Comments by "donaldlyons17" (@donaldlyons17) on "How to Be a Millionaire on a Low Salary" video.

  1. Why is it that people making videos forget about infraction when that effects purchasing power.
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  2. Yep that is how you make 10$ an hour but can end up with 1 million. He did not count all his income sources!!!!
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  3. Not that simple because one needs the income! Many online make 30k or less each year!
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  4. What you say is true but you do realize many of the bigger youtubers had 40-50K while living on a lot less. It is almost impossible to make high quality stuff without money and those who did not make it are not the ones with the high view counts. Switching career paths is a lot more difficult than people make it seem because ability and skill are both needed.
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  5.  @KrisVic91  I would agree with you 16K GBP or 16K USD are both lower incomes compared to 65K. There is another problem too side hustles and switching jobs may or may not be profitable. I think he picked that number b/c a family of 4 may average 65K but the picture for the video is 10 USD turning into 1 million. These youtubers must know a significant percentage of their audience is making very low income or why else did the thumbnail not show the equitant of 65K in dollars per hour.
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  6. They are assuming a 4% compounding each year.....
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  7. That depends on your expense and income difference. But I feel you I only have 39K after more than 10 years. I need a real job and to save at least 1K each month to even have a shot at reach 100K by 65.
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  8. It is not many at all only about 1% of 22 years olds make 100K yearly. 👀
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  9. Yeah the difference in savins rate but in terms of returns the difference is 5%...
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  10. Well that depends on conditions but normally your right!!! The most I have heard someone end up with 12$ an hour and 500K investment account. That was amazing but I think they were likely the only wage earner.
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  11. Even with 2 to 3K each month for many still it will not work....
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  12. If he could save money they could not have been drowning him. No one bothered to find out if he had additional income sources?
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  13. They are also assuming 8% return on average for the entire 45 years. And you right the minimum to reach that is 200 each month.
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  14. WHAT ALL YOU WERE NEEDING TO DO WAS SELL STUFF FOR MORE THAN YOU BOUGHT IT FOR.... All that other stuff was likely not very important. Also it takes some meanness to sell people housing since they need a place to live even if they can't / don't pay!!! WTF
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  15. Well no some people just will never be in a good situation to get wealthy. Money only works in so many ways....
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  16. In part because that seems like that was not all he was making. If I remember right he was paid way more than the legal minimum. SO no he could live on less than he was making but today at the legal minimum is impossible.
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  17. Yeah right income matters not just behavior!
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  18. Yep he made good incomes and had low expenses. SO much of outcome it just luck and not behavior but no YouTuber talks outcomes based on conditions....
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  19. What does most people have to do with someone being able to save, invest or whatever below the poverty line? Who you know making equal to the poverty line who is not broke in old age depending on S.S. and Pensions?
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  20. That still might not make type majority a millionaire. If wages are 50K many have only made a few million in a life time.
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  21. For certain cities and states it is. I know more than one person in CA that struggle making a little less. However outside of the exceptions that income seems super good.
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  22. A good job and future good jobs is the key!!!! Income will allow for options most people can't save and invest their way out of finincial issues.
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  23. Yep the answer was he was not making minimum wage. In 2009 I made $12 an hour while the minimum wage was $9. The difference in buying power was large enough to both live on my own without any assistance and pay a 35K school loan off too at the same time. On $9 that would have all been impossible. Also I think Reed was former military, worked an ok paying job, and never had any major huge expenses..... all good factors in his favor.
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