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To: mel221 who wrote (111483)3/21/2012 6:32:17 PM
From: mel221  Respond to of 149317
 
Funny thing though.

Being a millionaire is not enough. I read an early retirement message board. Over there a lot of the early retirees are government employees with a pension. My PHd (computer software) friend cannot retire early as he doesn't have the 30 years of service and a pension (at age 50).

But, someone who went to work for a city government just out of high school or college can put in 30 years of service by age 52.

Pension and health care for the rest of you life starting at age 52 is a pretty sweet setup.



To: mel221 who wrote (111483)3/21/2012 8:37:54 PM
From: tejek  Read Replies (2) | Respond to of 149317
 
My experience is more like MM's.

I probably know of 2 dozen self made millionaires and a few uber millionaires (not me!). None from wealthy
families. Working middle class.

Unfortunately, its mostly anecdotal. If you look at the actual numbers, most wealthy came from wealth or had a leg up from the beginning. Very few go from poverty to riches in a life time. Those that do.........the rare exceptions.........stand out...........so the mythology looks to be very real when it is not.



To: mel221 who wrote (111483)3/21/2012 9:05:21 PM
From: RetiredNow  Respond to of 149317
 
Exactly, mel. There's no escaping the working hard part. It comes with the territory. But the secret to wealth is saving a very large portion of your earnings year in, year out, for DECADES. That's what I did. 30 years of saving a huge portion of my income. Anyone can do what I did. As I've said, there's really nothing special about me.