This has to be one of the most inspirational personal finance success stories ever. They call him Mr. Earl the “super saver”. His story teaches us that with enough persistence, patience, discipline and focus, anyone can build wealth. Not only has he accumulated half a million dollars, but his home is paid off and does not carry any credit card debt. He has been a parking lot attendant for over 40 years and never earned more than a $25,000 per year.
There are NO EXCUSES for anybody in America or any other industrialized country to stay poor. You have to look in the mirror and realize that you are 100% responsible for your economic prosperity. You can’t blame the economy, politicians, family, society, the Easter bunny, etc. All of your financial dreams can become real if you are disciplined and determined.
It’s not always about making more money. More importantly, economic success depends on how you save and invest the money you currently earn. There are people who make 5 times more money than Mr. Earl, but still carry debt and are living one paycheck away from financial disaster. Just look the numerous millionaire athletes and entertainers who had to file for bankruptcy.
The masses are too concerned with getting a raise or a higher paying job. A high income will not make you wealthy if you have a poverty mindset. Mr. Earl was born into poverty but he had a wealthy state of mind. The way you think effects your finances more than any external forces. If you have a wealthy state of mind, then you will never be poor.
Getting rich in America is not rocket science. All you have to do is live below your means and consistently invest in index funds and/or blue chip stocks. Invest the majority of your money into income producing assets instead of frivolous consumer goods that depreciate in value. Saving and investing was the key to Mr. Earl’s success. He never worked very hard, he just put his money in the right position to work hard for him. Watch the video below to learn exactly how he accumulated his small fortune.