The IRS has updated the new contribution limits for retirement plans. The annual limit on elective deferrals will increase to $23,500 (up from $23,000) for 401(k), 403(b), and 457 plans, as well as SARSEPs, and to $16,500 (up from $16,000) for most SIMPLE plans and SIMPLE IRAs.
That’s great news!
If you can max out your 401(k) with a 10% return, you would have $1M in 17 years. It would only take you an additional six years to get to the next million. You would then be a multimillionaire.
I know what you’re thinking.
How on earth am I going to get to one million let alone two million.
Just hear me out.
Let’s talk about how you can start with nothing and end a millionaire.
I will take you through the origins of a pension and ending with the rise in the 401(k).
Think of it like a roller coaster ride.
Deciding to strap in your seatbelt is the hardest part. It’s getting down the first hill that scares us and then after that it’s pretty much smooth sailing.
What is a pension? A pension plan is a retirement plan that provides a regular income to an employee after they retire. The employer is responsible for managing the investments in the plan and bears the risk of market decline.
Pensions have been around for a long time, with origins dating back to the classical world and before the United States was founded. The first military pensions were adopted in the United States, and the first veterans’ pension was offered to retired naval officers in 1799.
In 1875, the American Express Company established the first private pension plan in the United States, and, shortly thereafter, utilities, banking and manufacturing companies also began to provide pensions.
However, pensions go back even further. All the way to ancient times.
In the Roman Empire, veteran legionnaires received military pensions in the form of land grants or special appointments. This sort of barter system was still going around 50 B.C., when Roman soldiers were paid in salt, a highly valued commodity at the time.
Even the word salary comes from ancient times. The word “salary” comes from the Latin word salarium, which means “salt money. In ancient Rome, soldiers were paid in salt, a valuable commodity used to preserve food. The Latin word sal means “salt”. The word salarium continued to be used to refer to soldiers’ pay even after other forms of payment were introduced.
The word salarium entered the French language as salaire, and then into English in the late 13th century as salarie. The Norman conquest in 1066 introduced many Latin-derived words into the English language, including “salary.” That was during the time of William the Conqueror, but that is another story.
Have you ever heard the saying about being “worth your salt”? Now you know where it came from.
And just in case you were wondering, no, Social Security is not the same as a pension. That is a social insurance program started by Franklin Roosevelt (FDR) in 1935. Social Security is a social insurance plan that is intended to supplement a retired worker’s pension and savings.
Social Security is an earned government benefit for seniors, people with disabilities and children who have lost a working parent. Working people contribute to Social Security with every paycheck. A pension is income you set aside while you’re working so you will be able to get a monthly paycheck when you retire. Pensions have vesting periods and Social Security does not.
Pensions became popular after the Second World War in the 1940’s and through 1970 when as many as 52% of workers had them. Employers managed the program, but they also took on the administrative cost burden and risk associated with them. Then, sadly, pensions started going the way of the dinosaur and Atari game console.
The 401(k) is the PlayStation 5 of our day and bumped out the pension, which is the Nintendo of days past.
Today, about 10% of private employers offer pensions. This started being replaced by the 401(k).
One of the biggest silver linings of having a 401(k) versus a pension is the fact that a 401(k) cannot go bankrupt. However, a company can and once that happens they are under no obligation to pay pension benefits; whereas, your 401(k) travels with you wherever you go like a passport.
A silver lining is a positive aspect or sign of hope in a situation that might otherwise be negative. It’s often used in the proverb “every cloud has a silver lining,” which means that there’s always something good or hopeful to be found in even the worst situations.
Now, that you know more of the history of pensions, let me show you how you can start with nothing and rise to the top just like Jennifer Lawrence in the Silver Linings Playbook. She may be a top paid leading lady in Hollywood now but as a broke teenager starting out, she had nothing.
Actress Jennifer Lawrence at the Red Sparrow premiere in New York on February 26, 2018. REUTERS/Caitlin Ochs
She grew up in Kentucky in a middle-class family and had a middle-class upbringing. Growing up she often felt like a misfit as she did not fit in with her peers.
I can relate to that on some level as I was always striving to get the gold star on the behavior chart every day at school. I was less impressed with class clowns, popular kids or jocks and more focused on reading and getting into college. My parents called me the rebel of my four siblings. I didn’t care. I know I was meant for something else. I wanted to be a writer and a rich businesswoman. Just like Jennifer, I was charting my own path.
