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How To Become a Millionaire In Three Years

jasonlbaptiste.com

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Re: How To Become a Millionaire In Three Years

#71

Post by GFischer »

kiba wrote: post #43
jseliger wrote: post #42

Earlier quoted context omitted.

Most people don't become millionaires through inheritance, extreme income, and so forth; they become millionaires because they save more than they spend, usually by a substantial amount, invest widely, buy a house and keep it, and marry and don't get divorced. Stanley and Danko's book The Millionaire Next Door describes this phenomenon: http://www.amazon.com/Millionaire-Next-Door-Thomas-Stanley/d... and what wealth i…

That's a slow way of becoming a millionaire. People want to become millionaire the fast way. It's still hard work though. However, you can probably combine the advice in that book and speed up the process of becoming a millionaire. Once you get to that, I think you can live off a 3 percent interest. That's 30,000 dollars. I am pretty sure you can manage that if you live like a college student.

30.000 dollars is enough for middle-class living in the Third world :)

I'd spend part of the capital though, or invest on something with a better interest rate (like living off real-estate rent - my grandparents do that).

Re: How To Become a Millionaire In Three Years

#72

Post by davidw »

jasonlbaptiste wrote: post #63
Sukotto wrote: post #60

Earlier quoted context omitted.

Another meta comment: Let me start by saying I do not think you have deliberately abused the HN point system. You already have a high score and presumably don't care about the number growing. That being said... this is an interesting way to game one's HN score. Comment on stories. Once it became obvious that a particular comment is popular/well-received (200+ points) clarify it a bit and post it to your blog. Then su…

I don't care about Karma at this point in the same way people with lots of money don't care about money (that right there is a potential post). I'd rather not lose it because that means I've done something bad/not smart. Otherwise gaining karma isn't something I keep track of. My logic was: a) I wrote the comment randomly on a Sunday night. I literally wrote what was on my mind. I kept updating it frequently as I tho…

I'd kind of like a way to sell some of it off, or have pg fly my family on an all-expenses paid vacation to the Bahamas or something. Fact is, though, it's completely useless.

Re: How To Become a Millionaire In Three Years

#74

Post by mikeklaas »

lkozma wrote: post #66
pragmatic wrote: post #15

Are you in fact a millionaire?

One could argue that the advice is better if he isn't. Otherwise it would be just hindsight bias. Of course it would be interesting to see his status 3 years from now.

If you had a rare disease would you prefer a doctor who hasn't treated it before because of the potential for hindsight bias?

Re: How To Become a Millionaire In Three Years

#75

Post by mikeklaas »

jasonlbaptiste wrote: post #68
ComputerGuru wrote: post #67

Earlier quoted context omitted.

Thanks for your reply. Can't you detect if it's an iPad and use a different stylesheet or is that not possible? (don't know - I'm a mac user, but I'm not sold on the iPad).

You can certainly detect the user agent. Working on something a bit more in-depth than that though :). I'd say go for it, but it really depends person to person. It's not perfect for everyone.

There are CSS expressions to use to send certain rules to ipads; no user-agent sniffing required.

Re: How To Become a Millionaire In Three Years

#76

Post by [deleted] »

zackattack wrote: post #56
nearestneighbor wrote: post #13

> Smart people whom are successful usually got there by doing the same and have an innate desire to help those do the same. Most smart people know not to overuse the dative form.

There's no need to be obnoxious, you can just tell him that he should have used who instead of whom. If you wanted to be extra neighborly, you could have provided a cool rule of thumb for gauging when to use which, suggest as "Try substituting him or he; him corresponds with whom whereas he corresponds with who."

[deleted]

Re: How To Become a Millionaire In Three Years

#77

Post by pfedor »

jseliger wrote: post #42
edw519 wrote: post #36

Earlier quoted context omitted.

Excellent point. On the other hand, I know plenty of millionaires who never could have made a post like Jason's. Why? Because of how they became millionaires. Either they inherited, joined a family business, climbed the corporate ladder, held onto or flipped real estate, grew a conventional business in the perfect climate, or just got plain lucky. Better: Have you earned a million dollars through your own start-up >…

Most people don't become millionaires through inheritance, extreme income, and so forth; they become millionaires because they save more than they spend, usually by a substantial amount, invest widely, buy a house and keep it, and marry and don't get divorced. Stanley and Danko's book The Millionaire Next Door describes this phenomenon: http://www.amazon.com/Millionaire-Next-Door-Thomas-Stanley/d... and what wealth i…

The book Fooled by Randomness on the other hand argues that the picture painted by The Millionaire Next Door is skewed by a double survivorship bias: it describes people who not only saved more than they spent, invested, etc. but also

(a) Happened to pick the stocks that outperformed the market, and (b) Invested during one of the strongest bull markets in history.

(Not to say who's right or wrong, just wanted to bring up an interesting counterpoint.)

Re: How To Become a Millionaire In Three Years

#78

Post by nhebb »

ErrantX wrote: post #52
nhebb wrote: post #41

Earlier quoted context omitted.

I used to be a manufacturing engineer, and from the perspective of a potential buyer I always thought it was a massively saturated market.

Depends which area your looking at. But for, say, ISO9001 qa and other auditing there is a distince lack of lean, usable tools. Esp for smaller businesses.

I think you have a good point about smaller businesses. When I worked for a medical device manufacturer I was amazed to find out how many of our suppliers were small businesses - in some cases very small.

Re: How To Become a Millionaire In Three Years

#79

Post by soyelmango »

edw519 wrote: post #36
pragmatic wrote: post #15

Are you in fact a millionaire?

Excellent point. On the other hand, I know plenty of millionaires who never could have made a post like Jason's. Why? Because of how they became millionaires. Either they inherited, joined a family business, climbed the corporate ladder, held onto or flipped real estate, grew a conventional business in the perfect climate, or just got plain lucky. Better: Have you earned a million dollars through your own start-up >…

It sounds like you're saying that these millionaires who became millionaires through inheritance, hard work, and chance can't write a post like Jason's because of how they got there.

The reason they couldn't have made a post like Jason's might well be for many reasons, maybe they...

- don't want to share their experience and knowledge widely and freely

- think they're too busy to do the above

- hadn't considered blogging it

- are not as eloquent in distilling and expressing it.

I think there would be interesting and valuable lessons to learn from any of the millionaire types you mention - even from those who've done it only once, and from those who've failed trying.

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