Just one huge monthly payment could be killing your ability to build wealth. He hit the nail on the head with that statement.
I have first-hand experience with this one. I shared my experience on how I put like $200,000 in my retirement accounts just from paying off my $448.65 monthly car payment.
Cars are a financial suck for sure.
The average car payment in US is now $499. That is straight up stupid. That much invested would be over $5M at retirement.
The FT is basically doing the math that consumers need to do before making any major purchases like a new car. It was noted that, “The quality of the car park has gone up.” Meaning if you walk down many British streets you are more likely to see expensive cars.
That came straight from a report from the Federal Reserve Bank of New York stating Americans are unable to pay their bills.
Considering that the jobs report that recently came out stating job growth has surged by 266,000; it is missing key metrics in regards to whether or not families are staying above the poverty line.
If you are working multiple jobs and in line at the soup kitchen because you can not make ends meet, then something is seriously wrong.
For families that are employed, they have to get back and forth to work. Meaning a car is almost a necessity these days.
California Dreamin’ is better in a Mercedes-Benz than a Hyundai
The West Coast is infamous for its pricey luxury cars. Especially in places like California. Think Fast and the Furious.
Did you see Vin Diesel rolling around in a Prius?!!! Of course not.
Lift up the hood of any of those cars and you could find $100,000 worth of product.
As the F&F series progressed, the cars got more expensive not less!
Movies are prone to production inflation just as individuals are to lifestyle inflation.
For example, the 2014 Audi R8 featured in Furious 7 has a 4.2 coupe with manual transmission starts around $119,150 while the V10 model starts at $155,450, each including destination fees and a $3,000 gas-guzzler tax. Say what??!!!
And my favorite on the Fast & Furious list, the Lykan Hypersport, which was been unveiled at the 2013 Qatar Motor Show. W Motors will limit numbers of the car, which it heralds as “the first Arabian hypercar,” to just seven, each priced from US$3.4 million. What the heck will an oil change cost on this beast?!
Lycan Hypersport
Did the cast of The O.C. drive down to Tijuana (TJ as they called it) in a Kia? Absolutely not! Those young high rollers were riding around in high-quality luxury vehicles!
Places like San Diego and Silicon Valley do not have a mass public transit system the likes of the ones on the East Coast in New York or Washington DC metro. No sir. Those folks have to drive.
And if you have to drive everywhere from the In-And-Out Burger to CVS, then who wants to sit all day in traffic rolling around in a tiny Chevy Malibu.
You want the creature comforts you have at home on the road.
You are willing to buy all you can afford if you have to drive around every day in a car.
I understand why people are shelling out BIG BUCKS on the West Coast to drive Cadillac Escalade’s and BMW’s. Not only are they impressive driving machines, but comfortable too!
Luxury cars have a price beyond just the pricetag
Prestige vehicle sales are driving borrowers bankrupt. If you have to put $500, $600, $700 or even $900 into one household bill on top of a mortgage, then you can drive yourself right into the poorhouse quite literally!
Let’s do a little math. If you save $500.00 per month, your savings may grow to $2,797,302.30 after 40 years. This includes a starting balance of $0.00 and a 10% annual rate of return.
Starting amount
$0.00
Years
40 years.
Additional contributions
$500.00 per month
Rate of return
10% compounded annually
Total amount you will have contributed
$240,000.00
Total interest
$2,557,302.30
Total at end of investment
$2,797,302.30
That is a high price to pay just to have the BMW emblem on your steering wheel.
A lifetime of luxury car ownership and payments can leave your savings tank on $0.
Don’t do it.
With more American retirement savings on life support or at $0, you can make sure this doesn’t become your fate.
Forget buying expensive fast cars. I’d rather you drive a paid off Honda and get rich slow.
“Success isn’t always about ‘Greatness’, it’s about
consistency. Consistent, hard work gains success. Greatness will come.” –
Dwayne Johnson
Well unless you have been living under a Rock, then you have
heard of the name Dwayne “The Rock” Johnson.
One of the most successful wrestlers to come out of the WWE of all time.
The Rock is an inspiration to millions with his good
attitude, humility, and great sense of humor. One of the hardest working men in
show business today.
If there is a movies coming out, then The Rock either
auditioned for, saw the script, produced, or is starring in it. I mean the guy
has a movie coming out like every two weeks!
He recently made headlines in January 2019 for not getting
cast in Crazy Rich Asians?!!
As he worked with the film’s director, Jon M. Chu, in the 2013 sci-fi action film “G.I. Joe: Retaliation,” with Bruce Willis.
Regardless, The Rock isn’t low on cash by any means.
He has an estimated net worth of over $150 Million.
On my continued journey toward studying the self-made, the
man du jour is Dwayne Johnson.
Full Disclosure: I located numerous interviews, read magazine articles, and reporting on The Rock. One of the best came from Wonderwall.
So here we go.
Get your popcorn ready cause this is a long one.
I’m about to open up The Rock’s wallet and give you a peek
inside.
Let’s smell what The Rock is cookin’ in his bank books shall we?
THE ROCK BEGINS: CAUGHT BETWEEN A ROCK AND A HARD PLACE
Dwayne Johnson, was born in California on May 2, 1972. Although he grew up poor in Hawaii, he is now one of the richest men in Hollywood, but the poverty he faced during his childhood is never far from his mind.
Case in point, On Thanksgiving 2017, The Rock revealed in a lengthy Instagram post that “there was a time back in ’87 when we couldn’t even afford Thanksgiving dinner and [were] praying someone would invite us over their house to eat.”
Due to his father’s work as a professional wrestler, the
family was constantly in flux and bouncing around from place to place.
Wrestling is in The Rock’s blood.
Wrestling is actually the Johnson family business — his
father Rocky Johnson was a star in the 1970s and ’80s, while his Samoan
grandfather Peter Maivia was famous in the 1960s.
As his mother was unable to keep a steady job because of this, they went through hard times.
HARD KNOCK LIFE
In another IG post, in May 2015, the wrestler-actor revealed on Instagram that “when I was 14yrs old we were evicted out of our apartment in Hawaii ’cause we couldn’t afford the $180 per week rent.”
