—Topic: Millennial Money and multigenerational families under the same roof
Bethany and Ellie meet at Ellie’s Kitchen Table and discuss how Ellie is 30% French instead of Spanish. They also talk about what Blackish, Everybody Loves Raymond and Jane the Virgin all have in common: multigenerational families under the same roof. They discuss the article by Mary Beth Sturgon called Discussing Financial Tips for Multigenerational Living. When multiple generations live under the same roof, they should discuss making house rules about paying for mortgage, rent, and other assets, utilities and monthly expenses, medical expenses, as well as household division of responsibility.
Grant Sabatier comes into the Millhouse discussing how he defines who is qualified to be a millionaire. Grant became a millionaire in 5 years after working several side-hustles, including having a moving company, watching his neighbors cat, walking dogs, renovating VW vans, and flipping domains on the internet. He tried to make at least an extra $50 a day so he could invest that money.
Bethany loves that Grant had such diverse interests in making money, and Grant suggests always focusing on goals. His goal was to become financially independent, so he was side-hustling to invest. His mindset was to invest as much money as he could.
It has never been easier in history to make as much money as we can. Whatever you want more money for, there are more opportunities to make more money. Grant says it is so much easier to make money doing what you love because the ROI over the long term more happiness along the way.
Grant talks about millennials and their money habits. He distinguishes the difference between older and younger millennials, and says both categories are questioning the “success narrative,” which can be a great financial decision in the long run. Grant also mentions that Millennials are the new burnout generation, and that work/life balance is definitely important.
They end the conversation talking about Grant’s new book Financial Freedom: A Proven Path to All the Money You Will Ever Need, and Grant explains how much money IS “all the money you will ever need.”
Bethany and Ellie end the show playing a game “Two Truths and a Lie.”
: Just after college, Grant was unemployed, living at home with his parents, and had only $2.26 left in his bank account. Through frugality, investing, side hustling and entrepreneurship, 5 years later, he had a net worth of over $1 million. He is the creator of MillennialMoney.com and Author of Financial Freedom: A Proven Path to All the Money You Will Ever Need.