OT: Any self-made millionaires out there?

[HedgeHog]

Could care less about those living off Daddy's Trust Fund. Anybody do it on their own, and if so how? Took me 19 years to save the first M. I should have the 2nd by 2010 (just 7 years later than the first)--thanks to compounding. My secret was to work two full time jobs until 2000, investing one of my paychecks into stock mutual funds (had a great run in the 1980's and 1990's.)

Anybody else do it differently? Like to hear some success stories

[Cabo]

Nice going Hedge!

[biggamer3]

Wow big ups to you man if it is indeed true

BTW are you married?

would be awfully hard to have two fulltime jobs and be married

[Shark79]

All I know is that at the age of 40 ... im retired ... 12 more to go!

[Shark79]

Wow big ups to you man if it is indeed true

BTW are you married?

would be awfully hard to have two fulltime jobs and be married

Awfully hard is true ... I also have 2 different full time jobs ... but Sat and Suns are for family .. no questions asked

[SBR_John]

They say the second million is much easier. I sure hope so cause that 1st mil is a bi-atch! Another 37.2 years and I'll have that 1st mil.

[biggamer3]

They say the second million is much easier. I sure hope so cause that 1st mil is a bi-atch! Another 37.2 years and I'll have that 1st mil.

The second Mil is just a 50/50

All you got to do is put your first Mil on the Gmen vs the bears and you have a 50/50 shot at 2 Million

[HedgeHog]

Wow big ups to you man if it is indeed true

BTW are you married?

would be awfully hard to have two fulltime jobs and be married

Yes, married but no kids. Also, the time away, made the time together even better. Going to dinner and a movie were more appreciated, because the next day was often 16 hours of work. Luckily I didn't marry a big spender--a big plus.

[SBR_John]

Sad part is I would be pretty well off if I never gambled on sports, casinos and the stock market. So you like the Gmen? OK.

[HedgeHog]

The second Mil is just a 50/50

All you got to do is put your first Mil on the Gmen vs the bears and you have a 50/50 shot at 2 Million

And a 50/50 shot at divorce!!!

SBR John: The 2nd Million should be easier. But the 100th Million is the easiest. Start with 99M and just wait for your next monthly brokerage statement.

Old Joke: My wife made me a millionaire...I was a billionaire when we married.

[biggamer3]

And a 50/50 shot at divorce!!!

probably 100% if anyone ever does that

[HedgeHog]

Only if the Giants lose. Otherwise she would stay, after the big win. What a weird middle, which way do you cheer?

[Dark Horse]

I'm a millionaire many times over.

At least in my mind I am.

Seriously, what is a million these days? If you own a house in a OK area in California you should be there.

[HedgeHog]

I'm a millionaire many times over.

At least in my mind I am.

Seriously, what is a million these days? If you own a house in a OK area in California you should be there.

Exactly, 1 Million isn't crap these days. I'm more interested in "how" you made it.

[Shark79]

Who really gives a shit.. I dont mean to sound like a dick, but honestly who really gives a shit...

Hedge main concern was to know how they got there first million, not who is a millionaire ... I could also give a rats ass who is one in this Forum ... as i said before ... all I know is at age 40 ... Im just chilling ... thats bank!!

[BigBollocks]

Who really gives a shit.. I dont mean to sound like a dick, but honestly who really gives a shit...

Obviously he just made this thread to dote on himself, but he's a good guy and he's allowed to brag for whatever reason he wishes. Obviously by the thread title you knew it was an excuse to puff his chest. It's like when someone posts a thread about if anyone else has made six figures in the market in one day, has anyone ever taken down a big poker tourney, etc. The thread isn't about hearing anyone else's stories, but just to boast on oneself.

I stayed away just because I didn't like the way the question was asked. If Donald Trump takes his father's money and expands it times 10,000 is that not impressive? Any thread that is created to explain why the way you made money is better than anyone else just isn't my thing. As a matter of fact, I try to stay away from discussing my bet sizes for that very reason, as there are guys on here playing for 1/10th the amounts who may know more than I do. There are a bunch of folks on here who could make HH look like a pauper, and there are a bunch of folks that he looks like a king compared to...

