How did you become a millionaire

[sugaraddictwithapinchoffluff]

Go on, make me extremely jealous of how you became a millionaire, what it's really like and is it what it's cracked up to be? What sort of luxury do you indulge in that people like me can simple not afford ...

Take it away...

@CaptainFussyPants

My parents are millionaires. They worked their arses off, saved sensibly, then invested brilliantly. They’ve now sold the holiday homes and live comfortably having retired in their 50s. They were both lucky and hard working so I don’t deny they totally deserve it. I’m a broke single parent working part time and living off my universal credits. They help me as soon as I ask, but I’m so guilty and ashamed that I don’t ask often :(

You should feel neither guilty nor ashamed. You sound brave and resourceful. Good for you. 💓

What crypto coin was it?

Maybe the poster was this person here or read this article because it repeatedly and incorrectly calls Shiba Inu a coin:
fortune.com/2021/11/04/shiba-inu-coin-shib-army-price-increase-warehouse-manager/

Shiba Inu was the token that went parabolic last week however it crashed pretty hard. The chances of someone selling exactly at the peak is pretty lucky. It's a highly volatile token that runs on the Ethereum coin blockchain. Coins are cryptocurrencies that have their own blockchain and tokens are "projects" that run off the blockchain of others.

The fact that the poster didn't know the difference between a token and a coin is a bit hmmm for a self-proclaimed crypto millionaire but ok.

Built up a company, sold, bought and built up another company, sold. Bought a lot of mixed commercial and private properties.

We live quietly, OH still careful about household bills. Everything now in trust for our children who help administrate the portfolio. OH likes a new car every six years. My car is fifteen years old.

We put the kids through private education and university then they had to stand on their own two feet. They've had a golden start which we certainly didn't

Interesting thread.
Can I ask a question...
Lots of people have mentioned investments. Do you mean property ? Or ISAs ? Or am I thinking too basically.
I've never had any spare money and now have a bit which I'd like to make the most off ...

From my Mother's Trust. She got hers from her Mother's Trust, set up 150 years ago by gt-grandfather. But my mother spent probably 75% of the cash, specifically so that "we little sods" couldn't have it. Her brother didn't Guess what? His kids a mega-squillionaires.

@FleetwoodRaincoat

My friend who lives in the South East in a standard terrace house has constantly re-mortgaged in order to buy more flats to rent out. She now has 4 flats, plus their terrace house, so is worth about 1.5 million.

But how much does she owe on mortgages

Trump, Cameron and Johnson used Family planning.

chose parents with lots of money who could be relied upon to lob some at them

though Johnson's family planning is very poor.

@User13439865

What crypto coin was it?

Maybe the poster was this person here or read this article because it repeatedly and incorrectly calls Shiba Inu a coin:
fortune.com/2021/11/04/shiba-inu-coin-shib-army-price-increase-warehouse-manager/

Shiba Inu was the token that went parabolic last week however it crashed pretty hard. The chances of someone selling exactly at the peak is pretty lucky. It's a highly volatile token that runs on the Ethereum coin blockchain. Coins are cryptocurrencies that have their own blockchain and tokens are "projects" that run off the blockchain of others.

The fact that the poster didn't know the difference between a token and a coin is a bit hmmm for a self-proclaimed crypto millionaire but ok.

Lmao I know the difference but most average ppl don't so what does it matter really if I don't write crypto token who gives a shit, I don't, I made £1m and it wasn't shib. Plenty of other tokens that do huge increases in short amounts of time if you get in at the bottom.

@CaptainFussyPants do they realise what a struggle it is for you? They may well not have realised how most part time work cannot cover even basic outgoing nowadays. If I was your mum/dad I’d always want to know if you needed support, not justwhen it became pressing.

Held down and been promoted to partner in city job for 27 years.

No help from family here, our parents were skint. Between us in twenty years of marriage we've inherited £1500, cutlery, crockery and a 1950's sideboard!

