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  • FIRST POST
    • tinktay84
    • By tinktay84 10th May 11, 10:25 PM
    • 298Posts
    • 948Thanks
    tinktay84
    Millionaire Challenge
    • #1
    • 10th May 11, 10:25 PM
    Millionaire Challenge 10th May 11 at 10:25 PM
    I sat pondering on what ive achieved in my 27 years and realised that anything ive ever said I wanted to do or wanted to have I have managed to achieve.

    Last year after 10 years in catering I completely changed career and last week I achieved a distinction in painting and decorating. This got me thinking that since I always achieve goals I set myself what could I do next....

    Thus the Millionaire challenge!

    So phase 1 is opening a savings account and getting money building up...

    I work for myself so have a bit of control over my earnings, we have 1 property that we rent out and my husband has a decent (secure) job.

    My aim is to get to the million mark by the age of 40 (im 27 now)

    So how many of you think im mad and its impossible and how many of you think i'll do it and have ideas to help me
Page 192
    • Teasedale
    • By Teasedale 7th Feb 18, 10:05 PM
    • 26 Posts
    • 7 Thanks
    Teasedale
    i want to be multi millionaire how do i become that?
    what do i need to do?
    Originally posted by ashleycha123459
    1. Visualise your success every hour.
    2. Understand the law of Compound Interest.
    3. Be nice. Rich and nasty is a bad combination.
    • Kayalana99
    • By Kayalana99 8th Feb 18, 4:44 PM
    • 3,383 Posts
    • 6,051 Thanks
    Kayalana99
    Well we have news.

    Had an offer accepted on a house, been a lot of hassle but hopefully all will go through now and we are pushing for a completion date end of March. Shouldn't be too much of an issue but you never know with these things.

    Houses in this area sell like crazy, but this property has been on market since Oct as a leasehold so people won't touch it. We had an appointment booked but cancelled it when we found out, but after doing a bit of research we decided to find more information about the lease on the house to see if we purchased it if we could then buy the freehold but it turns out the company that owned it had already purchased the freehold in past 30 days but I'm 99.9% postive the only reason it's still on market is because they haven't updated the advert and anyone looking at houses in area has seen it was leasehold.

    Anyway, we've got it for 7k cheaper then I reckon it's worth so it's still quite a saving, plus I've worked out assuming house prices stay the same (hoping they will go up but as a base) with a bit of work I reckon we could get it worth the extra 5k which would push it into the 25% equality meaning we would have the potential to turn it into a B2L.

    Then the only issue would be getting the deposit for next house, but this house is well below our means and I reckon we could easily stash around £400-500 a month away, and I've already set aside 5k from savings that will be left in the 'house fund' so in around 2-3 years assuming all goes well (and in theory in this time our incomes should rise too) we would have a 20k depoist for our next home and a B2L on the deck.

    We did see a house for 50k more that we fell in love with, and we were in position to buy it but it got into a bit of a bidding war and I do think we've made the right decision.

    We will get that dream house, but maybe after putting the pieces together first to get on the B2L ladder...and in the mean time it's quite a nice little house that has a garage and is literally 3min walk from the school
    People don't know what they want until you show them.
    • AnimalTribe
    • By AnimalTribe 13th Feb 18, 11:02 AM
    • 94 Posts
    • 1,596 Thanks
    AnimalTribe
    Hi
    I don't post here regularly but I do always read the posts. I promised someone on here (sorry I can't remember who) that I'd give an update on my Amazon eBook sales. So far I've sold 9 copies. Not a lot but I'm OK with that. It's been 2 months since I published, so I'm just going to leave the book there and see what happens. I have found that I enjoy writing, so I've written another book and put that on Amazon too. It hasn't cost me anything but my time, and I consider my time spent as partaking in an enjoyable hobby. So for me, it's a win-win.
    I hope this year is a good one for everyone.
    AT
    Last edited by AnimalTribe; 13-02-2018 at 11:06 AM. Reason: apostrophes came out as a number string
    • minxy-x
    • By minxy-x 13th Feb 18, 7:20 PM
    • 133 Posts
    • 492 Thanks
    minxy-x
    Kay
    Great news on the home, hope the transaction goes smoothly for you!

    Animal
    Well done with the book that's really great!Hope the 2nd is successful also.

    Banging my head against a wall dealing with commercial brokers at the moment, I am currently on my 3rd company (3rd time lucky???), after initial contact promising the world, they get lost, never to be heard of again!

    Hope everyone is well!
    • Luckystepho
    • By Luckystepho 14th Feb 18, 6:45 AM
    • 333 Posts
    • 639 Thanks
    Luckystepho
    I haven't posted in ages but still read every post as I love to hear how everyone's doing! I am moving forwards slightly I think- have a little invested in hZopa (peer to peer), silver and have taken a little punt on cryptocurrencies just to see what happens!

    Working in feeing up some income each month to invest and my brother-in-law extremely generously offered to loan me the money to pay off my high interest car HP loan, meaning I will repay it 20 months sooner and save around £2,700 in interest!

    • lessonlearned
    • By lessonlearned 19th Feb 18, 2:00 PM
    • 9,544 Posts
    • 59,153 Thanks
    lessonlearned
    Hello fellow millionaires in waiting. Im back!!!

    I have had a wonderful holiday - great weather, nice people, lots of nice eats (too many!!!). Lots of nice mini adventures, trekking through the jungle, seeing lots of wildlife, swimming in the warm Caribbean seas.

