Just out of interest, Has anyone become a self made millionair? If soo how did you do it?

Are you going by asset value or net worth?

Probably means net worth. Anyone with a pulse these days can be a millionaire in terms of asset value--ask Casey Serin.

Ton, check out the book The Millionaire Next Door for lots of information about how people do it.

In 25 words or less, the gist of that book is: be your own boss and live below your means.

I'm not there yet, but we're way closer than I ever thought we'd be!

Assuming Id liquidated everything, I'm making progress. As for exact figures...ehhh

I don't disclose actual amounts, but I have a post going live tomorrow giving relative net worth performance for the past 10 years. Our networth has compounded at an average rate of 29.5% per year over that time, meaning that for every dollar we had on Jan 1 1997, we now have over $15. And this includes some very lean years where we more or less flat-lined early on (finishing school, starting a family, wife leaving the work force, etc.). Check it out if you're interested (this is at FiveCentNickel, link is in my signature).

JerichoHill told me a couple of weeks ago that I was the Millionaire next door - does that count?

YES!!!!

I've probably earned close to a million dollars by now over my lifetime, just not all in one year

Really, as Thoreau said, "success usually comes to those who are too busy to be looking for it." If you set out specifically to be a millionaire, chances are good that you'll fail. If however you have a good idea and the passion and endurance to pursue it and see it through, you could become a millionaire by accident.

I met a woman 25 years ago who said she wanted to be a famous writer. Not just a writer, but a famous one. Needless to say, nobody has ever heard of her. In contrast, I went to high school with a neighbor of mine who was passionately interested in writing and acting; he now has a thriving Hollywood career (he's been on Sex and the City, the West Wing, Friends, Six Feet Under, Law and Order, etc. as well as some well known movies such as Natural Born Killers) and is a successful author; I'm sure he's a millionaire.

I think i ruined the question! I was actually was meaning like, Has anyone open their own business and made millions. I wasnt really thinking about the asset value or net worth.

[quote="brad"]I've probably earned close to a million dollars by now over my lifetime, just not all in one year

Really, as Thoreau said, "success usually comes to those who are too busy to be looking for it." If you set out specifically to be a millionaire, chances are good that you'll fail. If however you have a good idea and the passion and endurance to pursue it and see it through, you could become a millionaire by accident.quote]

I disagree I think its all down to self beliefe but there is the chance you can become a millonair without beleiving in yourself to do it.

Many years ago I took a local self made millionaire to lunch , and asked him how he had made his money,, he told me people want to get rich fast ,but the key is to have a plan and stay with it and you get rich slow, I made money in the real estate business by buy, renting, and building and remodeling houses, and not blowing everything I made, an old rich Uncle of mine once told me "It's not what you make,it's what you do with what you make, it is also important that your mate [if you have one] is on the same page in regards to finance as you are, my wife is a college teacher and she and I think alike on money, after many years we have modest wealth , a million today is not like a million 50 years ago

Most books I've seen on becoming a millionaire are about investing...which is a good thing. But I'm interested in bringing my business to that level. So, because I'm an author, I'm writing a book on the subject, and have been interviewing women who make millions.

And you know something...there are a lot of them. Most of them were business owners. Not one of them, Brad, became a millionaire by accident. Among the things they all had in common:
1. They were BIG THINKERS, highly motivated to make big money and leave a big footprint
2. They were fiercely passionate about what they did.
3. They thought strategically, keeping one eye on their vision and the other was glued to the bottom line.
4. They worked with a team...hiring the best people and getting out of their way.

What surprised me most: how many didn't go to college.

It's an exciting topic...and the time has never been better for women to make big money.

Barbara Stanny, author of "Secrets of Six-Figure Women"
web: http://www.barbarastanny.com
blog: http://barbarastanny.wordpress.com

I became a millionaire through self-employment, investing, plus a little real estate. I didn't finish college-- I was too impatient. I knew what I wanted to do and I wanted to get started, NOW! I looked for people doing what I wanted to do (mentors) and offered to be their apprentice. I read, I asked questions, I listened. And yes, Barbara Stanny is correct-- like most other millionaires, I have always been passionate about my goals and dreams.

Many people seem to fear self-employment; citing risk, lack of a steady paycheck, etc. I, on the other hand, would make a terrible employee. Really! I'd be fired, quick. Why? Because I'm never satisfied with "this is our standard operating procedure". I am a problem-solver, a big thinker. Running my own business, using my own ideas, making my own money, that's where I shine.

I recently answered the question, "What factors do I attribute to my economic success?" in a post titled Is The Key To Wealth Found In A Book? at
http://millionairemommynextdoor.blogspot.com/2007/09/is-key-to-wealth-found-in-book.html
Barbara, I'd be curious to learn what characteristics I share with the women you interviewed for "Secrets of Six-Figure Women". (Guess I better buy your book!).

Well really what I meant by "by accident" was that I doubt most millionaires started out by saying "I want to be a millionaire" and then figured out how to do it. It seems more likely that they had some plan for a business or service and they worked hard enough at it to make it a big success and because of that success they became millionaires. So becoming a millionaire was a side effect of their passion, not the driving motivation of it. Yes, there are some people who set a goal of becoming a millionaire by the time they are age x and manage to do it, but I suspect most millionaires became millionaires because they had a successful business or a great idea and they pursued it well. I doubt most of them became millionaires simply because they had a goal of becoming very rich. At least that's the way it's been for the few millionaires I know: they have a passion for their work (even if it's simply investing) and that's what drives them.

Actually, that IS ultimately the impetuous of how I became wealthy. Money was a constant source of tension and stress when I was growing up. At age 30, I decided that I wanted to be a financially-free mom. I didn't want money to get in the way of my parenting. Since I had always wanted to adopt, I didn't have to be concerned about my biological time clock-- I could wait for the right time. I studied personal finance and created a lifetime financial plan that would allow my husband and I to be free of most of our money worries by age 40. We are now happy and financially-free parents to our terrific two-year-old daughter.

In my opinion, consciously choosing to do something (such as achieve financial freedom) is more than half the battle. Reaching your goal is just a matter of taking care of all the little details.