In 2014, he told The Hollywood Reporter that a week before
they were evicted, he watched his mother’s car get repossessed. He reportedly
added to her troubles by joining a theft ring that targeted affluent stores in
Waikiki.
In addition, he stated in another interview that they were
so broke that his mother doesn’t remember walking out into incoming traffic
before he pushed her out of the way.
It was at that moment he decided to make changes in his life. He said to himself, “What can I do with these two hands?” That is when he decided to start working out.
“The successful men I knew were men who built their bodies.” – The Rock
He also stated while growing up people thought he was a girl and that they referred to him as one “all the time.”
KICK ROCKS
“I’ll never, ever be full. I’ll always be hungry. Obviously,
I’m not talking about food.
Growing up, I had nothing for such a long time.” – The Rock
The Rock is now one the biggest movie stars in the world.
But before the A-list super-stardom and even before his WWE debut, Dwayne
Johnson was just a guy that was down on his luck.
He decided that he wanted to play football. He worked
tirelessly and gave everything he had to the sport. His hard work paid off.
Johnson was a promising football prospect and received
offers from many Division I collegiate programs. After finishing high school in
Pennsylvania, he went on to play college football. He decided on a full
scholarship from the University of Miami, playing defensive tackle. In 1991, he
was on the Miami Hurricanes’ national championship team.
The 6-foot-5, 290-pound Johnson started only once, appearing
in 39 games with a total of 77 tackles and 4.25 sacks. With muscles on top of
muscles, he was a sight to behold. He was a physical specimen from Day 1.
It was once quoted about The Rock, “He was a
jack-of-all-trades, but only a master at wrasslin’.
Ed Orgeron, University of Miami defensive line coach
(1989-1992), once had this to say about The Rock.
“His uncle was Jimmy Snuka, he came from a wrestling
family. So we knew about that.
“I remember one-day walking off the field, he hadn’t
had a good day and I said something like, ‘You know, Dwayne, you should just
become a wrestler.'”
Warren Sapp, NFL pro football 2013 Hall of Famer, said this of
playing football with The Rock.
“So we used to joke with him by saying, ‘When you get
done with football, you’re going to go into wrestling, right?’
“And he’d say: ‘Damn right, bitch.’
Everyone always had the same thing to say about Johnson, he
was charismatic, humble, and down-to-earth.
The Rock would go on to complete a bachelor of general studies degree. But his football career was coming to an end around the same time his academic career did.
WRESTLING WITH $7 BUCKS
“1995. $7 Bucks In My Pocket. I Knew Two Things: I’m Broke
As Hell and One Day I Won’t Be” – The Rock
In 1995, Dwayne Johnson signed with the Canadian Football
League’s Calgary Stampeders at a yearly salary of $35,000. According to The
Hollywood Reporter, after just two months, he got knocked down to the practice
team, which paid just $250 a week.
That had to hurt!
During that time, he reportedly shared a two-bedroom
apartment with three other players, “eating ramen noodles and spaghetti
and sleeping on a filthy mattress he had found ditched outside a
pay-by-the-hour sex motel,” wrote THR. When he was cut from the team not
long after that, he had just $7 to his name.
This is when he decided to become a wrestler. He begged his
father to show him the ropes. Get it 😉
Dwayne Johnson made his WWE debut in 1996, becoming the first third-generation wrestler in the league. (His father, Rocky Johnson, and his maternal grandfather, Peter Maivia, were both professional wrestlers.) He quickly became one of the sport’s biggest stars. According to Fortune, during his second year in the WWE, The Rock made enough money to accomplish a childhood dream: He bought his first Rolex. (He smashed the $35,000 timepiece in the ring just a week later.)
I mean, wow!
“When You Walk Up To Opportunity’s Door: Don’t Knock It.
Kick That Bitch In, Smile and Introduce Yourself” – The Rock
Dwayne Johnson officially transitioned to Hollywood in 1999,
the year he played a version of his father, wrestler Rocky Johnson, on
“That ’70s Show,” where he got to act out with Topher Grace as Eric
Forman.
The following year, he channeled his wrestling alter ego
(complete with cocked eyebrow) to portray an alien gladiator on an episode of
“Star Trek: Voyager.” A month later, he hosted “Saturday Night
Live” for the first time. Each of these television appearances — as well
as a few others — helped him prove his acting chops and win fans outside of
the wrestling world.
The people’s champ was becoming the acting champ.
Things started really moving steadily from there for The
Rock.
In 2000, Dwayne Johnson released his memoir “The Rock Says…,” which debuted at No. 1 on The New York Times bestseller list.
Keep in mind, Writing isn’t generally a high-paying
gig—unless you happen to be the top-selling author.
Fun Fact: While this gains the coveted “NYT BESTSELLER” status for the authors, it doesn’t net a lot of money. There are weeks in the year where you can make the NYT list with as few as a couple of thousand sales.
According to Career Trend, Given the royalties of a standard
contract, an author selling 20,000 books priced at $25 would earn $65,625 the
first week on the “New York Times” best-seller list. This is not
quite the millions superstar authors bank, but if the book continues to sell,
these earnings add up to an impressive income.
Then The Rock hit pay dirt. He booked a starring role in a major Hollywood film.
In 2001, Dwayne Johnson made his feature-film debut as The Scorpion King in “The Mummy Returns.” He reportedly banked $500K for his brief appearance in the action-adventure sequel to 1999’s “The Mummy.” His work in the film was so popular, he scored his own spinoff.
THE BUSINESS OF BEING THE ROCK
The Road To Success and Greatness Is Always Paved With
Consistent Hard Work. Outwork Your Competitors, Be Authentic And Above All
Else. Chase Your Greatness” – The Rock
Dwayne “The Rock” Johnson rose to fame thanks to his exploits in the pro wrestling ring and got his first big break in the movie business as the Scorpion King in 2001’s “The Mummy Returns.”
He holds the Guinness World Record for highest paid for a
movie debut, as he received a $5 million-dollar paycheck for his role.
In 2004, Dwayne Johnson left the WWE to focus on his Hollywood acting career. The following year, he earned raves for his performance as a gay cowboy bodyguard and aspiring actor in “Be Cool.” Further signaling his transition from professional wrestler to serious actor, he was credited as Dwayne “The Rock” Johnson instead of just “The Rock” for his work in 2006’s “Gridiron Gang.” With 2008’s “Get Smart” — at the urging of his agents at CAA — he officially changed his stage name to Dwayne Johnson.
