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Young Millionaires
Old 01-31-2007, 03:25 PM   #1
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Young Millionaires

Here's a few tales of how others have done it ...

Enjoy!

http://articles.moneycentral.msn.com...It.aspx?page=1
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Re: Young Millionaires
Old 01-31-2007, 06:15 PM   #2
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Re: Young Millionaires

Good reading, good stories. I love rags to riches stories.
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Re: Young Millionaires
Old 02-01-2007, 08:31 PM   #3
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Re: Young Millionaires

Good stuff. Too bad there aren't more articles like this about people who do it by LBYM.

Too many times, people think they need to create the next "big thing" in order to retire before 65.

Good stuff, though!
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Re: Young Millionaires
Old 02-02-2007, 08:42 AM   #4
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Re: Young Millionaires

I know the people in one of these stories, their story originally appeared in Kiplinger's magazine in May or June of last year. I was astounded when I saw it. Their real names, and those of their children, are used. In fact, their story is one of save, lbym and plan properly, which is heartening to see. They could be posters here.

My only thought was what on earth possessed them to bare their financial details under their own names for their neighbors/acquaintances to see?

I wouldn't do it....



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Re: Young Millionaires
Old 02-02-2007, 09:01 AM   #5
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Re: Young Millionaires

Quote:
Originally Posted by jj
I know the people in one of these stories, their story originally appeared in Kiplinger's magazine in May or June of last year. I was astounded when I saw it. Their real names, and those of their children, are used. In fact, their story is one of save, lbym and plan properly, which is heartening to see. They could be posters here.
My only thought was what on earth possessed them to bare their financial details under their own names for their neighbors/acquaintances to see?
I wouldn't do it....
I agree - people treat you differently when they think you have money.
I post my financial info here only because people don't know me and I can get a little feedback from others and possibly give a little help.
I think once people hear from the media rational thought goes out of their head.
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Re: Young Millionaires
Old 02-02-2007, 09:12 AM   #6
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Re: Young Millionaires

Quote:
Originally Posted by jj
My only thought was what on earth possessed them to bare their financial details under their own names for their neighbors/acquaintances to see?
How is the information validated? If you're talking about this forum, who's to say who we really are, and what we actually do (Wo*k/Retired), income (or investments/net worth), etc.....

- Ron (if that's my real name )...

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Re: Young Millionaires
Old 02-02-2007, 09:20 AM   #7
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Re: Young Millionaires

Even folks that post on message boards are out of their mind sometimes, too.....I have seen a few (more on another disc. forum) constantly look for attention by posting their brokerage account balances...."In the real world", I want everyone to think I am poor....who needs people wanting to ask to borrow money that they will never pay back, etc.....
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Re: Young Millionaires
Old 02-02-2007, 09:22 AM   #8
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Re: Young Millionaires

Quote:
Originally Posted by Ron'Da
How is the information validated? If you're talking about this forum, who's to say who we really are, and what we actually do (Wo*k/Retired), income (or investments/net worth), etc.
That's a good point, Ron. Yet after hanging around a board for a while one does get a remarkably personal sense of other regulars, and the ability to pull of a total charade becomes more compicated in my experience. I must admit there have been a few here where my bulls&%# meter has gone up and up, but they often don't stick around. On those occasions when I have met people I've only known from the board, there were few surprises.

Nice part is that it doesn't matter. You can get great ideas, lots of amusement, do your due diligence when it matters and still come out ahead.
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Re: Young Millionaires
Old 02-02-2007, 09:29 AM   #9
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Re: Young Millionaires

Quote:
Originally Posted by Rich_in_Tampa
Yet after hanging around a board for a while one does get a remarkably personal sense of other regulars, and the ability to pull of a total charade becomes more compicated in my experience.
Exactly. That's why I'm in awe of the teenage girl from Missoula who calls herself "Unclemick".

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Re: Young Millionaires
Old 02-02-2007, 10:58 AM   #10
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Re: Young Millionaires

Quote:
Originally Posted by REWahoo!
Exactly. That's why I'm in awe of the teenage girl from Missoula who calls herself "Unclemick".
Just as I suspected ....

Also, I'm still trying to figure out who/what CFB is : ...

