Comments on: How to Become a Millionaire in 10 Years http://frugaldad.com/2008/08/19/how-to-become-a-millionaire-in-10-years/ Tips for living frugal while still having a life Fri, 20 Nov 2009 21:33:01 -0600 http://wordpress.org/?v=2.8.5 hourly 1 By: Millionaire Acts http://frugaldad.com/2008/08/19/how-to-become-a-millionaire-in-10-years/comment-page-2/#comment-32945 Millionaire Acts Thu, 22 Oct 2009 02:12:17 +0000 http://frugaldad.com/2008/08/19/how-to-become-a-millionaire-in-10-years/#comment-32945 think the ultimate way to become a millionaire is to EARN MORE and DESIRE LESS. Earning more increases your income i.e. (taking a second job, investing your money, buying assets that provide passive income, etc.) while desiring less lessens your spending (i.e. budgeting, frugality, etc.) Make it a habit and definitely, you would become a millionaire someday think the ultimate way to become a millionaire is to EARN MORE and DESIRE LESS. Earning more increases your income i.e. (taking a second job, investing your money, buying assets that provide passive income, etc.) while desiring less lessens your spending (i.e. budgeting, frugality, etc.)

Make it a habit and definitely, you would become a millionaire someday

]]> By: Lena http://frugaldad.com/2008/08/19/how-to-become-a-millionaire-in-10-years/comment-page-2/#comment-32494 Lena Tue, 06 Oct 2009 07:36:40 +0000 http://frugaldad.com/2008/08/19/how-to-become-a-millionaire-in-10-years/#comment-32494 I love this I am 20 so Im hopong to get a head start early. I am really excited this helped a lot. It is a stretch but it will pay off. THis was really great advice thanks I love this I am 20 so Im hopong to get a head start early. I am really excited this helped a lot. It is a stretch but it will pay off. THis was really great advice thanks

]]> By: stockmanmarc http://frugaldad.com/2008/08/19/how-to-become-a-millionaire-in-10-years/comment-page-2/#comment-32474 stockmanmarc Mon, 05 Oct 2009 13:59:21 +0000 http://frugaldad.com/2008/08/19/how-to-become-a-millionaire-in-10-years/#comment-32474 Nice Post! While the amount in the example is a stretch for most, its still achievable. Like one of your readers said start with smaller amount and work your way up. Also when investing/saving, remember what Warren Buffett said "rule #1 don't loose money", "rule #2 don't forget about rule #1" Nice Post!

While the amount in the example is a stretch for most, its still achievable. Like one of your readers said start with smaller amount and work your way up.

Also when investing/saving, remember what Warren Buffett said “rule #1 don’t loose money”, “rule #2 don’t forget about rule #1″

]]> By: cassie http://frugaldad.com/2008/08/19/how-to-become-a-millionaire-in-10-years/comment-page-2/#comment-31526 cassie Sat, 12 Sep 2009 21:25:44 +0000 http://frugaldad.com/2008/08/19/how-to-become-a-millionaire-in-10-years/#comment-31526 I think this is very reasonable. It's all about being responsible. It's about spending money that you have and not using credit cards. I have been doing this for about a year now and while I haven't done $4000 a month I am doing half that amount..but this article is showing that it is possible to do more. It all about making sure that all the money you make goes to you and not to interest on loans and credit cards. I went to college and had a huge student loan. A few years ago I did the math and found out that my four years at college would cost more than four times more if I paid the min amt and had it last the full 20 years they give you to repay. I am now proudly debt free. While I do not have the best paying job in the world. I budget very carefully. And all my money goes to me. I think this is very reasonable. It’s all about being responsible. It’s about spending money that you have and not using credit cards. I have been doing this for about a year now and while I haven’t done $4000 a month I am doing half that amount..but this article is showing that it is possible to do more. It all about making sure that all the money you make goes to you and not to interest on loans and credit cards. I went to college and had a huge student loan. A few years ago I did the math and found out that my four years at college would cost more than four times more if I paid the min amt and had it last the full 20 years they give you to repay. I am now proudly debt free. While I do not have the best paying job in the world. I budget very carefully. And all my money goes to me.

