Most millionaires did not win the lottery or inherit their money. Truth is, most millionaires had regular jobs, lived frugally, and invested well.
Utah’s population is 5-6% millionaires. Not bad, but Maryland, Connecticut, Massachusetts, New Jersey, Hawaii, Alaska, Washington, California, Minnesota, and Colorado, all have over 7% millionaires.
How many millionaires are there? Well, people that have a net worth not counting their primary residence of
$1 million to $5 million there are 11.3 million people
$5 million to $10 million there are 1.3 million individuals in the U.S.
$10 million to $50 million there are 875,400 people in this category
$50 million to $100 million there are only 47,200 people
$500 million to $1 billion there are only 1,180 people
over $1 Billion dollars in assets not counting their primary residence a scant 580 people.
The people that have it have to be taught how to keep it. The people that earned it did not do it by accident.
Of the people with between $1 and $5 million in assets, in any given year, only 10% are willing to spend more than $25,000 on an automobile. They recognize it as a bad investment, but buy it for show and not profit. Of the people with more than $5 million in assets, including billionaires, only 22% are willing to spend more than $25,000 on an automobile. It is generally poor people that spend more on cars and that may be why they are poor. The people we are talking about here paid cash and did not need to ask someone to loan them the money to buy the car. Also they did not pay the exorbitant sales commission of $6 to $30,000 or more depending on the car. Since they had cash, they made an offer that if refused they would simply walk away and go to Larry Miller or someone that would accept the cash offer. That commission is some people’s entire annual salary. They also did not incur any finance charges.
18% of people with $1 to $5 million is assets gave $5,000.00 or more to charity. In the $5 million plus category, 48% gave $5,000.00 or more to charity.
Mark Cuban, owner of the Dallas Mavericks, lived like a student for years, ate macaroni and cheese dinners, and never had a car worth over $200 until he was 25. He saved his money and put it to work in a low cost mutual fund.
Having a plan is critical. It is not taught in school because teachers do not know how. That is why they are teachers.
Take an average high school graduate in Utah as an example. He can join the military as a career, he can attend college to train for a career, he can attend a trade school for a very short time and be guaranteed a good job upon completion, he can get a regular job and be poor all his life. Jobs in the oil industry range from $20 to $150 an hour. USU trains them and the oil people hire them. Some jobs require 90 days training, but you have to ask yourself what kind of a nit wit goes and gets a job for $10 an hour? And what sort of person wants to marry one?
Of all of the successful people I have ever talked with, they speak of many hard times before they actually made it.
Reminds me of a guy that signed up in a MLM program and after only 2 months, he quit. I asked him why. He said it was too hard. I asked what he had to do that was so hard? He said that people did not buy when he asked them to. Well, why should they? People rarely buy things they do not need and do not want.
Now, if you had a cure for or relief from cancer, autism, ADHD, anxiety, panic attacks, diabetes, MS, depression, chronic pain, arthritis, or something like that, then, it might be a little easier to find a customer.
Of all of the different ways to become wealthy, none are easier to start than network marketing. You don’t have to have a lot of capital to start. You only need enough money to purchase product every month in order to stay active. Multi-level Marketing is the ultimate free enterprise. You get paid when you work and you don’t get paid when you don’t work. What is considered work? Work is helping other people. Work is showing people how to solve a problem. Work is helping someone earn more money. Work is helping someone feel better physically as well as about themselves. Working is what you would or should do anyway, even if you didn’t get paid. And in the beginning, you don’t get paid a whole lot. But it multiplies.
How many people have you told about your church, garden, favorite camp spot or fishing hole? Or anything else you are excited about? It’s actually fun to help someone. Why be a democrat and think only of your self?
If you really want to be self sufficient in less than ten years and be able to do whatever you want, whenever you want, you can do it with network marketing. Take a look at a fantastic new opportunity with CBD Oil.