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

xchen

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Just wondering everyone's thoughts on this topic. I hope to at the very latest by 50, but as long as I reach this goal by retirement I will be satisfied. I have really taken an interest in personal finance and investing lately and I'm working on saving away as much as I can and will be investing heavily in the next year.
 

unjung

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Been a millionaire twice and both times blew it all away...
 

SField

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Become a home owner and the goal is essentially accomplished... unless you mean liquid.
 

xchen

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I mean owning home, clear and free, and having $1 million plus liquid without significant debt, but it's open to interpretation. Different viewpoints could be interesting on this topic.
 

Piobaire

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By the time I was 25 I was working on my second million.





































Because I had given up on my first million.
 

SField

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Originally Posted by xchen
I mean owning home, clear and free, and having $1 million plus liquid without significant debt.

That is actually extremely difficult to do. The easiest ways to do that are probably I banking or hedge funds, which I believe constitute a miserable existence.

If you think having that kind of number will make you happy, then I hope you get to it painlessly and quickly.
 

thekunk07

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apparently at 34 motherfuckers.
 

Icarus

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Originally Posted by thekunk07
apparently at 34 motherfuckers.

whats the conversion method for motherfuckers to years?
 

thekunk07

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kind of like angstrom units
 

Don Carlos

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I became a millionaire at 1 minute old. Beat that, fuckers.
 

JoelF

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Originally Posted by SField
Become a home owner and the goal is essentially accomplished... unless you mean liquid.

Ummm how exactly does that work?
 

TheDarkKnight

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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.
 

Icarus

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Originally Posted by Arrogant Bastard
I became a millionaire at 1 minute old. Beat that, fuckers.

We're talking dollars, not HIV cells.
 

MetroStyles

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Depends on how badly I sell out from here on out. If I dedicated my miserable existence to it, then I could probably do it by 34. Liquid, not counting retirement. Assuming 0% return on my invested assets.
 

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