When you go to work, arrive 15 minutes early, leave 5 minutes late, and do what you are told to do.
I'm attempting to have 3 jobs again. Seems harder than before, however.
Just had my best year ever.
How did your fiat currency incantations perform this solar-cycle?
.
It's been almost 10 years:
1. Are you a millionaire yet?
2. Why not?
1. Maybe.
2. Yes.
But isn't it that because of inflation a $million dollars is no longer worth a $million dollars?
That would be correct.
That would be correct.
Converted amount ($1,000,000 base) for today, 2022 back to 2013 => $786,283.74
.
I sure could go for a million tacos right about now...
Because I don't need money.
Because I don't need money.
They have a NFT for that! Going fast so you better hurry!!
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You curd invest in cheese, people tell me it's the whey to go.
I am working on it, and everything else is nonsense
Considering the boss saw all the work and effort I put into everything I do this past weekend I might be there already!
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Oh, I'm a millionaire. But I die before the first chapter, just to leave my money to the main character contingent on a series of hapless misadventures that move their personal story along. Don't mind me. I'll just be here, all undeveloped, with no hopes and dreams of my own, beyond leaving millions to someone who needs to learn the meaning of true love or some b&~*$~*+.
I asked an AI why david isn't a millionaire?
As an AI language model, I do not have access to your financial situation or personal circumstances. However, becoming a millionaire usually requires a combination of factors such as hard work, dedication, sound financial planning, and sometimes, a bit of luck. It's possible that you haven't yet achieved millionaire status because you haven't yet fully utilized these factors, or perhaps you have faced unexpected challenges or obstacles that have hindered your progress.
It's important to keep in mind that everyone's journey is different, and financial success does not happen overnight. It may take years of hard work, persistence, and smart decision-making to accumulate a significant amount of wealth. It's also important to note that being a millionaire does not necessarily equate to happiness or fulfillment. Focus on setting achievable financial goals, living within your means, and taking steps to improve your financial situation. With dedication and perseverance, you can work towards financial security and success.
Here are some practical steps you can take to help increase your chances of becoming a millionaire:
1. Develop a clear financial plan: This should include short-term and long-term goals, as well as a budget and a savings plan. Set specific, measurable, and achievable goals to help you track your progress and stay motivated.
2. Invest in yourself: Invest time, effort, and money into developing skills that can help you earn more money in the long run. This could mean going back to school, taking courses or training programs, or pursuing other professional development opportunities.
3. Live within your means: Avoid overspending and living beyond your means. Instead, try to live below your means by cutting unnecessary expenses and being mindful of your spending habits.
4. Invest wisely: Investing your money in stocks, mutual funds, real estate, or other ventures can help you build wealth over time. However, it's important to do your research and seek advice from financial experts before making any investment decisions.
5. Network and build relationships: Building relationships with successful people in your industry can open up opportunities for growth and development. Attend networking events, join professional organizations, and seek out mentorship opportunities.
Remember that becoming a millionaire takes time, effort, and patience. Don't be discouraged if you haven't achieved this goal yet. Keep working hard, stay focused on your goals, and seek out opportunities to improve your financial situation.
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I'm entertained that even the AI buys into the misconception that "hard work" has anything to do with earnings.
An agricultural worker works longer hours doing much more grueling labor than I do, yet would be lucky to make 25% of my salary.
My job as a college teacher was much harder than what I do now and took at least 20% more hours per year, yet it only pays about 60% of what I make in private industry.
Cross off "hard work" and the rest of the advice is reasonable.
I like "dedication" much more -- as I told my kids: "Show up to work on time every day. When you're at work, do what you're asked to do. If you have free time, find more company-related work to do. You will be the best employee your employer has ever had."
It's amazing how powerful "don't goof off while at work" is as an attitude.
And what's missing is the REAL money-maker: Always be working for opportunities to upgrade your position. I'm dysfunctionally loyal to employers who treat me well; I get a job and stay in it. I have colleagues who move jobs every 2-3 years because they can make 10% more at another company. They now make nearly twice what I do, because they practice "aggressive mobility".
