Millionaires in the making

[Russell]

Once in a while I read this column at cnn.com:

http://money.cnn.com/pf/millionaire/

It definitely keeps me motivated but reading it and also observing a few people I've also come to realize that these days there are a lot of people that are quite rich but you can't really tell. I know of one couple that are at least millionaires but they older average cars and live a simple life.

I feel my parents generation in general was never as rich as my generation is, of course there are those of us who aren't...

What do you guys think ?

[terry1156]

I've always enjoyed this column. It gives a lot of different perspectives on how people are working their way to become millionaires. It seems a lot of them are able to get where they are due to real estate investments.

[Tree0164]

I always love reading these articles as well! Keeps me motivated

[nixuzer]

If you'd like to get a really good snapshot of millionaires and haven't read The Millionaire Next Door I'd recommend you pick up a copy.

[CRFSaver]

Great Articles and very motivating.

[kateochang]

I love this kind of topic too! It is true that sometimes, you just cannot tell whether the person that you walk beside with on the way to a bus station is a millionaire or not. Nowadays, some millionaires that I know lead a very simple life and I'm like woww..unbelievable.

Never judge a book by its cover.

[Fern]

I like this series, too.

There are a lot of millionnaires, but you know, a million is not worth as much anymore. I guess it's relative.

[simpleyme]

the lesson is you just never know who your talking to,I had a gal tell me how she had ripped off her last landlord leaving without paying last months rent then turn around and ask me if I knew anyplace for rent ,I smiled and said no even tho I did have an empty apartment for rent ;-)

most of the truly rich people I know are very modest

[Joan.of.the.Arch]

As this is the general discussion forum which need not be savings focused, I'd like to take simplyme's comment a bit further. the lesson is you just never know who your talking to

Indeed. Haven't we all had times when someone had no idea to whom they were talking and revealed themselves sorely in a way that could have been much to their own detriment?

An example-- Once, I was asked by a close friend to deliver a message to a man she was doing pro-bono work for as an immigration lawyer. She had been unable to reach him by phone (pre-email days). I was volunteering with her on his case and I happened to work at the same institution as he did, though he did not know me. He was an MD; I was something much "lower." Next evening we were working in the same room along with a couple other MDs and I think a nurse, so I took the opportunity to tell him that XXX wanted him to call. His response was very cold and a little nervous, as though wishing to push me away from association with him, I think because he thought that others might have a poorer opinion of him for having anything to do with someone of my place. If I were easily offended, I might have let that affect my volunteer work on his behalf, in which case it was conceivable that he might have lost his Visa appeal and hence job and ability to stay in this country at all.

[Ima saver]

My husband is in construction and wears construction looking clothes, you know with paint stains, etc.
I often have him go to the bank with me to open accounts, so that he can sign the forms.
Usually when I ask if we can open a high paying money market account, they tell me no, there is a minimum of $50,000 to get that rate.
I then write out a check for $100,000 and that floors them!!

[disneysteve]

I agree that reading those types of stories can be very motivating. I also agree that "The Millionaire Next Door" is a great read and shows how very often the folks who look rich aren't and the ones who look quite ordinary are really the wealthy ones.

Ultimately, though, reading how someone is on track to have a million dollars by age 65 doesn't do me a lot of good as one million isn't nearly enough. I'm shooting for $2.5 million before I can retire comfortably around age 62.

[crfga]

I agree 2.5 mil would be a good start.