$350/month will make you a millionaire

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  • Quotealex
    Confirmed User
    • Sep 2001
    • 6265

    #1

    $350/month will make you a millionaire

    By just investing $350 per month with a 15% yearly return, you'll become a millionaire in 25 years or so. Doesn't get any simpler than that
  • tony299
    lurker
    • Aug 2002
    • 57021

    #2
    isnt 15 percent pretty hard to keep doing for 25 yrs, year in year out?

    Comment

    • Quotealex
      Confirmed User
      • Sep 2001
      • 6265

      #3
      Originally posted by tony404
      isnt 15 percent pretty hard to keep doing for 25 yrs, year in year out?
      15% is an average return. Some years you'll make less and other years, you'll make more.

      Comment

      • GooSearch
        Confirmed User
        • Oct 2006
        • 2538

        #4
        ok but what do you invest in that is going to give u that kind of yearly return
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        • aico
          Moo Moo Cow
          • Mar 2004
          • 14748

          #5
          I prefer the $175 and 30% route.

          Comment

          • chodadog
            Confirmed User
            • Apr 2002
            • 9736

            #6
            15% is average?

            I don't think so..
            26 + 6 = 1

            Comment

            • Quotealex
              Confirmed User
              • Sep 2001
              • 6265

              #7
              Originally posted by GooSearch
              ok but what do you invest in that is going to give u that kind of yearly return
              Stocks portfolio of corse. Ideally consisting of stocks of high-quality, low-profile small companies....But the key is you gotto be be patient and think long term.
              Last edited by Quotealex; 03-31-2007, 06:28 PM.

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              • Pointless
                Confirmed User
                • Jan 2003
                • 2142

                #8
                15% average over 25 years

                your dreamin
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                • bdld
                  $100,000
                  • Dec 2001
                  • 11452

                  #9
                  even if you do that, and start at the age of 30, you'll be 55, old and gray by then.

                  Comment

                  • Spunky
                    I need a beer
                    • Jun 2002
                    • 133987

                    #10
                    I like high risk mutuals myself

                    Comment

                    • Quotealex
                      Confirmed User
                      • Sep 2001
                      • 6265

                      #11
                      Originally posted by bdld
                      even if you do that, and start at the age of 30, you'll be 55, old and gray by then.
                      People live longer now a day. 55-year old is still young.

                      Comment

                      • Evil E
                        Confirmed User
                        • Apr 2005
                        • 3201

                        #12
                        Originally posted by Alex from Montreal
                        By just investing $350 per month with a 15% yearly return, you'll become a millionaire in 25 years or so. Doesn't get any simpler than that
                        Congratulations on making a 15% return for the last 25 years!


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                        • Quotealex
                          Confirmed User
                          • Sep 2001
                          • 6265

                          #13
                          Originally posted by Pointless
                          15% average over 25 years

                          your dreamin
                          How is buying and keeping (or seldom selling) quality small-cap stocks dreaming?

                          Comment

                          • porno jew
                            Too lazy to set a custom title
                            • Nov 2006
                            • 10166

                            #14

                            Comment

                            • Quotealex
                              Confirmed User
                              • Sep 2001
                              • 6265

                              #15
                              Originally posted by Spunky
                              I like high risk mutuals myself
                              Over the long term there is no high risk deversified portfolio

                              Comment

                              • Quotealex
                                Confirmed User
                                • Sep 2001
                                • 6265

                                #16
                                Originally posted by porno jew
                                Are you doubting the power of compound interest? LOL

                                Comment

                                • GooSearch
                                  Confirmed User
                                  • Oct 2006
                                  • 2538

                                  #17
                                  yeah well..i have been looking into roth ira's atm... stocks are to unstable for me
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                                  • Quotealex
                                    Confirmed User
                                    • Sep 2001
                                    • 6265

                                    #18
                                    Originally posted by GooSearch
                                    yeah well..i have been looking into roth ira's atm... stocks are to unstable for me
                                    Stocks are unstable if you're in it for the short term and/or spread over just a few companies.

                                    Comment

                                    • shuki
                                      Confirmed User
                                      • Aug 2004
                                      • 3070

                                      #19
                                      15% is on the high end if you ask me
                                      Looking to buy established paysites contact me [email protected]

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                                      • Klen
                                        • Aug 2006
                                        • 32235

                                        #20
                                        25 years???I cant wait so long.

                                        Comment

                                        • Well Dunn
                                          Confirmed User
                                          • Sep 2005
                                          • 1026

                                          #21
                                          This thread is proof of how ingnorant joe public realy is. Seriousley, 15% average over 25 years is a fucking cakewalk with all the dumb money in the market(s) these days.
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                                          • Quotealex
                                            Confirmed User
                                            • Sep 2001
                                            • 6265

                                            #22
                                            Originally posted by KlenTelaris
                                            25 years???I cant wait so long.
                                            You're looking at it the wrong way. All you're doing is putting aside a little $350 per month that will not affect your daily life but will be appreciated down the road.