    Now it is back home to my comfy bed, feather pillows and luxury of luxuries - long soaks in the bath. The ship was comfortable but you cannot beat home comforts.

    I had a mishap......lost a crown off my tooth. It is not worth fixing so its tiime to grasp the nettle and finally get round to some serious dental work.......alas this will incur serious costs too. Hey ho. Needs must.

    So now ......back to the task in hand......making and saving some serious money.

    Kaya......how is the house sale going. Hope all is well.

    Looking forward to hearing everyones news and progress. Hope you are all well and making lots of money.
    Last edited by lessonlearned; 19-02-2018 at 2:03 PM.
    • juliafer
    • By juliafer 20th Feb 18, 5:16 AM
    • 2 Posts
    • 0 Thanks
    juliafer
    Haha, Best of Luck
    • LuxuryWoman
    • By LuxuryWoman 20th Feb 18, 10:29 AM
    • 120 Posts
    • 366 Thanks
    LuxuryWoman
    Hey LessonLearned great to see you back and I'm so happy you had an amazing time, oooof to the tooth though.

    Business continues to grow here, I'm ready to take it to the next level now and part with some cash to get there, she who dares!

    Hope everyone else is doing well
    • lessonlearned
    • By lessonlearned 20th Feb 18, 11:08 AM
    • 9,544 Posts
    • 59,153 Thanks
    lessonlearned
    LW.......”Who Dares Wins”

    Good luck with the next step.
    • lessonlearned
    • By lessonlearned 20th Feb 18, 11:24 AM
    • 9,544 Posts
    • 59,153 Thanks
    lessonlearned
    Had a lazy day yesterday, recovering from the journey home on Sunday. So had time to review some of the thoughts and plans I made whilst on holiday.

    I have lots of ideas. I usually find that is the case. Holidays tend to free my mind and get my creative juices going. So I am all fired up now and raring to go. I did jot my ideas down as I went along so I don!!!8217;t forget them and that list will be my starting point next week.

    I am not sure if I mentioned it but I was offered a job before I left. I told them I would think it over. Well I have given it some serious thought and although it is tempting to take the easy option and work for someone else I have decided to decline their offer. I think it will be best if I concentrate on my own plans and working for someone else would just hold me back, eat into my time and deplete my energy levels.

    I have enough passive income to meet my daily needs (not counting major dentist work) so I have decided to spend the next month or so sorting myself out and then take it from there.

    Going to draw up a schedule but first need to catch up with myself, still not unpacked and done the laundry and food shopping. Washing machine is on its 4th load as I write.......

    My diary is filling up already but next week should see me getting super organised and hopefully get the ball rolling again.

    My year off has been great but I am ready now to knuckle down again.

    Beautiful day here, the birds are singing away and it feels like spring.
    • Kayalana99
    • By Kayalana99 20th Feb 18, 1:24 PM
    • 3,383 Posts
    • 6,051 Thanks
    Kayalana99
    Hey guys!

    Welcome back LL I swear you keep this thread going, so quiet without you! Glad you had a great holiday.

    LW - Hope all goes well for you, it sounds like it is!

    House sale has gone quiet but the mortgage company has accepted us pending valuation so mainly waiting on that, solictors have ignored my last e-mail from 11th so it's a great start...might chase them today actually and just hope searchs have been started.

    I'm a bit dubvouis as I couldn't use our solictors (who are amazing) because they aren't on the panel of the mortgage company we are going with, and this one was pushed by the company selling the property. The thing is they gave us a completion date of 28th March, my Dad reckons they won't pull out if it doesn't get done by this time, but if it's the solictors they recommended to us slowing it down, it's not really our fault is it? haha. We'd love that to be the final date though...and having the mortgage go through so quickly feels like a weight off as it was a nightmare last time around. To be honest, nothing should go wrong, but I'm just trying not to over think about it. It will be what it will be.

    A lot has happened the past 6 months and tbh I've been doing a lot of soul searching and come to some conclusions of what I want out of life, and how/if it is attainable. I think I've made some bad choices and I didn't have the best start growing up and sometimes I feel like I'm still 'catching up' on the basics (I.e even simple things like cooking/cleaning/looking after myself even) but I've pulled a plan together revovling round my children, health, education and overall well being and I'm aiming god dam high. I hate to be ungrateful, but what I have now is not enough for me, and I want them to have the best life possible too.

    I've lost another half a stone, and set myself a target of 2 pound a week, I've been so strict with myself and keeping up my daily strengh excercises and I can really feel the muscles in my stomach and arms now (although not on show just yet lol) I'm really going all the way, not just being 'thin' but being toned and stronger.

    If anyone saw my other post I have had a product idea that I'm so so so suprized isn't on the market. I actually just went to buy one myself and realised nothing like it exisits, it won't cost a lot to produce either...but I'm debating just selling it to a company who are already in that area, I've purchased something similar to test it out (it's so so hard to explain this without telling you the idea, but lets just say the product I'm buying you'd not use it for the purpose so you'd have to create a special line, but it will prove if it works or not for what it's for lol ...ugh ok no sense maybe)....for now though, kids are off, I've got an essay to plan/write.


    I'll update again with more info of my plans, but I need this house sale to come through so we can get a handle just how much money we have left over.
    People don't know what they want until you show them.
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