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Who are the "Hidden Millionaires" in small towns
Posted on 1/7/17 at 12:50 pm
Posted on 1/7/17 at 12:50 pm
Growing up, I was convinced that the only way you could make real money (70K+) was if you worked in a bigger city.
However, while in school I heard about these people called "hidden millionaires". Apparently, some small town people more money than they let on.
Is there any truth to this. Outside the medical professions, I don't really see how this would work.
Posted on 1/7/17 at 12:51 pm to volod
In Louisiana, its usually people with oil.
Posted on 1/7/17 at 12:51 pm to volod
Farming
Posted on 1/7/17 at 12:51 pm to volod
quote:
Apparently, some small town people more money than they let on.
Wait, there's people that don't flaunt their money and spend it like drunken sailors?
Posted on 1/7/17 at 12:52 pm to volod
quote:
Apparently, some small town people more money than they let on.
Is there any truth to this. Outside the medical professions, I don't really see how this would work.
Yes, they do exist. They own their own business.
Posted on 1/7/17 at 12:52 pm to volod
any small town millionaire I came across was from a family who owned a bunch of land in the area
Posted on 1/7/17 at 12:52 pm to volod
quote:
Is there any truth to this. Outside the medical professions, I don't really see how this would work.
Inheritance and an upbringing that denigrates flashiness.
Posted on 1/7/17 at 12:53 pm to volod
There are many of them. Not everyone who has money thinks that spending it lavishly on mansions and cars are the key to happiness. I know people that wear 20 year old sweaters and drive a Mercury Marquis that have millions in the bank.
Posted on 1/7/17 at 12:57 pm to volod
There are plenty of engineers, doctors, lawyers, etc. who make good money in small towns.
Posted on 1/7/17 at 12:57 pm to volod
Even the poorest parishes are going to have at least 3-4 land barons, whether in ag, oil, or timber.
Posted on 1/7/17 at 12:59 pm to volod
There are tons of hidden millionaires.
My mother was a teacher.
She died in May with a net worth over a million dollars.
It shocked me.
My mother was a teacher.
She died in May with a net worth over a million dollars.
It shocked me.
Posted on 1/7/17 at 1:00 pm to volod
Many plant workers can retire millionaires if they play their cards right with stocks, 401ks and pensions.
Posted on 1/7/17 at 1:01 pm to volod
People with land. They tend to own a lot of it and all think it's worth twice what it actually is. But yeah they got money.
Posted on 1/7/17 at 1:02 pm to volod
quote:
Who are the "Hidden Millionaires" in small towns
Posted on 1/7/17 at 1:09 pm to volod
There was a guy in Ruston that I used to see cruising around in a Viper. He looked like a hobo but he was loaded. I think he made his money with daiquiri machines.
Posted on 1/7/17 at 1:10 pm to volod
quote:
Who are the "Hidden Millionaires" in small towns
Millionaire Nextdoor
This is a great book if youve never read it
Posted on 1/7/17 at 1:14 pm to volod
Dave Ramsey says lots of people are millionaires and invest in things you don't see, like stocks.
Posted on 1/7/17 at 1:15 pm to volod
My dad is a multimillionaire and he was just a company man for Shell. Came from nothing and was very frugal his entire life because of his past. If you save and be smart with your money it's not hard to earn "millionaire" status.
Posted on 1/7/17 at 1:23 pm to volod
sure...pretty much anyone can become a millionaire over the course of a lifetime. just have to get a decent job and save aggressively. this allows you to avoid buying on credit, which eats up a hell of a lot of your lifetime earnings.
fwiw, those saying that farmers are all rich obviously don't know much about how that profession works. most farmers borrow inordinate amounts of operating cash every year with the goal of profiting what most of us would consider to be a pretty average paycheck when it is all said and done.
fwiw, those saying that farmers are all rich obviously don't know much about how that profession works. most farmers borrow inordinate amounts of operating cash every year with the goal of profiting what most of us would consider to be a pretty average paycheck when it is all said and done.
Posted on 1/7/17 at 1:25 pm to volod
quote:Yes. Research "The Millionaire Next Door".
Is there any truth to this
Lot's of very simple choices in life that can lead to accumulating wealth. "Keeping up with Jones'" is a big no no. Don't get divorced. Don't buy a new house every 5 years. Don't buy expensive cars. Save what you can.
Discipline being the key.
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