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Depends where you live. In Los Angeles 10 million is the 'retire without a care in the world' number.
Do you know any self made millionaires?
- Thread starter mb23100
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Truth. I love people who say, "If I had a million dollars, I'd buy a house and a cool car and quit my job." Oh yeah? Let's see how that works out for you.
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Yeah if you live on the beach in Malibu. I hate to break it to you LA snobs but lots of poor people and lower middleclass people live and work in LA.
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The amount of people worth at least a million is so high these days, "millionaire" is not what people think of as being wealthy. They are well off indeed, but it is the Billionaire that is wealthy.
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Not sure I agree with this. Millennials are huge in Silicon Valley. They're making millions from blogging, instagram, youtube channels, etc. Millennials are showing themselves to be the most ignorant and brainwashed generation in the last few decades, and many of these ignoramuses are making millions from just existing.
Boomers have been historically ignorant an lucky, no doubt, but many Millennials are at least just as bad. Plus, where do you think the money from the Boomers went to?
These people are different sides of the same coin.
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Fine, but still there are lots of people with just a million.
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I worked for one. He started collecting scrap as a boy with his father. They lived in a run down part of the city. First it was rags then scrap metal just prior to WWII. With the money he made he bought land and a couple of businesses. One made lumber mill equipment and one had made steam engines that pulled logs out of the forest.
The lumber business was dying out in the area so they weren't doing well. He started selling equipment to the western states. He used the steam engine factory to make products out of steel like stairs and fire escapes and moved on to bridges and building steel. Both these companies also provided scrap for his scrap business. He bought other buildings that he rented out. As his businesses grew he needed more room so he bought some land outside of the city that was pretty much a sandlot that was selling cheap. He needed buildings so he got a dealership for inland steel buildings and bought a construction company to build them. He moved his businesses to that land and leased the remainder on 99 year leases. He built the buildings on them and the lessees paid for them. If one of those businesses failed, he owned the land and the buildings on it.
He started a warehouse business storing tires for the US Rubber plant. That business rapidly expanded too.
On one section of land he built 40 duplex units.
He bought commercial property whenever he could get it at a good deal. He owned lots of it all over the city.
He donated millions to the local hospitals.
At a government auction they required a letter of credit from a bank. We looked at it to make sure we didn't overspend. The letter said that the bank guarantees any check for any amount.
He was a true rags to riches man but you would never know it. A sweater was about as dressed up as he got.
The lumber business was dying out in the area so they weren't doing well. He started selling equipment to the western states. He used the steam engine factory to make products out of steel like stairs and fire escapes and moved on to bridges and building steel. Both these companies also provided scrap for his scrap business. He bought other buildings that he rented out. As his businesses grew he needed more room so he bought some land outside of the city that was pretty much a sandlot that was selling cheap. He needed buildings so he got a dealership for inland steel buildings and bought a construction company to build them. He moved his businesses to that land and leased the remainder on 99 year leases. He built the buildings on them and the lessees paid for them. If one of those businesses failed, he owned the land and the buildings on it.
He started a warehouse business storing tires for the US Rubber plant. That business rapidly expanded too.
On one section of land he built 40 duplex units.
He bought commercial property whenever he could get it at a good deal. He owned lots of it all over the city.
He donated millions to the local hospitals.
At a government auction they required a letter of credit from a bank. We looked at it to make sure we didn't overspend. The letter said that the bank guarantees any check for any amount.
He was a true rags to riches man but you would never know it. A sweater was about as dressed up as he got.
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If you did construction work for Donald Trump, you weren't likely to get paid.
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A person that makes $25,000-$30,000/year could probably live quite easily on a million. Buy a $210,000 house in the right location and a $40,000 car and they have $750,000 to live on which is what they would make in 25 to 30 years. This was when they would be paying much of that for rent or house payment.
I retired, own my home and haven't had to touch any of my savings or retirement. Social Security covers everything. My cost of living isn't very high. I should have retired sooner.
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I'm sorry to say I get this reference.
P
Pwent
Guest
a house near me costs over a million
anyone in my neighborhood who has mostly paid off their house is automatically a millionaire
baby boomers have been inflating the fuck out of real estate prices to make it a giant ponzi scheme since they were young. made it very easy for them to accumulate wealth but hard for millennials
P
Pwent
Guest
shitty run down houses in santa ana that need heavy repairs go for like 500-600k. santa ana is a shitty ghetto suburb an hour out from LA (with no traffic) that has a lot of commuters
southern california is expensive as fuck dude
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I am cousins with one of them and I took her virginity.
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I know John T. too.
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My ex boss from when I was a teenager, I worked at a hardware-for-hire store. He was a Polish immigrant who came here in the early 70's and worked his way up to owning a couple of businesses. He owns a luxury multi story home near the beach.
I admired his determination and his hard work. But he was still a massive dick to his workers and customers. Constantly ripping people off and belittling them. One of his sons is the biggest pieces of shit I know too, His other son is cool and laid back though.
I admired his determination and his hard work. But he was still a massive dick to his workers and customers. Constantly ripping people off and belittling them. One of his sons is the biggest pieces of shit I know too, His other son is cool and laid back though.
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Scumbag talk. Everyone has access to the knowledge. But few have the heart and put in the work. The workers are self made. Fuck you
