The person next to you on the road may be well on their way to becoming a millionaire at this very moment. Traditional lifestyles are being put to the test, and people are looking for creative ways to make income rather than rely on their day jobs. Not so long ago, we were sold the idea that we must obtain a great education, work hard and then become contributing members of society. Companies were large conglomerates that owned a lot of land and were big and intimidating. For one high school dropout this was never the story he subscribed too and made more than half a million dollars hassle free, until the day he was pulled over by the police.
Mike had a series of unfortunate events occur in his lifetime. He was not as advantaged as those his age. He had to provide for his family, as they were largely disabled. This caused Mike to drop out of college and work multiple part time minimum wage jobs. This influx of cash at such a young age led to poor spending habits and was quickly surpassed by his classmates that landed entry level desk jobs later in life.
Mike knew that he could not compete with his former colleagues and their kind in the job market. With no formal training or education, he was not systemically prepared to handle the tasks of a desk job and was also not well prepared for any trades as well. He was at a lack with what to do with his life to break his routine of living paycheck to paycheck and borrowing from friends.
He did have on skill, however, that he could rely on. He was confident and great at selling himself, a skill he needed to survive as a young teen making ends meet. He investigated online tasks, and eventually formed himself into a full-time freelancer, performing odd jobs and administrative tasks virtually. The freelancing got him steady clients, and he was able to pick a niche he particularly enjoyed and form a full-fledged business.
Drawing on his previous success, he advertised himself locally. As he did not have enough knowledge or money to ask about payment processing devices, he gave customers a discount for paying cash only.
Many years later, Mike had amassed a sizable fortune of 500k, and decided it was time he looked into income producing cash flows so that he could collect passive income instead of working for his money. After all, he and his fiancé were expecting, and needed to spend his time on his family. He decided to head down to the bank with his money and explore options.
He packaged all of his cash into briefcases, bags, boxes and whatever he could get his hands on and loaded it into his pickup. He strapped everything down properly, but some cash flew out the box as he was driving. Some police officers noticed this and needed to check their suspicions. Mike was pulled over and was detained and questioned.
Once he calmly explained that he was a British entrepreneur, and walked the officers through his business via his paper transaction records, they were soon convinced and let Mike off with a warning, but not without a strict lesson on financial literacy, personal safety, and the promise to be more careful.