The Examined Life How do you become a millionaire? [Sam Dogen]
12 snips
May 8, 2025 
Sam Dogen, founder of Financial Samurai and author of Millionaire Milestones, shares his journey from Wall Street to financial independence. He reveals the struggles of saving diligently and offers insights on real estate versus financial assets. The discussion highlights building generational wealth and navigating the complexities of personal finance, including the impact of the tech sector on real estate. Sam also addresses the importance of planning for long-term care as one approaches retirement, debunking myths on care needs.
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Financial Crisis Motivated Blogging
- Sam lost 40% of his $1.5 to 2 million portfolio during the 2008 financial crisis.
- This painful experience motivated him to start his blog, Financial Samurai, as a backup plan.
Save Till It Hurts
- Be intentional about why and how much wealth you want to build to stay focused.
- Save until it hurts, aiming to save at least 50% of your paycheck for financial freedom.
Homeownership Fixes Costs
- Owning your primary residence fixes most housing costs and provides asset appreciation.
- Renters are price takers vulnerable to inflation without forced savings benefits.