Transparent Personal Finances of 100 Millionaires

Remember when Andrew Carnegie wrote that he was removing the pursuit of money from his life? Probably not, because he didn’t follow through on it. This was even before he founded the Carnegie Steel Corporation and became one of the richest people in the world. Today’s guest, however, also decided to cut himself off from earning more. And he followed through. By the time Jeff was in his forties, he was worth over $120 million. After a three-part exit from his company, Jeff decided that pursuing more money was getting in the way of his pursuit of happiness. So he quit building companies, he quit working, and he founded a support group of others in similar life stages. For Jeff, chasing money had become like an addiction, so he treated it that way. He made big changes in his life to focus on what truly made him happy. But, this “cut-off” from earning more does not coincide with spending less. In fact… it’s quite the opposite. In this episode of Moneywise, we'll learn about how Jeff realized he had enough, how his pursuit of more was getting in the way of enjoying what he built, and why he thinks it's his duty to spend his money. And of course, we'll also get into all the details about how much he has, where all that money is, and how he spends it. This is Moneywise, a podcast where host Sam Parr is joined by high-net-worth guests to explore exclusive insights into personal finance and lifestyle tailored for other high-net-worth people, or those on their way. They'll get radically transparent about the numbers, revealing things like their burn rates, portfolios, and spending habits. Who is Sam Parr? Sam is a serial entrepreneur and the co-founder of The Hustle, which he sold to HubSpot in 2021. He's also the co-host of one of the world's top podcasts for entrepreneurs, My First Million. Known for his insightful business acumen and candid communication style, Sam Parr continues to be a prominent figure in the world of media and entrepreneurship. Sam's newest and biggest venture yet is Hampton, which he co-founded in 2022. This podcast was made for the Hampton community, a private, highly-vetted, peer membership community for founders and CEOs of fast-growing, tech-enabled startups. Chapters: Jeff’s first few million (3:21) When he started the big company (5:58) His three-part exit (9:51) How his life changed (11:27) Why he started to think about cutting himself off (16:13) How he changed his life (20:12) Where is his money and his spending today (24:22) Reflection and advice (29:54) This podcast was produced in partnership with Lower Street and distributed by Morning Brew. Learn more about your ad choices. Visit megaphone.fm/adchoices

This is not a normal episode, this is better. We’ve heard how much Moneywise listeners love the transparency we get from our guests, so we’ve gone a step further. We sent out a survey to all Hampton members and got hundreds of responses detailing things like how much money they have, how they spend it, what their family situation is, if they have debt and how much, etc. etc. etc.  And we’re giving all of this information away for free at joinhampton.com/wealth. Sam explains more. Learn more about your ad choices. Visit megaphone.fm/adchoices

Last year, Mike Beckham donated 1 million dollars.  This year, he's setting his sights even higher. He wants to give away 50% of his annual income. And that's not all—his company, Simple Modern, with a valuation of around 350 million dollars, also allocates 10% of its profits each year to charitable causes. Mike's journey to philanthropy has been shaped by a deep-rooted commitment to making a difference. Despite starting his career in the nonprofit sector, he discovered his knack for business growth and decided to leverage his skills to amplify his impact. So he left the nonprofit world and built Simple Modern. For Mike, donating his money is about more than just creating a positive impact in the world (although that is a big part). Mike has found that donating his money helps him refrain from spending that doesn’t bring happiness to his life, and allows him to have more success in the most important part of his life: his relationships with others.  In this episode of Moneywise, Mike will explain all of the benefits of donating. He’ll make the personal and financial cases, including how it’s helped his business succeed. He’ll also give tips on donating effectively, especially if you’re just starting. And as usual, Mike will explain how he made all his money, how he spends it, and give us all the dollar details. This is Moneywise, a podcast where host Sam Parr is joined by high-net-worth guests to explore exclusive insights into personal finance and lifestyle tailored for other high-net-worth people, or those on their way. They'll get radically transparent about the numbers, revealing things like their burn rates, portfolios, and spending habits. Who is Sam Parr? Sam is a serial entrepreneur and the co-founder of The Hustle, which he sold to HubSpot in 2021. He's also the co-host of one of the world's top podcasts for entrepreneurs, My First Million. Known for his insightful business acumen and candid communication style, Sam Parr continues to be a prominent figure in the world of media and entrepreneurship. Sam's newest and biggest venture yet is Hampton, which he co-founded in 2022. This podcast was made for the Hampton community, a private, highly-vetted, peer membership community for founders and CEOs of fast-growing, tech-enabled startups. Chapters: His start in the profit world (3:41) When and why he switched to business (6:46) Why he’s not interested in spending on himself (14:13) Why he gives so much (18:03) How much he donates (22:18) The benefits of giving (24:043) Advice on how to start (35:24) This podcast was produced in partnership with Lower Street and distributed by Morning Brew. Learn more about your ad choices. Visit megaphone.fm/adchoices

