The other day I overheard people talking about being 90 days late and past due…blah blah blah I couldn’t make out the rest, but I heard enough to fill in the blanks. Debt, debt, and more debt.
Two of the biggest culprits are house and car loans. Some may disagree with me, but cars are wealth killers! At least Dave Ramsey agrees with me.
Then it hit me.
After three years of blogging, I found my niche.
This blog is really all about rejecting new car ownership to become financially independent (FI). That’s right. I refuse to buy new cars so I can become FI.
When I hear people complain about having no money but paying $600 a month for their car, all I hear is the same sound Charlie Brown’s teacher makes. Cut the excuses!!!
Obviously, reminding people why they should reject buying a NEW CAR bears repeating.
However, you and I both know that those are small potatoes compared to what some folks are shelling out. We gotta Keep Up With The Joneses’ today or life just plain sucks!
There are now new luxury vehicles coming off the assembly line with an MSRP of $80k! MSRP stands for the Manufacturer Suggested Retail Price — also known as “sticker” price — which is a recommended selling price that automakers give a new car. A dealer uses the MSRP as a price to sell each vehicle; it’s different from invoice price on a car, which can stand thousands below the sale price.
Vehicles have become so expensive that dealerships are offering 84 month car loans! I have no intention of owing the man that type of moola.
Especially, considering that the REPO Man is out there lurking in the shadows, ready to take my car if I miss even one single car payment.
And BTW the REPO Man tends to show up at the worst possible times; such as when you are already 20 minutes late picking up your kids from soccer practice, while the Walgreen’s pharmacy is texting you that this is the last day to pick up your $600 EpiPen or else it goes back on the market.
I actually have a friend that was unable to continue making payments on her BMW. Before, we get into this story here is a little background. She owns a home with an ARM and payments can fluctuate wildly from $1500 to $2400, is finishing her bankruptcy payments, and calls herself a Glam Ma and not Grand Ma.
She used to use dating apps after her divorce, but stopped after one guy told her he was looking for a place to stay. Hard pass. No more Bumble Bee for her! She likes her independence. Always has, always will.
For instance, her son recently asked if his mother would be willing to watch his newborn infant after she is born to save on daycare costs, which is astronomical in America and can cost people one whole paycheck, to which she replied, “not unless she got ID to sit with me at the bar on Friday’s, then no I can’t watch her.”
Getting back to the car situation, she decided to stop all car payments due to financial constraints.
Therefore, she stopped paying for two years.
Two whole years!!!
Since she knew she could no longer afford it; she just strategically stopped paying and put that money towards other obligations. The same way a squatter strategically walks away from an underwater mortgage. No reason to raid the retirement accounts and then end up completely broke now is there.
Anyhoo, she kept the car clean and left nothing in it in case the repo man ever showed up to take it. Well that day finally came and they took it right out of her driveway.
She then decided to hail cabs, and take Lyft and Uber rides until she got her tax refund and then she bought her next car with cold, hard cash baby! Lesson learned. If you own it, no one can take it.
Setting money on fire
Cars are making people go broke. SUV’s are some of the priciest on the market.
According to Business Insider, Ford made a game-changing decision in April when the company announced it would dissolve its entire line of sedans and compact cars that includes Focus, Fusion, Fiesta, and Taurus by 2020. Other cars that will be discontinued this year and beyond include the Alfa Romeo 4C Coupe, Chevrolet Sonic, and Cadillac ATS.
Maybe this is why Aston Martin has rolled out its latest car with a pricetag of this: New $189,000 SUV.
You could wind up spending $2500 a month just to own this luxury monster!
Let’s do a little math
I’m going to pull back the curtain on this and show you why you need to take off your BMW rose-colored glasses.
Buying a 2020 BMW truck will cost you about $176,000 after all is said and done.
Item
2020 BMW X6 SAV M50I AWD
Interest:
Maintenance:
Gas:
Total Cost over 7 years:
Cost
$104,095
$104,095 x 3% = 31,228 BMW of Alexandria website
$3,122.85 x 7 = $21,859.95 Setting aside 3% of purchase price
$50 x 52 = $2,704 x 7 = $18,928
$176,110.95
You get to basically drive to work, the grocery store, gym, and Pottery Barn for the low, low price of almost the cost of a house in Georgia.
20 Marietta St NW Unit 6B Atlanta, GA 30303
$179,000 Price 2 Beds 2Baths 1,156 Sq. Ft.$155 / Sq. Ft. Redfin Estimate: $175,558 On Redfin: 70 days Status: Active
Redfin Listing
That is also more than three times the median salary of an American adult making $56,000. Even Rappers are buying into this crap before the ink is even dry on that million-dollar deal they just signed!
That video came out the same year I bought my car.
Maybe if I had seen this, I would have done something different.
Hopefully seeing this here will help all of you out there.
Put that money into Mr. Market
I know this is the part where your eyes glaze over but please bear with me.
Here’s my story. In 2003, I decided I needed a new car. BIG MISTAKE! I previously had an Nissan Altima that cost about $8k and I was paying $229 per month for it. Then it started having problems so I decided to trade it in for a new Ford Explorer.
Original MSRP was $30k, but I got it on sale for $24,000. Stupid. I had a negative equity balance on the Altima so I rolled it over onto the new loan. I went from owing $6k to $32k in the span of 5 hours at a car dealership from the time I walked in until I signed the papers.
The payment on the Explorer was $448.65 a month for about 5-6 years. Therefore, from 2003-2009 I was paying on this car instead of investing that money in Mr. Market. DUMB!!!! For 6 whole years, I could not do much of anything because the car payment was always due.
Want to go on that trip to Dominican Republic? Sorry guys, can’t do it. The gas guzzler has got to get paid.
