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Pete has lived a true rags-to-riches kind of story.
He began his career as a high school shop teacher, but had trouble making ends meet. Pete wanted to get into something more lucrative to provide a better life for his family. So he quit his teaching job and went into the welding industry. When that didn’t quite pan out, Pete found himself broke, unemployed, and desperate for a change.
Pete and his family were living in a single-wide trailer with broken windows. Their financial struggles were impacting all areas of their life. Times were so tough, one year Pete had to tell his four-year-old little girl they didn’t have any money for Christmas. It was then he realized he needed true goals to help shape the direction of his life.
But things eventually began to look up! Pete landed a job as a financial advisor and was doing better than he had in years.
Still stunned by his new profitable career, Pete began to save half of his salary. Whether he made $25,000, $50,000 or $100,000—half of it was put in a savings account. That savings was key to launching Pete to millionaire status. So how’d he do it?
"It’s very simple: don’t spend all you make," Pete said.
Understand & Own Your Investing Future
Pete will be the first to tell you it was a tough road to success. But no matter the circumstances, his spirit wasn’t going to be conquered. It all comes down to making the right choices, including the decision to save. As Dave always says, "Your biggest wealth building tool is your income." Pete made saving a priority in his life, and he’s now a millionaire because of it.
"It’s hard to beat somebody who just won’t quit," he said.
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