This episode is brought to you by SmartVester. Connect with an investing pro near you at

Ramsey Solutions.com slash smartvester. Today's question comes from Adam in New Jersey. Dave frequently

mentions that teaching is one of the top occupations of those who achieve millionaire status.

I have three children in high school, and I want to present teaching as an option for them.

My question is, how do they become millionaires on a teacher's salary?

Great question. So he's referring to our millionaire study we did of over 10,000 millionaires, and we ranked the careers, and the first one

was engineer, followed by accountant, followed by teacher. It was the third career in there.

Yeah, followed by business executive, followed by lawyer. MDs didn't make the top five. They

were number six, just as a thing. So the answer is interesting, Adam.

You're falling for the classic belief that income creates wealth, more, that the only way

you become wealthys have a huge income. And as we studied, George told you

over 10,000 millionaires, one third of them, 33% never made over $100,000. So the secret to

becoming a millionaire is apparently not just having a larger income. Now, it doesn't hurt

to have a larger income. It's not a bad thing,

but it's not the only way to get there because one third of America's millionaires did not

become millionaires because of a high income. And that apparently is the teacher answer, right?

So what does work? What does work is time and consistency. $100 a month,

$100 invested from age 25 to age 65 at the S&P 500, which is the average of the stock market,

rates is $1 one hundred and seventy six

thousand dollars one hundred dollars per month from age twenty five to age sixty

so the secret there is they didn't miss a stinking month for forty

freaking years and a hundred dollars makes you a millionaire. So the answer is not the amount.

...