Want to buy new socks and clothes because yours are worn out and have holes in them? Sorry, no can do. The car note is due on the first, which is same time as the rent. Sucker! They got me good.
I was even paying over the phone for faster processing at the tune of $5 a pop!
All that changed once I paid it off. I got down to $1500 and just paid it off. I was free b#tche$!! Can’t nobody hold me down…oh no…I got to keep on moving!!!
I haven’t had a car payment in over 10 years! Not since Steph Curry was selected as a draft pick in the NBA.
I took that money and started investing in stocks. Before I know it, I had like a couple hundred grand in Mr. Market just from rejecting new car ownership.
How would you feel having $200,000 working for you everyday 365/24/7 in the market paying you just for having a pulse?
“Success isn’t always about ‘Greatness’, it’s about
consistency. Consistent, hard work gains success. Greatness will come.” –
Dwayne Johnson
Well unless you have been living under a Rock, then you have
heard of the name Dwayne “The Rock” Johnson.
One of the most successful wrestlers to come out of the WWE of all time.
The Rock is an inspiration to millions with his good
attitude, humility, and great sense of humor. One of the hardest working men in
show business today.
If there is a movies coming out, then The Rock either
auditioned for, saw the script, produced, or is starring in it. I mean the guy
has a movie coming out like every two weeks!
He recently made headlines in January 2019 for not getting
cast in Crazy Rich Asians?!!
As he worked with the film’s director, Jon M. Chu, in the 2013 sci-fi action film “G.I. Joe: Retaliation,” with Bruce Willis.
Regardless, The Rock isn’t low on cash by any means.
He has an estimated net worth of over $150 Million.
On my continued journey toward studying the self-made, the
man du jour is Dwayne Johnson.
Full Disclosure: I located numerous interviews, read magazine articles, and reporting on The Rock. One of the best came from Wonderwall.
So here we go.
Get your popcorn ready cause this is a long one.
I’m about to open up The Rock’s wallet and give you a peek
inside.
Let’s smell what The Rock is cookin’ in his bank books shall we?
THE ROCK BEGINS: CAUGHT BETWEEN A ROCK AND A HARD PLACE
Dwayne Johnson, was born in California on May 2, 1972. Although he grew up poor in Hawaii, he is now one of the richest men in Hollywood, but the poverty he faced during his childhood is never far from his mind.
Case in point, On Thanksgiving 2017, The Rock revealed in a lengthy Instagram post that “there was a time back in ’87 when we couldn’t even afford Thanksgiving dinner and [were] praying someone would invite us over their house to eat.”
Due to his father’s work as a professional wrestler, the
family was constantly in flux and bouncing around from place to place.
Wrestling is in The Rock’s blood.
Wrestling is actually the Johnson family business — his
father Rocky Johnson was a star in the 1970s and ’80s, while his Samoan
grandfather Peter Maivia was famous in the 1960s.
As his mother was unable to keep a steady job because of this, they went through hard times.
HARD KNOCK LIFE
In another IG post, in May 2015, the wrestler-actor revealed on Instagram that “when I was 14yrs old we were evicted out of our apartment in Hawaii ’cause we couldn’t afford the $180 per week rent.”
In 2014, he told The Hollywood Reporter that a week before
they were evicted, he watched his mother’s car get repossessed. He reportedly
added to her troubles by joining a theft ring that targeted affluent stores in
Waikiki.
In addition, he stated in another interview that they were
so broke that his mother doesn’t remember walking out into incoming traffic
before he pushed her out of the way.
It was at that moment he decided to make changes in his life. He said to himself, “What can I do with these two hands?” That is when he decided to start working out.
“The successful men I knew were men who built their bodies.” – The Rock
He also stated while growing up people thought he was a girl and that they referred to him as one “all the time.”
KICK ROCKS
“I’ll never, ever be full. I’ll always be hungry. Obviously,
I’m not talking about food.
Growing up, I had nothing for such a long time.” – The Rock
The Rock is now one the biggest movie stars in the world.
But before the A-list super-stardom and even before his WWE debut, Dwayne
Johnson was just a guy that was down on his luck.
He decided that he wanted to play football. He worked
tirelessly and gave everything he had to the sport. His hard work paid off.
Johnson was a promising football prospect and received
offers from many Division I collegiate programs. After finishing high school in
Pennsylvania, he went on to play college football. He decided on a full
scholarship from the University of Miami, playing defensive tackle. In 1991, he
was on the Miami Hurricanes’ national championship team.
The 6-foot-5, 290-pound Johnson started only once, appearing
in 39 games with a total of 77 tackles and 4.25 sacks. With muscles on top of
muscles, he was a sight to behold. He was a physical specimen from Day 1.
It was once quoted about The Rock, “He was a
jack-of-all-trades, but only a master at wrasslin’.
Ed Orgeron, University of Miami defensive line coach
(1989-1992), once had this to say about The Rock.
“His uncle was Jimmy Snuka, he came from a wrestling
family. So we knew about that.
“I remember one-day walking off the field, he hadn’t
had a good day and I said something like, ‘You know, Dwayne, you should just
become a wrestler.'”
Warren Sapp, NFL pro football 2013 Hall of Famer, said this of
playing football with The Rock.
“So we used to joke with him by saying, ‘When you get
done with football, you’re going to go into wrestling, right?’
“And he’d say: ‘Damn right, bitch.’
Everyone always had the same thing to say about Johnson, he
was charismatic, humble, and down-to-earth.
The Rock would go on to complete a bachelor of general studies degree. But his football career was coming to an end around the same time his academic career did.
WRESTLING WITH $7 BUCKS
“1995. $7 Bucks In My Pocket. I Knew Two Things: I’m Broke
As Hell and One Day I Won’t Be” – The Rock
In 1995, Dwayne Johnson signed with the Canadian Football
League’s Calgary Stampeders at a yearly salary of $35,000. According to The
Hollywood Reporter, after just two months, he got knocked down to the practice
team, which paid just $250 a week.
