a ups employee named theodore johnson who only made $14,000 per year was able to achieve a net worth of $70 million after 50 years through saving and investing, half of which he donated to educational causes in 1991.

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14-10-2022
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a ups employee named theodore johnson who only made $14,000 per year was able to achieve a net worth of $70 million after 50 years through saving and investing, half of which he donated to educational causes in 1991.

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akankshasharma92 akankshasharma92 · Answer 1 · 2022-10-18T07:31:51+02:00

Theodore Johnson earned no more than $14,000 per year while working for UPS, yet despite this, he was worth more than $70 million when he retired with out tax.

Theodore Johnson wouldn't see the cash again because it would be withdrawn from his account. In order to enrich himself, he therefore created a tax. He invested 20% of his earnings, despite the fact that he only made a small amount of money. That accrued interest for him over more than five decades, earning him $70 million.

Tony portrays Mr. Johnson's money as if it were nothing because it is only a measly $14,000 per year, which is considered "table scraps." In contrast to the $53,046 median household income, this is little. We tax should all be able to save 20% if he can, by golly. Yes, that's true, but we must not forget that Mr. Theodore Johnson retired in 1952. Amounts in the past and present are not equal. In fact, after inflation, Mr. Johnson's $14,000 is equivalent to almost $123,000.

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