A retired military man with $1 million saved was told to live on $30,000 a year in California. He invested in duplexes, apartment buildings, and oil instead, boosting his income to $13,000 a month. He died four years later at 64, but had the financial freedom he wanted first.
Questions this video answers
60 years old.
$1,000,000.
3% per year (implied ~$30,000/year).
About $13,000 per month.
64 years old; died of a heart attack.
His dad was 60 years old, retired from the military, had a million dollars in retirement account, and his financial advisor says, good, well, now you're 60 years old, you can now live on 3% a year. So he's like, Wait, 30,000 a year? I live in California. No one can live on 30,000 a year. Homeless people barely live on 30,000 a year. Come on.
Oh, yeah. I think I just read you need to be middle class. You need, like, 175k a year in California on average. I mean, it's something that effect. Yeah, it's.
Off the charts with him. He heard my podcast, you know, and says, hey, I want to figure out how to do this. So we started figuring out what to do with his money and strategize with it, and he bought a couple duplexes, and then he did apartment syndication. Then he did some things with, like, oil and gas. And the next thing you know, the second time he came on our podcast, you know, a year later, he's like, yeah, like, I actually got up to, like, 13,000amonth, you know, like, well over a hundred thousand a year versus 30,000 a year. And I'm grateful for that because for four years, he was free. And then, of course, he just. 64 years old, you know, died of a heart attack just randomly on his desk on a Monday evening, you know, and left his wife and his kids behind, and. But I'm grateful that he bought that time. Freedom back, that he had that time he was able to do what he loved.