That had to hurt!
During that time, he reportedly shared a two-bedroom
apartment with three other players, “eating ramen noodles and spaghetti
and sleeping on a filthy mattress he had found ditched outside a
pay-by-the-hour sex motel,” wrote THR. When he was cut from the team not
long after that, he had just $7 to his name.
This is when he decided to become a wrestler. He begged his
father to show him the ropes. Get it 😉
Dwayne Johnson made his WWE debut in 1996, becoming the first third-generation wrestler in the league. (His father, Rocky Johnson, and his maternal grandfather, Peter Maivia, were both professional wrestlers.) He quickly became one of the sport’s biggest stars. According to Fortune, during his second year in the WWE, The Rock made enough money to accomplish a childhood dream: He bought his first Rolex. (He smashed the $35,000 timepiece in the ring just a week later.)
I mean, wow!
“When You Walk Up To Opportunity’s Door: Don’t Knock It.
Kick That Bitch In, Smile and Introduce Yourself” – The Rock
Dwayne Johnson officially transitioned to Hollywood in 1999,
the year he played a version of his father, wrestler Rocky Johnson, on
“That ’70s Show,” where he got to act out with Topher Grace as Eric
Forman.
The following year, he channeled his wrestling alter ego
(complete with cocked eyebrow) to portray an alien gladiator on an episode of
“Star Trek: Voyager.” A month later, he hosted “Saturday Night
Live” for the first time. Each of these television appearances — as well
as a few others — helped him prove his acting chops and win fans outside of
the wrestling world.
The people’s champ was becoming the acting champ.
Things started really moving steadily from there for The
Rock.
In 2000, Dwayne Johnson released his memoir “The Rock Says…,” which debuted at No. 1 on The New York Times bestseller list.
Keep in mind, Writing isn’t generally a high-paying
gig—unless you happen to be the top-selling author.
Fun Fact: While this gains the coveted “NYT BESTSELLER” status for the authors, it doesn’t net a lot of money. There are weeks in the year where you can make the NYT list with as few as a couple of thousand sales.
According to Career Trend, Given the royalties of a standard
contract, an author selling 20,000 books priced at $25 would earn $65,625 the
first week on the “New York Times” best-seller list. This is not
quite the millions superstar authors bank, but if the book continues to sell,
these earnings add up to an impressive income.
Then The Rock hit pay dirt. He booked a starring role in a major Hollywood film.
In 2001, Dwayne Johnson made his feature-film debut as The Scorpion King in “The Mummy Returns.” He reportedly banked $500K for his brief appearance in the action-adventure sequel to 1999’s “The Mummy.” His work in the film was so popular, he scored his own spinoff.
THE BUSINESS OF BEING THE ROCK
The Road To Success and Greatness Is Always Paved With
Consistent Hard Work. Outwork Your Competitors, Be Authentic And Above All
Else. Chase Your Greatness” – The Rock
Dwayne “The Rock” Johnson rose to fame thanks to his exploits in the pro wrestling ring and got his first big break in the movie business as the Scorpion King in 2001’s “The Mummy Returns.”
He holds the Guinness World Record for highest paid for a
movie debut, as he received a $5 million-dollar paycheck for his role.
In 2004, Dwayne Johnson left the WWE to focus on his Hollywood acting career. The following year, he earned raves for his performance as a gay cowboy bodyguard and aspiring actor in “Be Cool.” Further signaling his transition from professional wrestler to serious actor, he was credited as Dwayne “The Rock” Johnson instead of just “The Rock” for his work in 2006’s “Gridiron Gang.” With 2008’s “Get Smart” — at the urging of his agents at CAA — he officially changed his stage name to Dwayne Johnson.
CAA, short for Creative Artists Agency, is also one of the
biggest entertainment agencies in the world.
GIVING BACK
“I Like To Use The Hard Times in The Past, To Motivate Me
Today” – The Rock
In 2006, Dwayne Johnson and then-wife Dany Garcia, who fell
in love while they were students at the University of Miami, donated $2 million
to their alma mater to help fund a renovation to the school’s alumni center. In
2007, they donated $1 million to the college’s Football Facilities Renovation
Fund, which was reportedly the largest donation ever from a former student to
the university’s athletic department. The University of Miami renamed their
football locker room in his honor: It’s now the Dwayne “The Rock”
Johnson Football Locker Room.
If that is not karma coming full circle, then I do not know what is! From getting cut from a football team to having a university athletic department named after you. Totally badass!!!
PERSONAL DIFFERENCES
In 2008, Dwayne Johnson and college sweetheart Dany Garcia
divorced after 10 years of marriage and one daughter, Simone. The same year
they split romantically, Dany became her ex’s manager. “I was already
deeply involved with his agents, I was already commenting on scripts. It was a
very natural conversation, where he just said to me, ‘I would love for you to
do this full-time,'” she told Marie Claire in 2017.
PERSONAL DIFFERENCES ASIDE, KEEP ON TRUCKING…ALL THE WAY TO THE BANK
In 2010, Dwyane Johnson portrayed star police officer Christopher Danson in “The Other Guys.” He reportedly earned $9 million for his role in the action-comedy…. even though (spoiler alert!) his character gets killed off just 15 minutes into the movie.
Dwayne Johnson executive produced the 2010 documentary
“Racing Dreams.” The film, which centers around young drivers chasing
the kart racing championship title, marked The Rock’s debut as a producer.
I mean, does this guy ever stop working?!!! Now he’s a
producer.
