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re: At what age did you become a millionaire
Posted on 6/8/18 at 1:21 pm to southernelite
Posted on 6/8/18 at 1:21 pm to southernelite
quote:
But the amount of my peers buying brand new trucks and homes, I feel like I’m in the bottom 20% some of the time
They might have more financial stress than you though.
0
Posted on 6/8/18 at 1:35 pm to Teddy Ruxpin
quote:
Seeing a maybe 30 something year old in a Bentley who doesn't play sports hurts
wait. YOU SAW da big fella?
i saw him in his rolls royce at the whataburger drive thru
FACT!
Posted on 6/8/18 at 1:39 pm to southernelite
quote:
Stop comparing yourself to others, especially on this website.
you can say that again. most noobs who post here do not realize this fricking board is MOST probably borderline top 10-15% ers. definitely top 20%.
check out this calculator. you only need 111,000 to be in top 20%.
LINK
quote:
Compare yourself to you. Are you on track to retire comfortably in your means?
bingo. once you're saved income can last a long time or your passive income meets or exceeds your current expenses you are technically retired.
This post was edited on 6/8/18 at 1:44 pm
Posted on 6/8/18 at 1:42 pm to Fat Bastard
I was on track for age 30, then I made a bad mistake in who I married. Now I'm 42 and trying to get to the end of the divorce w/o being more than $100k in the hole or bankruptcy and targeting age 50.
Posted on 6/8/18 at 1:46 pm to Marek76
Wtf
Posted on 6/8/18 at 4:32 pm to iluvredboxx
Trying to get there by 30. We were very fortunate that my wife had a very generous grandfather who left a lot to us. I am still very grateful for what he did for us.
Posted on 6/8/18 at 4:37 pm to Ron Cheramie
here we go.
Posted on 6/8/18 at 4:57 pm to Fat Bastard
quote:
check out this calculator. you only need 111,000 to be in top 20%.
LINK
is very interesting..
nowadays only $110k monthly gets you into the top 20 percent?
and $430k monthly(top 1%) is barely 5 million a year... i would have guessed much much more is needed.
Posted on 6/8/18 at 5:12 pm to mrgreenpants
I’d imagine in Louisiana $110k probably gets you top 10-15%.
Posted on 6/8/18 at 5:17 pm to mrgreenpants
That's annual, not monthly
Posted on 6/8/18 at 6:18 pm to mrgreenpants
One of the dumbest comments I’ve seen on the money board
Posted on 6/8/18 at 6:32 pm to southernelite
actually re examining those numbers i was being very conservative in my estimates. Actually i will bet most here are in the top 10% with some 5% ers. if not every year......... some years. This board is the anomaly and not the norm. 
Posted on 6/8/18 at 6:35 pm to mrgreenpants
Damn I’m poor according to that calculator
Posted on 6/8/18 at 7:59 pm to jimbeam
Top 13% with just my income. Guess I need to find a wife.
Posted on 6/9/18 at 12:05 am to Powerman
I should be there within a year or 2 ... 39, annual income less than $100k....
Posted on 6/9/18 at 8:01 am to Zilla
Those of you who made $1M (without inheriting it), how did you get there? Are you a brain surgeon? Do you live way beneath your means? Do you day trade on the side?
I'm more interested in the "how" than the "when."
I'm more interested in the "how" than the "when."
Posted on 6/9/18 at 9:03 am to mrgreenpants
I know its all relative, but according to that, 200k household income get your to top 6%. I can throw a rock in Houston and hit a couple that makes 200k.
Makes you feel very fortunate. I do very well, but live in Houston and work with lots of people who are rich AF. But i know if 8 year old barry saw himself he'd say daaaaaaaaaaaaaaaaamn we riiiiiiiiiiich. So I try to appreciate things I have.
Makes you feel very fortunate. I do very well, but live in Houston and work with lots of people who are rich AF. But i know if 8 year old barry saw himself he'd say daaaaaaaaaaaaaaaaamn we riiiiiiiiiiich. So I try to appreciate things I have.
This post was edited on 6/9/18 at 9:04 am
Posted on 6/9/18 at 9:19 am to barry
quote:
i know if 8 year old barry saw himself he'd say daaaaaaaaaaaaaaaaamn we riiiiiiiiiiich.
Posted on 6/9/18 at 9:38 am to Fat Bastard
married couple. both teachers pulling in 111K combined would be in the top 20%. So much for middle class.
Posted on 6/9/18 at 10:28 am to FinleyStreet
quote:
Those of you who made $1M (without inheriting it), how did you get there? Are you a brain surgeon? Do you live way beneath your means? Do you day trade on the side?
I'm not there yet, but should be in 2-3 years. I started by graduating without loans, which allowed me to save money aggressively early in my career. After college, I always kept a roommate which wasn't ideal but I did keep my expenses down. Once I saved 20%, I bought a multi-unit house to finally live alone while keeping my expenses down. I was living nearly rent free and building equity.
My career improved over time and my increases went to savings. Eventually got married (this more than doubled my household income) allowing us to buy another house and maintaining the rental property. My wife and I are very aggressive savers but still enjoy our youth (relative) and DINK lifestyle. Neither of us drive a car over $30k (I'm a lifelong toyota driver), and our house is inexpensive compared to our income. We're fortunate enough to be able to live off of either of our income and save the rest. Our primary goals now are to retire her student debt(7-8 years) and saving for our next/long term house. Her student debt expense is $600/mo higher than our mortgage payment. Our lives will be completely different once that is finished.
I can't wait to say the second million was much easier then the first.
This post was edited on 6/15/18 at 8:39 am
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