A McDonald's worker earning minimum wage can become a millionaire by saving 10% of their income from age 18 to 60. Daron Pacheco shows how a doctor earning $500k but spending $490k ends up poorer than a disciplined low-wage saver. Income matters less than what you actually keep.
we just talk about, you know, always talk about like, who here wants to be a millionaire, right? What a great opening statement. And so everybody raises their hand. And then I talk about, okay, if you're a doctor, how many people here think a doctor can be a millionaire? And every single person raises their hand. And the next question is like, okay, how many of you think someone working at McDonald's can be a millionaire? And nobody raises their hand. And so you talk about no matter how much money you make, That whole 10-10-80 rule. If you can save 10% of everything that you make going forward from 18 to 60 years old, it's really hard not to be a millionaire.
And it makes me think of, say, a doctor. Say they make half a million dollars in a year, but they spend $490,000 on random things. They're not making any— like, they're more broke than the person working at McDonald's. Like, how you spend your money is just as important.
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