Episode 124: The Everyday Millionaire with Chris Hogan

Updated Jun 02, 2020 | Chris Petrie

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My Guest on the Show…

Dave Ramsey personality Chris Hogan is coming on the show today to explain how the everyday normal guy can in fact become a millionaire.

Now, before you raise your eyebrow at me – let me be clear on what a millionaire is…

A millionaire does NOT mean you earn a million dollars per year.

Instead, Chris explains that a millionaire is simply someone who has a NET WORTH of a million dollars or more. This means if you take their assets (what they own) and subtract their liabilities (what the owe), these people would have a net worth of a million dollars.

Now with that said, let’s dive into what this episode…

With the help of the Dave Ramsey team, Chris studied over 10,000 people with a net worth of a million dollars or more to find out…

What they do for a living
Self made millionaires or inherited millionaires
How much money they make in a single year
Where they are investing their money
What age they become millionaires
What age they go completely debt free
What kinds of cars they drive
Their everyday spending habits
And their daily habits

To be honest – some of these will absolutely shock you – especially when you find out what some of these millionaires do for a living, how quickly they pay off their mortgage, and how much they spend going out to eat.

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Smart Money Academy

The Money Peach Podcast is brought to you by my live coaching program, Smart Money Academy.

Smart Money Academy is not an online course, but rather a live coaching program showing you how to budget, how much to save, how to manage your debt payoff, when to save for retirement, and how to build a legacy to last beyond your lifetime.

Mentioned in this Episode

The Everyday Millionaire by Chris Hogan

For Budgeting

Show Notes

The Millionaire Next Door book [4:50]

Myths about being a millionaire [6:47]

How much do millionaires save and invest? [8:30]

It’s not only realistic, it’s achievable! [10:40]

How to get started [16:07]

The average age of millionaires [18:23]

Being intentional [24:57]

Millionaire habits [26:12]

Chris Petrie

Chris (Peach) Petrie is a personal finance expert, money coach, speaker and podcaster.

In 2011, Chris and his family were exhausted from living paycheck-to-paycheck and facing a mountain of debt. They started going against the society standards of misbehaving with money and made the decision to take back control of their lives and money. Within seven months they paid off $52,000, started saving like crazy and began building real wealth.

The word spread fast and Chris started showing friends how to create a budget over dinner. Soon after he started showing their friends how to do the same and eventually Chris started teaching personal finance classes around the community. As the need for the classes grew, Chris launched Money Peach in 2015.

Money Peach was created to help everyday people remove the stress and fear of money by showing them how to save more, make more, and keep more of their money.

Chris Peach has been featured in places like Business Insider, The Huffington Post, Elite Daily, and CheddarTV.

When Chris isn’t at “work” he can be found at the Crossfit gym or riding on the fire truck — Chris is also a full-time firefighter in Phoenix, Arizona.