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!
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…
View original post 405 more words