Re: Does it take luck to become a millionaire?
I think you are making this a lot more difficult than it really is. First off, if you are young, you will most likely be dollar-cost averaging. This means that you put the market's volatility to work for you. In other words, when stock prices are low, you buy more shares, when stock prices are high, you buy less shares. In the long-run you should do just fine.
Also, you say: "So if the stock market happens to be bad your first few years..." Actually, if the market has to be down, you want the down years when you first start investing, when you don't have as much capital at risk. A 20% loss on a $1,000 investment is much better than a 20% loss on a $1,000,000.
I urge you to get a copy of Jeremy Siegel's Stocks for the Long Run and read it. You will do yourself a big favor if you do.
JLP
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