MovieChat Forums > General Discussion > I would like to be millionaire

I would like to be millionaire


any advice?
PS: Please do not answer "just working hard " ..πŸ˜…
PS2: Always in the legal way of course.

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Two words: Ponzi Scheme.
Then change your name and move to another country.
Do it again. Rinse and repeat.

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Become a Registered Nurse Anesthetist. They make a ton of money.

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One of my friends is one and yes indeed - they are well paid.

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Yes. Work hard and invest as much as you can in a diversified Stock and Bond Mutual Fund Portfolio in the NY Stock Exchange. Two excellent companies for this are T. Rowe Price and Vanguard. Make a plan and stick to it, regardless of what the market does. I suggest the NYSE is because I know it very well. The stocks in the S&P 500 index have been earning an average of 10.5% for over 100 years. And it's legal for you, as a German citizen to do so.

As a general rule, you should have your stock investments in an inverse ratio to your age. In your case, if you're 40, you should have 60% in stock funds, and 40% in bond funds. As you get older, begin shifting to a higher percentage of bond funds.

If you have any questions, please let me know.

😎

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PS The Dow Jones Industrial Average:

8/24/1989 - 2,734.64
9/17/2001 - 8,927.27
11/1/2016 - 19,123.58
4/1/2021 - 33,153.21

Got the picture? This is the earning power of the DJIA. The S&P Index 500 has done even better.

😎

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Speaking of Ponzi Schemes...

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are you making any progress?

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It's a pity that I have not that absolutely brilliant idea to commercialise ...but who knows I have still a little bit time.

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If you’re young and invest properly (10% return per year), you can get $1 million in 30-40 years. Contributing, say, $400-600 a month consistently can help too.

https://www.calculator.net/investment-calculator.html?ctype=endamount&ctargetamountv=1000000&cstartingprinciplev=0&cyearsv=30&cinterestratev=10&ccompound=monthly&ccontributeamountv=500&cadditionat1=end&ciadditionat1=monthly&printit=0&x=52&y=0

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Identify as an incredibly rich person and sue your bank for not acting like a cash dispenser for the money you feel you are entitled to.

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What will freak you out is that it really isn't that hard to be a millionaire. It just doesn't mean that much anymore.

Join the US Army as an officer. Max out your TSP and IRA and once you get 25 years in you will have 1.5 mill in retirement accounts and be making 80K+ year for life.

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"Join the US Army " thanks, but I think this is not an option for me πŸ˜…

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