šļø SHOW NOTES
In this episode, we sit down with Mike Milligan, CFPĀ®, author, and founder of One Oak Financial ā a nationwide planning firm based out of Norfolk, Virginia. Mike shares how he built his $3.9 million net worth through a combination of real estate, private placement deals, his financial planning firm, and strategic Roth IRA conversion planning ā all while now living part-time as a Puerto Rico resident to optimize his tax strategy.
Mike goes deep into the misunderstood world of Roths, explains how to think about taxes over your entire lifetime (not just this year), and reveals why so many wealthy people quietly invest outside the public markets. He also shares his perspective on life design ā from traveling to 60+ countries, to eating Michelin-star meals, to buying $1,300 Louis Vuitton sneakers while still rocking $30 Wrangler jeans.
Before becoming a CFPā¦ Mike delivered pizzas at Little Caesars in college. Now he's appearing on CNBC and Fox Business ā and helping people build one-of-a-kind financial plans for one-of-a-kind lives.
This episode blends tactical tax strategy, lifestyle design, and a philosophy for actually using your money while you're alive.
š” KEY TAKEAWAYS
-
Mike's net worth is $3.9 million, with more than one-third in real estate
-
He believes the Roth is the most flexible, durable tax tool available
-
He uses Puerto Rico residency to convert at lower tax brackets
-
Wealth is built fastest via business and private deals, not just public markets
-
He automates investments and keeps cash to buy assets "on sale"
-
Money is a tool to create experiences, not the end goal
-
Travel is one of his core pillars ā he's visited 63+ countries
-
He values independence + creativity over corporate systems
-
Childhood lesson: count every penny
-
Best career hack: learn from people already living the life you want
š SOUND BITES
-
"I delivered pizzas."
-
"I wear Wrangler jeans and Louis Vuitton shoes."
-
"A Roth is just a tax strategy ā the investments are unlimited."
-
"We want to spend our money, not just accumulate it."
-
"Most CPAs plan taxes for this year ā not your lifetime."
Popular Podcasts
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
Las Culturistas with Matt Rogers and Bowen Yang
Ding dong! Join your culture consultants, Matt Rogers and Bowen Yang, on an unforgettable journey into the beating heart of CULTURE. Alongside sizzling special guests, they GET INTO the hottest pop-culture moments of the day and the formative cultural experiences that turned them into Culturistas. Produced by the Big Money Players Network and iHeartRadio.
Crime Junkie
Does hearing about a true crime case always leave you scouring the internet for the truth behind the story? Dive into your next mystery with Crime Junkie. Every Monday, join your host Ashley Flowers as she unravels all the details of infamous and underreported true crime cases with her best friend Brit Prawat. From cold cases to missing persons and heroes in our community who seek justice, Crime Junkie is your destination for theories and stories you wonāt hear anywhere else. Whether you're a seasoned true crime enthusiast or new to the genre, you'll find yourself on the edge of your seat awaiting a new episode every Monday. If you can never get enough true crime... Congratulations, youāve found your people. Follow to join a community of Crime Junkies! Crime Junkie is presented by audiochuck Media Company.