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Old 04-20-2007, 03:07 PM   #1
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Millionaires - How long did it take you to make your first million?

Hey guys

how long did it take you to make your first million?

and your 2nd million?


Curious minds want to know

Thanks
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Old 04-20-2007, 03:21 PM   #2
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1st - 5th then back to 1st through 2nd (stock sucked) i was 29.
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Old 04-20-2007, 03:40 PM   #3
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Define million, cash in the bank or assets? I think the definition of a millionaire is liquid cash.
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Old 04-20-2007, 04:02 PM   #4
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Define million, cash in the bank or assets? I think the definition of a millionaire is liquid cash.
That is a crazy definition. So Bill Gates is not a billionaire?

To answer the question 12 years to first. Then the story gets long and weird....
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Old 04-20-2007, 04:18 PM   #5
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That is a crazy definition. So Bill Gates is not a billionaire?
I don't think liquidity defines it. I would say it's pretty much assets minus the value of your primary residence. People will always need a place to live, and if they sold their house for 1 million just to be a millionaire but to live in a cardboard box, that makes them more of an idiot than a millionaire.

So take out what you need to live at your current lifestyle level, and if you have a million left over, you're a millionaire.
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Old 04-20-2007, 04:19 PM   #6
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I wish that I were qualified to answer this question :-/
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Old 04-20-2007, 04:33 PM   #7
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I think making a million is the easy part. It's keeping it, is the hard part.
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Old 04-20-2007, 04:38 PM   #8
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Define million, cash in the bank or assets? I think the definition of a millionaire is liquid cash.
For what purpose would someone have a million dollars in cash? That seems kind of dumb to me, granted I'm not a millionaire so I wouldn't know...
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Old 04-20-2007, 04:46 PM   #9
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I think making a million is the easy part. It's keeping it, is the hard part.
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Old 04-20-2007, 04:46 PM   #10
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Old 04-20-2007, 04:49 PM   #11
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Old 04-20-2007, 05:22 PM   #12
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do you count equity in the house?
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Old 04-20-2007, 05:28 PM   #13
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do you count equity in the house?
i would say it's fair to count any equity in the house over the 1 million mark.

If you have 2 million equity in a 3 million house, but don't have a million liquid or in all other assets combined, you're a millionaire. If you have 500k equity in a 1 million house, and have 500k liquid, you're not.
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Old 04-20-2007, 05:47 PM   #14
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I inheritted alot 5 years ago ..... dont know if that counts but age 25 if it does hehehehehe and most of it is invested
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Old 04-20-2007, 06:23 PM   #15
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Nearly 4 years for the first one, but once you have that kind of capital to invest into other ventures, it becomes easier. Make your money work for you...

PS: Then you get hit by taxes and half of the money goes to the feds. Can you tell I hate tax season? lol
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Old 04-20-2007, 06:28 PM   #16
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i got over a million colones lol
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Old 04-20-2007, 06:29 PM   #17
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Hell.. everyone on GFY is a millionaire

Only problem is it's all in dollars
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Old 04-20-2007, 06:29 PM   #18
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Well ive done close to 3 million since I was 16. That would be total earned though, im 24 now.
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Old 04-20-2007, 06:30 PM   #19
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i got over a million colones lol
Sheesh... you are one very lucky girl!!
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Old 04-20-2007, 06:36 PM   #20
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If you're talking in adult, less than one year.

interesting the lifestyle and residence comments. My home is paid off. Did that within 5 years (once the tax benefits of the interest weren't doing me any good). Best investment I ever made.

Well.... there's another investment in the pipe.. I may eat my words in a few months about what was my best investment.

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Old 04-20-2007, 06:50 PM   #21
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A better question would be how long did it take for you to make 1 million dollars in a single year. IF you have 10 years in the biz and make 100k a year does that really make you a baller.
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Old 04-20-2007, 09:33 PM   #22
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Just a heads up but there is no need to define a "millionaire". It refers to having a million dollars in net assets. Yes, it includes equity in your house. And yes it is a lot less of a big deal then it used to be.
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Old 04-20-2007, 09:37 PM   #23
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3 years... Put most of my money into real estate and that has worked out quite nicely...

