Moneywise $13M But Zero Cash: Why Net Worth Is a Lie
184 snips
Apr 15, 2025 
Mike Brown, a former oil & gas tycoon who once reached a net worth of nearly $20 million but faced cash flow crises, shares his transformative financial journey. He reveals how the 'gold rush' mentality nearly derailed him and how losing $1.8M forced him to rethink wealth. Mike emphasizes the importance of liquidity over net worth and advocates for a life designed around freedom rather than just numbers. He discusses his framework for financial stability and the joy he found in simplifying his wealth approach, including selling luxury items.
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Childhood Money Vow
- Mike Brown's parents fought about money every night, motivating him to become rich.
- He vowed to make so much money that he'd never argue with his spouse about finances, a goal that later became a limiting belief.
Million-Dollar Deal
- After leaving the Navy, Mike Brown started an oil and gas company with his former Navy pilot business partner.
- Their first deal earned them $1 million, which quickly vanished after reinvestments and a down payment on a house.
Gold Rush Mentality
- Despite early success, Mike Brown felt driven by a "gold rush" mentality to constantly reinvest, never feeling truly wealthy.
- He normalized the stress of being illiquid, chasing an arbitrary $100 million wealth target.
