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

Originally Posted by Piobaire

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I want a bit luckier, as in heir to a fortune.

Btw, running water and electricity? I wish you could see some of the reservations I've done public health work on.

I was speaking about you specifically, but yeah. Some of those are pretty terrible conditions.

Originally Posted by CBrown85

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I was speaking about you specifically, but yeah. Some of those are pretty terrible conditions.
It seemed like you were attributing those to the "age" we live in. Actually, we had the electricity cut off a few times when I was a kid. Never the gas, I guess there's rules about not letting people freeze.

Originally Posted by Piobaire

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It seemed like you were attributing those to the "age" we live in. Actually, we had the electricity cut off a few times when I was a kid. Never the gas, I guess there's rules about not letting people freeze.

Sigh. ok. nevermind then, piob. you had a pretty unlucky birth.

Originally Posted by CBrown85

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Sigh. ok. nevermind then, piob. you had a pretty unlucky birth.

It could have been better. The old man dying when I was nine was the worse part. However, I look on the bright side. I was able to move out of Canada

Originally Posted by Piobaire

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It could have been better. The old man dying when I was nine was the worse part. However, I look on the bright side. I was able to move out of Canada

I'm sorry to hear about that.

Originally Posted by Arrogant Bastard

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It is human nature to be unsatisfied with one's relative circumstances. You could be born into a $5 billion fortune, and you'd still be stark-raving jealous of the kid who was born into $6 billion. It doesn't seem like it from where we stand, but trust me. That's how it works.

To give you an example: I was born into an $XX million fortune. My cousins were born into an $XXX million fortune. Do you think I spend my days counting my blessings relative to 99% of the country, or do you think I spend my days freaking out about not having been born into the higher 1%? It's definitely the latter. Call me spoiled if you must, but that's human psychology 101.

Only problem? I haven't figured out how to change my attitude.

Acknowledging that it's a flaw in my psychology unfortunately doesn't correct the flaw. I wish it did. But we all know it doesn't.

Age, experience, a good woman + working on the attitude, not just acknowledging it.

It's like saying "I have a drinking problem" and then thinking just by acknowledging it, it will be some sudden catharsis. You then have to do the work.

In my experience, improving your attitude is always worth it, and you're a lot better off for doing so.

Originally Posted by v0rtex

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I plan on maintaining an emergency fund which would cover 3-6 months of vacancy. I already have such a fund that covers that duration of my personal expenses so I'm confident I can be responsible enough to maintain a vacancy fund.



I'm also regularly contributing to a balanced 401k portfolio which should provide diversification. Agree with the small business part (regarding above, any well run small business will carry a cash buffer), I don't expect it to be a passive investment but should be manageable part-time.



It's not a question of whether someone would, but if they are able to... not many places will lend you 80% of your capital to invest in the stock market (at least not at a rate that would make it easy to return a profit), but an 80% loan to invest in real estate is easily available at a good rate as it is secured against an asset the bank can sell if you default.

Good points. It's making me think and consider if my plan is realistic, or preferable to just sticking it in a 401k.

Equally good points V0rtex, and I do not want to get caught up in short termism - ie thinking property will always equal doom and gloom, because as you know, long term it rises with earnings - ahead of inflation - there are positives about investing in property.

Just there are also pitfalls to consider

Originally Posted by Arrogant Bastard

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It is human nature to be unsatisfied with one's relative circumstances. You could be born into a $5 billion fortune, and you'd still be stark-raving jealous of the kid who was born into $6 billion. It doesn't seem like it from where we stand, but trust me. That's how it works. To give you an example: I was born into an $XX million fortune. My cousins were born into an $XXX million fortune. Do you think I spend my days counting my blessings relative to 99% of the country, or do you think I spend my days freaking out about not having been born into the higher 1%? It's definitely the latter. Call me spoiled if you must, but that's human psychology 101. Only problem? I haven't figured out how to change my attitude.

Acknowledging that it's a flaw in my psychology unfortunately doesn't correct the flaw. I wish it did. But we all know it doesn't.
Strange, because I have been surrounded by kids in circumstances that vary from xx million to xxx million to billions my whole life and almost none of them with a modicum of parenting suffered from that or really cared. Although I agree with you, the grass is always greener.

The solution is to spend that fortune in one generation a la Huntington Hartford of the A&P fortune.

Originally Posted by TheDarkKnight

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Age, experience, a good woman + working on the attitude, not just acknowledging it.

It's like saying "I have a drinking problem" and then thinking just by acknowledging it, it will be some sudden catharsis. You then have to do the work.

In my experience, improving your attitude is always worth it, and you're a lot better off for doing so.

In theory, that's all well and good. In practice, I have no way of improving my attitude toward wealth. My solution is to acquire more of it. Like I said, I realize that's a hollow and ultimately unfulfilling solution. But it's the only solution I feel isn't an attempt to delude myself into false acceptance.

I'm not sure if that makes sense, but I'm sure you understand what I'm getting at.

Originally Posted by SField

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Strange, because I have been surrounded by kids in circumstances that vary from xx million to xxx million to billions my whole life and almost none of them with a modicum of parenting suffered from that or really cared.

Although I agree with you, the grass is always greener.

Has absolutely nothing to do with parenting; it comes from peers and the milieu in which one grew up. I grew up in a highly materialistic culture in LA. Had I grown up rich in rural Iowa, maybe my attitude would be different. I don't know. I'm just calling it like I see it. Peers and circumstances and culture are FAR bigger influences than parents ever will be or can be.

Trite answers such as "good parenting does X" are silly, and based on widely discredited and outmoded schools of developmental psychology. It's all about peer influence. I'm not saying that to be combative with you; I'm saying that because, in general, I get sick of the parenting argument whenever it's raised. My parents were practically saints. I was raised with impeccable manners, strict standards, and little to no indulgence. My dad shopped at Costco or Sam's Club, drove a beat-up old minivan, etc. I worked a part-time job to save up and buy a used Accord as my first car, when various peers were getting brand-new Beemers or Lexuses (Lexi?).

This thread is sad and pathetic and filled with so much bullshit posturing and rank stupidity. It is a zit on the face of the internet.

Originally Posted by iammatt

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This thread is sad and pathetic and filled with so much bullshit posturing and rank stupidity. It is a zit on the face of the internet.

This has been your reaction to basically every thread on SF in the past few weeks. Just saying. You're adopting a very crotchety-old-mannish attitude these days.

I liked the dictures thread. It was funny. This is a silly thread where people pull out their e-peens, but unlike the dicture of Brett Favre, we don't all get to see how small they really are.

Originally Posted by iammatt

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I liked the dictures thread. It was funny. This is a silly thread where people pull out their e-peens, but unlike the dicture of Brett Favre, we don't all get to see how small they really are.

Welcome to the internet? Not sure what to tell you. As the Beatles put it best, there's really "nothing to get hung about" here.





And yes, I intended the pun.

Most likely never. I am going to be a history teacher, so I will be teaching students (who might be millionaires) about people who are millionaires