# Millionaire Interview: Insights on Wealth Creation and Financial Stability
In our endeavor to explore the path to wealth, we present another compelling dialogue—this time with a millionaire who has dedicated many years to achieving financial freedom while remaining connected to family, faith, and purpose.
If you wish to share your personal journey, feel free to [send me a message](https://esimoney.com/contact/) and we can go over the specifics. Here’s a conversation with someone who has not only attained millionaire status but is now reshaping their career for greater personal satisfaction. This interview occurred in June 2024.
Let’s explore the key points discussed, where our questions are highlighted in bold italics, and the responses from the interviewee are in black.
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## **Overview**
### **_How old are you (and your spouse if relevant, plus how long you’ve been married)?_**
I am 56 years old and my wife is 57. We have been happily married for 34 years. We first met in high school and got married shortly after completing college.
### **_Do you have any children or family?_**
We have three wonderful daughters, aged 19, 25, and 27. Our two older daughters are well-established in their careers, and the youngest is just starting her college journey. Moreover, our eldest daughter is married, and we are excitedly anticipating the arrival of our first grandchild.
### **_Where do you reside?_**
We live in a suburban area in the Midwest, although I commute to a job in a bustling downtown setting.
### **_What is your current net worth?_**
Our current net worth is around **$6.8 million.**
### **_What assets constitute your net worth?_**
Our asset breakdown is as follows:
– **Cash:** $1,400K
– **Brokerage Account Investments:** $840K
– **529 Plans:** $250K
– **HSA:** $170K
– **Retirement Accounts (401k, IRA, etc.):** $2,300K
– **Real Estate (primary residence and lake house):** $900K
– **Family-owned land interest:** $1,000K
Our family holds no debt, having paid off the mortgage in 2009, and we exclusively use credit cards, which we settle monthly. Additionally, we manage two donor-advised funds (DAFs) valued at $750K to facilitate our charitable contributions.
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## **Earnings**
### **_What is your job title?_**
I serve as the Finance Director at a small financial services company, where I focus on budgeting, forecasting, and providing financial support for senior leadership. I’m excited to soon transition to a new role as CFO for a small Christian non-profit organization. While this position will offer a lower salary, I anticipate the challenges and fulfillment it will bring.
### **_What is your yearly income?_**
In this new role, my salary will be **$110,000 annually**. Previously, I earned **$195,000** along with a 50% bonus target, making this change somewhat daunting.
### **_What was your first job and how did your income change over time?_**
My initial full-time job had a salary of **$24,000** per year. I began as an analyst at a consulting firm before moving into IT and actuarial positions. Eventually, I acquired credentials as a full actuary. By 2015, my earnings had climbed to **$206,000** in a senior position, reflecting years of advancement in the corporate hierarchy.
### **_What advice do you have for increasing career-related income?_**
Along with hard work, grasping not just the duties of your own role but also those of higher positions can be quite advantageous. Independence and the ability to perform effectively without much oversight are crucial, as these traits demonstrate readiness for increased responsibility.
Being prepared to take on larger roles at home while your partner advances their career might not suit everyone, but it worked for us. My wife effectively handled home responsibilities, allowing me to concentrate on earning my actuarial qualifications and progressing in my career.
### **_How would you describe your work-life balance?_**
I’ve achieved a reasonable balance as an empty nester, though it’s not always flawless. For instance, during management tasks such as M&A deals, balance can be disrupted. I ensure I carve out time to enjoy family activities and relax. In my upcoming non-profit position, I’m prioritizing firm boundaries early on, which includes ensuring I utilize vacation days.
### **_Do you have any alternative income sources?_**
I don’t have any conventional side gigs, but I assist in managing a family estate, which primarily consists of real estate that has been gradually liquidated over the past ten years, yielding substantial financial returns.
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## **Savings**
### **_Annual Spending_**
At present, our yearly spending is around **$80