When will you be a milliionaire?

[poundwise]

Re: When will you be a milliionaire?


I don't mean to sound negative about having goals or having a financial plan in life or anything of the sort, however...

To some extent, I question the goal. Do you mean a millionaire who has helped others and just happens to have attained that net worth through dilligence and as a good steward? Or do you mean someone who has sought after getting rich and becoming a millionaire above all else?

I'm afraid too many times the former person becomes the latter in pursuit of the goal.

Food for thought:

"He who loves money will not be satisfied with money, nor he who loves abundance with its income. This too is vanity." - Ecclesiastes 5:10

"But those who want to get rich fall into temptation and a snare..." - 1 Timothy 6:9

Please don't read anything into my post or be offended that I offer this reply. This is just what came to my mind when I considered for myself the question of when would I become a millionaire.

[Lemony]

Re: When will you be a milliionaire?

What? Did you by a lottery ticket Lemony? Not the best investment of a dollar

true. I guess I'll be kicking myself one day if I make it to $999,999.00 but no farther, eh?

actually, DH is hoping for a job offer from a large, prosperous company in America (we're Canadians). If he gets the job and we move, but still live as frugally as we're living now, we'll be millionaires long before I'm 67. Probably not next week, though, but I can cross my fingers.

[jmjj215]

Re: When will you be a milliionaire?

I think it would be cool to make it when I'm 40. That's kind of my goal at the moment.

I sure sound convinced, don't I?

[cptacek]

Re: When will you be a milliionaire?

Ick, I don't know how many dates were ruined either by
1. <bragging> The guy saying "I make a lot of money, you know." </bragging>
2. The guy saying "I make a lot of money, you know" and then he told me how much he made and I made more. I mean, if you are going to brag about how much you make, it should be ridiculously high. Like movie star high. Otherwise, on the first few dates, don't say anything about it!

Now, once you are further along in your relationship, I don't think a conversation about how much your net worth will be in the future would help much, but definately what your goals for the future are. I guess it depends on the tone of the conversation. Some people are braggarts that I can't stand, but planning your resources together and expectations from each party would help get around some of the money issues people have.

Some of this boils down to maturity. I have a few sisters that got married very young, they didn't have any idea how much it took to live on, and assumed that they could live frugaly as my parents did, instead of how their husbands like to. They are both having money trouble in their marriages, and it is very stressful on them.

[frugalfarmwife]

Re: When will you be a milliionaire?

Ya ever hear the phrase "land rich/cash poor"? LOL, thats us! The bank basically owns the house and we own the rest, it ain't easy but we're getting there. Our land is only 1 mile from town and the way things have grown the land is going up constantly in value.

We do have other retirement and savings, but the land is our main retirement investment, we plan on selling it at retirement, buying a small place, 5 acres or so, and SPENDING IT!
No kids and we're NOT leaving it to family, lol, I'll set up a home for wayward bunny rabbits first and they know it!

kj

[Crystallas]

Re: When will you be a milliionaire?

Well, I dont disclose my value. I dont think a person should be associated withtheir finacial status, but I hit the big-seven 3 years ago.

I wish all of you good luck on hitting the milestone. You wont know what to do with yourself after it happens(unless your retiring) no matter how much you plan it out. Once you hit that level of spending discipline, you're pretty satisfied(unless its easy money.)

[Ima saver]

Re: When will you be a milliionaire?

Yeah, it really doesn't make that much of a difference in how we live. We still do the same things. I know we could have a lot more money if my husband 's hobby wasn't cars, but he has worked so hard, 7 days a week, that I feel he deserves to enjoy his cars!!

[disneysteve]

Re: When will you be a milliionaire?

The calculator I've used puts it at about 53 for me. My goal is to do it no later than 50. I'm almost 42 now, so that gives me 8 years to sock away more savings and maximize returns.

By the way, I only use a 7% return in my projections. I know some people use a higher number, but I prefer to be conservative in predictions.

[jmjj215]

Re: When will you be a milliionaire?

The guy saying "I make a lot of money, you know" and then he told me how much he made and I made more. I mean, if you are going to brag about how much you make, it should be ridiculously high. Like movie star high.

Um, this was a very funny comment

Well, I dont disclose my value. I dont think a person should be associated withtheir finacial status, but I hit the big-seven 3 years ago.

I wish all of you good luck on hitting the milestone. You wont know what to do with yourself after it happens(unless your retiring) no matter how much you plan it out. Once you hit that level of spending discipline, you're pretty satisfied(unless its easy money.)

I'm hoping we can make so much that we don't have to be disciplined...

[Ima saver]

Re: When will you be a milliionaire?

It doesn't matter, really, how much you make. It matters how much you keep. The less you make the longer it will take to become a millionaire, but you can do it!

[jmjj215]

Re: When will you be a milliionaire?

It doesn't matter, really, how much you make. It matters how much you keep. The less you make the longer it will take to become a millionaire, but you can do it!

I think it matters quite a bit. Both sides of the equation come into play. I think people deemphasize the income side a bit too often sometimes. When you have a really big income, you can do really big things.