This is basically my situation.
Do You Think You'll Ever Be A Millionaire? If So, How?
- Thread starter G.O.A.T Squad Spokesman
- Start date
This is basically my situation.
On paper I am.....I got about £300,000 ($420,000) equity in my house in London If I were to sell it today.... I have to properties in Nigeria I own outright that are worth well over $300,000 each and Ive got about $140,000 saved in various accounts ....
My Mom passed away last year , she was wealthy in her own right aside from my Dad (Nigerian women are hustlers) so she left various properties and parcels of land to me and my brother and three sisters, for now we have agreed not to liquidate anything because nobody is really hurting for cash, and we are still going through probate so cash and shares havent even been divided up....
This is aside from my share in the company me and my brother own (waste management) which is worth a lot...
when I type this out it looks great but Im far from balling, In Nigeria I drive a 2014 Ford expedition and in England I drive a company leased 2015 mercedes E class.... my only real bad habit is clothes, I still spend way to much on them other than that Im pretty frugal
me and my brother pay ourselves only $3000 each per month from our company , this is because we have certain plans where we can really cash in but we have to have a healthy balance sheet...
because we both fly between UK and London about 8 times a year each we expense the flight tickets to the company, my car is expensed and of course any business entertaining .....
I have a very very close friend who in 2010 had over $580,000 in his current account alone , a barber shop, a hair salon, a clothes store and 6 apartments he was renting out.... he is now broke, lost everything...
One of my three closest friends blew over $350,000 in one year alone in 2008 on partying and women and now hes hurting for cash....
I done some really dumb things when I was younger concerning money, although I never went through those kinds of amounts (no regrets) but because of that I tend to just hold it down and be conservative in my spending
My Mom passed away last year , she was wealthy in her own right aside from my Dad (Nigerian women are hustlers) so she left various properties and parcels of land to me and my brother and three sisters, for now we have agreed not to liquidate anything because nobody is really hurting for cash, and we are still going through probate so cash and shares havent even been divided up....
This is aside from my share in the company me and my brother own (waste management) which is worth a lot...
when I type this out it looks great but Im far from balling, In Nigeria I drive a 2014 Ford expedition and in England I drive a company leased 2015 mercedes E class.... my only real bad habit is clothes, I still spend way to much on them other than that Im pretty frugal
me and my brother pay ourselves only $3000 each per month from our company , this is because we have certain plans where we can really cash in but we have to have a healthy balance sheet...
because we both fly between UK and London about 8 times a year each we expense the flight tickets to the company, my car is expensed and of course any business entertaining .....
I have a very very close friend who in 2010 had over $580,000 in his current account alone , a barber shop, a hair salon, a clothes store and 6 apartments he was renting out.... he is now broke, lost everything...
One of my three closest friends blew over $350,000 in one year alone in 2008 on partying and women and now hes hurting for cash....
I done some really dumb things when I was younger concerning money, although I never went through those kinds of amounts (no regrets) but because of that I tend to just hold it down and be conservative in my spending
sayyestothis
Free the guys
Due to inflation and self directed retirement savings 1MM shouldn't be that hard if you actually fund yur 401k and buy a house. You should easily have over 1MM by the time you 70.
Do the math. You put in 12k a yr to your 401k for 30 yrs w average return of 7 you already at 1.1MM right there.
Do the math. You put in 12k a yr to your 401k for 30 yrs w average return of 7 you already at 1.1MM right there.
no... after death when life insurance kick in..
MalikX
Superstar
I want to start a startup. If what I'm doing doesn't kick off in the next 2 years, I'll set my eyes on a business idea that's less grand. But for right now, its been this. Going back to college, my boy and I had ideas for apps but, no coding ability. So the ideas never went anywhere. We were talkers. We met with alot of people, business types, tech folk, moreso in search of the latter to help us program the site. Nobody bit. Don't blame them. Last winter we decided we wasted four years trying to go around the problem instead of just learning for ourselves, and that's been what we've been doing everyday since January. I'm writing programs now 
I was inspired by Vin Vacanti (Yipit) and Marc Cenedella (The Ladders) to learn....mainly the latter. Dude locked himself in a room all summer, taught himself coding and threw together a prototype of his site. Now The Ladders is a huge business. We have our logos, pitch decks/powerpoints, business plan, etc. By the summer, we should be good enough to make our mvp. That "you'll wish you started a year ago" saying is so true. Had we started the previous January, we'd already be on our way.