CAA, short for Creative Artists Agency, is also one of the
biggest entertainment agencies in the world.
GIVING BACK
“I Like To Use The Hard Times in The Past, To Motivate Me
Today” – The Rock
In 2006, Dwayne Johnson and then-wife Dany Garcia, who fell
in love while they were students at the University of Miami, donated $2 million
to their alma mater to help fund a renovation to the school’s alumni center. In
2007, they donated $1 million to the college’s Football Facilities Renovation
Fund, which was reportedly the largest donation ever from a former student to
the university’s athletic department. The University of Miami renamed their
football locker room in his honor: It’s now the Dwayne “The Rock”
Johnson Football Locker Room.
If that is not karma coming full circle, then I do not know what is! From getting cut from a football team to having a university athletic department named after you. Totally badass!!!
PERSONAL DIFFERENCES
In 2008, Dwayne Johnson and college sweetheart Dany Garcia
divorced after 10 years of marriage and one daughter, Simone. The same year
they split romantically, Dany became her ex’s manager. “I was already
deeply involved with his agents, I was already commenting on scripts. It was a
very natural conversation, where he just said to me, ‘I would love for you to
do this full-time,'” she told Marie Claire in 2017.
PERSONAL DIFFERENCES ASIDE, KEEP ON TRUCKING…ALL THE WAY TO THE BANK
In 2010, Dwyane Johnson portrayed star police officer Christopher Danson in “The Other Guys.” He reportedly earned $9 million for his role in the action-comedy…. even though (spoiler alert!) his character gets killed off just 15 minutes into the movie.
Dwayne Johnson executive produced the 2010 documentary
“Racing Dreams.” The film, which centers around young drivers chasing
the kart racing championship title, marked The Rock’s debut as a producer.
I mean, does this guy ever stop working?!!! Now he’s a
producer.
In 2011, Dwayne Johnson parted ways with CAA, whose agents
had urged him to distance himself from the wrestling world. He signed with WME
and legendary agent Ari Emanuel (on whom Jeremy Piven’s “Entourage”
alter ego, Ari Gold, is based), and officially returned to the WWE that
February.
You see that. He trusted his instincts and listed to himself, not just the advice of his management team. Others may help you along your journey, but ultimately you make the final decision. ALWAYS!!!
He appeared in a number of big WWE events over the course of
the next few years and, according to some reports, banked $3.5 million per year
for his efforts. Apparently, he was worth every penny: “We set
pay-per-view buy-rate records and attendance records each time,” he gushed
to Fortune of his big return to the WWE. In April 2016, the league confirmed
that WrestleMania 32 set a new attendance record for the WWE with 101,763 fans
in the crowd at AT&T Stadium in Arlington, Texas.
Would you look at that?
Setting records. Smacking down candy asses. Being eye candy.
Raising eyebrows and rising paychecks.
That is my description of The Rock!!
FAST AND FURIOUS MONEY
“Let Actions Do Your Talkin For You, (Unless You’re Telling A Good Dirty Joke)”
In an Essence magazine article, he was asked what he was wearing while talking over the phone. His answer: A thong. Backwards. 🤣Your boy has got jokes!!!
The Rock is now taking life a quarter mile at a time.
In April 2011, Dwayne Johnson made his film-franchise debut as Luke Hobbs in “Fast Five.” At the time, the fifth installment in the “Fast & Furious” franchise had the top opening weekend of any film ever to open in the month of April, though that record has since been beat. He went on to appear in the next three films in the series and has become such a fan favorite that he and Jason Statham scored their very own spin-off movie, “Hobbs and Shaw,” which is scheduled for release in the summer of 2019.
SEVEN BUCKS PRODUCTIONS
In 2012, Dwayne Johnson and ex-wife Dany Garcia co-founded their own production company, Seven Bucks Productions — a nod to that time the wrestler-actor found himself with just $7 to his name after getting the boot from the Canadian Football League. The company has produced several of The Rock’s recent films including “Jumanji: Welcome to the Jungle,” “Baywatch,” “Rampage” and “Skyscraper” as well as the TV shows “Ballers,” “The Hero” and “Wake Up Call.”
One of my personal favorite television shows I have ever
seen The Rock do was the show “Wake Up Call.”
Dwayne ‘The Rock’ Johnson: At 23, I Had Only $7 In My Pocket
— Then I Turned My Life Around
According to Business Insider, “In TNT’s new show “Wake Up Call,” Dwayne “The Rock” Johnson lends a helping hand to everyday people who are facing enormous challenges in their lives. From dysfunctional homes and dead-beat dads to sports teams that don’t gel and businesses struggling to survive.”
MILK DOES A BODY GOOD
Dwayne Johnson starred in a commercial for the “Got Milk?” campaign that debuted during the Super Bowl on Feb. 3, 2013. He appeared in more advertisements for the campaign later that year.
He’s steady cashing them checks!!!💰 Cha ching! 😂
Dwayne Johnson made his reality TV debut on the TNT
competition series “The Hero” in June 2013. He hosted all eight
episodes of the short-lived show. The following year, The Rock returned to the
network with the eight-episode series “Wake Up Call,” which tracked
his efforts to help average Americans transform their lives. His third stab at
reality TV, “The Titan Games,” is scheduled to debut on NBC in
January 2019. According to an official synopsis, the competition series (which
is in the vein of “American Gladiatiors”) is inspired by the
wrestler-actor’s “desire to motivate global audiences to reach their potential
both mentally and physically.” Hopefully it fares better than its
predecessors!
You can say that again. He’s been cancelled more times than checks!
BLOOD, SWEAT, AND RESPECT
“Blood, Sweat and Respect. First Two You Give, Last One You
Earn” – The Rock
According to Fortune, movies in which Dwayne Johnson appeared made $1.3 billion at the worldwide box office in 2013 — more than any other actor that year. To be fair, he starred in four movies that debuted in 2013: “Snitch,” “G.I. Joe: Retaliation,” “Pain & Gain” and “Fast & Furious 6” (pictured).