- Ron
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Re: Young Millionaires
Old 02-02-2007, 11:51 AM   #11
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Re: Young Millionaires

I'll be glad to answer any questions you might have Ron.

Why do your eyes keep rolling up in their sockets like that? Are you constantly on the verge of losing consciousness?
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Re: Young Millionaires
Old 02-02-2007, 12:35 PM   #12
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Re: Young Millionaires

after nearly 13k posts...if you dont have the answers by now, well....
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Re: Young Millionaires
Old 02-02-2007, 02:24 PM   #13
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Re: Young Millionaires

Quote:
Originally Posted by Maddy the Turbo Beagle
after nearly 13k posts...if you dont have the answers by now, well....
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Re: Young Millionaires
Old 02-02-2007, 03:38 PM   #14
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Re: Young Millionaires

Some folks like to share their financial information and that is fine. I don't and for many reasons. It would not be too hard for people I know or work with or even family to figure out who I am. I don't wish to share my financial details with these people as it is truly none of their business. It is no secret I am FI and that ER is a few months (or less) away. But, the size of my nest egg is not for the general public to see. There is too much to lose and nothing to gain by sharing this. Were I to have been more secretive in my choice of username and other details shared on this board I might feel more secure in bragging a bit. After all, I worked my butt off to get it and I am proud of what I have done despite not being a wiz-kid in investments or having a ton of cash dropped in my lap.



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Re: Young Millionaires
Old 02-02-2007, 04:08 PM   #15
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Re: Young Millionaires

Quote:
Originally Posted by Maddy the Turbo Beagle
after nearly 13k posts...if you dont have the answers by now, well....
I'm so sorry Maddy, but i'm taken...
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Re: Young Millionaires
Old 02-07-2007, 09:45 PM   #16
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Re: Young Millionaires

You have to be careful what you say to anyone. I had a friend for 20 years, and in a conversation he mentioned a ballpark of what he had and then specifically asked me. I never would have gone down this road but since he did and shared with me first I took the bait.

His reaction was not good, and after that he distanced himself, stopped returning calls etc. to the point where I would say we are not in contact anymore. While some might say a true friend would not do this, I still feel it is best to only talk about net worth and income etc. anonymously on a board like this and not with virtually anyone else.
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Re: Young Millionaires
Old 02-08-2007, 07:55 AM   #17
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Re: Young Millionaires

I still feel it is best to only talk about net worth and income etc. anonymously on a board like this and not with virtually anyone else.

AMEN! My Dad has always asked probing questions, so I've become skilled at dodging any allusions to my net worth. I'm 29 and just hit $1M, so I certainly don't want my friends to know. Most of my close friends are very successful 2-3rd year associates at law firms or finishing medical residencies. All are smarter than me, but just starting their careers a bit later. The last thing I want to do is alienate my close friends/family...

- M
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Re: Young Millionaires
Old 02-08-2007, 10:14 AM   #18
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Re: Young Millionaires

Quote:
Originally Posted by milmoose
I still feel it is best to only talk about net worth and income etc. anonymously on a board like this and not with virtually anyone else.

AMEN! My Dad has always asked probing questions, so I've become skilled at dodging any allusions to my net worth. I'm 29 and just hit $1M, so I certainly don't want my friends to know. Most of my close friends are very successful 2-3rd year associates at law firms or finishing medical residencies. All are smarter than me, but just starting their careers a bit later. The last thing I want to do is alienate my close friends/family...

- M
Holy crap!
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Re: Young Millionaires
Old 02-08-2007, 10:34 AM   #19
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Re: Young Millionaires

I don't trot out my net worth and income to friends and family, but when Dad asked point blank last year abut net worth, I told him. He's not going to get funny ideas, although my parents seem to want to live the high life by proxy through us (ain't gonna happen). Other family and friends, I really would probably be evasive.
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Re: Young Millionaires
Old 02-08-2007, 12:08 PM   #20
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Re: Young Millionaires

Nothing good can come from telling someone you have a lot of money. If pressed on this, I evade and spread disinformation. e.g. "it must be a lot less than Bill with his Porshe and vacation home," or "I read that 5% of the country has over a million dollars -- wow!"
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