Tuesday, September 18, 2007

Future Millionaire Skills ..and I don't mean that!

So this past weekend I got to fly first class again. Even though the flight was short, (Detroit to Virginia) I still loved every second of it.
Ok, it wasn't as nice as the picture but I still love it.
I went halfway through the flight and I still wasn't able to make conversation with the Asian gentlemen next to me. What a waste, I thought, If I can't find out what he does and who he is, then what kind of future millionaire am I. Then I peeped his monogrammed socks and that was it! I had to find out more. He looked visibly bored so I offered up the Wall Street Journal. This accomplished two things: 1. He was impressed that a hip hop head such as myself – dressed in the shirt from one of my companies - not only did I have a copy of the journal it was labeled with my name showing that I'm a subscriber. 2. Now he was just as intrigued about me as I was about him.

Score 1 for the future millionaires. By the time the flight landed I had this tenured professor, Phd from Michigan State, raised in Philly, 26 years living in MI, teaching in Virginia on the weekend, advid mountain biker crackin up. He was even tapping my arm and pointing to stuff out of the window for me to take note of. I never got his name or exchanged cards but when I left he said, "Take care man". It was at that point that I realized we had been the only two passengers in first class that spoke the entire trip.

Go figure. Politicking with anyone anywhere is a skill that is mandatory for the self made millionaire. I got that part of the game down flat.

MJL



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5 comments:

Anonymous said...

Hello,

I stumbled across your blog and found myself reading your stuff for about an hour. You have a very interesting take on things. Most of what you say, I totally agree with. I too own my own business and am in the process of becoming a future millionaire, which is pretty much 99% guaranteed after my company releases our next product to the public. I find money very interesting and the game to reach millionaire/billionaire status is quite fun to play.

Your post from July 3, 2006 (Getting out of debt: part 1) was right on with what I also believe. Most people are in fact too lazy or too "busy" to do anything to get out of their current stressful situation. Most are stuck in a rut of the current dead end jobs or have screwed up their chances for success by popping out babies like candy. You may also realize that the main reason that people are not making a ton of money is because they are simply stupid. Honestly, the average IQ of us Americans are the bunt of jokes in other countries. Your average John or Jane Doe does not have the mind set or the knowledge to know that it's a bad idea to purchase a house that costs more than they will collectively earn in their entire life. They also can't equate that having 4 kids and a $30,000/year combined income doesn't mean that its a good idea to pop out a few more babies.

Also, because your typical American has an average intelligence of a 10 year old, it is nearly impossible for them to even know how to start a business let alone run them. The fact is, the reason why many of the rich people are rich is because they know how to capitalize on the sheer stupidity of others, which is the majority of the population.

Going back to your post on July 3, 2006 you list your top 10 worries. Some of which included a vaccume cleaner, sleeping more, golf scores, and exercising. I hope since that time you have had the chance to experience some REAL problems in life. I agree that money is everything and everything revolves around money. The thought of money is what gets me up in the morning and keeps me going during the day. Money along with determination is the reason why I quit my $100,000 a year engineering job at Motorola to start my own business, which is currently slowingly moving me closer towards going bankrupt and almost reaching $100,000 in debt. But that's what drives me. I love the experience and the thought of one day becoming as rich as Bill Gates or the 2 founders of Google. I can go on forever about this interesting topic, but I am curious as to what you are currently doing to reach your millionaire goals? So far, you've been the only one I've seen who actually knows what he is talking about and knows what is needed to get the most out of life...Money

Anonymous said...

I'm not sure who this arrogant ass is but I have pure American pride. My father is a retired UAW worker, and I am currently a member of the Union, if Americans are so dumb then why are all of the jobs that get overseas getting recalls? Not to offend anyone but ever since our jobs started to go overseas we began producing crap. Soon Toyota will have more American Plants then GM. They know that Americans are intelligent and take pride in their work. It's the attitudes of idiots like this that is causing all of our tech jobs to go overseas.

-Josh

Anonymous said...

Why does this guy say that people buy houses that are worth more then they will make in their lifetime. That isn't true. If you make $40,000 a year you will easily make $200,000 in five years. If this guy is so smart then why is he going bankrupt!

FutureRob said...

Well done, MJL. Thanks for the link, BTW. I have returned the favor.

Anonymous said...

So, the first guy who commented made me laugh a little because although he had some good points, he bashed idiots who can't manage money and then confessed he was in massive debt.

Then, I started cracking up when I read one of the other "anonymous" responses...

"Why does this guy say that people buy houses that are worth more then they will make in their lifetime. That isn't true. If you make $40,000 a year you will easily make $200,000 in five years..."

Tell me this person isn't assuming that someone would spend every dollar they earn on their mortgage and pay it off in 5 years?!?

I agree with the first guy on the issue of people buying houses. I have had a blast stopping at garage sales this year in the ritzy areas and getting killer deals on fancy things because Mr. and Mrs. Jones (who make $50,000 a year between them) got an ARM loan a while back and are now kicking themselves in the pants (which are now Rustler brand, as they just sold me every single pair of brand name clothing they previously owned at .25 a piece).

Let's use some common sense (and math)here people...

A 30 year fixed loan at a rate of 7% interest on a $200,000 mortgage would be about $1350 a month. If you make $40000 a year that would mean somewhere around 40% of your money would be going to your house.

I am not that great at math though MJL. Could you double check it for me??? :)

Chelle