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08Feb

Millionaire on $11 an hour

4 comments so far

Looks like yesterday’s post may have been a bit premature. :) Still, this is going to be a quickie.

CNN has a short video report on a man who’s been a mill worker his whole life making $11 an hour. He retired as a millionaire and has made significant philanthropic donations in his community. How did he do it? What I took away from it was that he invested well and lived simple. Of course, I may be biased. :)

This story makes me think of The Millionaire Next Door, a book I’m currently re-reading and plan on writing a post or two about in the near future. Essentially, it’s not about income, it’s about lifestyle. But more on that later. Here’s the link to the video.

LivSimpl

P.S. Thanks to long-time reader, Peter, who promptly sent in a guest post yesterday, as well as to those wishing me luck at work. It’s appreciated!

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Categories: Finances, Work

Friday, February 8th, 2008 at 8:59 am and is filed under Finances, Work. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

4 Responses to “Millionaire on $11 an hour”

  1. Posted by Becca 8th February, 2008 at 1:56 pm

    He also was a social hermit and didn’t have a family, which always saves you a buck ;)

  2. Posted by Stephanie 8th February, 2008 at 2:35 pm

    I saw this article, but didn’t watch the video yet. Not sure if I want to, because I’m afraid of being overcome with guilt for everything I’m NOT doing but COULD be. Sometimes I just prefer to live in ignorance. :)

  3. Posted by Kevin 8th February, 2008 at 5:11 pm

    I think we can learn a lot from this man, but he may be an extreme example. I don’t think one needs to deprive himself of everything – just be smart in your spending. So…be wise in using your phone (a lot can be said about that, I think), borrow books from the library (reading is a lot more important than most people realize), and there isn’t anything wrong with watching a little TV, especially if it’s educational (just don’t become a couch potato). Moderation in all things.

    But I get most of my clothes from thrift stores (but not underwear or socks), I invest my money wisely, and am frugal overall. And it’s very true that, if you take control of your money, it will never take control of you.

  4. Posted by LivSimpl 8th February, 2008 at 9:45 pm

    Becca & Stephanie – Yeah. Good points. I think Kevin’s response hits the nail on the head: simple is good, but everything in moderation.

    Thanks for your comments!

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