In 2011, Dwayne Johnson parted ways with CAA, whose agents
had urged him to distance himself from the wrestling world. He signed with WME
and legendary agent Ari Emanuel (on whom Jeremy Piven’s “Entourage”
alter ego, Ari Gold, is based), and officially returned to the WWE that
February.
You see that. He trusted his instincts and listed to himself, not just the advice of his management team. Others may help you along your journey, but ultimately you make the final decision. ALWAYS!!!
He appeared in a number of big WWE events over the course of
the next few years and, according to some reports, banked $3.5 million per year
for his efforts. Apparently, he was worth every penny: “We set
pay-per-view buy-rate records and attendance records each time,” he gushed
to Fortune of his big return to the WWE. In April 2016, the league confirmed
that WrestleMania 32 set a new attendance record for the WWE with 101,763 fans
in the crowd at AT&T Stadium in Arlington, Texas.
Would you look at that?
Setting records. Smacking down candy asses. Being eye candy.
Raising eyebrows and rising paychecks.
That is my description of The Rock!!
FAST AND FURIOUS MONEY
“Let Actions Do Your Talkin For You, (Unless You’re Telling A Good Dirty Joke)”
In an Essence magazine article, he was asked what he was wearing while talking over the phone. His answer: A thong. Backwards. 🤣Your boy has got jokes!!!
The Rock is now taking life a quarter mile at a time.
In April 2011, Dwayne Johnson made his film-franchise debut as Luke Hobbs in “Fast Five.” At the time, the fifth installment in the “Fast & Furious” franchise had the top opening weekend of any film ever to open in the month of April, though that record has since been beat. He went on to appear in the next three films in the series and has become such a fan favorite that he and Jason Statham scored their very own spin-off movie, “Hobbs and Shaw,” which is scheduled for release in the summer of 2019.
SEVEN BUCKS PRODUCTIONS
In 2012, Dwayne Johnson and ex-wife Dany Garcia co-founded their own production company, Seven Bucks Productions — a nod to that time the wrestler-actor found himself with just $7 to his name after getting the boot from the Canadian Football League. The company has produced several of The Rock’s recent films including “Jumanji: Welcome to the Jungle,” “Baywatch,” “Rampage” and “Skyscraper” as well as the TV shows “Ballers,” “The Hero” and “Wake Up Call.”
One of my personal favorite television shows I have ever
seen The Rock do was the show “Wake Up Call.”
Dwayne ‘The Rock’ Johnson: At 23, I Had Only $7 In My Pocket
— Then I Turned My Life Around
According to Business Insider, “In TNT’s new show “Wake Up Call,” Dwayne “The Rock” Johnson lends a helping hand to everyday people who are facing enormous challenges in their lives. From dysfunctional homes and dead-beat dads to sports teams that don’t gel and businesses struggling to survive.”
MILK DOES A BODY GOOD
Dwayne Johnson starred in a commercial for the “Got Milk?” campaign that debuted during the Super Bowl on Feb. 3, 2013. He appeared in more advertisements for the campaign later that year.
He’s steady cashing them checks!!!💰 Cha ching! 😂
Dwayne Johnson made his reality TV debut on the TNT
competition series “The Hero” in June 2013. He hosted all eight
episodes of the short-lived show. The following year, The Rock returned to the
network with the eight-episode series “Wake Up Call,” which tracked
his efforts to help average Americans transform their lives. His third stab at
reality TV, “The Titan Games,” is scheduled to debut on NBC in
January 2019. According to an official synopsis, the competition series (which
is in the vein of “American Gladiatiors”) is inspired by the
wrestler-actor’s “desire to motivate global audiences to reach their potential
both mentally and physically.” Hopefully it fares better than its
predecessors!
You can say that again. He’s been cancelled more times than checks!
BLOOD, SWEAT, AND RESPECT
“Blood, Sweat and Respect. First Two You Give, Last One You
Earn” – The Rock
According to Fortune, movies in which Dwayne Johnson appeared made $1.3 billion at the worldwide box office in 2013 — more than any other actor that year. To be fair, he starred in four movies that debuted in 2013: “Snitch,” “G.I. Joe: Retaliation,” “Pain & Gain” and “Fast & Furious 6” (pictured).
My absolute favorite film in The Fast and The Furious franchise is Fast Five. It earned over $500 million in box office receipts. It set the stage for the billion-dollar franchise. This was a huge record at the time in 2011 for the film and The Rock most certainly helped put butts in those theater seats!
In 2014, The Rock starred in Hercules. It was a big budget film that cost $100 million USD to make. It grossed over $244 million at the box office, but was not the money maker studios would have liked.
To be fair, I saw the film. I thought it was excellent.
Solid performances by The Rock and the whole cast. My absolute favorite was Ingrid
Bolsø Berdal. She was outstanding in the film. She was the Legolas of the film.
You know the role that made Orlando Bloom famous in The Lord of the Rings
franchise.
You know how it goes: “One Ring to rule them all, One Ring to find them, One Ring to bring them all and in the Darkness bind them.”
Or DC Comic Universe’s The Arrow.
Like Jennifer Lawrence in The Hunger Games, she too uses a bow and arrow. You know it is always the coolest party people that use the infamous bow and arrow and that is because it takes REAL skill.
“With Drive And A Bit Of Talent, You Can Move Mountains” –
The Rock
In May 2015, Dwayne Johnson starred as a rescue helicopter pilot in “San Andreas.” He reportedly banked $25 million — the biggest paycheck of his career so far — for his role in the disaster flick. There are reports that the box office hit will get a sequel, though no moves have been made yet on the project.
Alas, as of this writing, it doesn’t look like the movie
pulled in enough dough to make that happen.
“Ballers” debuted on HBO in June 2015. According
to Variety, Dwayne Johnson makes $650K per episode of the series — more than
any other actor makes on TV aside from the five main stars of “The Big
Bang Theory,” who each bank $900K per episode of the CBS sitcom.
