how long tilll your a millionaire??

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03-23-2005, 04:42 PM
O2BESOHUGE

how long tilll your a millionaire??

calculate it and find out... :woot:

https://www.mortgage-calc.com/miscellaneous/million.html

o2
03-23-2005, 04:56 PM
mick-G

Re: how long tilll your a millionaire??

Were do you get 8% lol?
03-23-2005, 05:07 PM
O2BESOHUGE

Re: how long tilll your a millionaire??

8% SAVINGS, INVESTMENTS, IRA'S OR RETIREMENTS IM GUESSING

O2
03-23-2005, 05:17 PM
Got Gear?

Re: how long tilll your a millionaire??

Page won't load for me :(
03-23-2005, 05:30 PM
angryoldman

Re: how long tilll your a millionaire??

When I get another $999,990 I'll officially be a millionaire
03-23-2005, 08:21 PM
mick-G

Re: how long tilll your a millionaire??

Oh, I thought they meant 8% interest, lol! And AOM, you only have $10. bucks?? Now i feel sorry for you, honest.
03-23-2005, 09:31 PM
JsJs24

Re: how long tilll your a millionaire??

I shoot for 12%. You should be invest in riskier funds until you reach your fourties imo.
03-24-2005, 08:07 AM
snickers1

Re: how long tilll your a millionaire??

i am 31 now i will hit the mark just before i turn 50.... you can see 8% returns on 401k's as long as you have set pretty aggressive...best advice is go see a financial you don't have to have ton money to go see one....they if there any good can point you in the right direction.

fyi did you notice what a million dollars is worth in this day....1 million is only worth 570k
03-24-2005, 08:32 AM
SUGARBABY

Re: how long tilll your a millionaire??

well, my goal is to hit it before 40 - but if all else fails my roth IRA will get me there around 60
03-24-2005, 08:40 AM
snickers1

Re: how long tilll your a millionaire??

Quote:

Originally Posted by SUGARBABY

well, my goal is to hit it before 40 - but if all else fails my roth IRA will get me there around 60

that's great sounds like your on track.......i couldn't see retireing at 40 or even 50 thou....what the heck would i do with myself, coarse i say that now.
03-24-2005, 08:51 AM
Testify

Re: how long tilll your a millionaire??

I am a long way . . .
03-24-2005, 11:53 AM
mick-G

Re: how long tilll your a millionaire??

Only thing about the being Millionaire is that you can't spend it, lol! That is unless you have many millions, lol! You must keep investing to make good amount of interest to live on. 7% will give you 70K per year, but you can't touch the principle. To really be comfortable, i put my figure at about 4 Million. Don't forget you need to have your home the way you want it, money for future debts like college for children, fixing home, vehicles, and other expenses, etc. Sometime it is better to spend alittle to increase wealth, like income properties. It is very good to how how to use the system, like banking and credit for your benifit.
03-24-2005, 12:42 PM
SUGARBABY

Re: how long tilll your a millionaire??

Quote:

Originally Posted by snickers1

that's great sounds like your on track.......i couldn't see retireing at 40 or even 50 thou....what the heck would i do with myself, coarse i say that now.

Oh, I would never retire - there is always work to be done, but instead of working for money, I would be working to "help" and be "Charitable" instead.
03-24-2005, 05:21 PM
Buffgrandpa

Re: how long tilll your a millionaire??

I should make it by my millionth birthday