FIRE Milestones – Reaching Millionaire Status

Would you like to know what it feels like to enter the Surprise Millionaire status? Well, take a look at one of MrFireStation’s most popular posts. The moment when his net worth totaled $1 million!

Mr.FireStation

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I’m going to start this post (part of a series of posts about retirement milestones), with the assumption that most early retirees in the developed world will reach millionaire status as a matter of course in achieving financial independence. I know the FIRE community is filled with a good number of frugal-living devotees, but I think building toward a $1 million dollar net worth would represent most folks’ planning for 30-40 year retirement (live on $40K/year).

That being my assumption, I think getting into the millionaire ring is still a very significant milestone. According to the Global Rich List, a million dollars in net worth puts you in the world’s top 0.56% of individuals. The kind that makes you think you are in some exclusive club with the Rockefellers, Vanderbilts, JP Morgan, and Howard Hughes. You’re not, of course – those people made their millions when being a…

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Wise Words From The Small Investor!

We had an interesting discussion today at breakfast. My daughter was talking about one of her friends who was “really rich.” She talked about how her father was a heart surgeon, that they lived in a big house, and how she was always bringing new things to school. These are the types of things that people […]

via How Do You See High Spenders? — The Small Investor

Buying a New Used Car

Here is a post from The Small Investor regarding the purchase of automobiles.  Like our Surprise Millionaires, The Small Investor would never buy new when used will do!  Just think of all the depreciation you will avoid and the interest you will save when you make the decision to purchase that gently used automobile!

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Mrs. SmallIvy is truly wonderful and supportive when it comes to handling money.  One area where that really shows is in car purchases.  Early on in our marriage we made the stupid decision to buy …

Continue Reading: Buying a New Used Car

Planting His Crop In Rocky Soil

forrest-allenThe young man looked out over the frozen Wyoming landscape dotted with scrubbrush growing from rocky soil.  This land was now his, but could he make something of it?  If he planted something, would it grow?  Could he make it on nothing but hard work and determination?  Yes.  Yes he could.