Millionaire Challenge

minxy-x

Well done on the pay rise Chesapeake

Things like the car accident always happen at a similar time to things like a pay rise to me, I'm convinced its life always reminding me- just watch it things can change back...

lessonlearned

Great news Caz. It's all happening. Innit. :rotfl:

Chesapeake. Good stuff about the pay rise, but Ouch on the car accident. At least You weren't hurt, that's the main thing. And how exciting for the wedding plans...when is the happy day.

Well I've not got a lot of news. My new lady came to help me this week. She is definitely a keeper....I should have got help ages ago. She is so quick and does such a fabulous job. Everyone has their skill set and although I am "good enough" at cleaning I can see that she is a real "professional". Worth every penny.

I will save time and energy that I can put to better use. And I get to do the nice jobs.....:rotfl:

Kay....hope the house sale is going through ok.

Glorious weather here....long may it last.

Even my social life is picking up at last. Quite the social whirl these days. Wahoo.

margaretclare

Well done.

The first step is always to open a basic savings account and progress from there.

My first step of that kind was waaaay back in time, the Battle of Britain was still raging, and I started at the village school where there was a savings bank run by the school for one of the banks. The rest, as they say, is history.

lessonlearned

Hi everyone......what glorious weather......sunshine on a bank holiday weekend too. Who would have thunk it.:rotfl:

Just a quickie........something that I thought would give you all a smile and maybe a bit of encouragement.

Went to lunch with a friend yesterday. She was telling me about her friends son who is 17 and currently doing art A levels with a view to studying art and design at university.

Apparently he wandered into a junk shop, spotted a filthy painting with a damaged frame and snapped it up for £5. He then sold it, in its current state, to a dealer for £42k. :T

The deals are out there folks........we just have to keep looking.

This time next year, Rodders.......:rotfl:

Anyway I'm off out to enjoy the sun.

Chesapeake

The happy day is almost exactly 12 months away, 25th August 2018. We're pretty well along with planning etc but everything has a cost and now all spending is on hold until end of October.

We have started repainting our flat this weekend, a nearly-white-with-a-subtle-hint-of-yellow kind of colour, it has really brightened the place up. It is also a good excuse to clean behind sofas etc and get rid of a load of junk.

mikep22

Hi All,

Sorry to butt in - I need to get to work quickly so dont have time to read everything previously.

Is the challenge to have earnt £1m - or to have £1m in the bank so to speak?

I am thinking about giving it a go, but it will be much earn it then otherwise I fear.

droopsnoot

I would say it's whatever you want it to be. I read it as more about ways to take opportunities and make the most of things than specifically about trying to reach a specific target.


In any case, what's a million these days?

Chesapeake

Personally I'm counting it as personal wealth, if I can value what I own as over £1m I'd be bloody ecstatic!

minxy-x

Wow LL did he have an idea what he had found when he bought it? I am assuming yes, if studying art? That's amazing, well done to him- hope he spends it wisely.
Glad your new helper is working out well for you.

Mike I would agree with droopsnoot its your journey, chose which ever you want. Cant wait to see your progress.

Personally I count up our net worth, don't bother with cars (they are not worth much anyway, or pension pot as the few pence would throw out my nice round figures).
I add equity in our home and BTL, money in bank, any business net worth.
Then I go :j, then I think well house prices could crash, business interests value can change :cool:, take it with a pinch of salt and keep working :rotfl:

Oh a similar theme, I had to have words with Mr Minxy the other day. We were talking about where we were, where we are and where we want to go.
Him- I will be happy when we have 2 million in the bank
Me- 2 Million? I didn't think we planned to keep lots in the bank, I thought we were going to invest?
Him- Yes, that's on top of the investments/businesses.
Me- :eek: I'm only on the millionaire challenge on MSE not the multi millionaire
:rotfl:

So looks like he has set us a new personal challenge...

lessonlearned

Go for it Minxy....:rotfl: reach for the moon and you just might catch a star and all that.

Oh yes that young man knew exactly what he'd got with that painting.

Personally I am not sure I think there is such a thing as "pure luck" or indeed the concept of "accidents". I genuinely think everything has a reason or a rational explanation even if we are not aware of them at the time and that, more often than not, "luck" is the result of work.

Yes, that boy was fortunate to be in the right place at the right time but without his knowledge then he would have walked right past that artwork. He has been trawling junk shops for a few years and had already collected one or two bits to sell on so it's not really such a fluke when you think about it. He put in the hours of study and the necessary leg work and was rewarded. Good for him.

Did I tell you about my lucky find.......picked up a little brooch for £0.50p. Half the stones were missing and it's very dirty but I knew it was an original Victorian "mourning" brooch. THe stones that are left are diamonds, admittedly very tiny ones so not worth a fortune but diamonds none the less. Not sure what I am going to do with it yet. Even in its current state it is very pretty and quite unusual. I might try and see if I can get it restored to its original glory and keep it. I have quite a pile of old jewellery, some broken, some just plain ugly. Some I shall sell, some I can have restored and some can be remodelled. Just need to get my head round it.

Those lucky funds are out there ......we just need to keep our eyes peeled. :rotfl: still waiting for the "Old Master in the Attic". All we ever get is other people's tatty junk and rubbish that they are too lazy to dispose of or to mean to pay to have removed. The cellar and the attic in this house were full of their cr&p they left behind. Took several trips to the tip to dispose of it. Lazy tight fisted so and so's.

I know you can get a solicitor to force sellers to clear the premises but as she was a widow roughly my age with an elderly mother I didn't push it. She did take advantage though. Perhaps karma will reward me when I come to sell and I'll get a Nice easy sale and make a handsome profit.

My son must be reading this thread because tonight he asked did I count cars as assets. Personally I don't. Unless you have a real collectors item, then even the premium cars are still a depreciating asset. Yes you can sell them if you need cash but generally you never get what they are really "worth".

Mike. Welcome, look forward to sharing your journey. Usually to arrive at a figure for your net worth you add up the value of your assets and then subtract your liabilities. The figure you are left with is your net wealth. This can include fixed assets such as your primary residence, it doesn't have to be cash in the bank but of course as Droopsnout says, its entirely up to you what you want to include in your figures.

Signed contracts today on the house, aiming for legal completion 7th September.

Renovations are going well. Just a few final flourishes now. Nearly finished spending so I can now get down to the serious business of filling those coffers again, ready for the next stage of the journey.