Please answer only for millionaires or multimillionaires whom you personally know -- yourself included of course, if you qualify based on net worth. I"m just curious to see what has worked well for many people in the everyday world.
2007-02-22 08:42:53 · 11 answers · asked by Investor 2006 3 in Business & Finance ➔ Personal Finance
Other than an uncle, who was a senior executive with Shell, all of the millionaires I know are professionals; physicians, attorneys, financial advisors, and realtors.
2007-02-22 12:22:35 · answer #1 · answered by Rob D 5 · 0⤊ 1⤋
My husband's uncle acquired his wealth by getting educated and getting a high paying engineer's job. Then he lived way below his means and invested every penny he could. He invested mostly in totally reliable things but he did hit a few long shot investments that became very lucrative. He still rolls a lot of his profits back into investments. The other thing he does is he never touches the base ammount he invested. He is 50 years old and has over 3 million dollars.
2007-02-22 16:53:19 · answer #2 · answered by Bethe W 4 · 0⤊ 0⤋
One guy I know was in the oil business and he also owned a trucking company. All the others had acquired it slowly over a lifetime by living on less money than they made. My grandmother owner a ton of land that was leased by an oil company back in the 70's, however they never wound up setting foot on the land but that 300,000 turned into over a million over the years and it was all through bank CD's.
2007-02-22 16:48:08 · answer #3 · answered by dwanzor 2 · 0⤊ 0⤋
My millionaire friends are all in business. They are in all sort of businesses. Education, stationary, technology business. Some people thought you got to be have a great product to earn your millions.
What amaze me is this friend is in the stationary business, selling pens and pencils. He's the richest of all my millionaire friend. He has reach about half a billion.
It's not the product. It's about the way you do business.
2007-02-22 22:27:54 · answer #4 · answered by skyjoe76 2 · 0⤊ 0⤋
I know lot's of people who made millions on stock options granted to them by Intel. Attach yourself to a good company for a decade or so.
2007-02-22 19:01:41 · answer #5 · answered by Quixotic 3 · 0⤊ 0⤋
By saving saving and then saving some more and having that money make you more.
Buying things that make me money works for me. Poor people spend their money on things that ultimately cost them even more. Why not buy things that will make you more money such as investment accounts, stocks, property. Its not a big secret, its simply a choice.... people are where they choose to be.
It's not how much money you make but how much you keep and have what you keep make you more.
=^,,^=
2007-02-22 18:14:45 · answer #6 · answered by Kitty 6 · 1⤊ 0⤋
i come from a wealthy family. both my dad and my uncle went to college, did very well and got high paying jobs. they worked hard to build their reputation and move up in the company. both my parents make 6 figures and my uncle and his family life in a multi million dollar gated community. they both came from a very modest household with only my grandpa working.
always think about ways you can save money, things even as simple as coupons. look for good opportunities to invest and save as much as you can. thats how my family did it.
2007-02-22 17:03:32 · answer #7 · answered by Danielle 5 · 0⤊ 0⤋
Hi!
I got to know one..engineer at Boeing. Invested his money..and made more money with it. Sadly..he never wanted to spend any of it. I never understood him..he was quite unusal..but brilliant.
2007-02-22 18:04:27 · answer #8 · answered by Anonymous · 0⤊ 0⤋
I made my first million acting on Silver Spoons.
2007-02-22 16:55:51 · answer #9 · answered by Anonymous · 0⤊ 0⤋
real estate.OPM.family connections, family pedigree (connections), natural savvy, inheritance parlayed into better $$, the invention that actually was marketable...
2007-02-22 16:50:18 · answer #10 · answered by stlb_2000 2 · 0⤊ 0⤋