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Thread: Can I become a millionaire by investing in stocks?

  1. #1
    Join Date
    Jun 2022
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    3

    Default Can I become a millionaire by investing in stocks?

    Can I become a millionaire by investing in stocks?
    Making money in the stock market requires a lot of patience and discipline, and there are no shortcuts to making millions.
    what are your views on this? Please share

  2. #2
    Join Date
    Jun 2022
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    1

    Default Becoming a millionaire via stock market

    YESSSS!!!
    if you're making small investments, it will take a long time to hit $1 million. That may be OK if you're investing for retirement and you start in your 20s. But if you're in your 40s and want to become a millionaire soon, you're going to have to be much more aggressive in the amount you invest.

    Putting money into the market early on in your life allows plenty of time for compound interest to work its magic. Compound interest occurs when your investment returns are reinvested and earn returns of their own. It can lead to exponential growth and, when given enough time to work, can make it easy to amass a fortune even when investing small amounts.

    You can't go back in time and start investing $100 a month at age 20 if you're already middle age. But these numbers show that it's not out of reach for most people to become millionaires if they start in their 30s or even their 40s

  3. #3

    Default

    Yes. Read my BLOG postings. Pleas DO NOT POST comments in the blog. I have a thread for questions further down. My wife and I transferred all the money in our company retirement funds over to self directed IRA's and have tripled their valuations since 2007, while taking 8.25% of our retirement monthly spending from the dividend earnings in our brokerage account.
    Last edited by Redrum; 06-07-2022 at 10:37 AM.
    Current investment plan is post #1606, Free S & P sentiment index (Post #564), https://www.ndr.com/invest/infopage/S573 SSD = Simply Safe Dividends Post #1162, http://simplysafedividends.com Sentiment Wave Analysis, https://www.elliottwavetrader.net/ I do a lot of analysis on the Seeking Alpha site. https://seekingalpha.com/ Heck I could be totally wrong!

  4. #4

    Default

    Many more "millionaires" these days than in the past. It is not because they have been so much wiser with their investments. Rather, their digital worth has gone up with inflation.

    You, and so many of your peers, can become a millionaire, billionaire, (and can I hear trillionaire!) if they just "print" enough.

    Not that you will be wealthy, a million dollars can't even buy a decent house where I live anymore....
    “Of all the contrivances for cheating the laboring class of mankind, none has been more effective than that which deludes them with paper money.”Daniel Webster (1782-1852)

  5. #5

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    Start early in life, add the max each year, get employer matching funds and yes you can. Spend every cent you earn and hoping to make a quick killing by buying the latest thing at the top of the market and no you won't.
    American Legion Preamble: https://www.legion.org/preamble

  6. #6

    Default

    Of course you can, just start with 2 million.
    Politicians and diapers must be changed often, and for the same reason. -Mark Twain

    The purpose of life is to matter, to be productive, to have it make some difference that you lived at all. -Leo Rosten

  7. #7

    Default

    Hope your in good graces with a weathy baby boomer.
    Generations after this won't be leaving $$$ large wills for their kinfolk.
    1835 Andrew Jackson had US debt at ZERO $0
    175 YEARS later .......
    2008 Owebama started at $10 TRILLION, left 2016 at $20 TRILLION
    So from 2008 - 2021 (13 years) added $20 TRILLION

    https://youtu.be/1kuTG19Cu_Q

  8. #8
    Join Date
    Jan 2017
    Posts
    4,129

    Default

    It is easy to make money in the Wall Street. You buy stocks
    when they are cheap and sell them when they go up.

    Mark Twain

  9. #9
    Join Date
    Jan 2017
    Posts
    4,129

    Default

    Two pretty young ladies were talking:

    Lady # 1: Do you see the gentleman on the other side of the street ?
    I have made him a millionaire.

    Lady # 2: And how did you do that ?

    Lady # 1: He was a billionaire.

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