Poll, how old when you plan to hit $1MM

[DTTB_36]

Just to add to the beyond ballers threads / click bait and when you hit a positive networth. When do you plan to hit 1MM in networth.

I like to subscribe to FIRE blogs and such. Though I don't think I will ever truly retire early. I was hoping to hit the 1MM at 35 but the recession and the becoming a one income family will delay me hitting that number at least 5-10 yrs.

Never doe a poll so we shall see how it goes.

[ExtraSlow]

well I didn't make thirty five.

[lasimmon]

At this rate? Likely never.

[Sugarphreak]

...

[theken]

I will never hit 1m

[ercchry]

Originally posted by Sugarphreak
What if you hit it, and then dropped below?

Then you shouldn't of banked on your house being an asset!!!! :whipped:

/j-hop

[J-hop]

Bank of j-hop - you're poorer than you think :rofl:

[Buster]

Originally posted by theken
I will never hit 1m

Not with that attitude.

[KPHMPH]

28.... thanks foothills 😳

[Tik-Tok]

60... or when my parents pass. Whichever comes first.

[Xtrema]

Originally posted by theken
I will never hit 1m

Everybody posting in the thread will hit $1M sooner or later.

The problem with later is that inflation and government debt may make a roll of TP to cost $1M by the time you get there.

:rofl:

[ercchry]

Originally posted by Xtrema


Everybody posting in the thread will hit $1M sooner or later.

The problem with later is that inflation and government debt may make a roll of TP to cost $1M by the time you get there.

:rofl:

You're just full of doom and gloom tonight :rofl:

[Xtrema]

Originally posted by ercchry


You're just full of doom and gloom tonight :rofl:

My secret is....

I'm always full of doom and gloom.

:rofl:

[Sugarphreak]

...

[vengie]

The goal has always been 30, I've got some serious work to do in the next few years.

[ianmcc]

Already most of the way there-just a matter of making it there before the mortgage is paid in full (6 more years).

[jdmXSI]

Id love to hit it before 40. Lots of work left though.

[Twin_Cam_Turbo]

Probably 40 at this rate. My goal is to be mortgage free by 35 though.

[NoPulp]

Whenever I find a rich wife.

[Pacman]

Are you including house equity? There always seems to be a turf war on the financial forums. Some say the house should be included, others say it's strictly investible assets.

[killramos]

Yea a turf war between those who own houses and those who think renting is a get rich quick scheme :rofl:

[Strider]

Also a point of contention on this forum in the past is whether it's personal assets or combined with spouse.

[timdog]

there are no such thing as 'personal assets' when you're married.

for those interested in FIRE, read http://www.mrmoneymustache.com/
reading some of his stuff will change how you think. and if you're not into reading, he's got a sort of 'TED Talk' from a conference he spoke at: https://vimeo.com/183016901

[Strider]

Originally posted by timdog
there are no such thing as 'personal assets' when you're married.

Sure there is... but if you insist that there isn't, then should the threshold be $2MM for a married couple to participate in this measuring contest? or is it still $1MM?

[killramos]

Depends on how many dicks the couple has

[Manhattan]

Originally posted by Pacman
Are you including house equity? There always seems to be a turf war on the financial forums. Some say the house should be included, others say it's strictly investible assets.

If someone needs to make this distinction then they're not "rich". $500K house with no mortgage and $500 in liquid assets is by no means wealthy. $1 million house with no liquid assets you're in over your head.

Home equity should be calculated into your overall net worth but financial freedom/"wealthiness" comes from having liquid/investment assets.

[timdog]

Originally posted by Strider


Sure there is... but if you insist that there isn't, then should the threshold be $2MM for a married couple to participate in this measuring contest? or is it still $1MM?

$1MM for a single person is not the same as $2MM for a couple. not even close. anyone that lives with their significant other knows that costs go down dramatically when you are partnered up. I'd argue it would be something like $1.3 to $1.5MM for a couple

[max_boost]

lol probably never. If I do hit it, it wouldn't mean much either cuz inflation haha

Unless I can somehow fake my death and collect my life insurance (500k) :rofl: or pull a kphmph and win some sort of lotto haha

I think 5 years ago I had an outside shot at it but it would have required me to be disciplined and sticking with my plan of heavy investing but I couldn't go through with it (too emotional of an investor) and the gf did a truly tremendous outstanding amazing job in shopping/spending lol

These days im closer to 600 and with a shitty economy lol you guys tell me how to get the other 400 in a reasonable time frame lol all on black? Haha

[Buster]

I put the house and most of our other assets into my wife's name. Double whammy.