Being born rich sounds like a dream, but it’s almost like being born at the finish line, with no race left to run. If we’ve learned anything in this podcast so far, it’s that money alone doesn’t bring happiness. Life needs purpose. But when you already have access to everything you could possibly need, finding that purpose can be difficult. So, how do we ensure our children inherit not just wealth, but also the drive to make something meaningful out of their lives? How do we shield them from the pitfalls of affluence, like aimlessness and substance abuse? Taylor Adams has dedicated his life to helping parents successfully pass on their wealth to the next generation with his company Belief Partners. He believes that a large part of happiness comes from the act of adding value to the world around you, feeling like you matter. He works to empower parents to instill in their children the importance of adding value to the world, of feeling like they matter beyond their bank accounts Taylor knows the feeling of being aimless all too well. Born into a multi-generational billionaire family, he himself has experienced the luxury, pressure, and burden of wealth.  In this episode, Taylor bares all, offering his personal narrative alongside professional research and strategies for navigating the complexities of inherited wealth. From finding purpose to avoiding the traps of excess, Taylor equips affluent parents with the tools they need to raise grounded, fulfilled individuals. Alongside Taylor, we’ll also hear from Jane. In contrast to Taylor’s strong recommendation to set up a trust for your kids, Jane’s parents paid for necessities through her life, but will pass on their wealth through a lump sum inheritance of roughly $20 million. She’ll tell us how their wealth impacted her life, how she found purpose in her own career and family, and how the knowledge of inheritance has affected her. This is Moneywise, a podcast where host Sam Parr is joined by high-net-worth guests to explore exclusive insights into personal finance and lifestyle tailored for other high-net-worth people, or those on their way. They'll get radically transparent about the numbers, revealing things like their burn rates, portfolios, and spending habits. Who is Sam Parr? Sam is a serial entrepreneur and the co-founder of The Hustle, which he sold to HubSpot in 2021. He's also the co-host of one of the world's top podcasts for entrepreneurs, My First Million. Known for his insightful business acumen and candid communication style, Sam Parr continues to be a prominent figure in the world of media and entrepreneurship. Sam's newest and biggest venture yet is Hampton, which he co-founded in 2022. This podcast was made for the Hampton community, a private, highly-vetted, peer membership community for founders and CEOs of fast-growing, tech-enabled startups. Chapters: Taylor’s billionaire family (2:48) Why and when he got sober (6:23) Why you should invest your money in your kids (7:29) Helping your kids find their own value (13:03) The importance of being the example (15:40) The argument for trusts (22:09) Why Jane’s family didn’t set up a trust (24:27) Teaching your kids to fail (26:12) “Yes, and..” (29:29) Talking to your kids about your wealth (33:35) The Four Horsemen of Destruction (38:18) This podcast was produced in partnership with Lower Street and distributed by Morning Brew. Learn more about your ad choices. Visit megaphone.fm/adchoices

