2006-06-27 16:49:46 · 10 answers · asked by Anonymous in Local Businesses ➔ United States ➔ New York City
I'm 41, have no degree and am worth $650,000.
I formed the plan you're about to read about when my dear mother cut me off, financially, midway through my second year while I was attending university as an honors undergrad, dual-major and Army officer candidate. -She didn't approve of the direction I was heading-in, for some reason ...
I recall walking through the streets of Iowa City not long after, wondering whether I'd ever get back on my feet, and what would become of me.
She and I haven't spoken much since then.
I joined the service at 19, and as soon as I made E-5 (sergeant in the army or marines, or petty-officer second-class in the navy) I bought my first house, which was located on the edge of a historic area and adjacent to a university campus (ODU) in Norfolk, Virginia. It also had an unfinished attic. Got it for $90,000, put it on a 15-year mortgage and finished the attic myself. Did an excellent, careful job of it for about $10,000 in materials.
Today that house is worth around $400,000.
When I moved with the service I rented it out so it would pay most of the mortgage itself, and when I got to my next duty station (Spain) I bought a condo there on a seven-year mortgage. It cost me $60,000, I mortgaged it for seven years and today it's worth around $250,000. -When I moved again I rented it out, having worked-on and improved it while I was there ...
Both mortgages will be paid-off next year, both homes are rented-out, I'm now retired from the Navy and working for Military Sealift Command, where altogether, between my retirement pay, the income from the houses and my MSC salary and alot of overtime I bring-in around $10,000/month.
The key is to put your money ONLY where it'll make you more, and to be especially disciplined about that, especially in the beginning.
Think long-term, always, and make whatever short-term sacrifices you have to to make your long-term plan workout.
It's hard to get ahead in America today, especially if you lack a degree, but it can be done.
Today I live aboard a ship, but make $10,000/month.
I'm buying a condo in Sydney, Australia, next year after my other two homes are paid-off. -Then maybe I'll form another plan ...
And the nicest thing of all is that as a Navy retiree I can fly on Air Force or Navy aircraft for free for the rest of my life between all three homes.
Believe in yourself. The most exciting thing I've done with my life has been climbing-up from the gutter with my own plan and making it all happen on my own.
And it's still a realistic plan. Wherever you go in the service, they'll offer you full compensation for housing to live off-base. All you have to do is take advantage of that, buy on a short-term, fixed-rate mortgage, improve the place while you're living in it, then rent it out as you move to another ...
Good luck! :).
2006-06-27 17:11:11 · answer #1 · answered by yosarian 2 · 1⤊ 2⤋
Go to a country like Vietnam, When I holidayed there the exchange rate was 8000 dong to the dollar so for $125 I was a millionaire
2006-06-28 00:02:56 · answer #2 · answered by Buck 5 · 0⤊ 0⤋
Marry a woman with the same desire as you.
Start a small business.
Work 60 hours per week.
Avoid luxurious expenses, and pump any profits back into the business.
Do this for several decades.
When you retire, you will be a millionaire.
2006-06-28 00:00:58 · answer #3 · answered by Anonymous · 0⤊ 0⤋
go to Who Wants To be a millionaire show and try to win it!
2006-06-27 23:52:05 · answer #4 · answered by Anonymous · 0⤊ 0⤋
well the first thing is that u have to work to be a millionaire.
go for whatever plan/plans u have in ur mind but remember working smart always pays more than working hard - by this i doesn't mean that u need not work hard but do it with smartness.
this is proven that people do get rich by working hard but it could take them years
i think u have understood what i mean
2006-06-29 14:15:46 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Work and keep working, maybe in twenty years you will be one. I guess its going to be hard to be patient. Besides you'd have to pay income taxes and you'll have barely any money left over, so maybe you should dream about being a billionare.
2006-06-27 23:52:36 · answer #6 · answered by Sazziable 6 · 0⤊ 0⤋
Buy a lottery
2006-06-28 13:20:14 · answer #7 · answered by Raj 1 · 0⤊ 0⤋
hi...tell me please..are you interested in doing internet business..actually i am searching for people who might be intereted in doing this business...you can earn great money...there are people earning $10,000 a month...
you will be working from home...
please,visit this website..
www.meridianinternational.net
waiting for your reply..:)
2006-06-28 09:53:01 · answer #8 · answered by rikloverboy_001 1 · 0⤊ 0⤋
Save $1,000,000.00 or invest $10,000,000 :^)
2006-06-27 23:54:19 · answer #9 · answered by paulofhouston 6 · 0⤊ 0⤋
work hard....it pays you back
2006-06-27 23:59:15 · answer #10 · answered by flying peanuts 3 · 0⤊ 0⤋