[DTTB_36]

In terms of FIRE calculations, owning a house impacts the calculation by reducing your anticipated yearly needs; therefore reducing your "number". I liked the blog milliondollarjourney as it is Canadian and realistic. Aside from him living in the maritimes and the associated cheap housing. His goal was to hit it at 35 and he was successful. Now his goal is to get 60g a year in dividend as he is rapidly approaching that. It's a great blog (not as good these days) and its not as extreme or annoying as MMM. MMM has great info too (early blog days) but comes off so arrogant now that I cant stand it anymore.

My networth took a hit because I bought my final home in 2014, so in my networth numbers for end of 2016 calc I took a 100g off purchase price for now.

I take networth as a couple and my "number" is as a couple too.

[flipstah]

Originally posted by NoPulp
Whenever I find a rich wife.

http://www.speakers.ca/wp-content/uploads/2015/10/Michele_Romanow-Oct2015-2-368x207.jpg

[Disoblige]

^^ Finally we agree on taste. I love her :drool:

Way better than your crush on Arlene :barf:

Back on topic: Likely 35, realistically. But the plan is 30 assuming things go 100% to plan, which is unlikely. But that's what the question asked :P

[J-hop]

Originally posted by timdog


$1MM for a single person is not the same as $2MM for a couple. not even close. anyone that lives with their significant other knows that costs go down dramatically when you are partnered up. I'd argue it would be something like $1.3 to $1.5MM for a couple

I would disagree, I'm happy with one or two pieces of furniture and several derelict vehicles around the yard.

She wants a fully furnished house and working vehicles so my expenses shot through the roof.

[danno]

I was doing good until I had 2 kids, and now we have accident on the way too. Haha
Would have been probably 40 but now it's likely to be 50. I don't really worry about money and if I'm going to have it in the future, I just keep plugging away with my savings and paying my house off as quick as I can.

[ercchry]

Originally posted by J-hop


I would disagree, I'm happy with one or two pieces of furniture and several derelict vehicles around the yard.

She wants a fully furnished house and working vehicles so my expenses shot through the roof.

But her expenses have been decreased, so your average is still down?

But that's females for you, mine always tries to spend more than she makes... which really makes the $1mm mark even more impressive :rofl:

[88CRX]

Originally posted by max_boost
I think 5 years ago I had an outside shot at it but it would have required me to be disciplined and sticking with my plan of heavy investing but I couldn't go through with it (too emotional of an investor) and the gf did a truly tremendous outstanding amazing job in shopping/spending lol

Hobbies (cars/other fun shit), girlfriend/wife, and kids will drastically change your perspective and timing of attaining certain wealth haha

[max_boost]

Originally posted by 88CRX


Hobbies (cars/other fun shit), girlfriend/wife, and kids will drastically change your perspective and timing of attaining certain wealth haha

Exactly lol and IMO cash flow is always king. I feel richer having money flowing in vs being stagnant but have 500k to 1mill in the bank. it's a psychological thing who knows.

So with that said, life is about living. Vacations, cars, trips, drugs & alcohol, having a good time haha :thumbsup: :thumbsup: :thumbsup:

[D'z Nutz]

LOL, 1 million sounds pretty damn cheap to me. Is this not including any drinks or something?

Are you guys all students on a budget or something?

[flipstah]

Originally posted by Disoblige
^^ Finally we agree on taste. I love her :drool:

Way better than your crush on Arlene :barf:

Back on topic: Likely 35, realistically. But the plan is 30 assuming things go 100% to plan, which is unlikely. But that's what the question asked :P

Just for you

https://pbs.twimg.com/profile_images/735895155715145728/7EAomou7.jpg

What's the point of chasing 1MM when inflation rate devalues it haha.

[Disoblige]

Originally posted by flipstah


Just for you

Hmm, those jeans make her look fat though. Not the best pic.

[Swank]

Spend it when you can enjoy it! Sorry kids, I'll be dead when you find out I'm an asshole :rofl:

[Strider]

Originally posted by timdog
$1MM for a single person is not the same as $2MM for a couple. not even close. anyone that lives with their significant other knows that costs go down dramatically when you are partnered up. I'd argue it would be something like $1.3 to $1.5MM for a couple
I get that needs / living expenses, etc decrease when partnered up. But I talking strictly in the context of this measuring contest. $1MM or $2MM?


There is only one definition of net worth. All you fire moustache people can go make your own thread with your alternative definitions. :rolleyes:


Originally posted by D'z Nutz
LOL, 1 million sounds pretty damn cheap to me. Is this not including any drinks or something?

