He Became A Millionaire This Year, But He Hasn’t Told Anyone, Including His Wife, And He Isn’t Sure If He Should
For the last decade, this 33-year-old man has worked for himself.
When he first ventured into self-employment, he did business in his name.
Seven years ago, he started an LLC.
Once he started making a decent amount of money, he decided to create his LLC.
His business is similar to Bitcoin in that the profits can be pretty unpredictable.
In 2013, his profits were about $4,200, and in 2014, they were $76,000.
Clearly, the last decade has been a wild ride for him.
This year thus far, his profits are higher than the last decade’s profits combined.
Growing up, his family lived in poverty.
mavoimages – stock.adobe.com – illustrative purposes only, not the actual person
Tragically, his mother passed away when he was 10 years old.
After his mother’s death, he lived with his grandmother.
“I told her about two years ago that I would be a millionaire before she leaves this earth, and she said not to tell anyone if I ever did,” he said.
Since she gave him these words of wisdom, he’s debating on heeding her advice because, by the end of this year, he is estimating that he will earn between $1.9 million and $2.1 million.
When he first started going into business for himself, he made and uploaded YouTube videos.
Six years after that, his profits decreased a bit, so he moved into e-commerce, dropshipping through a few different platforms.
He didn’t have much success with this until he attempted to use Amazon FBA.
“A few years after that, I got into music production, and I started to ghost produce and release music that got a lot of streams,” he explained.
Over the last several years, his earnings have usually been in the six figures, and his wife has been aware of this.
He knows that his wife obviously didn’t marry him because of how wealthy he was.
Last year, they made $270,000 combined, and at first, his wife was thrilled.
However, her excitement was short-lived because she quickly realized that they owed a lot of money in taxes.
“That was only because we didn’t prepay enough money and have enough taxes from our W2 income since our tax bracket got significantly higher than the previous year,” he shared.
He loves his wife and is so grateful for her, and while he hasn’t told her yet that he’s officially a millionaire, he isn’t completely decided on whether or not he will eventually tell her.
Despite knowing that he makes so much money, his wife has stayed humble and never expects him to spend a lot on her.
For her birthday this year, she asked him for a bag which cost less than $200.
During the years before the pandemic, he paid their utility bills and bought groceries. This seemed reasonable, considering that he made more money than his wife.
Now, she buys the groceries while he pays for all the other monthly expenses.
He doesn’t spend a ton of money, but he and his wife enjoy taking one or two trips a year. A rough estimate would be that he spends 5% of his income on a monthly basis.
Both of their vehicles are fully paid off, and they don’t have any debt besides their mortgage, which is $210,000, with $150,000 in equity.
In his view, it wouldn’t make financial sense to pay their mortgage off early because the interest rate is only 3%, and he feels like that’s essentially “free money.”
“I could easily invest that $210,000 and make 6-9% on it annually,” he continued.
Since he reached millionaire status, he hasn’t made any huge purchases. But he does enjoy paying the tab when he gets together at a restaurant with his family or friends. He usually pays the tab about 90% of the time.
A couple of days ago, he asked his wife if she would care if he became a millionaire and didn’t immediately tell her.
In response, she said that she wouldn’t care if he became a millionaire, but she would be proud of him because it meant that he put in so much hard work to make that much money.
He clarified that he didn’t want to brag about being a millionaire, and he wasn’t seeking affirmation from anyone.
Rather, his hope was to inspire people who wanted to start their own businesses. He wants to make those who have already started small businesses feel like they can find financial success, too.
In addition, he doesn’t want to promote his business or gain new customers. He hopes that his personal story provides motivation to others.
Also, he gained all his knowledge from watching YouTube videos. He cautioned against buying things from people who are claiming to provide advice when, in reality, they’re just trying to make money.
Instead, he said that the best way to learn is to be intelligent, stay curious, and learn on your own as you go.
He is passionate about his business and has always felt that drive to continue learning, which helped him to continue all these years and avoid boredom throughout his career.
Then, he advised those who want to leave their corporate jobs and follow their dreams of starting a business to discover what they’re interested in, learn about the topic, and have patience.
He added that while they won’t be broke, they have to take the time to figure out how to monetize their passion.
Do you think he should tell his wife that he recently became a millionaire?
You can read the original post on Reddit here.
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