Comments on: College Grads, Here’s How to Become Millionaires http://www.mint.com/blog/how-to/become-a-millionaire-07302010/ The blog of the free, simple personal finance solution. Track all your spending automatically, find the best deals, save more money. And save the world. Sat, 11 Feb 2012 21:46:28 +0000 hourly 1 http://wordpress.org/?v=3.1.3 By: Parag http://www.mint.com/blog/how-to/become-a-millionaire-07302010/comment-page-1/#comment-58538 Parag Mon, 09 Aug 2010 09:54:27 +0000 http://www.mint.com/blog/?p=14028#comment-58538 Every teenager aspires to become a millionaire as early as possible. Investing can be one of the way <a href="http://www.financemetrics.com/how-to-become-a-millionaire/" / rel="nofollow">becoming a millionaire</a>. Having sound knowledge about it and taking advice from experienced one's can certainly help. Change is essential to anyone wanting to succeed and a combination of skills and mental attitude along with the desire to succeed is what will create wealth for you. Every teenager aspires to become a millionaire as early as possible. Investing can be one of the way becoming a millionaire. Having sound knowledge about it and taking advice from experienced one’s can certainly help. Change is essential to anyone wanting to succeed and a combination of skills and mental attitude along with the desire to succeed is what will create wealth for you. ]]> By: matt arnold http://www.mint.com/blog/how-to/become-a-millionaire-07302010/comment-page-1/#comment-58330 matt arnold Fri, 06 Aug 2010 08:58:16 +0000 http://www.mint.com/blog/?p=14028#comment-58330 one flaw in this whole thing, when your young you should be out having fun and enjoying those meals and meeting with friends and yes as mentioned before taking out your girlfriend, do you want to be rich and old or enjoy life to the fullest when you are young? one flaw in this whole thing, when your young you should be out having fun and enjoying those meals and meeting with friends and yes as mentioned before taking out your girlfriend, do you want to be rich and old or enjoy life to the fullest when you are young? ]]> By: Ian http://www.mint.com/blog/how-to/become-a-millionaire-07302010/comment-page-1/#comment-58150 Ian Mon, 02 Aug 2010 21:56:24 +0000 http://www.mint.com/blog/?p=14028#comment-58150 Joe - read A Million Bucks by 30 by Alan Corey - he did it by the time he was 29 as he was super focused (owned a large multifamily home, portfolio and bar as well as had a book deal when he was done). It is possible if you want it bad enough and create opportunities for yourself. Joe – read A Million Bucks by 30 by Alan Corey – he did it by the time he was 29 as he was super focused (owned a large multifamily home, portfolio and bar as well as had a book deal when he was done). It is possible if you want it bad enough and create opportunities for yourself. ]]> By: Danielle http://www.mint.com/blog/how-to/become-a-millionaire-07302010/comment-page-1/#comment-58149 Danielle Mon, 02 Aug 2010 21:54:02 +0000 http://www.mint.com/blog/?p=14028#comment-58149 LOL, no kidding! I've never even earned that much in a month. LOL, no kidding! I’ve never even earned that much in a month. ]]> By: Derek Lee http://www.mint.com/blog/how-to/become-a-millionaire-07302010/comment-page-1/#comment-58128 Derek Lee Mon, 02 Aug 2010 18:03:48 +0000 http://www.mint.com/blog/?p=14028#comment-58128 The principles are sound, essentially boiled down to Thomas Stanley's main principle: Live significantly below your means. Bank/invest the difference. Another important aspect is to build multiple streams of income. Don't just rely on your 1 primary job as your source of income. Start to branch out and build these streams that will then diversify your income. Overall excellent article! -Derek Lee Independent USANA Associate http://leefamily.usana.com The principles are sound, essentially boiled down to Thomas Stanley’s main principle:

Live significantly below your means. Bank/invest the difference.

Another important aspect is to build multiple streams of income. Don’t just rely on your 1 primary job as your source of income. Start to branch out and build these streams that will then diversify your income.

Overall excellent article!

-Derek Lee
Independent USANA Associate
http://leefamily.usana.com

]]> By: Bob http://www.mint.com/blog/how-to/become-a-millionaire-07302010/comment-page-1/#comment-58029 Bob Sun, 01 Aug 2010 23:32:57 +0000 http://www.mint.com/blog/?p=14028#comment-58029 Putting $1000 a month in 1970? $1000 in 1970 dollars is about $5500 in 2010 dollars. Who can put away so much money every month? Putting $1000 a month in 1970? $1000 in 1970 dollars is about $5500 in 2010 dollars. Who can put away so much money every month? ]]> By: Matt http://www.mint.com/blog/how-to/become-a-millionaire-07302010/comment-page-1/#comment-58009 Matt Sun, 01 Aug 2010 19:04:33 +0000 http://www.mint.com/blog/?p=14028#comment-58009 Nice to see some good solid financial advice for young people. This is, and probably always has been, the only nearly-guaranteed way to get rich. I'm 26 and doing almost precisely what this article says.... putting away a little over $1000 a month (with my employer's help) into a lifecycle fund (which, at my current age, is essentially an aggressive market-tracking portfolio of index funds). I've worked through a lot of different retirement calculators and I have something like a 99.7% chance of meeting my retirement goals out to 95 years of age (and a very good chance of exceeding them, i.e., having more money than I know what to do with). It would be nice to see a follow up article on asset allocation, managed vs. index funds, and the bewildering jungle of mutual funds out there... I think these issues can be pretty intimidating for new investors. Nice to see some good solid financial advice for young people. This is, and probably always has been, the only nearly-guaranteed way to get rich.

I’m 26 and doing almost precisely what this article says…. putting away a little over $1000 a month (with my employer’s help) into a lifecycle fund (which, at my current age, is essentially an aggressive market-tracking portfolio of index funds). I’ve worked through a lot of different retirement calculators and I have something like a 99.7% chance of meeting my retirement goals out to 95 years of age (and a very good chance of exceeding them, i.e., having more money than I know what to do with).

It would be nice to see a follow up article on asset allocation, managed vs. index funds, and the bewildering jungle of mutual funds out there… I think these issues can be pretty intimidating for new investors.

]]> By: Michael http://www.mint.com/blog/how-to/become-a-millionaire-07302010/comment-page-1/#comment-58001 Michael Sun, 01 Aug 2010 08:49:12 +0000 http://www.mint.com/blog/?p=14028#comment-58001 stocks are risky. at the end the day real estate is the way to go. At least it to market crashes you will have somewhere to live stocks are risky. at the end the day real estate is the way to go. At least it to market crashes you will have somewhere to live ]]> By: Erick http://www.mint.com/blog/how-to/become-a-millionaire-07302010/comment-page-1/#comment-57999 Erick Sun, 01 Aug 2010 08:04:42 +0000 http://www.mint.com/blog/?p=14028#comment-57999 LoL, try 'Acting Poor' and trying to have a girlfriend... LoL, try ‘Acting Poor’ and trying to have a girlfriend… ]]> By: Jose http://www.mint.com/blog/how-to/become-a-millionaire-07302010/comment-page-1/#comment-57995 Jose Sun, 01 Aug 2010 04:45:24 +0000 http://www.mint.com/blog/?p=14028#comment-57995 Thanks for the advice Captain Obvious. Thanks for the advice Captain Obvious. ]]>