Man takes his $12/hr job and invests. His new networth is over $500,000.

[WheresWallace]

Cliff Notes:

• Dude is dyslexic
• Never earned more than $12 hr
• Spends his money wisely and later decides to invest.
• Dude worked in a parking lot at a brokerage firm so he just started conversations with the people worked there
• He soaked that game and put it to use.
• His house is 100% paid off
• Dude has 0 credit card debt
• Dude has 0 certs
• Dude has 0 student loan debts.

Lessons I learned.

• Listen more than you speak.
  
• Soak up game and then apply it.
  
• Spending money wisely can go a long way. (I don't floss but this reaffirms the decision to be frugal)
  
• Taking out loans is for suckers. (Once I pay off my student loans credit unions and shiit.)
• Never let any disabilities get in your way. (Dude didn't let his dyslexia pigeon hole him.)

 

[trick]

great post, people should watch this

 

[Silkk]

*Reserves*

 

[Suicide King]

Not a unique story for people who are not materialistic and money wise.

People throw 5k a year on nonsense. Think about it.

Look how much people spend on 1)internet ($60/month vs. $20/month), 2)cell phone ($140/month vs. $50/month), 3)cable tv ($75/month vs. $0/month), 4)entertainment, 5)unnecessary commutes meaning more gas cost, 6)eating out/fast food, etc...

Saving on internet, cell phone, and cable will save $2k/year alone.

Invest 5k x 20 years = 100,000 total investment & with 7% interest it becomes $205k or 9% interest it becomes $255k after 20 years.

After 35 years it becomes $700k at 7% interest or 9% interest it becomes $1.1 million.

If you are 24 years old, you would be a millionaire before you are 60 years.

 

[kingstl]

If he's been there 44yrs them suckas should be payiing him more than 12/hr...

Great inspirational story though. I need to start saving better myself

 

[kingstl]

Not a unique story for people who are not materialistic and money wise.

People throw 5k a year on nonsense. Think about it.

Look how much people spend on 1)internet ($60/month vs. $20/month), 2)cell phone ($140/month vs. $50/month), 3)cable tv ($75/month vs. $0/month), 4)entertainment, 5)unnecessary commutes meaning more gas cost, 6)eating out/fast food, etc...

Saving on internet, cell phone, and cable will save $2k/year alone.

Invest 5k x 20 years = 100,000 total investment & with 7% interest it becomes $205k or 9% interest it becomes $255k after 20 years.

After 35 years it becomes $700k at 7% interest or 9% interest it becomes $1.1 million.

If you are 24 years old, you would be a millionaire before you are 60 years.

you left out kush, liqour, clubbing, tricking, and casinos

 

[MikelArteta]

so you dont need the cert game

 

[™BlackPearl The Empress™]

That's awesome.

 

[trick]

Not a unique story for people who are not materialistic and money wise.

People throw 5k a year on nonsense. Think about it.

Look how much people spend on 1)internet ($60/month vs. $20/month), 2)cell phone ($140/month vs. $50/month), 3)cable tv ($75/month vs. $0/month), 4)entertainment, 5)unnecessary commutes meaning more gas cost, 6)eating out/fast food, etc...

Saving on internet, cell phone, and cable will save $2k/year alone.

Invest 5k x 20 years = 100,000 total investment & with 7% interest it becomes $205k or 9% interest it becomes $255k after 20 years.

After 35 years it becomes $700k at 7% interest or 9% interest it becomes $1.1 million.

If you are 24 years old, you would be a millionaire before you are 60 years.

time to start investing then

 

[Ethnic Vagina Finder]

that's the exception not the rule. most people are trying to get by on what they make.

 

[Suicide King]

that's the exception not the rule. most people are trying to get by on what they make.

Not true.

How much is rent, food, gas, and electric?

All these things can be budgeted.

Anyone who believes in themselves knows they can put a little bit of money away to invest.

 

[Heafcliffe]

@ Mr. Earl.
Best example of self-discipline and working with what you have.
Sitting on a good amount right now. Gotta nikka bout to hit 295 and get that stock advice.

 

[Ethnic Vagina Finder]

Not true.

How much is rent, food, gas, and electric?

All these things can be budgeted.

Anyone who believes in themselves knows they can put a little bit of money away to invest.

he worked at a parking lot that had access to people that worked in the financial sector. he also was able to invest at he most opportune time. One thing I do suggest is people that have 401k, and leave that company. I left a job with over 11k in my 401k. I rolled it over into and IRA and spread it out over different mutual funds. I put in about $250 a month. I believe in investing but thinking people that make $12 dollars an hour can do what he did is not realistic. Everyone's circumstances is different.

 

[Suicide King]

he worked at a parking lot that had access to people that worked in the financial sector. he also was able to invest at he most opportune time. One thing I do suggest is people that have 401k, and leave that company. I left a job with over 11k in my 401k. I rolled it over into and IRA and spread it out over different mutual funds. I put in about $250 a month. I believe in investing but thinking people that make $12 dollars an hour can do what he did is not realistic. Everyone's circumstances is different.

You invest $3k a year, who can not invest $3k a year? Are you really saying someone making 24k($12/hour) can't put $3k aside?

Invest in an index fund, these funds have a steady return. Index funds that follow S&P 500 are good.

All you need is a steady return.

Here is what Warren Buffet says about index funds:

I have good news for these non-professionals: The typical investor doesn't need this skill. In aggregate, American business has done wonderfully over time and will continue to do so (though, most assuredly, in unpredictable fits and starts). In the 20th century, the Dow Jones industrials index advanced from 66 to 11,497, paying a rising stream of dividends to boot. The 21st century will witness further gains, almost certain to be substantial. The goal of the non-professional should not be to pick winners -- neither he nor his "helpers" can do that -- but should rather be to own a cross-section of businesses that in aggregate are bound to do well. A low-cost S&P 500 index fund will achieve this goal.

Here is an investment calculator, play around with the numbers:
http://www.bankrate.com/calculators/retirement/investment-goal-calculator.aspx

 

[WheresWallace]

Not a unique story for people who are not materialistic and money wise.

People throw 5k a year on nonsense. Think about it.

Look how much people spend on 1)internet ($60/month vs. $20/month), 2)cell phone ($140/month vs. $50/month), 3)cable tv ($75/month vs. $0/month), 4)entertainment, 5)unnecessary commutes meaning more gas cost, 6)eating out/fast food, etc...

Saving on internet, cell phone, and cable will save $2k/year alone.

Invest 5k x 20 years = 100,000 total investment & with 7% interest it becomes $205k or 9% interest it becomes $255k after 20 years.

After 35 years it becomes $700k at 7% interest or 9% interest it becomes $1.1 million.

If you are 24 years old, you would be a millionaire before you are 60 years.

My niigga I only pay $25 on my cell phone.
Im gettin abused by the internet bill tho.
No cable (I use the internet)
I make food at home .

Im tryna live in one of those mortgage free homes with solar panels, rain water collectors, and get rid of ALL utilities.

www.thecoli.com/threads/30k-house-rent-free-and-utility-free-would-you-do-this.199340

Some people even grow their own food. The savings!