Debt Free and Rich with Low Income: How did he do it?
Hello! I'm 53 years old this year (2015). I've never won the lottery, or had a big investment payoff, and I've never earned more than $17 an hour. I'm debt free, I own three homes (paid in full). I've never paid a dime of interest on a car. And if you count my investments and retirement accounts, I'm currently worth $2.5 million.
My name is Stephen Wage, and this is my story.
The Car Fund
I started working part time when I was 15 years old, as a stocker in a Ralph's Grocery Store. I took the bus everywhere until I could afford a $500.00 car. At 15.5 I had my permit, and by 16 I had my license. I drove that cash car while I made monthly payments to myself into a savings account. That went on until 17.5 years old, at which time I had saved up and bought a $2,000.00 car.
In 1979, that was a …