The $100 MBA Show

MBA1173 Guest Teacher: Chris Hogan- How to Become an Everyday Millionaire

Jan 7, 2019

Chris Hogan, a best-selling author and podcast host, debunks the common myths surrounding millionaires, revealing they're often just everyday people. He shares insights from extensive research, showing that most self-made millionaires don’t have high-paying jobs or inherit wealth. Hogan emphasizes the importance of intentionality in financial success through budgeting, saving, and proactive debt management. Listeners learn that significant wealth is achievable through structured financial decision-making and taking control of their financial futures.

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Episode guests

Chris Hogan

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Quick takeaways

Millionaires often stem from ordinary jobs rather than high earnings or wealth inheritance, highlighting the importance of financial planning and intentionality.

Developing a proactive financial plan and practicing debt repayment strategies can significantly enhance one's ability to accumulate wealth over time.

Deep dives

Myth-Busting Millionaire Misconceptions

The definition of what it means to be a millionaire is often skewed by popular misconceptions. A comprehensive study revealed that only 21% of millionaires received any inheritance, and merely 16% inherited over $100,000. Additionally, 1.3% of millionaires never reached a six-figure income in a single year, indicating that high earnings are not a prerequisite for wealth. Most millionaires hold ordinary jobs, including positions such as teachers and engineers, proving that intentionality and financial planning are key to building wealth rather than mere high salaries.

Intro

4min

Unveiling the Truth About Everyday Millionaires

3min

The Path to Becoming an Intentional Millionaire

2min

Empowering Financial Decision-Making for Wealth Building

5min

Taking Control of Your Financial Future

6min

What does a millionaire look like?

A trust-fund baby? A hedge-fund bro? Nope. As it turns out, millionaires aren’t the exotic species we think they are. Overwhelmingly, they’re not born into privilege. And shockingly, they don’t tend to have high-powered jobs.

Often, millionaires are regular people.

So how does Average Joe hit 7 figures? That’s what this week’s special guest teacher is here to tell us. Chris Hogan is a best-selling author and podcast host who specializes in debunking the myths around wealth. He has a practical, realistic approach to crushing debt and making the wise investments that turn regular people into “everyday millionaires.”

Hear Hogan’s down-to-Earth approach, and see how significant wealth is more attainable — and less exotic — than you might think. Click play at the top of the page!