I’ve had enough - Posted by Ryan (NC)
Posted by Ryan (NC) on April 10, 2007 at 21:07:40:
Nothing personal but your attitude erks me!
According to the US census the average household income is $46,326 per year.
Our society’s income breaks down as follows:
8.64% make less than $10,000 / yr
13.02% make $10-20k /yr
12.59% make $20-30k /yr
11.16% make $30-40k /yr
9.47% make $40-50k /yr
8.18% make $50-60k /yr
7.11% make $60-70k /yr
5.68% make $70-80k /yr
4.65% make $80-90k /yr
3.58% make $90-100k /yr
9.89% make $100-150k /yr
3.17% make $150-200k /yr
2.95% make $200,000+
Over all the numbers aren’t that humbling, a mere 16% of our society make a six digit income… to add insult to injury here are the numbers by education level:
High School $26,505
Some college $31,054
Bachelor’s $49,303
Masters $52,390
Doctorate $70,853
You reek of get rick quick day dreams and negative thinking that sets a huge portion of our society on a crash course with living on a fixed income when it comes time to retire. You want to compare apples lets run the numbers for a doctor, by investing 10% of his / her income in an IRA earning 10% for 30 years they’ll have roughly 1.3 million plus lets say a clear and free house worth $500k for a total of 1.8 mil net worth and a residual income of $10,800 from the interest on the IRA.
An investor starting with Lonnie deals we’ve already established can produce somewhere around 130k per year in a reasonable amount of time. We’ll let them live like a doctor and say it takes 5 years to obtain the 130k. They are then able to invest the difference ($5500) month into other investments earning a minimum 18% for 25 more years which gives them a retirement portfolio of 31.5 mil and a house worth $500k for a net worth of 32 mil and passive income around 262k per month…
You can argue what ever you’d like but just over 6% of our society can compete with an active investor dollar for dollar never doing anything other than Lonnie deals and I’d be willing to bet you a dollar that more than half of the 6% are business owners of some sort.
Folks it’s thinking like this that will limit your potential in life, Lonnie has given all of us a key to a better future, Scott and Tony are getting ready to give an in depth crash course to wealth building using mobile homes… I’m not going to say it ain’t without it’s up’s and downs but it sure beats being part of the other 94%.
Best wishes,
Ryan Needler