Back at it with another #millionairemonday!
Today, we are meeting Cory and Treslyn Roberts from Thirty Something Millionaire. Their goal is show anyone how they can get on the road to be a Thirty-something millionaire, or an any-age millionaire!
We are passionate about personal finance and maximizing experiences in our lives. This focus on maximizing life experience seems to be rare in the personal finance space. We both work in corporate finance for large companies. Our jobs are centered around financial planning, financial analysis, reporting on company performance, and providing strategic input to help our companies grow and remain profitable.
We both work a lot, so we adopt the mindset of work hard, play hard. Outside of working hours, our time is further restricted by managing a rental property through Airbnb and working on our business, Thirty Something Millionaire.
With all of that going on, we make it a priority to travel and take a lot of mini-vacations. We love exploring the mountains of Colorado, skiing, mountain biking, golfing, and traveling as much as possible. We are avid Formula 1 fans and try to travel to one race each year. Our next planned destination is attending a race in Japan, then touring the country!
When will you hit millionaire status? And how are you getting there?
We are planning it hit the millionaire milestone in less than two years at 33 years old for Cory, 32 years old for Treslyn. Just 695 days away...but who is counting!? Our investment strategy is pretty simple. We max out the gross contribution allowed by the IRS into retirement accounts and invest those assets into target funds that assess risk based on our age. Since age 65 is pretty far in the future for us, we are in higher-risk retirement investments. We track all our returns against the S&P 500 and as long as we are in the ballpark of those returns, we let it ride. Additionally, we both max out other company incentives like stock purchase programs.
A few years ago, we diversified our investment portfolio by purchasing a rental property in Silverthorne, Colorado. We rent out our condo through Airbnb for additional income and then block days for personal use. Apart from traditional investments like these, we have a 15-year loan on our personal house and are aggressively paying it off. We don't believe in any get-rich-quick schemes or any "creative" investing. We invest long-term through low costs instruments and dollar-cost averaging.
We don't believe in any get-rich-quick schemes or any "creative" investing. We invest long-term through low costs instruments and dollar-cost averaging.
If you could share a lesson or advice with others who are looking to achieve millionaire status, what would it be?
Achieving millionaire status is more about changing habits and behaviors than most people would think. The first steps you should take to start on the path to becoming a millionaire are:
Do not care what other people think about you.
Eliminate wasteful spending that doesn't add value to your life.
Get creative in how you approach your passions in life so they cost you the least amount of money possible.
After you commit to making these initial changes, you need to build a spending road map (aka a budget) around your new lifestyle and stick to it.
Finally, read our book (coming November 6th!) to help you understand how a balance sheet works and how to tweak all your investing activities towards accumulating wealth. Once you learn how to create wealth, get out there and hustle!
What kind of person would have been be a good role model when you were starting on your journey to $1M?
A role model would have been humble and understated. No need for flashy clothes or accessories because they are confident about the net worth on their balance sheet. This role model would talk about all the incredible experiences they have had so far in life and also tell you how they did all this for as little money as possible. We often use the word “scrappy” to talk about our ideals around money. A role model to us would for sure be scrappy. In talking about role models, it is important to mention the importance of surrounding yourself with successful people at a young age.
You know the saying, “You are the average of the 5 people you hang out with?” It’s the truth. Surround yourself with people you want to become and only listen to those with a proven track record.
Anything else you'd like to share?
It's important to save money but it is also important to live your life. We don't believe in restricting your life and waiting for retirement to enjoy the "fruits of your labor." You need to love the life you live today, but you also need to focus on preparing for the future. A laser focus on value spending, only purchasing things that add value to your life, and investing the rest is our chosen route. When you are creative in how you approach the things that add value to your life, you will be amazed at how far you can stretch a dollar!
It's important to save money but it is also important to live your life.
Do YOU want to be featured on a #millionairemonday?
Drop me a line: lindsay[at]mindmoneybalance[dot]com