Millionaire Lifestyle

[crus]

It was more of a sensual relax, than an agressive one,

For sure I would, yep I would be working from a boat moored in Jersy, but after sorting out the relatives and friends, a couple of months serious partyting, I would then look to develop many of the 100's of domains I own.

I'd get bored otherwise, it would be in a more management role though, making time for my other passions of my lady, music, the sea, sun and fast cars!

OH yeah and a the bit of work for charity, but we don't like to discuss that.

D

 

[creacom]

to be honest, i also aim for the millionaire lifestyle. I know this is only bought with hard work and determination.
but i am raplidly coming to the conclusion in life that it is the opportunities that come your way which lead to the success. These might not be the opps u want, but they are there.
Therefore i always think it is better to take them than wait for others.

After all its like catching a bus, all the seats are taken onb the ones going where u want to go. So in time it is better to take q seat on a bus even if it is not exactly going where u want to go. At least this way you ewnd up going somewhere which might lead to where u want to go.

I dont agree sorry. Life and business is what you make it. If you get on the bus and there are not any seats you should stand and enjoy the view. Not look for another route just because you want it the easy way !

I would also prefer to choose my direction and where I want to get off ( if I do ) rather than end up somewhere else. Not that Im scared of the unknown just that when you are going in the direction you choose you can take any turn you like.

Of course, all oppurtunities can lead to success. However you can be presented with the best oppurtunity in the world but if you dont believe in it and commit 150% to it - your chances of failure are a lot higher.

Jacqui

 

[Admiral Collections]

I believe Richard Branson bought Necker Island for 100k. Branson become rich because of the 'boom' he was in the right place at the right time. He is now officially a billionnaire.

Lets not go down the sexist/non-PC route again otherwise posts will get deleted!

Hi Jonathan

I beg to differ with your comments about Branson. I have read his autobiography, he had really difficult times, it was his belief and determination that helped him on his way. For example, he started a mail order business and was hit with a postal strike and he had to really think on his feet, which he did or he would have sank. He took on a then unknown guy called Mike Oldfield when he set up his recording studio. He took risks and wasn't afraid too. He had been brought up that way. The guy has charisma, personality and isn't in it purely for the money or he would have stopped at 10 million. In some respects you can say that you can be in the 'right place at the right time' but that certainly isn't Bransons philosophy.

Bill Gates hasn't retired, neither has Branson, neither has Anita Roddick, neither has Alan Sugar. They must carry on and get up for something more than money every morning!

(The above statement I believe to be correct, if it isnt....sue me!)

Nic :wink:

 

[easyasit]

Nicthechick makes the point about not wanting a sudden win.

I can see her point but to be honest, i disagree.
A sudden win on the lottery would wipe mine and my partners debts out.
We could afford to buy and not take a mortgage out on a property.
New and decent cars could be bought.
I could pay mortgages off on families abode as well.

Anything left over, i think we would put at least a million aside and just go holidaying, go on one, come back and go on another. In this time perhaps try to work out what we would do with the rest.

Ppl lost it wen they win millions becuase of indequate planning. I believe also that councelling is made available to winners as well.
I know you have a valid point Nic and am certainly not going to argue with it.
But to be given a cash break like that, where just for a minute you have no more worries, about the now or the future (retirement) and beyond, then yes i would love the instant win.
I know there is also the way of getting it by hard graft of course, but i would also like to be alive to enjoy it ;-)

Al

 

[easyasit]

I beg to differ with your comments about Branson. I have read his autobiography, he had really difficult times, it was his belief and determination that helped him on his way. For example, he started a mail order business and was hit with a postal strike and he had to really think on his feet, which he did or he would have sank. He took on a then unknown guy called Mike Oldfield when he set up his recording studio. He took risks and wasn't afraid too. He had been brought up that way. The guy has charisma, personality and isn't in it purely for the money or he would have stopped at 10 million. In some respects you can say that you can be in the 'right place at the right time' but that certainly isn't Bransons philosophy.

