e-book A Typical Self-Made American

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Kylie Jenner earns the median US salary in just over two hours - INSIDER

And let me repeat — that's the minimum. Let me share some of my research with you. They came from non-wealthy households. What's even more compelling is the age in which these self-made millionaires actually rang the bell and struck it rich. Here's the breakdown from my study:. The romanticized notion of getting rich quick always finds an eager audience.


We are stimulated by stories about the young and the wealthy. The immediate success of youthful billionaires like Facebook's Mark Zuckerberg or Google founders Larry Page and Sergey Brin play to our get-rich-quick emotions. We obsess over stories about lottery winners — and the lottery people know it.

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California's lottery catchphrase is "Imagine what a buck could do. Immediate gratification, especially when it comes to wealth accumulation, is the rallying cry of many in the modern world these days. Unfortunately, getting rich quickly is a rare phenomenon.

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It's clear from the above data that accumulating wealth takes a very long time. It just doesn't happen overnight.

Self-Made Men

Any entrepreneur reading this who has failed knows exactly what failing means. It turns your life upside down.

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It often results in bankruptcy. Families fracture and life is hard, when you fail.

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The path to riches, it turns out, is a long lonely one, paved with many potholes and numerous dead ends. Those few who soldier on, are seasoned veterans in the world of entrepreneurs, deserving of their own, well-deserved catchphrase: self-made millionaires. At the age of 12, he began selling newspapers on the streets, and at 16, he was running his own vending machine business. As a Jew, he escaped persecution by posing as the Christian godson of a Hungarian government official. He managed to flee to England, where he studied at the London School of Economics, and in he moved to New York City and worked as a European stock specialist in a number of investment banks.

But he grew restless, and within a year of leaving the company, he developed an instant messaging app for smartphones that he named WhatsApp.

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Today, WhatsApp is the most popular chat app in the world, used by more than 1 billion people. He often missed school to help pick cotton, and at 17, he quit school altogether to take a job at a local gas station, fixing flats and pumping gas. After buying his own truck, he began an oil field services company in , finding oil on his second drill. Since then, Hamm, 71, has served as CEO of what is now Oklahoma City-based Continental Resources, which has large holdings in the prolific Bakken formation, among others.

He attended the University of Illinois at Urbana-Champaign but had to drop out after his stepmother died. After two years in the U. Navy, he held a number of positions, from janitor to insurance salesman. All opinions expressed and data provided are subject to change without notice.