My absolute favorite film in The Fast and The Furious franchise is Fast Five. It earned over $500 million in box office receipts. It set the stage for the billion-dollar franchise. This was a huge record at the time in 2011 for the film and The Rock most certainly helped put butts in those theater seats!
In 2014, The Rock starred in Hercules. It was a big budget film that cost $100 million USD to make. It grossed over $244 million at the box office, but was not the money maker studios would have liked.
To be fair, I saw the film. I thought it was excellent.
Solid performances by The Rock and the whole cast. My absolute favorite was Ingrid
Bolsø Berdal. She was outstanding in the film. She was the Legolas of the film.
You know the role that made Orlando Bloom famous in The Lord of the Rings
franchise.
You know how it goes: “One Ring to rule them all, One Ring to find them, One Ring to bring them all and in the Darkness bind them.”
Or DC Comic Universe’s The Arrow.
Like Jennifer Lawrence in The Hunger Games, she too uses a bow and arrow. You know it is always the coolest party people that use the infamous bow and arrow and that is because it takes REAL skill.
“With Drive And A Bit Of Talent, You Can Move Mountains” –
The Rock
In May 2015, Dwayne Johnson starred as a rescue helicopter pilot in “San Andreas.” He reportedly banked $25 million — the biggest paycheck of his career so far — for his role in the disaster flick. There are reports that the box office hit will get a sequel, though no moves have been made yet on the project.
Alas, as of this writing, it doesn’t look like the movie
pulled in enough dough to make that happen.
“Ballers” debuted on HBO in June 2015. According
to Variety, Dwayne Johnson makes $650K per episode of the series — more than
any other actor makes on TV aside from the five main stars of “The Big
Bang Theory,” who each bank $900K per episode of the CBS sitcom.
As of this writing, The Big Bang Theory (TBBT), will be
ending and going off the air in Spring 2019. This stems from Jim Parsons’
decision to leave the series at the end of the season if the show were to be
renewed for a thirteenth season. The series will conclude with an hour long
finale consisting of two back-to-back episodes on May 16, 2019.
In October 2015, Dwayne Johnson announced that he’d signed on to promote Ford’s service departments. Since then, he’s appeared in several ad campaigns for the motor company.
In November 2015, Dwayne Johnson reportedly donated $1,500 to a shelter puppy who’d been named after him. The 4-month-old pooch required expensive medical treatment for a heart murmur.
THE BRAHMA BULL GETS INK AND INKS A DEAL WITH UNDER ARMOUR
“Success at anything will always come down to this: Focus &
Effort, and we control both.” – The Rock
The tattoos are beliefs of his ancestors from his father’s side and mothers sides. His black culture, his Samoan culture, all cumulates in a belief that the spirit of his ancestors is protecting his family. These tattoos represent great struggle and about overcoming them.
The tattoo on his body comes down to 3 things; his family, protection of his family, and about having a true warrior spirit forever.
Dwayne Johnson launched his partnership with Under Armour in January 2016. The first item from his collaboration with the athletic brand, a duffle bag, sold out within 24 hours. Since then, he’s released everything from clothes and wireless headphones to sneakers through his Project Rock collection for Under Armour. On May 28, 2018, The Rock’s Project Rock 1 shoes for Under Armour sold out in 30 minutes.
NO FREE APPLE iPHONES OR APPS
Remember in my last post, when I talked about Taylor Swift putting Apple iTunes on blast about free music? No? That’s ok. Here’s the link 😉
Well, now The Rock is working with Apple.
In May 2016, Dwayne Johnson launched an iPhone app, The Rock Clock, that’s essentially an alarm clock that wakes up users with exclusive inspirational video messages from the actor-wrestler. Users can also sync their alarms with The Rock’s so that they too can rise and shine at 4 a.m. every day to start their daily fitness routines. “Our goal was create a free, direct, uncomplicated, cool, motivating app to help us all get after our goals every morning,” the superstar explained on Instagram.
And remember this? iPhone 7 | The Rock x Siri Dominate the Day | Apple. If you look closely, you will see that fannie pack pic of him while he ‘s driving the Lyft car!!! 😂And in the video his manager calls him DJ. I would love an uncle DJ that can treat me to an ice cream anytime!
AND YOUTUBE
In July 2016, Dwayne Johnson launched his own YouTube
channel. Original series on the channel include the cooking show “What The
Rock Is Cooking” and “Millennials: The Musical,” a collaboration
with “Moana” co-star Lin-Manuel Miranda.
In January 2017, Dwayne Johnson launched Seven Bucks Digital
Studios, a branch of his Seven Bucks Productions focusing on developing new
original online content.
In April 2017, Dwayne Johnson returned to the role of Luke Hobbs in “The Fate of the Furious.” The eighth installment in the beloved “Fast & Furious” franchise opened worldwide to more than $541 million. At the time, it was the largest global opening of any film ever. (“Avengers: Infinity War” broke the record the following year.)
In July 2017, Dwayne Johnson starred in an ad campaign for
Apple’s iPhone 7 and Siri titled “The Rock x Siri Dominate The Day.”
In September 2017, Dwayne Johnson and ex-wife Dany Garcia
launched Seven Bucks Creative, a creative ad agency within their production
company, Seven Bucks Productions. In March 2018, the company released its first
campaign: two videos promoting The Rock’s Project Rock collection for Under
Armour, naturally!
In December 2017, Dwayne Johnson headlined “Jumanji: Welcome to the Jungle.” The reboot of the original 1995 family action flick “Jumanji” was a surprise sleeper hit, becoming Sony’s highest grossing film of all time domestically. It trucked along at the box office for months, becoming the first movie since 1998’s “Titanic” to open in December and top the box office in February. All in all, the film was so successful, Sony ordered another installment in the series for late 2019.
RAKING IN THE DOUGH BY THE TRUCKLOADS
In February 2018, before writer-director Rawson Marshall Thurber had even penned a script, Universal and Legendary teamed up to win a bidding war for “Red Notice,” which Rawson describes as “a big international heist picture, that is tonally in the vein of ‘Ocean’s 11’ meets ‘True Lies’ by the way of ‘Thomas Crown Affair.'” The two studios agreed to finance the film at $160 million based on a pitch meeting and the fact that Dwayne Johnson is attached to star. (According to Deadline, the deal is the largest for a studio movie in Hollywood so far this year.) The Rock will reportedly bank $22 million plus backend to play “an Interpol agent who is tasked with catching the most wanted art thief in the world.”