As a complete side note, I was entertained that this thread got resurrected just as I finished a "what if?" calculation, where I asked, "If I'd followed financial planners' advice and started investing 10% of my income in an index fund every year, how much better off would I be?"
The answer was fairly refreshing: "Only" 60% more than I have now. Which means I haven't been that terrible about putting money away for retirement.
Just gets tiring when you're 55 and looking at 65 and thinking, "Yeah, maybe 67 is a better target..."
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The trouble is being able to afford putting 10% of income in investments.
Honestly, as far as I can tell, middle class people who don't move up financially are doing something wrong in most cases. They have the capacity to do something with their money to grow financially, even if that requires them to live like lower class for a while to achieve.
Lower class people are the ones who are less likely to be making mistakes financially (though they probably have terrible financial instincts) as the main cause of being not-rich, because they lack financial flexibility as they generally can't reduce their living expenses without massive penalties. Being homeless is nearly as expensive as renting, as food costs go up, and there are penalties associated with it such as the inability to shower properly, which significantly hinder attempt to move up. Bosses are less likely to hire someone who doesn't shower, regardless if whether their reason is laziness or homelessness. Further, lower class have less flexibility to attempt starting something new such as a new business or product as they simply lack the time and resources to put towards developing a new product or business. Thus, lower class people have basically no room to even try at being wealthier, with their main chance being to get schooling at a job worth a middle class income, achooling that requires either great studiousness and luck to have full scholarship, or a family support structure to feed them with noodle cups while they go to school and rack up debt. The schooling option however doesn't really work well as most such options don't actually grant anything that will get those individuals hired but they have no idea of that until too late.
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The trouble is being able to afford putting 10% of income in investments.
Honestly, as far as I can tell, middle class people who don't move up financially are doing something wrong in most cases. They have the capacity to do something with their money to grow financially, even if that requires them to live like lower class for a while to achieve.
Lower class people are the ones who are less likely to be making mistakes financially (though they probably have terrible financial instincts) as the main cause of being not-rich, because they lack financial flexibility as they generally can't reduce their living expenses without massive penalties. Being homeless is nearly as expensive as renting, as food costs go up, and there are penalties associated with it such as the inability to shower properly, which significantly hinder attempt to move up. Bosses are less likely to hire someone who doesn't shower, regardless if whether their reason is laziness or homelessness. Further, lower class have less flexibility to attempt starting something new such as a new business or product as they simply lack the time and resources to put towards developing a new product or business. Thus, lower class people have basically no room to even try at being wealthier, with their main chance being to get schooling at a job worth a middle class income, achooling that requires either great studiousness and luck to have full scholarship, or a family support structure to feed them with noodle cups while they go to school and rack up debt. The schooling option however doesn't really work well as most such options don't actually grant anything that will get those individuals hired but they have no idea of that until too late.
All too true. I worked out a quick spreadsheet and to have $1 million at 65 assuming a 7% interest rate you'd need to start investing $2650 a year at 18. (I didn't break $2650/year in gross income until I was 24.)
So... you're 26, never got a college degree, and are making $14.36 working full-time minimum wage in Oakland, California, where mean rent is $2813 a month.
Er... wait a minute! You're not even making enough to pay rent, much less buy food or pay for medical care or transportation. The notion of setting money aside is ludicrous.
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I have given up on money and now home school children.
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I have given up on money and now home school children.
Still a millionaire.
Still have to work for a living.*sigh*
On the bright side, it looks like in a couple of years my liquid net worth will finally be positive, so there's that to look forward to.
The trouble is being able to afford putting 10% of income in investments.
Honestly, as far as I can tell, middle class people who don't move up financially are doing something wrong in most cases. They have the capacity to do something with their money to grow financially, even if that requires them to live like lower class for a while to achieve.