                                            Comment

                                            • he-fox
                                              Confirmed User
                                              • Jun 2006
                                              • 2884

                                              #23
                                              very true.

                                              Comment

                                              • Snake Doctor
                                                I'm Lenny2 Bitch
                                                • Mar 2001
                                                • 13449

                                                #24
                                                Originally posted by Alex from Montreal
                                                Are you doubting the power of compound interest? LOL
                                                No we're doubting a 15% average annual return over a long period of time. It just isn't going to happen for 99.9% of people.

                                                If you're really good at timing the market and picking stocks you can do that, but the average Joe who puts money into a mutual fund and leaves it there is going to do 8-12% over the long term.
                                                sig too big

                                                Comment

                                                • JD
                                                  Too lazy to set a custom title
                                                  • Sep 2003
                                                  • 22651

                                                  #25
                                                  that's GREAT and all but in 25 years millionaires will be working at fucking Best Buy... Shit the average price of a home around here is fucking 4-500k

                                                  So in 25 years you'd need to have many millions to be "wealthy"

                                                  Comment

                                                  • Quotealex
                                                    Confirmed User
                                                    • Sep 2001
                                                    • 6265

                                                    #26
                                                    Originally posted by Lenny2
                                                    No we're doubting a 15% average annual return over a long period of time. It just isn't going to happen for 99.9% of people.

                                                    If you're really good at timing the market and picking stocks you can do that, but the average Joe who puts money into a mutual fund and leaves it there is going to do 8-12% over the long term.
                                                    To tell you the truth putting your money into mutual fund is not very wise. Most mutual funds will underperform the market, you'll be better off buying index funds in the long run. Trying to time the market is not a good idea neither.

                                                    Comment

                                                    • woj
                                                      <&(©¿©)&>
                                                      • Jul 2002
                                                      • 47882

                                                      #27
                                                      too bad though that in 25 years, 1 million will be worth like 400k is now (if not less)... so you are looking at more like 30 years...

                                                      and even then, 1 million isn't even THAT much, you pay taxes on it, buy a nice house, buy a nice car, take a vacation or 2, and you are left with not much at all...
                                                      Last edited by woj; 03-31-2007, 09:01 PM.
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                                                      • woj
                                                        <&(©¿©)&>
                                                        • Jul 2002
                                                        • 47882

                                                        #28
                                                        ...and like other have mentioned 15&#37; is pretty unreasonable... which index has averaged 15% over the past 25 years? (assuming one would invest in index funds like you suggested?)
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                                                        • pood
                                                          Confirmed User
                                                          • Feb 2004
                                                          • 1609

                                                          #29
                                                          Originally posted by Alex from Montreal
                                                          Over the long term there is no high risk deversified portfolio

                                                          if you diversify your portfolio, your return usually goes down with time and meets the market average of 8&#37;, but that's only if the market is efficient, it all depends on how much equity you got riding in your portfolio.

                                                          the only way i can think of that might get you a steady 15%/year is buy in on a hedge fund with a super star manager
                                                          Last edited by pood; 03-31-2007, 09:43 PM.

                                                          Comment

                                                          • fallenmuffin
                                                            Confirmed User
                                                            • Nov 2005
                                                            • 8170

                                                            #30
                                                            15&#37; lol... yeah, okay then. Let me know how that works out for you

                                                            Comment

                                                            • bausch
                                                              Confirmed User
                                                              • Jul 2006
                                                              • 3017

                                                              #31
                                                              Originally posted by Alex from Montreal
                                                              By just investing $350 per month with a 15% yearly return, you'll become a millionaire in 25 years or so. Doesn't get any simpler than that
                                                              Don't you spend all yours at the strip club though?

                                                              Comment

                                                              • HeadPimp
                                                                Bad Mo-Fo
                                                                • Jul 2001
                                                                • 2772

                                                                #32
                                                                Yeah, that is all fine and good, but $1,000,000 is nothing anymore. My wife is closing a cash sale on a house in that neighborhood this month...

                                                                $100,000,000 or the big B mark are really what it takes to impress people these days.

                                                                Comment

                                                                • blazin
                                                                  Confirmed User
                                                                  • Aug 2002
                                                                  • 2781

                                                                  #33
                                                                  Originally posted by HeadPimp
                                                                  Yeah, that is all fine and good, but $1,000,000 is nothing anymore. My wife is closing a cash sale on a house in that neighborhood this month...

                                                                  $100,000,000 or the big B mark are really what it takes to impress people these days.
                                                                  Who needs to impress anyone?
                                                                  I don't endorse a god damn thing......