If you’re already living the lifestyle you want, what is the point of liquid assets? Is there too much risk in tying up the vast majority of your assets? And more importantly, if you already have far more money than you’ll ever need, what is the purpose in continuing to invest for the future when you could be enjoying that money in the present? “Dave” is worth about $150 million, yet he lives on a $600,000 salary that doesn’t even cover his monthly spend. Instead of using his existing wealth, he’s keeping most of it tied up in private businesses, angel investments, crypto, real estate, and a very small public portfolio. But why? “Dave” is in the early stages of an experiment where he massively over invests in himself, just to see what he can do. That also includes hiring a personal team so he doesn’t have to lift a finger with home chores.  In this episode, “Dave” will walk us through why he’s living this way, how it impacts how he can spend his money, and we’ll get a detailed breakdown of exactly where all of his money is and how much he has access to. He’ll also tell us about his experiment: why he’s running it, what it actually looks like, and how it’s working out. This is Moneywise, a podcast where host Sam Parr is joined by high-net-worth guests to explore exclusive insights into personal finance and lifestyle tailored for other high-net-worth people, or those on their way. They'll get radically transparent about the numbers, revealing things like their burn rates, portfolios, and spending habits Who is Sam Parr? Sam is a serial entrepreneur and the co-founder of The Hustle, which he sold to HubSpot in 2021. He's also the co-host of one of the world's top podcasts for entrepreneurs, My First Million. Known for his insightful business acumen and candid communication style, Sam Parr continues to be a prominent figure in the world of media and entrepreneurship. Sam's newest and biggest venture yet is Hampton, which he co-founded in 2022. This podcast was made for the Hampton community, a private, highly-vetted, peer membership community for founders and CEOs of fast-growing, tech-enabled startups. Chapters: Dave’s childhood family finances (2:39) How Dave made his money (4:36) How much Dave has in liquid vs illiquid assets (7:11) Dave’s journey to finding confidence (12:22) Dave’s assets breakdown (17:31) What Dave’s current income his (20:14) How he is investing in himself (21:59) This podcast was produced in partnership with Lower Street and distributed by Morning Brew. Learn more about your ad choices. Visit megaphone.fm/adchoices

If you have the money to put anything you could possibly want in your home, should you do it? This episode’s guest, “Hank” did, and as a result, his home ended up being 24,000 square feet. But with 24,000 square feet, there is a lot to go wrong. So are the upkeep, repairs, and bills worth the square footage? Can a home with all the fancy features you can imagine actually bring more joy to your life? Building (or buying) a house this size is no small feat, and there are numerous things to consider before pulling the trigger, such as your stage in life, your family situation, and how much you enjoy your free time. In this episode we explore the mega house. We’ll learn about who this type of home is for, the pros, the cons, and all the caveats to be aware of. And this is Moneywise, so we’ll get into all the nitty gritty numbers to learn how “Hank” can afford a home this massive and all of the expenses associated with it. He’ll also share if he ever plans on moving. We even speak with Ryan Thewes, an architect who designs private residences in the Nashville area. He shares the most commonly requested features, the type of clients he typically gets, and the coolest things he’s ever designed. And we have him answer the question: Would you ever move into one of these mega mansions yourself? By the end of the episode, if you are convinced that a mega mansion is right for you, we’ll leave you with some advice on how you should go about making your dream home a reality. This is Moneywise, a podcast where host Sam Parr is joined by high-net-worth guests to explore exclusive insights into personal finance and lifestyle tailored for other high-net-worth people, or those on their way. They'll get radically transparent about the numbers, revealing things like their burn rates, portfolios, and spending habits. Who is Sam Parr? Sam is a serial entrepreneur and the co-founder of The Hustle, which he sold to HubSpot in 2021. He's also the co-host of one of the world's top podcasts for entrepreneurs, My First Million. Known for his insightful business acumen and candid communication style, Sam Parr continues to be a prominent figure in the world of media and entrepreneurship. Sam's newest and biggest venture yet is Hampton, which he co-founded in 2022. This podcast was made for the Hampton community, a private, highly-vetted, peer membership community for founders and CEOs of fast-growing, tech-enabled startups. Chapters: How Hank made his money (3:05) How Hank ended up in a mega mansion (5:02) Building costs (7:47) Hank’s house’s coolest features (14:08) The coolest features Ryan has designed (17:14) Who this kind of house is best for (18:26) Advice for prospective mega mansion owners (28:47) This podcast was produced in partnership with Lower Street and distributed by Morning Brew. Learn more about your ad choices. Visit megaphone.fm/adchoices

