Millionaire's Club

[Rob Williams]

The hard work and sacrifice has paid off, and the good news is; anyone can do it.

And yet, they don't. Even when they see what others acheive, they still sit in the procrastinators corner or over analyse.
I'm just over half way there. Patiently allowing time and compounding to work it's magic.
Are we there yet? Are we there yet? Are we there yet?

 

[Player]

Well done LA Aussie,

Having read many of your posts, I get the impression you and you family live within your means and have taken action to invest and grow your asset base via your own strategy.

I echo the thoughts of others regarding the second million and with tincture of time, it will come around much quicker than you realise. Compounding is a wonderful thing.

I may be stating the obvious, but ensure you pass on the same attitude to your kids. They, like most of us have probably done, will hang around with enough 95 per centers at school. Vaccinate them against being mediocre. The values that we pass on to them is also part of the wealth journey.

Good luck with you business endeavours also........welcome to the club

 

[chrispy]

Well done that is great news and fantastic that you can celebrate back home in Aus.

It is also good that you can share it with like-minded people. That first $1m is the hardest you think you will never reach the hurdle, then up and over and on to the next one.

To me the biggest mindblowing experience was bidding at an auction over a $1m, that was another hurdle - you stand there thinking can I really do this??
and that is something you really can't share with your neighbours, so few understand the mindset.

Good luck to you and your wife

Chris

 

[murtagh]

Congratulations!

I (and probably other lurkers?) get a lot out of your posts, so thanks for helping the rest of us follow your path.

Cheers.

 

[oracle]

Congratulations LA Aussie!!! That's fantastic news!

Wish you all the best for your next million and more...

Cheers,
Oracle.

 

[wylie]

I will add my congratulations as well. I also enjoy your posts, as they are well balanced and well thought out. I find that on a lot of things we think alike.

I always wanted to have $1M in equity (including PPOR) by the time I was 40. It is a good thing to have a goal, even a loose one, to keep the focus.

 

[steveadl]

Good on ya LA! None more deserving.

 

[WinstonWolfe]

I will add my congratulations as well. I also enjoy your posts, as they are well balanced and well thought out. I find that on a lot of things we think alike.

Well balanced? Gee Wylie, I reckon LAA's neck is redder than mine.
Though we do need to balance out the rabble from the extreme left.

 

[MichaelW]

LAA,

Congratulations, that is a fantastic outcome! My current net worth from investments is -$200K (-ve equity) so you're well ahead of me...

Cheers,
Michael

 

[LynnH]

Congratulations, Marc & Mrs LAA! The hardest part is now behind you and, as others have said, it does get easier from now on! Enjoy!!!

Cheers
LynnH

 

[tubs]

Well done.

 

[Xenia]

Well Done!

what's your next goal?

 

[Rixter]

Mr & Mrs LA Aussie

What an absolutely fantastic achievement to you both.

Congratulations and well done.

Welcome to the club - dont forget the secret identification hand shake.

You are now poised for massive growth.

 

[investor_eddie]

Congratulations mate. I'm sure you made a lot of sacrifices to get to where you are today. I'm only starting my journey now but your an inspiration. I hope to start a thread like this one day

 

[BayView]

Congratulations mate. I'm sure you made a lot of sacrifices to get to where you are today. I'm only starting my journey now but your an inspiration. I hope to start a thread like this one day

Correct.

That's the side of this that no-one sees; the sacrifice and hard work, going without etc.

The other hard bit is to have the courage of your convictions, back your ability and research and act, even when others are not, and saying not to.

Thanks to one and all for the kind words.

Funnily, we don't feel any different today than yesterday, but the urge to go out and buy a Beemer or Merc is strong today.

Of course; I won't be doing that just yet - maybe a 3 year old one (that's the financially smart strategy, right?) .

Even though the nett worth is up, the cashflow is not that loose that I would justify a doodad like that right now - I want the investment income to fund it.

But, I'll be buying a $10 bottle of chardy tonight instead of the $5 one! Big splurge.

 

[Rob Williams]

But, I'll be buying a $10 bottle of chardy tonight

$10? For just one bottle? I don't pay that much for 4 litre cask.
You Millionaires. You just like to show off, don't you

 

[Rixter]

$10? For Just One Bottle? I Don't Pay That Much For 4 Litre Cask.
You Millionaires. You Just Like To Show Off, Don't You

Lol.......Somersoft millionaires, they're not fancy but they're cheap

 

[ianvestor]

Funnily, we don't feel any different today than yesterday, but the urge to go out and buy a Beemer or Merc is strong today.

Of course; I won't be doing that just yet - maybe a 3 year old one (that's the financially smart strategy, right?) .

Even though the nett worth is up, the cashflow is not that loose that I would justify a doodad like that right now - I want the investment income to fund it.

Big congrats LA!

I'm in the club too and I still get around in my 13-year-old car.

My unofficial rule for doodads is "Can I afford to buy 5 of them?". If the answer is no, then I don't buy yet.

eg. I'll buy the $150,000 audi when I can afford to blow 750k on 'cars'. And I'll buy the $30m jet when I've got a spare $150m laying around

-Ian

 

[BayView]

$10? For just one bottle? I don't pay that much for 4 litre cask.
You Millionaires. You just like to show off, don't you

Actually, how's this for pathetic;

when we were in the USA, there was a chain grocery store called "Trader Joe's".

Really good food, a bit "boutique" and usually not real cheap. We didn't shop there as a rule (went to Costco instead), but Traders had this wine there made by a company called "Charles Schwab".

They had mountains of the stuff - red and white, and it was sold for $2 per 750ml bottle.

It was advertised on a massive big sign as "Two Buck Chuck".

We lived on the stuff.

Occasionally we bought 12 bottles of 1.5lt "Yellowtail" shiraz or chardy for $9, and because they were in lots of 12, you got the 10% discount.

Pretty sad, huh?

 

[travelbug]

Actually, how's this for pathetic;

when we were in the USA, there was a chain grocery store called "Trader Joe's".

Really good food, a bit "boutique" and usually not real cheap. We didn't shop there as a rule (went to Costco instead), but Traders had this wine there made by a company called "Charles Schwab".

They had mountains of the stuff - red and white, and it was sold for $2 per 750ml bottle.

It was advertised on a massive big sign as "Two Buck Chuck".

We lived on the stuff.

Occasionally we bought 12 bottles of 1.5lt "Yellowtail" shiraz or chardy for $9, and because they were in lots of 12, you got the 10% discount.

Pretty sad, huh?

I'd say that's smart thinking. Why waste money when you can get something acceptable to you for a better price. It reminded me of a story on TV a few months ago about the millionaire that used to have no electricity Tuesday. No lights on in the house, and the family had games night. They didn't buy designer labels and always asked for a discount wherever he went. Some said he was a miser but why pay full price for something if you don't have to.
I hate wasting money. Even if I was a multi millionaire I'd still look at the price tag before buying clothes. It's what's bred into you I think.

It's why so many people that win Lotto are broke 5 years later.