Millionaire HS Dropouts

• Con_Alma

  Jay-Z (Shawn Carter) Def Jam Records
  
  Carl Lindner United Dairy Farmers
  
  George Foreman, Boxer Naming rights
  
  Simon Cowell Record label Owner @ 23
  
  Gisele Bundchen Model
  
  David Murdock Dole Foods, Hawaii Real Estate
  
  Richard Branson Started an arts and culture magazine and mail order record retailer Virgin
  
  Jim Clark founded Silicon Graphics, Netscape, Healtheon and Shutterfly.
  
  http://www.forbes.com/2010/01/30/millionaires-without-high-school-diplomas-entrepreneurs-finance-millionaire_slide_9.html
  
  Stay in school kids. You might not be so lucky and beat the odds.
• LJ

  

  Add my grandpa to the list who had the #1 property development and apartment management company in Columbus in the 60's, 70's and 80's.
  
  He dropped out of high school when my dad was born, the very beginning of his senior year. Back then they had "management" programs at companies because not everyone went to college. He got into the Big Bear management program and saved his money until 1960 and started his own company.
  
  My grandma got her GED in 197x but my grandpa never did.
• Con_Alma

  In 1938 my father dropped out of HS to assist his parents in putting food on the table. After returning from WWII he finished and the put himself through college becoming a metallurgical engineer. He had a work ethic like I have yet to again experience and wealth that was greater than most of his peers. He never had a mortgage nor a personal loan of any kind. He applied for his first credit card after my mother died in 1984 because we forced him to when he began traveling extensively. What he spent, or didn't, was more important in establishing his wealth than what he earned.
• Sage

  

  That list would make up .00000000000000000000000000000000000000000001% of people who have dropped out of high school.
• SQ_Crazies

  

  Sage wrote: That list would make up .00000000000000000000000000000000000000000001% of people who have dropped out of high school.

  Not to mention, a million dollars ain't shit anymore.
• Sage

  

  Eh, I mean, a million dollars is still a lot of cash.
  
  If you handed me a million dollars, I wouldn't work a day in my life. That's for sure.
• ZWICK 4 PREZ

  

  SQ_Crazies wrote:

  Sage wrote: That list would make up .00000000000000000000000000000000000000000001% of people who have dropped out of high school.

  Not to mention, a million dollars ain't shit anymore.

  I'd take it if you're giving it away.
• Con_Alma

  That list wasn't designed to represent the percentage of people who dropped out of HS.
  
  In addition, those people are worth a lot more than a million dollars.
• I Wear Pants

  Sage wrote: Eh, I mean, a million dollars is still a lot of cash.
  
  If you handed me a million dollars, I wouldn't work a day in my life. That's for sure.

  And you would live pretty damn modestly.
• lhslep134

  

  A million dollars, invested in the right way, would definitely allow a family to live very comfortably without working again, so yes, I would gladly take a million bucks.
• LJ

  

  lhslep134 wrote: A million dollars, invested in the right way, would definitely allow a family to live very comfortably without working again, so yes, I would gladly take a million bucks.

  If you are planning on living on money long term your "safe" investments are only yielding about 4% right now, or 40k per year.
• O-Trap

  

  Add my old boss to the list.
  
  It's extremely rare, though.
• Con_Alma

  LJ wrote:

  lhslep134 wrote: A million dollars, invested in the right way, would definitely allow a family to live very comfortably without working again, so yes, I would gladly take a million bucks.

  If you are planning on living on money long term your "safe" investments are only yielding about 4% right now, or 40k per year.

  
  ...and then you most likely would pay income taxes on that $40,000.
• SQ_Crazies

  

  Didn't say I wouldn't take a million lol, but it really isn't that much money anymore.
• darbypitcher22

  

  I think I could turn a million into a lot more than a million if invested the right way in the right stocks and stuff. I would live VERY modestly for having that money, maybe buying a car and a Condo but that would be about it
• I Wear Pants

  lhslep134 wrote: A million dollars, invested in the right way, would definitely allow a family to live very comfortably without working again, so yes, I would gladly take a million bucks.

  For how long? Fifty thousand a year would be spent in 20 years.
  
  And it's not like all the people who lose tons of money on stocks/bonds/funds/whatever are ratards. It just isn't as easy to make money off the markets as people would like to think.
  
  But yeah, if anyone feels like giving me the million bucks I am entitled to that would be great.
• Glory Days

  

  I Wear Pants wrote:

  lhslep134 wrote: A million dollars, invested in the right way, would definitely allow a family to live very comfortably without working again, so yes, I would gladly take a million bucks.

  For how long? Fifty thousand a year would be spent in 20 years.
  
  And it's not like all the people who lose tons of money on stocks/bonds/funds/whatever are ratards. It just isn't as easy to make money off the markets as people would like to think.
  
