I'll agree with a lot of that. I was lucky enough to get into computers when I was 11 or so, and enjoyed dicking around with them. What started as a hobby has now been one of my main interests for almost 20 years (2/3 of my life).

Being something I enjoy, I excelled at it, and so by the time I'd left uni and started work I was confident in my ability. It meant that I got a well-paid job in a very good team (who taught me a lot) despite the country just having bottomed out in a recession.

A couple of well-judged decisions (i.e., to go freelance) and perhaps a little luck with the way the industry was going, and it's all come good. I'm by no means a millionaire () but I'm now pretty well-off and earning a lot in a job I enjoy so much I do it as a hobby outside work.

If I'd had more self-discipline and better spending habits a few years ago, I'd be more doing even better.

In actual fact though, I'm about to take what could well be a 40% rate cut by moving to Scotland. There comes a time when you realise that whilst having a large month-to-month income is nice, there are many things in life which are more important. The psychological barrier of voluntarily taking a pay cut is going to be hard, but as they say, there's more to life than cash.

 

Property, Property, Property !

I started out of Uni selling houses at the ripe age of 21 and the director of the company in Wimbledon sat me down and said " Paul, by the time you retire I could make you a millionaire " Yeah, yeah etc I thought - BUT, think about it....

Buy a small one bed flat, do it up sell it make a profit - MIgrate to a 2 bed do the same again, sell it - Every time you do this you are paying more and more of the initial morgage of, plus you are migrating up to bigger and more expensive houses, Potentialy by the end of the period - You could have paid off the entire morgage and have a million pound house to sell, job done.

Simple formula - but is dictated by the market conditions and having your eye well and truly on the Market !

Rgds,

Paul ( No longer an estate agent 'cos not enough money in it )

 

I know four or five millionaires.. (I'm mr average myself.), the common denominator in them all has been the luck to be in the right place at the right time with either the right product or the right service..

I agree with the confidence thing but I think this comes as part of the surity that no one can touch you. You've made yours and without any luck for the rest of your life you'll still be ok...

 

Hard work and a modicom of good luck and the brass ***** in the first place there will always be risk (therefore always gambling)
you have to stick youre neck out and prepare for personal sacrifice
My old man has made it in both liquid and asset form (several times over)with property.
His old man was a brick layer and he started as an architect and quickly realised the money was with the client not the architect.

there is big profit in propety but also big risk
planning authorities and councillors can put big spanners in the works for no reason other than they dont like the look of you

Ps the only people who make money from books about how to become a millionare are those who write them

MATT

 

I know 1 actual millionaire and another probable.
The actual millionaire only achieved his fortune by extreme hardwork and some good fortune. The other also worked hard but has been helped by property, both in his own property choices and the fact that he owns a string of estate agents.

I think the only way to make a fortune is to be lucky or work hard at your own business (or even both)

But are they happy.......YYYYYYEEEEESSSSSSSS

 

I use to know someone who was very lucky or unlucky (depends how you look at it) He was adopted at a young age by a Property developer who died a few years later, and left him, his adopted 16 year old son his entire estate worth millions!

He then went on a spending spree and blew about £70K in 5 months on cars, quad bikes, clothes, holidays, meals, clubbing and of course booze.
The funny thing was that he would drive a car about untill he got bored of it, or it ran out of petrol I kid you not ! Then he would sell it for next to nothing so he could go after his next "must have"

Believe me it soon gets tedius and undermining when someone else pays for anything you want and I soon drifted away from them.
After I left the group of friends his adoptive mother found out he had blown the large amount of money and she made him a ward of court to try and controll him.
What was his response to this, well he went on holiday to Spain and bankrolled all the hangers on as well!

I saw him again a few years later and he was driving about in a nice Porsche.

So thats another way to become a millioniare, be adopted by someone who already is one.

ian

 

Invest a grand in a place where you can get 19% growth year on year - then wait 40 years for it to become a million.

To get your million in ten years you would need a percentage return of (only) 99.5%. (ie doubling your money every year!)

Bon chance!

 

Best way by far be a pimp, no tax and all want it !!!!!!!!!!!!!

All the best

John Catlin


P.S. As cash, no Tax, VAT etc !!!!!!!!!!!

All the best

John Catlin

 

I think you need a wake-up call, mate - there is no easy way. If you're not happy with your lot financially, do something about it. BTW, a million in the bank these days (depending on your domestic overheads) is not going to take you very far.

Best of luck.
Kav

 

It'll get you further than my -£300. I'd swap.

 

& just remember, money can't buy you love

 

Ok...thanks for the replies.I never suggested it would be easy,its just a hypothetical question.

Basically,it seems very rich people are those that work very hard,make personal sacrifices,and either are lucky,or spot an opening and exploit it.There seems to be a lot people getting rich from property too.
Will i become a millionaire....i doubt it,but hey,you can dream right..

Finally,Huxley Chick........thanks for thatrolleyes:..

 

<Believe me it soon gets tedius and undermining when someone else pays for anything you want >
Oh my heart bleeds!
I reckon being a car theif is the best way. 2k a week in tax free notes. All you have to do is not get caught and be business like about your earnings...
astraboy.

 

There are 74,000 millionaires in the UK..

 

This is a profile of the typical USMillionaire.....rather dull IMO....