Are you guys all students on a budget or something?
:rofl: :clap:

[blownz]

My goal was always 40 and I was excited when I touched it just before turning 38 (late 2014) and then 2015 happened... at least 2016 was good so I was comfortably above and just before turning 40. My bigger goal though is $1M of actual investments and I am still about 3 years away from that. As long as my impulsive wife doesn't quit her job to stay home with the kids again like she keeps suggesting... :nut:

[mr2mike]

I'll wait until inflation takes off and then all middle class will be Millionaires.
So I'll be a millionaire in say, in 5 yrs.

No one's just happy being a Hundred-Thousandaire?
Single comma club represent!

[vengie]

Originally posted by D'z Nutz
LOL, 1 million sounds pretty damn cheap to me. Is this not including any drinks or something?

Are you guys all students on a budget or something?

:rofl: :rofl: :rofl: :rofl:
/thread

[Darkane]

Originally posted by blownz
My goal was always 40 and I was excited when I touched it just before turning 38 (late 2014) and then 2015 happened... at least 2016 was good so I was comfortably above and just before turning 40. My bigger goal though is $1M of actual investments and I am still about 3 years away from that. As long as my impulsive wife doesn't quit her job to stay home with the kids again like she keeps suggesting... :nut:

It was suggested a couple would have to be in the 1.3-1.5 area.

A dink couple could do this pretty quickly so numbers should be adjusted a bit.

A million is a nice round number however.

Question for everyone: should mortgage be paid off prior to achieving this? As in focus on investments when rates are low and payments when rates are high?

The reason I ask is because for the last 8years rates are stupid cheap so I bet a lot of "millionaires" have hefty mortgages. I believe a house of 500-700 should be paid before net reaches a mill.

[J-hop]

Net worth as I was schooled on :) wouldn't necessarily mean you had to pay off your mortgage.

But I've always considered the term "millionaire" to be reserved for people with 1MM relatively liquid. I wouldn't consider someone eating ramen noodles every night with candles for light and heat because they spent every last dollar they saved on a million dollar home a "millionaire". But not everyone defines it the same.

https://www.cnbc.com/amp/2015/06/24/how-many-millionaires-in-the-world-it-depends.html

[blownz]

Originally posted by Darkane


It was suggested a couple would have to be in the 1.3-1.5 area.

A dink couple could do this pretty quickly so numbers should be adjusted a bit.

A million is a nice round number however.

Question for everyone: should mortgage be paid off prior to achieving this? As in focus on investments when rates are low and payments when rates are high?

The reason I ask is because for the last 8years rates are stupid cheap so I bet a lot of "millionaires" have hefty mortgages. I believe a house of 500-700 should be paid before net reaches a mill.

I guess I should clarify that by goal, I don't mean end goal, I just more of a target in the short term. I definitely won't stop working with a mil in cash even though I do have a paid off house and no vehicle loans. I personally think $3M is my number where I look to retire. If both my wife and I work, that will (should) be easy before we hit 60. I am personally in no huge rush to retire. I don't mind working while I can and I get 5 weeks vacation now and as I get older I will just push for more or take time of without pay to get the right work/life balance.

As for your question on having a mortgage paid off, personally with rates this low I don't think you need to be in a rush, but I would always assume that they could easily go back up. And no mortgage is a great feeling and gives you a lot of freedom which is why I paid mine off sooner than I needed to. I sleep better at night knowing that no matter what happens, no one can take away my home or vehicles. :thumbsup:

[tehwegz]

40 seems to be a solid age. I have 15.5 years, gotta start now, gotta dig deep. Plan to skip the mortgage/kids/family crap till I'm 35 at least.

[max_boost]

Originally posted by Darkane



Question for everyone: should mortgage be paid off prior to achieving this? As in focus on investments when rates are low and payments when rates are high?



I tried but I couldn't do it. The markets have done great. Indexes are at all time highs but *I* couldn't do it lol :banghead:

So I pretty much resorted to basically putting all money towards paying off the primary and toys. The stock market just isn't for me. I stress myself out. :nut: :dunno:

But with that said, I'll probably start trading again with excess cash. meaning once cars are paid, once primary is paid it's all extra money.

It literally is whatever helps you sleep at night.

[sputnik]

Originally posted by tehwegz
40 seems to be a solid age. I have 15.5 years, gotta start now, gotta dig deep. Plan to skip the mortgage/kids/family crap till I'm 35 at least.

You probably don't want to wait until you are 35 to find a woman...

As a 37 year old with single friends... its definitely a risky move.

[Buster]

- The mortgage payment vs investment thing is an ago old debate. However, you can't make the argument that "because rates are low today keep a mortgage". Your mortgage is just capital in the market chasing yield - the same as you are chasing yield with your savings. So you can't have mortgage rates way out of lockstep with other destinations of capital that you might have available. (Now things are a bit complicated here because of gov't intervention with rates. ) But generally speaking markets function to prevent significant arbitrage opportunities between risk-adjusted investment yields and your mortgage payment/rates. If you decide to invest outside of your mortgage instead of paying it down, you are just applying a bit of leverage to your investments. There's nothing wrong with that. But paying off a 2.1% mortgage is basically 2.1% yield with ZERO risk. From a risk adjustment perspective, that's pretty juicy.

- You never own your own home - you are essentially renting the dirt from the city, and so you will always have a cost. If you are paying off your mortgage for "peace of mind", then I think that's a bit of self-trickery as you can't turn yourself into a hermit and not play ball with the city. Stop paying your property taxes and then tell me how much you "own" your house.

- $1mm in net worth is a commendable goal, but it's pretty common nowadays, when you look at the statistics. As a term used to describe "wealthy" I'm not sure it's appropriate. If you want to retain that old-time meaning of millionaire, it's probably better to apply it to people who earn (or see a net worth increase) of $1mm or more PER year. Probably speaks to the intent of the term better.

- It's more useful to talk about financial independence along with a nice lifestyle than it is to pick an arbitrary number. As someone else said, if you have to eat ramen to do it, what's the point? Now, if it's just a waystation on the way to financial independence, that's a different goal. But $1mm isn't financial independence by a long shot.

[muse017]

Did hit 1MM net worth at 35

[BoostinAround]

Why focus on net worth so much, it's kinda pointless dick measuring contest.

Focus on monthly cashflow from sources that require little to no time.

I would be willing to bet more people on this forum would have a drastic lifestyle change from a cashflow of just $5,000 / month coming in consistently outside of their active income than just a 1,000,000 net worth.

anyways, you guys should really dream bigger, 1,000,000 is no big deal and can easily be done in a couple years if you know what you are doing. Surpassed it at 27 after 3.5 years. None of it lottery, luck, inheritance or stock market related.

You Can do it!

[Darkane]

Originally posted by BoostinAround
Why focus on net worth so much, it's kinda pointless dick measuring contest.

Focus on monthly cashflow from sources that require little to no time.

I would be willing to bet more people on this forum would have a drastic lifestyle change from a cashflow of just $5,000 / month coming in consistently outside of their active income than just a 1,000,000 net worth.

anyways, you guys should really dream bigger, 1,000,000 is no big deal and can easily be done in a couple years if you know what you are doing. Surpassed it at 27 after 3.5 years. None of it lottery, luck, inheritance or stock market related.

You Can do it!

Is that right? Care to elaborate since you basically said this wasn't investment related?

Other than inventing or an app, this is difficult. Possible family connections into chosen field of work?

[rx7_turbo2]

Originally posted by BoostinAround
1,000,000 is no big deal and can easily be done in a couple years if you know what you are doing.
Tips and tricks? :rofl:

[Maxt]

Originally posted by rx7_turbo2

Tips and tricks? :rofl:
NHL dude... skates are cheap...

[vengie]

Originally posted by BoostinAround
Why focus on net worth so much, it's kinda pointless dick measuring contest.

Focus on monthly cashflow from sources that require little to no time.

I would be willing to bet more people on this forum would have a drastic lifestyle change from a cashflow of just $5,000 / month coming in consistently outside of their active income than just a 1,000,000 net worth.

anyways, you guys should really dream bigger, 1,000,000 is no big deal and can easily be done in a couple years if you know what you are doing. Surpassed it at 27 after 3.5 years. None of it lottery, luck, inheritance or stock market related.

You Can do it!

Sounds like you're affiliated with World Wide Dream builders, aka Amway

[ExtraSlow]

Or World Financial Group.

[Marsh]

Originally posted by flipstah


http://www.speakers.ca/wp-content/uploads/2015/10/Michele_Romanow-Oct2015-2-368x207.jpg



Originally posted by flipstah


Just for you

https://pbs.twimg.com/profile_images/735895155715145728/7EAomou7.jpg

What's the point of chasing 1MM when inflation rate devalues it haha.

Haha good plan, her family is rich as hell.

[HiTempguy1]

I think (inflation adjusted from $1mil currently to whatever it will be in the future) I'll be over that threshold at or around 55. I'm pretty content with that. I'm still a long ways off, but I like to think of it as a slow burn. No point accumulating cash for the sake of cash, you end up in the dirt regardless.

[tehwegz]

Originally posted by sputnik


You probably don't want to wait until you are 35 to find a woman...

As a 37 year old with single friends... its definitely a risky move.

My gf right now is great, and even young and dumb, I can realize this. And I want a future with her. But anything can happen, and I question if monogamy can really still be a thing when the next best thing can be had in the touch of a screen thanks to social media.

