MetroStyles
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We're talking dollars, not HIV cells.Originally Posted by Icarus
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At what age did you/do you project you will become a millionaire?
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Icarus
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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.Originally Posted by TheDarkKnight
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'....
rjakapeanut
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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.
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.
Icarus
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kind of like angstrom unitsOriginally Posted by thekunk07
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.
TheDarkKnight
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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'....Originally Posted by Icarus
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.
Mal
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i'm 19 now...gotta finish undergrad and law school before we see what i can do.Originally Posted by rjakapeanut
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.
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We're talking dollars, not HIV cells.Originally Posted by Icarus
Lulz. I don't know who you are, but I like you.
rjakapeanut
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You could have just said never.Originally Posted by Mal
haha good point. who knows, though. i won't have any debt upon graduation and even a blind squirrel finds a nut sometime...
MetroStyles
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The days my parents die... seriously.Originally Posted by Jarandas
I'll off them if you give me 20%.
Infrasonic
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The moment my book "How to Become a Millionaire the Easy Way" sells 100,00 copies...
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I became a millionaire at 1 minute old. Beat that, F***ers.Originally Posted by Arrogant Bastard
At -9 months.
Didn't last, though.
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