As of this writing, The Big Bang Theory (TBBT), will be
ending and going off the air in Spring 2019. This stems from Jim Parsons’
decision to leave the series at the end of the season if the show were to be
renewed for a thirteenth season. The series will conclude with an hour long
finale consisting of two back-to-back episodes on May 16, 2019.
In October 2015, Dwayne Johnson announced that he’d signed on to promote Ford’s service departments. Since then, he’s appeared in several ad campaigns for the motor company.
In November 2015, Dwayne Johnson reportedly donated $1,500 to a shelter puppy who’d been named after him. The 4-month-old pooch required expensive medical treatment for a heart murmur.
THE BRAHMA BULL GETS INK AND INKS A DEAL WITH UNDER ARMOUR
“Success at anything will always come down to this: Focus &
Effort, and we control both.” – The Rock
The tattoos are beliefs of his ancestors from his father’s side and mothers sides. His black culture, his Samoan culture, all cumulates in a belief that the spirit of his ancestors is protecting his family. These tattoos represent great struggle and about overcoming them.
The tattoo on his body comes down to 3 things; his family, protection of his family, and about having a true warrior spirit forever.
Dwayne Johnson launched his partnership with Under Armour in January 2016. The first item from his collaboration with the athletic brand, a duffle bag, sold out within 24 hours. Since then, he’s released everything from clothes and wireless headphones to sneakers through his Project Rock collection for Under Armour. On May 28, 2018, The Rock’s Project Rock 1 shoes for Under Armour sold out in 30 minutes.
NO FREE APPLE iPHONES OR APPS
Remember in my last post, when I talked about Taylor Swift putting Apple iTunes on blast about free music? No? That’s ok. Here’s the link 😉
Well, now The Rock is working with Apple.
In May 2016, Dwayne Johnson launched an iPhone app, The Rock Clock, that’s essentially an alarm clock that wakes up users with exclusive inspirational video messages from the actor-wrestler. Users can also sync their alarms with The Rock’s so that they too can rise and shine at 4 a.m. every day to start their daily fitness routines. “Our goal was create a free, direct, uncomplicated, cool, motivating app to help us all get after our goals every morning,” the superstar explained on Instagram.
And remember this? iPhone 7 | The Rock x Siri Dominate the Day | Apple. If you look closely, you will see that fannie pack pic of him while he ‘s driving the Lyft car!!! 😂And in the video his manager calls him DJ. I would love an uncle DJ that can treat me to an ice cream anytime!
AND YOUTUBE
In July 2016, Dwayne Johnson launched his own YouTube
channel. Original series on the channel include the cooking show “What The
Rock Is Cooking” and “Millennials: The Musical,” a collaboration
with “Moana” co-star Lin-Manuel Miranda.
In January 2017, Dwayne Johnson launched Seven Bucks Digital
Studios, a branch of his Seven Bucks Productions focusing on developing new
original online content.
In April 2017, Dwayne Johnson returned to the role of Luke Hobbs in “The Fate of the Furious.” The eighth installment in the beloved “Fast & Furious” franchise opened worldwide to more than $541 million. At the time, it was the largest global opening of any film ever. (“Avengers: Infinity War” broke the record the following year.)
In July 2017, Dwayne Johnson starred in an ad campaign for
Apple’s iPhone 7 and Siri titled “The Rock x Siri Dominate The Day.”
In September 2017, Dwayne Johnson and ex-wife Dany Garcia
launched Seven Bucks Creative, a creative ad agency within their production
company, Seven Bucks Productions. In March 2018, the company released its first
campaign: two videos promoting The Rock’s Project Rock collection for Under
Armour, naturally!
In December 2017, Dwayne Johnson headlined “Jumanji: Welcome to the Jungle.” The reboot of the original 1995 family action flick “Jumanji” was a surprise sleeper hit, becoming Sony’s highest grossing film of all time domestically. It trucked along at the box office for months, becoming the first movie since 1998’s “Titanic” to open in December and top the box office in February. All in all, the film was so successful, Sony ordered another installment in the series for late 2019.
RAKING IN THE DOUGH BY THE TRUCKLOADS
In February 2018, before writer-director Rawson Marshall Thurber had even penned a script, Universal and Legendary teamed up to win a bidding war for “Red Notice,” which Rawson describes as “a big international heist picture, that is tonally in the vein of ‘Ocean’s 11’ meets ‘True Lies’ by the way of ‘Thomas Crown Affair.'” The two studios agreed to finance the film at $160 million based on a pitch meeting and the fact that Dwayne Johnson is attached to star. (According to Deadline, the deal is the largest for a studio movie in Hollywood so far this year.) The Rock will reportedly bank $22 million plus backend to play “an Interpol agent who is tasked with catching the most wanted art thief in the world.”
In mid-July 2018, Forbes released its list of the world’s 100 highest paid entertainers. Dwayne Johnson came in at No. 5 behind Floyd Mayweather, George Clooney, Kylie Jenner and Judge Judy. “The former wrestler tallied the highest ever acting take-home in Celebrity 100 history, thanks to giant upfront paychecks and a cut of profits on blockbusters including ‘Jumanji: Welcome to the Jungle.’ A huge social following allows him to negotiate an extra seven figures atop his standard contract for promotion, helping nearly double his 2017 earnings,” wrote Forbes. So how much exactly he is taking home in 2018? A whopping $124 million.
At this point, he is making money hand over fist. Just genius right there with his negotiations. I have no words.
Dwayne Johnson’s generosity is practically legendary. In
late July 2018, he took to Instagram to share a video of himself surprising his
longtime stunt double (and cousin) Tanoai Reed with a new truck. “Not only
does Tanoai represent our family and my career with relentless commitment and passion.
