Do you know any self made millionaires?

[TestosterOWN]

I invented the fleshlight.... LOL JK. I WISH

 

[HIMBOB]

That's for the US, up here in Canada the household median income is ~$76,000. Even in the US if you reduce that proportionately, 76:52, you are asking a household to put away 17K/annum. Also because you're in the US, you have access to much broader range of higher yielding bonds, shares and preferred shares you could probably match the 16 year time frame. In short, a million dollars is not a lot of money by any stretch of the imagination.

@Mike Hopefully this answers your question.

I would have assumed Canada has higher returns then America. I know Europe having lower returns than America is a historical anomaly but haven't heard about Canada being in the same situ.

 

[Mike]

That's for the US, up here in Canada the household median income is ~$76,000. Even in the US if you reduce that proportionately, 76:52, you are asking a household to put away 17K/annum. Also because you're in the US, you have access to much broader range of higher yielding bonds, shares and preferred shares you could probably match the 16 year time frame. In short, a million dollars is not a lot of money by any stretch of the imagination.

@Mike Hopefully this answers your question.

I've never known anyone that made 75k+ per year. That's already a rich person to me.

 

[Satur9]

I've never known anyone that made 75k+ per year. That's already a rich person to me.

That's not rich, but it certainly is upper-middle imo. That is per household too, so more than one working adult. Definitely not rich.

 

[Mike]

That's not rich, but it certainly is upper-middle imo. That is per household too, so more than one working adult. Definitely not rich.

Yeah I wasn't being super serious. I know they're not technically rich, but that is so much more money than I've ever made, or ever seen anyone make, that it seems rich to me.

 

[Satur9]

Yeah I wasn't being super serious. I know they're not technically rich, but that is so much more money than I've ever made, or ever seen anyone make, that it seems rich to me.

Ahh gotcha.

It too seemed out of reach to me growing up. Being raised poor sucks.

 

[guard_passer]

Same actually, his grandfather was a poor imigrant made good.



Now thats impressive.

One of the most intelligent men I know. Proud to call him a mentor

 

[GhostZ06]

mom and dad. my dad was a corporate lawyer, and worked at the pentagon during the glory days of cold war . Also he worked on wallstreet a little bit during the economic boom


mom i'm not sure exactly


hmmm one of my friends as well but to what extent im not sure.



forgot to throw that in there

 

[Krixes]

My Sister has made over a million dollars selling weight loss products. Every-time she gets one of her clients to sell to someone new she gets a small percentage of the money. She's been doing it for about 8 years and has moved way up the food chain.View media item 26411

 

[Graves The Elder]

me.

 

[HereticBD]

My Grandfather.

Got into machine tool sales in the 50's. Started his own company, and reaped some nice rewards. The company is still going strong today.

Guess what I do for a living...

 

[kriminal.pro]

In Australia being worth more than a million is pretty common because the property prices are insane.

In Sydney there are over 350 suburbs where the average house price is more than 1m. It's insane.

I work for the bank and do home loans and some of my customers have 15, 20 25 even 50 houses they have mortgages on them but the houses are worth more then the mortgage..

Knowing somebody who has a million dollars in cash sitting in their account that's way different - I don't know anybody that has a million just sitting there but being worth more than a million is pretty common place just due the price of houses.

 

[wonderbread]

Me. Law School. Made first million at 44.

 

[punkmother]

I'm sorry to say I get this reference.

only because you got refrigerator magnets put on your back.

 

[djacobox372]

For Millenials yes. The Baby Boomers no. They born at right time. They hoard all the easy opportunities. Especially like Real Estate opportunities.

Exactly this; just about everybody in my neighborhood is a self made millionare, as most of the houses are worth 1 to 2 million and they're almost all entirely owned by former blue-collar boomers who bought them for 100k or less.

 

[KhabibTheBeagle]

My Uncle has his own company, but I don't know quite what he does. He manufactures stuff for trains, I think. If he's not a millionaire, he can't be far off.

 

[Literally Bricked]

Jesus Christ who the fuck makes enough to save 25K a year. Certainly not anyone in the middle class.

Ahh gotcha.

It too seemed out of reach to me growing up. Being raised poor sucks.

Also as mentioned, that is Canadian. So it is somewhat relative, by all of ~20%. Purchasing power is different by country as well.

 

[Hollywood Jack]

Same actually, his grandfather was a poor imigrant made good.



Now thats impressive.

The guy I know inherited his business that was started by his grandfather in the 40s and then expanded by his father in the 60s. The family's had money for a while, but would still be considered nouveau riche by a lot of the old money in the area.

I'd love to create something like that which is both critically acclaimed as well as commercially successful.

 

[Dana_is_your_GOD]

Hell no, all those mofo's inherit it.

 

[usfbrah]

I know a few who own restaurants and a dude who got rich off pro poker.