Step 10 takes the fanciful view of life on minimum wage to the maximum. “Invest in yourself” it says. “Spend your free time: Upgrading your job skills (e.g., trade school, community college)” as if a degree guaranteed escape from drudgery. 2% of college graduates work for minimum wage.
“Learn to make money on the side (e.g., driver for uber, sell furniture on craigslist” [stet] Good luck driving customers around on the handlebars of your free bike! Hauling furniture should be easy after that.
Here’s the real fantasy: “If you increase your earnings to a modest $32,000, you could become financially independent in just 10 years” Oh is that all one has to do to build wealth on minimum wage? Just make more than double what minimum wage actually is! Never mind that $32k is a more than 120% increase in income. Never mind that raising the minimum wage to $15/hour would be the only way to bring this about. Just “modestly” more than double your income in the highest job turnover industries!
A table which assumes a 4% inflation adjusted return over ten years simultaneously pretends no costs of living will increase by so much as a penny over the next decade.
The purpose of this long illustration was never to help low income Americans get by. It was always only ever to sell investment products to people making at least more than double.