In mid-July 2018, Forbes released its list of the world’s 100 highest paid entertainers. Dwayne Johnson came in at No. 5 behind Floyd Mayweather, George Clooney, Kylie Jenner and Judge Judy. “The former wrestler tallied the highest ever acting take-home in Celebrity 100 history, thanks to giant upfront paychecks and a cut of profits on blockbusters including ‘Jumanji: Welcome to the Jungle.’ A huge social following allows him to negotiate an extra seven figures atop his standard contract for promotion, helping nearly double his 2017 earnings,” wrote Forbes. So how much exactly he is taking home in 2018? A whopping $124 million.
At this point, he is making money hand over fist. Just genius right there with his negotiations. I have no words.
Dwayne Johnson’s generosity is practically legendary. In
late July 2018, he took to Instagram to share a video of himself surprising his
longtime stunt double (and cousin) Tanoai Reed with a new truck. “Not only
does Tanoai represent our family and my career with relentless commitment and passion.
He also represents an entire Hollywood stunt community that is truly the
backbone of our business,” The Rock wrote in the caption. Giving thanks
where it’s due? That’s good business! Over the years, the wrestler-actor also
bought a Lamborghini Gallardo for one of his cousins, a Cadillac Escalade for
his dad, a Cadillac truck for his mom, a Honda Civic for another cousin, a
Lexus SUV for yet another cousin, a Ford F-150 for an uncle and another Ford
pickup truck for his longtime housekeeper.
As of August 2018, Dwayne Johnson is the most followed male
entertainer on Instagram with 112 million followers.
As of this writing, he now has over 136 million followers on
Instagram. He is the king of Insta!!!! He is the undisputed, follower for
follower, heavyweight champ of IG!
Two snaps for you Dwayne!!! You Rock!!
He’s the seventh-most
followed celebrity behind Selena Gomez, soccer star Cristiano Ronaldo, Ariana
Grande, Beyonce, Kim Kardashian West and Kylie Jenner. According to Forbes, The
Rock “insists on a separate seven-figure social media fee” for every
movie in which he appears.” Basically, his social media accounts are worth
millions in marketing and advertising dollars.
And that ladies and gentleman is how The Rock built his empire.
Here is his formula: Blood, Sweat, and Respect + Hard work and Consistency = Success.
“No. I can survive well enough on my own— if given the proper reading material.” ― Sarah J. Maas, Throne of Glass
Where do I begin?
Let’s start here. The cost of college.
College is expensive. According to the College Board, the average cost of a 4-year in-state public university hovers around $9,970, at private colleges $34,740, and $25,620 for out-of-state residents attending public universities.
Many folks don’t just have $10,000-$30,000 sitting around in their bank accounts.
According to numerous reports, many Americans do not even have $400 for an emergency. How the heck are they going to come up with 10 times that amount or more for college?
I, myself, had to become an extremely massive saver in order to stop living paycheck-to-paycheck.
This required me to become very frugal and find ways to earn more, cut spending, or both from my household budget.
Most of my problem was the revolving credit card debt I had. So, I had to come up with a plan to get it paid off. Every time I paid off one debt, I started saving that money.
What I really noticed about college besides just the price was that many of the things we’re learning came from equally expensive textbooks. Couldn’t I have saved tons of money by just skipping college and reading the textbook instead? Literally, all I would have needed is the syllabus of the course.
I went on Amazon to see books about the cost of college being worth it. It is right? Well, maybe.
The point I am trying to make with this article is to examine the following:
Challenge the conventional wisdom that college will solve all your problems
Going to college will make you rich
Prestige is to be pursued at all and any cost
THE COST OF COLLEGE
It has been well-documented that college is coasting more and more every year.
The amount of student loan debt in the United States alone stands a $1.5 trillion.
I cannot even wrap my head around that number. Basically, it means that many people are either going to be paying back their loans for a long time or will not ever be able to repay them. That is a sad fact indeed.
We are mortgaging our young people’s future.
Many are unable to buy homes, start families, get married, and put down roots.
The cost of college is especially hard to manage for those that are of low-income. The issues of poverty do not stop with a college acceptance letter.
We are starting to create a reality in where the poor inherit their parents’ poverty while the rich hoard opportunities for their kids.
That glass floor is real. When poor kids are getting 1200 to 1600 SAT scores and pulling hard A’s but still unable to graduate, while trust fund babies are barely pulling soft C’s is just ridiculous. That means, a rich kid can get a college degree simply because their parents have wealth, income, and resources.
I have heard stories of low-income college students dropping out for owing less than $1,000 to get their degree. Frankly, this saddens and alarms me.
And I am not buying avocado toast at $10, according to one politician, who will remain nameless.
The cost of a Bachelor’s (BA/BS) degree is just too darn expensive. The worst part is that an education is not an equalizer. Just because you went to Harvard doesn’t mean you are going to get the corner office. That fancy C-Suite is the carrot being dangled in front of all those Ivy League hopefuls.
Many do not make it there.
Don’t believe me.
Check this out.
When I looked up books on colleges, admissions, and the Ivy League online, I found the following titles:
Excellent Sheep
Nudge
No Sucker Left Behind
Where you go is not who’ll you be
The Chosen: The Hidden History of Admission at Harvard, Yale, and Princeton
The Price of Privilege
Paying for the party
Pedigree Elite: How Elite Students Get Elite Jobs
The Blessing of the B Minus
Academically Adrift
Winners Take All
Generation Debt: How Our Future Was Sold Out for Student Loans, Bad Jobs, No Benefits, and Tax Cuts for Rich Geezers–And How to Fight Back
Equity and Excellence in American Higher Education
How to Raise an Adult
iGen: Today’s super connected kids are growing up Less Rebellious, More Tolerant, Less Happy – And completely unprepared for Adulthood
I have read a few of the books listed above. Many are eye-opening recounts of their experiences with elitism, the Ivy League, college admissions, debt, student loans, finances, etc. Paying high prices, as much as $100 an hour for instruction, for college, taking on tons of debt and then receiving low starting salaries.
