Millionaire Challenge

lessonlearned

Good morning fellow millionaires in waiting.

Great to see some new faces. Little green, stick around you will learn loads, not just from this thread but all the other threads too. There are some very knowledgeable people on these boards who willingly and generously share their knowledge and experiences. Read and learn. .

Chin up, you are young with time on your side. The world is just waiting for you.

Troglodyte - what a lovely post. So generous, positive and upbeat. And you are so right about spending time with loved ones.....time spent with those we care about and who are important to us is beyond rubies.

Droopsnout.....you are so right to advise that comparison is not a good idea. I'd go further and say it's not only futile but it's also very destructive.

Never let the green eyed monster eat your soul. .

Well I had a lovely holiday and came home to a beautiful swanky new bathroom. I'm now in full Christmas mode. Lots of plans, schemes and ideas for the New Year but for now it's time for some fun.

Hope you all have a wonderful time.

Wishing you all A Very Merry Christmas and A Very Happy NEw Year,

lessonlearned

Oops missed Winnalot, Random Man and danplum. Hello and welcome to the thread.

Good luck with your plans and ideas.

Let's Rock 2019. :beer:

Kayalana99

I'm going to go against the grain here...luck does play a part in someways but I also believe that if you are focused and devoted you can't lose either.

I refuse to believe, if you worked a job 40 hours a week, came home, and worked a business that you couldn't 'make it'. What business? Isn't that part of the luck? Well yes and no ...because I do believe you can make a business out of anything - even cleaning cars at a weekend such a simple thing but you can hire people and create another one etc etc...the money is there if only you are willing to take it.

The real trick is to roll with the failures, keep trying no matter what, take everything on the chin and if it doesn't work move on to the next.

If your business only makes 100-200 a month - well that's 2 grand you've made in a year that can go towards your next one.

I truely believe 100% if you are the type of person who just keeps going, keeps working, and just keeps pushing forward - you will make it.

I have mentioned it on here before, but one thing that has really stuck with me is Dan Lok's 'high paid skill' if you have the income coming in - you can then keep creating businesses till one sticks.

12 failed businesses he had before his 13th business made him millions. Luck? Nah ...persistance...never stopping...never accepting things are what they are.

lessonlearned

Kayalana99 wrote: »

I'm going to go against the grain here...luck does play a part in someways but I also believe that if you are focused and devoted you can't lose either.

I refuse to believe, if you worked a job 40 hours a week, came home, and worked a business that you couldn't 'make it'. What business? Isn't that part of the luck? Well yes and no ...because I do believe you can make a business out of anything - even cleaning cars at a weekend such a simple thing but you can hire people and create another one etc etc...the money is there if only you are willing to take it.

The real trick is to roll with the failures, keep trying no matter what, take everything on the chin and if it doesn't work move on to the next.

If your business only makes 100-200 a month - well that's 2 grand you've made in a year that can go towards your next one.

I truely believe 100% if you are the type of person who just keeps going, keeps working, and just keeps pushing forward - you will make it.

I have mentioned it on here before, but one thing that has really stuck with me is Dan Lok's 'high paid skill' if you have the income coming in - you can then keep creating businesses till one sticks.

12 failed businesses he had before his 13th business made him millions. Luck? Nah ...persistance...never stopping...never accepting things are what they are.

I so agree Kay.

I didn't argue the point though because I didn't want to offend or upset anyone. But since you have been brave enough to say it, I will back you up.

I think that A lucky break is just the icing on the cake, nice if it happens but it is not the bedrock upon which success is built.

What really counts is attitude And persistence.

There is really no substitute for effort.

I'm always minded of the old adage "the only place where success comes before work is in the dictionary".

Brutal perhaps but I believe it to be the truth.

Anyway Kay.....have a great Christmas. "See" you in the New Year.

little_green

lessonlearned wrote: »

Good morning fellow millionaires in waiting.

Great to see some new faces. Little green, stick around you will learn loads, not just from this thread but all the other threads too. There are some very knowledgeable people on these boards who willingly and generously share their knowledge and experiences. Read and learn. .

