Millionaires... how?

pinpin

In my life:

My dad used to earn an obscene amount of money as a business analyst and programmer for a large oil company earning hundreds of pounds per hour back in the late 80's and his wage steadily grew from then, as well as doing some investing to the point where he retired fairly young as a millionnaire.

Another relative started a construction business when they were fairly young and is now a millionnaire in his 50's.

Another friend is a multi-millionnaire who plays football in the premier league

Can't think of any more real life examples at the moment

Keep_pedalling

BLB53 wrote: »

Easy, I started with £2m and used my bank's investment adviser!

Ronnie Scott used to say it was easy to make a million running a jazz club, you just had to start with 2 million.

Mr_Costcutter

"The art is not in making money, but in keeping it." (proverb)

Pagg

Mr_Costcutter wrote: »

"The art is not in making money, but in keeping it." (proverb)

Good old Micawber. ""Annual income twenty pounds, annual expenditure nineteen [pounds] nineteen [shillings] and six [pence], result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.""

chucknorris

racing_blue wrote: »

If you (or your friend) have a net worth of over £1m: how and when did you (they) get there? I'm wondering about ways to skin the rabbit. Broad brush strokes would be OK. Thanks.

Net worth = however you define it.

The first thing I would say is set your targets higher, £1m isn't really that much these days.

catoutthebag

Is life all about hard work and money or enjoying yourself within your means and through LIFE EXPERIENCES and HELPING those in need? The whole of this board and especially this sub forum is pretty sad reading at times. Pawns in the game.

catoutthebag

I've known lots of wealthy people die of a heart attack through stress and working long days and not relaxing. Funny with the amount they earned. Their kids will be happy with the inheritance though.

Even the poster on page 1 said him and his wife should have enjoyed it more and worked less hard.

I'm not advocating consumerism but neither capitalism. Do what you like. ...but life's too short.

catoutthebag

chucknorris wrote: »

The first thing I would say is set your targets higher, £1m isn't really that much these days.

Yep 1 mill is a few pence ....NOT. forget 1 mill that's for central Londoners.

Let's set the bar to 10 mill. Push the challenge out a bit.

OR snap out of the bubble you live and think about how austerity has meant more people struggle and live on food banks and have lost their jobs and the inflation and bedroom tax.

Such a little bubble the mse forum sometimes.

trotter09

1. Earn more than you spend.

2. Invest by monthly DD in a couple of low cost index tracker unit trusts or large and boring global investment trusts. Never sell.

3. Live a long time.

chucknorris

catoutthebag wrote: »

Yep 1 mill is a few pence ....NOT. forget 1 mill that's for central Londoners.

Let's set the bar to 10 mill. Push the challenge out a bit.

OR snap out of the bubble you live and think about how austerity has meant more people struggle and live on food banks and have lost their jobs and the inflation and bedroom tax.

Such a little bubble the mse forum sometimes.

Its not a few pence, but it isn't what it used to be, it used to be an iconic milestone being a millionaire, it is nowhere near that now.