Doug and Amberly explore the intriguing reasons why many millionaires consider themselves middle class. They discuss the technical definitions of financial classes vs. the challenging societal definitions of these same classes, how both of these relate to their own views, and the psychology of wealth & self-perception among financially successful individuals.
Save 50% site-wide on your new mattress, pillow, and bedding over at GhostBed (coupon code: MILEHIGHFI)
Still confused by all these definitions of middle class? If so, help us fund our own surveys & research by heading over to Buy Me A Coffee
Links
—
Join the Mile High FI Club – It’s our email list!
Get MHFi Merch – It helps support the show. Get t-shirts & more
**Disclaimer: The podcast is for informational purposes. Maybe entertainment but we won’t even make such a claim. You shouldn’t take the info as financial, legal, or tax advice. We aren’t certified financial planners or advisors. We’re not qualified for much. So get advice from professionals.**
Brought To You By:
The Doug Show, aka Affiliate Marketing & Side Hustles
1500 Days, Carl’s Blog about Early Retirement
Email us here: [email protected] or [email protected]
0:00 Introduction
3:26 Millionaire net worth profiles
7:54 Interpreting survey results
13:41 Defining classes by income
24:07 Defining classes by net worth
30:27 The shrinking middle class
37:40 Why millionaires feel middle class
46:50 Millionaires’ mindset & class identity
55:53 Comparison is the thief of joy
1:01:22 Rich or wealthy
1:07:45 Amberly’s podcast, “Jump In Feet First”
1:16:06 Soundcheck – Catching up
Doug and Carl answer questions from listeners. To submit your own question, send a note to Doug ([email protected]) or Carl ([email protected]). Rakesh asks about...
Doug chats with early retirees Jolene & Darren about their path to financial independence and early retirement. The couple shares their experience from 20-year...
We talk about F.U. money, why it might make you better at your job, and the power of having enough money to leave a...