Who here is a millionaire or working towards it?

Business Money
1

I’m assuming everyone here is anonymous, so feel free to share your story. It would be great to learn from each other and see what’s working for folks.

I was reading an article recently that said there are more 401(k) millionaires than ever before, and it got me thinking—how many people here have hit that millionaire mark or are trying to get there?

I’d love to hear from folks on both sides:

If you’re already a millionaire, how’d you do it? What were the key things that helped you along the way?

If you’re working towards it, what are you doing now to build your wealth? Are you saving, investing, paying off debt, or something else?

2

I’m a multi millionaire. I simply saved until I had several million NTD. Didn’t seem so hard :thinking:

15 Likes
3

We’re millionaires in many countries! :banana:

3 Likes
4

There’s no secret to being a millionaire - inherit it, make a ton of money, invest, gamble, or some combination of the 4. :wink:

1 Like
5

Or marry it!

4 Likes
6

Inflation make it easier.

1 Like
7

I’m in the phase of my life where I am working on drawing down my assets. I’ve been recommending “Die with Zero” to friends in their sixties and seventies.

6 Likes
8

As the saying go’s.

The last cheque I will write is for my funeral, and that one will bounce.

6 Likes
9

If you’re looking for someone to help spend that money, let me know! :grin:

Guy

5 Likes
10

I hope the last check is a spell check to remove that brutal apostrophe. :neutral_face:

Seriously though leaving others to pay the funeral bill is not especially nice. I’d rather leave softly than leaving a pile of expenses for others to pay.

Guy

2 Likes
11

Screenshot 2024-09-11 at 09.44.14
Screenshot 2024-09-11 at 09.44.141406×658 45.2 KB

2 Likes
12

Maximize income, make the most of the hours each day gives you, live frugally (but eat healthy and go to the gym), invest as much as you can

1 Like
13

I must say, Die With Zero is an excellent book. It was an eye opener and we’ve made steps to invest in meaningful experiences. I’ve also recommended it to friends and all have also had great things to say about it.

1 Like
14

Given this lingo, I wonder if you are speaking to Americans only or to the rest of us in Taiwan? Honest question.

Guy

4 Likes
15

My take was the OP was just using that as an example.

1 Like
16

I’ve joined the party very late, or perhaps partied too hard way too long. I think I could get to a million US, but my minimum target is less than that. When I hit twenty million NT I might reevaluate my work-life balance. I think I’ll probably continue working, but a bit less.

I earn more than I spend, invest the difference, and reinvest dividends.

4 Likes
17

image
image769×960 118 KB

1 Like
18

This assumes a constant water temperature, no rain, many variables. I think a back-up plan would be advisable.

2 Likes
19

I mean it’s easier to be a millionaire if you are older. For younger people it’s practically impossible unless they inherit it…Anyway it’s just a number put away as much as you can for retirement.

20

Well, of course. Young people have fewer fixed opportunities, such as buying property and getting mindlessly rich off of that, but there are more opportunities online.

In general, being young and getting sorted financially has become increasingly difficult from the boomers onwards.

1 Like