Stagnant wages and student loans are a dangerous cocktail.
The one book that still haunts me is No Sucker Left Behind. In this book, he describes college as a rip-off as he feels that colleges are involved in price-gauging schemes. Colleges, in his opinion, have become profit-obsessed businesses with an approach that is more reserved for used car salesman.
There are some Ivy Leaguer’s that become Corporate America rock stars. However, the majority go on to careers in the same type of jobs that those that do not go to top tier colleges.
COLLEGE EARNINGS
You think the Ivy League is the only way to go. Well, think again.
You hear all the time that a college degree means higher earnings, like $1 million more in income over a working lifetime. What you do not hear are the tales of people paying $100,000 for that sheepskin and then getting a $35,000 starting salary right out of college.
He looked up profiles of people that went to Elite Schools.
Mostly more of the same from elites: people chasing money.
Surprise, surprise many end up in investment banking and consulting. If places like Harvard are the playgrounds of the rich, then places like investment banks are close behind. The Elite School graduate sandlots.
I have come to believe that you should pursue what is in your heart and your God given talent. Whatever that may be. God does not give anyone anything he doesn’t want them to use. Sacrificing doing any less than your best is to sacrifice the gift. Figure out what you are good at and then pursue that! The money tends to follow.
Some studies have followed, like the one above, people who attended Ivy League schools and others accepted to those schools but who chose lower ranked schools instead. The result: There wasn’t a difference in lifetime earnings. In other words, Ivy League caliber people don’t need an Ivy League education to have high earnings.
WHY FOUR YEARS OF COLLEGE?
Remember that $100 an hour for instruction that I previously stated? Due to that, the real cost of college is costing some students $100,000 a year, according to the book No Sucker Left Behind. So, that is what part of the reasoning behind four years is. Collecting the tuition and fees.
The BA/BS degree takes no less than 120 credits to complete.
Why is this?
Should we not question this? I get it. You do not want a doctor that is immature performing surgery on you. However, I value work ethic and experience over age.
Why not have a degree take 48 credits to complete?
How we would do this is to cut out all the unnecessary courses one needs to graduate. Forget the gen eds and endless electives. Stick to what we need to graduate.
A college degree should be done as quickly as possible so that people can get out there and work. Most families do not have 4 years to let junior go off and explore. They need him out there working and bringing home the bacon today!
I read an online forum called college confidential where it asked why is college in America so long. Great question. Here are some of the responses. This is how it went down.
Why is it that it takes so long to get a professional degree in the US?
In order to study Optometry or Medicine or Dentistry etc you need to do 4 years in college first, not even 1 or 2 years but 4 years whereas in the UK the 16-18 education is enough to prepare you for it.
People may want to start/support a family and at the same time pursue their passion but the length of study is off putting.
Answers were the following:
Gen eds.
The US is looking for mature people to be their doctors and lawyers, not a 21 year old whose frontal lobe is not yet fully developed.
If you have many AP/IB credits, you can get your degree in 3 years, too.
I would not want my doctor/dentist to have had only 1 year of formal education.
It’s a business. The more classes one is required to take, the more money the school makes.
What I suggest is that colleges get straight to teaching you all you need to know in your field. This would cut down on the time and expense of school.
And as for those who say people need to mature. Sure, I’m all for that, but how many people know 30 year-olds that are still wet behind the ears? Lots.
If you want people to mature, put them to work. Nothing makes people grow up faster than responsibility and accountability.
If maturity is really an issue, then have people start in at the bottom.
Nothing beats entitlement out of you like taking orders, scrubbing toilets, and fetching coffee.
Make people work their way up. After college, they could apprentice and work while learning their jobs. Get paid to train and work instead of paying for more training. It is just that simple.
I think college should allow student s to do an intensive 8 months and 48 credits
You would take 4 three-credit classes every 8 weeks. This would mean doing 4 eight-week semesters instead of 8 three-month ones. You would earn 12 credits every 2 months.
A college schedule could be like this:
Year One. English, Economics, major, major.
Year Two. Economics, Science, major, major.
Year Three. History, Math, major, major.
Year Four. Economics, major, major, major.
You see what I did there. I focused on the major and getting people out of college. That should be the point of college, right?
Why the focus on finance? Other than the fact Greenbacks Magnet is a financial blog, it just makes sense to teach people about money as they have to manage it for their whole lives.
After 8 months, you earn 48 credits and graduate. That took less than one year. It also saves you heaps of money. If four years costs you $40,000, then 8 months should run you $6,667. That is huge savings!
I was gobsmacked to hear of doctors owing $300,000 to $1 million in student loan debt. Do you know what type of interest you pay on that kind of debt? It’s immoral.
Interest of 5% on $1,000,000 is $50k a year. That means after income taxes you have to pay $50,000 just to pay the interest on this debt. To service this type of debt, you would have to pay more than $50,000 a year just to touch the principal.
I remember reading one lawyer say that he expected to have that student loan bill tacked to his coffin.
Just utterly insane!
PRESTIGE AND CLASS
I read a book called Class Matters by the New York Times and Bill Keller. The book discusses how people chase money and prestige. Class determines everything about you: where you live, who you marry, what you do to earn a living, where you shop, and who your friends are.
The zip code you grow up in can ultimately make or break you.
In the book, it discusses how Americans have long thought of themselves as unburdened by class distinctions. There is no hereditary aristocracy or landed gentry, and even the poorest among us feel that they can become rich through education, hard work, or sheer gumption. And yet social class remains a powerful force in American life.
Class―defined as a combination of income, education, wealth, and occupation―influences destiny in a society that likes to think of itself as a land of opportunity.
What was jaw-dropping was this part of the book: And we see how class disparities manifest themselves at the doctor’s office and at the marriage altar.
For anyone concerned about the future of the American dream, Class Matters is truly essential reading. I agree with that assessment given to the book.
THE CREDENTIAL RACE
Grades are important. Sort of. Those getting straight A’s have to conform. Visionaries are not conformists. A New York Times (NYT) article quoted Dr. Karen Arnold as saying, “Valedictorians aren’t likely to be the future’s visionaries.”