The point of money is to make life easier. To give you security, comfort, and the ability to do the things that make you happy. So if you’ve made enough to take care of that for life, you can just stop making more… right? Retiring early is a dream for many, but what happens when you actually do it? In this episode we explore the story of two guests who did just that, though they came about it in different ways. Our first guest, “Ryan”, made over $20 million after selling his business, then decided to step away from working and enjoy his money. “Jeff” however, made his money in a series of smaller sales and soon realized he had accumulated enough where his investments outperformed his work income. Since retiring, both “Ryan” and “Jeff” have gone through similar stages of appreciation, loss, and rediscovering purpose in their lives.  In this episode, we explore the ups and downs of retiring early, how much money they have that allows them to live off their investments and what they do with it. They’ll tell us about the external pressure to start something new, how they dealt with the feelings of loss, and what they do with their time now. Check out Ryan’s blog After The Exit. This is Moneywise, a podcast where host Sam Parr is joined by high-net-worth guests to explore exclusive insights into personal finance and lifestyle tailored for other high-net-worth people, or those on their way. They'll get radically transparent about the numbers, revealing things like their burn rates, portfolios, and spending habits. Who is Sam Parr? Sam is a serial entrepreneur and the co-founder of The Hustle, which he sold to HubSpot in 2021. He's also the co-host of one of the world's top podcasts for entrepreneurs, My First Million. Known for his insightful business acumen and candid communication style, Sam Parr continues to be a prominent figure in the world of media and entrepreneurship. Sam's newest and biggest venture yet is Hampton, which he co-founded in 2022. This podcast was made for the Hampton community, a private, highly-vetted, peer membership community for founders and CEOs of fast-growing, tech-enabled startups. Chapters: How Ryan and Jeff made their money (3:30) Why they decided to step away (8:13) The feeling of loss (11:25) Facing the “what’s next” pressure (16:50) The importance of finding a new passion (18:45) Ryan’s take on financial advisors (21:50) Stock market anxiety (26:25) Will they go back to work in the future? (30:19) This podcast was produced in partnership with Lower Street and distributed by Morning Brew. Learn more about your ad choices. Visit megaphone.fm/adchoices

Imagine being worth $150 million. Liquid.  Now imagine being worth that much, and only spending $5,000 a month. That’s the reality for this episode’s guest. “Cam” is going to share a lot of financial details with us, so he’s asked to remain anonymous. What we can tell you, is that he made most of his money when a business he started went public at a valuation of around a billion dollars. That happened in his late 30s.  In his early 30s, Cam was still only worth a couple grand. There’re a lot of crazy stories in between that we’ll hear about in this episode. Including how his first million was almost accidental. We’ll also explore why Cam’s monthly spend is so low, how his value of privacy and the impact money has on relationships plays into that, and where that $5k goes every month. On top of that, we’ll get into the nitty gritty about how he’s saving and investing the rest of his money, as well as the kind of spending that brings Cam genuine joy. This is Moneywise, a podcast where host Sam Parr is joined by high-net-worth guests to explore exclusive insights into personal finance and lifestyle tailored for other high-net-worth people, or those on their way. They'll get radically transparent about the numbers, revealing things like their burn rates, portfolios, and spending habits. Who is Sam Parr? Sam is a serial entrepreneur and the co-founder of The Hustle, which he sold to HubSpot in 2021. He's also the co-host of one of the world's top podcasts for entrepreneurs, My First Million. Known for his insightful business acumen and candid communication style, Sam Parr continues to be a prominent figure in the world of media and entrepreneurship. Sam's newest and biggest venture yet is Hampton, which he co-founded in 2022. This podcast was made for the Hampton community, a private, highly-vetted, peer membership community for founders and CEOs of fast-growing, tech-enabled startups. Chapters: Cam’s early family life (2:28) Moving to LA and “city camping” (4:23) Pissing off casting companies (6:14) His accidental first million (8:37) Net worth timeline breakdown and investments (10:04) Why he doesn’t tell his family or friends his net worth (20:09) Cam’s favorite way to spend his money (28:04) The story of his dog (34:03) Making his money later in life (36:44) This podcast was produced in partnership with Lower Street and distributed by Morning Brew. Learn more about your ad choices. Visit megaphone.fm/adchoices