[HedgeHog]

My point was to find out how other people were making it, not to brag (I've got nothing to brag about) or embarass anybody. It was an off-topic subject intentionally and not meant to offend anybody--it's a quiet sports nite. There are a lot of sharps here and I wanted to hear how they're doing it. Sorry you were offended.

[indy62]

i might have made it,but between booze women and gambling that took away 98% of my cash..the other 2% i just wasted

[BuddyBear]

HH: You probably aren't aware of the gaming forum poster profile.

Most guys here are in there 20s or 30s. Most live in an apartment, are single or have g/fs they can't committ to, have jobs (as opposed to careers), have some college education, exprerience long bouts of depression and volatile mood swings, have few if any hobbies outside of gambling, don't make much money with their job, and whatever money they make is spent on gambling and fantasizing about becoming a pro gambler. 90%+ on here are long term losers in gambling, 5-7% may be break even, 3-5% of posters are winning gamblers.

Suffice to say, the "millionaires" who post on here are few and far in between.....

[HedgeHog]

I'm surprised how $1 million over 2 decades impressed a few (any idiot can save it...I did). I was hoping for more posts like DH who says big deal, this is how I made much more than your chump change. ) Believe it or not, that's what I wanted: People to laugh at my lowly nest egg, because they won more over the years...that's what I wanted

[BuddyBear]

I'm surprised how $1 million over 2 decades impressed a few (any idiot can save it...I did). I was hoping for more posts like DH who says big deal, this is how I made much more than your chump change. ) Believe it or not, that's what I wanted: People to laugh at my lowly nest egg, because they won more over the years

You are seriously delusional if you think people are winning millions sports betting.....

[ChuteBoxe]

I'm far from a millionaire, but I'm far from broke on top of it. I'm against the idea, that this is a "better-than-thou" topic, based on the fact, that 1 million itself, isn't that much money. Now, if the topic was "HEY I MADE A MILLION DOLLARS!", I would agree, but it's not. The poster is curious to know how other people made their money. You're going to knock someone for that? I can't speak for anyone else, but I'm not exactly a "low-life with a major gambling problem." Betting on sports, is an extra income for me. If, which I normally do, come out with $2000-$3000 on the week, who's better than me, IMO. I'm not trying to do anything stupid like crazy parlays, heavy ml bets on big dogs, and I don't chase. I do have one weakness, which is blackjack, and after a big loss last week, have since blocked it from my acct. Due to the fact, that any week where I turned a negative, it was because I played blackjack. The game might be fun, but losing money I need is not.

So, to answer the question...everyone I've talked to regarding this subject, talks about multiple incomes. It's impossible to get to a million before 35-40, without 2-3 incomes. I'm on my way to the million right now, and hope to get it within the 5-7 years. I'm talking liquid, not my total net worth. I work my regular job as a field supervisor in manhattan, own an internet business (event ticket brokering), and I gamble on sports. The wife has a job as a kindergarten teacher.

With that said, $1500(after taxes) + $750(after taxes) + $2000 + $500 = roughly $5000 a week. I put half of that into my stock portfolio (the thing that will make me the million), and live on the rest. I eventually hope to get into pre-sale real estate investments. It makes a lot of money, but it takes a lot of money too. To many, in other countries, or even states, $5000/week is a lot of money. But, in my area (Newark, NJ), that isn't really much. After the mortgage/rent, gas, electric, cable, telephone, the supermarket, car insurance, gas to get to work, tolls, taxes, etc...You're not left with very much to actually enjoy.

[HedgeHog]

You are seriously delusional if you think people are winning millions sports betting.....

I don't; it's not how I made my whopping singular million (not from betting!). I gamble now because I can. I asked the question because I wanted to see who started their own busines (ie carpet cleaning or made it as a day trader). This is off topic, and I figure that some might come forward with some insight. Man, did this bite me in the ass.

If you're sharp in betting, you probably have other areas of expertise too. I was trying to tap that.

