From Rags to Moneyed Millennials

One of my best friends just got in to the Richardson School of Law. In a few years' time, he'll start with an individual income equivalent to what the average Honolulu family of four brings in annually ($74,511). Further on, he should be closing in on at least six figures ($92,890), and if he doesn't drown in Scotch by 50, he ought to be pushing $156,320+/year.

Oh, and he's part-Hawaiian. And while it shouldn't matter, it kinda does.

I recently came across an online video that focuses on a predominantly Hawaiian homeless community and the burdens of living in Hawaii. Public opinion is mixed and part of me doesn't care for the sob story. While the viewer is led to feel twenty minutes of sympathy, the decisions that have brought these people to their final destination are not accounted for.

To those who say, "Well, these Hawaiians had it rough. They were a product of their environment and faced overwhelming odds," listen to this:

A friend of mine came to the U.S. seven years ago, barely speaking English, and with only $200 in her pocket. She relentlessly worked and saved her money. Just this month, she bought a $500K condo in urban Honolulu.

Hey - if she can make it, anyone can make it. We need to stop with the excuses.

As a Hawaiian myself, I know what obstacles are. However, no matter what our ethnicity, nationality, or circumstance, we are capable of making decisions that can direct or alter the course of our lives.

The landmark Stanford Marshmallow Experiment proved that self-discipline is a critical factor for an improved quality of life. To wit, the children in the study that waited 15 minutes to eat a marshmallow ended up smarter, fitter, and more successful than the kids that settled for immediate gratification.

Dave Ramsey has a website that teaches the "7 Baby Steps to Financial Peace." In his podcasts, people from various income and education levels talk about how they've built wealth through working, paying off debts, saving and investing money. It's not rocket science. As Mr. Ramsey says, "If you will live like no one else, later you will live like no one else."

Poverty isn't a lifetime sentence (unless one allows it) and with the right mindset anyone can become rich (or at least middle-class) in America. I think it is excessive for our government to spend a fortune on welfare handouts when the permanent solution to poverty is the mind.

In any case, I don't presume to have all the answers (although I kinda do) but I do know that successful people like my soon-to-be lawyer friend, my physician friends, my friends in business and government, (oh, and maybe me); all made generally good decisions throughout of our lives. And as the Good Book says, "Faith, if it hath not works, is dead." -James 2:17

On another note, anyone get $20 for borrow? Pay you back, promise.