There was a time when Neil Patel said a $15k/month burn rate was all he needed. But now his monthly burn is $200k. Roughly. He’s not completely certain… because he doesn’t budget. So what changed in his life to make his burn rate increase nearly 14 fold? That’s what this episode is going to find out. Neil Patel is a household name (for marketers). He’s an entrepreneur and blogger known for his expertise in digital marketing and SEO. He co-founded companies like Crazy Egg, Hello Bar, and KISSmetrics, but his biggest company is his namesake, Neil Patel Digital. In this episode, Neil not only explains how and why his spending has evolved to the point where he’s burning $2.4 million a year, he’ll also break down where that money is going, how it compares to his income, investments, and savings, and why he doesn’t feel the need to set a budget.  He’ll also get candid about how he uses his money to bring joy to his life, and he’ll share how soon he plans on being a billionaire. This is MoneyWise, a podcast where host Sam Parr is joined by high-net-worth guests to explore exclusive insights into personal finance and lifestyle tailored for other high-net-worth people, or those on their way. They'll get radically transparent about the numbers, revealing things like their burn rates, portfolios, and spending habits. Who is Sam Parr? Sam is a serial entrepreneur and the co-founder of The Hustle, which he sold to HubSpot in 2021. He's also the co-host of one of the world's top podcasts for entrepreneurs, My First Million. Known for his insightful business acumen and candid communication style, Sam Parr continues to be a prominent figure in the world of media and entrepreneurship. Sam's newest and biggest venture yet is Hampton, which he co-founded in 2022. This podcast was made for the Hampton community, a private, highly-vetted, peer membership community for founders and CEOs of fast-growing, tech-enabled startups. Chapters: How rich Neil actually is and how he made it (1:58) When he said $15k/month was enough (4:12) What changed (6:34) Extravagant living in Las Vegas (7:57) How he spends his money quickfire (10:51) Why he doesn’t budget (14:40) How kids changed his spending (18:22) What he won’t give up (20:12) Neil’s friends that spend more (23:44) What a $50k/month budget would look like (26:39) His billionaire goal (27:56) This podcast was produced in partnership with Lower Street and distributed by Morning Brew. Learn more about your ad choices. Visit megaphone.fm/adchoices

How much money do you need to be happy? Money alone is not going to make you a happy person, but it can sure as hell help you get there. Money can buy you security, time, health, and safety for you and your loved ones, and it can relieve stress when it comes to life's financial pressures. To say that money can't impact your happiness is naive. But what we want to know is, when is enough, enough? If you don't know that number, you can easily slip into the hole of always needing and wanting more, which inevitably takes away from your happiness. At a certain point, you start wasting your time and adding stress to your life in the never-ending pursuit of more. So what is the threshold when it's time to end the chase and simply enjoy the life you've built for yourself? In this episode, Ankur Nagpal shared his number. Ankur Nagpal is in his early thirties with a net worth north of nine figures. He started raking in money in college with his Facebook App business, but his real life-changing moment was when he sold his company Teachable for a quarter billion dollars. Now, he's the founder of fintech company Carry, formerly known as Ocho. Ankur will tell us about the financial decisions he made that contributed to his happiness, the mistakes he made, and he's radically transparent about the numbers while he does so. Sam will also share his own "happiness threshold" number, and we'll also get input from another guy who rakes in over $10 million a year. Do you want more of the show? Fill out our survey! This is MoneyWise, a podcast where host Sam Parr is joined by high-net-worth guests to explore exclusive insights into personal finance and lifestyle tailored for other high-net-worth people, or those on their way. They'll get radically transparent about the numbers, revealing things like their burn rates, portfolios, and spending habits. Who is Sam Parr? Sam is a serial entrepreneur and the co-founder of The Hustle, which he sold to HubSpot in 2021. He's also the co-host of one of the world's top podcasts for entrepreneurs, My First Million. Known for his insightful business acumen and candid communication style, Sam Parr continues to be a prominent figure in the world of media and entrepreneurship. Sam's newest and biggest venture yet is Hampton, which he co-founded in 2022. This podcast was made for the Hampton community, a private, highly-vetted, peer membership community for founders and CEOs of fast-growing, tech-enabled startups. Chapters: Who is Ankur Nagpal (1:06) Why we're asking "When is enough, enough?" (3:41) Ankur's first multimillion-dollar venture (5:11) How he built and sold Teachable (7:07) How his life changed after selling Teachable (10:02) Ankur's burn rate after a $40 million check (14:27) Why not working didn't make him happy (14:54) Ankur's cost of living (17:05) Ankur's "Happiness Threshold" number (21:04) Sam's "Happiness Threshold" number and closing thoughts (23:29) This podcast was produced in partnership with Lower Street. Learn more about your ad choices. Visit megaphone.fm/adchoices