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How Arnold Schwarzenegger Totally Recalls making $20 million-dollar paychecks

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Strength does not come from winning. Your struggles develop your strengths. When you go through hardships and decide not to surrender, that is strength. – Arnold Schwarzenegger

Arnold Schwarzenegger is one of the biggest movies stars in the world. His iconic roles in The Terminator, Predator, Total Recall, and True Lies are just some of his hit Hollywood blockbuster movies. During the 80’s and 90’s he raked in big bucks at the box office and cashed in big paychecks at the bank as a result.

In my quest to study the self-made, I decided to read up on the “Governator” himself, Arnold Schwarzenegger.

I actually mentioned Arnold in a couple posts I wrote, Forget casinos, bet on yourself and Money Lessons I learned from Jay Leno.  Now, I am going to talk about how he became self-made.

Arnold wrote his autobiography, written in 2012, entitled, “Total Recall: My Unbelievably True Life Story.” Clocking in at 656 pages long, it is a massive read. I actually completed this undertaking last December 2017. It took me 3 weeks to finish reading from cover to cover. In the book, Mr. Schwarzenegger actually lists his paychecks for his hit films. At one point, he was making $20 million per film.

How did he do it? There is only one word to describe it: unbelievably.

Here is his story.

ALL GREAT STORIES HAVE GREAT BEGINNINGS

The mind is the limit. As long as the mind can envision the fact that you can do something, you can do it, as long as you really believe 100 percent. – Arnold Schwarzenegger

Arnold Alois Schwarzenegger was born on July 30, 1947, in Thal, Styria, Austria. His father, Gustav Schwarzenegger, served in World War II. Arnold’s mother, Aurelia, was working at a local shop when she spotted his father in uniform. That was all it took for her to fall for him as she loved a man in uniform. I must admit, so did I.

His parents married on October 20, 1945. His mother was 15 years younger than his father as she was 23. They were strict disciplinarians. Arnold said in Austria the rod was not spared if a child was disobedient. In the book, he said his father would make him and his brother earn their breakfast by doing pushups or sit-ups.  His father believed that the way to fix any problem was through discipline.

YOUNG EXUBERANCE

Arnold was an average student but, was popular and well-liked for his boundless energy, humor, and cheerfulness. He started playing sports and picked up his first barbell at age 14. He decided that bodybuilding would be his career. His deep interest in the sport took up almost all his spare time. At one point, he even broke into the local gym when it was closed and began to lift weights for a couple hours just to get in his workout.

Money was tight growing up. There was no inside plumbing or bathroom. They fetched water to bathe from a local well and one of the highlights of his youth was getting a refrigerator, where he said they would marvel at the opening and closing of the fridge door. When going shopping his mother only used cash and never bought anything other than the essentials.

Austrians believed in conformity and were not allowed to be individuals. However, Arnold had different plans. He was considered a rebel because he wanted to move to America and be rich. He stated he wanted to be somebody. Due to his rebellious tendencies and other issues, Arnold was never close to his father as his favorite was Arnold’s brother. However, he had a close relationship with his mother until her death.

A chance meeting at his bodybuilding coaches house would change his life. Arnold, in 1966, met bodybuilder and movie star Reg Park, his idol, and he went on to become his mentor. Schwarzenegger decided he would not only be a body builder, but also a movie star, just like Reg Park.

BARBELLS AND COMPETITIONS

Training gives us an outlet for suppressed energies created by stress and thus tones the spirit just as exercise conditions the body. – Arnold Schwarzenegger 

Arnold would work out almost every day. Lifting weights became an obsession. He would break into the gym on weekends when it was closed and work out.

He couldn’t stand to miss a workout. Arnold has said he couldn’t even look himself in the mirror, if he missed a workout. That is dedication. This was 1961. By 1965, all Austrian males, at the age of 18, are required to fulfill one year of military service, but Arnold had other plans.

AWOL BODYBUILDER

While in basic training, Arnold learned he was able to eat meat every day. Growing up, his mother had a garden where she would grow vegetables so she could feed her family on a tight budget. They rarely ate meat. Once he was able to get protein on the daily, he was constantly growing out of his uniforms. He went up a size every month and required a new uniform several times.

During his service, he learned basic tank mechanics, almost wreaked one by not putting it in park, and learned to ride a motorcycle. He said those skills would later serve him well while doing the Terminator and other films. Arnold learned to become pretty fearless. He was scared, but he would push ahead anyway.

During his time in the military, a Junior Mr. Europe Contest came up. He went AWOL and served a week in military prison because he chose to attend. But Arnold won that title.

He later received a job offer to work and train in a gym as a bodybuilder. He used this information and his past transgressions to convince the military to release him and he received an honorable discharge. That competition in Europe made him famous and the Mr. Universe title was his ticket to America-the land of opportunity, where he felt he could become rich.

CALIFORNIA BOUND AND HOLLYWOOD DREAMS

Arnold was happy to leave Austria as he had been telling people for many years as a kid he was going to America, but no one believed in his dreams. But the day came in October of 1968, when he was headed to California to train at the infamous Gold’s Gym in Venice, Los Angeles. He could barely speak English, but at the age of 21, was going to America to live and work.

Arnold was able to get a role in a film in 1969, “”Hercules in New York”, which paid him $12,000. He continued to train from 1970-1974 non-stop. In 1970, he won his first of seven, Mr. Olympia titles.

EDUCATION IS JUST AS IMPORTANT AS PHYSICAL FITNESS

In the 1970s, Arnold is enrolled in college throughout the decade. He bounced around to several taking math, English, science, and eventually earned his bachelor’s degree from the University of Wisconsin-Superior in 1979. It took about 10 years, but finally he had his college degree.

