How did you make your millions?

Anonymous
gambling, once I got over the jitters of making larger bets that's all I did, large bets on all sorts of sports.
Anonymous
Anonymous wrote:7 figures age 52! ( I was a late bloomer)
8 figures age 53! ( this year, made up for lost time)

9 figures? It's not over yet.. Thank you Gamestop!


Anonymous
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Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:30. Started investing in stocks when I was 11. True story.


Or was born into rich family that gave me money to invest while still a child.


DP: I started investing in stocks with my babysitting money when I was 11 because my Papa who was an orphan with a 4th grade education and worked as a janitor for one of the companies in the Dividend Aristocrats told me about how much money he made by putting 10% of his earnings into the company stock and he showed me how I could do the DRIP program through his work.

I never was a high earner but my net worth hit over a million when I was 44, now at 50 it's 2.3 million. Mainly due to investments.


So how did you pay for college?




I’m sure granddaddy paid.


Nope--he wasn't that rich. Just richer than a typical janitor would be. My own dad worked his way through college through a tuition remission from his job (finished when I was a teen) and I got scholarships, student loans and work-study--went to a college that was less selective than my stats and got a substantial merit award. My parents contributed 2K a year and I saved up 4k/yr from work in the summer and school year (in addition to my work-study I also did weekend catering for weddings etc. at the school where the tips were pretty good for the time). My loan burden at the end was just under 18k. I didn't ever think of cashing in the DRIP stocks and always contributed 10% of whatever I earned.
Anonymous
Anonymous wrote:
Anonymous wrote:We are ancients who got started in 1980. MBA’s and 2 careers and we were always big savers. I can’t remember when we became millionaires but it was likely in the early 90’s. My husband ditched his very good corporate career in the late 80’s to pursue his entrepreneurial goals. He led a series of LBO’s that were all successful and fun and he made a great deal of money and we had a great family life along the way though it required moving all around the country but what an adventure. I always worked but I loved when I could work and didn’t care about the money. We are now retired but my husband has his fingers and money in a bunch of businesses so we will see what happens!


So you worked in Corp finance. No surprises then.


No, my husband started in marketing then moved up into general management and then he became a CEO at a series of larger companies. He also invested in the turnarounds he ran and the last two were very successful. One returned 10x in about 5 years.
Anonymous
How old were you when you became a millionaire? with my husband, we had $1 million in net worth when I was 38. We repaid all our debt plus saved 15 - 20% the first few years until we had kids lol.


What line of work were/are you in? Law. Went from negative net worth (school loans) at 25 to first million 13 years later

Did it significantly change your lifestyle? No we still live in the single family house we bought before we became millionaires and we have a few more million now.
Anonymous
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Anonymous wrote:
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Anonymous wrote:
Not me (yet), but DH at 40 or so. Apple stock.



So how much did he invest when?


A few thousand here and there decades ago, starting when Apple was at its lowest. He was a poor graduate student, so he couldn't invest much. Now he has a few million.


And for every apple investor you can find a Yahoo or GM where you don’t get a turnaround.

Wasting a few thousand on the hope of iMacs as a starving grad student is fun, but hardly a strategy much different than lottery ticket.


Actually, a little bit different. He continued to invest for some years every time Apple hit some lows. He told all his friends and family to invest. Those who dared got the jitters and sold years ago, and did not make much at all. It takes guts to hold stocks when the market does its usual roller-coaster runs, and beyond that, it takes significant understanding of the industry you're investing in to know when to buy, when to hold, when to get out (which we've never done).

I'm in Amazon and similar tech myself.
Anonymous
I was born one. Inherited it.
Anonymous
Sex work. 27.
Anonymous
Regular job. Maybe 30.
Last five years added $15M.

Dumb luck.
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