10 Subtle Signs That Scream 'Quiet Millionaire'

About this episode:
Believe it or not, millionaires usually aren’t the flashiest people in the room. In this episode, you’ll learn the subtle signs of the stealthy wealthy and why we need these quiet millionaire role models.

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[greekmom]

My outlook on money changed when I realized someone making $300, 000 can retire broke & someone making $80, 000 can retire a multi-millionaire. Living within your means and living a frugal lifestyle is the first step to financial independence. I just hit the one million mark last year, cheers to everyone striving to get there someday.

[shellylofgren]

Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Instead of trying to predict and prognosticate the stability of the market and precisely when the change is going to happen, a better strategy is simply having a portfolio that’s well prepared for any eventually, that’s how some folks' been averaging 150K every 7week these past 4months according to Bloomberg.

[tonysilke]

Taking early notes from Warren as to the importance of sound asset diversification and risk management It can’t be overstated. I’ve been trying to grow my portfolio of $300K for sometime now, I would greatly appreciate any other suggestions.

[Nerdificationing]

1. Digital ghosts
2. Filter out media
3. Seek wise counsel
4. Financial literacy
5. Quiet confidence
6. Have an intentional spending plan
7. Freedom is their personality
8. Love the simple life
9. Work is fun
10. Generous

[callmemanny]

The digital ghost part is HUGE! The people closest to me who are millionaires are not only ghosts on social media but don’t even consume it. It’s mind-blowing.

[chrisdavis]

My parents are worth somewhere between 5 and 10 million (earned long after I moved out!) This list is spot on. They are insanely generous, live modestly (in the same 1, 200 square foot house they've owned for more than 50 years), and my 80 year old dad still works full-time. Why? Because he loves it.

[meandshe]

Here's another tip to keep your money: do things for yourself that would cost money for others to do for you. The list includes making your own coffee, cutting your own lawn, fixing when possible and maintaining your autos, painting, anything you do for yourself is money saved even if it's planting a flower. The feelings of accomplishment will be yours.

[BINDERANDREAULRIKE]

I'm in my 50s and I'm more interested in investments that could set me up for retirement, I mean I've heard of people that netted hundreds of thousands during these crash, I listened to someone on a podcast who earned over $650K in less than a year, what's the strategy behind such returns?

[desimo]

When you see someone who has really old stuff, but it all seems to look and work like brand new, there's a good chance you've run into a quiet millionaire. With millionaires, the mindset is long term. Far cheaper to maintain your current stuff than to just replace it every few years with new stuff (which is what the masses do).

[douglasbrinkman]

The first rule of Quiet MillionaireClub is you don’t talk about it.

[ericmendels]

This is just the type of life I want to live. I read of Ronald Reed, the janitor who invested up to 8 million picking high quality stocks and investments. I have about 180k I want to start with, but I'm not good at reading all those investment analyses and all. Any recommendations?

[marcoprolo]

I am a quiet millionaire, and I would never ask advice from a financial advisor. A lawyer maybe, a tax specialist absolutly. But a financial "advisor" ? Na. The guy is just trying to sell you a product to get a cut.

[pnwflipper]

The quiet millionaires I know personally have a few tells in common: New Balance sneakers, $9 golf shirts and shorts from Costco, eating out almost never (but when they do they pay for everyone), very nice houses (but the decor never changes it just the same timeless rich people decor for 30 years), homemade spreadsheets they use to track their wealth, and stay-at-home wives who handle their personal lives for them almost entirely.

[fjtsbtz]

2 observations of people who are quiet millionaires - Relationships. They don't get hooked up with partners who will drag them down. They make good decisions in their personal relationships and as partners they are generally on the same page when it comes to saving and investing for the long term. Another is having good basic math skills. This may go with Financial Literacy. Understanding things such percentages, interest and compounding goes a long way toward building wealth.

[DonatellaVersace]

The rising interest rate can surely control inflation, but won't prevent erosion of the eroding purchasing power of the US dollar. I have learnt my lesson this time. The banks can't be making money off my money, while inflation eats into it. I have set aside 650k to invest in the stock market now, since that keeps up with inflation, but I don't know how to get started.

[mapmike]

When my wife and I refinanced during the pandemic we were qualified for a $1M home. We are perfectly fine in our $280K home we bought just before Covid. We don't feel the need to keep up with the jone's based on our incomes. More interested in experiences with our daughter and financial freedom than a big house and new cars. I won't deny that we are fortunate enough to have good paying jobs and to have bought a home pre pandemic. It's incredibly tough out there now for those who want to buy.

[yourhollywooddream]

Yes, wealth building is a long game! It’s very hard to get most people to embrace this and act accordingly

[VictorB.Henrickson]

My husband and I were fortunate enough to be able to pay off our mortgage early. We were both still working, and took the payment amount that we had been using to pay off our mortgage faster and we put it straight into investments. We were able to retire early because of almost 7 years of putting away what would have been our mortgage payment as well as maxing out our 401K/403B plans. Thankfully we were taught by both of our parents the value of living within our means. Thank you for your advice. I know it will help people. we are interested in investments that could set me up for retirement, I mean I've heard of people that netted hundreds of thousands during these crash, I listened to someone on a podcast who earned over $650K in less than a year, what's the strategy behind such returns?

[frannellymercedesynfante]

I swear George is by far my favorite Ramsey Personality! All his videos make me laugh so hard 😂 while learning about money

I LOVE YOU GEORGE! 😂😂

[bigcahuna]

I remember when I was on an Amish tour near Lancaster, PA, our tour guide said that 10% of all Amish families were millionaires. They are labeled as "quiet millionaires" because they don't worship the god of materialism, but are extremely self sufficient.