# Interview with a Millionaire: June 2024 Edition
In this enlightening conversation, we engaged with a millionaire who has accumulated their wealth through a mix of careful savings, consistent career advancement, and astute investments. We thoroughly explore their financial path to reveal insightful lessons and advice for those aiming for financial achievement.
## Overview
### **How old are you (and spouse if applicable, plus how long you’ve been married)?**
My wife and I are both 39, turning 40 soon. We’ve been married for 17 years as of June, but we have been together for nearly 24 years, having started our relationship in high school.
### **Do you have kids/family (if so, how old are they)?**
Yes, we have two children who are pre-teens, and they seem to be growing up way too quickly! Our household also includes some lively pets.
### **What area of the country do you live in (and urban or rural)?**
We reside on the East Coast in an area with a mid- to high-cost of living. However, we both grew up in a mid-cost-of-living area in the Midwest.
### **What is your current net worth?**
As of May 2024, our net worth is $1.58 million.
### **What are the main assets that make up your net worth, and any debt that offsets part of these?**
For clarity, here’s the breakdown:
– **Cash/Savings/Checking**: $95,000
– **Investments**: $975,000 (this includes 529s, HSAs, 401(k)s, IRAs, Roth IRAs, brokerage accounts, and a Fundrise account)
– **Home Equity**: $490,000, with only $10,000 left on our mortgage
– **Other Assets (Vehicles/Other)**: $20,000
## Earn
### **What is your job?**
I hold a position as a senior director in corporate finance at a private equity-managed organization. I lead a global team and assist C-Suite executives with financial execution. My wife mainly serves as a stay-at-home mom, but she also engages in several side hustles and has a paid position at our local church.
### **What is your annual income?**
Combined, our earnings are approximately $250,000 gross from our salaries, wages, and side endeavors, which includes $20,000 from side hustles. Additionally, I have the opportunity to earn variable pay, which generally contributes an extra $50,000 to $100,000 depending on my employer’s financial outcomes.
### **Tell us about your income progression over time. How did it evolve?**
I began with a 4-year degree from a state university and a master’s degree in accounting (I’m a certified public accountant, though I do not practice). My wife attended the same university but chose to pursue different interests.
Interestingly, I have been with the same company since graduation, progressively taking on more significant responsibilities. Here’s the year-by-year breakdown of my income growth:
– **Year 1**: $44,350
– **Year 2**: $45,500
– **Year 3**: $52,340
– **Year 4**: $54,790
– **Year 5**: $62,000
– **Year 6**: $88,000
– **Year 7**: $93,280
– **Year 8**: $110,754
– **Year 9**: $115,737
– **Year 10**: $131,768
– **Year 11**: $135,721
– **Year 12**: $154,500
– **Year 14**: $177,225
– **Year 15**: $182,541
– **Year 16**: $210,836
– **Year 17**: $230,000
My wife, on the other hand, advanced in service industry management, earning around $30,000 before deciding to focus primarily on being a stay-at-home mom.
### **What tips do you have for growing career-related income?**
Be open to remaining with your current company if you find yourself in a positive environment. Constantly switching jobs isn’t always the best path to increased earnings. Seek flexibility, growth potential, and colleagues you feel comfortable collaborating with. If you decide to leave a job, ensure you have strong reasons beyond simply financial ones.
Be proactive! Inquire, propose solutions, and grasp how your role influences the overall goals. Being a resourceful problem solver who enhances processes will make a significant impact.
Additionally, as you progress upward, remember to mentor and support your team’s growth. Achievements should be shared—don’t shy away from the possibility of someone exceeding your accomplishments.
### **What’s your work-life balance look like