Originally Posted by L.A. BRONCOS FAN
Since 87% of small business owners make less than $200K per year, this is obviously a false statement.
Yes, they may EARN
less than $200,000 annually....but that is no indication of what they're WORTH
. Some people make smart decisions with their lives and their money.
I know a guy who works as a salesman in the lumber dept of a Home Depot who thru the employee stock purchase plan was had shares worth approximately $450,000 in '98.....and no doubt they are worth more. He earned less than $40,000 a year and lived in a former VA foreclosure home and had driven the same '82 Camaro until it broke down completely and he was "forced" (his words exactly) to buy a new car. Was he a millionaire in '98? No...but I'd be willing to bet he's damn close today. Why? Because he made smart decisions with his money and had the discipline to make his plan work to achieve his financial goals.
Your typical millionaire is a former small business owner, has no more than 3 credit cards (one major, one gas, and one dept. store), has never paid more than $300 for suit or more than $100 for his watch...they more than likely drive an American made car like a Lincoln or a Buick, Cadillac, etc...and have lived in the same middle class home for approximately 30 years.
They never tell their kids or other relatives how much they are worth, and they always require that friends and family members pay them interest on personal loans they give.
I'm not a millionaire (yet)...but I'm confident that by the time I reach my mid-50's I'll be damn close. Because like the guy I told you about, I too have the discipline to make my plan for financial independence work