I would agree with nic on this one, after also having read his book ;-)

 

[crus]

As a quick aside,

If I was sat in Lottery HQ, I would ask for the transfer before the champagne and 'FREE' advice.

D

 

[bwglaw]

Hi Jonathan

I beg to differ with your comments about Branson. I have read his autobiography, he had really difficult times, it was his belief and determination that helped him on his way. For example, he started a mail order business and was hit with a postal strike and he had to really think on his feet, which he did or he would have sank. He took on a then unknown guy called Mike Oldfield when he set up his recording studio. He took risks and wasn't afraid too. He had been brought up that way. The guy has charisma, personality and isn't in it purely for the money or he would have stopped at 10 million. In some respects you can say that you can be in the 'right place at the right time' but that certainly isn't Bransons philosophy.

I have also read his bio. I agree with you (for once!). But he was in the right place at the right time to get an island for 100k, as well as his personality etc.

(The above statement I believe to be correct, if it isnt....sue me!)

It does not suit you.

Jonathan

 

[Mortime Business Software]

.

I would have no issue with the money if it was from a sudden win, I woudl just be able to see all of my plans come tio life, not just the ones I can currently afford to get running.

D

I am relaxed, was just making a point that I wouldn't really want a sudden win. So if you won 10 million you would carry on with your 'projects'? I find that extremely hard to believe.

Nic :wink:

I find your statement that you wouldn't want to win a million even more hard to believe.

If I won a mill, I would definitely continue with my current plans. I am the type who will never retire. Indeed, if I wanted to retire, I could do so this very minute.

After many years I have found my true love. It is an everlasting love. My computer is a tool which allows me to quickly implement logic and mathematics. Even if the world was suddenly to become devoid of all technololgy and electrical power, I could still revert to pencil and paper and enjoy myself for the rest of my life.

Until that happens, I will continue with my plans to eventually reenter the game of "business", and try to beat my competitors.

Many people assert that success in this game of business is measured by the size of bank balances. I regard this as just one variable in measuring success. The one I am more interested in is the quality of the work I will produce, which itself has a few different variables to consider.

Dave

 

[bwglaw]

Don't you think it was easier to set up a business in the 60's compared to now?

Bearing in mind that very little existed at that time and competition was not as fierce as it is today.

Back to the point. I can see where Nic is coming from, presumably from a 'self-value' perspective but I think most of us would not return a cheque for 10m. However, I do not play the lottery (and refuse to) so I won't be in a position to return a cheque for 10m anyway. Whether the lottery is good for our health and wealth is probably another debate

 

[creacom]

Well maybe its a woman thing but I agree with Nic and can honestly say that I have no real desire to win the lottery either !

I joke about winning like the rest of us and even played 2 weeks ago on the Euromillions but I wouldnt want it.

Generally in life there is a balance. When you have too much of something there is an opposite effect that drags you back to the middle. That effect can come in a lot of different ways but it always comes.

Jacqui

 

[Admiral Collections]

. However, I do not play the lottery (and refuse to) so I won't be in a position to return a cheque for 10m anyway. Whether the lottery is good for our health and wealth is probably another debate

Damn we agree Jonathan for once!

Self value is worth more than any pay cheque, ask anyone with low self esteem who could win the money and actually spend the majority of it in psychotherapy!

Nic :wink:

 

[bwglaw]

I joke about winning like the rest of us and even played 2 weeks ago on the Euromillions but I wouldnt want it.
Jacqui

Baffling... why play if you don't want to win?!

I may be tempted to play the lottery if it was run by a not-for-profit organisation and all surplus goes to charity.

Entering the lottery is one thing, winning is another.

Jonathan

 

[Admiral Collections]

I joke about winning like the rest of us and even played 2 weeks ago on the Euromillions but I wouldnt want it.
Jacqui

Baffling... why play if you don't want to win?!

I may be tempted to play the lottery if it was run by a not-for-profit organisation and all surplus goes to charity.