He also stated in the book he would write down his goals on an index card at the start of every new year.

At one time in his life, he met Pope John Paul II in 1983, they talked about workouts. The pope rose daily at 5 a.m. in order to stick to his regimen. It was something like 300 push-ups. If he could do it, this book says, you can do it, too. This is where I got the idea to start my daily fitness routine. I, personally, like boxing.

ALL ROADS LEAD TO HOLLYWOOD

All roads not only lead to Rome, but in Arnold’s case also to Hollywood, California.

OLYMPIC CHAMPION

Arnold also competed in the Olympics and won the title of Mr. Olympia 3 times. After the 1971-74 competitions, in 1975, filmmakers convinced him to do the bodybuilding film Pumping Iron.

SAVING MONEY AND INVESTING

The worst thing I can be is the same as everybody else. I hate that. – Arnold Schwarzenegger 

Arnold is big into frugality. He saved every dime he could from any winnings he made while competing. When he first got to America, he had $27,000. That is the equivalent of $173,000 (adjusted for inflation) in 2017. His motto was turn every dollar into two.

Arnold invested his money in real estate. He researched for 3 years and worked with an agent before finally setting his sights on putting a down payment on his four-unit apartment building at the cost of $214,000. Then he sold the building the next year for $360,000. Then immediately put his profits into a new 12 unit building. He did this to avoid the huge tax bills of his profits.

The Los Angeles real estate market was booming. You could make $100k profit in just a year or two.

Arnold then bought a 36 unit building, followed by a 100 unit building. Within about 10 years, Arnold Schwarzenegger was a real estate tycoon and millionaire.

This was close to 7-8 years before he would become a bankable Hollywood action star. He was able to be pickier and choose plum movie roles because he did not have to take any role that came his way. He always believed in going to the top. Go where its empty and you can chart your own path. He aimed to be the leading man.

CONAN

“The idea is not to live forever, it is to create something that will.” ― Andy Warhol.

After small roles in various film and television, he was offered the lead in his breakthrough film role of Conan the Barbarian in 1982. The movie was a hit.

Love the painted look.

Then he starred in the sequel, Conan the Destroyer, in 1984.

For me life is continuously being hungry. The meaning of life is not simply to exist, to survive, but to move ahead, to go up, to achieve, to conquer. – Arnold Schwarzenegger 

Arnold got to meet and work with lots of people. He feels that building relationships is key to having a successful, happy, and fulfilled life. Some of those people include, Linda Hamilton, Sharon Stone, Michael Ironside, Vanessa Williams, and the late Andy Warhol.

THE TERMINATOR

I’ll be back. – Arnold’s famous line as The Terminator

Arnold was offered a role in a film where there is a futuristic war between man and machines. At the meeting, with Gale Anne Hurd (The Walking Dead) and James Cameron (Avatar), he was convinced that the role of the T1 was pivotal, if the film was to be a success.

He was right. Listen to Ah-nuld! I just watched the film a few weeks ago. It still holds up.

Here’s one of my favorite scenes from the film; it’s Kyle Reese, played by actor Michael Biehn. He did an incredible job as he also did in the film Aliens.

Arnold Money Lesson: When Arnold met his future wife, Maria Shriver, he accidentally left his wallet at home. She had to write him a check for $70, to pay his train ticket home. He paid her back and wrote her a thank you note. In addition, he learned a valuable lesson. Always have cash. From that moment on, he would carry $1000 cash and a high or no limit credit card. He learned the motto of this blog, that cash is king.

He then decided to do a film by new first time director, Jim Cameron, called The Terminator.  It went on to gross $80 million and Arnold was officially a bonafide movie star.

Fun Fact: Arnold likes to tell jokes. He decided early on that his films should include quips that are memorable one-liners and catchphrases.  Like this, “Hasta la vista, baby” — Terminator 2: Judgment Day.

I actually heard that same phrase in a Jody Whatley song Looking For A New Love from her self-titled 1987 album. That was 4 years before T2.

HOLLYWOOD MAKING IT RAIN DOWN ON ARNOLD

“Money doesn’t make you happy. I now have $50 million, but I was just as happy when I had $48 million.” – Arnold Schwarzenegger

From there it just keeps getting better. He’s a hit factory and the paychecks got bigger and bigger. Arnold made $250,000 for Conan and $360,000 for Conan 2. Then took a pay cut for The Terminator, at $75,000.  Arnold earned $1.5 million for 1985’s Commando, $3 million for 1987’s Predator and $8 million for 1988’s Red Heat. Bang, bang, bang! That’s all money in the bank.

He hit the deca-million ($10 million USD) paycheck mark with Total Recall in 1990. Then made $15 million for Terminator 2 and True Lies. Arnold eventually hit a $20 million-dollar payday in 1996 with Eraser. Yes, that’s US Dollars!

Source: themovietimes.com

He is estimated to have a net worth around $400 million dollars.

And there you have it.

At the end of the book, he also listed Arnold’s Rules for Success.

Here is Arnold talking Life’s 6 Rules during the Governor’s 2009 USC Commencement Address. He said be unique, be a maverick. Maybe even an outlier?

How being an outlier can make you rich

So let’s recap…

  • Start with a dream
  • Write it down
  • Say out loud what you want to do or be
  • Work hard
  • Break the rules, not the law
  • Don’t be afraid to fail
  • Exercise
  • Weight lifting builds muscles and confidence
  • Trust yourself
  • Ignore the naysayers
  • Save and invest
  • Real estate can make you a fortune
  • Financial independence equals freedom
  • Give something back
  • Turn every dollar into two