**Update on Millionaire Journey: A Three-Year Reflection**
It has been three years since the first millionaire interview with Millionaire #302, and today we explore the changes that have occurred, shining a light on family dynamics, financial advancement, and lifestyle modifications.
**Overview:**
– The couple, now settled in Southern California, comprises the husband (46), his wife (44), and their three children: twin boys (11) and a daughter (9). They moved from Colorado following a catastrophic wildfire and are participating in a homeschool charter program.
**Net Worth Progress:**
– Their current net worth is $5.7 million, reflecting a $1.5 million increase since the previous interview. Although they utilized cash for a new home down payment, they have maintained their financial growth through steady savings and a thriving market.
**Earnings:**
– The husband occupies a Sr. Director position in a tech firm, with an annual income of about $650k, which includes $550k from W2 earnings and $100k from rental income. The transition from Colorado to California has been significant both financially and emotionally, but it has also afforded them greater resources for their children and interests.
**Spending and Savings:**
– Yearly expenditure has grown from $80k to $140k, driven by travel, increased living expenses, and a deliberate emphasis on family experiences. The couple prioritizes creating memories and bonding with their children over merely saving money.
**Investment Strategy:**
– Their strategy remains focused on low-cost index funds and ETFs, steering clear of high-risk ventures that could cut into personal and family time.
**Future Plans:**
– Considering early retirement, the husband aspires to dedicate more time to family, reinforcing his marriage and crafting enduring memories with his children. Their financial objective is to manage investments that ensure a steady income without diminishing the principal.
**Advice:**
– Millionaire #302 highlights the significance of embracing the “boring middle” of the journey, advocating for proactive financial practices, lifelong learning, and investing in relationships at all phases of life. He emphasizes the need to balance saving with creating meaningful experiences and cherishing time spent with family and loved ones.