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CNNMoney: Millionaires in the Making
One topic I really enjoy reading about on CNNMoney are the Millionaires in the making articles. Most of the articles have a common theme, couples who make decent incomes, have sound saving strategies, along with a lot of home equity. Don’t get discouraged if you are operating on a single income, there are a few good stories at the bottom of single people with big networths making modest incomes. It just goes to show anyone with a decent income with good saving habits can build a respectable nest egg.
I think out of the whole batch of stories, my favorite is of Justin D’Angelo who is a young web mogul. He started PoofChairs.com as a side project and it has grown to a full time $150k / year business (and aggressively growing) with minimal expenses. All of this at the young age of 24. Most young adults his age would take that money and spend it all, but Justin has disciplined saving habits that they predict will make him a millionaire by the age of 34! I am truley inspired by Justin’s success.
Here are some other impressive stories:
- At 27 and 28 years old with a combined annual income of $130k they have built a networth of just over $500k.
- At 28 years old, he brings in about $60k/year and has a networth of $250k
- 48-year old Han-Lin Lee and his wife raised two kids, own a house and a portfolio /cash value of $500,000 on $125,000 a year.
- At 35 years old, a school teacher has turned $60,000 a year into approximately $500k in networth.
Are you a millionaire in the making? Or already a millionaire? Feel free to email me and i’ll be more than happy to post your story.
4 Comments, Comment or Ping
1. Canadian Money Blogs Reviewer
thanks for pointing out that site ..very inspiring!
Jan 6th, 2007 @ 10:54 am
2. canadian dollars
Definitely a lot of very inspiring stories. I like reading about people successful and still living comfortable and not scrooge like lives. Kudos to them!
Jan 8th, 2007 @ 4:47 pm
3. FrugalTrader
It’s all about living below your means. But it also doesn’t mean that you can’t live life. It’s all about a healthy balance.
FT
Jan 8th, 2007 @ 5:33 pm
4. Jeff Mackey
I also enjoy the Financial Facelift columns by Andrew Allentuck in the Saturday Globe & Mail. You can get them each week online without a subscription. They tend to lock out after a week or two of being free.
Jan 9th, 2007 @ 4:32 pm
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