Will I ever be a millionaire?

Answer 1

you need to put a small amount of money away each week and it will add up over time.

$20/week is over $1,000 a year . . . . . over the years, if you invest in a good mutual fund, it will compound into a lot of $$$$$

Answer 2

That all depends on you; as has been stated by such folks as Mark Twain and Robert Heinlein, it ain't hard to make a lot of money, but holding onto it is a whole lot harder.

If you wish to speak statistically, look at the numbers:
7.7 million millionaires in the world as of 2003 (I can't find more current census numbers, or rather dont' want to bother) That year, according the article below, due to a "roaring" stock market, 500,000 millionaires joined the ranks of the wealthy. Let's say that as a conservative estimate, barring any economic recessions and whatnot, that about half that number join the ranks every year. That means that this year, expect around 8.5 million millionaires in the world. Meanwhile, we are sitting at right around 6.5 billion people worldwide. So a little more than 0.1% of the world population possesses more than $1 million; that doesn't mean they make a million a year, only that they have it (so they may have simply saved $10,000 a year for their whole careers and invested it well so that they're now over $1 million. So statistically, you have better than a 1/1000 chance of becoming a millionaire worldwide. Actually, since you're an American, your chances are better, because out of about 300 million people, there are almost 3 million millionaires, so really, your chance of becoming a millionaire is about 1% if you stay in America.

Ultimately, the answer depends on your financial advisor and a bit of discipline and long-sightedness on your part -- if you save and invest wisely, there is no reason why you can't retire as a millionaire. You're still reasonably young, so now is the time to invest a little bit more aggressively for a higher return now, and later on you can back off and invest in more conservative stuff as you approach retirement.

But getting rich while you're still young? My sources say "unlikely." Sorry.

Answer 3

What country do you live in? In some currencies, becoming a millionaire is easy. :^) $1100 US will make you a millionaire in South Korean Won ($1 = 959.3 South Korean Won).

If you earn $25,000 a year and work for 40 years, you will earn $1M.

If you have credit card debt, chances are you won't become a millionaire. If you don't regularly save money, chances are you won't become a millionaire. If you spend all your spare time surfing the Web and participating in Yahoo Answers rather than figuring out how to manage your finances, chances are you won't become a millionaire.

Answer 4

This goal takes a little more than working hard-it will take working smart too. It will involve your willingness to make it happen and yes if you want to bad enough you will be a millionaire!

Answer 5

It depends If you want to be a Millionaire you will be a millionaire!

Answer 6

why not ? But also why do you like to be a millionaire ?
The value of 1 million is very relative. What will be the value of 1million in let's us say 2050 ?
I hope you'll be successfully.

Answer 7

YES! If you convert your money to Zimbabwean dollars, you're probably a millionaire right now. There are 100,000 Zimbabwean dollars to a US dollar, so if you have $10 US, you're a millionaire in Zimbabwe.

Answer 8

You are a millionaire. You have a million hairs, a million cells..

Answer 9

You never know.
No pain no gain.
Work hard, get "contacts", invest your money wisely, try saving money, work hard, maybe just maybe someday you will be a millionaire.

Answer 10

Depends On How Much Money You Make, But My Guess Is No