There is next to no incentive for a man to get married anymore. The divorce rate in Alberta alone is enough to put me off, considering all you could potentially lose in that scenario, and it's not just about that, but if kids are thrown in the equation - it's just a terrible thing for everyone involved, and probably one of my greatest fears to put them through that, especially coming from a painful history with my own parents.

There's always lifting weights and driving cars. And lots of other things for self improvement and recreation that can fill the void without turning to hookers and blow.


Originally posted by ExtraSlow
Or World Financial Group.

Sick of these pyramids. I don't care how much money they say I'll make, I'm not looking to hand them a bunch of referrals (money) for no reason. And the $500+ in start up fees to get started with them. What a joke.

[Tik-Tok]

Originally posted by sputnik


You probably don't want to wait until you are 35 to find a woman...

As a 37 year old with single friends... its definitely a risky move.

Yeah, but in a few years all the similar aged divorcee's, who took half their husbands portfolio's, will be on the market. :poosie:

[BoostinAround]

Originally posted by Darkane


Is that right? Care to elaborate since you basically said this wasn't investment related?

Other than inventing or an app, this is difficult. Possible family connections into chosen field of work?

I didn't say it wasn't investment related. I said it wasn't stock or lottery related. I also didn't have help from family either.

I chose to invest in real estate and business. I invested even more into learning/education in the first few years. If you don't invest in yourself why would anyone else?

There are a ton of different vehicles that can get you these types of results, but it starts with investing in a mindset and learning how successful people think.

Successful people ask questions and seek to understand, broke people make statements and seek to judge. This is a mindset. And hey, you are in control of changing it!

You guys are right that most people are looking for a hot tip, or real estate deal or some magical business opportunity and get suckered into giving up their money. The reason is they are expecting to get huge results with little or no work, and want it right now.

The best thing you can do is invest in your financial education, learn as much as you can, get around people who have actually had success and the lens you view the world will start to change. When your lens starts to change, you start to see opportunities.

And then it's just a matter of putting in work and exploiting the opportunities you have available.


So it makes no sense for me to share specifics of "you should go do this, or buy this" since everyone's skill set, mindset and resources are totally different. But I will share what I did:

I first when I had a regular job invested $25,000 into courses to learn real estate. Then I actually went out and applied what I learned, but still continued learning and going to more courses. And after consistent effort and hardwork over a period of years was able to achieve some pretty cool results.

Tips and tricks? Invest in yourself....and actually do what you learn from other successful people. There is no shortcut to getting results, and anyone who tries to tell you that is either lying to you or trying to sell you something.

[J-hop]

Tax return or it didn't happen.

Everyone is a millionaire on beyond, everyone works harder than the next guy on beyond, everyone had a fairy tale life of starting dirt poor and making it big.

Slowly unwind their stories and most of the time they are either BS/self deception and they are mortgaged and financed to the gills or they got into investments early because mommy and daddy gave them a 100k worth of investments to "teach them life skills". Like the money grows on family trees life skill :rofl:

[vengie]

Originally posted by J-hop
Tax return or it didn't happen.

Everyone is a millionaire on beyond, everyone works harder than the next guy on beyond, everyone had a fairy tale life of starting dirt poor and making it big.

Slowly unwind their stories and most of the time they are either BS/self deception and they are mortgaged and financed to the gills or they got into investments early because mommy and daddy gave them a 100k worth of investments to "teach them life skills". Like the money grows on family trees life skill :rofl:

Everyone on beyond also feels the need to turn everything into a witch hunt. I still personally think this guy in some way has affiliation with WWDB as he used a lot of key words a friend of mine uses on me (who is also with WWDB).

BUT he has clearly put some time and effort into himself. Would proving him right or wrong in any way make you feel better? If so, perhaps it is you who should spend less time on here and begin to invest more time into developing yourself.

[ExtraSlow]

Not ExtraSlow. He ain't no millionaire, and he sure didn't get to his current humble position without a bunch of help from people.

[J-hop]

Originally posted by vengie


Everyone on beyond also feels the need to turn everything into a witch hunt. I still personally think this guy in some way has affiliation with WWDB as he used a lot of key words a friend of mine uses on me (who is also with WWDB).

BUT he has clearly put some time and effort into himself. Would proving him right or wrong in any way make you feel better? If so, perhaps it is you who should spend less time on here and begin to invest more time into developing yourself.

People that over simplify getting rich often either aren't rich or had some help getting there is all I'm getting at. Real self made rich people also don't go saying things like "look at me I hit 1mill at 27, you're broke sauce if you can't do the same" on Internet forums.

