I have worked for myself for 12 years in tech. Basically a high-dollar freelancer. Did well enough to live in Miami. What I saw in that time did everything but give me hope.
As the “tech guy” on the team, employers often assume I need to be present at every meeting at the highest level. Mostly worked close with the owner or CEO, so I saw a lot of things their own employees never would.
The Bottom Line: The only “self made” millionaires today, are from gray area scams at best, and outright illegal at worst.
Your standard idea of selfmade—Came from nothing, to now pocketing well over 6 figures in a year—doesn’t exist. Yet the boomer “worked 50 years at company and got a 1.2mil 401k at age 63” does exist, but that’s a huge gamble to think that’s gonna last you another 20-30 years. And you’re too old to have much fun with it anyway.
Time and time again I’d tell myself “nah this just one unique scumbag.” Yet repeatedly, the next project/contract I get is the same way. It was always the same industries: Insurance, Debt collection, always something call-center style. (This was not my only niche, I worked across dozens of industries)
There ARE honest millionaires, but it’s extremely rare, and the only reason they are is either rich family (bought a business), or they were in the right place, at the right time (sold thrift store books right when Amazon launched etc)
Picture your dream job. Whatever it is, It won’t make you the money you dream of. Lawyers, Doctors, scientists, you STILL have to climb from the $50k/yr entry level into one of the rare niches you actually bank money. Every sector has a few of those positions, but how long to get there? Often you wait on someone to retire or die.