Quote:
Originally Posted by rice_classic
I'm sorry but that's simply not true at all. It's a falsehood that's so often perpetuated by the folks who benefit from you believing it.
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The millionaires have certainly removed personal risk, by using corps., and llc's. "Business owner" would have been a better term to use for part of that statement, in the hopeful climb to that multimillionaire status. I've seen them borrow against 401k's, 2nd and 3rd mortgages, etc. I've also seen them remove themselves from the payroll, so they could keep employees on, during slow periods. I can only speak from my experience though.