Becoming a "pentamillionaire"

[Russjm]

I saw this article on Yahoo finance today about people who have joined the $5 Million club. It's a pretty good read for anyone who is interested. http://finance.yahoo.com/banking-bud...s-an-Open-Mind

[Shamou]

Originally Posted by Russjm

I saw this article on Yahoo finance today about people who have joined the $5 Million club. It's a pretty good read for anyone who is interested. http://finance.yahoo.com/banking-bud...s-an-Open-Mind

Fantastic article Russjm...

A must read for anyone who's interested in PD...

Thank you for sharing that with us...

.

[mustard76]

Interesting read. Thanks.

[Restrikted]

Nice read, many people don't get the concept that in order for you to be rich ($5 million), you've gotta step outside of that old, smelly, pesky box most people live inside.

[JiriNovotny]

Thanks for sharing this. This has motivated me to start super hi-tech startup with my friend... in the future

[Mayo]

Being rich means freedom: to spend your time as you please, to pursue your real interests and to take a chance without courting utter ruin. Paradoxically, the road to riches often means acting as if you already have that freedom.

Now that is what any (in)sane entrepreneur wants... as a pentamillionaire imagine working from this:

ocean residences, luxury vacation residence at sea

haha 10 months a year having your office & apartment watching the sea an most beautiful cities of the world...

Now imagine getting into 10's of MM's and instead of your one villa having a mobile villa and visiting new city every day...

Trinity Yachts

but this is only my view of luxurious freedom...

[Yukio]

Very nice view.

This article is on Yahoo.

[Bloggeries]

Interesting read but not totally shocking. You don't get rich making others rich. You also have to believe that you are a pentamillionare but your just not there yet. I'm a 27 year old multimilionaire who just hasen't gotten it yet, but all those people who do get it were once 27 without... Understand what I"m saying?

[openeyes]

"almost all of them made their fortune in a big lump sum after many years of effort."

"Being rich means freedom: to spend your time as you please, to pursue your real interests and to take a chance without courting utter ruin. Paradoxically, the road to riches often means acting as if you already have that freedom."

This tells me that acting rich doesn't necessarily mean spending large amounts of money. My school has an entrepreneurship club where some of the members have started million dollar businesses, taking a year or two off from school to do so. One that I listened to worked 80+ hour weeks for more than a year without even paying himself a salary. Another I know moved into a shack behind someone's house to cut expenses. If one has the determination to put the success of one's business ahead of everything else, even the thought of being paid or having a social life, then have at it. One has to be able to enjoy the process itself more than the money.

"today's very rich say that money itself wasn't much of a motivator. Once you've got food in your belly and a big-screen TV, the mere prospect of more Benjamins isn't enough to get you leaping out of bed at 5 a.m. Rather, rich folks often make their fortunes after they make up their minds to solve a problem or do something better than it's been done before."

The money is more of a side benefit to doing something you'd have done anyway.

[Mayo]

@openeyes
The money is more of a side benefit to doing something you'd have done anyway.

Correct! That

you'd have done anyway

is moving from point 0, to point 8 infiniti 8

I see raising a business as more of raising your self than raising your bank account, though that bank account is good(great ) side effect.

And yes, after some time it's all about freedom.. i know i will be tied to my business for 3-4 years without leaving the laptop alone for 30 minutes... but after a treshold is made and i had set up a business system (accounting outsource, admins outsource, helpdesk outsource, general managers,..) i can go and really enjoy my life... and if all goes well and i work hard enough i will be practically free with 30 years of age... but i will never stop producing new ideas and value.

[Sam988]

Great article.