He also represents an entire Hollywood stunt community that is truly the
backbone of our business,” The Rock wrote in the caption. Giving thanks
where it’s due? That’s good business! Over the years, the wrestler-actor also
bought a Lamborghini Gallardo for one of his cousins, a Cadillac Escalade for
his dad, a Cadillac truck for his mom, a Honda Civic for another cousin, a
Lexus SUV for yet another cousin, a Ford F-150 for an uncle and another Ford
pickup truck for his longtime housekeeper.
As of August 2018, Dwayne Johnson is the most followed male
entertainer on Instagram with 112 million followers.
As of this writing, he now has over 136 million followers on
Instagram. He is the king of Insta!!!! He is the undisputed, follower for
follower, heavyweight champ of IG!
Two snaps for you Dwayne!!! You Rock!!
He’s the seventh-most
followed celebrity behind Selena Gomez, soccer star Cristiano Ronaldo, Ariana
Grande, Beyonce, Kim Kardashian West and Kylie Jenner. According to Forbes, The
Rock “insists on a separate seven-figure social media fee” for every
movie in which he appears.” Basically, his social media accounts are worth
millions in marketing and advertising dollars.
And that ladies and gentleman is how The Rock built his empire.
Here is his formula: Blood, Sweat, and Respect + Hard work and Consistency = Success.
Everyday and in every way, invest in yourself. Invest in your health and education to help build your wealth. With money comes power and protection. The wealthy are protected. Build up your knowledge and money coffers. A war money war chest is your way to ditch the 9 to 5 and get out of the rat race.
Jay Leno gives advice on how to do just that.
MONEY LESSONS FROM JAY
Jay on starting out
“I wasn’t a millionaire when I started.”
“I would alternate between the two, so it was cars and hamburgers, which are actually still two of my passions.”
He started his career working for minimum wage at McDonald’s in Massachusetts. Jay also worked at a Ford dealership. He discovered the key or secret sauce (pun intended) to getting rich: Developing multiple streams of income.
Jay on working more than one job
“I always had two incomes.”
“I’d bank one, and I’d spend one.”
“I had two jobs because I realized that was the quickest way to become a millionaire.”
“When I got ‘The Tonight Show,’ I always made sure I did 150 [comedy show] gigs a year so I never had to touch the principal.”
And there you have it. Basically, if you want riches, then you have to put in the work. If you work 40 hours a week, then find a way to work 50 or 60. Gotta make that paper.
“When I was younger, I would always save the money I made working at the car dealership, and I would spend the money I made as a comedian.”
“When I started to get a bit famous, the money I was making as a comedian was way more than the money I was making at the car dealership, so I would bank that and spend the car dealership money.”
“Then I got to the point where the comedy money was, like, five times the other money, so I decided to flip it around and save the comedy money.”
Therefore, if you are working 2 jobs or more, then you bank the bigger paycheck and spend the smaller checks. Bank the bigger of the two checks and live off the other.
Forget the pundits that tell you not to save. There is value in saving. You need an emergency to help in case of job loss or illness. Life is full of hiccups. Once you have saved reasonable amount, then you start investing your surplus income.
The key is not to only save, but to also invest. Savings help you live your life to the fullest. In addition, savings can help you fund your dreams. Not having to go to the bank for a loan is an incredible feeling.
Jay on living on one salary
“I pretended as if I didn’t even have the ‘Tonight Show’ job.”
“You know, when you start making money, you get lazy. I wanted to make sure I always had that hunger, so I never looked.”
“It would go directly into a bank.”
Simply put, bank it and forget it.
Jay on patience
It took 22 years to accumulate, “a nice little nest egg.”
You heard it here folks. Building wealth takes time. In many cases, it takes a couple decades. There are no get rich quick schemes. There’s is no free lunch. There are no shortcuts. You do the work, get paid, invest the surplus incomes, and wait to earn interest.
Jay on retiring
“If you do something and it works, then keep doing it.”
You do not have to retire early unless you want to. If you are passionate about something, and can make a living doing it, then do it.
Jay on Buy-And-Hold
“The McLaren F1, I paid $800,000 for it in 1998. The last offer I got was $12 million. … The nice thing is, if you buy what you like, and it doesn’t go up in value, you still like it.”
Warren Buffet likes to buy-and-hold forever. Therefore, don’t even part with your cash, if you don’t want to keep an item to infinity and beyond. Just don’t even open your wallet.
Jay on avoiding credit cards
“I barely use credit cards.”
Words to live by. Either use credit sparingly for a purpose and get it paid off ASAP or don’t even bother using it at all.
Jay on house buying
“I didn’t buy my house until I had cash. When you own something and you don’t have to write checks every month, you’re just better off.”
I learned from James Brown, Dick Clark, Jay-Z, Oprah, JK Rowling and Michael Jackson to own what you do. You can control your earning potential and life, if you own. You can continue to make money off the things you own and control for many years to come.
Regardless, of whether or not you’re still working. You can still earn royalties from work you have done in the past. That is how the rich get richer. Earnings on top of earnings.
Jay on debt
“I don’t carry any debt. I don’t write checks at the end of the month for anything.”
“I didn’t buy anything I couldn’t afford to pay for in cash.”
“Here is the money, give me the thing, transaction over.'”
Jay hates installments, as do I. His cash only solution is what the world needs to adhere by.
I have literally saved for two years or more to purchase items or services I wanted or needed.
When I wanted Lasik, I used my flexible spending and waited about 3 years before I did the procedure. It cost between $4,000 to $5,000. And was worth every penny. Paid cash, not credit.
When I needed dental work done, I saved for 2 years. Paid cash, no installments.
Don’t buy on credit, build a fortune.
