I'm going to go on defense slightly for this commenter. I'm not going to call Americans unintelligent but they are very impulsive, greedy and more emotional then other countries. There is pressure by society to surrender to the masses and most people crumble under this pressure. How do you explain things like the pet rock! This guy made millions from a pet rock. He did exactly what the commenter is suggesting, that is capitalizing on the sheer stupidity or I would like to say sheer emotions of others.
The Pet Rock was introduced at a gift show, where the store, Neiman-Marcus ordered five hundred. After a news release showing Gary surrounded by boxes of his Pet Rocks, Newsweek did a story and within a few months was shipping ten thousand Pet Rocks every day. He even appeared on The Tonight Show twice.
By Christmas that year two and a half tons of rocks had been sold, three-fourths off all the newspapers in America had run Pet Rock stories. A million rocks sold for $3.95 apiece in just a few months making Gary Dahl an instant millionaire.
My business partner had an extremely high IQ and had a tough time conceptualizing why people were not as smart as he was and did not think the same as he did.
Of course there are overstatements because he is trying to get his point across. Obviously people will make $250,000 in their life time but like the other commenter "Chelle" says you don't want to be house poor trying to pay your mortgage.
To respond directly to the poster's comments about my short term goals of which included buying a vacuum cleaner, sleeping more, golf scores, and exercising. That was just a way of showing my reading audience that there are smaller goals nested in larger goals; and that the impact of the small goals and the decision-making that goes into completing them are no different then the larger ones. I have been through some REAL problems in life, including recently my mom getting hit by a car, leaving her unable to work....so more so then ever I realize how important money is.
In regards to my plan on being a millionaire I have what I call MSI - Multiple Streams of Income with the first and foremost being my job. Although it involves me in a cube (my own personal hell) my income is high which is what I'm using to fund the rest of my endeavors.
Of course I have my now profitable Auto Detailing / Truck Washing Business (4 Employees deep).
Real Estate Investing – In every down market someone is making money!
Ebay – One person’s garbage is another person’s treasure!
Aggressive Stock Investing – Very self explanatory
Internet Development business which I'm a partnered in that I can’t elaborate on just yet.
All of these activities puts my debt to income and income to spending ratios very high. My living conditions mimic that of someone who makes $40,000.00 so I have money to keep investing. I will eventually continue to buy and run additional companies and invest in more ventures until I can afford to break out of my cubicle prison without putting all of my endeavors at risk.
The commenter has a set of balls on him to quit his six figure job at Motorola and throw caution to the wind. Investing in yourself and your abilities is where it's at. I still haven’t worked up enough courage or cajones to just go in and kick the cube down.
Kudos to the commenter, for taking a strong stance and walking the talk. For those who were offended - life's too short. Just offend back with a comment of your own.
-MJL
I'm exhausted....Enough for now.
SAID POST IS LISTED BELOW
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
9:53 PM
4 comments:
First off, sorry to hear about your mom MJL. I had no idea!! I pray for healing and peace for her especially, but for you and the rest of your family as well.
I do wonder one thing about the guy with the big cajones...is he single? Does he have a wife? Does he have children? If so, are they still young enough to need his support?
If he is single and quit his job to go into debt and work 100% towards his new goals then fine, I could see how someone would think he had big cajones (although I think continuing to work, as you are, makes you a hell of a lot more committed to the entire process. I mean, who pays if all his stuff fails and he has NO MONEY?).
If he has children to support however, I think it is a completely different ballgame...and my guess would be that his balls are MIA in his MSI's.
Chelle
Hi again MJL,
Thanks for responding to my comment. I'm glad that you could see the points that I was trying to get across. Right on with the MSI method of doing things. Being a software engineer, I've developed and released a few programs and websites that consistently bring in revenue for me each month without me having to doing anything. The MSI method is the best way to get some extra money to fund your "master" project. It sounds like you are almost there. If your internet project idea is any good, it will probably be the one that gets you there.
In response to the post of Anonymous #1 -Josh (who calls me an arrogant ass)
Yes, I do agree that I am extremely arrogant. Everyone who knows me will agree to that. I have every right to be. I take great pride in my knowledge, abilities, and determination in the goals I have set for myself. For the last 7 years I have progressively and consistently imporved my life by learning new things, obtaining my goals, improving my personal life and making more money. I have went from living with my parents and having an 87 Pontiac Grand am to owning my own house and a fully paid 2007 Mustang. I've always had, and still do have clients and past employers telling that I was the best employee they've ever had and a few asking me to come back to work for them.
So, yes I do often tent to be arrogant, due to the fact that I am highly confident in myself, what I have accomplished, and what I will accomplish in the very near future. It's all about focus and determination.
Your comment about your father being a UAW worker and jobs going overseas has nothing to do with the intelligence of Americans. In fact, it has more to do with the greed of American's and the economic status in America. Why would a company pay an American $25/hour for something that could be done in India for $10 a week? If anything, American companies are getting scammed by overpaying Americans to do the same thing that could be done for cheaper elsewhere. I do not agree with your blanket statement that jobs that are outsourced are automatically of a lower quality.
In response to Anonymous #2 about paying off a $200,000 house in five years:
It took me a while to stop laughing at that. Thank you for proving my "Stupid Americans" comment 100%. That kind of mentality is why a greater number of Americans are losing or have already lost their homes. Obviously you were not fully awake when you made that comment so I won't get into it.
Finally, you said if I'm so smart, why am I going bankrupt. To be a successfuly business owner, you have to take risks. Taking risks is 90% of what business in all about. I decided to take that risk so I could better my life and my financial status. It really does take money to make money. I love you because you proved yet another point about why people can't get anywhere in life. They think that things will just be handed to them without having to put forth any money or making any sacrafices. Then wonder, "Golly gee, why have my life been stuck in the same rut for the last 25 years?"
-Mike
I love this Mike guy, he's not afraid to say what's on his mind. Confident not cocky. I'm from the new school of confidence. The Rasheed Wallace, Floyd Mayweather, Terrel Owens school of talking shit and then backing it up. If that's what you have to do to push yourself to higher levels then do it. Talk your shit and do whatever you need to make it so.
I am still a student but I will talk shit before a project or exam and I will then bust my ass to make sure that I back up every single word. There is a lot of Pete haters out ther but let them hate, it's like gasoline for my V8 (brain.) If they hate then let 'em hate and watch the money pile up!
-Cocky Pete
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