The NYT article also noted the following:
This might explain why Steve Jobs finished high school with a 2.65 G.P.A., J.K. Rowling graduated from the University of Exeter with roughly a C average, and the Rev. Dr. Martin Luther King Jr. got only one A in his four years at Morehouse.
THE REAL GRADUATION RATE
Did you know that the average graduation rate is 6 years?
Roughly 57% of students graduate in 6 years. Only 20% of American students graduate in 4 years.
Most students are not even graduating in the already exceedingly long period of 4 years’ time.
According to Complete College America, for a non-flagship public university, only 19% of students graduate on time and even at flagship research public universities, the on-time graduation rate is only 36%. Only 50 of the more than 580 public four-year institutions have graduation rates above 50%.
According to 2013 data from the University of Texas at Austin, students who graduate on time will spend 40% less than those who graduate in six years.
That means more time out of the work force and more debt.
According to Forbes, staying out of debt and saving are the best ways to build wealth.
WHY SHOULD COLLEGE BE 8 MONTHS?
Why can’t you do your 10-year plan in 6 months? – Peter Thiel, angel investor of Facebook
I whittle it down to this one reason: No student loans or a lesser amount of them.
Building wealth requires you staying away from and out of debt.
They say student loans are good debt.
I say that all debt is debt. You must repay it. Not having to pay back $20,000 or more of debt with interest is life changing.
If you want to be wealthy, stay away from debt. Save every penny. Learn to turn every dollar into two.
“Walk amongst the natives by day, but in your heart be Superman.” ― Gene Simmons
In 2017, Gene Simmons wrote a book called, On Power: My Journey Through the Corridors of Power and How You Can Get More Power.
This book was nothing like I expected.
It was MORE.
Like the title says, it’s about getting more power. Become more powerful than you ever thought you could be. It all starts with your actions.
Let’s get right into it.
WHO IS GENE SIMMONS?
Image: Forbes.com
The short version is that he is a co-founder and front-man of the band KISS, that he helped start in the 1970’s. They are America’s #1 gold record-award-winning group of all time.
Image: New York Post
Gene grew up dirt poor. He practiced guitar for hours after watching The Beatles on an appearance of the Ed Sullivan show, he knew then that he wanted to be a rock star.
According to Harper Collins, the book was inspired by Niccolo Machiavelli’s The Prince, Simmons offers his unique take on the dynamics of power in every realm of life, from the bedroom to the boardroom, to the world of rock, celebrity, and social media, to politics. With one-of-a-kind anecdotes from his life and career, as well as stories from historical and contemporary masters of power, including Winston Churchill, Napoleon Bonaparte, Warren Buffett, Michael Jordan, Oprah, and Elon Musk, Simmons crafts a persuasive and provocative theory on how the pursuit of power drives civilization and defines our lives.
Gene Simmons has an estimated net worth of over $50 million dollars. So, I decided to give the book a quick read. Glad I did.
POWER IS WHAT EVERYONE WANTS
People want power.
Power over their lives
Power over their time
Power over their professional lives and career
Power over their money
So, how do you get this so-called power.
It’s a power grab for sure.
Gene takes a no-holds-barred approach to his life and on power. It’s dog eat dog out there. You have to be one of the big dogs.
Gene believed that everyone deserves power and that it is yours for the taking.
In his book, he gives you the key to unlock the doors to the temple of power.
GENE ON EDUCATION
“It’s up to you to educate yourself.”
“It’s up to you to learn speaking skills and people skills.”
“It’s up to you to try (and usually fail, but to try again) all sorts of ventures.”
“Believe me, the library is the temple of God. Education is the most sacred religion of all.”
He graduated from Richmond College in New York City getting a bachelor’s degree in education. At one point, he was a school teacher in the Upper West Side.
Gene also speaks multiple languages such as German and Hebrew.
I noticed this was also a theme of Scrooge McDuck. Get a good education, become a linguist, and get to work.
I read everything I can get my little hands on. I go to the library every month. I regularly check out 4-5 books at a time. Sometimes more. I do believe in being well-read.
GENE ON SUCCESS
The rest is a combination of hard work, being at the right place …at the right time…with the right thing…oh yes…and more (never ending) hard work.”
You want success? Well, you have to work for it.
Gene puts his money where his mouth is.
He worked for a butcher hauling up huge slabs of meat and cleaning the blood off the butcher block. Gene has worked as a typist and sold fruit on the side of the road when he was 8 years old.
Make no mistake. Gene is a hard worker and a hustler. He was working multiple jobs to get ahead. Similar to Jay Leno.
As for myself, at one point, I was working as a waitress, cashier, or in sales. In addition, to going to college and studying at times up to 5-7 hours a day! Going to bed at 1 am and getting up at 6 am. Rinse and repeat! I did that for years.
GENE ON ENTREPRENEURSHIP AND CAPITALISM
“Before I ever knew what the word Entrepreneur was, I realized in America and in the Western part of the world in general, you are given the opportunity to be whatever you want to be. And that is all anyone should ever expect from the Capitalist system. The rest is up to you.”
Yep. America is the land of YOYO (You’re on your own).
You learn real quick that no one is coming to save you. You have to create your own safety net. You can’t depend on the government. The only person to depend and rely on is self. Get it? Got it? Good.
GENE ON MONEY
“So much of our popular mythology focuses on the negative aspects of power that we forget that gaining power is, perhaps, the only way to enable ourselves to make a difference in our lives and in the lives of others.”
Gene says you must first get your financial house in order before you can espouse love.
This is similar to what I once heard Tyra Banks mother say, “you have to get yourself together first, before you can help anybody else.”
You should always be looking for ways to earn and expand those earnings. KISS started out with nothing. They slowly built a following. IT. TOOK. YEARS. They were riding around in an old van going from gig to gig and living off hot dogs.
But KISS got smart. They started licensing their name. Everything from lunchboxes to t-shirts. Their moniker is big. Multi-million dollar deals got them to the top of the heap. Monetize everything is Gene’s motto. And he has. And it’s been lucrative to say the least.
