Current Events > At your current status, what is your likelihood of being a millionaire?

(+) Yeah! (+)

in your lifetime?

I dont see it happening unless I win the lotto

Less than 10% chance.

i wonder if i could speed run to being a negative millionaire.

Basically zero, unless my grandmother is leaving mom millions of dollars and she leaves it to me.

Does being an asset millionaire count?

Nothing at all
Nothing at all
Nothing at all

Only way I can become a millionaire is through my house. It's at ~$700k now so it could happen in the not too distant future as it appreciates and ups my net worth.

Pretty certain, barring death, economic collapse and/or mass social upheaval. I've got decades to go until I retire, I'm not that far off as it is, and I'm fairly certain a million won't be nearly enough to retire on when the time comes.

I'm technically already there.

I wasn't born a millionaire, so I'll never be one.

ai123 posted...

Does being an asset millionaire count?

Yes and no. Depends on who you ask.

If we count my retirement account I'm invested in I'm already there. I took a job that offered slightly less on the $ per hour aspect but had free insurance and they not only did a full match they doubled it up to a certain percentage. So I played the long game and opted for superior benefits while still making decent money and on year 27 at my job it is really gaining a lot of steam at this point. Didn't do anything special except compound interest over time.

99%.

I think my 401k will get there by age 65 even if I don't put another cent in it. A million dollars is a pretty outdated rule of thumb though so I'm shooting for maybe 3m to retire with.

So 1 million? Liquid or all assets? If the latter, maybe.

Unless I suddenly win the lotto. Not at all.

NightRender posted...

99%.

I think my 401k will get there by age 65 even if I don't put another cent in it. A million dollars is a pretty outdated rule of thumb though so I'm shooting for maybe 3m to retire with.

You can't even buy a house with a million dollars these days.

Net worth millionaire? As long as Trump doesn't fully destroy the economy, I should get there in a few years. Like 75% of my net worth is in my 401k.

Access to $1 million cash? Probably in 15 years.

Most people count net overall worth, not just cash. By that metric, probably like 75% assuming I live another 20+ years.

Don't really see it happening

Never... Doubt I'll even pass 100k

McmadnessV3 posted...

Unless I suddenly win the lotto. Not at all.

You can't even buy a house with a million dollars these days.

While there are certainly geographical areas where this is true this is a pretty broad stroke that doesn't apply to many places. You can still get decent quality average houses in my area of the Midwest in the hundred thousand range.

Hell like top end dream houses with a pond, 15 to 20 acres, a nice steel pole building shop on concrete with full electrical, that are super nice can be had in the $600K range here and there.

If by 'Millionaire' we include people who have assets equal to at least 1 million dollars.

It is possible between my home and when my parents die what they leave me I might just break a million.

More likely I will be a 800 to 900 thousandaire.

Already there

Still no clue yet. It took to my early 30s to finally obtain a good job and career. I have around 50k in my 401k, along with a house Ill finish paying the mortgage on well before then.

If thats the case I may be able to retire if thats paid. Although seeking someplace overseas will probably be my best bet.

Almost Happened 20y ago. 2005-2008 was the peak of our business. In that 3y period our our gross was 1.5 mil. It was a partnership so it counts I think. All the money went to the same pot and used as we needed it.

Not very high, but perfectly possible.

Quite likely with my retirement account alone. Currently 1/5 of the way there with decades to go.

I'm also likely to get a sizable inheritance from my parents since my dad's parents have a lot of money. Of course maybe my grandma will use more than we think. She is almost 90 and you never know what medical bills she'll have.

I also have to assume my parents won't blow it. My dad is cheap, at least, but he's clueless with how to grow money. He never really had to care since he's got a huge government pension waiting for him when he decides to finally retire. I'll also get their house since I'm an only child.

I'm not exactly the average American, though. I've gotten a lot of leg ups from my family. Never had any student loans since my grandpa was able to pay for all of his grandkids to go to college, and my parents do not mind me living with them and saving money.

My lawyers have advised me to not discuss my monetary value to strangers.

TMOG posted...

I wasn't born a millionaire, so I'll never be one.

Thats a bad excuse.

I wasnt born one but am a year or two away if the market keeps moving the way it has.

1 in 3.8 million each Wednesday and Saturday, unless I forget to get my ticket.

Outside of that probably zero.

99%

Unless I die earlier than expected I will definitely have at least 1 million dollars.

0

whitelytning posted...

Thats a bad excuse.

I wasnt born one but am a year or two away if the market keeps moving the way it has.

Karma: 7259 Active Posts: 6

Quite unlikely unless the dollar just hyperinflates

0%.

My aunt and uncle are millionaires. But were not close, so they wont be leaving me any of it when theyre gone. So basically, never.

I haven't been playing the lottery lately so it's pretty low

What are the odds at winning the powerball again? Yeah that.

https://gamefaqs.gamespot.com/a/forum/3/3fb455cd.jpg

with hyperinflation all things are possible

With hyperinflation we can all be millionaires.

50%, it'll either happen or it won't

Counting household net worth, very high chance within the next year or two.

If I cut *all* my recreational spending and had guaranteed income of my current level I'd be there within 10 years

Rent takes 30%, slap on another 10% for cost of living, and that makes maybe 15 years

That hardly seems like a life worth living for that duration though

I'd have to run into some serious financial situations to not become a millionaire.

I'll already a millionaire

...in Korean won >_>

LOL.

That's my status: LOL.

Caregivers and pastors (real ones, not crooked, evil televangelists) don't become millionaires.

I don't think it's super likely, but I could see a few ways it could happen. It would mostly be luck based though. And at least one way would be bad luck, that being a lot of relatives dying, but it would have to be a lot because I wouldn't be inheriting stuff from extended family unless I was the closest living relative.