The $2.5 Million Janitor
How jack amassed $2.5 million dollars on a Janitor salary
The Afford
September 10, 2023
Jack spent his entire life in school yet never had more than a high school diploma. But that didn’t stop him from achieving millionaire status.
Two weeks after graduating high school Jack got a job as a janitor in the same place where he had taken classes and played football for the last four years. Jack was not interested in college or pursuing a career – he enjoyed his small town, and his small school, and never missed a football game on Friday nights.
Jack lived a very simple life. He owned a small house where he lived with his wife and son. He drove the same pickup truck for 20 years. He never earned a lot of money – nor did he need a lot. Jack was good at fixing cars and often took on small jobs for extra cash.
Jack was also good at saving his money.
Jack saved and invested $100 per week into a total market stock fund every single week for 40 years.
Jack retired at the age of 60 and he had amassed over $2.5 million dollars.
That is the power of compound interest.
Just $100 per week over 40 years invested at the average return of the S&P 500 will make you a millionaire.
The Breakdown
WORTH SHARING 👇
Over the summer, I spent 10 days traveling around Norway with my parents and 30 other retirees in their 60s and 70s.
5 lessons about wealth, family, and health.
(the last one is my favorite)
— Annie (@investingbff)
Sep 7, 2023
The poor trade their time for money
The wealthy trade their money for time
— (FI)nance Man (@financeman_)
Sep 8, 2023
To save $1,000,000 in 40 years, you’d need to contribute $990,000 of your own money.
But-
To get to $1,000,000 invested in 40 years, you’d need to contribute about $137,000 of your own money.
Get invested.
— Dividendology (@dividendology)
Aug 10, 2023