Entering the lottery is one thing, winning is another.

Jonathan

I would never diss the national lottery, at least some of the money is given back to charities, but again I have to agree with Jonathan, I partake in raffles etc when a charity gains.

NIc :wink:

 

[webit]

Hi Jonathan

I beg to differ with your comments about Branson. I have read his autobiography, he had really difficult times, it was his belief and determination that helped him on his way. For example, he started a mail order business and was hit with a postal strike and he had to really think on his feet, which he did or he would have sank. He took on a then unknown guy called Mike Oldfield when he set up his recording studio. He took risks and wasn't afraid too. He had been brought up that way. The guy has charisma, personality and isn't in it purely for the money or he would have stopped at 10 million. In some respects you can say that you can be in the 'right place at the right time' but that certainly isn't Bransons philosophy.

I have also read his bio. I agree with you (for once!). But he was in the right place at the right time to get an island for 100k, as well as his personality etc.

(The above statement I believe to be correct, if it isnt....sue me!)

It does not suit you.

Jonathan

And didn't he buy his mansion for 30k!!!

 

[bwglaw]

Webit - can't remember. I do recall he left Uni and went on to setp up a magazine - not sure if part of the Uni.

I think he lives in Oxford now with hisd family as well as having a property in London.

He's the best. I even got a signed photo from him for my 25th birthday. Will meet him one day!

 

[Admiral Collections]

Rob already has, stuffy git!


Nic :wink:

 

[Magsite]

Hi all

I've set myself some simple goals.

1) Earn enough per month to pay my mortgage payments.
2) Earn enough per month to cover Childcare payments.

When that happens I would be well happy. I'm not prepared to risk all for good income. My hubby turned down an offer to work in Iraq for £600 a day. His mate took it up and has done it for just over a year, 2 months away 1 month home. He took a chance and thankfully has stayed safe. No doubt his mortgage is paid off now but at a high risk with storys to tell.

My 2nd job is to me still an enjoyable hobbie!

Lisa

 

[Magsite]

Inrelation to the first posts regarding the potential of this scheme

Here are two businesses which have seen the potential of introducing eLottery to their customers

1) Celtic Football Club http://www.celticfc.net/

They state the profits will go to developing their youth team

2) Yorkshire Cricket Club http://www.yorkshireccc.com/

Also on their homepage.

At least if anyone decides to join as an affiliate with Crus http://www.MillionaireLifestyle.biz you will have the support and advice from us both.

Cheers

Lisa

 

[crus]

Thanks for that,

I think those testimonials say a lot.

Also, I am fortunate enough to have a smallish mortgage and outgoings, which my main business activities are, at present, covering.

Whilst I am in this position I am aiming to get Crus to the levels discussed by some medium risk stratergies, I am a realist and understand the luckyy position i am currently in.

Hopefully, my efforts will assist you Lisa, I'm sure more will join from these forums, but I really look forward to pushing this oppourtunity out to my contact bases of users of my other sites.

D

PS and the Millionaire keyword on LinkSponsor!

 

[creacom]

Baffling... why play if you don't want to win?!

I may be tempted to play the lottery if it was run by a not-for-profit organisation and all surplus goes to charity.

Not really that baffling. I got carried away with it like the rest of the country did.

But if I wanted to win I would play the lottery week in week out like a lot of people. I dont. I would rather continue to work hard, see the results and be very, very happy.

Jacqui

 

[directmarketingadvice]

A lot of interesting stuff here.

Some random comments:

My aim was for a staright 6% saving account rate daily compoung

1,000,000 becomes 1,061,836.02 over 1 year.

So this breaks down to 61,836.02 over the year gross, or 1189.15 per week.

This is then simplified to £1000 a week which I wish to generate hadns free so to speak and remotely invoiceable.

Is this the correct equation?

If you had money in the bank and wanted to live off the interest indefinitely, I would have thought that what you had to live on would be

your sum in the bank * (your rate of interest - rate of inflation)

as you'd need to keep the buying power of your balance level or you'd find that the buying power of the interest diminishes.

