I'm a dong millionaire. Look up Vietnams currency exchange. We're all Dong millionaires. I am about to put together a SportsRadio 610 wants to make you a millionaire. We want to give you our dong! there are thousands of double entendre fun things to do with it. But I actually have the Dong in my pocket right now.
I think you have to put a different value on life than just money. Although the lack of daily financial pressures would make decisions easier. Just be happy, and be faithful, and you will be ok..... Oh, and if you want to be a millionaire, you have to be willing to be a failure....risk = reward or failure....but not risking guarantees failure. Before I started my company 5 years ago, I had less than $25,000, I will not say where I am now, but I have been a part of 3 companies that got bought out, and want to do it again. DD
Huh? 401Ks help you three ways. 1. You current income is "lowered" because your contributions do not count against you as income for taxes...so you pay less tax now. 2. Your money grows tax free over your life time. 3. When you take your money out...you are no longer getting working, so your money is taxed a lower bracket. You've just deferred your taxes for 30 years and are taxed lower on it. You can invest in most 401K plans in things that you would invest in anyways. If you put $10K in a taxable account every year after taxes, or put $10K in a 401K every year, after 25 years it equals like 33% tax savings...1/3 more money than you would have had. I'm not saying that your 401K should be your ONLY income generator for retirement...but it could be part of your three pronged income attack. 1. 401K withdraws 2. Other investment accounts (taxable accounts with Stock, bonds, mutual funds ETFs, ROTH IRAs, Annuities) 3. Social Security ALSO...I see 17 "millionaires" so far. Its kind of like when we have threads about the SAT, somehow we have 50 people that scored in the 1550-1600 range...or how everybody has "skillz" at basketball, or everybody has in IQ of like 150..."just a couple of points below Einstein"
I know how you could get your first million. Dirty deeds and they're done dirt cheap! But seriously a million's not that much these days. You could spend about $40 grand a year if you wanted to live off it indefinitely. That would get you a nice used car and about 25oo square feet of house (in Houston) Not nearly enough to own your own hooker.
Hell man, at that age, you may be ahead of the curve with $10k in it - most people that age can't even spell 401k. Just keep contributing...
ummm... I'm older than that and I don't even know for sure what one is or how it works. Not like it matters right now.
Dang, what do they teach you people at Rice?! So why doesn't it matter now? Maybe I missed one of your drama queen posts?
I'm trying to give everyone a rest on the drama, or at least save it until I really need it. Bottom line is: things weren't going well at work (even though I've been here three years and apparently done an OK job until now... people would rather get in cliques and gossip than actually check the facts on how you're doing your job). (And no, the gossip is just about me being a bad teacher; it's not about my personal life. Still depends who you ask, and most of my "normal" students who pass through my large classes are happy with me, but some people's opinions count more than others.) Anyway, I'll only stay here one more year. I could go do this somewhere else, but I'm trying to avoid it. I'm just sick of science and probably should never have majored in it. Just because you can do something doesn't mean your heart is in it. I wish I could go study music - not sure if there's a way to, or what my long-term plan would be - but I know my energy is going to be devoted to music from now on (like it wasn't anyway) and my other job will just be to support myself. So: my finances aren't going to get any better any time soon. I never got paid much even here. At Rice, they teach us about the angles of refraction of light and sine waves and the Schrodinger equation and Lagrange multipliers. None of that useful real world stuff. I have a long list of things I feel like you're supposed to know but no one ever teaches you in school. Where's that "Life for Dummies" book?
