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View Full Version : Who thinks they will become a millionare?


tinman
10-21-2008, 09:51 PM
Honestly who believes they will become a millionaire at some point? Either in this business or another. Money is not my sole motivator, but doing something that few people accomplish does drive me.

DLAWNS
10-21-2008, 10:07 PM
I voted yes. I truly think that I will someday make a lot of money like that. I just want to make enough money to be comfortable and then some.

TXNSLighting
10-21-2008, 10:23 PM
I voted yes as well. I will be there in the next 5 years. maybe 6...

old oak lawn
10-21-2008, 10:35 PM
I voted yes. This business is all i do, every day all day. I will never stop growing and learning every day. It might take me a long time but i will be successful.

TXNSLighting
10-21-2008, 10:58 PM
Its good to see confidence here. I like it!

brandtb1
10-22-2008, 11:19 AM
I voted yes, but with inflation and costs rising what will a million dollars be worth in 20 years. Hopefully it will be sooner than that, but eventually to be middle class, you will need a net worth of one million. I talked to someone the other day and their parents bought their house for $15,000 way back when. Now you cannot buy a new truck for that little amount. Do you think they would have ever considered paying $250,000 for a house when they bought that first one? I would like to have enough money to live comfortably, so before long, it will take a million dollars.

capnsac
10-22-2008, 12:30 PM
I ain't gonna make a million in my first year, but I'll make 100,000/yr and in 10 yrs I'll be there

LawnTamer
10-22-2008, 12:38 PM
Brandtb1 hit the nail on the head. Many of us here will likely be millionaires, but what will that mean in 20 years from now? If the dollar keeps dropping, and inflation keeps climbing, that may not be enough to buy a modest home. If the fed keeps pumping "cheap" money to preserve artificially low interest rates, like they have for the past 7 years, a million may not be enough to buy a nice car.:laugh::laugh:

Woody82986
10-22-2008, 03:52 PM
Wasn't there a study or something done not too long ago that said that it really takes about $5 million today to be considered a "millionaire" in the older sense of the term? I think I remember seeing something like that. I think I will be a millionaire in the future. I can't say how far ahead, but taking a look at history, a million ten years from now won't be what it is today, just like a million today isn't what it was 40 years ago.

capnsac
10-22-2008, 08:43 PM
a million ten years from now won't be what it is today, just like a million today isn't what it was 40 years ago.

or like a million today isn't what it was 10 years ago

TXNSLighting
10-22-2008, 10:52 PM
I voted yes, but with inflation and costs rising what will a million dollars be worth in 20 years. Hopefully it will be sooner than that, but eventually to be middle class, you will need a net worth of one million. I talked to someone the other day and their parents bought their house for $15,000 way back when. Now you cannot buy a new truck for that little amount. Do you think they would have ever considered paying $250,000 for a house when they bought that first one? I would like to have enough money to live comfortably, so before long, it will take a million dollars.


I could buy a new truck for less! Ha!

Lawnworks
10-23-2008, 12:12 AM
What do you mean by becoming a millionaire? Having a net worth of a million dollars? Having a million in a bank account? I don't think it is an easy thing to do... I think it takes most business owners years to accumulate that kind of assets and cash. To net a million dollars a year... it would probably take a gross of 10 million... that would mean about 500 employees.

Lawnworks
10-23-2008, 12:17 AM
I would also venture the majority of millionaires make nowhere near a mil a year. They are just smart with there money and have invested wisely over many years. I have read the millionaire mind and the millionaire next door. It is kind of eye opening. These millionaires do not live like the ones Housewives of Orange County, New York, Atlanta. That is a complete misrespresentation of the true millionaires. Most millionaires own a small business and they are cheap! The most popular vehicle they drive is an F150... a majority do not buy new vehicles. There favorite beer is... cheap and free.

lawnman_scott
10-23-2008, 08:40 AM
Unfortunatly I dont think I will make it there. Not enough time left, and not alot of people in this industry do. I prefer to be more realistic. I have been taking more and more time off the last year or two. You have to decide if you would rather work 15 hours a day during the week and 9 on sat, or make a bit less and work 11.5 during the week and not work weekends. There is no right or wrong awnser. Just a personal decision.

hobbsd
10-23-2008, 05:34 PM
Unfortunatly I dont think I will make it there. Not enough time left, and not alot of people in this industry do. I prefer to be more realistic. I have been taking more and more time off the last year or two. You have to decide if you would rather work 15 hours a day during the week and 9 on sat, or make a bit less and work 11.5 during the week and not work weekends. There is no right or wrong awnser. Just a personal decision.

I almost had 600k in bank after 2.5 years in business. However, a little thing called a recession stopped my increase:cry::cry: