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OP here....I started this thread to hear about other folks' stories on when they reached the $1M net-worth mark and when they reached their second Million, and if they had any advice on how to reach the 'second million' as quickly as possible.
The thread seems to have gone waaaaaaaay off-base!
OP here....I started this thread to hear about other folks' stories on when they reached the $1M net-worth mark and when they reached their second Million, and if they had any advice on how to reach the 'second million' as quickly as possible.
The thread seems to have gone waaaaaaaay off-base!
LOL I agree thinking man. I'm in the same place and although the first mill wore me out I would like to read the opinions too. Ok back on track...
Net worth of $1M..............................Share your story
OP here....I started this thread to hear about other folks' stories on when they reached the $1M net-worth mark and when they reached their second Million, and if they had any advice on how to reach the 'second million' as quickly as possible.
The thread seems to have gone waaaaaaaay off-base!
the best advice is to be aggressively invested in the stock market and pray that after you earn your first 1 million that the s&p goes on a big run.
it isn't timing the markets ,it is time in the markets so the words stock market and quickly rarely go together.
in fact i think we had one of the greatest investment opportunities fall in our laps in nyc real estate and it still took 13 years to go from 1 to 3 milllion with it after taxes..
Last edited by mathjak107; 05-29-2015 at 03:57 AM..
Good to see so many people actually do a good job of savings and investing. I would feel uncomfortable talking about details personally but most of my net worth is in income producing real estate investments (apartments, senior living). Besides that my home. I know people say to stay in your home forever blah blah etc. Not my style. This is my 4th condo and I'm 32, lived in all 4 within the last 4.5 years. I sold the first at a small loss because of the recession, but my second I rented out for monthly income and sold for $18,000 net gain in only 18 months (place was cheap, that's 12% or so more than I paid). Next place broke even after agent commission in 18 months or so. This place I will sell in 3 years. I get impatient a lot I guess or life happens and I alter what I want out of my home. I have $400K equity in this one though so it's a lot of money tied up there.
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