I don't agree with what Pipecrew said but then again he lives in Miami, land of the bling and the high rollers

DH
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Old 04-20-2007, 09:51 PM   #24
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The first one is always the hardest
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Old 04-20-2007, 11:06 PM   #25
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i got million rupees..
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Old 04-20-2007, 11:12 PM   #26
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depend on how you spend to have it......
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Old 04-20-2007, 11:29 PM   #27
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I think making a million is the easy part. It's keeping it, is the hard part.
Exactly!
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Old 04-20-2007, 11:52 PM   #28
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I think making a million is the easy part. It's keeping it, is the hard part.
Ok, give me one million and I'll prove you wrong!
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Old 04-21-2007, 12:30 AM   #29
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well, I think it's going to take me about 127 years, give or take a few
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Old 04-21-2007, 01:08 AM   #30
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"Uhhh one thing, uhh one million dollars isnt exactly alot of money these days"
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Old 04-21-2007, 06:50 AM   #31
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Financially free, or being a millionaire is popularly defined as having a million dollars a year in passive (investment) income. I'd go with that one cause it really means you are a millionaire and truly free.
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Old 04-21-2007, 07:19 AM   #32
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I think making a million is the easy part. It's keeping it, is the hard part.
Can I get Amen? haha
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Old 07-29-2007, 04:32 AM   #33
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bump for this thread
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Old 07-29-2007, 04:39 AM   #34
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2 years maybe 3
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Old 07-29-2007, 04:54 AM   #35
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8 months but that was in € so its harder. And house and cars not counted that's stupid. Just what was in the bank after 8 months.

This was from start company to 1 mil. If u count how many years it took me it was 23 (that was the age i was)
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Old 07-29-2007, 05:02 AM   #36
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the second came 5 months later i think i did not keep track anymore. And after 22 months after the startup i sold out. This was not porn money so sorry for u guys in the porn industries.

I just focused on porn after a 2 year break and I need to proof to myself that if I wanted it I could do it all over again. I give myself 2000 euro startup money and try to make it in the Porn industries this time. If i succeed I do something else again.
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Old 07-29-2007, 05:55 AM   #37
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I don't think liquidity defines it. I would say it's pretty much assets minus the value of your primary residence. People will always need a place to live, and if they sold their house for 1 million just to be a millionaire but to live in a cardboard box, that makes them more of an idiot than a millionaire.

So take out what you need to live at your current lifestyle level, and if you have a million left over, you're a millionaire.
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Old 07-29-2007, 05:56 AM   #38
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Nearly 4 years for the first one, but once you have that kind of capital to invest into other ventures, it becomes easier. Make your money work for you...

PS: Then you get hit by taxes and half of the money goes to the feds. Can you tell I hate tax season? lol
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fucking hate people complaining about taxes all the god damn time, get a life. do you know WHY you pay taxes?
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Old 07-29-2007, 06:03 AM   #39
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fucking hate people complaining about taxes all the god damn time, get a life. do you know WHY you pay taxes?
Yes so 1 million people in my country can do nothing all the time and live on my money.
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Old 07-29-2007, 06:27 AM   #40
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maybe in the next life
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Old 07-29-2007, 07:23 AM   #41
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probably earned till now more,but for sure dont have it now
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Old 07-29-2007, 07:54 AM   #42
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PS: Then you get hit by taxes and half of the money goes to the feds.
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Old 07-29-2007, 08:09 AM   #43
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Financially free, or being a millionaire is popularly defined as having a million dollars a year in passive (investment) income. I'd go with that one cause it really means you are a millionaire and truly free.
what about property and the equity you have in the property? does that count in your opinion?
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Old 07-29-2007, 08:18 AM   #44
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I think making a million is the easy part. It's keeping it, is the hard part.
Do the easy job for me and I'll take care for the hard part!
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Old 07-29-2007, 08:48 AM   #45
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I'll let you know in 30 years.
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Old 07-29-2007, 12:19 PM   #46
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Million is nothing now a days... If you have your shit together, you can very easily get it within 10 years....
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Old 07-29-2007, 12:21 PM   #47
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1 million years...
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