After a talent scout spotted 14-year-old Jennifer while on vacation, she told her parents she wanted to pursue acting. She then worked on leaving school and got her GED so that she could start auditing for parts.
She actually audited for the role of It-girl, Serena van der Woodsen, in Gossip Girl, but lost the part to Blake Lively. She has said she was really bummed not to get the part. However, as one door closes, another opens.
She got her first paid role in 2006 and a small part as a mascot in an episode of Monk. However, the movie that got her the buzz she needed to get cast in bigger films was when she got cast for the leading role in Winter’s Bone. Lawrence’s acting amazed critics and audiences alike. I saw the film and I knew instantly that a star was born.
At only 20-years-old, she earned an Oscar nomination for Best Actress in a Leading Role. And from there, Lawrence’s success continued to skyrocket.
In 2011, she landed the role of Mystique in Marvel’s X-Men: First Class.
In 2012, she wowed audiences as Katniss Everdeen in The Hunger Games. The post-apocalyptic, dystopian film was an instant hit. This is the film where she earned her first $1M paycheck. The first women to ever get that million was none other than Elizabeth Taylor for the 1964 film Cleopatra. Jennifer was in good company.
Later in 2012, Lawrence starred in another successful film, Silver Linings Playbook. She won an Oscar for Best Actress for her performance. And at the time, she was the second-youngest actress to achieve this honor. Lawrence was only 22.
If you think her rise to superstardom was fast, then think again. She doesn’t owe any of her success to luck. She worked hard for her multimillion-dollar salary.
In Jennifer Lawrence’s own words: “I put in my time; I lived in a rat-infested apartment when I was 14, and I was told ‘No’ many times. I put my blood, sweat, and tears into all of this. It’s easy to look from the outside and see my career grew very fast, but there was a time before that career when I was working for it. And I definitely wouldn’t have wanted that time to go on any longer.” I feel her on that.
I lived in small apartments, ate ramen for dinner and had times that I lived off of $5 a day. It was only after I put in my time that I was able to negotiate a six-figure compensation package later in my career and started investing upwards to $10,000+ per year, that I started to see some return on my own sweat and tears.
Here is a peak behind Jennifer Lawrence’s financial playbook:
Here’s how she made from playing Katniss and Mystique in these franchises:
The first Hunger Games installment paid her $1 million. She earned $10 million for the second film and $20 million apiece for the third and fourth movies.
As Mystique in the X-Men franchise, Lawrence earned $250,000 for First Class, $6 million for Days of Future Past, $8 million for Apocalypse, and $4.7 for Dark Phoenix.
On average, Jennifer Lawrence earns between $15-$20 million per movie. Her paychecks for a few of her films were:
Jennifer also has other sources of income such as endorsement deals.
In 2012, she became the face of Dior. The luxury brand paid the actress a cool $20 million.
She owns a production company.
She is also a landlord. owns a luxury apartment in Manhattan. She paid $9 million for the unit and now rents it for around $27,000 monthly.
What I have learned from her story is that you have to create opportunities for yourself by showing up and doing the work. Success is not just going to fall into your lap. You have to go get it. Success not only attracts success, but it also leaves clues.
In order to earn her first million, Jennifer Lawrence had to act in numerous plays, move to New York, get an agent, audition for dozens of film and television roles, learn how to become an archer, sit in a makeup chair for 3-6 hours to be painted blue everyday on set for weeks and months and work out 1.5 hours a day for months on end over about a decade time period. Nothing happened by accident. It was intentional.
You must use your 401(k) in the same manner.
I waitressed, was a phone operator, a gas station attendant, scrubbed toilets, working all the while earning a bachelor’s and Master’s degree, read about 15 personal finance books a year, started a blog and was promoted numerous times at different companies to get to where I am today.
My first million is so close I can feel it tapping me on the shoulder.
When Business Insider did my story, I was at $375,000 in investable assets. I have since seen had my investments grow to $422,000. My $500,000 journey is rapidly coming to an end. Compound interest is barreling me toward the finish line. Depending on market fluctuations, I will hit my target of $500,000 in 365-500 days.
A company going bankrupt cannot blow up my retirement. My pension cannot be taken away from me the same way Lucy takes away that football from Charlie Brown. My 401(k) is mine forever. Just let that silver lining sink in.