Being skeptical is healthy. 90% of the Mercs in Calgary are leased by people that could never afford to buy the car. But those people will tell you they're rich :rofl:

[rx7_turbo2]

Originally posted by BoostinAround
1,000,000 is no big deal and can easily be done in a couple years

Originally posted by BoostinAround
I didn't say it wasn't investment related. I said it wasn't stock or lottery related. I also didn't have help from family either.

I chose to invest in real estate and business. I invested even more into learning/education in the first few years. If you don't invest in yourself why would anyone else?

There are a ton of different vehicles that can get you these types of results, but it starts with investing in a mindset and learning how successful people think.

Successful people ask questions and seek to understand, broke people make statements and seek to judge. This is a mindset. And hey, you are in control of changing it!

You guys are right that most people are looking for a hot tip, or real estate deal or some magical business opportunity and get suckered into giving up their money. The reason is they are expecting to get huge results with little or no work, and want it right now.

The best thing you can do is invest in your financial education, learn as much as you can, get around people who have actually had success and the lens you view the world will start to change. When your lens starts to change, you start to see opportunities.

And then it's just a matter of putting in work and exploiting the opportunities you have available.


So it makes no sense for me to share specifics of "you should go do this, or buy this" since everyone's skill set, mindset and resources are totally different. But I will share what I did:

I first when I had a regular job invested $25,000 into courses to learn real estate. Then I actually went out and applied what I learned, but still continued learning and going to more courses. And after consistent effort and hardwork over a period of years was able to achieve some pretty cool results.

Tips and tricks? Invest in yourself....and actually do what you learn from other successful people. There is no shortcut to getting results, and anyone who tries to tell you that is either lying to you or trying to sell you something.
All of that in a "couple" of years and accomplished "easily". Amazing.

[Buster]

What did you guys think would happen to this thread? Lol

[rx7_turbo2]

Originally posted by Buster
What did you guys think would happen to this thread? Lol
Make no mistake, this is exactly where I figured this thread would end up.

In the threads defence it's got a pretty decent spread.

- Hard work
- Sound investments
- Lottery
- It's "easy" did it in a "couple" years

[flipstah]

Originally posted by J-hop


People that over simplify getting rich often either aren't rich or had some help getting there is all I'm getting at. Real self made rich people also don't go saying things like "look at me I hit 1mill at 27, you're broke sauce if you can't do the same" on Internet forums.

Being skeptical is healthy. 90% of the Mercs in Calgary are leased by people that could never afford to buy the car. But those people will tell you they're rich :rofl:

Preaching to the choir. I've been reduced to eating Chinese SPAM and Mr. Noodles lmao.

[BoostinAround]

Originally posted by J-hop
Tax return or it didn't happen.

Everyone is a millionaire on beyond, everyone works harder than the next guy on beyond, everyone had a fairy tale life of starting dirt poor and making it big.

Slowly unwind their stories and most of the time they are either BS/self deception and they are mortgaged and financed to the gills or they got into investments early because mommy and daddy gave them a 100k worth of investments to "teach them life skills". Like the money grows on family trees life skill :rofl:

---------

People that over simplify getting rich often either aren't rich or had some help getting there is all I'm getting at. Real self made rich people also don't go saying things like "look at me I hit 1mill at 27, you're broke sauce if you can't do the same" on Internet forums.

Being skeptical is healthy. 90% of the Mercs in Calgary are leased by people that could never afford to buy the car. But those people will tell you they're rich



Have you ever thought that maybe your limiting beliefs are what is holding you back? Do you really think that the only way to be successful is if parents help you or some magical thing happens. No wonder you are so negative! I would be negative too if I didn't believe I had the capacity to actually make changes in my life and everything was up to chance. I imagine it would feel kind of hopeless and make me angry.

You might want to invest a bit in some financial education because you seem confused on the difference between a tax return and net worth. A tax return shows the amount of money claimed in a single year, net worth is cumulative value of assets - liabilities. That's why in my first post I said cashflow is a better indicator of success than simply net worth.

You guys seem to have missed the most important part of what I said:

consistent effort and hard work over a period of years (Not days, or weeks, or months even....).

The concepts of getting rich really are simple, but that doesn't mean it is easy. The real sad fact is most people are not willing to change, not willing to take extra time and money to invest in themselves, not willing to give up bad habits, and not willing to actually go out there and put in action.

Also, being skeptical is good, but being cynical is not. The difference is skepticism is just a gap in information, but cynicism is trying to confirm negative biases.

And I also didn't say I didn't have help. In fact I had lots of help, and I didn't invent anything crazy or have a stroke of luck, just got around people who were a lot more successful than I was, pick their brain, and apply what I learned.

And I also agree that most people who buy new cars finance them or lease them because they haven't been disciplined enough to save up enough cash to purchase a vehicle cash.