Jay on Retooling
“Since high school, I’ve always had two jobs. I worked at a McDonald’s and I worked at a car dealership. … When I was doing the Tonight Show, I’d be on the road at least two to three days a week because I thought, ‘We’ll see how long this lasts.’ ”
Do not ever get too comfortable. Things can change. Always have more than one way to earn a living.
Jay on owning
“I own everything. I own my buildings. I own my cars. That way, if it ends tomorrow, I know what I’ve got.”
His conservative money philosophy gives him peace of mind. When you are out of debt you just feel better. Take control of your finances and this too will help give you some peace of mind.
“It’s a little old fashioned, I suppose, but it seems to work pretty well for me.”
No impulse buying. This is the debt trap. Plan your expenses. Budget just means you plan where your money goes and it gives you permission to spend. Use it.
Jay on Taxes
“I just pay. Fine, I’ll get another job, I’ll work harder. That’s probably not very good tax advice. I don’t have money in the Cayman Islands or any of that nonsense.”
Always pay your taxes. Period!
Jay on being frugal
“McDonald’s sent me these Happy Meal coupons, so one day I’m in the McLaren and I’m going to McDonald’s. I say, ‘Give me two Happy Meals.’ And I give them the [coupons].”
“Now I look like the cheapest guy in the world driving this multimillion-dollar McLaren and I’m trying to get a free hamburger.”
He hates spending on clothes and has not touched one dime of his Tonight Show money. At one point, he was earning around $30M a year! It pays to be frugal.
So, you just avoid the mall, invest the money you would spend on clothes and start earning your way to a fortune with compound interest. Delay your gratification. Discipline is the key to wealth. Once you have it, no one can take it from you. Then you can save money to invest. Easy as pie.
Jay on Shifting Gears
“So many friends of mine, all they ever did was the TV show. When the TV show ends, suddenly their life ends, because that was their whole life. I was never that guy.”
It’s great to have hobbies and interests outside of work. See if you can turn a hobby or side gig, into an income. At the very least, have something to do after one thing ends. Remember, no idle hands.
Jay on shopping
“I’m not a big shopping guy. I’m just not interested in clothes outside of the essentials.”
“To me, it seems like a complete waste of money. I just want to have enough clothes to cover legally what parts I have to cover.”
Hear, hear! I used to like shopping. Until I didn’t. That happened once I learned I was losing a small fortune for that new purse or shoes. Read my post How Millennial Money inspired me to start saving $13,333.06 a year for more on that topic and see how I quit shopping for good.
Jay on Fixing Things
“When you’re in a business like show business, everything is subjective. Some people think you’re funny, some people think you suck. …When something’s broken and you fix it, no one can deny it’s running.”
Very true. Always be tweaking or working toward expanding and doing better. People notice you the harder you work.
Jay on setting high standards
He, like Coco Chanel, believe in setting high standards for yourself. Chanel said, “keep your head, heels, and standards high.”
Jay learned this attitude while working at McDonald’s. A key pillar of success: You can never go too far to ensure you’re producing a great product.
He would go home every night after work and write jokes. Jay would go through hundreds with his staff and get it down to the top 20. He would record himself and then re-listen for timing. Tedious? Yes, I know. But effective. The hard work paid off.
Fun Fact: Did you know @jayleno started his career making minimum wage at McDonald’s? Here are 5 things the self-made millionaire did that catapulted him to success: via @CNBCMakeIthttps://t.co/Y7ewRMHNXV
“I meet with the writers at about midnight or so and work until about 4:00 a.m.”
“I sleep four hours, maybe five.”
The way he saw it was, “if you have time to complain, you don’t have enough work to do.”
I am notorious for going to bed thinking of work and getting up to work. Sometimes I get up in the middle of the night to write down ideas about work. I work so much I barely have time to breathe.
I learned that from Pat Benatar who was a workaholic in the 80’s. But guess what? She wrote hits songs for like a decade. When there are times I need a break or pick me up while working, I’ll listen to her songs Invincible, Shadows of the Night or Love is a Battlefield.
For those who may not know or remember those songs, check out the links below. Good stuff.
Jay on failure
“You learn a tremendous amount from the mistakes.”
I have learned to fail better. It makes you stronger. It also humbles you and makes you more empathetic to others.
“I put my money in a hammock and say, ‘You relax. I’m going to go work.’ And when I come back, I put some more money in the pile.”
It’s your money. Don’t blow it.
Jay on Life
“Life is not that complicated … if you’re kind and decent, and try to be honest, it’ll probably work out. Yeah, you’ll get screwed once in a while. I certainly have, but that’s okay … don’t dwell on it.”
Pick yourself up, dust your wallet off, and get back into the grind. Don’t rest on your laurels. Put your head down and work. Stay humble and stay hungry. Generate multiple streams of income, diversify your earnings, increase your savings, and build your wealth. Get that net worth pumping in that interest faster than Arnold Schwarzenegger did lifting weights in Pumping Iron and you will start rolling in the dough!
Just FYI: Jay is worth over $300 million dollars. Has no debt. Is a self-made millionaire. And still works at the age of 68.
This is my latte factor. I call it the fancy car syndrome. If it’s shiny and new, people want it. Especially, if it’s a car. People can waste a couple hundred-grand just to be able to drive from the corner store and back home. I think people should examine the amounts spent on buying and leasing cars over a lifetime not just over the next 36 to 72 months.
What I drive. I personally own a Ford. I have driven one for over 13 years. My car has over 150,000 miles. It has a dent in the side and costs a minimum of $1500 to fix a year, but I still drive it. Why you ask? It’s simple. I used to spend $450 a month on a car note. Now I don’t. That’s $5400 a year. I was able to direct that money into savings and debt repayment.
