126: The 4 Biggest Mistakes Every New Millionaire Makes
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126: The 4 Biggest Mistakes Every New Millionaire Makes
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About this listen
Becoming a millionaire overnight doesn’t mean you automatically know how to manage wealth. In this video, I break down the 4 biggest mistakes new millionaires make—and how to avoid them.
After my IPO at Splunk, I realized the financial industry wasn’t built for people with $1M–$30M net worth. Instead of cookie-cutter advice like “60/40 portfolios” and “withdraw 4%,” I learned the hard way that the wrong moves can cost you millions.
Here’s what you’ll discover:
- Why buying liabilities like houses and cars too early destroys long-term wealth
- How “knee-jerk investing” leads to massive portfolio risk
- Why tax strategy must come before financial advice
- The danger of listening to advisors who’ve never built wealth themselves
If you’ve built wealth through equity compensation, a business exit, or years of saving and investing, this guide will help you protect it, grow it, and manage it like a business.
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