About The Author
Miriam started Greenbacks Magnet in 2016 to keep a scorecard of her goal of $1M in investable assets. Armed with a Master in Management (MiM) and a calculator, she teaches readers how to achieve financial independence while also helping them learn how to smell the roses along the way. The palpable response she got from sharing her personal finance goal in a public speaking course at Georgetown University encouraged her to share her story and teach finance on her website. She invests in AI companies as artificial intelligence is the new iPhone of the moment as she likes to invest in companies that are disruptive.
According to a study done by NYU economist Edward Wolff, 84% of stocks are owned by the richest 10% of American households.
Even more extreme than this is the fact that the top 1% hold 50% of all stocks in America. Meaning a teeny tiny amount of Americans own trillions of dollars, and a vast majority own nothing. That type of inequality is just sad.
So many Americans are locked out of a real wealth machine by not being invested in Mr. Market.
Who is Mr. Market?
The New York Stock Exchange (NYSE) is an American stock exchange on Wall Street in New York City. With a market cap of more than US$16 trillion, the NYSE is the world’s largest stock exchange, averaging US$169 billion in daily trading value in 2013.
That would mean the richest 1% own approximately $8 Trillion worth of stocks.
Sadly, only 52% of Americans were invested in stocks.
GALLUP
Let’s fast forward just five years.
According to Barron’s, the stock market is worth $30 Trillion as of 2018. You see that?! The stock market has almost doubled in size! This is tremendous.
In 2008, most portfolios lost half of their value. Now look at us today. The S&P has more than tripled since the Recession! A trillion here, a trillion there and boom we have almost double the assets we had in 2013, the same year LeBron won his second championship ring with the Miami Heat.
Therefore, as of last year the richest 1% now own $16 Trillion dollars of wealth in the stock market.
The richest 10% has a mind-boggling $25.2 Trillion in stock wealth! Each owing over $900,000 in stocks.
Keep in mind that the bottom 50% of the poorest households have virtually no wealth as many have $0 in savings and investments.
The U.S. stock market has been on fire as it returned 22% last year.
With a 220% increase over the last decade, that means the rich are getting richer.
You need to get a piece of that stock pie in the sky
Why is it so important that you invest in Mr. Market? It’s simple. Investing is how you beat inflation.
With inflation averaging 2-3% annually, you must find a way to out run it. Investing will help you do just that.
I do not want you to miss out on the next $8 Trillion the market may gain over the next decade or so. Don’t sit on the bench! Get out there and get in the game! Nothing ventured nothing gained.
Wealth building takes time.
It’s a long game. You may need a decade or more to build some significant assets.
Did you that know with an interest rate of 10% your money doubles every 7.2 years? It’s true. It is because of the rule of 72, which states that a certain amount of compound interest will dictate how much you can earn over time.
I feel like that scene in Oliver Twist when he asks for more. But instead of food, I want dividends! My advice t to you is to invest!!!
Yes, give me some of that compound interest. It’s raining dividends and capital gains.
The first $100,000 is the hardest!
No matter how much you earn, it will take time to grow your wealth to something much grander over time.
Even with a nice return, the majority of your first $100,000 will come from your savings. The higher amount you save, the faster you achieve this goal.
I cut back on everything to get to through this first hurtle on the wealth accumulation phase.
I skipped the movies, $7 lattes, fancy vacations, new cars, clothes, subscriptions services, and nights out on the town. Put that money to work. Don’t act rich, get rich!
I know some guys that want to be rich, but spend like the world is flat like Columbus said; so they think we are going to fall off the edge and it is all going to end tomorrow, so you gotta treat yourself!
These poor souls decided to buy bottle service for a friends 45th birthday. The cost: $4,000! They split it between like four or five people.
Here is a little background on one of the fellas, let’s call him Scotty.
Scotty is still renting after being unable to afford to buy a home. Instead of banking his money for a down payment, he’s tossing around G’s more than Floyd Mayweather after signing a $100 million-dollar deal.
Sorry my man, hate to break it to you, but you ain’t “Money” Mayweather and don’t have his bank account.
Forget that! I would rather be financially independent than act rich for a couple of hours.
And the ladies loved that he spent that $1,000 on that bottle service. But then you know what happened at the end of the night, when the lights came on? All the ladies left!
I guess it was all about the bottle service. That’s just money down the drain right there. Bad money decisions happen everyday.
Maybe it really is like Jamie Foxx said, “blame it on the alcohol.”
Regardless, I want you to put that money in Mr. Market and let it grow.