Let me give you something to think about it. Two people walk into a car dealership. Customer A decides on a low-cost model car with great gas mileage for $15,000. Customer B goes for the fancy BMW that costs $50,000.
Two customers. Customer A is frugal, cuts expenses and pays off the car in 3 years. The money they were paying per month got rerouted to savings. After 2 years, they save $10,000. This is added to the additional $5000 that was in emergency savings. Approximately, $5000 is used as a down payment on a FHA home loan. They have over $100,000 in a current 401(k). Within a few years, including making extra payments on the mortgage, the home has $15,000 worth of equity. Customer A has a net worth of $125,000.
Customer B likes to live for today, increases expenses, and takes 6 years to pay off their car. No money is going to savings and they have $500 in an emergency fund and $7000 in an old 401(k). The warranty on the BMW runs out as soon as the car is paid for and repairs cost $3500. This expense goes on plastic. After a 2 years, the credit card debt has been repaid. They take out a personal loan to go vacation and pay for additional auto repairs. They have to treat themselves for denying themselves a vacation while paying off the car. Carpe, diem! However, because of high fixed expenses, they continue to rent and are unable to afford to save for a home down payment. Customer B has a net worth of -$10,000.
Over a decade with my Ford. Over the years, a few people have laughed at me for driving an old Ford. Those same people have had money issues for years. Not that I have not had any but because I do not have a car note to worry about my money goes toward other things like vacations, retirement savings or an emergency fund. I have been growing my nest egg for years. While I have watched some of those same people go broke. Now, I’m the one whose laughing, all the way to the bank.
Not only are Ford vehicles affordable, but because they are American made, it is easier to find parts and cheaper to fix. My average repair bill is $500-$700. The lady I knew whose spouse’s BMW was sitting on bricks because he couldn’t afford the repairs had a repair bill of $8000.
Since, my car is relatively inexpensive to fix, I can save more. I also was able to lower my insurance due to not needing full coverage. However, I would not go this route with an expensive car. If the cost of repairs and the value of the car is a high variance, you could end up with a totaled car and still have a balance owed.
Let’s say my Ford had this issue, then I may owe a balance, but it could be more like $1500 I have to pay out of pocket. In contrast, the Beemer might be something like $7000.
My car may be getting older but at least I own it and can afford the repairs without having to go into a ton of debt to fix it. So, if a car salesman walks up to you and tries to push you toward a fancy expensive car, by saying things like just try it out and if you don’t like it you can stop. Just say no. And walk towards the Ford vehicles instead. They may not get as high of a commission, but you get to keep your shirt and the house does not win.
In its first three months on sale in Australia, Mustang ranks as the best-selling sports coupe. Demand is so strong, the pony car was initially sold out through 2017, but an additional 2,000 Mustangs are slated to ship Down Under by the end of this year.
While on my own journey towards wealth accumulation, I notice that one of the biggest budget busters for families are automobiles. Now, I enjoy a nice fancy new car like the next person but to truly enjoy your car, I believe you have to be able to afford it and this includes the maintenance not just gas. Car ownership is more than just the purchase price. Forbes reported that the average U.S. cost of a vehicle in January 2016 was $34,112 – according to Kelley Blue Book (KBB).
A car is a car of course, of course. I know that new car smell is exhilarating. You slide in, adjust the seat, feel the smooth touch of the leather and sigh “I’m home.” One car is just as good as any other, right? However, we know that isn’t the case.
The most expensive car must be the better car because everyone knows you get what you pay for. Just cause the sticker price is higher does not make it the best vehicle or the right one for you. Let’s go down the list of what people are looking for in a car to do some comparison shopping.
Price. The first thing that comes to mind when buying a car is the cost. Understandably, so because if you decide to go with the fully loaded Range Rover versus a Ford Explorer, you better be prepared to live in it should you be unable to pay for both it and the rent. Doing an online search, I was able to look up the prices of both above-mentioned vehicles; a 2017 Ford Explorer could go for $31,160 and a 2016 Land Rover Range Rover costs…wait for it… a whopping $199,495!
There are some houses on the market that do not cost as much as a Range Rover. I also did the math for monthly payments. The Ford with a 3% interest rate would cost $509 per month for a grand total of $36,648 over 72 months. That’s 6 years! You know what could happen in 6 years; well neither do I, I’m not a fortune teller. Anything could happen, that’s why it’s best to keep car payments and terms as low as possible to be prepared for any unforeseen events.
As for the Range Rover, with the same terms as above, would cost $3,083 per month! There are mortgages for less. This is based on using the general 72-month term car dealers like to throw out there. For a final cost of $$221,976.
Just to put this into perspective, if you max out your 401(k) for 6 years, which is $18,000 for 2016, at a rate of return (ROI) of 6% annually you would have $125,697 in retirement savings.
Please don’t pick a car because of the after purchase champagne toast at one dealership versus the $50 gas card at another.
Miles Per Gallon. The Miles per gallon (mpg) can be especially important for anyone who does a lot of traveling. Even though gasoline prices have dropped over the past several years, it’s still not cheap to own a car or truck. According to Forbes, KBB stated that the lowest costs of ownership vehicles were Hyundai, Acura, General Motors, Toyota/Lexus and Ford.
Insurance. Indirect costs of ownership like insurance also need to be factored into the cost of buying. Luxury cars costs more to maintain and are more expensive to insure. Full coverage is the standard when buying new or used. These costs add up. Buying a cheaper car means saving on insurance and ultimately can be mitigated to your emergency savings or retirement account.
Safety. Let’s be honest. There are some vehicles that do not have the best safety features. If your new teenage driver is an eager beaver to get behind the wheel, then you may want to make sure your insured up to the hilt and that the car has airbags and anti-lock brakes. It is far more important to have a car that will stop on command than go from zero to 60 in 10 seconds.
