My friend cleans pools.
Maintenance only.
90-100 accounts - no employees
Married, kid, single income, late 30’s
He just asked me if he should pay off his $300k mortgage at sub 3% (house is with $1mm+)
I asked: how much do you have saved?
Him: $1.1 MILLION in a regular savings account
No inheritance, has never made an investment.
He said: I’ve been making $150-200k a year since my mid 20s and I’ve been saving. He also put $350k down when he bought his house
He has literally saved $1.5mm in 10-15 years
Drives a 2002 Toyota Tacoma
Incredible
I told him NOT to pay off his house and get a high interest savings account for now