What's your timeline for becoming a millionaire?
Generally speaking, if you have around a million dollars in your investment portfolio, then presumably you should be able to draw upon that at about a 4% per year rate (which is $40k per year and $3,333 per month) and to largely be able to continue with that amount of withdrawal in a near perpetual manner (theorist presume 30 years, but I suppose it depends upon how you assess its value and if you really can get your portfolio to earn more income than your withdrawal rate).
Of course, if we are talking about being able to live off of $300 per week, then our numbers are ONLY about 36% of the millionaire amount - which largely should mean that we should be able to generate $300 per week from ONLY $360k of an investment portfolio... presuming a 4% withdrawal rate... and hopefully a way of investing that generates at least more than 4% per year on average.
I doubt Apocollapse meant being a millionaire in terms of dollars or USD. Being able to earn 1,500 dollars per week will not make anyone a millionaire (dollars) but if you will consider other currency that has much lower value than dollars such as Philippine Pesos. Then, there's a high possibility that you can be a millionaire on your country. Anyway, that is if you only do signature campaign and do not invest or trade.
I suppose there is a fair point to be made regarding what is a millionaire in terms of the frame of reference, and also how much money does any person need in their particular country to be able to be assured that they have reached fuck you status - or whatever might happen to be their goal.. to feel some higher degree of financial comfort/security.
For example, frequently we would use the term fuck you status to suggest that there is no longer any need to work for anyone else or even to have to work at all, so in that sense if there continues to be work, then the work remains a lot more optional than having something like a job in which you have to report on a daily basis and rules are largely created by your employer.
The circumstance in which any person is going to measure there financial freedom is going to vary - and of course, in a forum like this we frequently will refer back to the dollar in order to attempt to have some kind of a common reference point.. so in that regard, it is understandable that there might be some difficulties in grasping how many dollars might be needed to live comfortably in some other location, but also if any of us might become dependent on earning money in some other location (rather than just consuming) then we would have to account for those circumstances too... even though surely, it is helpful to attempt to get some kind of comparative reference in regards to how the majority of people in any given country might be living in order to attempt to figure out whether we might try to live there (even if just temporarily).
What's your timeline for becoming a millionaire?
A million dollars is really huge amount, I might become the top 10 the most richest person in my country. As been mentioned by @Jemzx00 I mean is becoming a millionaire in my own local, not the whole world especially the developed countries where they got paid thousand or a hundred thousand per week. I think get paid $300/week in my country already enough to become a millionaire or even a billionaire, it's mean a lot for me. Because each week I have to survive with just $25/week only, it may sounds a peanut for you, but if you live in poor countries, you will know it.
I speculate that you should be able to figure out for yourself how much you need to live, how much you would prefer to have and how you anticipate the future to change (or stay the same) in such a way that you would be able to project what is "millionaire status" for you.
I doubt that it matters very much whether I believe that you are able to live "on peanuts" or not because you are the one that would need to carry out such calculations regarding whether you would like to continue to live within the amount that you are already accustomed to spending or if there might be some plausible way to increase your standard and if that would even be worth it to you to even attempt to increase your standards.
For more than 20 years, I have been using an Excel spreadsheet to project my cashflow, and surely with practice, I have gotten more sophisticated in terms of how I project ahead and to consider how much I might need based on different circumstances that I might face. Of course, living in western areas tends to be more expensive, but there are pockets of more affordability too. There is a also a lot of savings that might come in terms of moving to either a low cost location within the same country or going to another country - but at the same time, if there is a lot of moving around, then the expense of travel and relocation should be accounted, too... including the extent to which replacement goods might need to be purchased, so for sure, there can be a lot of savings by not having to replace goods that you already have and are using.
Anyhow, it seems that part of my point would be that you should be able to figure out some ballpark ideas regarding how much you need based on your circumstances, and then to be able to attempt to project out how long it would take to get there (with better case and worser case scenarios contained therein). I am not even proclaiming that any of the projection matters would be clearly established, but you should be able to get some ideas including attempting to account for changes in the cost of living or even a variety of circumstances that you could end up confronting.. and maybe try to plot out the more likely scenarios first, and then maybe attempt to plot out ways that you might want to improve the projections (if that were to be one of your goals?).
I was born from a poor family and come from poor country, but I didn't blame anyone why I born from poor because they're (my parents) will also want to make me happy even with their poorness or lack of many things.
Nothing wrong with wanting to stay connected with your family.
I never stop dreaming that I will become a millionaire in the future, of course I have already prepared anything including my degree, certification, and soft skills to find a good jobs will better payrate.
Surely, it is good if you are identifying steps that you can take to improve your options and also making on going progress in terms of various actions that you are taking.. and surely, I understand that frequently, there will be less clarity if you are not sure about which kinds of job opportunities that you might end up entering into and if some of those jobs end up helping you to get to another level or if you might end up getting limited in your jobs.. so in some sense, it can be difficult to project when some of the variables are not known.
I think 4% per year is already good amount return, banks interest rate doesn't even reach 4% and have any fee or charge lol. I think 2-4 years per year is more realistic and that's why I do diversification, to prevent from losing more even I didn't earn to much. I'm 100% trust in Bitcoin, but I only invest around 50% on Bitcoin, 30% on gold, and 20% on stock.
Of course 4% is a standard projection that is made, but of course, if you get 20-30 years of investing under your belt, you should be able to better project how much you believe that you will be able to continue to earn. Bitcoin should be helpful to any long term investment portfolio, and of course there can also be uncertainties in terms of any investment portfolio.. so when you are building your portfolio you would likely be trying to balance out growth and security of your principle.. and when you are in your earlier years of investing, you likely want to emphasize growth, but you still need to be careful not to put too much of your principle at risk .. or at least understand and appreciate the trade offs when taking those kinds of risks.. and you could end up staying poor forever, if you are gambling with your principle all the time - even though I understand that there are also examples of folks who got rich because they put a lot of their principle at risk..
I have never considered putting a lot of principle at risk to be a good investment approach.. and surely people are going to vary in terms of their risk tolerances, too... but they are also going to vary in their other circumstances too, such as access to capital and also skills, abilities and even their age could be a factor in terms of having time to recover if they fuck up.. that is if they are willing to take chances that they might be more able to do when they are younger rather than when they get older if they have never really built anything, then they might not be in a position to continue to take chances, even though some older people think they are too late, so they take risks hoping to make up for their earlier fuck ups.