                                                                  Comment

                                                                  • Lee
                                                                    Confirmed User
                                                                    • Aug 2002
                                                                    • 2977

                                                                    #34
                                                                    I know from when I worked in that industry that it is quite easy to achieve that by using quality fund managers. If you use the tax wrappers (if they are available where you are), look long term and appreciate compound interest, plus pay monthly as opposed to annually thus buying more units of a fund with your money when the markets dip... Then you could quite easily do that.

                                                                    Comment

                                                                    • chaze
                                                                      Confirmed User
                                                                      • Aug 2002
                                                                      • 9774

                                                                      #35
                                                                      Why would you invest in someone other then yourself?
                                                                      Like the desert needs the rain
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                                                                      • ADL Colin
                                                                        Too lazy to set a custom title
                                                                        • Feb 2001
                                                                        • 11929

                                                                        #36
                                                                        15% for the next 25 years would be very difficult. Some people will do it but it will be an extreme minority. I would bet less than 1%.

                                                                        The idea is basically right though. why not use a greater amount per month and a lower rate of compounding. Has to be noted you have to do it in a tax-free account?


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                                                                        • Quotealex
                                                                          Confirmed User
                                                                          • Sep 2001
                                                                          • 6265

                                                                          #37
                                                                          Originally posted by pood
                                                                          if you diversify your portfolio, your return usually goes down with time and meets the market average of 8%, but that's only if the market is efficient
                                                                          Only if your portfilio mimmick the S&P Index, your return will average 8%-12% in the long run. You can increase your return by replacing blue chip stocks with quality small and micro cap stocks.

                                                                          Comment

                                                                          • Quotealex
                                                                            Confirmed User
                                                                            • Sep 2001
                                                                            • 6265

                                                                            #38
                                                                            Originally posted by bausch
                                                                            Don't you spend all yours at the strip club though?
                                                                            LOL. Actually, I always pay myself first (i.e. invest and save) before spending on anything else, including on strippers

                                                                            Comment

                                                                            • Quotealex
                                                                              Confirmed User
                                                                              • Sep 2001
                                                                              • 6265

                                                                              #39
                                                                              Originally posted by ADL Colin
                                                                              The idea is basically right though. why not use a greater amount per month and a lower rate of compounding. Has to be noted you have to do it in a tax-free account?
                                                                              The greater the amount you tell people you need to put aside, the less they're are willing to start investing.

                                                                              You are tho, if you are going for the long run, you need to put it in a tax free account.

                                                                              Comment

                                                                              • Quotealex
                                                                                Confirmed User
                                                                                • Sep 2001
                                                                                • 6265

                                                                                #40
                                                                                Originally posted by woj
                                                                                and even then, 1 million isn't even THAT much, you pay taxes on it, buy a nice house, buy a nice car, take a vacation or 2, and you are left with not much at all...
                                                                                Isn't better to at least have what you mentioned than having nothing to show for all the money you spend during those 25 years?

                                                                                Comment

                                                                                • StuartD
                                                                                  Sofa King Band
                                                                                  • Jul 2002
                                                                                  • 29903

                                                                                  #41
                                                                                  Ahh.... skeptics are what makes the world go round.

                                                                                  Alex offered a positive light in an otherwise very negatively driven message board and all any of you could think of to do was beat it down as best you could.

                                                                                  I'd just like to point out though, that not one single person who shunned this idea is a millionaire. Not one.

                                                                                  Think about that.
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                                                                                  • selena
                                                                                    Confirmed User
                                                                                    • Aug 2004
                                                                                    • 7995

                                                                                    #42
                                                                                    Originally posted by Alex from Montreal
                                                                                    Only if your portfilio mimmick the S&P Index, your return will average 8&#37;-12% in the long run. You can increase your return by replacing blue chip stocks with quality small and micro cap stocks.
                                                                                    Sorry, but this post confused me.

                                                                                    I thought you had said that index funds would have an average return of 15%. Did I misunderstand? Or are you saying that they achieve that by the above mentioned supplemention?
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                                                                                    • zabijaq
                                                                                      So Fucking Banned
                                                                                      • Jun 2006
                                                                                      • 956

                                                                                      #43
                                                                                      Somehow I don't trust these.

                                                                                      Originally posted by Alex from Montreal
                                                                                      By just investing $350 per month with a 15&#37; yearly return, you'll become a millionaire in 25 years or so. Doesn't get any simpler than that
                                                                                      Why would You need us? Bank can give You money with much lower % so rest % for You are much higher. If the project is that good, You'll mortage Your house, Your wife, Your kids, Your dog, Your organs and do it Yourself. There are only way You need us is:
                                                                                      1: You are not sure if You don't bankrupt in few months and You need to risk others money, this means it would probably end as nice SCAM.
                                                                                      2: You don't have any project and it's planned SCAM.