[Stumpage]

Man, I don't know.....Compared to a lot of other crap I see on the Forum, I think HedgeHog is really taking an unnecessary beating here. I might be in the minority, but I honestly think he was just simply asking a question.....

Anyway, I've probably spent over a million on beer and strippers, so does that count? (Kidding...Sort of...)

[Shark79]

Man, I don't know.....Compared to a lot of other crap I see on the Forum, I think HedgeHog is really taking an unnecessary beating here. I might be in the minority, but I honestly think he was just simply asking a question.....

Anyway, I've probably spent over a million on beer and strippers, so does that count? (Kidding...Sort of...)

I agree ... I guess he just got too curious and got nailed !!

[Dark Horse]

Best way to make money is to invest. Let the money do the work. Stock market, real estate. Get in the stock market. It's sports betting on testosterone.

Sports betting, when it gets too time consuming, defeats the whole purpose for which it was started. Time is our most valuable asset. We never get it back. Whenever there's too much of a magnetic draw, there's the risk of becoming like the painter with his face pressed against the canvas, no longer able to see the big picture. Most sports bettors who lose have lost perspective. If they would take a few steps back they would regain it.

Sports bettors are traders. Same mentality, same skill set. If, as BB suggests, you're in your twenties, don't waste all that talent just on sports. Rather, if you're serious about sports betting, let it be a teacher that prepares you for bigger things. In my book serious sports bettors get unbelievable credit for the lessons they're willing to learn. But never become a slave to anything. It's about dynamic skill sets that can be applied to a variety of fields. Not about a single field.

Unfortunately, the prevailing attitude on this forum, as embraced by JJ (otherwise a good guy) is that sports bettors are losers. And that they may as well accept it. This is a terrible defeatist attitude that completely misses the point. Most likely, it is also a self-fulfilling prophesy. Nothing in the world will bring you down faster than embracing mediocrity. If you can't even challenge yourself to be the very best at what you choose to do, why waste people's time with your experiences in that field?

[HedgeHog]

Man, I don't know.....Compared to a lot of other crap I see on the Forum, I think HedgeHog is really taking an unnecessary beating here. I might be in the minority, but I honestly think he was just simply asking a question.....

Anyway, I've probably spent over a million on beer and strippers, so does that count? (Kidding...Sort of...)

Money well spent.

[WileOut]

HH: You probably aren't aware of the gaming forum poster profile.

Most guys here are in there 20s or 30s. Most live in an apartment, are single or have g/fs they can't committ to, have jobs (as opposed to careers), have some college education, exprerience long bouts of depression and volatile mood swings, have few if any hobbies outside of gambling, don't make much money with their job, and whatever money they make is spent on gambling and fantasizing about becoming a pro gambler. 90%+ on here are long term losers in gambling, 5-7% may be break even, 3-5% of posters are winning gamblers.

Suffice to say, the "millionaires" who post on here are few and far in between.....

You described it all too well. You are right there with us you money maker you

[marke4]

Could care less about those living off Daddy's Trust Fund. Anybody do it on their own, and if so how? Took me 19 years to save the first M. I should have the 2nd by 2010 (just 7 years later than the first)--thanks to compounding.

My secret was to work two full time jobs until 2000, investing one of my paychecks into stock mutual funds (had a great run in the 1980's and 1990's.)

Anybody else do it differently? Like to hear some success stories

WEll done, a true model american, you should tell your story to others to inspire them. Just don't lose it all back betting college football like I almost did this year.

[BigBollocks]

Success in life is absolutely impossible to measure, and by the time you figure anything out you'll be dead. I've got an aunt that made over $50M the year Katrina hit alone, but lost both of her kids and a newborn baby that same year. Is that a life you envy? My grandfather set her up years ago, but lost his wife and spent his last 20 years in a mansion alone and depressed. Is that cool?

This guy says he made it on his own (which he no doubt had some help along the way), and says that his way in life is the way to ultimate self-glorification and happiness. He has no kids, and seems to have severe envy of "trust fund babies" who spent their adolescence in exotic locations getting laid left and right while he was always working and away from home. Is he right? Would a more balanced life with a happier home life and say half the income been the more appropriate way to go? It's entirely subjective.

