is something to be said about the need for a father in a home.

Most of the time, I felt like some sort of burden. I learned quickly to come and go. Headed to school. Hitchhiked when needed. But like all good things, you are eventually confronted with other kids who have more than you.

Those kids seemingly had it all and yet they were assholes.

Many of them still act entitled today. Maybe there is a problem with telling your kids that they are the greatest thing since sliced bread. Sadly, all bread and ain’t buttery brioche; some of these kids are stale.

One of those kids was my older cousin. She was super smug about things, often with new outfits, stories, and worldly ideas. Not sure what my older sister thought; but I sure wanted to live that life instead. Her dad would bring her BBQ. He would smile, give her a big hug, and many some kisses that she would eventually swat away.

In contrast, my world was darker. I felt less protected and cared for. It seemed like she had the life that I didn’t. In retrospect, my cousin had what could be considered a $20 plate of Barbecued (fire-grilled) chicken, and I was envious. I wasn’t envious of her specifically, just the opportunity that money seemed to afford.

I can still taste the chicken (when she would be bothered to share the leftovers).

Even the Poor Have Privileges Over the Po’

What was equally strange is that I had more than others too. That’s the thing about living in Haiti; the stratification of wealth was never that extreme at first glance. It was always based on proximity, and we lived closer to the bottom of the hill.

Yeah, there were those who were extremely rich but we didn’t live near them at all. I barely knew they existed. If anything, they drove by with newer cars with the windows rolled up. All while the concept of AC was foreign to me. Didn’t know you could cool spaces until I flew back to the US. I even assumed that the principal of my school was rich. He was obviously light-skinned and spoke French fluently. Generally, he smiled since every kid was a payment, however, I always felt that he wanted to sanitize his hands when no one was looking. [ref. colorism among Black people]

Working poor families were neighbors to the severely impoverished. All of whom were likely better off than the subsistence farmers or the Restaveks. It was a mess in retrospect.

I was 5, and I was already tired of being poor. The entire experience felt exhaustively complicated. There were places you couldn’t go, things you couldn’t eat, birthday gifts you couldn’t have, and people you shouldn’t talk to. Being poor has rules, restrictions, and problems.

And I didn’t like it. As they say, “Would not recommend.”

So How Did We Fix Generational Issues and Become Millionaires?

Although I had an inkling of what to do for years, it took a while to put any plan into action.

At first, I tried to share my thoughts with my family, then my friends, and finally I forgot about them completely. When you are surrounded by people who are convinced that nothing can change and that the world is conspiring against you because of every reason known to man, you start to believe it. [ref. Bigotry of Low Expectation]

Conformance is one of the hidden traits in human society.

In order to survive and belong, you have to go along with it. As my teen life spiraled and during my brief incarceration, I realized that I didn’t have to belong to anything. I rarely ever fit in with others, so I decided to move past that weakness. It was the first time that I learned to let go of all pretense. I recognized the truth. My family hit their financial or material existence ceiling in the 80s. I wasn’t like them, I couldn’t fit their version of reality. And then, the Marines rid me of any idea of Good or Bad. [ref. Plato’s Allegory of the Cave]

Turns out, that kind of mindset was pivotal for my evolution. It was a right of passage, a cleansing of all worldly ideas. All leading to one core understanding. First, you have to divine all possible paths, then you have to DECIDE THE PATH. After that, you have to follow it.

My military experience ultimately taught me that nothing is IMPOSSIBLE, and never to trust anyone who speaks in absolutes. Men didn’t know he could fly until he invented the plane. Only change is constant.

So what worked on this journey

The Mindset of Millionaires

Without, the proper mindset nothing is possible. Or better yet, nothing good can be sustained.

I always had a good sense of math. Mainly because my aunt beat me growing up to help me learn it. From the Marines, I learned to break my own mind and calcify new ideas. Bootcamp forces you to let go of material things as well as your perception of the way you think everything should go.

For Marines, learning is stackable, not static. I studied criminology, French with a concentration in Business and Accounting with a specialization in Taxation.

After years of labor since 16, I guess I ultimately studied money. The challenges made me better for it. Being poor has its privileges. You can endure more than the average person. And you have way more perspective when times are hard.

You have to be willing to blend everything you learn into something usable. One of the most significant things that I learned in middle school was Art specifically computer art, which I eventually applied in Adobe Photoshop. I still use those skills today in my Canva posts on IG. I’m not an artist by any stretch. What I can do is break down what I see in elements. Like identifying instruments in a song, my brain can solve for X.

