Most Americans believe that becoming a millionaire is a long-shot. In fact, according to a ABC/CNBC, the actual number is 61%.
And since most Americans also believe that “jobs, 401(k)s, mutual funds and the stock market” is the correct road to becoming a millionaire, I’d have to agree with them on their longshot assertion.
I’ve beaten this horse to DEATH but then again I ask, is the horse really dead when the world maintains it’s alive?
Not a week goes by when I don’t read another article highlighting the struggles of people near retirement age.
They’ve followed all the rules, played the game how they were taught, and now, in the twilight of their life, they can’t retire and have to continue working. These people have been sold a 50 year financial lie that costed them their youth, and now, their retirement.
I spoke to a retired man the other day and while I’m not privy to the exact details of his financial situation, he told me that he recently liquidated a Vanguard stock mutual fund which he funded with $63K back in the mid 1990’s.
He told me he hasn’t touched it in years, or added to it, and it was meant to be apart of his retirement fund.
He volunteered a cold reality that face most retirees today: Today it is worth $32K.
He lost nearly 50% of his money in the vehicle championed and recommended by every “financial expert” out there – a vehicle that, unquestionably, is going to make us all rich someday!
Consider this: While I may be a multimillionaire, I’m not uber-rich. I don’t have houses all over the world or a stable full of exotic cars. Aside from a fairly large house and a Lamborghini that I rarely drive, I live like everyone else with one primary difference: I don’t have to work. And, if I don’t succumb to lifestyle improvement (I need 4 Lambos! I need a bigger house! I need $1,000 shoes!) that will probably never change.
So HOW did my story of financial freedom become possible? The irony of the dream I live has NOTHING to do with the stock market, NOTHING to do with mutual funds, NOTHING to do with 401(k)s, or NOTHING to do with a good paying job.
And yet the message you’re continually brainwashed to follow, without question, doubt, or pause? Trust your life to these vehicles and one day, they’ll pay off.
Depend on Wall Street!
Depend on the job market!
Depend on the housing market!
Depend on 8% a year (when banks are selling 1/2 percent a year)!
Yes, co-dependence will someday make you rich! Do this for decades, and one day, retirement will be all shuffleboarding and trips to the S. Pacific.
What a freaking joke.
Fact: The biggest financial losses I’ve incurred in my life have never come from my business decisions, or from my failed business ventures. They’ve always come from the same exact place…
The stock market.
And yet, the world continues to ride the same old horse, despite the evidence showing us that the horse cannot be trusted.
If you want to become a millionaire, and do it young, here’s the eye-opening truth: Dependence isn’t a financial strategy.
The irony of “millionaire advice” coming from non-millionaires is that the advice is often wrong, and just carbon-copy doctrine unquestionably passed from one generation to the next.
As crazy as it may seem, some people would rather take advice from people who WANT to be millionaires, versus from people who ARE millionaires.
If you want to become a millionaire, and perhaps have a few decades of life remaining so you can enjoy your millions, you must escape co-dependence! If your financial future is codependent on the job market, the stock market, and the housing market, yes, I don’t think the odds are in your favor, especially since you cannot leverage, nor control the variables that can change the odds!
Fastlane entrepreneurship is about breaking co-dependence and becoming independent by creating business structures were the mathematics work for you, instead of against you.
The reality? I don’t use the markets to create WEALTH, I use them to create INCOME.
In my next post, I will show you how: Never Work Another Day in Your Life: The Passive Income Portfolio In A Yield-Starved Environment.