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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Single person here, age 47: 1 million. It was reached making minimum wage since age 18. Second million should come much faster now that I know what to avoid and how to grow it. My 18-year old is about to get his first paycheck. Straight to Roth it goes.[/quote] Many congratulations to you, I come from a privileged background but I have the utmost respect for people who came from nothing but can change their life story through sheer hard work and grit. You are the kind of person society needs to applaud.[/quote] Thank you. I actually did come from privileged background somewhat, but in another country. I moved to US at 18, but didn't get my green card until age 34. I couldn't go to school, get a better job, buy property, invest, or even have a credit/credit card for 15 years. This would put anyone behind. I did go for Masters in teaching at some point, but I had no energy left for classroom in my 40s. I actually made many financial mistakes now looking back. It's hard to believe that they fit into minimum wage, but they do. I don't know where I would be if I had had a chance to go to college right away and get a job with benefits. All my friends who did get their work permits earlier than I, and do have good jobs with benefits now, will be working until 62+. I don't work for money anymore as the million brings in more than I would ever make at my service job. Minimum wage was not what held me back getting to the million. The main things were: not able to invest for 15 years, lots of wage theft, which took my pay below minimum at times, and other low wage workers/family needing help. What helped? I was never sick, never out of work for long, keen interest in money and personal finance, great basic math skills, extremely strong mental and physical health, and very high risk tolerance. [/quote]
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