Tue, October 15, 2019

Millionaire Truths

I am taking a break from our series on meetings to share some insights to an article that I think most teens would find interesting.

Yahoo has an article about millionares and how they live their life. Here are some tidbits that I found interesting:

1. 80% of Millionaires earned their cash. That means only 20% inherited it or won it! (So, for those of you who are thinking about winning the lottery.. . get to work on your own business and earn it like most millionaires do.)

2. 80% of millionaires are college graduates. (This means you should get a good education. Reading this page is a good start, but keep that learning going and maybe you can share with us some things you learn!)

3. More than half of millionaires own their own business. (Half own their own business, so if I was a betting man, which I am not, I would want to own my own business if I wanted to be a millionaire.)

4. Funny note is that many of these guys (and girls) drive a Ford, live in not so fancy areas, go to work every day and still worry about paying their bills. Learn to live on the least you can, save the rest and you will be a millionaire in no time.. . ok, maybe a little bit of time.

Last thought: With the way the dollar increases over time, it would be so easy to be a millionaire if you start early, like when you are a teen. Look up “time value of a dollar” and you will see what I mean.

Do you want to be a millionaire? What are you willing to do about it? Leave your input in the comments.

(If you want to read the whole article click here.)

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3 Comments to “Millionaire Truths”

  1. Backlinks says:

    Keep up the good work. Everyone is opened to there opinion. Excellent blog here, i am still reading 🙂

  2. Yokel says:

    Saving? What kind of saving? Piggy bank, bank of america, stocks?

  3. admin says:

    Savings? Well, I would make sure it is in some kind of interest bearing account. If not, under you mattress works fine ;>)

 
 

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