That’s how I solved the wealth equation.

Confident especially on your own

You will be challenged along the way. However, it’s just your mind asking you if that’s what you really want. Most people choose comfort and the less painful method. Many others self-medicate with entertainment, drama, trauma, and more joy. It’s not unlike finding a person who complained about prices and ended up going to the Beyoncé Concert.

Check out the Fortune article, “How Taylor Swift, Beyoncé, and the Barbenheimer films are such blockbusters that they’ll add $8.5 billion to the U.S. economy in just 3 months.“

People find time for what they love, who they love and to find love. It’s not wonder why single people spend more. If you find yourself struggling with money, it’s likely that you are tossing a lot of dollars to pay for love. Unfortunately, you statistically can’t buy love. At least not the real version.

Go against the flow.

At one point, you will fall out of sync with other people. It doesn’t mean you aren’t friends, instead, it’s just some places and spaces you will navigate on your own. That’s the nature of your own story. It’s your chapter, it’s unique. Turns out, if you hang with four broke friends, you will be the fifth.

We are the company we keep.

Above Average Income in the North East

My wife and I both work 9-5 and make above-average income. In total, we are now up to $237,000 per year based on her recent promotion kicking in September 2023. How is that possible? We live in the Northeast. It pays 30%~40% more than other regions.

It wasn’t always the case. I started post-grad school with a job making $23,000 per year before taxes. I resolved to make even $1,000 per month of after-tax pay work. Now, we likely bring in $8,000 per month, so we know how to make it work even in a high-cost-of-living area.

With that said, we know people who make well over our income and who don’t seem to manage it at all. This is where a great financial plan comes in.

The net max financial plan made our money tax efficient so we get to keep more of it. It’s the long play and its successes aren’t over night.

Don’t worry, I update the plans (above link) annually for FREE. Download a copy. Tell a friend, no need to gate keep wealth.

Expense Management and the Power of Self-Discipline

My wife and I are good a handling our cash flow. And, we never let access to the income, dictate how we spend.

Generally, we are more aware of cost than the average American. When we went out we noticed how two drinks, one appetizer, and one entrée cost. For nearly $250, we definitely aren’t going back even though the service was great. This doesn’t mean that we don’t spend. We try to spend on the things that bring us true joy and value.

For example, our annual travel budget is likely hovering around $20,000. Since that’s the case, other discretionary wants get the axe. We still have a problem with Amazon Prime but we mitigate it with Credit Card rewards. If there is a will, there is a way. The big takeaway is that you have to track your expenses.

Sometimes our credit card reward pays for our travel expenses and/or credit card interest fees.

How Millionaires Use the Power of Investing

We invest more than $60,000 as a baseline but we are shooting for at least $84,000 in 2023 and around $100,000 on average per year starting in 2025.

Why?

We want to retire early. Additionally, my wife has Type 1 diabetes which is expensive. To offset this, we invest as much as possible today to hedge against tomorrow. Since our parents aren’t retiring with any savings, we also have to factor in that shortfall in the coming years.

We could not have built this much wealth through savings alone. Investing is mandatory if you want to retire comfortably. Additionally, investing isn’t just about the stock market. We also purchased an affordable condo in 2016 which locked in mortgage and HOA fees for $1,000 per month, whereas others are paying $2,500+ per month.

That level of geo arbitrage helped us pay down debt quicker than our peers, travel where we wanted, and invest as needed.

It was always the Financial Plan that made the difference

In short, the rest is easy. Good decisions compound.

We follow the net max financial plan. This requires that we change how we think about money, experiences, life, and friendships. It’s all about getting closer to your own purpose. In the end, every action you take aligns you with a better version of yourself.

Yeah, I wanted to get to a million to prove a point. In the end, it was always more about getting there with someone you love. Do I still think it is possible to do for most people? YES. However, the timing can change based on your responsibilities, market conditions, and even the person you decide to end up with.

“You must do the best with the time you are given,” soft quote from Lord of the Rings.

While it might take more time, most people can set up a system that comfortably gets them there by the age of 54. If they are following my plan, people can see the results as early as three years. By year 17, they would either be millionaires or close.

It’s ultimately better than never starting at all. Be bold and set your SMART+ER goals.

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