Alternatively, you could use a more complex equation where you live of a mixture of interest and capital so that the balance goes down to 0 at some pre-determined point in the future (e.g. when you're 100).
.........

Branson:

I don't think he was lucky with his timing. I reckon he's got what it takes to succeed (attitudes, energy, charisma, beliefs). Of course, if you're out every day making things happen, you're going to have good fortune smiling on you from time to time, that's just the law of averages. He's where he is because he recognised and took advantage of this.
........

Branson does not need to do a programme like 'The Apprentice'

I wouldn't say that Trump needs to do it either.
..........

Don't you think it was easier to set up a business in the 60's compared to now?

Nope, I think it's never been easier (or cheaper).

Bearing in mind that very little existed at that time and competition was not as fierce as it is today.

I look at it differently.

Think about all the great business information that's been written down in the last 40 years. There are great ideas we can just pick up and use right now.

And the vast majority of businesses aren't even aware this stuff exists.

That means, without any particularly good ideas of your own, you can wipe the floor with the majority of your competitors just by being a good student.

You couldn't do that in the 60's.

Steve

 

[crus]

Is this the correct equation?

If you had money in the bank and wanted to live off the interest indefinitely, I would have thought that what you had to live on would be...

Yes, the stated goal was to generate an equal amount to the interest without the capital. Therefore no need to account for inflation as depreciation of the capital would not occur. Yes the amount of buying power would reduce but as stated this is only a short term goal to faciliate moving to a global office (travelling). Noone on here is in the mindset of retiring based on a website generating x amount a month, that would be silly, the environment changes to quickly and an business exit stratergy be a totally different goal.

D

 

[Mortime Business Software]

Alternatively, you could use a more complex equation where you live of a mixture of interest and capital so that the balance goes down to 0 at some pre-determined point in the future (e.g. when you're 100).

Yes. This is the same idea used for the amortization of principal and interest loans. It could be used to find how much per period you can spend, over a given number of years before the wad of cash is spent. Here's an example of how a formula can be obtained. I've used small numbers to make it easier. The final formula, (equation [1]) is given below if you can't be bothered to read the working.

Say you have 10,000 in the bank (call the "fund"), and 5% interest is added to it at the end of each year. You want to take out 700 at the end of each year. What will be the value of the fund after n years?

After the first year, you will have 10,000 plus (0.05 times 10,000) minus 700. That is...

1.05(10000) - 700

Let n be a variable to denote a number of years (n = 1, 2, 3, ...) and let Fn be the value of the fund after n years. Then...

YEAR 1...
F1 = 10000(1.05) - 700

YEAR 2...
F2 = 1.05(F1) - 700
= 1.05( 10000(1.05) - 700 ) - 700
= 10000(1.05)^2 - 700(1.05) - 700
= 10000(1.05)^2 - 700(1.05 + 1)

YEAR 3...
F3 = 1.05(F2) - 700
= 1.05( 10000(1.05)^2 - 700(1.05 + 1) ) - 700
= 10000(1.05)^3 - 700(1.05 + 1)1.05 - 700
= 10000(1.05)^3 - 700(1.05^2 + 1.05) - 700
= 10000(1.05)^3 - 700(1.05^2 + 1.05 + 1)

...

Fn = 10000(1.05)^n - 700( 1 + 1.05 + 1.05^2 ... + 1.05^(n-1) )

There is a pattern emerging in the brackets of the second term. It is easier to see if you write it out with paper and pencil in standard algebra. The indexes (powers) form the pattern 0,1,2,3, and so on, because the expression in those brackets is equivalent to...

1.05^0 + 1.05^1 + 1.05^2 + ... + 1.05^(n-1)

This is a sequence (called a geometric progression) where each term has a common ratio r = 1.05, and the first term is denoted by a = 1. The formula for the sum S of a geometric progression is...

Sn = a( (1 - r^n) / (1 - r) )

(This is a result. If you want to see how it is derived, let me know.)

