126: The 4 Biggest Mistakes Every New Millionaire Makes

30/09/2025 10 min

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Episode Synopsis

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 wealthHow “knee-jerk investing” leads to massive portfolio riskWhy tax strategy must come before financial adviceThe danger of listening to advisors who’ve never built wealth themselvesIf 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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