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

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

  1. MetroStyles

    MetroStyles Senior member

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    We're talking dollars, not HIV cells.

    LO-mothafuckin-L!
     


  2. Icarus

    Icarus 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.



    By the time you're 58, a million quid will buy you a reliant robin and a few pints...just sayin'....
     


  3. rjakapeanut

    rjakapeanut Senior member

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    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.
     


  4. Icarus

    Icarus Senior member

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    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.
     


  5. TheDarkKnight

    TheDarkKnight Senior member

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    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.
     


  6. Valor

    Valor Senior member

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    Have been investing in the lotto for years, should be a millionaire any minute now.
     


  7. tagutcow

    tagutcow Senior member

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    I wasn't aware this was the name of the game.
     


  8. Mal

    Mal Active Member

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    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.
     


  9. Don Carlos

    Don Carlos In Time Out

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    We're talking dollars, not HIV cells.

    Lulz. I don't know who you are, but I like you.
     


  10. yjeezle

    yjeezle Senior member

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    my best chance is probably my parent's will.
     


  11. rjakapeanut

    rjakapeanut Senior member

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    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...
     


  12. Jarandas

    Jarandas Senior member

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    The days my parents die... seriously. [​IMG]
     


  13. MetroStyles

    MetroStyles Senior member

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    The days my parents die... seriously. [​IMG]

    I'll off them if you give me 20%.
     


  14. Infrasonic

    Infrasonic Senior member

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    The moment my book "How to Become a Millionaire the Easy Way" sells 100,00 copies...
     


  15. voxsartoria

    voxsartoria Goon member

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

    At -9 months.

    Didn't last, though.

    - B
     


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