So therefore the formula for the fund amount after n years, Fn, is...

Fn = 10000(1.05)^n - 700( (1 - 1.05^n) / (1 - 1.05) )

Replacing 10000 with p the principal; 1.05 with r the interest rate; 700 with w the wage, then we have a formula which can be solved for any variable...

Fn = pr^n - w( (1 - r^n) / (1 - r) ) [1]

We can use this to, for example, find how much we can take out of a 1,000,000 fund each year over 30 years, before the fund reaches zero. Rearranging the equation with algebra to make w the dependant variable we have...

w = pr^n( (1 - r) / (1 - r^n) )

Plugging in our values gives...

w = 1000000(1.05)^30( (1 - 1.05) / (1 - 1.05^30) ) = 65,051.44

This means we can spend 65,051.44 each year, for 30 years, before the wad is gone.

Plugging 65,051.44 back into the original equation [1], serves as a check for the formula for w, and should show that Fn is zero...

Fn = 1000000(1.05)^30 - 65051.44( (1 - 1.05^30) / (1 - 1.05) ) = -0.32682

...which is close enough to zero for a calculator.

I have this implemented in Perl and C++. The Perl/CGI program works nicely on a web site. If anyone wants a copy, just let me know and I'll dig it out of my archives. You will have to wait a few days though, because it's on another machine somewhere else.

Dave

 

[webit]

I did have a nice excel sheet that worked out amortization - worth looking out for on Google.

 

[Mortime Business Software]

I did have a nice excel sheet that worked out amortization - worth looking out for on Google.

Yes it can be done in a spreadsheet. I remember when I was buying my first house. I was wondering how the hell they worked out the constant repayments to to bring the loan down to approximately 0 over an exact amount of time. I knew intuitively that there must a closed formula, or else how could they write the tables?

I went to about a dozen different banks and all they could show me was books of tables. Not a single manager was able to point me to what I wanted. I was amazed. So I made a spreadsheet which seemed to work okay, but I wanted to know the formula.

It's actually not that difficult. My working is derived from Core Maths for A-level by Bostock and Chandler.

Dave

 

[crus]

I like the way this thread has disappeared into an interest rate related thread.

So I need a nice graphic of the forumla and a bank statement.

I was driven down a physics route not a statistics route in my maths education. The above is very interesting and I will dust of a few braincells and make a note as I am sure at some point this would become useful.

D

 

[directmarketingadvice]

I used to use equations like this (with a pocket calculator) back when I worked in the actuarial division of a large insurance company.

I remember taking the time to break each equation the way Dave did so that I understood how it worked and, that way, I was able to use variations of the equations for exceptional circumstances.

Then I got bored, taught myself some computer programming and wrote a bunch of progrmas to do it for me.

However, it's worth knowing how these numbers are arrived at.

Steve

 

[Mortime Business Software]

Then I got bored, taught myself some computer programming and wrote a bunch of progrmas to do it for me.

Sure. Nobody uses this raw formula or its variants for hand calculation anymore. It is more an example to show the importance of geometric progressions (GM).

GM variants appear all over the place in nature including trees, sunflower florets, garden path layouts, wave motion, computer program loops, computer program statement counting methods, relational databases, etc.

Understanding GM's is essential for making the jump from "coder" to "programmer" to "software engineer", and so on.

Cruz. I will post you the formula in standard algebraic notation. I will have to write it out in MathCad and try and save it in an appropriate file format. Bear with me because I'm not very competent with MathCad (probably because I hate the damn thing. )

As I said before, I have the formula implemented in Perl and console-C++ programs. This would suffice by reversing the positions of the borrower and lender, that is, you become the lender, and the lender becomes the borrower, if you get my drift.

Dave

 

[webit]

Downloadable versions:

http://www.taylor-business.com/TBSApps/TBS Loan Calc.XLT

etc

 

[Steve Roberts]

I can't be arsed to read the whole thread but I read a few pages. My penny's worth:

Financially, I'm doing okay - I earn 7 figures. Am I happier? No, not really. Am I more comfortable? Definitely yes - we have lots of nice holidays, drive high performance cars and generally have a good quality of life.