                                                                                      25 years? Cancer will kill You sooner.
                                                                                      Last edited by zabijaq; 04-01-2007, 09:20 AM. Reason: Oh, there is no reflink. Sorry for being RUDE ;)

                                                                                      Comment

                                                                                      • selena
                                                                                        Confirmed User
                                                                                        • Aug 2004
                                                                                        • 7995

                                                                                        #44
                                                                                        Originally posted by zabijaq
                                                                                        Why would You need us? Bank can give You money with much lower % so rest % for You are much higher. If the project is that good, You'll mortage Your house, Your wife, Your kids, Your dog, Your organs and do it Yourself. There are only way You need us is:
                                                                                        1: You are not sure if You don't bankrupt in few months and You need to risk others money, this means it would probably end as nice SCAM.
                                                                                        2: You don't have any project and it's planned SCAM.


                                                                                        25 years? Cancer will kill You sooner.
                                                                                        Unless I missed something, he's speaking in general of investing in the market, and illustrating what a person could achieve by saving/investing.
                                                                                        ~
                                                                                        Doer of Things at
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                                                                                        Where Flawless Beauty Meets Art
                                                                                        ~The MetArt Network ~
                                                                                        selena.delgado9

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                                                                                        • Will Saucebox
                                                                                          Confirmed User
                                                                                          • Nov 2006
                                                                                          • 170

                                                                                          #45
                                                                                          most have just read The Wealthy Barber or something
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                                                                                          • zabijaq
                                                                                            So Fucking Banned
                                                                                            • Jun 2006
                                                                                            • 956

                                                                                            #46
                                                                                            Yep, my fault.

                                                                                            Originally posted by selena
                                                                                            Unless I missed something, he's speaking in general of investing in the market, and illustrating what a person could achieve by saving/investing.
                                                                                            But it seemed so much like HYIP promotion ;)
                                                                                            Anyway, You didn't read my EDIT on the post ;))

                                                                                            Cya.

                                                                                            Comment

                                                                                            • selena
                                                                                              Confirmed User
                                                                                              • Aug 2004
                                                                                              • 7995

                                                                                              #47
                                                                                              Originally posted by zabijaq
                                                                                              Anyway, You didn't read my EDIT on the post ;))

                                                                                              Cya.
                                                                                              You are right, your edit slid right under my eyeball radar.
                                                                                              ~
                                                                                              Doer of Things at
                                                                                              MetArtMoney
                                                                                              Where Flawless Beauty Meets Art
                                                                                              ~The MetArt Network ~
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                                                                                              • Snake Doctor
                                                                                                I'm Lenny2 Bitch
                                                                                                • Mar 2001
                                                                                                • 13449

                                                                                                #48
                                                                                                Originally posted by Alex from Montreal
                                                                                                To tell you the truth putting your money into mutual fund is not very wise. Most mutual funds will underperform the market, you'll be better off buying index funds in the long run. Trying to time the market is not a good idea neither.
                                                                                                I agree with the first part, I only buy index funds from Vanguard. I also time the market and do very well. You have to know what you're doing though, it's not for everyone.

                                                                                                I did say the "average joe" will put their money in mutual funds, which is still alot better than a savings account. Most ppl are stuck with the funds offered by their companies' 401(k) plan.


                                                                                                Originally posted by Alex from Montreal
                                                                                                Only if your portfilio mimmick the S&P Index, your return will average 8%-12% in the long run. You can increase your return by replacing blue chip stocks with quality small and micro cap stocks.
                                                                                                This isn't true, it's too general of a statement. Small cap stocks are much more risky than blue chip stocks. So while the winners will definitely outperform the market, the losers will totally disappear, happens all the time.
                                                                                                There's a reason blue chips are blue. 70% of "microcap" stocks go bankrupt within 5 years.
                                                                                                sig too big

                                                                                                Comment

                                                                                                • GatorB
                                                                                                  The Demon & 12clicks
                                                                                                  • Oct 2001
                                                                                                  • 18208

                                                                                                  #49
                                                                                                  Originally posted by aico
                                                                                                  I prefer the $175 and 30% route.
                                                                                                  I prefer $1 and 100%

                                                                                                  and I can have $1 million in 21 months.

                                                                                                  Comment

                                                                                                  • Quotealex
                                                                                                    Confirmed User
                                                                                                    • Sep 2001
                                                                                                    • 6265

                                                                                                    #50
                                                                                                    Originally posted by selena
                                                                                                    Sorry, but this post confused me.

                                                                                                    I thought you had said that index funds would have an average return of 15%. Did I misunderstand? Or are you saying that they achieve that by the above mentioned supplemention?
                                                                                                    I beleive I said that index funds are better than mutual funds. To get higher return, you need to invest in low profile quality small cap stocks.

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