If you are worried about downturns, then hedge your bets by putting money into savings as well.
Since it usually takes about 10-16 months for the stock market to recover from a crash, keep that amount of money in your savings. This will let you ride out the storm.
The goals is to not have $0 in your bank account. Something is always better than nothing.
Now save up that first $3,000, go open up a Roth IRA with a discount brokerage firm and go get started.
Don’t have $3,000 just lying around? No problem. If you can spare $100 bucks?
If so, then you can use the Automatic Asset Builder that lets you invest for just $100 a month with places like T. Rowe Price or Charles Schwab.
Now let’s go get this money. No excuses! I just gave you all the information you needed to get started.
Happy investing! And may the odds be ever in your favor.
Thank you! And you should let me interview you for my blog. I see you posting everywhere. You're one of the hardest working men in the blog business. pic.twitter.com/o5ZrI7ke8J
So yes ladies and gents, this post happened from a tweet!
He seems as passionate about writing and blogging as I do!
I was born for this, born for this It’s who I am, how could I forget? – Macklemore
How I feel about blogging.
“Tonight, darling, we are going to right a lot of wrongs. And we are going to wrong some rights. The first shall be last; the last shall be first; the meek shall do some earth-inheriting." – John Green, Paper Towns #papertowns
Let’s get right down to it! It goes down in the DM!!! It goes down. It goes down!!! 😂 Yo Gotti – Down In The DM
The blog and the interview was done by Miriam of Greenbacks Magnet, but those lyrics up top are by Yo Gotti.
INTRODUCING
Welcome aboard all! All are welcome!
Welcome to Greenbacks Magnet. Home of attracting Greenbacks like Magnets! 🤣Can I help you find financial freedom?
I want to thank you all for coming along this financial journey with me as I study the self-made and do blog interviews. You know, you are all my copilot’s on this magic carpet ride.
In the illustrious words of #Aladdin Genie, “You ain’t never ever had a friend like meeeee!!!”🤣
Let’s Meet Dave!!!
I actually met Dave at FinCon. He was positive and had a great attitude. That was the thing I remember about him most. He may not have known it but I thought to myself now there’s someone I would not mind working with. 🤔
And here we are today.
Another day, another breath (another breath) Been chasing dreams, but I never slept (I never slept) – Glorious Macklemore featuring Skylar Grey
I told Dave I thought he was one of the hardest working men in the blog business. I said that because I would go to read a post by a personal finance blogger and he would have already been there and posted the very first comment!
I couldn’t keep up with him! And I work HARD!!!
I remember seeing a comment on one blog post he did and he said, “Oh get out the popcorn. I see an interesting comments section coming on this post.”
Yep, that’s Dave.
What it felt like to meet Dave at FinCon.
He’s a genuine guy. 😉
Let’s talk about how Dave caught on financial FIRE!
DAVE STARTS A FINANCIAL FIRE BLOG
GBM: Hey Dave!! You should let me interview you for the blog! 5 questions tops! If it will get this ball rolling. I know you’re busy, but I promise to keep it short and snappy. Scouts honor. 😉
Dave: Hey Miriam, I will have to ponder these and will get back to you, interesting questions 😉
What is FIRE? It stands for Financial Independence Retire Early.
There are tons of blogs out there on the topic.
I even wrote a post called How do you play with FIRE?
WHAT IS FIRE?
According to Camp Fire Finance, the elevator pitch for FIRE is this, “When your investments generate enough money to cover your annual expenses you’re financially independent (FI). At that point work is optional and you can retire early (RE) if you want to.”
Basically, you have more than enough money coming in to stop working. Usually, this requires anywhere from $1 million to $5 million dollars depending on what you want or need to spend to maintain your lifestyle or that of the one you dream of having.
For example, if you decide you want to withdraw at least $80,000 a year, you would need to have a $2-million-dollar portfolio.
This is how I visualize myself on FIRE! 😂💋
Jennifer Lawrence in the Hunger Games was serving them eye candy with that dress. It was literally ON FIRE!!!
To stay on theme, I will pick this image for Dave. 😉
Let’s get to the interview. 😊
Dave: Hey Miriam, here are my responses.
1. How did you come up with your blog name?
I named my blog Accidental FIRE because I reached FI accidentally – meaning I wasn’t intentionally trying to get to a point where I didn’t have to work anymore. I just wanted as much of a nest egg as I could get because I come from a background and family that has no money. So it was about building security in my life. But when I discovered the 4% etc it then accidentally became about working less too.
