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POLL: Are you a real millionaire?

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vi edit

Elite Member
Super Moderator
Oct 28, 1999
62,484
8,345
126
Well, just socking away 20% of our income into diversified portfolios over that time easily puts us halfway there, and that's not including any appreciation of principal. And just going off of *current* incomes. No appreciation there either (although we'll call it a draw with inflation). I let our 401k's take care of the diversified aspect of it (blend of international and domestic index funds and some fixed income for low risk investing).

In our Roth's I am slowly accumulating high dividend Dow stocks and rebalance them each year. Let them re-invest and grow tax free.

With non-retirement income I plan to invest into 3-5 rental properties over the next 15 years and use them for modest cash flow, with the ultimate goal of long term assets. At some point I may sell those off some of them for the investment capital to buy into a franchise group while holding onto some of them for cash flow to help offset the franchise costs the first few years.

By the time I'm 45 I should have a fairly well blended portfolio of equities, real estate, and franchise income.

Again, this is what would happen in an ideal world baring any medical issues or catastrophic economic events.
 

Engineer

Elite Member
Oct 9, 1999
39,230
701
126
Originally posted by: vi_edit
Well, just socking away 20% of our income into diversified portfolios over that time easily puts us halfway there, and that's not including any appreciation of principal. And just going off of *current* incomes. No appreciation there either (although we'll call it a draw with inflation). I let our 401k's take care of the diversified aspect of it (blend of international and domestic index funds and some fixed income for low risk investing).

In our Roth's I am slowly accumulating high dividend Dow stocks and rebalance them each year. Let them re-invest and grow tax deferred.

With non-retirement income I plan to invest into 3-5 rental properties over the next 15 years and use them for modest cash flow, with the ultimate goal of long term assets. At some point I may sell those off some of them for the investment capital to buy into a franchise group while holding onto some of them for cash flow to help offset the franchise costs the first few years.

By the time I'm 45 I should have a fairly well blended portfolio of equities, real estate, and franchise income.

Again, this is what would happen in an ideal world baring any medical issues or catastrophic economic events.

:thumbsup:
 

Engineer

Elite Member
Oct 9, 1999
39,230
701
126
Originally posted by: kalster
Does inherited wealth count

I would assume so as long as you have already "inherited" it. Hell, I would assume if you stole it and got away with it, that would count too.
 

brunswickite

Diamond Member
Jul 23, 2002
6,386
1
0
not there yet, but its a goal of mine, before i am 30. I am 23 right now. (millionaire in total assests)

 

BurnItDwn

Lifer
Oct 10, 1999
26,353
1,862
126
Hmm .... car + house + checking + savings + stock + 401k - mortgage < $200K.
I'm nowhere close to $1M.

I will hit $1M long before I retire. (Don't plan on retiring untill I've got at least $2M assets ... because due to inflation, it will probably take $2M to have a decent retirement. That means I may wind up working until late in my 70s.)
 

ultimatebob

Lifer
Jul 1, 2001
25,134
2,450
126
Most of us should by the time we're 50. We'll need at least that much to retire on by then.
 
Jun 4, 2005
19,723
1
0
Originally posted by: NanoStuff
Originally posted by: Engineer
Originally posted by: FelixDeKat
Originally posted by: KLin
I'm a 10 dollaraire.

Just think, if you paypal me $10 you can discover the joy of giving.
rose.gif

And if you could get all 100,000+ members of AT, you could do the same - as a millionaire!!! :shocked:

Hey, there's an idea. I nominate myself to be the recipient. Everyone paypal me $10 and I'll update the poll shortly! :D

My GOD that's brilliant. If everyone sends one person 10 dollars, and we do that again for a second person, that person will also be a millionaire, now if we do it for everyone here we can all be rich!


Nuh-uh. 'Cause if we all pay out $10 to each of the 100,000 people, we'd end up giving away 1 million each. That's why the pyramid scams work; not everyone pays up.