Quite frankly I don't know, and I don't care. How is existence possible, what is the point of life, and what exactly happens the moment we die? Again, all perplexing questions that will make your head shake if you think too much. Anyone on here who says that their way is the righteous and only way I have a problem with. Whether you guys want to pander to each other, hail HH as God and the ultimate self-made champion story, or argue with each other over the guide to life is up to you. I come to this particular site to simply shoot the shit, get away from the "real world" for a few moments a day, and beat the man. GL to all...

[BigBollocks]

Again, HH is a great capper and a good man in my book. I've had heated discussions with Van about greater purposes and such also, and have the utmost respect for him as well. Just from some internet banter I'm sure that HH deserves whatever good comes his way and then some...

I doubt you'll see me ever have a personal go at HH, but I must agree with some of the posters above me that this should not be the place to tell others what is and isn't the most admirable way to live life, and it certainly isn't the place to pass your dogma off on others. We all have our problems, but we all probably look at everyone else like they're the only ones that are screwed up and undeserving. GL and I'm going to try to really stay gone this time...

[WileOut]

For the record, its not the fault of trust fund babies that they were born with a lot of money. Nor can you say that they are any less talented at life than you are. Some trust fund babies are the smartest, most savy, sharpest, business people you will ever meet. If their parents were able to find ways to make money then they pass that trait on to their kids sometimes. Think about it.

[louisvillekid]

HH: You probably aren't aware of the gaming forum poster profile.

Most guys here are in there 20s or 30s. Most live in an apartment, are single or have g/fs they can't committ to, have jobs (as opposed to careers), have some college education, exprerience long bouts of depression and volatile mood swings, have few if any hobbies outside of gambling, don't make much money with their job, and whatever money they make is spent on gambling and fantasizing about becoming a pro gambler. 90%+ on here are long term losers in gambling, 5-7% may be break even, 3-5% of posters are winning gamblers.

Damn, do you know me?

I'm surprised how $1 million over 2 decades impressed a few (any idiot can save it...I did).

not if i don't have a six figure job and are very frugal with money.

Seriously, what is a million these days? If you own a house in a OK area in California you should be there.

its still a lot to some, but i know what you mean about the houses. I've watched those home improvement or home flipping shows, and it amazes me the prices for some of the homes in certain parts of the country. there is very few million+ homes in louisville, they're mostly in the east end, but i've seen homes priced at 5-6 M in Cali, and that would be a 1-1.5M here. Also a lot of the 700-800thousand homes here ,would probably be 2-3 m in cali.


about the original question, i'm $999,999.00 short of being a millionaire, maybe my powerball ticket will hit tonight.

[HedgeHog]

BB: You really missed the point of my thread. I don't feel rich by any strech. I was trying to open a discussion on to how people have made it financially. I'm 50 next month so I better have something put away. Do you really think a million is that big a deal, if so you have low goals. I was trying to see how others were doing it. Did you miss the part where I said it took 20 years. The point was to save for tomorrow.

My wife and I can't have kids, don't you think I'd trade that for every buck I have in the bank. My Dad, a WWII vet, died last 12-26 and I took care of him to the day he died. He lived thru the Great Depression, and instilled the need to save...he didn't trust banks.

Something changed when you switched to the Richard Simmons avatar. You used to be open-minded. Must be the hormones kicking in. (just kidding, except for the avatar part--I hate Richard Simmons!)

[HedgeHog]

For the record, its not the fault of trust fund babies that they were born with a lot of money. Nor can you say that they are any less talented at life than you are. Some trust fund babies are the smartest, most savy, sharpest, business people you will ever meet. If their parents were able to find ways to make money then they pass that trait on to their kids sometimes. Think about it.

Just saying that those that earn it on their own appreciate it much more than those handed it. I agree that there are some exceptions, but very very few. Some of my best friends are trust fund babies (not really). Best thing you do for a kid is make him go out in the real world and earn a living. Trust Funds and Welfare are similar in that neither teaches the value of a buck.