Lower class people are the ones who are less likely to be making mistakes financially (though they probably have terrible financial instincts) as the main cause of being not-rich, because they lack financial flexibility as they generally can't reduce their living expenses without massive penalties. Being homeless is nearly as expensive as renting, as food costs go up, and there are penalties associated with it such as the inability to shower properly, which significantly hinder attempt to move up. Bosses are less likely to hire someone who doesn't shower, regardless if whether their reason is laziness or homelessness. Further, lower class have less flexibility to attempt starting something new such as a new business or product as they simply lack the time and resources to put towards developing a new product or business. Thus, lower class people have basically no room to even try at being wealthier, with their main chance being to get schooling at a job worth a middle class income, schooling that requires either great studiousness and luck to have full scholarship, or a family support structure to feed them with noodle cups while they go to school and rack up debt. The schooling option however doesn't really work well as most such options don't actually grant anything that will get those individuals hired but they have no idea of that until too late.
Oh, hey, all that schooling only goes to the favored few who are connected/wealthy so the cycle continues to perpetuate itself.
Seriously, the 'Honors' programme at my junior high and high school were a Who's Who of the 'affluent' members of the community -- and everyone else got an 'average' education at best.
I knew *more* about the alleged 'Honors' material than the 'mainstream' (which was basically propaganda to keep folks in their place).
Very little motivation to excel if one is being actively kept down by an educational system that rewards the well-to-do and punishes the not-so-much.
The 'Basic' program students (Learning or behavioural concerns) even got a better education than the 'average' education because they were taught job skills like how to fix a car or wire a house.
I honest to goodness tried to set aside money when I first started working the 'essential retail gig', and even with help from the folks in the form of allowing me to 'live at home' until I 'got my feet under me' I was underwater most of the time.
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Well, it's like I've been telling my kids:
Up until the 1930s, debt was an unsavory thing and you didn't go into debt for any reason unless you absolutely had to. Along came the FHA and taking out a loan to buy a house became "normal", and we had our first notion of "debt that every adult should have".
What's really surprising to me is that car financing predates the FHA (1928 vs. 1934) but even in the 1970s I recall car financing as being something that you didn't do unless you absolutely had to, and it wasn't until the 1980s that everyone was expected to finance their cars.
Suddenly all adults were supposed to have two loans.
When I went to college in the 1980s and 1990s, nobody took student loans. If you couldn't afford a school, you didn't go there. Student loans were for law school and med school and that's it. By the 2000s, student loans were standard.
So now you have an "average" American kid who turns 18:
- At 18, take out roughly $120,000 for a 4-year school. (My friends' kids are at U.C. Santa Cruz, and even with in-state tuition at a state-run school it's $28,000/year.)
- At 22, while still paying back the student loan, take out another $40,000 for a car.
- At 30, buy a house for (what's a reasonable price here?) $300,000.
They spend their lifetime in debt, not thinking once about how it wasn't always this way...
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I have no debt.
Didn't go to college.
Paid cash for my car.
I Rent.
NH: And if that subset they get *too* far into debt, they just 'declare bankruptcy' and have a few 'lean' years as they get their debt finagled down to 'acceptable levels' before starting the process all over again.
Outliers do occur, like CY, but they are not common.
Well, it's like I've been telling my kids:
Up until the 1930s, debt was an unsavory thing and you didn't go into debt for any reason unless you absolutely had to. Along came the FHA and taking out a loan to buy a house became "normal", and we had our first notion of "debt that every adult should have".
OTOH, up to the 30s the vast majority lived in poverty it's hard to imagine today. Home ownership and the FHA mortgage programs were a big part of what helped families built even a bit of generational wealth.
College loans were definitely a thing in the 80s and 90s. Not as ubiquitous or as large as today, but I knew lots of people who took out loans.
Yeah, the problem is that growing up in the Bay Area you get a skewed view of things, because it was upper middle class long before Apple came along and turned it into a world-class economic powerhouse. So yeah, where I grew up people didn't take student loans, but families definitely had more disposable income than most.
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Where and when I grew up "disposable income" was a pair of words that had never been put together in that particular order before and certainly had no meaning.