I became a millionaire because DH gave me a million pounds, the house is in my name and also half of all other savings and investments.
He became a millionaire because he didn't take an extremely well paid job. Instead he carried on at the tiny company because he was happy there, the director rewarded his loyalty with shares.
The company grew substantially and private investors were brought in. They all had to sell some shares the percentage DH had to sell was worth just under £3 million after tax.
It's still quite new to us and our lifestyle hasn't changed drastically. Our mortgage is paid off but it was only £180 a month our FA said not to bother but DH really wanted to.
All the things I thought I'd splurge on I haven't bothered buying as now I know I can have them they don't seem as important. I think because we both come from poor backgrounds and have spent a lot of our married life skint it's hard to shift out of that mindset. I can't see me ever having a housekeeper and my school age children will go to the same needing improvement comprehensive that my older DC went to.
I'm incredibly grateful for what we have though. It's a great feeling not to worry about bills increasing or having to budget for the food shop. Even more lovely is to be able to treat our families, although we didn't actually tell anyone how much we got. We've also made some large donations to local charities and groups that are meaningful to us and have helped out some friends anonymously too.

Earned it myself through hard work, mainly by working without a break. Literally zero days off except weekends, worked 2 jobs where possible and invested heavily in property.

Not born at the right time as there is no such thing.

@User13439865

Bought bitcoin in 2015.

Don't .....my son "mined" 100 Bitcoin about 15 years ago. He has long since most the key code to access it. If I think about I I'll cry 😢

My brothers are millionaires because of the houses my parents built for them (well
The brothers physically built them but my parents brought the land and did all the architect fees.. electrician and plumbing costs.. my brothers paid for half the materials). I live in a crappy council house with no working heating

I played a TV gameshow

I won several times

I was never actually there

I am a ‘millionaire’, like most people it was a bit of luck and a bit of hard work. My husband was the first employee of a tech company his boss started 20 years ago. He was given shares in the company which as investors have bought in and sold out to new investors we have gradually begun to cash in on. The company is now worth around £150 million (his shares are now very diluted) . We have had a 2 major pay outs so far, both of around a million pounds. We have no mortgage, a house worth around 1.5 million and some investments.
My husband is pretty high up in the company and earns a decent salary but not silly money. We have to budget and be careful we don’t overspend. We buy nice things but know the value of money and don’t waste it.
Our children are in private school, we holiday twice a year at a cost of 15-20k a year. Cleaner comes twice a week, gardener once a week, shop at Ocado, never have to worry about buying what we need… life is good and there’s not a day when I don’t feel grateful (even guilty) for this.
We don’t spoil our children, they get £5 pocket money a week and have to save if they want something.
We don’t come from wealthy families so treat our extended families as much as we can, have people over allot, pay for meals in restaurants…

Most people I know who are millionaires have ever been helped along the way by wealthy parents or have been involved in the start up of a small company. The latter usually takes a huge amount of hard work and a long time before you see financial gain. my husband missed out on a large majority of my children's younger years stuck at the office (often to 10/11pm at night). His job is high stress and high responsibility (as are lots of lower paid jobs). I can’t really say if I would swap the wealth for a husband who walks through the door at 5.30pm everyday, I definitely would have done in a heart beat when my children were small. I felt so envious of the dads at sports days, school pick ups and helping with homework. My husband always held the end result in mind and still does. He’s humble and hardworking and never complains.

We have a business worth around £5m, we hope to sell soon.
We currently take a salary + dividends of circa £500k, we have a comfortable lifestyle but do have a mortgage, kids in private schools, nice holidays, cleaner, gardener, nice cars.

We've lived this life for a long time now but I do always try to remember that things weren't always this way, I'm incredibly grateful.

Earnings in corporate law plus a bit of inheritance plus investing.

I invented Post-it notes

If my parents had bought the house they were renting in London when it was offered to them in the late 1950's, then I'd be a multi-millionaire now.
As it is, they didn't and I'm not.
Oh well.

DH having a very high earning power, working and living in a tax free country. Lots of sacrifice spending lots of time apart. Not acting rich and blowing it.

We are also debt-free.

ophanim you wouldn’t be much of a millionaire if you weren’t debt free.