$20m Net Worth After 25 Years Buying Businesses

There's, there's a lot of problems with that in society right now. There's people making $100,000, driving around three or $400,000 worth of vehicles in their family versus the exact opposite here. I make a, I make a ton of money and I got five clunkers outside between for me and my kids.

So I think that I'm more of a long term planner. I'm more worried about what my financial situation is going to look like when I'm 70, 80, 90 years old and creating generational wealth for my family versus having toys and trinkets. Right. So I think that mindset has helped me over the last 25 years.

Not as much as me, but we'd lived off of that $10,000 a month each for a long time time. And we started making more money within two or three years, the flooring business was up 75 to 100%. So we're making more money, but I mean, did we do a year end bonus of $20,000?

Yeah, we did stuff like that. But it's not like we doubled our income and then all of a sudden we doubled our payroll or our paychecks to ourselves. We didn't do that. So we started accumulating savings very quickly inside that business.

And that afforded us to do other things and buy business number two and buy business number three and buy business number four. And because we, we had that long term outlook, I didn't want necessarily, I didn't want to buy something. I want to buy a boat or do this or buy a bigger house.

I'm already living in a, in a, in a big enough house. What do I need another one for? Right. So the partnership thing is really important to talk about for a minute.

So I was super lucky and I would think equally my brother Would say that he was equally lucky that we found the right partnership. One that we trusted each other, we had the same mindset and we had the same long term goals of what we wanted to do. So I think that is super, super important.

When you go into, if you do this by yourself, great. But if you bring in a partner, man, you, you better vet that person until you're blue in the face because that, that could end your situation very quickly. If you got into bed with the wrong person.

It sounds like you generally then would advise, don't partner. If pressed, don't partner.

It's kind of a double edged sword. Right. Because two people are smarter than one. Right. I mean I was a risk lover where my brother Bob was risk adverse.

So that kind of worked on each other where I would maybe go out and do crazy stuff and you're like, whoa, wait a second. But he's at the same point ultra conservative. And I'm like, well, come on, let's, we've got to spend a little bit of money.