From the Calgary Economic Development board they say that (These were 2010 numbers) 1 / 692 people are millionaires, so by default with 335,148 members on beyond that should be approx 485 people on this forum who are. Does that really seem so crazy to you?

If you work on your mindset, educate yourself in the right direction and be willing to make changes in your habits and life, you might see that it is possible in your life too.

[blitz]

Originally posted by BoostinAround

From the Calgary Economic Development board they say that (These were 2010 numbers) 1 / 692 people are millionaires, so by default with 335,148 members on beyond that should be approx 485 people on this forum who are. Does that really seem so crazy to you?.

Do you really think there are 335,148 individual users on beyond? :rofl:

[blindsight]

.

[C_Dave45]

Originally posted by BoostinAround


Have you ever thought that maybe your limiting beliefs are what is holding you back? Do you really think that the only way to be successful is if parents help you or some magical thing happens. No wonder you are so negative! I would be negative too if I didn't believe I had the capacity to actually make changes in my life and everything was up to chance. I imagine it would feel kind of hopeless and make me angry.

You might want to invest a bit in some financial education because you seem confused on the difference between a tax return and net worth. A tax return shows the amount of money claimed in a single year, net worth is cumulative value of assets - liabilities. That's why in my first post I said cashflow is a better indicator of success than simply net worth.

You guys seem to have missed the most important part of what I said:

consistent effort and hard work over a period of years (Not days, or weeks, or months even....).

The concepts of getting rich really are simple, but that doesn't mean it is easy. The real sad fact is most people are not willing to change, not willing to take extra time and money to invest in themselves, not willing to give up bad habits, and not willing to actually go out there and put in action.

Also, being skeptical is good, but being cynical is not. The difference is skepticism is just a gap in information, but cynicism is trying to confirm negative biases.

And I also didn't say I didn't have help. In fact I had lots of help, and I didn't invent anything crazy or have a stroke of luck, just got around people who were a lot more successful than I was, pick their brain, and apply what I learned.

And I also agree that most people who buy new cars finance them or lease them because they haven't been disciplined enough to save up enough cash to purchase a vehicle cash.

From the Calgary Economic Development board they say that (These were 2010 numbers) 1 / 692 people are millionaires, so by default with 335,148 members on beyond that should be approx 485 people on this forum who are. Does that really seem so crazy to you?

If you work on your mindset, educate yourself in the right direction and be willing to make changes in your habits and life, you might see that it is possible in your life too.


Huh...who knew we had Tom Vu (https://youtu.be/kzsSpDyBc_4?t=4m8s) on beyond?!!

[Hallowed_point]

Originally posted by flipstah
Preaching to the choir. I've been reduced to eating Chinese SPAM and Mr. Noodles lmao. No shame in that, it's a nice benz man. But aren't you a foodie lol

[rx7_turbo2]

Originally posted by BoostinAround
1,000,000 is no big deal and can easily be done in a couple years

Originally posted by BoostinAround
The concepts of getting rich really are simple, but that doesn't mean it is easy.
Um...........:dunno:

[Buster]

Originally posted by rx7_turbo2


Um...........:dunno:

Buy low! Sell high!

[rx7_turbo2]

Originally posted by Buster
Buy low! Sell high!
#easynoteasy

[ercchry]

Originally posted by rx7_turbo2


Um...........:dunno:

If you put in the hard work and dedication then it can be easily done in a few years, which does not necessarily mean it was easy work :dunno:

Honestly, at this put you guys are just being dicks for the sake of it

[Hallowed_point]

40-45.

[rx7_turbo2]

Originally posted by ercchry
If you put in the hard work and dedication then it can be easily done in a few years, which does not necessarily mean it was easy work :dunno:

Honestly, at this put you guys are just being dicks for the sake of it
I took the whole thread as a bit of a joke so that's how I've been treating it. No malice intended.

My belief is that in order to accomplish it in a couple years it takes more than just hard work. It probably takes some significant risk, and a dash or two of luck/good timing, which precludes it from being "easily" accomplished. Always exceptions to the rule of course and good on those who've accomplished it.

Depending on how you calculate it I'm not there yet. I'm not sure I've really bothered to keep an eye on a given point to deem my success. I'm more than comfortable, I keep a pretty small nut to crack. A decent home in a good community, my old P.Car, a dirt bike, one nice vacation a year. Provided my conservative plan continues, my lifestyle desires don't change much and inflation remains at its current pace I'll be just fine come retirement, maybe even better off. I'm not ashamed to admit I've had some help. Small financial contibution when I was younger and continued substantial support in the form of advice and instruction.

[HiTempguy1]

Originally posted by blindsight


Doing well myself, but sure wish my parents taught me something good about money.

