The Ten Roads to Riches: The Ways the Wealthy Got There (And How You Can Too!)

Inventing Income 151

But former presidents have

other

income source s. You can be

on paid boards of

directors-a

s many that want you. Gerald Ford

was huge at doing these (as well as paid

speeches-it's

amazing how

someone who was voted

out

of office and no one much wanted to

hear as president is suddenly in demand after). You can be a paid

adviser with consulting contracts as Clinton did with billionaire

Ron Burkle (net worth $3.5

billionj

.r'

Hiring

a past president is

a thinly veiled attempt to pay for lobbying links.

No

one has better

connections than a past president.

Let

me summarize.

The

Clintons

went from being at least $3 million (and probably more) in the hole

in 2001 to being worth $35 million seven years later.

IF

YOU

CAN'T

BE

PRESIDENT

...

But few have the chops to run for president and win. Still, you

aren't precluded from a lifetime of invented political

income-

become a member of Congress! Starting pay is $169,300 a year (as

of 2008)

.24

Not

huge, but you're in America's 96th percentile while

building your real

wealth.i? And you don't need to do anything in

Congress.

Of

course, for bigger bucks you hustle .

Get

a leadership

role and income bumps to $183,500.

The

Speaker of the

House

collects $217,400.

26

Nice for Nancy Pelosi! (With a net worth of

$86 million,

Nanc

y's the ninth wealthiest House

mernberlj/

? Also,

they get an annual cost-of-living adjustment. And they receive

health benefits and a rich retirement plan that