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

1st - 5th then back to 1st through 2nd (stock sucked) i was 29.

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....

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.

I wish that I were qualified to answer this question :-/

I think making a million is the easy part. It's keeping it, is the hard part.

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...

:thumbsup

bee dee joof!

I was 12. Lemonade stand kicked ass, but made most of it by pimping out my sister.

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.

I inheritted alot 5 years ago ..... dont know if that counts but age 25 if it does hehehehehe and most of it is invested

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
WG

i got over a million colones lol

Hell.. everyone on GFY is a millionaire :pimp

Only problem is it's all in dollars :1orglaugh

Well ive done close to 3 million since I was 16. That would be total earned though, im 24 now.

Sheesh... you are one very lucky girl!! :1orglaugh

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.

PK

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.

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.

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

The first one is always the hardest

i got million rupees..

depend on how you spend to have it......:) :) :)

Exactly!

Ok, give me one million and I'll prove you wrong!

well, I think it's going to take me about 127 years, give or take a few

"Uhhh one thing, uhh one million dollars isnt exactly alot of money these days"

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.

Can I get Amen? haha:pimp

bump for this thread

2 years maybe 3

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)

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.

:1orglaugh:1orglaugh:thumbsup

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.

maybe in the next life

probably earned till now more,but for sure dont have it now:)

:disgust

what about property and the equity you have in the property? does that count in your opinion?

Do the easy job for me and I'll take care for the hard part! :pimp

I'll let you know in 30 years.

Million is nothing now a days... If you have your shit together, you can very easily get it within 10 years....

1 million years...