How many millionaires on this forum?

[Stephen Storey]

Hi Guys

As per the title…
Interested to hear how many millionaires there is on this forum and what industry you are in / how did you make your millions?

Anyone a good success stories to share?
I would love to hear them ..

 

[DontAsk]

Cash? Property? Investments? Pension pots?

Include all those and I suspect there are quite a few (multi-)millionaires, but not necessarily from their "entrepreneurship".

 

[AllUpHere]

Cash? Property? Investments? Pension pots?

Include all those and I suspect there are quite a few (multi-)millionaires, but not necessarily from their "entrepreneurship".

That was my first thought; you don't need to have done anything spectacular these days to be a millionaire. Pretty much anyone can be a millionaire if that's their goal. Some of the most stupid people I know are millionaires; actually, all of the most stupid people I know are millionaires.

I wouldn't take business advice from many of the millionaires I know, as they don't know anything about business.

Besides, you ain't gonna live a millionaire lifestyle on a million quid around here. Aspiring millionaires need to up their target.

 

[Lucan Unlordly]

I have a lovely wife, beautiful children, my own home, my own business, all my own hair, all my own teeth and am healthier than many of my age. I can afford to sit down in a restaurant and not worry about the bill, take a sunshine holiday abroad, pay the bills and could drink myself stupid every day for the rest of my life if I chose to.

If I ever reach a point where zero's on a piece of paper determine whether I'm rich or not, all I need to do is look around me and see a couple of the millionaires I know who would exchange what they have for what I've got.

'I'm xxxxxx minted mate'

 

[Mark T Jones]

Done a quick tally, and yes, I slip into the box - unless the wife choses to leave, then the figure plummets


On the other hand, both sets of parents are comfortably in that box and neither has done anything vaguely entrepreneurial

 

[AllUpHere]

What would make a bloody good thread would be a 'make a million' challenge. Anyone who wants to take part starts with a small sum, and without leveraging any current assets, tries to make a million as quickly as they can. Would be a very interesting concept; a bit like a reality TV show, but not complete bollocks.

 

[ecommerce84]

Yeah I am, many times over.

The key to my success was taking my net worth and converting it to Yen.

 

[Talay]

What would make a bloody good thread would be a 'make a million' challenge. Anyone who wants to take part starts with a small sum, and without leveraging any current assets, tries to make a million as quickly as they can. Would be a very interesting concept; a bit like a reality TV show, but not complete ********.

It would last about 3 episodes and if they didn't fudge the outcome then it would be episode 9786 before someone came up with a million and that would be from a huge accumulator finishing with the 15:30 at Doncaster and a 1000 to 1 shot romping home.

If you earn £50k but need £45k to live then you cannot stop working earning your £50k to start full time on making the £1m and unless you really hit a genius idea, it isn't that first million that is hard, it is replacing the £50k from work.

Even if you've got that £50k up to £75k or £100k then moving it ahead to £250k is practically impossible for most people and in truth, unless you can get it past £250k and easily onto £500k and beyond, that first £1m will be a very long time coming and will likely only accrue over years if not decades.

TV can't accept 999 failures from 1000 and people losing their shirts living the dream.

 

[Aniela]

What would make a bloody good thread would be a 'make a million' challenge. Anyone who wants to take part starts with a small sum, and without leveraging any current assets, tries to make a million as quickly as they can. Would be a very interesting concept; a bit like a reality TV show, but not complete ********.

Without the luck element involved, you wouldn't find anyone that can make a million quickly.

The thread would last a couple of years at a minimum.

 

[AllUpHere]

Without the luck element involved, you wouldn't find anyone that can make a million quickly.

The thread would last a couple of years at a minimum.

I agree, I can't think of any way I could personally make that sort of money in less than 2 years (from a standing start), and I doubt many on here could either. Might be fun to try though.

 

[fisicx]

Why the obsession with numbers?

Someone with enough money in the bank to pay the bills with a leisurely lifestyle could be considerably richer than someone with a million pound house and debts up to their eyeballs.

Chasing money is often the wrong way to approach life.

 

[Aniela]

Why the obsession with numbers?

Someone with enough money in the bank to pay the bills with a leisurely lifestyle could be considerably richer than someone with a million pound house and debts up to their eyeballs.

Chasing money is often the wrong way to approach life.

Managed debt is one of the best way to generate wealth.

Debt is only a bad thing when you can't pay it.

 

[Alyson Dyer]

Done a quick tally, and yes, I slip into the box - unless the wife choses to leave, then the figure plummets


On the other hand, both sets of parents are comfortably in that box and neither has done anything vaguely entrepreneurial

I hope you all have made IHT planning

 

[Ian J]

Done a quick tally, and yes, I slip into the box - unless the wife choses to leave, then the figure plummets

40 years ago my wife would have been a millionaire if I died but fortunately I never let her know

 

[Ozzy]

As someone once said to me, anyone can be a spreadsheet millionaire. Reality though as already said above, a million doesn't get you very far these days. Plus with zero other assets anyone with a business making around £150-200k a year profit is probably a paper millionaire.

 

[Paul Kelly ICHYB]

Without the luck element involved, you wouldn't find anyone that can make a million quickly.

Unless you already have a few million....

 

[japancool]

Anyone who wants to take part starts with a small sum

A small loan of $1,000,000?

