VIDEO ON MSN MONEY
We did take very nice vacations including all over the United States, Mexico, Canada and Europe. However, being young, I thought we were lower middle class. After all, poor people drove our cars. Poor people shop at Goodwill.
Then, my senior year of high school, I had to fill out the FAFSA. My parents helped with most of it. When I was done, I was offered a bunch of loans. I asked my father how much to accept. He told me none. When I asked why, he told me that I have a trust fund that will pay for college and grad school. I told him that trust funds are for rich kids. His reply, "you are." We then had a discussion in finances. I learned my father was a multimillionaire.
When I asked why we lived the way we did when we had so much money, he asked me how I thought he acquired so much wealth. That answered my question.
however, we don't live beyond our means and we save in several different retirement accounts.
we already hit the million dollar amount once, until the crooks on Wall St helped tank the economy. thankfully, we diversify and even tho our savings took a hit during the crash, we are rebounding nicely and will still have a comfortable retirement.
having said that, I don't know anybody who begrudges wealthy people their money as long as it's earned through honest work. its when people achieve wealth by being greedy and exploiting others that it is viewed negatively.
How to attain a million dollars is the same methodology as eating an elephant - one bite at a time.
Start young and small amounts saved at a regular pace will add up. All it takes is persistence and dedication.
First off $1 million isn't what it used to be. In the 1980s you were someone if you made $1 million. Now a days the list grows by several hundred more names each year. Heck a Billion in the 1980s was rare and now that list has over 100 people on it.
It takes great discipline adnd luck to get to that point but keep your nose to the grinstone
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
[BRIEFING.COM] Equity indices closed out the month of August on a modestly higher note. The Russell 2000 (+0.6%) and Nasdaq Composite (+0.5%) finished ahead of the S&P 500 (+0.3%), which extended its August gain to 3.8%. Blue chips lagged with the Dow Jones Industrial Average (+0.1%) spending the bulk of the session in the red.
The final week of August represented one of the quietest stretches for the stock market so far this year. The first four sessions of the week produced the ... More
More Market News
|There’s a problem getting this information right now. Please try again later.|