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At what age did you/do you project you will become a millionaire? - Page 2

post #16 of 159
Quote:
Originally Posted by Icarus View Post
We're talking dollars, not HIV cells.

LO-mothafuckin-L!
post #17 of 159
Quote:
Originally Posted by TheDarkKnight View Post
I should have a pension pot of £1 million at age 58, plus have no mortgage left to pay so another £400,000 of net worth.

Hmmm ok that's net worth of almost $2 million, my basic pension calculator doesn't go below 55 so I'm not sure on $1 million, probably about 53 including the house.

This assumes I receive a modest return of 7% after charges in my pension fund (which I should as for the next 15 years I aim to keep it in a fairly adventurous portfolio)

I aim to retire between 63 and 67, depending on how all this works out - at 67 I'll get a small state pension too you see.

I'm 34 now.

Bare in mind that in 30 years $1 million will be worth about $430k assuming inflation runs at 2.5%, so provide only about $20k in income, in today's terms.

Therefore in 30 years most average income people will need to be a "millionaire" or more in a pension pot.


By the time you're 58, a million quid will buy you a reliant robin and a few pints...just sayin'....
post #18 of 159
i'm 19 now...gotta finish undergrad and law school before we see what i can do. but there's no doubt i'll know for sure by the time i'm 29-30 if i'm going to make millions or just $50k a year. wide open right now, lol. considering the line of work i want to get into, probably never.
post #19 of 159
Quote:
Originally Posted by thekunk07 View Post
kind of like angstrom units

Damn you france, damn you metric system! Would you be so kind as to provide the answer in ounces, or perhaps inches? I know beggars can't be choosers, so I'll even accept miles.
post #20 of 159
Quote:
Originally Posted by Icarus View Post
By the time you're 58, a million quid will buy you a reliant robin and a few pints...just sayin'....

Possibly. It depends how inflation goes from Q/E, and things such as the cost of food and energy once we have the huge population of China expecting a good standard of living.

Sure there'll be a boom and inflation in a few years, but there will also be contraction and recession. Probably 3 business cycles before I retire, so it's not all hyperinflation doom and gloom.

That said inflation will erode mortgage debt, earnings tend to move slightly ahead of inflation and I should really get a much better net return than 7%, I'm just planning for a worser case in that scenario.
post #21 of 159
Have been investing in the lotto for years, should be a millionaire any minute now.
post #22 of 159
I wasn't aware this was the name of the game.
post #23 of 159
Quote:
Originally Posted by rjakapeanut View Post
i'm 19 now...gotta finish undergrad and law school before we see what i can do.

but there's no doubt i'll know for sure by the time i'm 29-30 if i'm going to make millions or just $50k a year. wide open right now, lol.

considering the line of work i want to get into, probably never.

You could have just said never.
post #24 of 159
Quote:
Originally Posted by Icarus View Post
We're talking dollars, not HIV cells.

Lulz. I don't know who you are, but I like you.
post #25 of 159
my best chance is probably my parent's will.
post #26 of 159
Quote:
Originally Posted by Mal View Post
You could have just said never.

haha good point. who knows, though. i won't have any debt upon graduation and even a blind squirrel finds a nut sometime...
post #27 of 159
The days my parents die... seriously.
post #28 of 159
Quote:
Originally Posted by Jarandas View Post
The days my parents die... seriously.

I'll off them if you give me 20%.
post #29 of 159
The moment my book "How to Become a Millionaire the Easy Way" sells 100,00 copies...
post #30 of 159
Quote:
Originally Posted by Arrogant Bastard View Post
I became a millionaire at 1 minute old. Beat that, fuckers.

At -9 months.

Didn't last, though.

- B
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