Starting From Scratch

Who becomes wealthy? How does wealth happen? Perhaps you excelled in a team sport growing up – your dream is to become an NFL football star; actually playing for the Green Bay Packers and eventually winning the Super Bowl! Maybe you were a beautiful, artsy teenager and had a leading part in the high school play – Hollywood is your aspiration and you want to be a movie star where your beauty and talent is universally recognized and adored!

As you are already well aware, most of us are not quite so lucky, that is, we are moderately athletic and modestly attractive. So, our chances of immediate fame and fortune are remote. Does that prevent us from becoming rich over night? Nope, there is the Lottery, where pundits and fools alike wager their money with odds 1 in 135 million. There’s also a scant chance to make it at the casino betting it all on the roulette wheel. It’s possible a substantial inheritance is coming your way or you stumble into an unexpected fortune by chance – it’s happened to others and I hope it happens to you!

Now that we have that out of the way, we can start making our first million the good ole fashion way, by true grit. For perspective purposes and probabilities of achieving this milestone, let me give you some facts. Currently there are about 313 million persons living in the United States. Approximately 5.1 million people or 1.6% of the population are millionaires. When you drive your car along a busy highway, go to a packed movie theatre or attend a sold out rock concert, chances are millionaires are lurking. The odds of becoming a millionaire in the U.S. (the greatest country there is!) are 1 in 62. Those, my friend, are not bad odds. And think about it, as your net worth grows those odds change accordingly in your favor. Until next time – it’s never too late to start from scratch.