Advice from 5 midlife millionaires

All of these people learned valuable lessons that they put to use later in life in ventures that vaulted them into the ranks of the wealthy. Find out how they did it.

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VIDEO ON MSN MONEY

73Comments
May 21, 2012 9:23PM
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luck is the intersection of work and chance. 

theses people worked hard then got lucky.  the advice they should have given was work hard (by opening your own business), then get lucky.

May 22, 2012 11:49AM
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Could be a great article if you featured everyday folks who, did the "right" things, getting an education, good jobs, saving for a rainy day, investing some of what they made on a monthly basis, buying things cheaply, negotiating prices, and countless other practices that eventually led to the ability to retire at age 55, from teaching, and government employment as millionairs .....these are the true rags to riches stories that could give people hope.  Been there and donit....

 

May 22, 2012 7:59AM
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Obama qualifies as a self made millionaire who never worked a day in his life...
May 25, 2012 6:31PM
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I applaud the Obama family for their tenacity, vision of hope, persistence to reach their goals and the ability to gain the knowledge and wisdom needed to to overcome the challenges of life.  The Obama "haters" will never have anything good to say about our President.  They will always look for an opportunity to bash him and his family.  Don't be jealous of his success!  Go out and create your own SUCCESS, "haters"!  

 

May 25, 2012 5:53PM
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Obama belongs on this list.  Writing  a best seller (twice) requires requires a literate and intelligent approach.  And, a career community organizer speaks to passion, organizational skills and people smarts.  So why are so many of his detractors NOT on any such list?

May 22, 2012 11:07AM
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What a joke to include Obama. Why dilute the message about working hard to make it by including a guy who has done nothing deserving of such accolades. There are so many rags to riches stories to talk about but you decide to take the easy way out. There's a collective laugh for such nonsense. 
May 25, 2012 6:53PM
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The Obama haters are funny.    Barack is intelligent, a Harvard Graduate, and chose to help run the country instead of going into private business where he could have made much more money.  He is a roll model for all people.

 

The GOP hates Barack so much that they can't see straight..  Almost like temporary insanity.   The beautiful thing is, is that facts don't lie no matter how much money they spend.    One of the funny examples of the illogical hateful GOP is the Detroit success story.    Some GOP say that Detroit has lost more jobs because of the GM Auto success story.   Other GOP say that Romney deserves the credit.    They're so hateful, they've lost their mind.     Try love.   It's easier and more successful.  

 

If you honestly want to know how great Barack is doing as president check The Bureau of Labor Statistics, Facts.gov, or Politifacts.   

 

Barack will be back in the White House for another 4 years.  

 

May 22, 2012 9:20AM
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Oh, please you give credit to obama for becoming successful at midlife of 43? There are a million authors out there who have done better than he at that.
May 22, 2012 3:17PM
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Working hard and making good decisions has a lot more to do with success than getting lucky not to mention knowing how to work the system. Of the six shown I think only 1 had gone threw bankrupts but I think people would be really surprised how many people that have wealth today have filed bankrupts on their way to wealth. Look at Donald Trump, how many times did he and know look at him and yet their are people who would not consider him a success.

May 25, 2012 5:57PM
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Go ahead, say it out loud ... Obama 's black and successful and you're a bigot and will find any excuse to cut him down..

 

May 25, 2012 9:37PM
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Martha Stewart .. went to jail for under the table stock trading. she did get the bail out.

I can't wait to see what happens to FB stock and everyone getting sued.

that's the funnest thing I have every seen in the stock market.

FB isn't worth crap. they don't have anything to offer us.

Starbucks is the same as FB. just over priced Coffee. they treat the coffee farmers like crap.

Wal-Mart. if it wan't for President Reagan lifting the Sanction on China. they wouldn't be where they are today. and most of the jobs would still be in the US.

every President did something to send more jobs out of the US. just look into the History of our leaders.

It is always the smart people screwing over the working man.

they live off the backs of the Middle Class.

this won't last long. before they force everyone in the US into bankruptcy. the US will hit that mark before we get the chance. if that happens we're all screwed. that's what it looks like in about 5 to 8 more years down the road.

Stock's came back up but we still don't have Jobs. because the owners of the big companies found out that we will work harder for less money. all the while they fill their pockets..

why does big management need Mill or Bill of dollars in their big boy pants. there is no answer to this question. if they cut their salaries they could put more people back to work. THey Won't...

May 22, 2012 12:36PM
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Is there a POTUS in recent time who *wasn't* a millonnaire?

May 25, 2012 11:48PM
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You have to have money, or people who are willing to back you, to make money!
May 25, 2012 7:42PM
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Harlan Sanders of Kentucky fried chicken.   His is the late-life sucess story I always heard about, starting KFC at 63.
May 25, 2012 5:15PM
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What a joke to include Barack Obama. He is a politician, our President and a career community organizer. Hardly the ideal for entrepreneurship. Success politically and from donations yes, Please, you list him first in this article.....?
May 26, 2012 2:15AM
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So: Be willing to risk your security, have super skills in something, have the money to have a brand to support, etc.  Sounds to me like these folks had a lot going for them to begin with.  I think 1) Educate yourself, 2) Figure out how to gather wealth and investors, 3) Cross your fingers and have a safety net because most attempts fail and living in a van down by the river sucks.

May 25, 2012 11:38PM
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SOME PEOPLE ARE SO LAZY ALWAYS WANT HAND-OUT SO THEY WILL NEVER GET RICH OR EVEN NEAR TO GET RICH ,THERE MIND SET ON HOW THEY THINK AS TO CHANGE AS WELL.
May 25, 2012 6:48PM
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The Obama haters are funny.    Barack is intelligent, a Harvard Graduate, and chose to help run the country instead of going into private business where he could have made much more money.  He is a roll model for all people.

 

The GOP hate Barack so much that they can't see straight..  Almost like temporary instanity.   The beautiful thing is, is that facts don't lie no matter how much money they spend.    One of the funny examples of the illogical hateful GOP is the Detroit success story.    Some GOP say that Detroit has lost more jobs because of the GM Auto success story.   Other GOP say that Romney deserves the credit.    They're so hateful, they've lost their mind.     Try love.   It's easier and more successful.  

 

If you honestly want to know how great Barack is doing as president check The Bureau of Labor Statistics, Facts.gov, or Politifacts.   

 

Barack will be back in the White House for another 4 years.  

May 25, 2012 7:17PM
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Wally Amos is not a success story.  He stole hundreds of thousands of dollars from his now ex-wife....all the while cheating on her and then leaving her.  He is a horrible role model for life and business.  Shame on MSN for not doing their HW!
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