 

[Paul Norman]

If you include property and business assets this is not a massive target.

If you are asking if I have a cool million sat in a bank account in case I get a thirst for £100k bottles of wine, nope.

Any spare cash gets put to work.

Unless the motor home needs replacing. You have to have priorities.

 

[AllUpHere]

A small loan of $1,000,000?

To borrow substantial money would be cheating. Anyone who is credit worthy enough to borrow a million will likely be leveraging current assets.
Proving people with money can make more money isn't big news. Proving someone can make a million from a standing start with little initial capital is a completely different matter.

 

[Annoying Donkey]

What would make a bloody good thread would be a 'make a million' challenge. Anyone who wants to take part starts with a small sum, and without leveraging any current assets, tries to make a million as quickly as they can. Would be a very interesting concept; a bit like a reality TV show, but not complete ********.

Haven't you seen the Undercover Billionaire series...

 

[AllUpHere]

If you include property and business assets this is not a massive target.

If you are asking if I have a cool million sat in a bank account in case I get a thirst for £100k bottles of wine, nope.

Any spare cash gets put to work.

Unless the motor home needs replacing. You have to have priorities.

I think it should include business assets, but not pension pot or your primary residence.

If you are worth a million without selling the house you live in, or dipping into your pension, I think you are in a pretty good position.

 

[AllUpHere]

Haven't you seen the Undercover Billionaire series...

No, I haven't. Who's the billionaire, anyone I'd have heard of?

 

[Annoying Donkey]

No, I haven't. Who's the billionaire, anyone I'd have heard of?

Glenn Stearns.
He was dropped in Eirie, Pennsylvania with $100 and an old truck. Tried to make a million dollar business in 90 days.
All a bit artificial. For instance, he bought a home for renovation. To do this he needed a loan, so he had to tell the lender who he was. Who wouldn't loan some money to a billionaire? But would they loan to some unknown penniless nobody...?
Even then he failed to make the million...

In any case, I was throwing things at the TV. He did it all wrong...

 

[japancool]

To borrow substantial money would be cheating. Anyone who is credit worthy enough to borrow a million will likely be leveraging current assets.
Proving people with money can make more money isn't big news. Proving someone can make a million from a standing start with little initial capital is a completely different matter.

With a starting point of a million dollars, you'd expect to make it to President of the USA...

 

[MikeJ]

40 years ago (when I left school), people dreamed of being a millionaire. They still have a fixation on that number, but the equivalent now would be £3.5 million.

 

[Chris Ashdown]

I dreamed of winning £75,000 on the pools and set for life. never happened

 

[AllUpHere]

I dreamed of winning £75,000 on the pools and set for life. never happened

Dad used to do the pools. I still don't know the significance of a 'no score draw'.

 

[MikeJ]

2 points. A score draw was 3 points, away win 1.5 points, home win was 1 point.

I think an away win is now 1 point also.

 

[Lucan Unlordly]

I dreamed of winning £75,000 on the pools and set for life. never happened

On my 16th Birthday (I think, but as soon as I was eligible) I done a line on the Pools and for weeks told, Mum, Dad, brother, everyone who'd listen that I was going to win. I literally got the first 4 or 5 numbers one after the other, and whooped out loud, so convinced that fate would play out as I'd said.

You all know the rest of the story

 

[Chris Hanson]

I can't imagine a millionaire needing to use a business forum. Those that are wont say.

 

[fisicx]

I can't imagine a millionaire needing to use a business forum. Those that are wont say.

There are a number of millionaires on the forum. They offer advice and ask for help just like everyone else.

 

[Bob Morgan]

Of course, it very much depends on whether or not that 'Million' is Old Money or New Money! - New Money can be frightfully vulgar!

 

[JEREMY HAWKE]

I can't imagine a millionaire needing to use a business forum. Those that are wont say.

You are very wrong my friend but I can understand why by the way we all present ourselves on an average day why you would come to this conclusion

Some big names follow this forum along with a couple of MPs
You never know who is watching and I only wish I would remind myself of this when ever I post

 

[Paul Norman]

One of the things about a forum like this is that there are a variety of people here. Some are actually, behind the facade, fairly successful business people with a couple of quid in the bank.

Some, of course, are just starting and have very little.

Our reasons for being here will be as varied as our bank balances, and as varied as our reasons for running our businesses. Very few of us are here, I suspect, in the hope that we might rake in an extra £8.27 in revenue. We might. But that is not the driver.

So there will be some millionaires here. But like all of the posters, I am mostly fairly coy about how much wonga I actually have.

 

[Bob Morgan]

You are very wrong my friend but I can understand why by the way we all present ourselves on an average day why you would come to this conclusion

Some big names follow this forum along with a couple of MPs
You never know who is watching and I only wish I would remind myself of this when ever I post

The Forum must also be 'Trending' on HMRCs 'Connect!' - But who watches the watchers, who watch the watched?

 

[Lucan Unlordly]

I can't imagine a millionaire needing to use a business forum. Those that are wont say.

Being a millionaire doesn't necessarily arm someone with the experience and knowledge to handle difficult situations that they may never have faced before. Unless they employ HR Consultants, Tax specialists, Lawyers etc., why would they not turn to a business forum for some pointers?

 

[japancool]

But that is not the driver.

Nah, that's @JEREMY HAWKE.