]]> By: Linda http://frugaldad.com/2008/08/19/how-to-become-a-millionaire-in-10-years/comment-page-2/#comment-31343 Linda Tue, 08 Sep 2009 18:18:17 +0000 http://frugaldad.com/2008/08/19/how-to-become-a-millionaire-in-10-years/#comment-31343 I WISH I COULD SAVE 1000 A MONTH . RIGHT NOW LIVING PAY CHECK TO PAY CHECK CAN'T SAVE ANYTHING. HAVE 11000 IN MY 401K PLAN FROM WORK WHICH I AM GOING TO HAVE TO PULL OUT EARLY TO SAVE MY HOUSE FROM FORCLOUSER. I WISH I COULD SAVE 1000 A MONTH . RIGHT NOW LIVING PAY CHECK TO PAY CHECK CAN’T SAVE ANYTHING. HAVE 11000 IN MY 401K PLAN FROM WORK WHICH I AM GOING TO HAVE TO PULL OUT EARLY TO SAVE MY HOUSE FROM FORCLOUSER.

]]> By: Millionaire Inspiration http://frugaldad.com/2008/08/19/how-to-become-a-millionaire-in-10-years/comment-page-2/#comment-27422 Millionaire Inspiration Mon, 22 Jun 2009 20:02:03 +0000 http://frugaldad.com/2008/08/19/how-to-become-a-millionaire-in-10-years/#comment-27422 Great ideas, I've always wanted to become a millionaire!! Great ideas, I’ve always wanted to become a millionaire!!

]]> By: Josh http://frugaldad.com/2008/08/19/how-to-become-a-millionaire-in-10-years/comment-page-2/#comment-26868 Josh Mon, 15 Jun 2009 05:30:33 +0000 http://frugaldad.com/2008/08/19/how-to-become-a-millionaire-in-10-years/#comment-26868 I know this may not be possible for manypeople at this point, but instead of getting credit cards use cash or debit cards from a checking account. Buy or rent an appartment and possibly share it with a room mate. Buy a used car( no car lones). Make your cloths last longer as well as shoes. Try not to buy stuff you don't need unless it's an investmant that will appreciate in value. Don't put all your money in one place. Learn new tricks such as web design to rake in a few more hundred. Find a bank with the best interist, the more money In the account the more it gains. Be informed on what is happening on the stock market, the realestate market, and other industrys that can change your life style. This is aimed at younger adults or teens of all ages who still are "clean" of debt and are financially free. -Wallace I know this may not be possible for manypeople at this point, but instead of getting credit cards use cash or debit cards from a checking account. Buy or rent an appartment and possibly share it with a room mate. Buy a used car( no car lones). Make your cloths last longer as well as shoes. Try not to buy stuff you don’t need unless it’s an investmant that will appreciate in value. Don’t put all your money in one place. Learn new tricks such as web design to rake in a few more hundred. Find a bank with the best interist, the more money In the account the more it gains. Be informed on what is happening on the stock market, the realestate market, and other industrys that can change your life style. This is aimed at younger adults or teens of all ages who still are “clean” of debt and are financially free.
-Wallace

]]> By: paul meyer http://frugaldad.com/2008/08/19/how-to-become-a-millionaire-in-10-years/comment-page-2/#comment-26527 paul meyer Thu, 11 Jun 2009 00:51:38 +0000 http://frugaldad.com/2008/08/19/how-to-become-a-millionaire-in-10-years/#comment-26527 I beg to differ Sir. In my opinion right now is the easiest time to get extremely rich quickly if you are willing to rake strategic risks in stock market commodities and real estate property. Good into either with even a minor recover in the civilian section and all the new government jobs that will be added will boost these markets. I'm not saying we aren't headed for a bigger crash, but in the in between time while the markets ARE going up BIG MONEY. Everyone will ALWAYS NEED a roof over their heads, food to eat, transportation, and something to do (the stock market companies creating that). I beg to differ Sir. In my opinion right now is the easiest time to get extremely rich quickly if you are willing to rake strategic risks in stock market commodities and real estate property.

