How to Become on a Millionaire...on a Social Worker's Salary

[danstelter]

Hi everyone,

I just wanted to gather some of your opinions regarding whether you would buy an e-book with the topic of this post. Basically, it would detail various methods for simplifying your lifestyle and creating an easy system for investing in order to create financial freedom. There will be other various ideas and tips in there as well which will make this a unique take on financial freedom. I am considering developing my own personal finance blog with this e-book as the flagship product would appreciate your honest and unabridged feedback regarding my idea. I have enjoyed reading the articles on SavingAdvice.com and look forward to your opinion. Thanks,

Dan

[danstelter]

I just realized that I typed the title in wrong...doh! Please ignore and assume it reads, "How to Become a Milionaire on a Social Worker's Salary"

[disneysteve]

I think you'd be offending an awful lot of social workers. Come up with a title that doesn't mention a specific occupation. Maybe "How to become a millionaire on a minimum wage salary"

[cypher1]

Originally Posted by disneysteve

I think you've be offending an awful lot of social workers. Come up with a title that doesn't mention a specific occupation. Maybe "How to become a millionaire on a minimum wage salary"

LOL I shouldn't show this to some of my friends then.

[DebbieL]

I don't think social workers would be offended - they are very underpaid. They know it I think the title is catchy. I personally wouldn't buy it. I think all the information you need is readily available (for free) already - but who am I to rain on OP's parade. I think this market may be a bit saturated already, but who knows?

[Shewillbemine]

Including the social worker phrase is less about offending social workers--it's more about cornering the book to a perceived reading audience.

If I wrote a book called "The pathway to success from an Egyptian immigrant's perspective", don't you think I'm limiting my buying audience here?

[elessar78]

As the husband of a social worker, I think it's a good title, but you may be limiting your audience. I think it's a great premise for a book.

My wife has her Master's now, but when she started with the social work degree at undergrad, she loves this story, they were told in their very first class that "You won't ever make a lot of money." Unfortunately, that's been a self-fulfilling prophesy that's been ingrained in her. Which to me is a defeatist mentality.

We interact with a lot of her friends on a social level and it's not the income that keeps 'em "poor" it's their behavior. The one thing that I've given my wife that is a value in her therapy is the ability to teach her clients how to manage their money. Many, many social ills can be fixed with a simple lesson on setting a budget and living on less than you make.

As far as the actual social worker, they need to get out of the defeatist thinking that's ingrained from the start. No, it's not a lucrative job but they get paid enough if they choose to live simply and play "good defense."

[bjl584]

Maybe something more general to appeal to a broader audience?

"The Middle-class Millionare" (Pretty broad and general)

"Becoming a Millionare on My Middle-class Salary" (For a more personal touch)

That's a few ideas off the top of my head.

[DebbieL]

I still like the title. I think that it is pretty well known that social workers are not a highly paid group, and the point gets across very well. Look at "The Wealthy Barber". Not too many people are barbers, but everyone got the idea because we know that barber isn't a career that most would think pays all that well. I don't think the potential readership would be "limited" by the title. I'm not a social worker and I get what OP is trying to convey with the title.

[wincrasher]

We are all millionaires. It's just that it's spread out over a long time.

[MrPolarZero]

the answer for this question is quite simple – SAVE MONEY!

[tripods68]

Wants to become a millionaire...even 35K a year salary? I got some suggestions that anyone can save thousands each year. These are common basic things that you've heard before, but it need be repeated over and over to sink in. Other may not see true value but it may work on others personal lifestyle. In general, these are "good 10-rule" to have especially for anyone who is adamant about long term savings. I personally adhere on four of my suggestions...

1.) Keep your car as long as you can (if you live in the city eliminate own car altogether rely on city metros instead).

2.) Eliminate Cell phones/cable TV, if possible (watch online instead).

3.) Cook your own food - eliminate eating out all together - eat out once in a while (yes than include brewing coffee at home and making your own lunch during work week).

4.) Pay CASH ONLY (don't acrue any debt that you can't pay off in a month or two).

5.) If you can't afford it, don't buy it. Instead built to save.

6.) Rent for a long time unless you can afford your home CASH. (No property tax, home insurance, or home maintenance that comes with home ownership headache).

7.) Save towards 401(k) MAX allowable per year including ROTH IRA contribution and then some...

8.) Learn to be "HANDY MANNY" do-it-yourself.

9.) Always bargain and negotiate on many things you can buy for cheap....in other words do your own research especially on big ticket items (use car, refurbished TV/lap top).

10) Go out and EXERCISE outside - no need to pay $30 to $60 a month that you can do outside the gym, riding a bike, running, trail hiking, garden, etc...


By the way, I know lots of public employees or social worker because I am one of them

[MrPolarZero]

Tripods68's list of suggestions really are good. Indeed, the key to this one is that you really know how to control your money and save the necessary amount.