be a millionaire before 40

u wrote a great post.
cool plan

its simple

I’ll just start saving now!!! :D :)

maybe I’ll win a thousand dollars. That would be a good start to my savings. :)

This is not counting our home, which I should have bought by then, and hopefully paid off the mortgage. I am 33 now, and have saved more than enough for a down payment. I have tended to be financially complacent thanks to getting a bit lucky with stock options in two the jobs I’ve had. Starting a family and trying to buy a house in Silicon Valley is driving reality home.

So, now it’s clear that this goal is not possible if I go with the flow and continue being an engineer employed in a big company.

I don’t have a plan. May be that’s another goal: come up with a plan for the next 5 years.

Anyways, this millionaire thing is a stretch goal, but at least it’s easy to measure progress!

...I don’t want to be a millionaire before 40.
I think I’d like to have a normal life. xD

Right now I’m in the process of formulating a plan to accomplish this. Saying you want to be a millionaire by a certain age and actually doing it are two different things. Within the next 3 wks I want to develop a plan to to this.

I’m not trying to amass as much money as humanly possible, greed is not the motivation. I want enough to not have to rely on the pension when I get old, and so I can help my family who’ve had nothing all their lives (having lived in Eastern Europe). I’d also love to see the world instead of just dreaming about it, and be in a position to financially support several causes important to me. Perhaps I need to become a billionaire instead…

I’m a cancer survivor. My current life insurance policy was bought before I was diagnosed, and will expire within the next few years. At that point we’ll have to replace it with a new policy that will have much higher premiums.

I was just listening to The Dave Ramsey Show. One of his callers is a millionaire and asked if he still needed to carry life insurance. As it happens, the answer was no. If he were to die tomorrow, his wife would be taken care of because they’d made all the right decisions and sacrifices to get where they are and made insurance unimportant.

If I die before my wife, I want to know that she will be in good hands. Because of my special situation, building our personal wealth is the best way to do that.

I thought 40 would be a good time frame to give myself. 10 years seems like enough time all though 5 years would be ideal! :D