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How do you think millionaires spend their money?
I get a lot of questions about how I spend my money, and while I can't speak for every millionaire out there, I can say, generally, there is a bit of a misconception about millionaire spending habits.
You see, you can become wealthy through many things, but you stay wealthy by fundamentally not overspending.
So today, I'm going to show you around my home and give you a little bit of a behind-the-scenes look at my lifestyle.
You will get to see some of my favorite things, but more importantly, I'm going to share what purchases are purely for entertainment and my enjoyment and which ones are investments.
Do you think I make more investment purchases or more entertainment purchases?
You might be surprised at what you find!
In this video, I'm going to cover:
- The difference between an investment and spending and how that impacts my purchase decisions
- What some of my larger purchases are and why I purchased those things
- What is the deciding factor between cash or charge
How would a millionaire spend their money? Well, I don't know about other millionaires, but in today's video, I'll show you how I spend mine. And don't forget to subscribe to the channel as I release new videos each and every week.
So I've got a lot of requests recently to make a video on how I spend my money. And if you're not familiar with me, my name is Dan Henry. I, at one point, was a pizza boy delivering pizza for seven years. And then I grew my company getclients.com to 20 million in just four short years. I was able to do a lot of other awesome things like becoming a Wall Street Journal bestseller, share the stage with people like Tony Robbins, and most recently buy my first luxury yacht. So how do I spend my money?
Well, first I like to go over. The difference between investing and spending investing is where you put money into something, and you get more money back. Somehow spending is where you put money into something like this motorcycle, and you ain't getting it back. That's just for fun, joy, or the happiness of life.
So I'm going to take you around my house and my lifestyle and show you some of the things I spend my money on. I will let you know on each item if it's a pure pleasure item or if there's an investment angle to it as well. All right, first up is this 2021 Indian motorcycle. It's an Indian Scout Bobber. It's a little bit rough to ride compared to most. It really is a sharp-looking motorcycle. It was about $16,000. I did buy it cash because if it's under like if it's around 15 or under, I sometimes buy it cash just 'cause it's not worth doing the paperwork. I love riding motorcycles. I had a motorcycle when I was younger, a Harley.
So I got this, I understand the motorcycles are dangerous, but I've always been a pretty safe rider. I don't pop wheelies or anything. And I pretty much just bomb around this nice little beach town that I live in, in downtown St. Pete. This is one of the pure pleasure items that I bought because I wanted it. I just look for fun stuff to do when I'm bored. Definitely not going to get a return on investment on this. It's a Pure pleasure.
All right. So next up is my Tesla, which is a funny story behind this. I used to own a Lamborghini, and I bought it because I thought it was cool, and it wasn't cool because the thing broke down all the time. Everybody just wanted to sit on it and take pictures. It wasn't comfortable to ride. I didn't like it. And that's when I realized that, you know, instead of trying to be a poser and try to get a car that everybody else wants and be a man, "I have a Lamborghini," you know, a real man does whatever the hell he wants.
And I wanted a Tesla because I don't want to drive. I want the car to drive for me, and this car drives for me. So I sold the Lamborghini, and I got the Tesla, and I got this vegan white interior leather, which is probably a mistake 'cause I have a kid, but my kid, fortunately, is super clean. I mean, look at this Iron Man doll. There is not a smudge on it. No puke, no feces. He's a pretty, pretty clean kid. It's comfortable to drive, super comfortable. The car will literally go from a parking lot right to me. And it's about a hundred thousand dollars. Not really an investment. You could argue slightly because it keeps me comfortable but probably won't get a return on that. That's gotta be worth a hundred grand.
All right. So next up is my house, which I'm actually selling. And this is why this is definitely an investment because when I bought this about four years ago, it's was worth about $500,000 less than it is now. And actually what I do is I buy a home, and I move every three to four years because if you buy a home and it raises in value, and you sell it depending on the tax laws at the time, generally around three years, you actually get to keep a hundred percent of the gain. You don't have to pay any taxes on it. So that's pretty cool. So this right here, I'll take you around back and show you this. This is just, I mean, I've always wanted a really nice house on the water. So that's one of the other things I spent my money on. I paid 1.8 million for this, and now it's worth about 2.5.
This is the house. This is another thing I spend my money on is a pool table. I have to have a pool table because I love pool and it's a big stress reliever. This right here, I actually didn't pay for. Mr. Russell Brunson. The CEO of ClickFunnels actually gave me this Batman suit as a gift. But from what I understand, it costs about $4,000. You can wear it. I actually wore it to my nephew's birthday party. It makes me a good uncle. Dang, it.
So I do have a little jet boat right there, and the cover goes up like, so it's just a little Yamaha AR 195 jet boat. It's not expensive. It's like 30, 35 grand. And it's really there to bomb around locally. I do have a bigger boat. I have a Horizon PC60 Luxury Catamaran yacht. Now that, ladies and gentlemen, is definitely an investment because I pretty much wrote the whole thing off as a tax write off as well as we produce income through private charters. And we do private consulting with other business owners and me on the yacht, which is a company I founded called Millionaire Cruise, where you can go and get a full day of one-on-one consulting with me aboard my luxury yacht. That's been doing very, very, very well. We've produced a lot of income from that, and I've helped a lot of business owners grow their businesses. And so that is another thing that I've spent my money on that boat was about $2 million, and it's pretty expensive to run. It's about $30,000 a month, but we make that back in income, and I'll do a separate video on how I essentially bought and own that yacht for free.