Good into either with even a minor recover in the civilian section and all the new government jobs that will be added will boost these markets.
I’m not saying we aren’t headed for a bigger crash, but in the in between time while the markets ARE going up BIG MONEY.

Everyone will ALWAYS NEED a roof over their heads, food to eat, transportation, and something to do (the stock market companies creating that).

]]> By: Worried Dad http://frugaldad.com/2008/08/19/how-to-become-a-millionaire-in-10-years/comment-page-2/#comment-26521 Worried Dad Wed, 10 Jun 2009 23:37:22 +0000 http://frugaldad.com/2008/08/19/how-to-become-a-millionaire-in-10-years/#comment-26521 I believe with the state of the world economy that making money now is going to be harder than ever. Not only our people more frugal, but the competition for income is going to be huge with all the lost jobs out there. I believe the answer muswt come from ourselves. We must budget and be frugal, frugal, frugal.... I believe with the state of the world economy that making money now is going to be harder than ever. Not only our people more frugal, but the competition for income is going to be huge with all the lost jobs out there. I believe the answer muswt come from ourselves. We must budget and be frugal, frugal, frugal….

]]> By: optimistic http://frugaldad.com/2008/08/19/how-to-become-a-millionaire-in-10-years/comment-page-2/#comment-18356 optimistic Wed, 18 Feb 2009 20:59:42 +0000 http://frugaldad.com/2008/08/19/how-to-become-a-millionaire-in-10-years/#comment-18356 i understand the whole concept of becoming a millionaire through a ten year plan, but what i dont understand is why would this need to be done, an interest amount in a bank would never amount to 12% especially in a recent recession, in the uk currently it stands at 1%. but for arguments sake we will use the 12% as a bull park figure. over the ten years you will have to pay in 1000 a week for 520 weeks, my calculation amounts total payable out at £520000.00. ok over that 10 years you will earn an extra £480000.00 on top of your original investment, but will this really pay out enough mony through interest when a million is made, as i mentioned the interest rate in the uk is currently 1% that means a total of £10000.00 a year in interest on a million pound, which derives to getting a £200.00 a week return, that is pretty poor for a £1000 a week investment. surely its worth living life and saving if possible that £1000 a week to spend at the end of the year on cruises holidays and leisure gifts. we are never able to tell what is going to happen in the future regards to recession and banks crashing which is why i feel it is very unsafe to invest on a basic high saving interest bank account. there are more very appealing lucrative investments out there to be made. spend for today as you may never know what is round the corner. i understand the whole concept of becoming a millionaire through a ten year plan, but what i dont understand is why would this need to be done, an interest amount in a bank would never amount to 12% especially in a recent recession, in the uk currently it stands at 1%. but for arguments sake we will use the 12% as a bull park figure. over the ten years you will have to pay in 1000 a week for 520 weeks, my calculation amounts total payable out at £520000.00. ok over that 10 years you will earn an extra £480000.00 on top of your original investment, but will this really pay out enough mony through interest when a million is made, as i mentioned the interest rate in the uk is currently 1% that means a total of £10000.00 a year in interest on a million pound, which derives to getting a £200.00 a week return, that is pretty poor for a £1000 a week investment. surely its worth living life and saving if possible that £1000 a week to spend at the end of the year on cruises holidays and leisure gifts. we are never able to tell what is going to happen in the future regards to recession and banks crashing which is why i feel it is very unsafe to invest on a basic high saving interest bank account. there are more very appealing lucrative investments out there to be made. spend for today as you may never know what is round the corner.

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