Infographic-building wealth on minimum wage.

[leeholsen]

I do not post here a lot anymore because I have decided what my financial goals are in life and they will not change, although I do owe a debt to ERE and MMM for learning to shake consumerism and become FIRE. I will never again be owned by a job, mortgage, car, etc; and that transformation is because of ERE.

anyways, a routine check for me is visual capitalist and today had a graphic on building wealth on minimum wage; I figure it had to be here: http://www.visualcapitalist.com/buildin ... imum-wage/

cutting to the chase, it says you can be financially independent in 10 years(270k with a 4% return is estimated to payoff approx. 10k yearly). seems that's very ERE to me.

[C40]

It's very nice, but the big trick at the end is "increase your income from $14k per year to $32k per year. So... to build wealth on minimum wage:
1 - Spend very little
2 - Double your income (Don't make minimum wage anymore)

[El Duderino]

that part was right below the advice to improve themselves by gaining extra abilities or learning to make money on the side, so that's probably what they meant

1 - Spend very little
1 and a half - increase your skillset and earning potential
2 - Double your income (and save the extra earnings)

[Smashter]

I think it's funny that it says "sell your car!" at the beginning and then "make side money by driving for Uber!" at the end. The infographic's heart is in the right place, though