I also like to spend my money on very classy, refined art. Hey, it's 2021. Don't hate
The other thing I spend my money on is gym equipment. I like really nice gym equipment. So I actually have this really cool dumbbell set here that came out of a commercial gym. Believe it or not, this squat rack is actually pretty cheap. I think it's like a couple of hundred bucks.
But that's the other thing you don't want to overspend, no matter how wealthy you are, because you know, that's how you get wealthy is by fundamentally not overspending. Watch this. I'm going to transform. Douchebag. Nerd.
Let's hop upstairs. All right. So another thing that I spend my money on is I love audio. I absolutely love the sound of things. And so, one of the things that I spoiled myself on was this amazing home theater stereo system. I've got Martin Logan Speakers with R E L carbon fiber dual sub set up. A Marantz, hopefully, I said that right, receiver and console and this 80 inch, 80, 85 inch Sony TV. And let me just tell you, when this thing is bumping, you feel it down here, it's like being in a movie theater. This is not an investment at all. Definitely a hundred percent pure pleasure, full transparency. I won't get a penny back, but I absolutely love sitting here relaxing and listening to music, watching a film. And that, that lets me de-stress. So in a way, it does contribute to building my wealth.
So I actually own about 12 guitars. My most expensive guitar is $10,000, but this guitar was actually given to me by my grandfather. It's a cheap, cheap-ish guitar. And he had it since he was a kid back in like the fifties or sixties or something. And so it's actually my favorite guitar, even though it's technically my cheapest guitar
Moving on to the kitchen. Full disclosure, you will notice my kitchen is a complete mess. And now that I'm actually talking about this on my YouTube channel, I'm realizing how much of a slob I am, but I don't clean. I hire somebody who comes three times a week and cleans. So basically, when I set something down, I just set it down. Saying this out loud sounds pretty, pretty bad. I'm going to put these...
Another thing is, of course, you got to spend your money on home improvement. I just had this whole balcony redone. So that's definitely an investment as it will definitely raise the value of the home when I go to sell it. Also, I understand that you see the Christmas tree behind me, 'cause I haven't told my housekeeper to take it down yet because I've been busy with my business. But the other thing that I spend my money on is cool toys for my kid like this miniature micro-nano rollercoaster. And I kind of bought it for me too, wooo!
The other thing I spend my money on is a $10,000 camera that I just ran into. The camera is definitely an investment because that's what you're watching this YouTube video on. And I actually do very well with my YouTube channel in terms of money versus subscribers. I actually do six-figures a month from my YouTube channel. Even though at the time of my recording this video, I only have 20,000 subscribers. I'll do a separate video on how I do that.
So I also like to spend my money on people I love. I give my family, my parents, my stepsister. I give them money every week to help out with their bills and take care of them. I call it, I guess, a parent tax because they did raise a son who became a multimillionaire. And I think that deserves a parent tax. So they get money each and every week from me just so they don't have to work. I also bought my mother a house that she absolutely loves. It's a very nice home. And I'm glad I could do that for her. I'm trying to buy my father a house, but my father is very stubborn. He doesn't want to move. So I'm still working on that one.
Now there's probably a lot of things I've forgotten and other things I could cover. I'm just trying to show you some examples of what I spend my money on. I'll do a separate video on my investment strategy, and we'll go a little bit deeper into things like the yacht and, you know, real estate and stuff like that. But the last thing I'd like to mention is this watch. This is a 2018 Rolex Daytona. Now, this watch 100% is an investment, and I'll tell you why. Not only does this watch retain its value where I could sell it for the same or more today as when I bought it. But the better way to look at this is what this watch means and what it can do. I spent about $15,000 on this watch. And as a result, it actually landed me several real estate deals that I may not have landed if I didn't have this watch.
When I first started making money, look at me. I look like I'm 12. I would go and look at off-market real estate deals. Nobody would take me seriously. I get there. They'd rushed me through the property. They wouldn't call me back. Even if I wanted to make an offer, they just didn't think I had any money. And so I talked to a friend of mine one day, and he said, "Listen, at the end of the day, you need a good timepiece on your risk. Because if you have a good timepiece on your wrist, that means you mean business. It shows people you mean business." And that's why people have watches like this.
And he says, don't get a Submariner. Everybody in their brother has a Submariner, get a good, get a good Rolex, get a Daytona. So I got it. I started out and looking at real estate deals and investment deals. And when I met with people, and they saw the watch, it didn't matter what my face looked like. They immediately took me more seriously. I literally saw their eyes dots to my face and go, ugh, and then they would look at my wrist and go, ah. It's amazing. I don't agree with it, you know, stereotypes and all that. But the point is the watch absolutely helped me land a ton of deals. In fact, one of them, I made about $250,000 on that flip. And I don't think I would've got it. If I didn't have this watch, plus I can pass this, watch down to my son and I'm going to, cause he always says, "Daddy's watch." He constantly points at it and says, "Daddy's watch." So he's getting it.
So that is how I spend my money. I hope this video was helpful if you like videos like this. And you'd like to learn more from me, don't forget to subscribe to the channel. And if you need help growing your business, visit getclients.com. That's my company. And we help people grow highly profitable businesses. There's some free training there that you can check out. And it's the exact model I used to start and grow a business that pays for this lifestyle. So I hope this was helpful, and I will see you guys in the next one.