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The 8 Types of Millionaires
Based On The Book: Why The Rich Are Getting Richer
The 8 Types of Millionaires
1. Millionaire Employee
Each year, the millionaire employee gets a millionaire dollar salary, but they only bring home about $600,000 after taxes.
2. Millionaire Sports Star
The millionaire sports star could have a lucrative multi-million dollar contract, but they’re usually only bringing home a net income of $300,000–$500,000 a year due to jock tax laws. More importantly, many athletes go bankrupt after five years because they lack financial education.
According to a 2009 Sports Illustrated article, 35% of National Football League (NFL) players are either bankrupt or are under financial stress within two years of retirement, and an estimated 60% of National Basketball Association (NBA) players, 78% NFL players,[2] and a large percentage of Major League Baseball (MLB) players (4x that of the average U.S. citizen)[3] go bankrupt within five years after leaving their sport (Source: Wikipedia).
3. Millionaire Movie Or Rock Star Or Entertainer
The millionaire entertainer’s career can almost be up to their fans. Ever notice how some…
