Anonymous
Anonymous asked in Business & FinanceInvesting · 5 months ago

Plenty of tradesmen and truck drivers make 60-80K, but you don't see many 'very' financially successful?

Contrary to what a lot of people might think, if you make 60-80K per year, depending on where you live, it is very easy to become a millionaire, certainly over the course of 40 or so years.

but how many 60 year old truck drivers are millionaires? it seems like they aren't the "rich" type despite having decent income from a relatively low age.

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  • 5 months ago
    Best answer

    homeless people who win the millions lottery are homeless within a few years. further support for the idea that poverty is the individuals fault; IQ plays a big role (tradesmen and truck drivers are likely, at least on average, on the lower end of IQ) and many of them probably drink, smoke and gamble

  • RICK
    Lv 7
    4 months ago

    I know many very financially successful tradesmen and truckers

    My ex brother in law is a retired plumber, mult millionaire

    My brother is just getting started but is doing very well as as truck driver

    My older brother drove a fork lift his entire working career and is very wealthy

    So your hypothesis is bogus

  • Judy
    Lv 7
    5 months ago

    you might be surprised. There are plenty of millionaires who aren't obvious about it.

  • 5 months ago

    I do not know how many are what you consider very financially successful. I do know few current employees are properly prepared financially for retirement.

    There are a few things you should consider in looking at people's financial success.

    (1) If a person does not have a pension having a million dollars saved for retirement at age 60 does not make a person well prepared for retirement. I retired a little less than 17 years ago and have already spent over a million dollars in retirement, and I have not nor spend lavishly since I retired. Since inflation will make dollars over the next 17 years less valuable than dollars over the previously 17 years, and since many people will live into their eighties and nineties, most people underestimate how much there will need to retire comfortably.

    (2) A lot of tradesmen and truck drivers will not be able to continue in their professions as long as you might think. Their bodies will be too worn out.

    (3) Many of us went to school when pensions were the norm so we were never taught how to invest for retirement or even the need to plan for retirement.

    Your concern is valid. As others have noted there are some who do not show their wealth, but for each of them there are multiple people who have not accumulated the wealth they will need in the future.

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  • Bryce
    Lv 7
    5 months ago

    I worked at a railroad. Some of the people spent their money as it came in, and a few saved, invested, and accumulated $1 to 2 million or more. Most were somewhere in-between.

  • Kenny
    Lv 7
    5 months ago

    People don't go around flaunting their wealth . A couple of guys researched this subject and wrote a book on what they found . The Millionaire Next Door, The Surprising Secrets of America's Wealthy .

  • ?
    Lv 6
    5 months ago

    If you ever drive deep out into the country and see these big nice houses on many acres & wonder who lives there because there's no jobs, its them.

    I had a pretty rednecky looking boyfriend who drove a truck & sometimes did construction management. Very smart and cultured person. The way people in my area looked at him was sick, they made less, had no education outside what school taught them & they thought they were better.

  • Kelley
    Lv 4
    5 months ago

    Many do not show their wealth

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