I was talking to this with a coworker the other day, rather than the bullshitastic "accounting" course I took in grade 10, proper college/uni grade courses should be available.

My life would be a gazillion times easier if I knew how to do basic small business accounting besides "winging it". I'm taking a course now, but geez.

I don't think its possible to get very far without outside help. I am starting a business, from scratch, with my own money, and I just happen to be in a very specific set of circumstances that allows me to do it. And I still have no idea how anyone else does it. Ever tried getting $50k in product to sell, when you don't have the money to purchase it? :nut: Business loans are rarely given for product, only operating costs/startup costs.

I digress.

[Xtrema]

Originally posted by rx7_turbo2

#easynoteasy

All you need is come to my $1600/day seminar to learn how!

[Hallowed_point]

Originally posted by ercchry
Honestly, at this put you guys are just being dicks for the sake of it Did someone hack your account?

[ercchry]

Originally posted by HiTempguy1


I don't think its possible to get very far without outside help. I am starting a business, from scratch, with my own money, and I just happen to be in a very specific set of circumstances that allows me to do it. And I still have no idea how anyone else does it. Ever tried getting $50k in product to sell, when you don't have the money to purchase it? :nut: Business loans are rarely given for product, only operating costs/startup costs.

I digress.

It's always taken money to make money, banks are also rarely a great place to secure lending for risk. This is a great example of why having a solid net worth is important though, lets you use your personal assets as collateral. Amex also likes it when you have something to your name too... a 60 day charge card is a great way to get rolling with inventory too, well if you can move it fast enough

[flipstah]

Originally posted by Hallowed_point
No shame in that, it's a nice benz man. But aren't you a foodie lol

Shh

https://media.giphy.com/media/3ornkcX0fFS4N8pOvu/giphy.gif

[HiTempguy1]

Originally posted by ercchry


It's always taken money to make money, banks are also rarely a great place to secure lending for risk. This is a great example of why having a solid net worth is important though, lets you use your personal assets as collateral. Amex also likes it when you have something to your name too... a 60 day charge card is a great way to get rolling with inventory too, well if you can move it fast enough

I don't disagree with any of this. Just pointing out that "luck of the draw" even for myself was a strong factor in all of this. Did I lay the groundwork for it? Absolutely. But certain things fell into place that I had very little control over.

The overall point I would make is that you need to take every available opportunity, most won't pan out, but it only takes one to make it.

[flipstah]

Get rich quick? Rob a bank. DONE.

[Hallowed_point]

Originally posted by flipstah
Shh Well , on the plus side you can use all of those air miles from Shell for cash rewards and load up at Sobey's.

[flipstah]

Originally posted by Hallowed_point
Well , on the plus side you can use all of those air miles from Shell for cash rewards and load up at Sobey's.

IT'S LIKE YOU'RE A MIND READER! WHO ARE YOU?

[BavarianBeast]

My portfolio climbed over $1M on January 9 when Ariad pharma was bought out. 27 years old.

I always thought I would be at least 35 before reaching this goal.

[flipstah]

In all seriousness, what you put in is what you get out of it. Luck doesn't hurt anybody either.

But anyone who's an actual millionaire and self-sustainable, would NOT be spending their time teaching peasants.

And if they are, it's probably because they're forced by the courts in order to not lose their millions. :rofl:

[ercchry]

Originally posted by flipstah
In all seriousness, what you put in is what you get out of it. Luck doesn't hurt anybody either.

But anyone who's an actual millionaire and self-sustainable, would NOT be spending their time teaching peasants.

And if they are, it's probably because they're forced by the courts in order to not lose their millions. :rofl:

Well there are two types that teach; the ones that are rich because people buy their books and attend their seminars... and the old and satisfied, who want to mentor the next generation, to pass on their knowledge

It's amazing how willing the older generation is to layout that knowledge if you're just willing to listen

[sputnik]

Originally posted by BavarianBeast
My portfolio climbed over $1M on August 9 when Ariad pharma was bought out. 27 years old.

I always thought I would be at least 35 before reaching this goal.

Don't you mean January 9th?

[max_boost]

lol well, still waiting for the ballers to send me a PM on when the next stone cutters meeting is but I'm most likely not welcomed :( :(

[BavarianBeast]

Originally posted by sputnik


Don't you mean January 9th?

Yep, lol. Not sure why I was thinking August.

[Sugarphreak]

...

[littledan]

Originally posted by BavarianBeast


Yep, lol. Not sure why I was thinking August.

Shit that is super impressive BB.

Do you mind if I can ask what your account size was when you started trading and how long ago was that? Did you leverage up right away with a margin account or trade cash?