Posted on 07/14/2006 5:50:11 AM PDT by libstripper
The day my husband and I became millionaires was a lot like any other day.
He went off to work, grumbling about the commute. I was fretting about our utility bill and decided to check our personal finance software to see how much more we were paying than the previous year. While I fiddled with the numbers, I told the software to update our account balances. Lo and behold, the net worth column showed seven figures where before there had been six.
There was no popping of champagne corks, no trips to the Continent, no quitting of jobs. The fact that the experience was so mundane speaks volumes, both about how millionaires are really created and what it means to be one. Looking for a loan? Check out MSN Money's Loan Center
(Excerpt) Read more at moneycentral.msn.com ...
Sounds like too much work....
I'm going over to the thread where buying gold cures all your ills.
When large numbers of people have managed to save large amounts of money congress will find a way to take it away.
If you are really smart, you will just marry a millionaire and skip all the hassle.
Or a millionaire's widow.
There's a lot of good, simple common sense in this article - but as the saying goes, common sense ain't so common.
One thing I'd add: she does warn people away from home equity loans, and I'd amend that a little. We did do a home equity loan, but we used it the way it was intended - to add on a room, update the kitchen and bathrooms, increase the value of the house. We did NOT use a home equity loan to pay off other debt, buy a car, take a vacation.
So, what should your response be? Not to save money at all, so you'll fool 'em? Yeah. Great idea. :)
I don't speak from experience, but I could not imagine a harder path to wealth than marrying for money.
I'm going to have much more than a million when that Nigerian feller comes through with my money. I just sent him another check for administrative purposes but just wait and see what he's gonna send me!
I.E. You can be worth a million and might not be able to pay your bills without spending the capital!
"Or a millionaire's widow."
Just ask Hanoi John Kerry.
He's married two rich widows already.
You can also make a lot of $$$ by replying to those Nigerian e-mails.
I've got a 7-digit bank account too!...
If you count the minus sign and the two decimal places. :)
If you're going to marry for money you need to have something to give in return.
It looks like all I need to do is go back in time a decade (or so.... cough, cough) to when I was 25, find a bank that will give a 25 year-old (that looks like a middle aged guy from the future) a savings account with a mere 8% !!!! interest rate, and invest about 62 THOUSAND dollars.
Well ... you really better know the details of his death first......
Maybe in California, but in Texas spending over $200k on real estate and you start to get into all the house most people ever want.
Besides, a million dollars isn't what most people think it is. It most certainly isn't so much wealth that you no longer have to worry about working -- nowhere near it in fact. It might be enough to retire on if you don't live too long.
You have two decimal places? There must be an embargo on decimal points where I live because they only dole them out one at a time here.
Land rich and cash poor. George Washington had that problem.
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