VIDEO ON MSN MONEY
Being a millionaire is not being rich. After many years of saving and investing, I have accumulated about 2mil net worth....and I still live very much like I always have. It is true that it takes much less time for the second mil than the first. But, there is always that feeling that if I dont pay attention and keep doing the things that produced success, that it could all disappear. Happymom is correct...most people would think that I live very conservatively....I drive a pickup with 160 thou miles on it and see no reason for something fancier. I cook most of my own meals and the way I dress is not special. I have a comfortable house...but nothing plush. I still shop specials at the grocery store. Who would I be impressing if I spend foolishly? Why would that matter to me?
I do have a resentment for high taxes...because I see the unbelievable waste that government is involved in and I have noticed the unbelievable growth of government and the outrageously high government salaries of the people wasting all that money.
My other sister and her husband revoked their own kids college fund left by his father and turned it into his inheritance. They partied it away in 3 years.
I worked 6 days a week 10-15 hours a day and invested well. The only problem I have is my sisters telling me constantly that they need financial help. I just tell them "I am not a bank". I have been told that they are family and I should help. I never saw any of the lawsuit money or the college fund while they partied it away. Why should they get my money now?
As soon as everyone here realizes the way to a great retirement is to NOT GIVE AWAY WHAT YOU HAVE WORKED FOR, you start to acquire a lot more than you have ever dreamed.
it takes financial discipline to create wealth.................
There are several ways to increase personal wealth - earn more money or save more money or ideally - both.
Not everyone can get a high figure job for a myriad of reasons. But, everyone can control their spending and live within their means. It's a choice. And a hard one for many. Many will overspend with cable, iphones, Starbucks, $150 jeans, new cars, maxed out on credit cards, etc. and then complain they have zero savings and are clueless...as to why!!
Whereas my "neighbor" drives a $10k used car, no cable, Levi jeans, makes his own coffee, pays his credit cards off monthly....but has a net worth of 7 figures. He doesn't complain about not having money. He made a choice about his expenses and lives below his means
Successful people are almost always good at managing their time and money in their younger years. For example they don’t spend their time or hard earned money at the bars or do drugs. This is what happens when you’re ready to throw it all away.
And finding the right partner in life is huge when it comes to finances. Divorce will end the million dollar run for thousands of couples ever year. Too many people are ready to give up on marriage at the slightest hint of difficult times. If you truly weight all the options, sticking with your partner and making it work is generally the best practice. Don't jump into something too early, make sure it's right. And don't assume you will find something better, I have seen the refurbished dating market first hand, and it’s truly pathetic.
Health and a proper diet; what good will all that money do you if you're always sick once you get it? Every single person in the US should watch this video, it's that good: "healing cancer from the inside out"... it covers every aspect of health, not just cancer. Lots of good documentaries out there now on health, you don't want to be left in the dark... it could be the best investment you make!
Well I still use coupons at McDonalds, shop in bulk at BJs, and buy classic clothes that last such as Brooks Brothers Shirts.
A million dollars is not what it used to be, and not what it will be in 20 years
Most of my friends are at least millionaires, and miot of them are not what you would call rich
Rich takes about $5-10 Million now,,,and that is just a comfortable rich. Not filthy rich
The ONLY myth that applies "That having $1 million in assets means you're a millionaire and that you're financially set for life.".
Nope. The term "millionaire" was coined back when having a million dollars really meant something. It meant that you were indeed rich and COULD live lavishly. It'd be like having $10-$30 million+ today.
I respect those that are big savers and although I grew up in a household that scrimped and saved every dollar at the cost of... well, of doing fun things, I appreciate them doing what's necessary. HOWEVER, becoming a "millionaire" only means that you probably have enough for a stereotypical retirement. No flash, no glamor, just enough to enjoy life for a couple of decades.
This is NOT what the term "millionaire" means to most people. Do me a favor. Recalculate the numbers with those that really are "millionaires", those that could spend $200k+ per year comfortably and barely touch their original balance, those with $20+ million today and let me know the results. My guess? These people either have inherited the money or have found a way to really succeed with a strong entrepreneurially spirit, strong intelligence and great connections.
Slow & Steady isn't going to give you your dream life. There are lots of people will $1 million+ in assets that are FORCED to live a frugal life.
A million bucks doesn't do much anymore? hmm, let's see about that:
1,000,000 Starting retirement
- 90,000 Cash purchase of 2BR condo in Florida
910,000 Remainder for the rest of your living years past 65.
Unless you have a serious gambling problem a million will do just fine
Liberal whiner losers heads are exploding across the country as they realize the truth as to why the are poor- IT'S THERE OWN CHOOSING!
Liberals all want a lot of money too, but they are just to lazy and trifling to work for it.
Yes, liberals whine and want handouts, while the conservatives work and make money.
Make the choice loser or winner?
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