I was inspired by Vin Vacanti (Yipit) and Marc Cenedella (The Ladders) to learn....mainly the latter. Dude locked himself in a room all summer, taught himself coding and threw together a prototype of his site. Now The Ladders is a huge business. We have our logos, pitch decks/powerpoints, business plan, etc. By the summer, we should be good enough to make our mvp. That "you'll wish you started a year ago" saying is so true. Had we started the previous January, we'd already be on our way.
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no u wont, please dont project your low self esteem here sir
WaveCapsByOscorp™
2021 Grammy Award Winner
i'd rather just generate that amount of money thru business. i don't know if i'd be about just having a million. if i had that, then i'd have to generate multi-million dollar deals which sounds stressful
lotteryplaya
Winning a big lottery jackpot is my dream.
Playing the Powerball or Mega Millions lottery. Their second place prize can be a million or more. I also play scratch off lottery tickets some have million dollar prizes. I play Daily fantasy sites like Fanduel and Draftkings but they are a really long shot. Most of the winners are guys using computers and high level math. Poker is a long shot it would take me qualifying online for free and beating out thousands in a live tournament at a casino. The most reasonable and possible way is using my savings and combining that with money I get from selling a property later this year I share ownership of. That total amount of money can then be invested and hopefully earn me a million over time. I have a friend from college who is an investment banker and one who is stockbroker. One guy may actually be both I cant remember we don't talk about work that much when we hang out. I am still rooting for the sudden wealth like a lottery win.
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so
...fukk do that have to even do with anything in this thread
M.O.N.E.Y.
No lie
Wall to wall ... 
in this thread
in this threadNigerianwonder
Superstar
Naw. Doubt it. and even then depends on what the major is. Even with degrees most college educated people only earn around 35 - 45k a year. The coli is full dudes who are against formal education and too lazy to get advanced degrees. They think they gonna go from making 15 bucks an hour to being a millionaire entrepreneur.. Most business owners are not millionaires either. Most businesses are not even profitable. I get business cards from folks like this all time at networking events. Got CEO on their business card but their business is in a flea market or they selling incense or soap or some shyt out their house. That's the real future for most these anti-intellectual coli business owners that praise dame dash. But they a boss though.. lol
The majority of people will live and die in the same social class they were born into. Thats just the facts. However for those who do move up there are 3 main ways people become millionaires in the US.
1) They inherit wealth. This is the most common way. properties, money etc.. getting passed down to them.
2) Long term financial planning. Married with dual incomes.. These are your "paper" millionaires. Educated with high earning careers and made smart investments. Over the course of 15 to 20 years you can build up to having assets that make you a millionaire on paper. Requires a lot of discipline and planning that most folks dont have.
3) Luck. Lotto. Lightning in a bottle business idea wth perfect timing and execution. etc.. this is extremely rare but 99% of coli is banking on this happening for them.
And this is the delusional shyt I'm talking about:
How do you figure? Even if he lived off of 30k a year, it would take him 3 and a half years to generate 1 million dollars. Where the fucc are you getting "multi millionare" from? His passive income is 750k per year? LOL! What the fucc is he working for then in that case? To be a multi millionare he's have to save all of his money for at least two years.
Of course it is. That's why the average person makes 33k per year, but 30 times that is easy street.
Even if you sold all of your properties and added it with your saved money, it still wouldn't be a million dollars. You'd have to sell everything just to have one million.
You live according to the money you make, which is average.
So all that talking, only to admit you make 36k a year (average)? Hilarious.
How do you figure? Even if he lived off of 30k a year, it would take him 3 and a half years to generate 1 million dollars. Where the fucc are you getting "multi millionare" from? His passive income is 750k per year? LOL! What the fucc is he working for then in that case? To be a multi millionare he's have to save all of his money for at least two years.
Of course it is. That's why the average person makes 33k per year, but 30 times that is easy street.
Even if you sold all of your properties and added it with your saved money, it still wouldn't be a million dollars. You'd have to sell everything just to have one million.
You live according to the money you make, which is average.
So all that talking, only to admit you make 36k a year (average)? Hilarious.
There's really alot of ways to get rich...with the right idea...the right team...the right decision...the right risk...the right sacrifice...the right scratch off. Blessings from GOD or the universe or whatever you believe in...but, at the end of the day what is it for a man to have the world but sell his soul. 
Larry Lambo
Superstar
I'm definitely on track to have a couple mil in my retirement account if I work until 65. Outside of retirement funds I might get up to $500K, if I keep stacking at the clip I am now.