  But yeah, if anyone feels like giving me the million bucks I am entitled to that would be great.

  where did you get $50,000 a year? you could buy a house and car for $200,000 and be done in year one. and still have $800,000 to live off of. which unless you go crazy spending, can last almost 50 years. then again, depending if you want to have a wife and multiple kids, that might come down.
• pinstriper

  My friend just won a million bucks...after cutting a check to the feds and state for a total of approx 350,000, she's putting the rest up. She's 28 yrs old and used to making 70 - 80,000/yr. There's no way she can just sit on it and not work the rest of her life, and she knows it. She's looking right now for another job. She'll buy a car cash, take a very very very nice vacation, donate a good amount to her church, and invest the rest. Everyone says if they win a million dollars they'd do this or they'd do that, but until they actually do it, and see how much they gotta pay in taxes and where it really leaves them and such, it doesn't take you that far these days. Unless you're used to living on 25,000/yr - good luck.
• hang_loose

  I'm not sure but should Dave Thomas(Wendys) be on the list?
• iclfan2

  

  If I won a million I'd buy a better car, pay taxes and bank the rest. I'd keep my tiresome job but feel better knowing I can retire much sooner. Make that compounding interest work for me.
• dwccrew

  

  My uncle dropped out of high school in the early 70's and is now worth several million dollars. Just like LJ's grandfather, my uncle made his money in the real estate industry (rentals and flipping property).
• I Wear Pants

  Glory Days wrote:

  I Wear Pants wrote:

  lhslep134 wrote: A million dollars, invested in the right way, would definitely allow a family to live very comfortably without working again, so yes, I would gladly take a million bucks.

  For how long? Fifty thousand a year would be spent in 20 years.
  
  And it's not like all the people who lose tons of money on stocks/bonds/funds/whatever are ratards. It just isn't as easy to make money off the markets as people would like to think.
  
  But yeah, if anyone feels like giving me the million bucks I am entitled to that would be great.

  where did you get $50,000 a year? you could buy a house and car for $200,000 and be done in year one. and still have $800,000 to live off of. which unless you go crazy spending, can last almost 50 years. then again, depending if you want to have a wife and multiple kids, that might come down.

  50K * 20= 1 million
  
  If you spent fifty thousand dollars a year, which isn't all that much, you'd have zero money left after 20 years.
  
  Of course a lot of the money people spend is mortgage and such so I get that your living expenses would be dramatically lower and you'd also be able to make some money in interest so it could last longer than that.
  
  But it's not as if a million dollars lets you live luxuriously for an entire lifetime especially if you have a family.
• LJ

  

  Glory Days wrote:

  I Wear Pants wrote:

  lhslep134 wrote: A million dollars, invested in the right way, would definitely allow a family to live very comfortably without working again, so yes, I would gladly take a million bucks.

  For how long? Fifty thousand a year would be spent in 20 years.
  
  And it's not like all the people who lose tons of money on stocks/bonds/funds/whatever are ratards. It just isn't as easy to make money off the markets as people would like to think.
  
  But yeah, if anyone feels like giving me the million bucks I am entitled to that would be great.

  where did you get $50,000 a year? you could buy a house and car for $200,000 and be done in year one. and still have $800,000 to live off of. which unless you go crazy spending, can last almost 50 years. then again, depending if you want to have a wife and multiple kids, that might come down.

  The budgeting nerd in me had to do this...
  
  800k/50= $16000
  Car insurance and registration yearly= 550
  Property tax and insurance on 165k house= 3000
  Utilities= 200 per month- 2400
  Cable internet and phone- 100 per month- 1200
  -------------------------------------------------------------
  
  8850 or 737 per month to spend on everything else. Totally doable.
• tk421

  

  LJ wrote:

  Glory Days wrote:

  I Wear Pants wrote:

  lhslep134 wrote: A million dollars, invested in the right way, would definitely allow a family to live very comfortably without working again, so yes, I would gladly take a million bucks.

  For how long? Fifty thousand a year would be spent in 20 years.
  
  And it's not like all the people who lose tons of money on stocks/bonds/funds/whatever are ratards. It just isn't as easy to make money off the markets as people would like to think.
  
  But yeah, if anyone feels like giving me the million bucks I am entitled to that would be great.

  where did you get $50,000 a year? you could buy a house and car for $200,000 and be done in year one. and still have $800,000 to live off of. which unless you go crazy spending, can last almost 50 years. then again, depending if you want to have a wife and multiple kids, that might come down.

  The budgeting nerd in me had to do this...
  
  800k/50= $16000
  Car insurance and registration yearly= 550
  Property tax and insurance on 165k house= 3000
  Utilities= 200 per month- 2400
  Cable internet and phone- 100 per month- 1200
  -------------------------------------------------------------
  
  8850 or 737 per month to spend on everything else. Totally doable.

  Heck, that's not even counting interest you could earn on that 800k. I'd totally take that deal.
• LJ

  

  tk421 wrote:

  LJ wrote:

  Glory Days wrote:

  I Wear Pants wrote:

  lhslep134 wrote: A million dollars, invested in the right way, would definitely allow a family to live very comfortably without working again, so yes, I would gladly take a million bucks.

  For how long? Fifty thousand a year would be spent in 20 years.
  
  And it's not like all the people who lose tons of money on stocks/bonds/funds/whatever are ratards. It just isn't as easy to make money off the markets as people would like to think.
  
  But yeah, if anyone feels like giving me the million bucks I am entitled to that would be great.

  where did you get $50,000 a year? you could buy a house and car for $200,000 and be done in year one. and still have $800,000 to live off of. which unless you go crazy spending, can last almost 50 years. then again, depending if you want to have a wife and multiple kids, that might come down.

  The budgeting nerd in me had to do this...
  
  800k/50= $16000
  Car insurance and registration yearly= 550
  Property tax and insurance on 165k house= 3000
  Utilities= 200 per month- 2400
  Cable internet and phone- 100 per month- 1200
  -------------------------------------------------------------
  
  8850 or 737 per month to spend on everything else. Totally doable.

  Heck, that's not even counting interest you could earn on that 800k. I'd totally take that deal.

  The interest would cover the money you take out yearly and you would be able to keep up with inflation most likely.