Mr. Hobo Millionaire

Hard Work And Getting Ahead

I am so thankful my father taught me (and led by example) the value of a strong work ethic. Nothing beats the feeling of accomplishment hard work gives a man (or woman). A sense of pride, self esteem. I am all for helping someone down on their luck, but I want to see genuine effort from them to improve their lives, too. For THEIR sake, not mine. I’m fine whether they improve their lives or not.

Opportunity is missed by most people, because it is dressed in overalls and looks like work.

Thomas Edison

Success (and wealth) looks a lot like hard work.

Mr. Hobo Millionaire (with a hat tip to Mr. Edison)

A lot of people complain they just can’t get ahead, yet they work 40 hours or less per week. News flash… you’ll never “get ahead” working 40 hours a week. You must put in extra effort/extra time to get ahead. If 40 hours were all that was required to get ahead, nearly everyone WOULD be ahead.

40 hours is less than 1/4th of a week’s hours

There are 168 hours in a week. Do you realize 40 hours is less than 1/4th of the total hours in a week? 1/4th!!! Throw in sleeping 8 hours a night and 3 more hours for driving, eating, and bathing per day… you still have 51 hours left!!! What are you doing with your 51 EXTRA hours per week? Oh… and that’s 51 hours per week… Over 2500 extra hours per year. Do you realize if you simply decided to work these extra 2500 hours a year for 10 years, make an average of $10/hour… you could save $25,000 a year for 10 years. That’s $250,000 in savings in 10 years. If you did that from age 20 to 30, invested the $250,000, and went back to a normal 40 hour work-week at age 30, for the rest of your life, you would be set for retirement if you never added another dime.  By age 65, that money would turn into 1.3 million at 5% interest or 3.6 million at 8% interest. Again, that’s if you never added another dime to it. Oh, and if you got a 5% return over the initial 10 year period of saving $25,000/year… that would actually be $355,000 that would compound for 35 years, not $250,000, making our age 65 numbers 1.9 million at 5% and 5.2 million at 8% interest.

Oh, and you say you don’t want to work an extra 2500 hours a year for 10 years, then work half that. The numbers are still pretty incredible. If you’re young, work HARD and SAVE. The compounding interest math is CRAZY. It will pay off for you in the long run.

What do you think? Is it insane to work more than 40 hours a week to get ahead? Please comment below.