Chin up, you are young with time on your side. The world is just waiting for you.

thanks i intend to =, if there's on thing i'm good at its wasting time on online chat rooms ... can i make money out of that!?
Looking forward to learning more

Luckystepho

They always say that behind every 'overnight success' there are years of trying different things and failing! One piece of advice I had was to test a business idea as quickly and as cheaply as possible, then if it bombs you've not invested much but if it shows promise then you can invest more to grow it.


I am working on my plans for 2019 too and working out how 2018 went... anyone want to share progress and plans? I will when they're done!


Feeling excited going into 2019- it's going to be a great year for us!

troglodyte

Thanks LL for your kind comments.
And to little_green and droopsnoot you are so right regarding comparisons. There was a study about wealth I remember; the results basically showed that no matter how much a person earned, they were only happy if that amount was more than others, and unhappy if others earned more than they did, it didn't matter what the actual amount was. So however rich you are, you will never be happy as long as there is a Warren Buffet in the world (unless you are him), but if you are not too well off you can be happy if only you can stop looking at everyone else.
The important thing I think is to be able to pay the bills without lying awake at night wondering how you will manage. Anything extra is a bonus.


I have been lucky I guess in that saving has been a way of life. My parents encouraged me to save for things and we were always careful with money. I think of this especially at Christmas as we always re-use our wrapping paper, for example. Some of it has done the rounds within our family for years! My partner's sister thinks we are a bit bonkers, when she sees me carefully saving it all and smoothing it out, but who cares? We are the ones with the nice house and no debts, and not her!


Another thing I would say is don't be afraid/too proud to accept help. If people give you things (like passing on children's clothes or toys), offer to do othings for you (like help you move house) or offer other things like the use of a holiday home, accept graciously and enjoy it. I have had so many lovely people do these sort of things for me, and now I have helped and hope to be able to help others in the same way.


Happy Christamas everyone!

crv1963

Hi All

I'd agree that hard work does pay off, try new things and try to make a bit extra. I always try to work a couple of extra shifts a month, it pays okay and I know what I am doing. I have plans for a side hustle starting in the New Year, even if I only get a couple of hundred pounds it will be a couple of hundred pounds that I didn't have.

My attitude is not to compare what I have with anyone else. As long as we are happy with what we have then that is all that counts.

I love charity shops and buy all my work shirts in them, at around £30-40 for a new one there are real savings to be had. I also buy collectables like nice china and glassware for gifts for others who like that sort of thing, books, cds and dvds.

I don't buy coffee shop coffee anymore, I worked out that I spent 2k pa for 8 years= 16k, now if I'd have invested that money......

Have a great Christmas and if you forget where you've put a few presents then don't worry - they then become Birthday presents when you do come across them, card buying for next year takes place on Boxing Day!

little_green

Yeh it's just so hard not to compare yourself to others. Recent example - 20 year old girl I know of & her boyfriend of the same age both just bought new cars. Both 68 plates, one Mercedes & one bmw ... and i'm just like how the hell do they do it!? I often wonder to myself what i'm doing wrong (other than comparing myself lol) but I live fairly frugally and yet still I cant afford such luxuries. Many others don't live as frugally & seem to be able to splash the cash at such a young age. Sigh.... I'm just going to keep tightening the purse strings & really looking for ways to improve myself/spending habits.

lol @ the wrapping paper & your sister in law thinking your weird.... i'm pretty sure people think i'm weird too!! in my family when we give cards to one another we dont write on the envelope, that way we can reuse it

Kayalana99

Re overtime I can't remember where I read it now but he did make an excellent point that some people will go to great lengths to make £45 a year from £1,000, risking the capital, where sake of taking a few extra shifts at work you'd bring that in a few hours - I know strength in numbers and investing is worth it, but it does put in perpestive how much that one overtime shift etc is worth to you.

Plus as I always say to Husband if you are earning £3k a month between you both, and bills are £2.5k, and you only have £500 a month left - an extra £50 is actually 10% extra spare income that month - but it doesn't feel like that much when you hear it.