Becoming rich 101 continued

[alfreda89]

Yup. I’m back on this theme again. All of these are things you can consider, if you haven’t already. You may not become Donald Trump--but these things will help you keep from being poor.

"Most of us"..."have a shot at being millionaires. Last year the number of households worth $1 million, not counting their primary residence, grew 21% to 7.5 million, according to Chicago-based research firm Spectrem Group."

Five things the rich can teach us

Comments

[ladypoetess.livejournal.com]

I would dearly love to be able to follow most of those ideas, but I have to get to a certain income level first. ^^ In order to invest in anything, you have to have a base amount to start with, even if it is a small amount. When you are living paycheck-to-paycheck, that is a hard place to get to.

However, having just moved to a smaller (and resultingly cheaper) area, perhaps the money situation will ease up a little and make life easier as far as being able to start investing, etc.

[alfreda89.livejournal.com]

I relate--all I've been able to do the past few years is keep up my Roth IRA contributions (the rollover was taxed as income, ouch...) But I'm way behind where I think I should be. Sigh.

[lagilman]

I wish I could be a homeowner again -- but until I decide where I'm going to be, long-term, it just doesn't make sense.

I have a car I hope to drive until it dies. I have no current debt. I have a retirement account I've been funding since I was in my 20's. I own my own business, such as it is.

Why am I not a millionaire yet?

Oh, right. Publishing. I should have gone into real estate...

[alfreda89.livejournal.com]

Yup. We picked the wrong fields. Should have been auctioneers....