Posted by moy23 on 11/8/2014 4:35:00 PM (view original):
Posted by MikeT23 on 11/8/2014 3:23:00 PM (view original):
To be fair, I doubt BL claimed that no one has ever gone from minimum wage to millionaire. If you're not born into money, there's the real possibility that you worked a minimum wage job at some point. So it stands to reason that most millionaires made minimum wage.
The lesson to be learned is not that he worked a minimum wage job - that's just the cherry on top.... Its HOW he got to where he is now. His attitude, his plan, his sacrifice, his hard work. Its that he educated himself along the way. Read his quotes. That's exactly what it takes to become wealthy.
A) I'm pretty sure that million includes the market value of real estate the he has mortgages on. He doesn't actually have a million bucks.
B) the guy is now making $100,000 a year. That makes saving and budgeting much, much easier.
C) he was able to save 100% of his minimum wage salary. Most people don't have that option.
D) in later jobs he was able to save 40-50k a year. A lot of people would be happy just grossing that.
Look, my point is not that it's impossible to succeed or go from lower class to upper. My point is that we're stacking the deck, making it harder and harder for people to move up.
It's a fact that not everyone can be rich. But people should have the chance to make enough that they aren't in poverty.