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

Discussion in 'General Chat' started by xchen, Oct 4, 2010.

  1. xchen

    xchen Senior member

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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.
     


  2. unjung

    unjung Senior member

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    Been a millionaire twice and both times blew it all away... [​IMG]
     


  3. AgentQ

    AgentQ Senior member

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    30, hopefully sooner. [​IMG]
     


  4. SField

    SField Senior member

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


  5. xchen

    xchen Senior member

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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.
     


  6. Piobaire

    Piobaire Not left of center?

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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.
     


  7. SField

    SField Senior member

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    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.
     


  8. thekunk07

    thekunk07 Senior member

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    apparently at 34 motherfuckers.
     


  9. Icarus

    Icarus Senior member

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    apparently at 34 motherfuckers.

    whats the conversion method for motherfuckers to years?
     


  10. thekunk07

    thekunk07 Senior member

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    kind of like angstrom units
     


  11. Don Carlos

    Don Carlos In Time Out

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


  12. JoelF

    JoelF Senior member

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

    Ummm how exactly does that work?
     


  13. TheDarkKnight

    TheDarkKnight Senior member

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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.
     


  14. Icarus

    Icarus Senior member

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

    We're talking dollars, not HIV cells.
     


  15. MetroStyles

    MetroStyles Senior member

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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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