Will you become a millionaire

[Gruntina]

Originally Posted by Broken Arrow

I know this has been brought up before, but yes, my goal is NOT to become a millionaire. My real goal is Financial Freedom!

However, to achieve my definition of Financial Freedom would require at least one million, but preferably several more.

The distinction may seem subtle at first, but the focus is on quality of life and a sense of satisfaction with the time that I have been given, not some arbitrary dollar amount to reach... and then what? Forget everything and blow it all at Vegas for a few months?

No.

Life. That's what's really important to me. Being a (multi-)millionaire is just the means to get me to where I want to be. The distinction may be subtle, but it is very real and very important.


Yes, I definitely think of it in terms of net worth as well.

Sometimes "Life Happens" and not comfortable at the present moment with financial... Though we have to work hard to get out of it, we may also try to make the best out of it. Some of my most enjoyable and precious moments when I was living with my mom when we did not have shelter.

[Ima saver]

You go tina!![Automated by GetSmile]

[The Budget Man]

I'm working on the idea that there are seasons in my life. Sometimes there are seasons of plenty and I can increase my wealth. Sometimes there are seasons where money is tight.

My challenge is to be positive no matter what the season. One day I'll find that I've gone over the "magic million" figure and that will be good, but that is not the key.

Enjoy Your Money
The Budget Man

www.PersonalityBudgeting.com
A budget that works in good and bad times

[greedy4chips]

I plan on being a millionaire 3-4 times over and around here that is alot. I can see a home in Cal. or east coast being 1 million+ easily in 30 yrs. But my hope is to have the money and not just the assets like a house make up the million(s). It is hard to spend a house.

"Million dollars" is really a relative term, and some could feel like a millionaire if they had $100,000 and others would feel poor if they had 10 million.

Readers Digest asked 10 people with net worths ranging from 1 million to 10 million (1 person for each million dollar level) what amount of money they would need to live comfortably and each person stated if they had twice what they had now they would be set for life! hmmm, why is that?

We have a tendency to live just beyond our means or very close to it at least so whether you make $6.00/hr or $60.00/hr you spend a large portion of your income and believe you would be secure at double your income, but your spending habits will quickly follow.

I have a friend who married a woman with 2 sons from a previous marriage. She worked up to 3 jobs at a time to make ends meet and lived very frugally. Her hubby makes in excess of $100k and now she spends like there is no end to the income (to hubby's slight complaints). All of our mutual friends have noticed a huge change in her since we first met her years ago. She used to be down to earth, but has since begun to only hang out with her "well to do" friends and that is fine with the rest of us. She always tells us how much she spends redoing the cupboard handles, faucets, flooring, etc in their house and we all just want to puke!

I just want to be comfortable and if that takes $10 or 10 million that is fine and ultimately should be all of our goals...to be comfortable at our current level of income and investments. We all don't need to have the drive to own the biggest house or nicest car, since in the end people only like you for who you are and not what you have.

[mzlatisha]

i want to retire now...but i am broke...

[lisajane]

I know I will become a millionaire, living any sort of adventurous life will be impossible if I'm limited in terms of money. Money itself isn't important to me, but the opportunity it brings is.

I know in my heart I'll be a millionaire before i'm 40.

[Ima saver]

Good for you Lisa. I am surprised that almost anyone can become a millionaire and not make very much money. It is not what you make that counts, but what you keep.

[lisajane]

I personally think it has a lot to do with Karma, but I hope people don't think I'm crazy for saying that. But I believe what you give, comes back threefold.

[Kris10Leigh]

Hmmmmmm...here's something to think about.

If I could invest what I currently pay toward debt, at 8% interest, in 30 years I could have $1,417,613.25. I think I need to get that debt paid off!

I fully expect to have one million some day and hopefully more. Our current goal is to pay off the debt and then work toward living on one salary and investing the other.

[Kris10Leigh]

LisaJane, I don't exactly believe in carma, but I can tell you that EVERY time I have ever given a large sum (to us anyway) to the church, it has doubled coming back to us. Within days I seem to find unexpected money in the mail. It's weird...and food for thought.

[Ima saver]

Wow Kristen, imagine having that much money in 30 years!! You have got to get that debt gone for good! I do believe that what goes around comes around.

[The Budget Man]

Spent time doing television this week. It's been a while and I was fairly stressed. Funny how quickly though you feel comfortable back in front of the lights.

Anyhow I was talking with two very different women. The first lady had been through the mill. Marriage breakup lost contact with family etc. The exciting part was how she was climbing back. New relationship gaining self esteem and getting her life on the rails.

This lady has my total respect. She is getting it together, including her budget. Now I don't think she ever plans on being a millionaire, but she sure is taking the right steps. Meeting people like her is really encouraging !

The second lady, well that was a different story. This lady had won big time in a lottery a few years back. The money is gone and she has no idea where. She is now living in a rented unit. Worse still is that she has no interest or desire for the future.

If we had met these two ladies a few years ago we would have thought the lady who won all the money would have the best chance of a happy life.

The Personality Budgeting Quiz was 'spot on' for both of the ladies! Their comments yet again reinforced the need for each of us to have a budget that suits our financial personality.

It all goes to show that you can't measure courage and you can't predict who is going to be the millionaire!

Enjoy Your Money
The Budget Man

www.PersonalityBudgeting.com

The budget you can live with

[Jaynen]

Originally Posted by Bluezy

I'm not discounting that thought. Who knows.

Now-a-days, it's more like if you borrow a million dollars from the bank you have a problem, if you borrow A HUNDRED MILLION DOLLARS, they have a problem. - My mentor says that

Perhaps it's something in Missed Fortune 101. I would know if I ever finish the book.

To answer the question at hand, I should approaching millionaire status year end 2007; and it most definitely is not the accomplishment it used to be. ESPECIALLY, not here in california; there are many places (and I mean zip codes, not small neighborhoods) that you cannot even afford to live if you only make a million dollars a year.