The real challenge we find (the wife and I that is) is keeping our (four) kids' feet on the ground. They go to a private school, go on plenty of exotic holidays - and don't want for much. As such, we are always reminding them of the "temporal nature" of materials. For example, my wife's mother died last year and I've said to the kids on a number of occasions that "we'd give up everything we've got to have Nana back". I hope they get the message, time will tell. Also, we make sure that they work for money. For example, my eldest kid is going on a charity mission with his school to India in August. However, we're insisting that he gets a job and saves for the airfair and accomodation.

So the above is my view. One last thing I'd like to add is something which my old Mum said many years age "money doesn't buy happiness - but relationships do". I agreed with her at the time, and I agree even more today.

 

[Mortime Business Software]

Yes Steve. It's a "game".

When I had my signs biz I thought I wanted to have buckets of money so I could buy lots of material stuff, which I thought would show I was better than many other people. At the same time I enjoyed beating my competitors.

After a few years I realised that we only get one life. I was earning plenty of dough, but I was as miserable as sin doing it. Once I'de realised that providing I did plenty of appropriate advertising, it became boringly simple, and my soul was being destroyed.

This is why I needed to study something more challenging than sign-making. I will be back in the "game" in another two or three years, but my main objective will be to provide perfection in software. I know perfection can never be achieved, but it will be entertaining to aim for it.

If I make plenty of money, then that's all well and good, but it won't be my main objective. As long as I can establish a solid software development business to leave to FrogFace, then I'll be happy. (FrogFace is my daughter - she calls me FartFace so I'm entitled to retaliate ).

Dave

 

[crus]

Intersting fact

as member 64989 I am going to assume that there are 65000 potentially active players withinn this system.

According to the system results page 36169 members won an amount on the last 4 weeks draws!

So just over 50% win a prize every month, ignoring dupes.

And I imagine a number of the 65 are no longer active memebers.

Sounds good to me!

D

ps editted as foirst figures were wrong, ot was count of pages not actual users and the period was 4 weeks not one draw!

 

[Faith28]

Just a quick correction about this comment:

"Branson does not need to do a programme like 'The Apprentice' "

There was something similar he did to the apprentice it was on ITV2 I take it not many people here watched it..the candidates were american though. Here's the link:
http://www.itv.com/page.asp?partid=3800

 

[crus]

It was good,

I have a lot of respect for a man that throws himself into a gorge!

D

PS should have been called the Reckless Billionaire!

 

[Faith28]

I thought it was really different...wasn't as addictive as the Apprentice I felt. But it certainly shows how laid back Branson is...he certainly doesn't act like the rich geezer he is!

 

[crus]

WooHoo!

My syndicate won the first week I was playing!

D

 

[directmarketingadvice]

My syndicate won the first week I was playing!

It's clearly easy money.

We should all be doing, it's a guaranteed winner.... etc.

Steve

 

[Admiral Collections]

My syndicate won the first week I was playing!

It's clearly easy money.

We should all be doing, it's a guaranteed winner.... etc.

Steve

Ouch! Such cynicism, I have to say that thought didn't enter my head ....................

Nic :wink:

 

[crus]

Gees,

If I could hook you guys up to a generator and convert all that negative energy to electricity we could stop global warming and tell Russia and the Middle East where to stuff their oil.

Funny how noone thought to ask how much before making comment. ;-)

Anyway you can be told now, 82p!

OK yes its not retirement cash but its a portion of my stake back, gambling becomes so boring once you have worked the otherside of the counter for a few years. However it has encouraged me that a reduction of odds in this case might be benficial.

Its only a bit of fun after all!

D

PS I'll let you all know if a big one drops in ;-)

 

[mattk]

Crus - if you give me £5 every week, I'll give you 82p in return.

How about that for a deal?