Good for you! 👍
It’s great to have goals. I call that a win!
GBM Miriam: Some people may think building a nest egg from the ground up is impossible. I say personal finance is not rocket science. It is about earning, saving, and consistency.
Thanks for keeping it 💯and sharing that.
2. Any favorite finance books? What’s on your nightstand?
My favorite financial book is “The Simple Path To wealth” by JL Collins because it does the best job of boiling the basics down to make a FI path, well, simple. On my nightstand now are two books “War Letters: Extraordinary Correspondence from American Wars”, and “The Coddling of the American Mind: How Good Intentions and Bad Ideas Are Setting Up a Generation for Failure”. Also my eyeglasses and a candle.
Well ok ✌That’s some good reading material right there. 👍
GBM Miriam: I am actually reading The Simple Path to Wealth by JL Collins right now! I guess great minds think alike! 😉
This was me in school. 😂
Even today, if I’m not reading, I like to exercise. 🤣 I like to keep busy. No idle hands.
I still read comic books too! My favorite is Red Sonja.
She Devil with a Sword
Fun Fact: The Marvel comic Red Sonja was turned into a film in 1985 starring one of my favorite self-made people to quote Arnold Schwarzenegger.
“Don’t focus on getting to $1 million; focus on getting to $2 million.” – Arnold Schwarzenegger
I heard that little gem when Mr. Schwarzenegger was doing a radio interview.
I’ve learned to make every dollar count. Focus on turning every $1 into $2. Instead of $1 million focus on $2 million. I learned that from @Schwarzenegger 😉
Just my 2 cents. Smooches 💋
How Arnold Schwarzenegger Totally Recalls making $20 million-dollar paychecks https://t.co/bINnB2OlIp
3. What’s the most interesting thing about you that we wouldn’t learn from your resume?
I’m a pretty good juggler.
Awesome! 👍That’s pretty cool.
4. What’s in your wallet? How did you start building wealth?
If you mean what kind of credit card I have a US Bank VISA that gives great reward points and that I use for everything. I started building wealth as soon as I started working when I was 16, I’ve always spent less than I made. But I started supercharging my wealth-building after reading a copy of Money magazine in 1995 and putting money in index funds.
Nice! 👌
GBM Miriam: I actually started after reading a Kiplinger magazine around 2007. I also put my money in index funds like the VFINX 500 index with Vanguard, which tracks an index like the S&P 500.
I try to save and invest over 40% of my income.
Although it is now closed to new investors you can put money into the VTSAX which is 80% comprised of the 500 largest companies in the United States.
Your story on how you grew up and got started building wealth reminds me of the song Glorious from Macklemore.
I feel glorious, glorious Got a chance to start again!
I loved it in the Crazy Rich Asians movie trailer.
I couldn't be afraid to face my reality. I had to live my truth and say to myself just stop charging and use cash.
5. What 80’s film best describes your relationship with money or the lifestyle you would like to have?
I guess I’d pick “Stand By Me” It doesn’t have much to do with money but I love the movie because it reminds me of my childhood – being in a small pack of super close friends and exploring and maybe sometimes getting into thins we shouldn’t have. And I’m still friends with all those guys today so it’s fun to reminisce about when we were younger and our knees didn’t hurt so much!
I hear you! 😉
Love that movie! It had some inspiring words. Love the 80’s. 💖
You know? Dialogue like this. 🤣
GBM Miriam: Seriously, though that film makes me tear up at the end every time. A great coming of age story about friendship.
Why we blog about finances?
I’ll let Skylar Grey answer that:
We gon’ be alright, put that on my life When I open my eyes, hope I see you shine Now I feel glorious, glorious I feel glorious, glorious
Well, we have come to the end of this interview. Hope you had fun.
Here at Greenbacks Magnet we like to have fun. And I had a blast!!!
GBM Miriam: Thank you Dave for stopping by!! I sure hope we will see each other again at the next money meets media conference as FinCon19 is coming to DC! But if not, there is always Twitter and DM’s. 😉
I bid you all farewell. Until we meet or tweet again.
I will give you one of my farewell messages that I tweet as a show of my appreciate for you hanging out with me here at Greenbacks Magnet.
Hope you had fun with me today and my Lipstick confessions. I must bid you all a good night. And go back to my regular identity. May the 80s live on forever in our hearts. Smooches💋 Greenbacks Magnet
“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.
