Millionaire Challenge

Kayalana99

I haven't got much time but just wanted to add that I don't see the need to bring people down, I asked a simple unrelated question on another thread (This was about a year ago) and someone commented on how my millionaire challenge was going like it was some kind of joke (as it was in my signature)

I know it's possible because I've seen it happen. When I was born we lived in a two bed house in a rubbish area and we all slept in the same room so my Dad could have an office to pursue his business, roll on a few more years we were living in a 5 bed house in some posh area and we later found out our neighbours thought we had been repossessed because instead of selling the house he rented it out and the move happened so quickly....roll on 30 years later he's (on paper) a multimillionaire.

I think it might be harder for some people to 'believe' because all they have ever seen is their parents work a 40hour a week job and have more month then money.

racing_blue

Guess maybe I deserved that, wasn't trying to put anybody down though.

It just made me smile when somebody said "being a millionaire is easy these days", but then in the very next sentence proved that it is not quite so easy as all that. If you google the office for national statistics wealth report 2010-2012 you will see that the median household wealth in the UK is £218,400 and only 9% if households have net wealth of £1,000,000 or more.

Yes, the opportunity is open to everyone, and I wish you and everyone else on this thread success Kaylana99

Kayalana99

No I did see what you meant by it, ...9% though? Honestly I thought that figure would of been a lot lower.

Ofc, not everyone can do it but not everyone tries...most people are happy with the standard jobs and that's fine...infact that's great...cause for us to be part of that 9% we need the other 91% to keep doing what they are doing.

1/10 chance of being a millionaire? Starts to sound a bit more promising to me :-)

lessonlearned

Hi folks

1/10 sounds like good odds to me........

Speaking of betting. A few weeks ago I decided to invest in premium bonds. December was the first month I was eligible to enter the draw. Just won £25 - ok so not a fortune, but better than nowt.

Karmacat

1/10 sounds brilliant to me just catching up here.

I'm amazed that the median wealth is £218k - although my income is so pathetic, I'm further along the path than that, in fact on my diary (mfw board) I'm plotting constantly about apartments and living abroad and online income - its a real boon to me.

Hope all are well on here - Kaya, you obviously come from entrepreneurial stock, and I also know how hard you work yourself, *and* you think and re-assess what you're doing. Those are all really good pointers on the way to your million pounds

Karmacat

Also wanted to say that Gally has asked for a sub-board about Financial Independence, and its been agreed! It will be on the pensions board, and probably called something like Early Retirement Extreme, I can't quite remember - its on gally's diary on the mfw board, anyway. I do think that the number of a million is just a convenient way of thinking about that very thing, very MrMoneyMustache (I read him too nowadays, and monevator, and simply living in Suffolk ).

LL - I had to read back over the last page or so, you sound like Property No 2 in particular has really come on a lot.

droopsnoot

I'd imagine (though I haven't checked) that these wealth figures will also include the value of the home, hence the larger number of people into seven figures.

lessonlearned

Right.

I know it's Almost Christmas and we are all probably running around like headless chickens but now is a good time to be thinking about next year and what we are going to do to make that £1m just a few steps closer.

Today I'm washing down the last Vestiges of plaster dust, cleaning windows and touching up bits of paintwork. If I have time then I will make a start on present wrapping.

All of this is physical work which will allow my brain time to roam and
Hopefully come up with some bright ideas.

Come the new year I want to hit the ground running. So now it's Time to plan, scheme and plot.......

ms_night_ryder

Ll I have been busy planning next year for the last 2 months.

I also plan on hitting the ground running, I haven't been very active this year, but next year I'm relaunching and plan to have some savings, this year I have gained assets and cleared some debt, which was the plan.

gallygirl

LL what has happened to property no.1 - have I missed that?