So, there you have it. Gene Simmons on power. If you want it bad enough, you just have to work and rock-n-roll all night, like KISS, to get it.
Those willing to do more than the bare minimum. We are talking captains or titans of industry and business mavericks, that buck the trend, throw caution to the wind, and are all in.
Steve Jobs, Bill Gates, LeBron James, Phil Knight, and Walt Disney, to name a few, embody the characteristics of what it takes to dominate in one’s field. They are outliers. If you dare to dream and be an outlier yourself, then you are in great company.
WHAT IS AN OUTLIER?
A person or thing that is atypical within a particular group, class, or category. – Merriam Webster Dictionary
Simply put, you are different than the rest. You stand out. An outlier is the proverbial diamond in the rough or needle in the haystack. The 1 out of a million.
We all know how it worked out for Aladdin in the end.
When everyone else goes right, you go left and turn down the street.
You have tunnel vision. All energy is focused on a single task until it is completed or you are an expert. The rejection of noise and naysayers are a must.
A great definition of focus is this: To follow, without halt, one aim: There’s the secret of success. – Anna Pavlova (Prima Ballerina)
WHO ARE OUTLIERS?
The more you like yourself, the less you are like anyone else, which makes you unique. – Walt Disney
We will take the examples above and expand on those individuals that have either been born great, achieved greatness, or had greatness thrust upon them. (To revise Humphrey Bogart’s famous words: Here’s looking at you, William. Shakespeare that is.)
So, who are these mavericks you say? Just keep reading.
Steve Jobs
Photo: Forbes.com
Steve Jobs was the CEO and co-founder of the most valuable brand in the world: Apple. The first ever trillion-dollar company in the entire world. He pioneered revolutionary technologies. Thanks to his genius and willingness to dare to be different, we now have a computer in our pockets.
He decided to buck the trend and paid no dividends for Apple shareholders (this changed in 2012), as he thought that money could be better spent to expand the company.
Forbes, in 2011, estimated Jobs’ net worth to be around $6 billion to $ 7 billion dollars prior to his passing.
Bill Gates
Photo: Forbes.com
Bill Gates is a business magnate who is the founder of Microsoft. He took the road less traveled by famously dropping out of one of the most elite and prestigious universities in the world: Harvard.
Mr. Gates devoted every minute of his time to computer technology. He would read trade magazines and stay informed on the latest in tech. Becoming an expert in the field and later launching Windows in 1985. It became the top operating system for PC’s.
Forbes lists Gates’ net worth at $96B.
LeBron James
Photo: Forbes.com
LeBron James started playing basketball at a very young age. He loved the game so much that he played and practiced non-stop. By the time LeBron was 14, he had ESPN covering his high school basketball games because he was just that good.
He was drafted in 2003, to play professional basketball with the NBA. It is estimated that he spends $1.5 million dollars a year just on his health care and personal training to keep his body in the best athletic shape possible. He would go on to win the first ever championship for Cleveland. Ever. He recently built a school and is offering college scholarships to those students.
Forbes estimates James’ net worth at $440 million. That’s a lot of M’s just for going hard in the paint. It pays well to be the best.
Phil Knight
Photo: Forbes.com
Phil Knight is a business magnate and the co-founder of Nike. He ran track for the University of Oregon under the infamous track coach Bill Bowerman, with whom he co-founded Nike. Bowerman is famous for coaching 31 Olympic athletes including the legendary Steve Prefontaine.
After attending Stanford Graduate School of Business, Knight decided to become an entrepreneur. His business plan paper became the catalyst for his company. He traveled to Japan to see about good running shoes, which would go on to become Nike.
Forbes estimates Knight’s net worth at $31B.
Walt Disney
Photo: Forbes.com
Walt Disney was a pioneer in the American animation industry. He always loved to draw. He had a paper route with a grueling and exhausting schedule as a kid, which contributed to his poor grades at school.
None the less, he continued to draw. He had $40 dollars in his pocket when he moved to CA to start his career. After, getting fired from a job in animation at one company, he decided to start his own.
People laughed at him for wanting to draw a talking mouse. An old legend states he was rejected 302 times to get financing to start Disney World. He ended getting the last laugh as Disney is the biggest and most diversified mass media and entertainment conglomerate in the world.
At the time of his death in 1966, he was estimated to have a net worth equal to $1 billion in today’s dollars (adjusting for inflation).
HOW CAN BEING AN OUTLIER MAKE YOU RICH?
Go confidently in the direction of your dreams. Live the life you have imagined. – Henry David Thoreau
People are willing to pay for unique. Something that is one of a kind. The rarer the better.
Do something so good that people can’t wait to see you.
“Make sure it’s mean so them fiends keep on coming back” – Who Dat (Song by J. Cole)
Keep them wanting for more.
They say the riches are in niches.
Mae West wrote on taboo subjects in the 1920’s. She made a mint in real estate and oil. This is what she thought of all that hoopla she made way back when.
I believe in censorship. I made a fortune out of it. – Mae West
Figure out what you are good at and make it happen.
When you start out you have to take what you can get, but when you blow up, you can name your price.
Remember that song Back Then by Mike Jones. Yeah, it can be something like that.
GO AHEAD AND TAKE THE ROAD LESS TRAVELED
Two roads diverged in a wood, and I — I took the one less traveled by, and that has made all the difference. – Robert Frost
Many people have made a fortune off being different.
Success depends in a very large measure upon individual initiative and exertion, and cannot be achieved except by a dint of hard work. – Anna Pavlova
Let’s see some numbers for clarity and perspective.
Only the best can become NFL players. Here is what the best can make.
Rookie Salaries in the NFL
Source: FootballNextLevel.com
Highest Paid Players in NFL
Source: Spotrac.com
These are just salaries for one profession. There are many others.
CEOs are making bank. In addition, so can authors, producers, actors, musicians, professors, doctors, and more can as you can garner success in many other fields.
How hard are you willing to work to make success happen?
Dwayne “The Rock” Johnson says success takes no less than everything you’ve got. You don’t need directions on the road to success, just point to the top and go! Here are a few more of his words of wisdom for motivation.
I'm always asked "What's the secret to success?". The secret is, there is no secret. Be humble, hungry and the hardest worker in the room.
