Are there any millionaires who contribute to MSE?

schiff

And do any of them attribute any of their achievement to the advice and guidance given and available on here? I'm some way short of that target but I do feel it's possible. Thoughts?

surreysaver

Define 'millionaire'. I suspect if someone included their property and pension pot, there would be quite a few 

DullGreyGuy

schiff said:

And do any of them attribute any of their achievement to the advice and guidance given and available on here? I'm some way short of that target but I do feel it's possible. Thoughts?

How are you defining "millionaire" and "contribute to MSE"?

One former colleague's business was heavily promoted by Simon/MSE and they did various joint things and he sold his business for a 8 figure sum. He was well off from his career before forming the company but the company wasnt doing too great until MSE. Count this as "contributing to MSE"? I doubt he has followed any the advice from it though but others following the advice here made the pair of them a vast sum. 

I suspect there are a few millionaires on the forum, if you are including property and not just liquid funds, how many of them would say MSE has made a material financial contribution I dont know. 

Not a millionaire personally, unless considering in Korean Won or something, and wouldnt attribute anything material to MSE. 

artyboy

I'm not sure this thread is going to yield an awful lot I'm afraid. Anyone that does put their head above the parapet, however 'umbly they do so, is at risk of being seen to be waving a certain appendage about.

arfster

The term has kinda lost its meaning tbh. It used to be a synonym for "rich", but with inflation and property prices up so much, that's no longer the case imo.

£1m in the 70s is around £10m now due to inflation, so that perhaps should be a modern equivalent.

Section62

schiff said:

And do any of them attribute any of their achievement to the advice and guidance given and available on here? I'm some way short of that target but I do feel it's possible. Thoughts?

I'll let you know after I've checked my results for the next Premium Bond draw. 

Most of the (suspected) millionaires I know offline wouldn't answer that question openly, but I suspect MSE is frequented by quite a few millionaires if measured by total net assets.

Some of those claiming or hinting to be multi-millionaires I'd have some doubts about though.

ColdIron

I can think of a few regular posters off the top of my head on this board. Head over to the pensions board for many more

GeoffTF

There are over 4,000 ISA millionaires. That does not include defined contribution pensions or unsheltered investments. There will be former high earners who have been investing and spending little for over 50 years. There will also be those who have had successful businesses. The answer to the second question is almost certainly no.

HHarry

Not quite in straight cash / investments, but yes with property.

I don’t attribute any of it to MSE - a chunk came from an inheritance - but the general advice and concepts that MSE promotes are sound and are things that I have always done. So…….

Save
No debt apart from a Mortgage
Invest in yourself to better your earning potential
Be a Needer not a Wanter (buy stuff you need, not want)
Make your money work hard (find the best interest rates, invest sensibly)

The list may sound trite, and I know it is very difficult for some with the cost of living, but starting with something small and simple can snowball you a long way.

zagfles

surreysaver said:

Define 'millionaire'. I suspect if someone included their property and pension pot, there would be quite a few 

If the pension and property values are included I suspect the vast majority of people over 50 living in the south east in a decently paid public sector job will be millionaires. 

The_Green_Hornet

This time next year....

https://youtu.be/OxLrsn9ZsiQ?si=LrE3ukBLjLafIaYR