Minimum Wage to Millionaire!: How to Get Rich Cheap
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About this ebook
"Minimum Wage to Millionaire - How to Get Rich Cheap" will provide the right know-how and guidance to amass $1,000,000 by age 65, starting from a minimum wage income.
This book is a must for anyone who realizes that there can be more that they can do personally to better their financial position, at any income level. This book can inform and encourage anyone to become financially independent from all walks of life, including high school students, college students, minimum wage earners, middle income earners, welfare recipients, persons with disabilities, and retired persons.You can use the information found in this book to literally change your life for the better! YOU can become financially successful, from any income level, too!
Lorianne Holt
Lorianne Holt is a self-taught financial advisor who has compiled most of the information found in this book from her own life experiences and research. Invaluable information was gathered during Ms. Holt's experiences of being a single mother of six children, struggling to make ends meet while on welfare.
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Minimum Wage to Millionaire! - Lorianne Holt
CONTENTS
Dedication
List of Tables
Foreword
Preface
Acknowledgements
Introduction
Chapter 1
Chapter 2
Chapter 3
Chapter 4
Chapter 5
Chapter 6
Chapter 7
Chapter 8
Chapter 9
Chapter 10
Chapter 11
Chapter 12
Afterword
Conclusions
References
About the Author
Dedication
First, I want to dedicate this book to all of you working hard to attain financial independence. I want to do everything I can to help you to become a success! In addition, I would like to dedicate this book to my family: Ruth, Kimberli, Stephany, Bryan, Anthony, Jenefer, Matthew, and Angalina, all of whom love me so much, and let me know it!
List of Tables
Cash Flow Plan: Minimum Wage Income—2-Wage Couple Cash Flow Plan: Minimum Wage Income—Single Person Value of Investing Each Month at 10% Value of Investing $1.00 ONCE at 10%
Foreword
This publication was designed to provide accurate information of a general and current nature only. It is published under the express understanding that neither the writer nor the publisher has the specific background in or is engaged in rendering legal, accounting, or other professional services. Any information, therefore, should be evaluated in the context of each individual’s particular and unique financial circumstances. The services of competent legal and accounting professionals should be sought and consulted before implementing any strategies outlined here.
It is also assumed that tax laws and economic dynamics change on a constant basis, and other uncontrollable factors may limit or even prohibit the use of certain investment options or financial planning strategies.
Since a basic financial education is desirable and helpful to begin self-reliance and empowerment toward financial independence, this book was developed as a helpful tool and basic building block upon which to develop additional personal money management, financial planning, and investing skills.
Preface
This book is a must for anyone who realizes that there can be more that they can personally do to better their position in life. This book can inform and encourage anyone to become financially successful from all walks of life, including high school students, college students, minimum wage earners, middle income earners, displaced or laid-off workers, unemployed persons, welfare recipients, persons with disabilities, and retired persons. If you are in any of these categories, you can use the information found in this book to literally change your life for the better. You can become successful, too!
My hope is that you will take this information and apply it to your absolute best advantage, carefully and wisely!
Acknowledgements
First thing, I want to give thanks to our Supreme Being for Her goodness and for Her many blessings, which She has generously bestowed upon me and my family.
I want to give special thanks to my partner, Ruth Sanchez, for her many excellent suggestions, her strong belief in me, and her excitement over this project. Her input for this book was invaluable!
Introduction
Have you heard the loud bumping sounds echoing across America these days? Those bumping sounds you may be hearing are millions of Americans doing one or more of these three things: They’re bumping their heads upon the cement ceiling of low wages; they’re bumping their bottoms upon the concrete floor of a lowered standard of living; and they’re thumping their fists against the hard wall of total frustration, wondering why they can’t get ahead!
It’s been stated recently that for every hour you work a job, 25 minutes of that hour is going to pay taxes. 18 minutes is worked so that your boss can make money. And overhead comes to another 8 minutes. So, as a result, you only get to keep 9 minutes out of every hour worked for yourself. It’s no wonder that you may feel poorer literally every second!
It used to be so simple. Go to school. Get a job. Save money. Work until you retire. Retire. Die happy and fulfilled. But now, things have changed a lot. Our out-dated school system has not caught up to the razor-sharp realities of our new economy. Today’s wage-earner needs to know how to obtain and use whatever money they can earn to its highest and best potential. You can’t afford to be complacent anymore, nor can you afford to be ignorant about the use of money if you want to get ahead and have the things you want out of life.
It is a terrible shame that you can spend the first quarter of your life in school, yet leave knowing nothing about money, except how to spend it! Your parents never figured it out, or you would have been